2010 STC Yearbook

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i......................................................................................................Officer’s words | 執行長的話

pg. 1..........................................................................................2010 STC Events | 2010 STC 大小事 pg. 9.............................................................................................. STC Designations | STC 專業認定 pg. 17................................. What owner shall know about Property Management? | 房東物業管理須知 pg. 18...................................................................................................................... 管理是把雙刃劍 pg. 18.............................................................................................. 武術理念和我所理解的資產管理 pg. 16.............................................................. The Changing Retail Landscape | 產業買賣景觀的變化 pg. 19.................................................................................Accounting Division at STC | STC會計部門 pg. 20............................................................................................................... 快樂每一天∼驚語錄 pg. 21.............Commercial Real Estate Investment & Financing FAQ | 商業房地產投資與融資的常見問題 pg. 23....................................................................................................... Leasing Market | 租賃市場 pg. 23......................................................... My leasing experience of year 2010 | 我在2010年的租賃 pg. 24............................................................................ Safe While you Shop! | 消費安全，安全消費 pg. 25................................................................................................. Overcoming Fear | 克服恐懼 pg. 27............................................................................... Yellowstone National Park | 黃石國家公園 pg. 29........................................................................ My Journey to Asia 2010 | 我的2010亞洲之旅 pg. 31................................................................................................... STC Track Record (Partial List) pg. 33.................................................................................... STC 2010 Reflections | STC 2010 回顧

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ith dedication, Honesty and Knowledge, We at STC Management are committed to grow jointly and successfully with our clients, our Trusted Vendors, and our Valuable Tenants by working diligently and happily.

- STC Mission and philosophy

Officer’s words | 執行長的話 i

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appiness results from the unique synergy we find from maintaining both physical and mental health.

It is our ultimate goal and sincerest hope that we can help more people through our collective efforts. Human resources are the most precious form of capital we have. We believe in a better tomorrow through our unity, diligence, and the kindness of our hearts.

As the current leader of STC Team, I hope that I can create a solid foundation for our STC family, elevate the team to a higher level, and help every Team Member to become happier and successful people along the way.

I truly appreciate everyone’s relentless contribution over the years from the bottom of my heart. We strive to share STC’s resources with everyone. Our focus is to help more people and turn the ordinary into the extraordinary. We believe that the world can be made a better place by working hand in hand with all of those around us. 快樂與 身 心 的 健 康是 我 們 的 追 求 。 真 心 地 希 望 藉由我們的努力與團結，可以幫助更多的人！人是我們的資本，也是STC的 一切。相信明天一定會更好，因為這裡有你、有我，而且我們都有顆善良的心，在認真地圓滿我們的人生。 作為目前STC團隊的火車頭，我最希望的就是能帶領大家走得更穩、更好，以及能幫助我們每一位隊員得到快樂與成功。 STC這 個 平 台 是 屬 於 大 家 的 。 希 望 在 不 久 的 將 來 ，我們可以為所有地球人有所貢獻，讓這個世界變得更美更好！讓我們一 起攜手向前邁進！

Sincerely,

John Hsu, Officer STC Management

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2010events

tale nt...

The day we foun d our hid den

-STC Dance Team

STC Wushu Team 武術 隊 :P

cia tio n Din ner 20 09 ST C Ap pre -Pacific Palm Resort and Hotel

12/13/09

東區 跨年 晚會 9 ST C 20 10 Co unt do wn , Rowland Heights Plaza 12/31/0

Our Beautif ul Receptio nists

-Seasons Place, Yes Plaza

(Accounting

Division)

張智成 Greeting his fans

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2010events Yoshi Japanese Cuisine Grand Opening

-STC Restaurant 1/12/2010

F5 Seminar at Irvine

-Irvine Chinese School 2/27/2010

2010 Lantern Festival

-Seasons Place 2/28/2010

STC Vendor Mixer

-STC Recreation Center 3/11/2010

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2010events

Cutest STC Visitor in 2010

-A Stray came to us by surprise 3/29/2010

For US Foundation Casino Night

-Found raising for School 3/26/2010

方大同簽票會 Autographing Event

-Seasons Place 4/22/2010

Super Idol Contest (US Region)

-Yes Plaza 4/17/2010

Confer e the W nce packed a Restau ruku rant

Fans packed visit th the plaza to eir fav orite s tars 超級偶像美國海選 Super Idol Singing Audition found four future stars to send back

to Taiwan for the final contest

超級偶

像美國

海選

Judges

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Mid Summer Night Concert

-Seasons Place 4/22/2010

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Health Reform Seminar

-Concourse Medical Center 5/22/2010

Making of a public awareness program

-Justin Tsai (STC Leasing Manager) 5/28/2010

康和醫護大樓與STC主辦 和 羅蘭常青會, 羅蘭華人協會 協辦

Guest Speaker: Benson Liao With implementation of the new rules on our health insurance, we took this opportunity to answer some questions on Health Reform for our community members

Collaborating with ETTV and Los Angeles Police Force filming a shopper awareness commercial, STC talks about how to increase the commercial plazas security.

STC資產管理與東森電視台和洛杉磯警方合作拍攝 外出購物安全的公益廣告。STC資產管理在片中談 論如何如何提高商場的安全性。

Concourse Free Health Check Event

-Concourse Medical Center 6/19/2010

About 700 people got served during the event

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2010events Jiangsu Zhongan Construction Group Visits STC -STC Recreation Center 6/3/2010

CREW Women at the Top

-6/17/2010

On June 17, 2010, John Hsu, STC Management Officer and CCIM Greater Los Angeles Chapter President, along with associates, sponsored the Women at the Top awards ceremony hosted by CREW (Commercial Real Estate Women). The event was held at Millennium Biltmore Hotel in Downtown Los Angeles.

中南集團(中南建設)的高層人員來美與STC資產管理公司進行訪談

Zhongnan Group currently has about 30,000 employees, over $250 million in assets, and an annual production value of over $150 million.

14 senior executives from Zhongnan Group, including Chairman of the Board, Jinshi Chen, attended the STC Management visit.

中南建設集團是一間在中國上市公司，在中國專門從事房地產開發， 銷售及物業管理。中南集團目前擁有約 30,000名員工，超過 2.5億美 元的資產，年產值超過 1.5億美元。

The day Kogi Truck became a regular visitor at Seasons Place -Seasons Place 7/8/2010

The women recognized that night for their achievements were Amy Ko, Principal & CFO, AVP Advisors; Lisa Greer Quateman, Esq., Quateman LLP; Angelle Grace Ghiz-Wacker; SVP, NAI Capital; Lisa Glouner, Analyst, LBA Realty; and Dana Brody-Thaw; AVP, Grubb & Ellis.

CREW Network exists to advance the success of women in commercial real estate and is the industry’s premier business networking organization. Members of CREW comprise more than 8,000 commercial real estate professionals in 71 major markets across North America.

CREW Network members, made up of industry leaders and senior-level executives representing all disciplines, offer a unique combination of talents and expertise that enable this influential group to handle every aspect of a commercial real estate deal from start to finish.

CREW Network helps its members excel in the commercial real estate industry by providing networking, business development, leadership opportunities, and professional education.

ABA Meeting Kogi Truck has since coming to Seasons Place every Thursday.

Visiting hours: 10:30PM to 12AM

-Asian Business Association 7/14/2010

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STC Annual Trip

-Monterey Bay 7/16/10 to 7/18/10

2010events ETTV Top Idol Contest

-STC Center, Seasons Place 7/24/10

WuShu Demonstration

-STC Center at Seasons Place -7/24/10

STC Picnic

CCIM Greater LA Chapter

got recognized as the Chapter of the year

-8/30/10

-Schabarum Park 8/28/10

AIR Visits www.

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(American Industrial Real Estate) -STC Office 9/1/10

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2010events WSGVBR International Day

-San Gabriel 9/17/10 STC Management, working with the Buckboard Day parade committee host the Press Conference in order to help to spread the news amongst the Asian communities

Buckboard Parade -Rowland Heights 9/18/10

STC Management Float consist of two Dragons, bike team and a convertible

RHCA (Rowland Heights Chinese Association) 20th Anniversary Dinner

STC Management Booth the most popular booth of the day :)

-Rowland Heights 9/19/10

STC Management won the best float of the parade from the business sector

The 2010 World Chinese Golf Club Cup Seminar -Pacific Palm 10/4/10

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2010 MinNan Singing Contest

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- STC Center, Seasons Place 10/23/10

STC Management award the AMO of the year

- STC Recreation Center 10/28/10

2010 F5 Seminar

-STC Center, Seasons Place 11/21/10

2010 Halloween Costume Party

- STC Center, Seasons Place 10/30/10

STC Management collaborating with Rowland Council PTA hosted 2010 Halloween Party. We had a blast and raised some money for the school

2011 CCIM Greater LA Chapter Installation Dinner www.

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Sister Chapter Formal Ceremony with Western Canada Chapter and The Taiwan Chapter - California Club 11/9/10

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Designations

What is an AMO?

國際認證資產管理機構 在房地產業的發展中，國際資產管理協會IREM®認知到業主在選擇信譽良好房地產管理的重要。出 於這個原因，該協會在1946決定核定嚴格的合格標準，認可優良的管理公司，並頒發正統的認證 標制（國際認證資產管理機構AMO®）來分歧一般與優良及信譽良好的房地產管理公司。一個被 認可的房地產管理公司不只必須符合在一開始檢驗的能力和標準，國際資產管理協會IREM®還會持 續觀查，檢驗，並要求被認可的房地產管理公司繼續堅持或超越該標準，以確認認可標制的確實 性。國際資產管理協會IREM®只頒發給公司企業此認證。 Awarded by the Institute of Real Estate Management (IREM), the Accredited Management Organization (AMO) distinction comprises an elite group of real estate management firms exhibiting the highest level of ethical standard, performance, experience, and long-term financial stability. As the only form of formal recognition attainable by real estate management firms, AMO accreditation sets a firm apart from its competition and presents greater opportunities on the road to financial and professional success. Such accreditation is vital in promoting the long term success and recognition of any real estate management organization.

AMO accreditation requires that a firm have a CPM in an executive position, therefore allowing clients and investors to place their trust in a demonstrated leader. Other criteria include a minimum of three years’ experience in real estate management, six comprehensive letters of recommendation, strong overall financial health, and a pledge to abide by the Minimum Standards and Code of Ethics of the Accredited Management. A truly prestigious distinction, AMO accreditation is held by only 525 real estate management firms worldwide who together manage over $123 billion in assets, over 1 million residential units, and nearly 550 million square feet of commercial space. Nearly half of AMO firms have been in business for over 20 years, and more than 80% have been established for at least a decade.

國際資產管理協會 www.irem.org

AMO firms constitute a network of high-level business professionals who benefit from the exchange of invaluable information through powerful resources and work together to promote education and ethical behavior in business. AMO membership allows a firm to provide its staff with professional development opportunities – all AMO firm employees can purchase publications and attend IREM courses, conferences, seminars, and webinars at a premier member rate. Furthermore, firms attract business through their inclusion in the AMO Directory for Investors, which is distributed to over 4,000 investors nationwide, as well as through the association’s extensive marketing program and advertising tools. Together, these resources help strengthen an elite group of firms unified through dedication, experience, integrity, and professionalism.

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STC MANAGEMENT Became an AMO Company in 2009 STC MANAGEMENT 於2009年正式成為AMO(國際認證資產管理機構) 是全美第一家華人企業榮獲此肯定

STC MANAGEMENT was recognized as the AMO Company of the Year in 2010 STC MANAGEMENT 於2010年被選為 AMO 年度最佳公司

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Designations

What is a CCIM?

國際註冊商業房地產投資師 國際註冊商業房地產投資師的簡稱。它是由總部位於芝加哥的國際註冊商業房地產投資師協會面 向全球房地產界從業人員﹐通過一系列的課程教育﹑嚴格的考試和審核後﹐所頒發的專業資格。 其課程體系﹐艱難深邃。相當於博士水準的知識﹐能使學員接受最佳房地產知識的專業訓練。對 從業經驗的要求﹐保證了在掌握理論的同時﹐也掌握了實際操作經驗。 CCIM專業資格是國際房地產界的權威資格認證。 CCIM候選人要獲得此項資格﹐除了必須通過六門 專業及冗長的考試外﹐還必須在商業地產業﹑銀行抵押業﹑投資業等相關領域有五年工作經驗﹐ 並填寫和出示相關的文件﹐以證明最近五年內所從事的主要工作﹐獲得的主要業績達到了CCIM協會 所要求的能力和素質的最低要求。經CCIM協會資格評審委員會評審並確定學員的CCIM資格後﹐再通 過遠赴外州的一項綜合考試才能獲得CCIM徽章和資格認證證書﹐並獲有一項國際認可的國際註冊商 業房地產投資師資格。各成員受協會道德條例的約束﹐這一條例制定了專業事務標準並確保資格 擁有的誠信。 此項專業資格在美國及世界上一些主要國家和地區﹐尤其是在市場經濟成熟發達的國家和地區被 廣泛認可﹐並享有崇高的地位﹐代表著商業房地產領域的最高專業榮譽與權威性。因此CCIM專業資 格也是國際房地產界的通行證。 目前僅有CCIM協會向全球提供商業房地產專業課程教育和資格認證﹐全球只有七千多房地產業專業 人士有此殊榮。從一九六九年迄今﹐CCIM領導著全球的商業房地產投資市場﹐其網絡涵蓋了全球 一千多個市場﹐反映了商業地產業的最新變化。它包括專業投資師﹑投資顧問﹑資產管理公司﹑ 評估師﹑會計師﹑物業管理公司﹑ 發展商﹑機構投資者﹑房地產律師﹑銀行家和其它相關專業人 士。借助這一商業網絡及CCIM電子商業網絡﹐CCIM每年完成六萬筆左右的交易﹐總價值超過五百四 十億美元。另外﹐通過CCIM協會及其他國際上的專業房地產組織﹐委託人的物業可以在全世界的五 十二個國家裡賣給投資者。 A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate. A CCIM is an invaluable resource to the commercial real estate owner, investor, and user, and is among an elite corps of 7,500 professionals across North America who hold the CCIM designation.

Recognized for its preeminence within the industry, the CCIM curriculum represents the core knowledge expected of commercial investment practitioners, regardless of the diversity of specializations within the industry. The CCIM curriculum consists of four core courses that incorporate the essential CCIM skill sets: financial analysis, market analysis, user decision analysis, and investment analysis for commercial investment real estate. Additional curriculum requirements may be completed through CCIM elective courses, transfer credit for graduate education or professional recognition, and qualifying non- CCIM

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education. Following the course work, candidates must submit a resume of closed transactions and/or consultations showing a depth of experience in the commercial investment field. After fulfilling these requirements, candidates must successfully complete a comprehensive examination to earn the CCIM designation. This designation process ensures that CCIMs are proficient not only in theory, but also in practice.

With such a wide range of subjects to be mastered and in a dynamic business such as real estate, the educational process doesn’t end once the designation is earned; there is a strong commitment among CCIMs to continuing education.

Only 6 percent of the estimated 125,000 commercial real estate practitioners nationwide hold the CCIM designation, which reflects not only the caliber of the program, but also why it is one of the most coveted and respected designations in the industry. The CCIM membership network mirrors the increasingly changing nature of the industry and includes brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property managers, developers, institutional investors, commercial lenders, attorneys, bankers and other allied professionals. Through this business network and through enhanced communication with the CCIM electronic network, CCIMs successfully complete approximately 156,000 transactions annually, representing more than $400 billion.

Certified Commercial Investment Members are in more marketplaces in North America -- 12 CCIM regions representing 1,000 cities -- than all major real estate companies combined. Regions and chapters provide designees and candidates the opportunities to promote business and educational goals through local and regional forums and meetings. Conferred by the CCIM Institute, the CCIM designation was established in 1969. Courses leading to the designation are now offered throughout the world.

The Making of a CCIM The CCIM designation is conferred by the CCIM Institute, an affiliate of the National Association of Realtors. The designation process ensures that CCIMs are proficient not only in theory, but also in practice. Every professional working toward the designation must successfully complete a graduate-level curriculum totaling 200 classroom hours. Taught by experienced CCIMs, courses are continually refined to keep current with the fluctuating nature of the industry. Candidates also are required to document professional transactions and pass a day-long comprehensive examination. Certified Commercial Investment Members demonstrate an exceptional level of knowledge and experience. In fact, only 6 percent of all commercial real estate practitioners hold the elite CCIM designation, reflecting not only the caliber of the program, but why it is the most coveted and respected designation in commercial investment real estate.

Global Website: www.ccim.org Los Angeles Chapter: www.ccimla.com www.

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Designations Invest In Your Success

You need analytical skills and expertise to maximize value for your clients and set yourself apart from your competition. A CCIM education provides you with the tools and resources you need to succeed in the market today and in the future. Each course focuses on real-world issues and emphasizes practical information you can apply immediately, and continually, to boost your earnings and your confidence.

2011 CLASS SCHEDULE CCIM GREATER LOS ANGELES CHAPTER

Introduction to Commercial Investment Real Estate Analysis (CI INT)

商業地產基礎入門學 Enhance your knowledge! This introductory course provides an overview of every aspect of commercial real estate - from property inspection through follow-through after the property is sold. You will be introduced to the many ways to profit in the multi-faceted, dynamic field of commercial investment real estate. Learn with and from your peers and expand your contacts among commercial property practitioners. Every phase of commercial real estate analysis is represented through a real-world application to a real property.

Course Date: September 15-16, 2011 Location: Woodland Hills, CA Financial Analysis for Commercial Investment Real Estate (CI 101)

商業地產營運財務分析 Learn to make sound commercial investment real estate decisions through the financial analysis concepts and skills taught in this flagship CCIM course. During class, you’ll work with your instructor and fellow students to apply the concepts discussed to your dayto-day activities. Your increased knowledge and professional approach to your commercial real estate practice will ensure increased earnings.

Course Date: February 11, 12, 14-16, 2011 Location: Studio City, CA

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Designations Market Analysis for Commercial Investment Real Estate (CI 102)

商業地產調查分析評估 Differentiate your abilities from those of your competitors by learning how to incorporate cutting-edge market analysis tools into your repertoire. Present your clients with new ideas and different options and help them recognize and maximize opportunities.

Instructors share real-world experiences, which helps crystallize concepts and allows you to understand the applications for the tools and theories identified.

Course Date: March 18, 19, 21-23, 2011 Location: Playa Vista, CA User Decision Analysis for Commercial Investment Real Estate (CI 103)

商業地產投資決策分析 Immerse yourself in the world of leases, the engine that drives the value of commercial investment real estate. Become an expert at leasing terminology and techniques, and gain the skills and knowledge that will help you understand user needs. You’ll guide your clients through key occupancy decisions and deliver results beyond their expectations.

Course Date: June 17, 18, 20-22, 2011 Location: Pacific Palisades, CA Investment Analysis for Commercial investment Real estate (CI 104)

商業地產投資計算學 Develop the skills and experience that will allow you to become a trusted resource for investors. This course provides you with the knowledge needed to make sound decisions regarding the acquisition, ownership, and disposition of commercial investment property. You’ll learn to use hands-on tools that can minimize risk and maximize return for investors.

Course Date: August 5, 6, 8-10, 2011 Location: Industry, CA

For More Information Please Visit www.CCIMLA.com

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Designations (Certified Property Manager)

Code of Professional Ethics for a CPM I

職業道德守則

ntroduction: The purpose of this Code of Professional Ethics is to establish and maintain public confidence in the honesty, integrity, professionalism, and ability of the professional real estate manager. The Institute of Real Estate Management and its Members intend that this Code and performance pursuant to its provisions will be beneficial to the general public and will contribute to the continued development of a mutually beneficial among CERTIFIED PROPERTY MANAGER® Members, CPM® Candidates, ACCREDITED RESIDENTIAL MANAGER’. Members, ACCREDITED COMMERCIAL MANAGER Members, Associate Members, and other Members, national and international professional real estate associations and organizations, and clients, employers, and the public.

The Institute of Real Estate Management, as the professional society of real estate management, seeks to work closely with all other segments of the real estate industry to protect and enhance the interests of the public. To this end, Members of the Institute have adopted and, as a condition of membership, subscribe to this Code of Professional Ethics.

IREM® Member Pledge - I pledge myself to the advancement of professional real estate management through the mutual efforts of Members of the Institute of Real Estate Management and by any other proper means available to me.

I pledge myself to maintain the highest moral and ethical standards consistent with the objectives and higher purpose of the Institute.

I pledge myself to seek and maintain an equitable, honorable, and cooperative association with fellow Members of the Institute and with all others who may become a part of my business and professional life. I recognize and support the need to preserve and encourage fair and equitable practices and competition among all who are engaged in the profession of real estate management.

I pledge myself to place honesty, integrity, and industriousness above all else and to pursue my gainful efforts with diligent study and ongoing education so that my services shall be beneficial to the general public and my obligations to my clients shall always be maintained at the highest possible level.

I pledge myself to comply with the principles and declarations of the Institute of Real Estate Management as set forth in its Bylaws, Statement of Policies, and this Code of Professional Ethics.

Article 1. Loyalty to Client, Firm, and / or Employer - A CERTIFIED PROPERTY MANAGER·’, CPM’” Candidate, ACCREDITED RESIDENTIAL MANAGER”’ , ACCREDITED COMMERCIAL MANAGER, or Associate Member (hereinafter referred to as MEMBER) shall at all times exercise loyalty to the interests of the client and the employer or firm with whom the MEMBER is affiliated. A MEMBER shall be diligent in the maintenance and protection of the interests and property of the employer and of the client. A MEMBER shall not engage in any activity that could be reasonably construed as contrary to the interests of the client or employer. If an activity would result in a conflict between the interests of the firm or employer and the interests of the client, then the interests of the client shall take precedence.

Article 2. Confidentiality-A MEMBER shall not disclose to a third party any confidential or proprietary information which would be injurious or damaging to a client concerning the client’s business or personal affairs without the client’s prior written consent, unless such disclosure is required or compelled by applicable laws and regulations.

Article 3. Accounting and Reporting - Pursuant to the terms of the management agreement, a MEMBER shall use reasonable efforts to provide accurate, auditable financial and business records and documentation concerning each asset managed for the client, which records shall be available for inspection at all reasonable times by the client. A MEMBER shall furnish to the client, at mutually agreed upon intervals, regular reports concerning the client’s assets under management. A MEMBER shall not exaggerate, misrepresent, or conceal material facts concerning the client’s assets or any related transaction.

Article 4. Protection of Funds - A MEMBER shall at all times serve as a fiduciary for the client and shall not commingle personal or company funds with the funds of a client or use one client’s funds for the benefit of another client, but shall keep the client’s funds in a fiduciary account in an insured financial institution or as otherwise directed in writing by the client. A MEMBER shall at all times exert due diligence for the maintenance and protection of the client’s funds against all reasonably foreseeable contingencies and losses.

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Article 5. Relations with Other’ Members of the Profession -A MEMBER shall not make, authorize or otherwise encourage any false or misleading comments concerning the practices of Members of the Institute of Real Estate Management. A MEMBER shall truthfully represent material facts in their professional activities. A MEMBER shall not exaggerate or misrepresent the services offered as compared with the services offered by other real estate managers. Nothing in this Code, however, shall restrict legal and reasonable business competition by and among real estate managers.

Article 6. Contracts - Any written contract between a MEMBER and a client shall be in clear and understandable terms, and shall set forth the specific terms agreed upon between the parties, including a general description of the services to be provided by and the responsibilities of the MEMBER. Article 7. Conflict of Interest -A MEMBER shall not represent personal or business interests divergent from or conflicting with those of the client or employer and shall not accept, directly or indirectly, any rebate, fee, commission, discount, or other benefit, monetary or otherwise, which could reasonably be seen as a conflict with the interests of the client, employer or firm, unless the client or employer is first notified in writing of the activity or potential conflict of interest, and consents in writing to such representation.

Article 8. Managing the Assets of the Client - A MEMBER shall exercise due diligence in the maintenance and management of the client’s assets and shall make all reasonable efforts to protect it against all reasonably foreseeable contingencies and losses.

Article 9. Duty to Former Clients and Former Firms or Employers - All obligations and duties of a MEMBER to clients, firms, and employers as specified in this Code shall also apply to relationships with former clients and former firms and employers. A MEMBER shall act in a professional manner when, for whatever reason, relationships are terminated between a MEMBER and a client and firm or employer. Nothing in this section, however, shall be construed to cause a MEMBER to breach obligations and duties to current clients and firm or employer.

Article 10. Compliance with Laws and Regulations -A MEMBER shall at all times conduct business and personal activities with knowledge of and in compliance with all applicable laws and regulations.

Article 11. Equal Opportunity - A MEMBER shall not deny equal employment opportunity or equal professional services to any person for reasons of race, color, religion, sex, familial status, national origin, age, sexual orientation, or handicap and shall comply with all applicable laws and regulations regarding equal opportunity.

Article 12. Duty to Tenants and Others - A MEMBER shall competently manage the property of the client with due regard for the rights, responsibilities, and benefits of the tenants or residents and others lawfully on the property. A MEMBER shall not engage in any conduct that is in conscious disregard for the safety and health of those persons lawfully on the premises of the client’s property.

Article 13. Duty to Report Violations - Each MEMBER has a responsibility to provide the Institute of Real Estate Management with any significant factual information that reasonably suggests that another MEMBER may have violated this Code of Professional Ethics. Such information must be presented as outlined in the Institute of Real Estate Management’s Bylaws and Statement of Policies.

Article 14. Enforcement - The interpretation of compliance with this Code is the responsibility of the Ethics and Discipline Committee of the Institute of Real Estate Management.

Any violation by a MEMBER of the obligations of this Code and any disciplinary action for violation of any portion of this Code shall be determined and carried out in accordance with and pursuant to the terms of the Bylaws and Statement of Policies of the Institute of Real Estate Management. The result of such disciplinary :action shall be final and binding upon the affected MEMBER and without recourse to the Institute, its officers, Governing Councilors, Members, employees, or agents.

國際資產管理協會

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www.irem.org

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What should owners know about Property Management? 房東物業管理須知

By Benjamin Chen The responsibilities involved in property management include leasing, accounting and managing finances, acting on behalf of the

owner when dealing with contractors or insurance agencies, and serving as a liaison between the owner and the tenant. Moreover, a property manager will have to take on tasks such as maintaining the property, assessing potential tenants, assist tenant to obtain usage or TI improvement permit and collecting rent. There are instances when problems with regards to lawsuits are also passed on to property managers. This is the reason why property managers have lawyers as they normally deal with legal problems such as evictions and non-payments. Because managing property involved many aspect of the special fields, such as construction, leasing, accounting, legal, marketing, connection with local government agency and networking with local or national Professional organizations. It is hard for an owner to do everything himself, which is why most of financial institution owner hire a Professional Property Management, because they have a team of specialists.

Property management is therefore the type of job that requires time, intelligence, attention to details, good communication and public relation skills. Real estate owners who lack any of these typically turn to property management companies to ensure that they maximize the use of their properties, especially the profit that can be derived from them. A property management company can maintain and raise the level of occupancy, which translates to a steady flow of income or increase of your property value. This is because the company keeps your property in tip-top shape in order to bring in business consistently.

When you made a huge investment within the Real Estate property market, then you should ascertain that you get the most from it. As a real estate owner, bear in mind that property management is an important aspect of the real estate market as it enables you to boost the appeal and value of your property. A property management company will allow you to get on with your renting business while they handle its day-to-day operation or some company can do everything for you. The range of service provided by most property management companies is as flexible as you want it to be, so you can free yourself and channel your time and energy to other productive ventures.

Just make sure that the property management company you hire is reliable and can take on your specific requirements.

Conduct a thorough research before entrusting anyone with your property, otherwise you may lose much of your investment and you may even end up getting your property in trouble. Be sure to verify the license and credentials of the company that you intend to hire. Every state in USA has different licensing requirements. To be able to operate as a property management service provider, the company has to be licensed with a principal or licensee in charge. In addition, each staff member of the company must have a certificate of registration with Department of Real Estate.

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By Harry Tan

管理是把雙刃劍 18

什麼是管理學？學術界有很多的理論以及術語幫助人類加以了解管理學。不過對我而言，管理學說穿了其實就是一套助人達成目標的工 具。 很多人以自己的目標是否已達成來衡量成功。不管目標是宏大仰或是渺小， 努力與付出毫無疑問是一個不能被忽略的因素，而管理呢， 就是付出的一種。管理這一套工具組基本上分有四個部分：策劃，組織，領導，控制。

策劃 要達致已設定的目標，策劃是必需的。不事先制定好計劃的人往往都像無頭蒼蠅，很多時候都走了很多無謂的冤枉路，甚至到最後與原 本設定好的目標背道而馳。當設定好了一個計劃，謹慎的跟從可以更容易的讓自己了解通往成功的道路中已經完成了什麼，還有什麼是 還沒有做的。

組織 一個人的力量很微小，很多時候必須要凝聚大家的力量來完成一個目標。只要組織得當，人的力量覺得可以推高到一個不可思議的境 界。中國的萬里長城，埃及的金字塔都是經由帝王以及法老的組織而盎然聳立於地表數千年。

領導 顧名思義，領導就是引領眾人，指導大家。要成為一個優秀的領導，必須要對目標非常了解，而且對策劃有著非常精闢的認知，這樣才 可以讓別的同伴了解以及認同你有帶領團隊完成任務的能力。

控制 控制在這裡指的是評估自己的進度是否和原本設定的計劃是否有出入，進而帶領團隊回到正軌。除此之外還要定時評估原先設定的計劃 是否因為一些客觀或是主觀的因素而變得不現實。如果有必要的話就務必對目標/策劃進行調整。 管理是助人的工具，也是一把雙刃劍。賓拉登對紐約世貿進行恐怖襲擊的時候也做了非常緊密而完善的管理動作。在使用工具的時候必 須要確保自己的心態正確，而達至的目標也會對社會甚至眾生帶來正面的影響。這才是一個使用管理工具的正確方式。

By Tom Tseng

武術理念和我所理解的資產管理

在武術中,“守,破,離” 這三個字代表了學習的三個階段. “守”是全心全意吸收老師所教的.“破”是活用所學, 不斷向新的嘗試挑戰. 最 後是”離”, 獨立自主, 創立出自己的流派. 在資產管理公司中, 我個人的程度只在守和破而已. 但是我們這個年輕的公司勇於創新, 並不守 著一成不變的公式, 以適應現在多變的經濟環境, 畢竟解決問題的方法有很多種, 為客戶找出最有利的解決問題之道就是我們資產管理公 司的本質. STC資產管理公司和其他管理公司不同之處就在於我們雖然不墨守成規, 卻絕對不是雜亂無章的做事. 完全是由活用所學(破) 的 經驗之後, 才創立出自己獨樹一幟的公司文化. 我在這個公司還有很多要學, 請大家多多指教.

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Accounting Division at STC | STC會計部門

By Chloe Hsiao

19

The accounting division currently consists of a group of 5 young professionals, including

Ying ying, Amy Fan, Beatrice, JC, and Chloe. We take pride in understanding commercial property owners’ goals and objectives and the concerns that HOA boards and members may have. Our division goal is maximizing both the current return and long-term value of each client’s property. We draw directly from the operating general ledger transactions and create instant comparisons and analyses in a daily basis to maintain each property in a firstclass manner while keeping expenses consistent with comparable properties. And much of our work is facilitated through Yardi Voyager. Yardi Voyager is an industry-leading and fully integrated software capable of providing full-business property management and accounting solution. With Yardi Voyager, the accounting division is able to record track expenditures easily and produce reports that meet the criteria applicable to each property and other divisions at STC Management.

Yardi Voyager allows us to work very efficiently with all the information integrated and centralized in its web-based database. For tasks like CAM reconciliation, it usually takes weeks to complete for it’s a complicated process with many variables, such as expense caps, base year and so on. With the help of Yardi Voyager, our CAM reconciliations are calculated automatically and are completed just in a matter of few days for each property. Yardi Voyager eliminates the daunting job of reconciling all variables and compiling an accurate accounting of what tenants owe, and that does not only reduce tenant billing disputes but also increase cash flow in a timely manner.

Having owners’ best interest in mind, the accounting division plays an important role to support management division. Whenever property managers need to quickly access information and respond to owner requests, the accounting division is able to drill down to source transactions quickly and provide most complete and detail data. We are also able to produce up-to-date CAM report for leasing division when a prospect asks about CAM expenses. And in turn, the leasing division can move fast to capture new tenants. And here are just few examples that Yardi Voyager provides values to accounting division as STC management grows and changes.

Yardi Voyager is truly a system that improves our operational efficiencies. It is the reason that we can minimize the time spends on back-end processes and streamline report, and have more time and resources to serve the need of property owners, HOA boards and members, property mangers and other associates without cutting into our margins.

人生三點 你不能決定生命的長度，但你可以改變生命的寬度

成長的過程是苦的，但是當你越堅持這種內在轉化的過程，你越發現喜悅、平

你不能左右今天的天氣，但你可以改變自己的心情

靜和智慧穿透到你的內在，你就能離苦得樂。

你不能改變自己的容貌，但你可以展現笑容 你不能控制別人，但你可以掌握自己 你不能預知明天，但你可以利用今天 你不能樣樣順利，但你可以事事盡力

放開一點、簡單一點、單純一點；集滿三點，就會開心一點！ 人生三點~集滿三點~~就會開心一點

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快樂每一天∼驚語錄 20 老夫婦去拍照，攝影師問︰「大爺，您是要側光，逆光，還是全光？」 大爺靦腆地說︰「我是無所謂，能不能給你大媽留條內褲？」 .............................................................................................................................................................. 老婆語錄︰允許你喝醉，允許你勾妹，但晚上必須給老娘歸隊， 如果你敢傷我的心，傷我的肺，老娘一定把你的第三條腿打殘廢，讓你的小鳥永遠打嗑睡。 ............................................................................................................................................................... 倆老夫妻某日吃晚飯時突發奇想︰「裸餐！找找從前的感覺！」 脫光後老太婆道︰「我還有回應耶！乳房還和年輕時一樣發熱！」 老頭斜了一眼道︰「垂到湯裡頭了！」 .................................................................................................................................................................... 四隻老鼠吹牛︰ 甲︰「我每天都拿鼠藥當糖吃」； 乙︰「我一天不踩老鼠夾腳發癢」； 丙︰「我每天不過幾次大街不踏實」； 丁︰「時間不早了，回家抱貓去囉！」 .................................................................................................................................................................. 天是藍的，海是深的，男人的話沒一句是真的； 愛是永恆的，血是鮮紅的，男人不打是不行的； 男人如果是有錢的，和誰都是有緣的，男人靠得住，豬都會爬樹。 .............................................................................................................................................................. 當你在路上遇到狗的時候不要驚慌，要勇敢地與它博鬥，頂多會有三種結果︰ 一是你贏了，你比禽獸還禽獸； 二是你輸了，你連禽獸都不如； 三是你們打平了，你就是禽獸。 ............................................................................................................................................................. 實習醫生問老醫生：「為什麼你要夾一支溫度計在耳朵上？」 老醫生：「完了！我一定把鋼筆插在病患的肛門裡了！」

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Commercial Real Estate Investment & Financing FAQ

By Dalerie Wu

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Short List of the Most Frequently Asked Questions about Investing in Commercial Real Estate in 2010 • Is now the right time to buy?

It is impossible to time the bottom of the market. The commercial real estate (CRE) market began its decline in 2008 and appeared to reach a trough in 2009, where we have been bouncing along since. Investors have gotten great deals throughout this downturn and will continue to do so through next year. The key is to be prepared with both knowledge and capital, so that when the right deal comes along, you can recognize it and seize the opportunity.

• What type of property should I invest in?

The four major types of commercial property are retail, office, industrial and multifamily. Each has its own characteristics that will appeal to different investors. Generally speaking, multifamily properties tend to have lower risk and lower return, but the owner has less control over value appreciation. Retail gives the most flexibility in creating value through tenant mix and management, but also carries more risk.

Multifamily properties are recovering the most quickly, as supply is limited and demand is expected to increase. Both the office and industrial sectors have seen improvements in vacancy and absorption rates. Retail will likely be the slowest to recover, as store openings follow consumer spending, which follows jobs.

That said, each investor should evaluate his/her own investment goals to determine the most appropriate property acquisitions.

There are great deals to be found in all types of property. The key to being successful in CRE investment is to be objective.

Financials, not appearance, is the most important factor to consider.

What are distressed properties? Are they all in very bad conditions?

Distressed properties are generally those whose owners are delinquent in loan payments. These properties are not necessarily in a bad condition; sometimes other assets that the owner owns create a financial burden on the subject property. Of course, a majority of distressed assets do have a high vacancy rate and deferred maintenance. However, with the right management and leasing team, as well as financial holding power on the part of the buyer, the risk of investing in distressed properties can be reduced significantly and the return can be enormous.

• How do I find distressed inventory?

The three major sources of distressed inventory are: brokers, lenders and the government. Private investors usually obtain inventory from brokers, as it is difficult for individual investors to directly access lenders or the government. STC Management has developed relationships with many banks from whom we directly obtain distressed inventory. We evaluate prospective properties from both a current and a future standpoint, and recommend properties with potential to our clients.

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商業房地產投資與融資的常見問題 22

• Should I invest in non-performing loans (a.k.a. NPL, non-performing note, etc.)?

Purchasing non-performing loans have become more prevalent in this market downturn. There are several ways to generate return from a loan investment, and the option of choice will vary by deal:

• Purchase the NPL at a steep discount to the face loan balance and restructure loan repayment with borrower to achieve win-win situation.

• Foreclose the property to obtain ownership of the property.

• Structure a Deed-in-Lieu of Foreclosure to obtain ownership of the property.

• Structure an equity participation or profit-sharing agreement with lender and/or borrower.

Though NPLs can usually be purchased at a steeper discount than other types of real estate assets, they generally involve more risk and complexity, so it is critical to have an experienced broker and attorney to evaluate and reduce the risk, and to guide investors through the negotiation and/or foreclosure process.

Financing is another issue of concern when purchasing NPLs, as purchases generally need to be all-cash. Lenders for NPLs do exist, but they are extremely selective and often demand a high interest rate as well as part of the equity.

• What is the lending environment like in 2010?

The lending environment in 2010 has been more favorable than 2009. Interest rates remain at a historic low, and capital is more available. CMBS is gradually coming back. The government has facilitated very favorable terms for qualified multifamily loans through HUD (Housing and Urban Development) and owner-user loans through SBA (Small Business Administration).

Investment-grade properties can benefit greatly from current loan programs. However, distressed properties still have a difficult time obtaining loans.

快，笑一笑 ！！ 笑一笑 1

笑一笑 2

一位小姐打電話叫計程車.

老鼠A拿著一張照片，告訴老鼠B說：

小姐 ： 「你好，我在中山路口，我要搭計程車。」 「這是我新交的女朋友。」

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司機：「那妳穿什麼衣服呢？」

老鼠B仔細端詳照片， 然後說：

小姐：「我穿藍色上衣，白色裙子。」

「那是一隻蝙蝠啊！」

司機：「到那裡？」

老鼠A說：

小姐：「到膝蓋。」

「你到底懂不懂啊，她是空姐ㄟ...」

a n a g e m e n t . B L O G S P O T. c o m

Leasing Market | 租賃市場

By Justin Tsai

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• Leasing market recovery will depend heavily on the recovery of labor market and consumer confidence • Retailers and businesses remain extremely cautious, easing on expansion plans, inventory levels, even sales figure reporting • Financing continues to remain tight, impeding already sparse leasing demand • Repositioning of retail spaces is key in the property’s sustainability for upcoming years • Creativity, aligned goals, shared visions, and mutual understanding among owners, agents, and tenants are vital in increase occupancy during this very challenging landscape

My leasing experience of year 2010

By Kathy Tung

My leasing experience of year 2010 is phenomenal. As the leasing progressing started the beginning of this year till today, I have total 13 tenants/business had signed the lease agreement , and the new business come to fulfilled vacant commercial retail space or industry warehouse management by STC Management. From the point view of leasing division, we try to get any chance to help the landlords and tenants of the property. As part of STC Management, our team work is the solution and tool for me to practicing in the leasing activities. I am proud of I’m just one of STC associates.

Just make sure that the property management company you hire is reliable and can take on your specific requirements. Conduct a thorough research before entrusting anyone with your property, otherwise you may lose much of your investment and you may even end up getting your property in trouble. Be sure to verify the license and credentials of the company that you intend to hire. Every state in USA has different licensing requirements. To be able to operate as a property management service provider, the company has to be licensed with a principal or licensee in charge. In addition, each staff member of the company must have a certificate of registration with Department of Real Estate.

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By John Lin

Safe While you Shop! | 消費安全，安全消費 24

I

n today’s distressed economy, the need for properly trained security company is evident. Security guards can often prevent crimes from happening before they happen as well as mitigate the situations to minimize damages. However there are certain resources that can be used to maximize the effectiveness and security that they can provide for a property. The following four resources can be used to provide added protection to your property: 在現下的經濟大環境，商場需要專業的保全是顯而易見的。專業的保安人員可以減少及預防犯罪的發生，增加消費者的安全。不 過我們也可以加強現有的資源，來提 高最大效率和安全。以下是其中四個例子：

• Lighting: Properly lighting provides both a more inviting atmosphere for customers as well as added security for the property.

照明：足夠的照明可以提供了一個好的氛維，凝聚人氣，以提高安全性。

• Vendor: Vendors can play dual roles for both their contracted jobs as well as providing extra pair of eyes on the property.

供應商：供應商可以注意環境的安全，為他們承包的工作發揮雙重功用。

• Surveillance Cameras: Surveillance cameras provide a constant pair of eyes on your property and when needed can provide

the police with the evidence they need to catch the perpetrators. 監控攝像機：足夠的監 控攝像機在商場可以減少犯罪的意圖，必要時可提供警方抓住肇事者的證據。

• Tenants: Not only is a good relationship with the tenants a must for the health of a commercial shopping center, but it is also

greatly beneficial in that they can provide an extra eyes on the center. 商家/房客：與商家/房客維持一個良好的互動關係非常重要的; 良好的商家/房客互動關係是一個安全的商業購物中心必要因 素，因為他們可以達到一個守望相助的作用。

Individually, these resources can all greatly improve upon the security at your commercial center; however, it takes a knowledgeable and experienced management company to utilize all said resources to maximize the security and protect the people and your assets 個別而言，這些資源都對提高商業中心安全性有一些幫助。但真正發揮效用的是一個正確的管理。一個知識與經驗豐富的管理團 隊將利用所有的資源，最有效地保護大家 的安全與財產。

執著的人生會讓自己承擔莫需有的重擔 所 以 學 習 放 下 執 著 也 就 在 學 習 人 生 自 在 www.

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Overcoming Fear | 克服恐懼

By Gene Wang

25

The first time I ever took my motorcycle to the race track, the

decision was largely against my will and, admittedly, a result of relentless peer pressure from my group of riding buddies.

Of course, I had some prior experiences in navigating the twisty canyons around LA on a regular basis. However, I only had a year of experience riding the streets, as well as staying within the limits of the law (most of the time). The idea of trying something completely new, unknown, and which I had no confidence in doing, gripped me with fear and excitement at the same time. Doing over 175 miles per hour in a straight line and taking turns at over 120 sounded slightly dangerous, not to mention having the bike leaned over more than 50 degrees, and with my knee dragging on the ground (naturally).

This was something I had never fathomed doing. That type of racing was reserved for the professionals on TV, right?

But I also heard somewhere that the greatest reward comes when you’re willing to take the most risk. So oh well, might as well try. … Or maybe not. In all honesty, I was terrified of leaving my comfort zone. But sometimes we need a little nudge from others.

From those who can see what you can’t. Sometimes, only they can believe in you and see what you’re capable of. They present an unbiased point of view, which isn’t dominated by the fear that you feel.

It took nearly a year of peer pressure before I finally signed up and decided to give it a try. On September 28, 2009, I experienced my first trackday at Auto Club Speedway in Fontana, with ARC, my riding organization. I participated in the novice school required by all first-timers in the morning, and by late afternoon I had shaved two seconds off every lap time until I plateaued at a best time of 1 minute and 49 seconds. This was quicker than the majority of the regulars in our team who had been on the track dozens of times,

Gene takes Turn #6 at Auto Club Speedway (Fontana) on October 31, 2009 using a technique known as “knee-dragging,” which helps the rider to gauge how far the motorcycle is leaned over and whether or not it is pushing the limits of traction.

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26 and quicker than even some local veterans. The thrill of the sport and feeling of accomplishment were amazing.

In fact, in the coming months, I had such a blast with the sport and developed so much momentum that I ended up crashing at over 100 m.p.h. due to overconfidence, but that’s another story.

We feel fear for a reason, it’s a self-protection mechanism – however, the very same mechanism sometimes works against us and prevents us from trying new things, from pushing ourselves out of the norm, and from experiencing things we fear simply because we’re unfamiliar and uncomfortable with them.

Some of our most memorable experiences will always be the times we were willing to push ourselves to the limit. As with many things in life, we don’t even know our limits until we push them. So go out there and challenge yourself.

Gene taking another fast-sweeping corner at Chuckwalla Valley Raceway on May 15, 2010

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輕 鬆 一 下 有一天小新問爸爸 :「爸，『生 氣』、『憤怒』、『抓狂』以及『哭笑不得』有什麼不 同 ?」 爸爸說 : 「我做個實驗給你看，就容易懂了。」 於是他開翻電話簿，隨便找一個姓林的電話號碼， 便撥了電話過去，電話接通爸爸按擴音鍵讓小新聽清楚 爸爸 : 「請問史特龍在嗎 ? 」 對方 : 「你打錯了 ! 」 爸爸 : 「少來了，史特龍在嗎 ? 」 對方 : 「跟你說你打錯了 ! 」說著就把電話掛了。 之後，爸爸立刻又打電話過去 爸爸 : 「請問史特龍在嗎 ? 」 對方 : 「誰啦 ! 你打錯了。」 爸爸 : 「請問史特龍在嗎 ? 」 對方 : 「媽的，神經病。」又把電話掛了。 爸爸馬上又撥了一通 爸爸 : 「請問史特龍在嗎 ? 」 對方:「你到底是誰 ? 少無聊了 ! 」 爸爸:「我是布魯斯威利，我要找史特龍」 對方:「白癡啊，我還阿諾史瓦辛格咧 ! 你去死好了 ! 」 說完，就把電話甩上。 爸爸告訴小新 : 「這就是『生氣』。接下來，讓你看看，什 麼叫『憤怒』 吧 ! 」 爸爸又撥一通電話過去 爸爸 : 「請問史特龍在嗎 ? 」 對方 : 「你欠扁是不是 ? 要找史特龍打去美國啦 ! 媽的，要 是再打來，給我試試看」 說完就更用力的甩上電話。 爸爸告訴小新 : 「這就『憤怒』 。接下來，讓你看看什麼 叫『抓狂』吧 ! 」 接著，爸爸又撥了一通電話，這次隔了一段時間才有人 接，電話一接通 對方 : 「他媽的 ! 去你老母」正當他破口大罵的同時 爸爸 : 「請問，是林公館嗎 ? 」 對方 : 「喔，真是很抱歉 ! 因為剛有人惡作劇，我不是故 意要罵你的」 爸爸 : 「沒關係，請問史特龍在嗎 ? 」 對方 : 「哇 ! 你娘卡好」這次沒等他罵完，爸爸就把電話 掛了。 這就是『抓狂』」爸爸告訴小新：「你懂了嗎 ? 」 「嗯 ! 」小新點點頭 : 「但 - 什麼是『哭笑不得』呢 ? 」 爸爸笑了笑，又打了同一個號碼，對方快速接起電話 對方 : 「喂 ! 你是他媽的存心要找麻煩嗎???.」 爸爸 : 「我是史特龍，請問剛剛有沒有電話找我 ..............」

Yellowstone National Park | 黃石國家公園

By Dalerie Wu

27

2010年9月29日清晨，在呼氣成霧的寒冷中，我們來到了聞名已久的 黃石公園。 山峰上剛剛迎來耀眼的金黃，岩漿煲熱的湖面上方浮著縹緲的白煙， 遠處偶爾傳來幾聲麋鹿的叫喚，寧靜的時刻裡蘊藏著我們的興奮。 黃石公園乃世界第一座國家公園，成立於1872年。園區坐落於 Wyoming 西北部，全球最大的活火山之上，地屬熔岩高原，海拔2000 多米，面積8000多平方公里。黃石河、黃石湖縱貫其中，以峽谷、瀑 布、溫泉、間歇噴泉、野生動物以及電影《2012》裡的毀滅鏡頭聞名 於世。

黃石最著名的景色是 Old Faithful“老忠實”間歇噴泉。 從100多年前被發現至今，它每隔33—93分鐘噴發一 次，每次噴發持續四五分鐘，水柱高40多米，從不間 斷。 第一天下午，從 Old Faithful 新建的遊客中心推門出去， 就見到密密麻麻圍繞噴泉的等候者。大大小小的相機與 它們主人繽紛的著裝為黃草、白沙及藍天平添了許多色 彩。 管理員預測 Old Faithful 會在 2:28PM 開始噴射。當分針 一步步邁向指定的一刻，大家的神經也越繃越緊。2:25PM一束小水柱的誘 人舞蹈像頭盤一樣開始吊大家的胃口。準2:28PM，小水柱突然爆發為擎天 一柱，直射雲霄，四周一片歡呼驚歎，氣氛高亢。 正當 Old Faithfu 逐漸平靜下來，不遠處又傳來連聲歡嘆，原 來 Castle Geyser“城堡噴泉”也開始噴發了。我們一路小跑至Castle，只見密集的 水珠在陽光的照耀下折射出一道美麗的彩虹。

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28 接著，上了癮的我們迫不及待地一路小跑到 Daisy噴泉等待它的下一輪噴發。 Daisy 不如 Old Faithful 那般有規律，雖然噴射的時間只有 幾分鐘，但管理員預測它可能噴發的時間段卻長達一小時。Daisy並不太有名，所以等待的人也不多，我們有幸能夠坐在長椅上等。但不 幸的是管理員這次預測比較失敗。在猛烈的日頭下，我們被曬得昏昏欲睡。等了二十分鐘，又二十分鐘，很想拍拍屁股走人，卻又覺不 捨。一個半小時後，姍姍來遲的 Daisy終於粉墨登場了！雖然它不如 Old Faithful 高，也不如 Castle大，但期待了那麼久的心情終於得到滿 足，使得 Daisy 脫穎而出。 回到 Old Faithful 附近，時近黃昏，斜陽的倒影在山丘與水池中飄舞，成群的野牛不知何時佔領了整座山丘，正在悠哉地啃草。幾隻年幼 的野牛也許對人類比較好奇，直接散步來到了棧道上。由於園區管理一再強調野牛屬攻擊性動物，遊客們都躲得遠遠的，不敢靠近。它 們和我們大眼瞪小眼，僵持在那裡。時間一分一分地過去，雙方都沒有移動的意向。終於，我和一位MM等不及了，一前一後大踏步目不 斜視地從野牛身邊走過。回頭看，其他人雖然躍躍欲試，卻始終沒有一個跟過來。最後，還是野牛打破了僵局，動作緩慢地走向遊客中 心，解脫了棧道上的人群，卻又在停車場裡造成轟動。 除了野牛，黃石公園還是很多其他動物的家園。秋季是麋鹿交配的 時節。黃昏時分，本來人煙稀少的道路上卻聚滿了人與車。趨近 打望，原來草原上一隻雄麋鹿正在追逐雌鹿。他時不時發出高亢的 叫聲，雙蹄高舉，試圖跳到雌鹿背上，但她卻有意躲避，並不讓他 得逞。旁邊扛著長槍大砲的攝影師們專注地凝視著鏡頭，不停地鉲 嚓，生怕錯過任何一個完美時刻。 黃石公園的地下水源以多種形式顯示於地面，除間歇噴泉外，還有 泥盆、噴氣孔、溫泉等等。噴泉最激動人心、泥盆與噴氣孔最稀奇 古怪、而溫泉最賞心悅目。幽藍碧綠一如鏡面的泉 水扣人心弦。

黃石的地貌在世界上獨一無二，在公園裡的三天兩夜，我們看到了太多的奇景異色，無法一一細數，不僅眼見許 多從未聽聞的趣景，同時也學到許多地理知識，至今回味無窮。

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My Journey to Asia 2010

By Irene Lai

29 Traveling is one of the exciting things in my life beside music, dancing, Tai Chi, and…

On the rainy day, October 7 at 1:40AM, I started my one whole month journey to China, Malaysia and Taiwan.

First stop – Kunming, Daili, and Lijiang of Yunam in China. The sceneries are breath taking especially the Jade Dragon Snow Mountain of Lijiang.

I am lucky to be able to see the whole mountain very clearly in a distance. The mountain normally is cover with thick cloud and only appears in full sight for about 28 days in a year. The Mountain Snow Impression show, Sifang Street, Jiuxiang Scenic Area and Stone-Forest Scenic are other highlight of the tour. What a memorable tour it is.

Jade

n Snow Drago

ng in, Lijia

Mounta

Shanghai World Expo – “people”, a lot of people waited in long, long lines for the popular pavilions. I got into the China pavilion that took me about 2 ½ hours on snail moving formation to enter the pavilion. The exhibits are very nice and worth the experiencing. Some of the pavilions are showing the most advance high tech of their countries. There is a saying – you will be regretted if you do not go to the expo but will be more regretted if you do go. Well, I still think it is a good experience regardless of what people think and say. I have been there and done that. I think if you relax and accept the fact that there will be mountain of people there then it would be alright.

o rld Exp ai Wo

Ah! Delicious food It melts in your mouth.

Kunming, China

hangh ity - S etter c b , fe li Better

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n e ocea from th , Malaysia d o fo Sea abah kan, S Sanda

30 Sandakan, Sabah, Malaysia – It used to be my hometown. I was so happy to see my relatives. A lot, a lot of relatives and friends greeted me with hospitality. Sea food, tropical fruit and open market small treats tasted superiorly good. The sea foods are so fresh that they are freshly captivated from the ocean and cook to order. There was a fish market deck by the sea. A lot of people are just waiting on the deck for the fishermen to come back with their harvest in the morning. You could buy the sea food right on the spot. There is a restaurant right beside the market. You could imagine what kind of food you can get out of the restaurant. I also visited the rain forest and big red noise monkey.

By the way, my nephew is a guide tour for the foreign visitors. He has promised me he could offer my friends for a very low rate on touring.

You could let me know if you are interested.

forest er, Rain alaysia w to g M Viewin n, Sabah, ka Sanda

rest, Rain fo

Sa

laysia ah, Ma n, Sab a k a d n

Kota Kinabalu is the capital of Sabah. Of course, I would not miss out to stay there for a couple of days.

Taiwan, R.O.C. – It was my final journey. It was a historical tour about Taiwan. The starting point was at the Southern part of the island and traveling upward to the North. The most unforgettable place is the Sun Moon Lake. The title for the tour is “Taiwan, you are so beautiful”. It is indeed a beautiful island.

For all those different places on three different countries, there is one thing in common – delicious food. I could not describe the gourmet delicacy and the beautiful sceneries all in a short article.

“Picture paints a thousand words”, I am letting some of the pictures do the talking. I hope you will enjoy them. oment ceful m , Taiwan a e p A ke oon La Sun M

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Fried Chicken... and Taiwanese paper money and coins, Si Lin market, Taipei, Taiwan

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STC Track Record

Commercial/Industrial Properties Model Retail Center Whittier Retail Center Whittier Retail Plaza Rowland Heights Plaza La Verne Towne Center Lakewood Towne Center Garden Grove Office Plaza San Gabriel Office Plaza Arcadia Professional Medical Office Coffee Bean & Tea Leaf Center Yes Plaza Glendale Office Building

(p a r ti a l li st)

City

GLA (sqft)

Whittier Whittier Whittier Rowland Heights La Verne Lakewood Garden Grove San Gabriel Arcadia San Clemente Rowland Heights Glendale

24,000 17,000 6,000 60,000 31,000 11,000 66,000 6,324 30,000 5,000 58,321 24,563

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( p a r t i a l li st)

Commercial/Industrial Properties

Montclair Plaza Downey Office Building San Gabriel Executive Office Plaza Irvine Manufacture Warehouse Gilbert Industrial Colonial Retail Plaza New Life Plaza Garfield Lincoln Plaza Gold World Plaza Alhambra Regency Mixed Use Monrovia-Arcadia Center Crenshaw Retail Plaza Fullerton Valley Business Industrial Center Market Circle Retail Plaza Santa Ana Commercial Center Chapman Professional Plaza Food4Less Retail Center Pacific Orthopedic & Medical Center Alhambra Retail/Office Plaza Valley Plaza San Gabriel Restaurant Building Vilaggio Residential/Commercial Mixed Use Hollywood Retail Center Alhambra Fremont Retail Center Walnut Lemon Creek Vons Retail Center The Piazza at Temple City Rowland Heights Center Concourse Medical Center Richer Plaza Crescent Knott Plaza Temple City Retail Center Citrus Grove Valley Plaza Tustin Plaza Park Place Cerritos Seasons Place Walker Plaza Gardena Plaza Moorpark Plaza Plaza del Este Fullerton University Shopping Center Grandview Medical Plaza Maureen Apartment Sierra Vista Townhouse HOA Broadway Plaza Racquet Mountain II Association Sunshine Village HOA Marshall St. Apartments Temple City Apartment Homes Walnut Grove Senior HOA

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STC Track Record City

Montclair Downey San Gabriel Irvine Garden Grove Los Angeles San Gabriel Monterey Park San Gabriel Alhambra Monrovia Los Angeles City of Industry Covina Santa Ana Garden Grove San Bernardino Alhambra Alhambra San Gabriel San Gabriel Arcadia Beverly Hills Alhambra Walnut Temple City Rowland Heights City of Industry San Gabriel Buena Park Temple City Covina Pomona Tustin Cerritos City of Industry Cypress Gardena Studio City Hacienda Heights Fullerton Chino Garden Grove Hacienda Heights Los Angeles Montebello Rowland Heights San Gabriel Temple City Walnut

GLA (sqft)

51,316 7,000 8,000 60,000 100,000 15,858 45,000 25,000 65,000 26,000 50,000 11,000 200,000 23,000 6,000 33,000 80,000 44,000 10,000 8,000 2,700 20,000 5,000 20,000 60,000 170,000 8,064 45,881 8,704 30,090 6,500 34,925 11,672 10,200 58,000 80,000 14,000 3,300 6,200 20,000 100,000 62,000 16 Units 300 Units 15 Units 185 Units 125 Units 6 Units 16 Units 108 Units

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33

2010 Reflections 2010

has been a year of change, chance, and challenge.

Moving from the dirty south Peach State to the Golden State has been an adventurous and fruitful experience.

And here is to another colorful new year in 2011.

Cheers. ~ Justin Tsai, CCIM Leasing Manager 當你來到這 個 世 界 , 卻 發 現 這 個 世界不適合 你 的 時 候 , 對 不 起 , 你 已回不去了 . 人是為了”存 在 ”而 來 到 世 間 , 卻 也為了”存 在 ”而 窮 忙 一 輩 子 . 學如逆水 行 舟 , 不 進 則 退. 可 我 自 覺已經很 努 力 在 學 , 卻 發現 自 己 一直在退 步 . 放的下是 讓 你 再 次 的 拿 的 起 . 人 的智慧與 年 齡 同 步 成 長 . 若 拋 不 開您的雜 念 , 則 無 更 多 空間 接 納 更好的東 西 . 急事,慢慢 的 說 大事,清楚 的 說 小事,幽默 的 說 沒把握的 事 , 謹 慎 的 說 沒發生的 事 , 什 麼 也 不 用多 說 發生過的 事 , 也 沒 啥 好 說的 . ~ SueAnn Tai Management Division

“life does not always turn out

the way we plan. But along the way we are learning to be a better person, a better mom/dad, a better wife/husband, a better employee/boss. Life is about dealing with success AND the setbacks and that’s what make us grow. Just Pray for the best, and definitely prepare for the worst.” ~ Chloe Hsiao, Accounting Manager

在 過 去 的 一 年裡，我看到我們的火車頭不辭辛苦的帶領著我們平穩快速的向目的地行駛， 雖 然 有 人 上 車 ， 也有人下車，但這並沒有影響我們行駛的方向與速度。而我自己也曾因為 某 些 困 難 想 要 放 棄，沒有放棄是因為我覺得火車頭把我從起點帶到了這麼遠的距離而對他 不 起 ， 因 為 大 家 有緣才能相聚在一起，有了默契，團結才能愉快的工作在一起，所以我珍 惜 和 大 家 在 一 起 的每一天！ ^_^ ~ Ying Xiang, Accounting Division

There are too many to say about my feeling in STC 2010. Basically, I was growing together with my company. There are more network, more knowledge, more technology. And there is the most important point, the mission of the company is to serve and help people. I feel myself and STC connected with 緣份.

In the coming 2011, although I don’t know how long my 緣份 is with STC. I hope I keep on growing with my company. To build more network, more knowledge and more technology. I hope more people join in our fantastic team to share our goal: To serve and help people. ~ JC Guo, Accounting Division

It was a busy and happy year with STC 2010. I love my work, I love my accounting team and

I love SI love T C my M dance A N Ateam, GEM E Nall T the 2 0owners.

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Although I’m leaving at the year end, I do feel it’s a serious loss in my life. I hope STC keep on growing and growing to reach our goal (serve every single Chinese in US.) ~ Amy Fan, Accounting Division

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During this year, I made a big decision on my career for taking an early retirement from a public trading manufacturing company after devoted more than 28 years of services. Next, I was rendered an opportunity to be a consultant on a completely different field of business - STC Management, a service company. I am looking forward to grow with the company.

My other adventure this year was taking a one month tour to China, Malaysia and Taiwan in October. It was fun, fun, fun. ~ Irene Lai, Accounting Consultant

WOW!! 2010 Sure is a challenge year for me and many of our

tenants, owners and friends. I see a lot of long term business had closed down, and see some of owner run into financial problem, and even some of my coworker have change their career and I even attend two funerals this year. It was depressed, but I also meet some business owners who have great idea and ready to expand into new territory, open new store in unfamiliar city. Change will bring us forward, but time wouldn’t go backward. Catch every second of your life and maximize it. ~ Benjamin Chen, Property Manager

As the time goes by, we are only one step away from the

year of 2011. While we making new goals and wishes for the upcoming year, it is also the time to look back and evaluate what we have done and accomplished for the year of 2010. It’s been a little bit more than a year after joined the STC family, where I start my first job after graduated from college. I’ve been learning all kinds of new stuff ever since I started to work at STC Management, they have taught me not only the things that are related to the real estate industry or work, but also helped me to lead the way of thinking life.

Finding goals and achieve them with no regrets have been my life principle, and this is what I have seen in STC Management. We have successfully accomplished a lot of new projects in the year of 2010, I am happy and proud of being part of the team while STC grows. I’m looking forward to work with the team and wish them best luck in the future. ~ Beatrice Hsieh, Accounting Division

2010 has been such a long and short year. I had wished there

were more hours in a day for me to work. But my life expectancy and the ever emerging lines on my face had both advised me, unless I can clone myself, that’s a fool’s wish.

人 類的2010年是光線亮麗的。 鬥牛士過關斬將最終高

Note to thyself forth coming 2011, work smarter, and be prepared for 2012!! And oh yeah, and to remember..nothing is life or death, unless, you know, life or death :D

高舉起了大力神杯，上海世博豪氣干雲的創下了歷來最 高流量； 遺憾的是大自然的創傷就在這一些現代文明的踐踏之 下，顯得格外暗淡。

~ Amy Li, Marketing Manager

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~ Harry Tan, Management Division

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2010 Reflections Haikus for green The earth is dying, Must save natural resource, Renewable source.

Friends of nature know, Sun powers all living things, Harness that power.

Wind has the power to turn, Wind does not just blow, Has the power to move things.

Alternative life.

-~ John Lin Management Division

Haikus of the Double Rainbow

2 0 1 0 年 是 我 人生的一個轉捩點, 我從一個學生變成了一個社會人, 這也是我確定事業航 向 及 訂 下 人 生 目標的一年. 我在這一年中拿到了地產經濟執照, 買賣了幾棟房屋, 參加了STC 資 產 管 理 公 司 , 也 買下自己人生的第一棟房子. 我認為這是一個很好的開始, 也深信將來會 有 更 好 的 成 績 ! !! “ 我 的 未 來 不 是夢~” ~ Tom Tseng, Management Division

今 年 是 好 的 一年,

認識了很多新的同事, 學了很多新的東西, 是一個很愉快的一年.希望2 0 1 1 年 有 更 多 新 的 東 西可以學習, 認識更多的人, 讓2011年更愉快! ~ Victor Zhu, Maintenance Division

2010 has been a great year for me.

I was given the opportunity with STC Management to be one step closer to achieving my lifelong goal. It has been a pleasure making new friends, colleagues, superiors and team support.

STC Management gives the impression of having a second family you can have fun with and trust. I would definitely refer this company to my circle of influence anytime ~ I Hsing Chou, Management Division

Double rainbow, yes!

Ecstatically wonderful But what does it mean?

Whoa! Double rainbow!

All the way across the sky.

It is so intense.

So bright and vivid.

Double rainbow, oh my God! Almost a triple! ~ Calvin Chu Management Division

We believe that we are living in the hard economic times.

We also feel that it is important for all of us to think about what the outcome of present condition

finest Swill T Cbe.MSTC A Nprovides A G E Mthe EN T 2basis 0 1 0on Rhow E V ItoE cope W with difficult situation or discussing reasons for confidence solution in a better future.

Over 15 years I have seen STC Management provides services and further aids in paving the way to success to their customers. ~ Edy Nicolasia, Maintenance Division

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2010

年 , 永 遠 都 無 法 忘記 的 一 年 ! 在 這 一 年 中 , 結 束 了一些事, 但也是一 個 新 的 開 始 . 上帝 關 了 一 道 門 , 但 也 為 我 開 了一扇窗!曾 經痛苦,失 意 過 , 但 也 快 樂 開 心 過 . 要 感 謝 那 些 在 我 痛 苦 失意時, 給 我鼓勵安 慰 的 人 ; 更 要 感謝 所 有 和 我 共 享 快 樂 和 開 心 的朋友們!失 去過才知 珍 惜 . 感 謝 我 仍擁 有 身 體 的 健 康 ; 感 謝 我 仍 能 享受父母健 在的幸福 ; 感 謝 我 仍 擁 有兄 弟 姊 妹 的 支 持 ; 感 謝 我 仍 擁 有朋友們的 關心! 生命是一種過程,可悲的是它不能重來,可喜的是它也不需要重 來…… 這一生中 , 你 錯 過 了 什 麼? 太太在二 十 五 歲 時 問 丈 夫 , 丈 夫 沮 喪 的 回 答 她 : 我 錯 過了一個新 的工作機 會 . 三十五歲 時 , 丈 夫 生 氣 的告 訴 她 : 我 剛 錯 過 了 一 班 公 車 四十五歲 時 , 丈 夫 傷 心 的說 : 我 錯 過 與 親 人 見 最 後 一 面 . 五十五歲 時 , 丈 夫 失 望 的回 答 : 我 錯 過 了 退 休 的 好 時 機 . 六十五歲 時 , 丈 夫 匆 匆 的答 說 : 我 錯 過 了 看 牙 醫 的 時 間 . 七十五歲那年,太太不再問先生了,此時,先生正跪坐在病危的太太 面前,想起太太每隔一段時間,總要問他的問題,他反過來問太太, 而太太的 微 笑 中 帶 著 解 脫 回 答 : 這 一 生 , 我 沒 有 錯 過 你 ! 此時,先生早已淚流滿面,原以為兩人可以永遠在一起,所以,終日 忙著工作 與 繁 瑣 的 事 , 卻從 不 曾 用 心 體 貼 朝 夕 相 處 的 的另一半, 先生緊抱 著 太 太 說 : 這 輩子 , 我 錯 過 妳 五 十 年 來 的 深 情 …… 繁忙的都市裡,有著許多為工作打拼的人,大家總習慣於把工作當 成生活的 重 心 . 為了滿足社會的價值,不惜出賣自己的時間與身體,捨不得多花時 間投資健康,以至於錯過了陪同孩子成長的機會,忽略的身旁關心 自已的至 親 , 輕 忽 了 自 己的 身 體 . 沒有人知 道 明 年 今 日 會 是 怎 樣 ? 人世無常,趕緊把握當下,把心中的感激告訴愛妳的人,用行動關心 妳的家人,把每一天都當成人生的最後一段經營,即使走了,也能讓 自己及身 旁 的 人 了 無 遺 憾 . 懂得『珍 惜 、 知 足 、 感 恩 』 ， 就 擁 有 了 生 命 的 光 彩 。 ~ Susan Lu, Management Directo

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歲 末是送舊迎新的時刻，也是一個特別感恩的時機。感謝

團隊今日的合作、創造更好的明日和未來。一年的光陰飛 逝，很多事情跟著過去快樂的、辛苦的、以及每天不同的挑 戰與目標而過得非常充實又有義意。懷著感恩的心有緣與大 家一起分享以下文章： 西方人說：“同一件事，想開了就是天堂，想不開就 是地 獄。”人的煩惱多半來自於自私、貪婪，來自於妒忌、攀 比，來自於自己對 自己的苛求。托爾斯泰就曾說過：“大 多數人想改變這個世界，但卻極少有人想改造自己。”古人 說“境由心造”。一個人是否快樂，不在於他擁有什麼，而 在於他怎樣看待自己的擁有。快樂是一種積極的心態，是一 種純主觀的內在意識，是一種心靈的滿足程度。一個人能從 日常平凡 的生活中尋找和發現快樂，就會找到幸福。 播下一種心態，收獲一種性格； 播下一種性格，收獲一種行為； 播下一種行為，收獲一種命運。 覺得太嚴肅的話, 以下與大家一起開懷一笑: 一位老兄獨自到紐約出差。工作之餘，打算看看風景名勝。 為此他查考了大量的資料，選擇去自由女神像。 為了週全，甚至把負責自由女神參觀的聯繫電話都找到了...

666-2613。 當天，他叫了輛計程車準備出發，下面是他和計程車司機 的談話: 計程車司機問道： “Where do you want to go, Sir? “ 老兄不知道自由女神像英文稱為 “Statue of Liberty “。 他想自由應該是FREE女神大概是WOMAN。於是回答司機 “FREE WOMAN “ 司機聽成 “免費的女人“，馬上道“What? Oh! Hey man!

This is America. Nothing is free! “ 老兄： “Oh! How come on! I read it from yellow page.

See, here is the phone number, sex - sex - sex - two - sex one - free. “ ~ Melody Yang, Management Director

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