TR EMERITUS

Written by Our Correspondent Beleaguered PBM Jack Neo, who continued to be flamed mercilessly by the media and netizens alike for his "insincere" press conference now claimed (via Mark Lee) that he was forced to cut the press conference short "when his wife became too upset." Jack was embroiled in a series of sensational sex scandals when it was leaked to the press last week that a mistress of his had gone to his place at Pasir Ris to confront him and his wife. The 22 year old model Wendy Chong subsequently alerted the media of a meeting held at Crowne Plaza between her family and the couple. Following the stunning relevation which drew an immediate response from Foreign Minister George Yeo who called on Singaporeans to "rally" around his good friend Jack Neo, more and more women stepped forward to accuse Jack of "sexual harrassment" including a 16 year old girl of French descent. The much anticipated press conference was held yesterday morning for Jack to explain his actions and clarify matters to the public, but it ended even before it began. Soon after Jack's wife Irene Kng finished her speech, she stood up to leave before "fainting" on her way out. Jack was holding her and heard shouting to the journalists following them to "go away". Jack was nowhere to be seen or heard after the "aborted" press conference, but sent his pal Mark Lee to deal with the media instead. Mark Lee was earlier rapped by netizens for employing large number of PRC workers at his "Old Town White Coffee" chains. In an interview with Straits Times, Mark claimed that Jack was planning to apologize, but he "couldn't do it" because his wife stood up to leave. "Jack told me in the car this morning that he was prepared to apologise to his fans, his parents, his siblings, his father-in-law, his church friends, the parents of the women and everyone who has been affected in any way by this," he said. Though Jack admitted his fault in the entire fracas, he did not offer a public apology to his wife or fans. "He knew that Ah Bu stood up because she could not take it any more. The pressure and all the camera flashes were too much for her. So when she wanted to leave, Jack had to accompany her," Mark Lee added. The dramatic press conference leaves more questions than answers as the "fainting" episode becomes a major talking point among Singaporeans. As your correspondent was watching the Channel 8 News last evening at a neighborhood kopitiam, an Ah Pek sitting nearby exclaimed - "Gei (fake in hokkien) lah! Pian (deceive) gin lan (children) ah!" drawing a round of laughter from the surrounding spectators as the scene was shown. Whether the drama was staged or not, PBM Jack Neo remains a crowd-puller even when he himself is embroiled in a scandal in real life. Perhaps he can derive some inspiration from his own personal misfortune in the next movie - "Sex No Enough" which will surely be a box office hit.   Jack Neo and wife Irene Kng’s press conference on 11 March 2010: 1. Video recording of press conference 2. Irene Kng fainted at press conference 3. Photo Gallery 4. Field Report: Jack Neo and wife broke down in tears 5. Live coverage of press conference   Related articles: 1. George Yeo slammed by netizens for supporting Jack Neo 2. Jack Neo makes advances to 16 year old French girl 3.Jack Neo’s 10 other flings after Wendy Chong 4. Wendy Chong on how Jack Neo initiated sex with her in his car 5. George Yeo supports PBM Jack Neo 6. Foyce accuses PBM Jack Neo of sexual harrassment 7. Wendy Chong: I had sex with Jack Neo twice a week 8. Jack Neo’s wife forgives him for extra marital affair 9. Jack Neo begged Wendy Chong to let him off  Read More →

By Jamie McGhee from Bloomberg Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc. who pays the company for postage and personal phone calls, received a $100,000 salary for a 29th straight year as he arranged a $27 billion acquisition. Berkshire’s shareholder equity, a measure of assets minus liabilities, rose 20 percent to $131.1 billion in 2009 and annual net income climbed 61 percent to $8.06 billion. Buffett received no bonus in 2009 and he doesn’t get stock options or grants, Omaha, Nebraska-based Berkshire said late yesterday in a regulatory filing. “Considering that far-more-mortal executives have been paid far more for delivering far less, the standards of comparisons would warrant a monumental increase,” said Tom Russo, partner at Gardner Russo & Gardner in Lancaster, Pennsylvania, which holds Berkshire stock. “He could say, ‘I’m worth a billion a year,’” Russo said. “That’s not Buffett.” Buffett reimbursed Berkshire $50,000 last year to cover the cost of postage stamps, phone calls and staff time used for personal tasks, the company said in the filing. Vice Chairman Charles Munger, who also made a $100,000 salary, paid $5,500. Buffett and Munger don’t use company cars or belong to clubs paid for by Berkshire. Security Costs Berkshire reported $344,490 in costs for Buffett’s personal and home security. That’s up 9.1 percent from $315,709 in 2008. Buffett, 79, completed the purchase last month of railroad Burlington Northern Santa Fe Corp. for $27 billion, the biggest acquisition of his career. He built Berkshire into a $200 billion company over four decades, transforming a failing maker of men’s suit linings into an enterprise with businesses ranging from car insurance and underwear to power plants and corporate jet leasing. Buffett is also Berkshire’s chief executive officer as well as its largest shareholder. Since 2004, Berkshire’s compensation committee has determined salaries. Prior to that, Buffett recommended his own salary to the board. “He views the shareholders of Berkshire Hathaway as partners,” said Jeff Matthews, author of “Pilgrimage to Warren Buffett’s Omaha” and founder of the hedge fund Ram Partners LP. “If you have your own skin in the game, you own the shares of stock alongside your fellow shareholders and you make them a ton of money, you will make yourself a ton of money, and that’s the proper way to do it in his mind.” Read rest of the article here  Read More →

Written by Our Correspondent In the parliaments of other modern democratic states, ministers are often grilled for hours by lawmakers on their policies where they are expected to provide answers immediately on the spot. Any lapse of concentration of display of incompetence will spell the end of their political careers as their speeches and replies are telecast live to the entire nation. There are no live telecasts of the parliamentary "debates" in Singapore. The media selects only certain "presentable" segments to be screened and even then, it is unable to hide the many empty seats or the embarrasing sight of MPs caught napping away on camera. The parliamentary sessions in Singapore are all scripted from the beginning to the end. MPs prepare in advance their speeches which are sent to the relevant ministries for detailed replies to be drafed so that ministers respond to their points in prior prepare texts. There are no impromptu questions or answers. Despite being the highest paid MPs and ministers in the world, Singapore lawmakers seem to be lacking in proper oratory skills to engage in meaningful debate with one another in Parliament, not that they are required to anyway since the PAP controls 82 out of 84 seats in Parliament. Aware of the amount of brickbats being hurled at the non-performing PAP MPs in recent days by netizens, PAP spin doctor and Straits Times Senior Correspondent Chua Mui Hoong is quick to write an article to defend her political masters. In a lengthy editorial today titled "No wayang - MPs serve as early warning system", Ms Chua "testify" that as a political writer who has been covering the Budget "debates" for 19 years, "Parliament is not just a wayng, scripted texts not withstanding." "MPs play a valuable role in the political process, often as an early warning system on issues simmering on the ground but not yet on the national radar," she added. The key role of MPs is to discuss, debate and decide on national policies and not just to provide feedback to the policy makers. Unfortunately, the political process in Singapore is tightly controlled by a few senior leaders within the PAP such that Parliament is fast becoming a farce, if it is not already one. For example, MPs usually spend a few weeks if not months debating on the National Budget in other countries before the Finance Minister finalize the details and announce it. It is the other way round in Singapore. Finance Minister Tharman had already announced the Budget for 2010 two weeks ago after which the MPs start "debating" on it  - If this is not a "wayang" to show the public that there is a functioning parliament, then what is it MPs, especially those from the ruling party, can never serve as an "early warning system" due to inherent partisan interests as well as being constrained by the Party Whip. An open, accountable and robust political system is the best safeguard against possible abuse of power by the government. Unfortunately, Ms Chua appears unable to appreciate this basic in spite of her many years of experience as a political writer.  Read More →