July 11, 2009
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Nil Interest
In my new found affluent position I have managed to get the debts down a lot, and almost completely wiped out, so it is time to go back in to debt, the idea to buy either a Suzuki 600cc or Kawasaki 650. The Skywave has done a great job but after 4 years, it’s time to trade up and get something that has a little more zoom zoom.
The problem is that Taiwanese financial institutions want someone as a guarantor, in case you do a runner. Of course the fact that you have a big bastard bike which could be used as that collateral is not the point, and also not accepted. So when I am talking with the financial people, I tell them that last time I got a Suzuki, I was given credit over 6 months That is what I want again. Last time I paid, this time I will pay.
However the banks are not playing this time round. Some would say who can blame them, but with everyone eager to make some money, there is one institution that is seriously taking the piss. One company said no problem – they will lend me enough to get the Suzuki. I listened as the guy reeled off the interest costs. A per annum rate of 40 (yes, forty)%.
“Are you having a laugh mucker?” I asked, my sarcasm going whoosh over the poor bloke’s head.
So to save my cash I have decided instead to save up the whole amount so I can hand over the wonga and take home the new bike. The guy who suggested this institution will not be getting my business – I have pretty much now decided that Suzuki (at least the official dealer in Taipei) will not be getting my business for stuff like that.
The same weekend I went to have a look at a Honda S2000 I had seen. It is time for wheels, and whether I end on 2 or 4 is still open. I sat inside it, it felt good. It felt very good. I asked the price. It felt bad…. Twice as bad as I had hoped, and definitely out of my range at US$40000. For a 5 year old car. But damn…
The 3 months are over and probation period has finished. El Pres asked me to take a pay cut. I knew he was going to. I also said no.
“But you’re so expensive,” came the stupid excuse for this pointless cost cutting measure.
“I am not the one costing you money. I am the one bringing in the money,” I replied.
I may earn about the same as 4 employees in the sales department, but I bring in more than the complete sales team combined. I asked, “the guy who brought in US$350 in sales last month, he’s the expensive one. So don’t you think you should concentrate on those who are not performing, as opposed to the ones who are?”
More meetings and negotiations are planned with El Pres, but he knnows that when it comes to talking about my salary and money, I keeep very quiet there. I'm not accepting a pay cut - he brought me here to do a job and that is the job I am doing. When it comes to me gettig less wonga - sorry... not interested!
