Believe it or Not!

This must be the ultimate rip-off!

So the next time, you go shopping with that credit card of yours, scrutnize the bill or receipt before you leave the store. If not, the supermarket ghost of yester-month will come back and haunt you!

I attached the report (with some paraphrasing) below minusing the name of the so-called up market store that was purportedly involved.

So, happy reading.

They are an expensive retail market, and do double or at times triple their prices compared to others. However, the quality of their goods is excellent! No complaints. Nada!

And then the complainant was ripped-off complete with bad bad customer service.

Let's have the storyteller tell her story.

"XYZ, if you don't know already, is a very expensive clothing and supermarket outlet (they sell a typical R50 T-shirt for R150). My daughter and I had just finished lunch at a Woolies Cafe in Hyde Park, Johannesburg . Because both of us are such biscuit lovers, we decided to try the 'Woolies Cookie'. It was so excellent that I asked if they would give me the recipe. The waitress said with a small frown, 'I'm afraid not, but you can buy the recipe.'

I asked how much, and she responded; 'Only two fifty - it's a great deal'

I agreed to that, and told her to add it to my bill.

Thirty days later, I got my Visa statement, and the XYZ's charge was R485. I looked at it again, and I remembered I had only spent R49.95 for two sandwiches and about R120 for a scarf. At the bottom of the statement, it said, 'Cookie Recipe - R250.00'. That was outrageous!

I called XYZ's Accounting Department and told them the waitress had said it was 'two fifty', which clearly does not mean 'two hundred and fifty Rands' by any reasonable interpretation of the phrase. XYZ refused to budge. They would not refund my money because according to them; 'What the waitress told you is not our problem. You have already seen the recipe. We absolutely will not refund your money.

I explained to the Accounting Department lady the criminal statutes which govern fraud in the state of Gauteng . I threatened to report them to the Better Business Bureau and The Attorney General's office. I was basically told: Do what you want. Don't bother thinking of how you can get even, and don't bother trying to get any of your money back'

I said, OK, you've got my R250, and now I'm going to have R250 worth of fun. I told her that I was going to see to it that every cookie lover in the world with an e-mail account gets a R250 cookie recipe from Neiman-Marcus for free. She replied, 'I wish you wouldn't do that.' I said, 'Well, perhaps you should have thought of that before you RIPPED ME OFF!' and slammed down the phone.

So here it is! Please pass it on to everyone you can possibly think of. I paid R250 for this, and I don't want XYZ to EVER make another cent from this recipe!

WOOLIES COOKIES (Recipe may be halved as this makes heaps)

2 (500 ml) cups butter

680 g chocolate chips

4 (1000 ml) cups flour

2 (500 ml) cups brown sugar

2 tsp. (10 ml) Bicarbonate of soda

1 tsp. (5 ml) salt

2 (500 ml) cups sugar

500 g Grated Cadbury chocolate

5 (1250 ml) cups blended oatmeal

4 eggs

2 tsp. (10 ml) baking powder

2 tsp. (10 ml) vanilla

3 cups (375 ml) chopped nuts (optional)

Measure oatmeal, and blend in a blender to a fine powder. Cream the butter and both sugars. Add eggs and vanilla, mix together with flour, oatmeal, salt, baking powder, and bicarbonate of soda. Add chocolate chips, grated Chocolate and nuts. Roll into balls, and place two inches apart on a cookie sheet. Bake for 10 minutes at 180 C.

The above quantities make 112 cookies. Enjoy!"

UK-Better Sentiments?

This is a Reuters report on conflicting sentiments on the growth of the British economy.

Reporting from London on June 29, Reuters reported that Britain's financial service companies are more optimistic than at any time in the last two years, although banks remain downbeat about their prospects, the Confederation of British Industry and accountants PricewaterhouseCoopers said today.

A balance of 13 per cent of all firms polled in a CBI/PwC survey said they were more optimistic about their overall business situation than they were three months ago, marking the first quarterly increase since 2007.

In the previous survey in March, a balance of 34 per cent of firms polled said they were less optimistic.

The more bullish mood was reflected in an expectation that sales would increase, with a balance of 11 per cent of firms predicting stronger business volumes over the next three months, the highest reading since March 2007.

"Having seen business volumes tumble continuously for 21 months, some parts of the financial services sector look like they may be starting to come through the worst," said CBI chief economist Ian McCafferty.

However, the overall pick-up in sentiment masked persistent gloom in some sub-sectors. In the banking industry, a balance of 32 per cent of lenders said they were less optimistic, an improvement compared with 57 per cent in March, but still "firmly negative", the CBI and PwC said.

The downbeat banking sector outlook partly reflected worries about bad debts, with 51 per cent balance of all firms polled reporting higher loan impairments in the current quarter, and a balance of 50 per cent expecting another increase in the next three months.

"The probable impact of the recession on impairment charges and the impact of new regulation will remain a significant pre-occupation for the sector for some time to come," said John Hitchins, British banking leader at PwC.

British banks have been hit by a surge in bad debts as a shrinking economy, rising unemployment, and falling asset values leave increasing numbers of borrowers unable to service their loans.

In contrast, sentiment among life insurers was at its highest in five years, with a balance of 75 per cent of firms declaring themselves more optimistic despite weaker sales and lower profits in the last three months.

The improvement was driven by hopes of a sales recovery on the back of recent stock market rises and signs of housing market stabilisation, the CBI and PwC said.

The survey also showed that more financial sector workers are set to lose their jobs, with a balance of 28 per cent of all firms saying they expected headcount to fall in the next quarter, and 33 per cent reporting job losses in the last three months.

The survey was conducted between May 20 and June 3.

Let us wait for more current data coming through for the second quarter.

Neck to Neck

Can you imagine yourself constricted at the neck by coil-rings? Uncomfortable, don't you think?

But the Padaung or Kayan Lahwi,a group of the Karenni people, a Tibeto-Burman ethnic minority of Burma wear these rings around their necks.

Womenfolks start wearing the brass neck coils at the age of five. Each coil is replaced with longer coils as the weight of the brass pushes the collar bone down and compresses the rib cage.

Contrary to popular belief, the neck is not actually lengthened; the illusion of a stretched neck is created by the deformation of the clavicle.
Many ideas regarding why the coils are worn have been suggested. One of them is the coils might be meant to protect from tiger bites.

Kayan women, when asked, acknowledge these ideas, but often say that their purpose for wearing the rings is cultural identity (one associated with beauty).

I, for one, do not see any beauty in this. It deforms the body,is an oddity and borders on the hideous, for want of a more cultured word.

An Indian Joke

Be Positive just like this boy.

A Lady Teacher was having trouble with one of her students in 1st Grade class. Madam asked,'Boy. What is your problem?'

Boy answered, 'I'm too smart for the first-grade. My sister is in the third-grade and I'm smarter than she is! I think I should be in the 4th Grade!'

Madam took the Boy to the principal's office. While the Boy waited in the outer office, Madam explained to the principal what the situation was. The principal told Madam he would give the boy a test and if he failed to answer any of his
Questions he had to go back to the first-grade. Madam agreed.

The Boy was brought in and the conditions were explained to him and he agreed to take the test.

Principal: 'What is 3 x 3?'
Boy.: '9'.

Principal: 'What is 6 x 6?'
Boy.: '36'.

And so it went with every question the principal thought a 4th grade should know. The principal looks at Madam and tells her, 'I think Boy can go to the 4th grade.'

Madam says to the principal, 'I have some of my own questions'.

'Can I ask him ?' The principal and the boy both agreed.

Madam asks, 'What does a cow have four of that I have only two of'?

Boy, after a moment 'Legs.'

Madam: 'What is in your pants that you have but I do not have?'

Boy.: 'Pockets.'

Madam: What starts with a C and ends with a T, is hairy, oval,
delicious and contains thin whitish liquid?

Boy.: Coconut

Madam: What goes in hard and pink then comes out soft and sticky?

The principal's eyes open really wide and before he could stop the answer, the boy was taking charge.

Boy.: Bubblegum

Madam: What does a man do standing up, a woman does sitting down and a dog does on three legs?

The principal's eyes open really wide and before he could stop the answer.

Boy.: Shake hands

Madam: You stick your poles inside me. You tie me down to get me up. I get wet before you do.

Boy.: Tent

Madam: A finger goes in me. You fiddle with me when you're bored. The best man always has me first.

The Principal was looking restless, a bit tense and took one large peg of Captain Morgan rum.

Boy.: Wedding Ring

Madam: I come in many sizes. When I'm not well, I drip. When you blow me, you feel good.

Boy.: Nose

Madam: I have a stiff shaft. My tip penetrates. I come with a quiver.

Boy.: Arrow

Madam: What word starts with a 'F' and ends in 'K' that means lot of heat and excitement?

Boy.: Fire truck

Madam: What word starts with a 'F' and ends in 'K' & if u don't get it, u have to use your hand.

Boy.: Fork

Madam: What is it that all men have one of it's longer on some men than on others, the pope doesn't use his and a man gives it to his wife after they're married?

Boy.: SURNAME.

Madam: What part of the man has no bone but has muscles, has lots of veins, like pumping, & is responsible for making love ?

Boy.: HEART.

The principal breathed a sigh of relief and said to the teacher,

'Send this Boy to IIM AHMEDABAD (Indian Institute Of Management)

I got the last ten questions wrong myself!'

The Watchseller

Not that he is old. Perhaps he is in his mid 40s.

I have seen him here for the last 20 years or so. He plies his trade at the Taman Paramount Night Market on Sundays. At other times, he can be seen hawking his wares without a licence at the SS2 morning market.

He told us a couple of times he was caught by the enforcement officers form MBPJ.

I guess his is not an easy business. He has to get up early and drive his van to his "spot" at the designated market. Then he and his wife will have to put up the tables and display all the watches, wall clocks and alarm clocks. If it rains, then business will not be good.

We go to him if we need our straps changed or to buy new batteries for our watches.

He is a very pleasant man.

Feng-shui

Mumbo jumbo? Or is it plain logic?

Yes, listen to these feng-shui masters. They have an explanation for everything. House too close to a T-junction?. Do not fret. A pakua will do the trick.

You want children? You want money to flow in? They will prescribe.

Feng-shui masters are a breed of the own. They exists just on the periphery of normal logic, clothing their explanations according to signs and symbols.

It is a classic case of either you believe him or not. If you do, you tend to follow his every word as if he is a demi-god. If not, you dispense with his advice and go on following the faculty of your logic.

To each his own, so they say.

Tired Golden Geese?

I attached a post I made about Genting and Resorts World on April 16,2007.

Seen from hindsight,all the worse fears came and now Genting and Resorts World is traded at huge discounts.

Read this post to know the issues then in April 2007.

"Both counters went ex-subdivision on 11 April 2007, amassing huge gains. Gentings added 50 sen and Resorts took in 28 sen. However, on the following two days, the mood turned nasty and they sold both counters down the river. Gentings went as low as RM8.35 and Resorts to RM3.40.

Why is there this contrasting scenario before the subdivision and after the subdivision of the shares? No facts have changed. The negative news of UK 's intention to subject betting licences to additional taxes or for that matter the uncertainty of the Sentosa Island casino licence has not changed. The market is fickle!

The only logical explanation is that those who had the extra lots wanted to dispose of them because there believe there was no longer any “up-side news”. To play safe,they will just hold a lot or two as keepsakes and locked away all the profits. Similarly, some Singapore fund-managers could have sold on Day 1 because of the good profit margins. Then, there are the jittery sellers who saw the breaching of the 1,300 level as Bursa Armageddon and have been liquidating. Other than that, there is just no good reason for the selling pressure.

Both Gentings and Resorts are solid blue-chips and should pay well in the medium term. As we take cognizance of the downsides of both counters, let us not be unduly disturbed by short-term analysis. Analyses are based on static facts but the market is dynamic. Anything can happen. To me, both counters are dynamic and resilient.

From time to time, I will make my comments on both theses counters. The important thing is to look for the new support price of both counters. It appears that the support price of Gentings is RM8.75 and Resorts -RM3.50.

Resorts had never offered an IPO to the investing public except for a restricted bumiputra public offer way back in the late 80s. At the current price level, Resorts is now going for RM3.50–dirt cheap by any standard. Good to collect for the medium term.

As for Gentings, when was the last time you could confidently buy up a lot or two? Just like Resorts, it is rather inexpensive at RM8.75. The Bursa seems to have run out of good counters at this point of time and my belief is, Gentings still possess good ‘intrinsic value’. So do not hesitate, invest in this counter.

For your information, I have seen the market collapsed during the First Gulf War and during the Asian currency meltdown in 1997. Believe me, on both occasions, the counters that rebounded the fastest were gaming stocks like Gentings, Resorts, B-Toto and Tanjong. Also during recession, these are the best defensive stocks. Dividend-wise, Gentings and Resorts have been paying fair dividends.

The world is Gentings’s and Resorts’s oyster. Good news can be created by the dynamic Gentings Group when opportunity arises. A changing scenario can impact prices again towards a northerly direction for both counters."

I believe there is still a lot of steam left in both counters for us to look at them for inclusion into our portfolio.