Now they review economic impact???!!!!

angel7030 SG

Matt Hamblen, Computerworld

...layoffs will be made globally "across all businesses and functions" with a "little over two-thirds of these layoffs in the handset division," a spokeswoman said in an e-mail. The communications equipment maker had 66,000 employees at the end of 2007, she said.

at least they made their move to sustain the business and openly warned the public, unlike some unethical corporations still hiding from their lost and waiting to be explode

angel7030 SG

expected one

u see the phone

u sian liao

Their sole business is with the US army, most of the telecommunication in the US army are contracted to Motorola. H/phone is only part of the peacetime business.

xtreyier SG

The problems started in the USA and slowly spread here. It is not like they did not have warning and time. It is not like the crisis started here. Everyone thought these dishonorable idiots were on top since they are so arrogant and persecute dissidents and opposition like they are some sort of god appointed despots, (not forgeting that they are taking massive amounts of public money like they deserve it).

These same god appointed despots then tell you that Singapore is the first in Asia to go into recession. Next they tell you that $501 million was lost by the Damned Bloody Stupid Bank customers for putting their trust in their bank.

How, you ask yourself, can a BANK sell risky products to their customers when these same customers are supposed to trust the bank and put their money with them?

They could see the financial tsunami coming for months and what do they do? They waited and waited and then announced that they are going to do a body count and what, people are supposed to applaud them for doing a body count? They must forget the despots take massive amounts of public money and did nothing?

Everyone together now..... Damned Dishonorable......Des......

Lehman had been around even before the great depression, not only survive it but thrive after it. There was a great deal of trust in that institution.

Hell! It's even older than the republic of Singapore. No one could have known it could collapse overnight, with its numerous years of profitability and excellent record sheets.

When the subprime crisis erupted last year, many held firm the belief that yes, there were defaulters, but it was not every cdo becoming worthless, afterall - the debts had 'collateral', and would fetch some money in auctions.

Property bubbles may exists, but in time, population growth figures will outstrip supply, causing a demand and prices will rise again. Auctioning now would be to lose money. Auction later and there will be more money.

Thus CDOs deriatives were banking on a fixed maturity date to return investors their principal sums.

Unfortunately, there was mismanagement by Lehmans and many other hedgefund operators. They had run out of liquidity to fund their investment operations in other business sectors.

Banks were concerned and stop lending. Lehman and gang were stuck in between a rock and a hard ground, to pay off dividends, and had to filed for bankruptcy.

There were rumours, by economists and punters, but there was no hard facts to support their disputable armchair theories. Lehman and gang abused the free market system by cooking their books to get better ratings for their assets.

No one, no relationship manager, no govt, no outsiders knew how heavily Lehman and gang were extended, except CEOs themselves.

Thus, blaming everyone except Lehman and gang now is totally unjustified. Lehman and gang are the criminals that should ought be hanged and made example of.

Not innocents who have no access to withheld information, which now better regulation must address.

At the end of the day, investments are all risks. It is only how one manages risk. If our society and govt are to prevent risks, then there will be no stock market in Singapore and every individual banned from even putting money even into banks or setting up their own companies, no more freedom of choice for itself comes at a price call risk.

Do understand what you will be getting by blaming others for your mistakes or taking the political opportunity to make a swipe at society and our representatives - the govt, for their failure to have supernatural powers. Everyone will be affected by stiffer regulations to make up for mortal disability to curb human nature, more so if it becomes draconian.

googoomuck SG

Did the bankers honestly inform the customers of the possibility of total loss in the investments?

AndrewPKYap SG

Did the bankers honestly inform the customers of the possibility of total loss in the investments?

Stock brokers or even insurance agents, people will doubt their words and check what they say. A BANK? You are supposed to trust BANKS. People trusts banks and bankers and that it why they put their money with BANKS.

Now the banks turn around and say, "Who asked you to trust me? It is just too bad that you trusted me." If the BANK was not sure, then the bank should not have sold the products in the first place. People buy because they trust the banks.

Now that they have sold the products on trust, now that it turns out that the products are faulty, the banks must pay.

youyayu SG

then again is not our current PM speaking..

really.. can he do a job of the PM anot?

other then rising price and smiling at the camera and crap at national rally and give tons and tons of exquses to raise prices

what else can he do?

googoomuck SG

Now that they have sold the products on trust, now that it turns out that the products are faulty, the banks must pay.

Mutual trust not good enough. One financial institution put it in words:

<Investment Pending Purchase; Plan Administrator Compensation - During the period that an optional cash investment is pending, the collected funds in the possession of the Bank may be invested in certain Permitted Investments. For purposes of this Plan, "Permitted Investments" shall mean any money market mutual funds registered under the Investment Company Act (including those of an affiliate of the Bank or for which the Bank or any of its affiliates provides management advisory or other services) consisting entirely of (i) direct obligations of the United States of America; or (ii) obligations fully guaranteed by the United States of America. The risk of any loss from such Permitted Investments shall be the responsibility of the Bank. Investment income from such Permitted Investments shall be retained by the Bank.>

AndrewPKYap SG

Mutual trust not good enough. One financial institution put it in words:

This is what you call totally without honor. You know where they learnt the dishonorable, hide behind dishonorable laws, to be judge by their appointees, behavior.

AndrewPKYap SG

then again is not our current PM speaking..

really.. can he do a job of the PM anot?

other then rising price and smiling at the camera and crap at national rally and give tons and tons of exquses to raise prices

what else can he do?

...any decent human being would step down once they get cancer,,, but these despots without honor and filled with enormous greed will not only not step down but accept the post of prime minister and mess up the whole country for all they care, as long as they take care of their pockets and the pockets of their relatives and cronies and as-sniffing dogs.

...in order to fool the electrorate, they do propaganda and pressurise the press into self censorship if not outright censorship and discourage good people from joining the opposition by targeting and persecuting some members of the opposition and dissidents.

...all the decent and good people that want to serve the nation will think, "not only am I not welcomed, I will be persecuted by dishonorable despots with the people I want to serve apathetic to the suffering of the persecuted.... better not".

There is only one thing left to do. Curse the senile old despot and curse his grandchildren to suffer from the worse form of cancer and we see if enough people curse him, he will continue to be so greedy for public money and continue to be so dishonorable.

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