talk 735

The Second Tuesday of Even Month Dinner Party

James T. Koo
jtkoo@hotmail.com

Waited for verification of the incredible figure of the U.S. medical cost, I have delayed release this article until now. Some of the information here is no longer opportune.

It was the summer (school) vacation time again. In the past, the oversea Lighters, like the migrating birds, should come back to HK. However, as most of our children are out of school, this seasonal effect is noticeably abating. Anyway, Ben Chinbong came to visit us and was our guest at the “2nd Tuesday of even month” dinner in HK on August 14th.

First Chinbong gave us a brief status of all the Lighters in the SF Bay area. Basically all the Lighters there are in good health and that included Karen Kao, as she is doing well recovering from her successful operation.

Then we talked about the situation of Chemistry Cheung. Many HK Lighters responded. CC Luk told us that they discussed this at the Pui Ching alumni association. This turns out to be a very complex issue. Should the alumni help all old teachers whether he/she taught 10 or 30 years, and was good or bad teacher? Should the local or HK alumni association administrate this potentially worldwide program?

The cost of medical care around the world then became the topic of this internationally minded group. A few weeks ago, the HK Lighters were surprised by my data showing in California, the average hospital cost was about $7,000 a day. Chinbong told us that a friend of his had the ulcerative colitis with a surgery removal most the colon about 3 years ago. The cost was over US$330,000. Later the follow-on surgery was over $100,000. Fortunately Medicare covers most of the Lighters in U.S. today. Even with Medicare covering 70-80% of the cost, the medical care is still prohibitively expensive in U.S. However, the medical cost is much lower in HK and much, much lower in China. Meanwhile Canada, and Britain have “social medicine” with government almost provide free medical care.

Then the results of the HK school cert, and the less than stellar performance by students of Pui Ching were also talked about, but the focus was more on a 14 year old got 9A and 1B and a 9 year old math genius has applied for admission to college in HK (Baptist College accepted him). Is it a good idea to send your 9 year old to college even if she/he is smart enough to do it? One wonders.

Then as usual, we talk more about aches and pains (health issues), food scares, to a lesser degree the toy recall and even about the war in Iraq—all rather negative if not down right depressing issues. To change the subject to a positive tone, noting our resident expert was there, I asked Wai Kwong Fung (F52, WKF) about the stock market. I do not play the stock market, and have no intention of doing so. But on the subject of money, everybody is of the same religion and there would not be any controversies that would hurt feeling. If you have over looked what have been happening in this part of the world, you missed lot excitements. The HK Hang Seng stock index has gone from about 14,000 to 24,000 (71% increase) in the past two years. However, that is anemic compared with Shanghai’s from 1,100 to 5,600 (+500%) in the same time period. It compares the “hot,” “record breaking” U.S. market; the Dow Jones went from 10,500 to 13,300 (+27%) in the last two years.

Before WKF even had a chance to open his mouth espousing his ideas, many at the table competed to ask questions. Understand he has passed out hot tips before; and several stocks recommended have doubled, tripled or even quintupled. As any market experts, WKF started out to answer questions in the esoteric, and vague ways with many high-browed theories. Patience is not one of my virtues, I asked the direct question for a list of stocks. After much plodding, WKF gave out five or so stocks. Many of us diligently copied them down on the napkins and took it home. However, the next day the HK market went down about 700 points, and since then it has been up and down several hundred points a day and even with over 1,000 points intra day fluctuations. Have no idea how these stocks fared. I sincerely hope everybody have done well, otherwise I would feel as an accessory or abettor to the “crime.”

Many things have happened in HK since I have written about a half year ago. Bowtie Tseng won the 2nd term as the Chief Executive of HK as expected. Surprisingly the opposing party in favor of universal suffrage won about a third of the votes. After winning the inheritance lawsuit against her father-in-law last year, Nina Wang, the richest woman in Asia, died of cancer. Instead of passing her fortune to Chinese charities as she has been saying all along in recent years, she will pass her fortune of HK$100 billion or so to a mysterious, rich fung shui master (with a personal private jet), a good personal advisor/friend of her in a new will, so the fung shui master claimed. All the people in HK are waiting for the new soap opera of another HK$100 billion inheritance lawsuit to open. When they found out the “HK Applied Science Center” has paid HK$200,000 or so to a fung shui master, the ever-pragmatic HKers suggested possibly HKUST (Hong Kong University of Science and Technology) should offer a degree in fung shui as the graduates could serve the society well and would have a bright future. Isn’t HK a dynamic, and exciting place?

Anyway, should you be bored with your retirement, tired of sight seeing, or stressed out by working, come to HK and try to make this “Second Tuesday of Even Month” car-sky-car-earth dinner party. We talk about everything between the heaven and earth and beyond.

Several of HK Lighters are getting ready to go to Toronto mini-reunion this week. Hope to see you there.