NU6 Paper 2: What pisses you off at the mall? What do you suggest?
By: R090205 (CTG)
Recently, I have read an intriguing and doubtful story circulating in Facebook about a certain man wisely enough to find ways to park his Ferrari on a secured place and yet paying only a minimal amount. Here is the story:
Upon reading the story, I must admit that I was totally amazed and felt awe with the way the man able to think differently that most people could not even think of. However, after a while, I realized that the story is too good to be true, considering that he was able to trick a well thought and proven banking loan process. As far as I know, there is no bank would even try to go through the trouble of making a loan just to earn a very minimal amount of interest. Besides, the bank did check the profile of the borrower only after the loan was granted, which in fact, the bank should have checked the person's capacity to pay before the approval of any loan.
With this, I tried to do some research about the veracity of the story starting with the name of the said millionaire. I found out that Vijay Mallya is a known millionaire from India. According to Forbes.com, as of March 2011, Mallya, is worth US $1.4 billion, ranked 879 in The Forbes World Billionaires Ranking, and 38th in India. This only proves that the man in the story is a real person. However, this still doesn't validate the story.
After further research, I found out that the story was indeed just another version of what was originally as a joke. The story was a popular New York City parking joke dated back in print to at least in 1997.[1]
Nevertheless, whether the story is true or not, the story only points out how the millionaire mind-set works. They are quick to look for the best deals and would even dare to act on it just to achieve their goal.
The millionaire in the story only wanted the most secured place for his beloved Ferrari at the cheapest cost. What more for the ordinary people?
Did you ever experience having a hard time looking for a parking slot in a busy mall? I guess, at some point, you've thought of at least having an assurance and hope not to take too much time of getting a parking slot once you were given the parking ticket at the entrance.
It would be best for the mall goers who usually park their vehicles in the mall to enjoy the benefit of getting an assured parking slot upon entering the parking area.
In line with this, at some point in time before, movie houses were accepting people even the cinemas were already jam-packed and forced some to just sit on the stairs or even stand the whole time. Until such, the system was improved and movie goers are now enjoying the convenience and privilege of reserving their seats without worrying of having no seat at all. Because of the rejuvenation of the system, people now may even do online reservations and payment for movie houses.
This kind of innovation of system in movie houses can also be applied to parking system. Parking systems nowadays in some malls were already an improved system of before, in which it uses automatic counters that monitors the number of vehicles coming in and going out. Some even uses sensors for each parking slot that using green and red light indicators to show whether the slot is vacant or not. These features help a lot, but only on some points. The system still doesn't address the concerns of assuring the vehicle owners of a specific parking slot upon entering the parking area and will not take too much time of finding a parking slot.
With this in mind, I have thought of applying the system of the movie houses to parking system in which the system can assign an available parking slot upon entering the parking area. In this way, the only person entitled to park his vehicle is the person assigned to that slot.
There are some limitations for this kind of feature. But to make it more sophisticated and avoid any room for loopholes, the system can be improved on not only assign specific parking slot, but also restrict other vehicle owners to just occupy any slots they want by adding more security measures of sensors that can monitor specific vehicle on the specific slot.
This might sound costly for the mall owners to invest in this kind of system. However, the huge amount of money that they are getting from high-cost parking fees alone could justify the investment of having a good parking system, in which certainly gives value propositions of convenience and satisfaction to their customers.
This in turn, in the long run, would entice more customers to pay a visit to their malls and would certainly not give the hassle of taking too much on looking for a parking slot especially during mall sales.
I'm sure, in God's time, this kind of innovation in parking system will eventually happen. If it happens in my lifetime, I would consider myself as lucky just to experience such innovative way. :D
3.0
________________________________
[1] http://groups.google.com/group/alt.tasteless.jokes/browse_thread/thread/c2e8a8d8de8db7a5/a2b3692bdb202672?hl=en&lnk=gst&q=Park+New+York+Loan+Bank#a2b3692bdb202672
By: R090205 (CTG)
Recently, I have read an intriguing and doubtful story circulating in Facebook about a certain man wisely enough to find ways to park his Ferrari on a secured place and yet paying only a minimal amount. Here is the story:
An Indian man walks into a bank in New York City and asks for the loan officer. He tells the loan officer that he is going to India on business for two weeks and needs to borrow $5,000.
The bank officer tells him that the bank will need some form of security for the loan, so the Indian man hands over the keys and documents of new Ferrari parked on the street in front of the bank. He produces the title and everything checks out. The loan officer agrees to accept the car as collateral for the loan.
The bank's president and its officers all enjoy a good laugh at the Indian for using a $250,000 Ferrari as collateral against a $5,000 loan. An employee of the bank then drives the Ferrari into the bank's underground garage and parks it there.
Two weeks later, the Indian returns, repays the $5,000 and the interest, which comes to $15.41.The loan officer says, "Sir, we are very happy to have had your business, and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi-millionaire. What puzzles us is, why would you bother to borrow "$5,000"?
The Indian replies: "Where else in New York City can I park my car for two weeks for only $15.41 and expect it to be there when I return"
This is a true incident and the Indian is none other than... "VIJAY MALLYA"
Upon reading the story, I must admit that I was totally amazed and felt awe with the way the man able to think differently that most people could not even think of. However, after a while, I realized that the story is too good to be true, considering that he was able to trick a well thought and proven banking loan process. As far as I know, there is no bank would even try to go through the trouble of making a loan just to earn a very minimal amount of interest. Besides, the bank did check the profile of the borrower only after the loan was granted, which in fact, the bank should have checked the person's capacity to pay before the approval of any loan.
With this, I tried to do some research about the veracity of the story starting with the name of the said millionaire. I found out that Vijay Mallya is a known millionaire from India. According to Forbes.com, as of March 2011, Mallya, is worth US $1.4 billion, ranked 879 in The Forbes World Billionaires Ranking, and 38th in India. This only proves that the man in the story is a real person. However, this still doesn't validate the story.
After further research, I found out that the story was indeed just another version of what was originally as a joke. The story was a popular New York City parking joke dated back in print to at least in 1997.[1]
Nevertheless, whether the story is true or not, the story only points out how the millionaire mind-set works. They are quick to look for the best deals and would even dare to act on it just to achieve their goal.
The millionaire in the story only wanted the most secured place for his beloved Ferrari at the cheapest cost. What more for the ordinary people?
Did you ever experience having a hard time looking for a parking slot in a busy mall? I guess, at some point, you've thought of at least having an assurance and hope not to take too much time of getting a parking slot once you were given the parking ticket at the entrance.
It would be best for the mall goers who usually park their vehicles in the mall to enjoy the benefit of getting an assured parking slot upon entering the parking area.
In line with this, at some point in time before, movie houses were accepting people even the cinemas were already jam-packed and forced some to just sit on the stairs or even stand the whole time. Until such, the system was improved and movie goers are now enjoying the convenience and privilege of reserving their seats without worrying of having no seat at all. Because of the rejuvenation of the system, people now may even do online reservations and payment for movie houses.
This kind of innovation of system in movie houses can also be applied to parking system. Parking systems nowadays in some malls were already an improved system of before, in which it uses automatic counters that monitors the number of vehicles coming in and going out. Some even uses sensors for each parking slot that using green and red light indicators to show whether the slot is vacant or not. These features help a lot, but only on some points. The system still doesn't address the concerns of assuring the vehicle owners of a specific parking slot upon entering the parking area and will not take too much time of finding a parking slot.
With this in mind, I have thought of applying the system of the movie houses to parking system in which the system can assign an available parking slot upon entering the parking area. In this way, the only person entitled to park his vehicle is the person assigned to that slot.
There are some limitations for this kind of feature. But to make it more sophisticated and avoid any room for loopholes, the system can be improved on not only assign specific parking slot, but also restrict other vehicle owners to just occupy any slots they want by adding more security measures of sensors that can monitor specific vehicle on the specific slot.
This might sound costly for the mall owners to invest in this kind of system. However, the huge amount of money that they are getting from high-cost parking fees alone could justify the investment of having a good parking system, in which certainly gives value propositions of convenience and satisfaction to their customers.
This in turn, in the long run, would entice more customers to pay a visit to their malls and would certainly not give the hassle of taking too much on looking for a parking slot especially during mall sales.
I'm sure, in God's time, this kind of innovation in parking system will eventually happen. If it happens in my lifetime, I would consider myself as lucky just to experience such innovative way. :D
3.0
________________________________
[1] http://groups.google.com/group/alt.tasteless.jokes/browse_thread/thread/c2e8a8d8de8db7a5/a2b3692bdb202672?hl=en&lnk=gst&q=Park+New+York+Loan+Bank#a2b3692bdb202672
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