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Archive for September, 2008

Earnings of F1 Drivers

Sunday, September 28th, 2008

The world’s first F1 night race – the Singtel Singapore Grand Prix – just ended with Renault’s Fernando Alonso coming in first, followed by Williams’ Nico Rosberg, and McLaren’s Lewis Hamilton in third position. As usual, we’re concerned with the all-important question: How much do F1 drivers earn? According to a Times Online article, Hamilton [...]


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Financial Companies earned the most Income (and paid the most Taxes)

Thursday, September 25th, 2008

The 3,758 companies in our Financial sector collectively earned $17.5 billion dollars in tax-assessable income last year, trumping the second-placed Wholesale & Retail Trade sector ($15.1b) which has more than three times the number of companies. In third place is the Manufacturing sector with $10.8b. There are 2,995 companies in this sector. Of course, the [...]


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A lot of humility will return

Sunday, September 21st, 2008

Some wise words from Richard Hartung, a former banker who wrote a piece for Weekend Today. The following is (apparently) only available in the printed edition of this weekend’s Today: “The market will reprice itself… A boom tends to over-reward everybody as young executives rush in to become investment bankers, private bankers, property agents, stockbrokers, [...]

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Fall of the Investment Banking Giants

Monday, September 15th, 2008

Just months ago, Bear Stearns, Lehman Brothers and Merrill Lynch were considered to be among the top 5 investment banks. They were the so-called bulge bracket firms – the premiere league players, the Ferraris, the LVs… They are now all gone. Bear was acquired by JP Morgan Chase for just US$10 a share in May [...]

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More in Million-Dollar Club

Sunday, September 14th, 2008

It was 2,121 last year. This year, the number of people in this exclusive club is 2,751. Not an actual club where people exercise and socialise, this virtual club consists of people who made a million dollars or more last year. As you can see, the number of million-dollar earners has gone up quite a [...]

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How many people made 6-figure salaries last year?

Tuesday, September 9th, 2008

I remember reading somewhere that there are about 70,000 people making $100,000 or more last year. Well, that figure is wrong, at least according to the latest annual report from IRAS. As usual, I analysed the most important appendix in the IRAS report and found that 154,714 assessed taxpayers took home a 6-figure salary last [...]

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