VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

Wednesday, May 13, 3:40:26 [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, [2], 3, 4 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 27/02/04 19:17
Author: Jacob
Subject: Re: 交通費
In reply to: 新界人 's message, "交通費" on 25/02/04 5:04

Ironically, I am glad to hear that the share price of MTR slipped a bit. I hope the HK Government can consider to re-nationalising MTR to become wholly owned by HK government, i.e. "go private" instead of "go public".

I disagee with most critics in newspapers. They buy the idea of selling KCR further to public. I don't.

If the merger fails and MTR remains as it is, 400,000 shareholders will face a gloomy future of MTR profitability. The present annual returns rate of MTR is on the low side, around 4% per year. Government should purchase back the shares and proceed with the merger instead of selling KCR assets to MTR. This will involve some cash outflow and a write off of reserves. However, I think it can be a bargain. The nationalised nature can ensure fuller information disclosure and better accountability to public.

I disagree with some financial critics that the saving of costs will not be enough to support a significant fare cut simply because there will be no layoff. Short term share speculators or CEOs that want fast results for a golden handshake often grab 2 companies, cut half of the staff and merge the companies. It sounds like a silver bullets to raise share price. It may help to deceive some short term speculators. Even primary students can do it. Such CEOs are not doing business. The human assets are disposed of unreasonably. The social costs are enormous. The business will be ruined. Poor services, expensive mistakes and accidents will come later. It often happens after the CEO kisses the company goodbye and goes to another company.

Government is not a speculator. Rail corps are not for short term speculation. They are service providers with a mission to provide efficient and effective services with stable employments. Any accident will be more than expensive mistake.

I believe that a balance between affordable fare with profitability is possible. I will not press the rail corp to make hugh profit in the first year of merger. I may even tolerate a loss if so happened after the merger with a significant fare cut. I hope the public should give the rail corp more time.

The balance can be achieved when the fare cut is significant, not the deeper the better, together with a lower level of profit or even a slight loss that can be recoverable in an acceptable medium term. The initial low profit or even slight loss can be recovered by better synergy and eliminate of duplication of works. Government should conduct the business in a responsible and sustainable way and not like an irresponsible company stripper CEO.

The human assets and eventually the competitiveness of the business will be gone by short term dysfunctional action. Also, the ripple effects to the whole society when a government takes the lead to break job security is enormous.

I am neither a Theory X nor Theory Y believer. However, I think it is too pessimistic to assume saving can only be achieved by laying off. I believe in human assets and the possiblility they create. More trust should be placed to the staff of KCR and MTR. Give them some time to build a team and work out miracle for Hong Kong. Let them improve the services and show their professionalism like the medical professional that Hong Kong can be proud of during the war on SARS.

In short, for the public's benefit, success is not measured by maximisation of profits. Public lose if rail corp makes hugh profits by abusing monopolistic power and keeping fare price unreasonable and unaffordable to public. On the other hand, the fare cut should not be as deep as possible. Proper reserves for maintenance and future development must be kept.

A safer and more efficient staff force with good morale that brings more economic activities like more shopping, more MTR properties rental income, more customer satisfaction and more international turnkey projects with more solid asset backing is not a dream.

I hope HK Government and public can treat the merged rail corp as a long term investment rather than a company stripper exercise.

To come clean, I have no friends and relatives working in KCR and MTR. I am an unconventional Victoria Park Uncle that believe in democracy and human rights. I simply want to give some brainstorming.

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

  • 他們交的稅多,其他福利也多,不單單補貼在交通費上. (NT) -- Peter, 1/03/04 1:50
    [ Contact Forum Admin ]

    Forum timezone: GMT+8
    VF Version: 3.00b, ConfDB:
    Before posting please read our privacy policy.
    VoyForums(tm) is a Free Service from Voyager Info-Systems.
    Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.