The Sawi red buses in beirut were great till 1999 when they started giving bonuses for profit above a certain amount and the drivers got greedy. Trips from dora to hamra started taking 4 hours as the drivers started to slow down more and more to collect more passengers per trip. Eventually they removed the fixed paychecks and started "renting out" the buses to those drivers which completely destroyed them.rolf wroteThat's a good thing, as long as the 70 million dollars go back to their rightful owners.hussam wroteUnfortunately someone will pull a few strings to prevent that from happening because it may hurt the current bus drivers.NuclearVision wroteoff-topic: beirut might be getting a modern bus system, with moderns buses, ticketing, bus stops, timing, etc.
I read that the plan is put, and they're waiting for the funding which is 70million dollars
This is a bit off topic, but since everyone is voicing their opinion, I would just like to say that am not happy or excited to see this amount of money being blown on something that will probably quickly become as decrepit as what we have today and loose all interest.
How about they start with printing a map of routes, and organizing what we already have now? Maybe incremental improvements, and put a framework in place for organic growth?
People forget, but Beirut acquired a fleet of buses in the 90ies. Also, is anyone familiar with with the Charles Helou bus station? This is what tends to happen with big, well funded projects from above which are disconnected with the needs and realities on the ground. People fill their pockets, take credit, and then the whole thing gets abandoned and falls in disrepair.
Investments in Lebanon?
I would say look for the right start ups and try supporting them. It's very important to find the right now before investing. Also support Lebanese start ups.
Example: Paribus - Great idea for a start up and they're Lebanese.
Example: Paribus - Great idea for a start up and they're Lebanese.
Majority of startups not realistic. Many are driven by people who has zero experience in business. I know some only, who had very good teams and capable to do real work (they are members of Lebgeeks, even not visiting here lately much). Others are good at talking only.
I am in the same boat as you and I'm getting slightly more than 6% (6.5+ as the amount increases) from Fransabank.JackB wroteI've been looking for good investment opportunities in Lebanon for the past year, but can't find anything interesting. I'm getting 6% yearly interest on my Lebanese pounds in the bank, so I'm looking for something with a yield above 12% to make it worth the extra headache. Ideally I'd like something without any management time from my side. Any ideas? (please don't tell me real estate...)
I moved back from Canada 1.5 years ago where I used to be able to invest in mutual funds. I studied the markets very well with a financial advisor and we made some very educated purchases which netted me 21% and 25% for 2013 and 2014, respectively.
I can no longer invest in these mutual funds as I am no longer a resident of Canada even though I am citizen.
So, I've been investing in LBP in the bank until I have enough money and a good business plan to start something on my own.
Any other thoughts?
Bitcoin? :D
- Edited
Yeah, invest through proxy?Xsever wrote
Any other thoughts?
Are there similar funds in Europe? UK?