Tuesday, December 9, 2008

Can you believe this?

Read these from the Chinese and Hong Kong newspaper...

1) A man somewhere in China had to "go" really bad in the bank. Except couldn't find a bathroom, so he proceeded to use a garbage bin next to the ATM machines to relived himself. The customers got scared. 4 security guards promptly appeared and escorted him to the bathroom at the hotel next door. This man's excuse, the bank did not provide bathroom for customers. BTW, it is very common to see a man stopping by the road side and relieve himself. Even that means stopping his car on a very busy highway, the male would still go. A common sight on the expressway to the Pudong Airport. Too much tea perhaps?

2) The famous Kownloon Airport Express station, it has a very high end shopping mall called Element. The tenants in there are requesting for a reduction in rent due to the economic downturn. Apparently, the Hong Kong MRT corporation owns it. The rent is a combo of basic rent per month plus a percentage of the profit. I was wondering how that place can survive. The last couple times in there, people were pretty thin. Element has a ice skating ring, theatre, the W hotel, LV, Boss, you name it, have it. And of course, one of the most expensive apartment buildings... And the former Lehman Brother management is frantically dumping from its speculation. The MRT Corporation will not grant the rent reduction. I suspect this mall will be a write off soon...

3) Companies are cutting back in the Hong Kong Expats housing subsidy. Take a guess how much these companies were paying? They are the who's who in the US investment banks.... Well... These expats were being paid somewhere between HK$120,000 or HK$200,000 per month for a flat! That's crazy! And totally out of line! Really have to give your head a shake! On average, hong kong people really cannot afford more than HK35,000 per month. But those 6-digit amounts! Those were the companies that are tanked the last few months along with the sub-prime... The Chinese has a saying " Greet = poor".

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