Where Eagles Dare….
Ravi Perera
“The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright brothers. Indeed, if a far-sighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favour by shooting Orville down”- Warren Buffett, famed investor known world over as the oracle of Omaha
“Sri Lankan Airline…you are our world…” Sri Lankan Airline advertisement
Sri Lankan Airlines | File photo
Obviously among our population there are only a handful that can claim a sound knowledge of business or economic realities. On the contrary, many seem to have a distorted vision of how and why things happen. The vast majority in this country would have no concept of how public money, which is collected through various taxes on the people, is utilized and accounted for. That every telephone call made from a government owned telephone to every car used by the government is paid for with his money is an idea which will appear far-fetched to the average Sri Lankan who according to statistics earns only about US$ 3000 an year ( In fact many would envy an annual income amounting to $ 3000 !). He little realizes that the parliament, to which he elects a member periodically, is the ultimate authority in accounting for public money.
