A GEM from a MORON in todays SCMP.....
From the letters section..........
"I was alarmed to read of Cathay Pacific's record loss for 2008. It has prompted me to suggest some cost cutting initiatives to Cathay Management.
Many Hong Kong - based pilots have multiple careers, first as property developers, and second as pilots ( flying only takes three to four days per month)
Cathay permits staff to convert their housing allowance into mortgage payments. When property debt reaches zero the employee either loses this allowance or buys another property in the same manner.
As a result, second and subsequent properties are often leased to new Cathay staff relocating to Hong Kong. The objective here is to maximise tenants housing allowances and offer rebates to reflect the true market price and split the difference. I suggest Cathay trims down the number of Hong Kong based pilots, allowing them to reside in home countries to which Cathay flies.
Pilots needing to stay in Hong Kong can stay at Cathay City before piloting a flight to their home base, or be given duty travel. Cathay would save on housing alowances, properties in bubble locations such as South Lantau would reflect their true values, and rebates to friends would stop.
This has to be a win - win situation for Cathay and residents"
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Sour grapes? Or something else???
Funny none the less!!!