Tuesday, January 02, 2007

Sense of urgency

JSX composite index closed with 55% growth last year and could easily pass the 2,000 point. But nothing special. Russian stock market grew higher at 67%, Shanghai almost 100%. So, I don't see the urgency of President SBY's visit to JSX today to officially open the 2007 trading activity. All we need is investment in the real sector that creates more jobs. Besides, we have lots of problems lately with safety of our public transportation services that deserved serious attention from the president.

The crash of Adam Air in West Sulawesi that killed more than 90 people has raised concern about the safety issue. On September 5, 2005, a Mandala Airlines’ Boeing 737-200 crashed just after take-off into a crowded residential neighbourhood of the north Sumatran port city of Medan, Indonesia’s third largest city. At least 102 crew and passengers were killed, as well as 47 local residents.
Indonesia's worst was in September 1997, when a Garuda Airbus A-300B4 crashed in a mountainous area near Medan, killing all 222 passengers and 12 crew.
What's shocking this time is the sequence of disasters. Just hours before Adam Air crashed, several ships sinked in various areas with hundreds of people missing. Some blamed bad weather, but others pointed to gross neglience of passenger's safety with overloaded cargoes.




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