The BIG Breakdown or Meltdown
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Chenonceau:
It has been reported by d media so.
Let's not jump to conclusions eh?shinri:
Not sure whether you guys can see this:
http://forums.asiaone.com/showthread.php?t=45496
It's said the claws were fastened using cable ties??
Looks like a stop gap measure while further investigations n a more permanent solution r being sorted out.
D claw is not load-bearing from d pix. d cable ties r just to hold d claw in place.
D trains r instructed to slow down to 40 kph in d sections where d floating slabs r located (dat’s where most loose claws were found) so as to reduce d amount of vibration n therefore d chance of misalignment of d 3rd power rail.
Though I am puzzled by a pix of a Channel News 5 reporter holding up 3rd wheel assembly with cable ties securing a claw to it when there r already three bolts doing that n she saying dat d cable ties provide added strength, which IMV can be misleading. Is her comment dat d cable ties provide strength dat causes d confusion n concern? -
Chenonceau:
a huge part of d profit under her watch came from rentals, though a smaller proportion can be attributed to increased ridership.[
If they agree to live with the same quantum of profits as when SPH took over... they should not have to increase the fares. Profits have CLOSE TO TRIPLED since she took over. That is where your money goes to. NOT more training. NOT more maintenance. NOT new trains nor more trains. NOT bus routes that are less than packed but convenient for commuters. Your increased fares goes into PROFIT.
Bring down that profit.
\"Under her leadership, SMRT's net profit grew from $56.8 million in 2002 to $161.1 million this year. Rail ridership has also gone up, averaging a combined 1.79 million a day in September.\" (Straits Times, 19 Dec 2011) -
Way2GO:
How much came from increased price? If they're making money from rental and advertising then why increase price every year? When I buy newspapers, I know that the journalists are paid from advertising revenue rather than the few cents the paper cost me.
a huge part of d profit under her watch came from rentals, though a smaller proportion can be attributed to increased ridership.
It is unconscionable that profits can triple, they have multiple sources of revenue... and they raise prices on all those too poor to buy a car. This is profiteering at its worst.
I had never come to any position on this matter till today when I read how profits TRIPLED. People are angry about the disruption but today, for the first time I realise the degree of exploitation of the masses SMRT has been engaged in. This is BEYOND complaining about service disruption. It is a matter of social justice.
In a fully competitive market. Ridership will dip after such a terrible service disruption. This will not happen to SMRT. They can increase all the prices they want on you and you will STILL take the MRT because there are few, if any, parallel bus routes AND there is ONLY ONE rail... and most people have no money for cars and taxis.
Getting rid of SPH is not the issue here. The NEXT CEO will similarly be incentivised to profiteer. -
Chenonceau:
I agree with u dat for an essential public service, d service provider's overriding motive cannot be profit maximization.
How much came from increased price? If they're making money from rental and advertising then why increase price every year? When I buy newspapers, I know that the journalists are paid from advertising revenue rather than the few cents the paper cost me.Way2GO:
a huge part of d profit under her watch came from rentals, though a smaller proportion can be attributed to increased ridership.
It is unconscionable that profits can triple, they have multiple sources of revenue... and they raise prices on all those too poor to buy a car. -
I am just being curious...and found the 2 threads (not sure how true though
http://forums.hardwarezone.com.sg/eat-drink-man-woman-16/you-gt-read-newspaper-say-45%25-smrt-earning-comes-rental-sia-3530059.html
http://forum.channelnewsasia.com/showthread.php?26291-Root-Cause-of-SMRT-breakdown-8-of-revenue-spent-on-repair-and-maintenance
So 45% from rental and the other thread 8% on repair and maintenance :? -
Chenonceau:
Sorry Chen, disagree here. Profits have to be taken with view on operating costs and asset value. $160 million may seem a lot, but there is a difference if that's a 2% margin or 20% margin.
I had never come to any position on this matter till today when I read how profits TRIPLED. People are angry about the disruption but today, for the first time I realise the degree of exploitation of the masses SMRT has been engaged in. This is BEYOND complaining about service disruption. It is a matter of social justice.
I know you are waving the social justice banner, but the best way to do that is through a taxation regime and income equalisation, with all its attendant drawbacks, and not loss making public services. Are the well off, those Singaporeans living in high-priced landed properties, willing to give up a bigger share of disposable income to fund social programs? I think its a bit much to ask SMRT to shoulder all of societies ills on its shoulders. -
Oppsgal:
Who should bear the costs? Riders, or tax-payers?
And also drive safely, increase the frequency of buses. Give more training to bus drivers, so none lost their way again.Chenonceau:
Trains don't run at night. Isn't that when they normally do track and train maintenance?
How about parallel bus routes to complement the planned route closures, and take the pressure of the rail? They took these away and put in long circuitious routes. This enables buses to pick up more passengers AND it increases train ridership. Very profit efficient but not commuter efficient.
Putting back parallel bus routes would take the pressure of the rail.
With these, will they increase the fare :?
Wasteful duplication, in my view.
Close the lines for regular maintenance, 3.5 hours at night may not be enough for proper serious long term work. Provide bridging shuttles during the times of closure, and not year round. -
3Boys:
This isn't revenue we are talking about. It's profit... money left over after all else has been deducted.
Sorry Chen, disagree here. Profits have to be taken with view on operating costs and asset value. $160 million may seem a lot, but there is a difference if that's a 2% margin or 20% margin.
\"Under her leadership, SMRT's net profit grew from $56.8 million in 2002 to $161.1 million this year. Rail ridership has also gone up, averaging a combined 1.79 million a day in September.\" (Straits Times, 19 Dec 2011)
No one is asking them to make a loss. Their profits tripled. IF they are consistently profitable AND they have tripled their profits, why increase prices every year? AND they have ample time at night to maintain tracks and trains if they want to. Even disrupting service regularly is better than bleeding people dry.
Looking at the increase in SPH's pay cheque, I would say those margins are healthy enough. If operating costs are high because of inefficiency, it is too easy to say margins are insufficient and therefore we should increase profits. The company has no real competitors. Its inefficiencies stay because it is a price giver. -
What is $160 million? Is that exploitation?
Intuitive answer perhaps? But if we scratch a little…
The annual ridership for SMRT in 2010 was something like 600,000,000. 2010 EBIT from train fares was something like $130 million, so EBIT per ride is about $0.22. For any individual, who makes maybe 20 rides a week, that’s about $4.40 a week given to SMRT in profit, or $18 a month.
I admit, for some of the very poor, perhaps a little challenging, but overall, could hardly consider that exploitation, or bleeding people dry? I think some smokers will spend that daily in cigarettes?
(If you ask me, cigarettes are the biggest exploiters of people) -
3Boys:
I would have to confess that your discussion has gone phweet above my head. I am a psychologist, not an accountant. Since I don't quite understand you, I would have to say I stay unconvinced. But that is not your fault. It's mine.What is $160 million? Is that exploitation?
Intuitive answer perhaps? But if we scratch a little....
The annual ridership for SMRT in 2010 was something like 600,000,000. 2010 EBIT from train fares was something like $130 million, so EBIT per ride is about $0.22. For any individual, who makes maybe 20 rides a week, that's about $4.40 a week given to SMRT in profit, or $18 a month.
I admit, for some of the very poor, perhaps a little challenging, but overall, could hardly consider that exploitation, or bleeding people dry? I think some smokers will spend that daily in cigarettes?
(If you ask me, cigarettes are the biggest exploiters of people)
Hence, I would still think that $18 a month of PURE profit per rider is too much. In absolute terms it looks small but considering the NUMBERS of people who take the MRT, it is not small. When I buy something in bulk, I ask for lower unit price too. On a macro level and in absolute terms, TRIPLING pure profit in less than a decade is no justification for increasing price for a captive market EVEN IF ridership tripled. Some of the economies of scale of tripled ridership would have been passed on to consumers in a perfectly competitive market.
Unfortunately, SMRT has no real competition. Even bus routes are planned in such a way as to NOT compete with it.
How much is your monthly newspaper subscription? $15 to get one at your dootstep everyday ... and mind... it is not even pure profit. The newspaper gets advertising revenue. It is still profitable. It does not keep raising prices.
The 2 businesses are quite different surely but whoever heard of $18 a month of PURE PROFIT levied upon a population of close to 6 million people who ALL need to take MRT at some point... and more now because parallel bus services are no longer.
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