User profile: Geezer

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Forums > Study > Profit margins for Chinese-language colleges in Kunming

Taught simple English to kids 6-8 years old. About 40 kids in a class. They paid 30RMB for a class and I was paid 250RMB. Taught the same material for 8 class a day (sat and Sun). The school got about 19,000 per weekend and I got 8,000. And, yes I did get paid all of it. In Changping near Beijing.

Taught at a private school in Beijing, Students paid 80,000 a year plus living, plus food, plus books, plus, plus. Subject teachers, not English teachers, were paid 10,000 a month, foreign and Chinese both for 12 hours max. Most taught 8 hours for Math, Chemistry, Physics, Accounting, Statistics, etc. all A level courses with UK books. Silly owners fired the headmaster who took 80% of the students to his own new school. This school folded I think.

Private schools usually get the tuition and boarding fees upfront. They tend to run out of money toward the end of the year which makes return air ticket money iffy.

Breakeven depends on rent and the number of non teaching staff, you know the guys that hang around all day reading newspapers and plying cards. One private school I worked at had 65 Chinese and foreign teachers with over 200 total staff most of which did little or nothing.

Rent is a mystery. One school paid annual rent of 25% of tuition collected - this school folded. Other schools had cost reduction programs, firing teachers or abusive fines. Fines for failing to report to a class when the time and day had been changed but kept a secret from the teachers. Class schedules and notices are sometimes posted in Chinese in areas the foreign teachers don't frequent.

I don't usually teach English and usually get to pick the text with the requirement the text be less than 3 years old.

Private schools hire foreign teachers for marketing reasons. My face has appeared all over the place and my resume greatly enhanced (in Chinese).

If foreign teachers get paid more at a private school, tough, the smiling white faces bring in the revenue and job opportunities for Chinese teachers.

I have also worked at two government universities. At both schools, Chinese professors taught less hours and earned more money. I gather the Chinese get a basic salary, around 1200 at my uni, then get paid for hours times a factor (prep or difficulty) and also extra money for extra assignments. One Prof said his 1200 was upped to more than 4500 based on the pay scheme. Me? I get 3700 for 9 class hours contact time but that is 11 paid hours if I was paid according to the Chinese scheme.

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Forums > Living in Kunming > Hot water heaters

Laotou is right. My apartment has an electric water heater and aside from the risks it wasn't very productive in winter. My landlord, who was living in Germany, agreed and suggested I buy and have installed a gas heater and he would repay me.

I did buy an 80L heater (OK for one person) for about 1300RMB installed.

Hot water is glorious!

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Forums > Study > Keats School

Sorry SFL, the potential student is 12 years old and proximity to the Hump Bar is not a selling point. :-)

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Forums > Living in Kunming > "retirement visa"

A Chinese acquaintance insists there is now a retirement visa available in China. I can't find any mention of such a visa anywhere. Has anyone any knowledge of this visa option?

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Geez, what a bunch of sensitive foreigners. Frankly, I love fresh durian, stinky tofu, hotpot and don't mind incense. I like nuoc mam too. Hate to ask but WTF are you guys doing in China?

Now that Bluegogo has gone Byebye, we can get an idea of who made money, and how, providing shared bikes. The unknown is the actual cost of the bikes, A Bloomberg article puts the Bluegogo cost at $400 USD (¥2640) each which I doubt. Mobike says their cost per bike is ¥1000 and other companies say between ¥300 to ¥600 per bike.

Using an exchange rate of 6.6 yuan/1 USD, here is Blugogo's take:

Investors poured in $58.1 Million USD.

20 Million riders forked up deposits, at an estimated ¥99 Yuan each, totaling a cool $300 Million USD.

Cost of 600,000 bikes varies:
Each ¥400 is $36.6 Million USD
Each ¥600 is $54.6 Million USD
Each ¥1000 is $91.2 Million USD
Each ¥2640 is $240.0 Million USD

Net cash flow to the PROMOTERS before salaries, rents and operating expenses
(Investors + Deposit less cost of bikes):

Bike cost each ¥400 is $321.5 Million USD
Bike cost each ¥600 is $303.5 Million USD
Bike cost each ¥1000 is $266.9 Million USD
Bike cost each ¥2640 is $118.1 Million USD

My guess is a bike cost of about ¥600 before kickbacks and over invoicing which leaves more than $200 Million USD for the PROMOTORS. Along the way a bank or two might have made working capital loans and a few nice cars were bought. To lower exposure some stock buybacks from selected investors might have been made. The secrets are all in the books of Bluegogo if they can be found or reconstructed. If I was still teaching Accounting I would use Bluegogo as a teaching tool.

Moral: In China forget profits, look at cash flows, big front money and promotor benefits for quick bankruptcy. Slam Bam, thank you mam, badabing, badabam and Adios!

@vicar: You make a good point and I agree. However, China has invested heavily in lithium battery production and the capacity online is no way near being used.

To me it is pretty much 1-2-3: 1 - China's lack of liquefied dinosaurs, 2 - A strong domestic demand for autos and the ability to meet that demand, and, 3 - A really relaxed attitude toward environmental concerns means lithium battery production is a lower cost deal in China.

Lithium batteries are really nasty things that, besides a tendency to go boom, have a lot of bad news byproducts that are hard to get rid of.

Reviews

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Good for quality, but pricey, hand tools.

Be aware they will push whatever they are selling. Some of the staff have no idea about the technical side of appliances.

I went there to buy a stove. I repeatedly told them I would be using bottled gas. They sold me a stove. When I went to my local gas guy, I learned there are at least three kinds of gas sold. Luckily, B&Q did not deliver as promised. I went back to the store and discovered they had sold me a stove they needed to be hooked up to the gas main. I got my money back.

The sales lady was almost in tears, 没有问题!I don't know if it a safety or design issue, but I would think B&Q would know and care.

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Last week had an 8:45am flight.

Subway starts at 9am. I have no idea where to catch an airport express bus. Eight taxis refused to go to the airport. After almost an hour standing on Beijing Lu took a black taxi, this dude drives slower than my mother, 120 yuan.

Flight back was delayed so I learned the subway stops running at 6:10pm.

Getting a taxi back was easy, more taxis than customers. Taxi was 87 yuan including 1o yuan toll, airport to Beichen area. Yes, he took a longer route than necessary.

Kunming imagines being a gateway for international travelers. New airport but hard to get to and from it.

World Class Airport, NOT!

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Tonight "Peacock", a performance by Yang Liping (杨丽萍), to begin her world tour, 8pm, 100-1680 yuan at Yunna Haigeng Auditorium.

Saw this lady perform at the Pasadena Civic Auditorium, in California, in 1995. Quite a good and interesting show.

I'm going to try to make it.

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Not so good. Kimchi had a very sour taste. Other food was nothing to brag about. I don't think I would go back.