Less Perks For Thailand Elite Card Holders

[doggie888888]

class action likely, or would the suckers prefer to remain anonymous ?

Are you so envious of people on the program that you have to resort to calling them names? They are not anonymous but they certainly discreet. Some may have stretched their finances a bit to be on the program but others really consider the "investment" as play money. Whichever category, of course they would be unhappy if a purpotedly GOVERNMENT BACKED program is allowed to renege on its promises to its members without due compensation.

[doggie888888]

"TPC has also learned many cardholders are now living in Thailand, which is against the membership criteria and pushes up the operating costs."

What a bunch of BS. They specifically marketed to card to foreigners living in Thailand. They should be sued by the members.

Exactly right...it was TARGETTED at people who wanted a longer stay in Thailand without visa hassles.

[simcity]

Did you have to be referred to enter this exclusive program ?

Sound a bit like Madoff ponzi scam to me.

[doggie888888]

I am not entirely clear how th Madoff ponzi scheme works so I am not in a poistion to draw comparisons. The eligibility criteria is on their website, no need for referrals.

I have been a member for 3 years now, so in another 2 years, I'll know if they will renew the 5 year visa; which is the most important aspect for me.

At this point of time due to uncertainty, it's a personal decision whether you want to join or not. I don't think you should view it as an investment decision, more of a lifestyle choice. Certainly don't do it if you need to stretch your finances, but by all means consider it if you are at a point in your life where you can afford THB 1mil for some convenineces with regards visa and help with govt applications eg drivers licence...and can afford to risk losing the THB 1mil (honestly TE has been poorly run and poorly marketed). And can you withstand critisicms and sniping from non-members who will pass judgement on your indulgence?

Personally, I think a new broom will reorganise the whole program...I know some members are CEOs of listed companies and some are people with connections with influential Thais and Ministers. Any lobbying will be discreet and off the front pages.

[animatic]

I am not entirely clear how th Madoff ponzi scheme works so I am not in a poistion to draw comparisons. The eligibility criteria is on their website, no need for referrals.

I have been a member for 3 years now, so in another 2 years, I'll know if they will renew the 5 year visa; which is the most important aspect for me.

At this point of time due to uncertainty, it's a personal decision whether you want to join or not. I don't think you should view it as an investment decision, more of a lifestyle choice. Certainly don't do it if you need to stretch your finances, but by all means consider it if you are at a point in your life where you can afford THB 1mil for some convenineces with regards visa and help with govt applications eg drivers licence...and can afford to risk losing the THB 1mil (honestly TE has been poorly run and poorly marketed). And can you withstand critisicms and sniping from non-members who will pass judgement on your indulgence?

Personally, I think a new broom will reorganise the whole program...I know some members are CEOs of listed companies and some are people with connections with influential Thais and Ministers. Any lobbying will be discreet and off the front pages.

A Ponzi Scheme means that early adopters pay in

and later adopters pay off the perks the early ones get.

http://www.sec.gov/answers/ponzi.htm

"Ponzi" Schemes

Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s. Ponzi thought he could take advantage of differences between U.S. and foreign currencies used to buy and sell international mail coupons. Ponzi told investors that he could provide a 40% return in just 90 days compared with 5% for bank savings accounts. Ponzi was deluged with funds from investors, taking in $1 million during one three-hour period—and this was 1921! Though a few early investors were paid off to make the scheme look legitimate, an investigation found that Ponzi had only purchased about $30 worth of the international mail coupons.

Decades later, the Ponzi scheme continues to work on the "rob-Peter-to-pay-Paul" principle, as money from new investors is used to pay off earlier investors until the whole scheme collapses. For more information, please read pyramid schemes in our Fast Answers databank.

Madoff did a much lower payout, but compared to market investments pretty high,

and so he dragged out the whole scheme until the economy completely tanked

and he couldn't hide it any longer.

The screaming irony is that Thaksin started this "Elite" baiting boondoggle,

and now his minions are totally anti-Elite to try and bring him back to power.

When in power he was oh so for 'The Elites', he is one of them by the way,

but out of power and disgraced... it's all "The Elites' fault.

Edited July 19, 2009 by animatic

[doggie888888]

I am not entirely clear how th Madoff ponzi scheme works so I am not in a poistion to draw comparisons. The eligibility criteria is on their website, no need for referrals.

I have been a member for 3 years now, so in another 2 years, I'll know if they will renew the 5 year visa; which is the most important aspect for me.

At this point of time due to uncertainty, it's a personal decision whether you want to join or not. I don't think you should view it as an investment decision, more of a lifestyle choice. Certainly don't do it if you need to stretch your finances, but by all means consider it if you are at a point in your life where you can afford THB 1mil for some convenineces with regards visa and help with govt applications eg drivers licence...and can afford to risk losing the THB 1mil (honestly TE has been poorly run and poorly marketed). And can you withstand critisicms and sniping from non-members who will pass judgement on your indulgence?

Personally, I think a new broom will reorganise the whole program...I know some members are CEOs of listed companies and some are people with connections with influential Thais and Ministers. Any lobbying will be discreet and off the front pages.

A Ponzi Scheme means that early adopters pay in

and later adopters pay off the perks the early ones get.

http://www.sec.gov/answers/ponzi.htm

"Ponzi" Schemes

Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s. Ponzi thought he could take advantage of differences between U.S. and foreign currencies used to buy and sell international mail coupons. Ponzi told investors that he could provide a 40% return in just 90 days compared with 5% for bank savings accounts. Ponzi was deluged with funds from investors, taking in $1 million during one three-hour period—and this was 1921! Though a few early investors were paid off to make the scheme look legitimate, an investigation found that Ponzi had only purchased about $30 worth of the international mail coupons.

Decades later, the Ponzi scheme continues to work on the "rob-Peter-to-pay-Paul" principle, as money from new investors is used to pay off earlier investors until the whole scheme collapses. For more information, please read pyramid schemes in our Fast Answers databank.

Madoff did a much lower payout, but compared to market investments pretty high,

and so he dragged out the whole scheme until the economy completely tanked

and he couldn't hide it any longer.

The screaming irony is that Thaksin started this "Elite" baiting boondoggle,

and now his minions are totally anti-Elite to try and bring him back to power.

When in power he was oh so for 'The Elites', he is one of them by the way,

but out of power and disgraced... it's all "The Elites' fault.

Thank you for the info re:Ponzi.

I actually think the first mistake is to call it Thai ELITE. It's the snob factor that turns people off (even members like me) and brings out the people whose interests are merely to chop off whoever they think are tall poppies. My friend calls it visa-envy

Truly, most TE members cringe at the name and just want an easy/convenient visa especially if they are under 50. Malaysia is smarter becuase Malaysia My Second Home sounds so much more welcoming and "normal" and the amount they require is more than the THB 1mil that buys the "elite" tag in Thailand!

[Abrak]

As I recall there was nothing to prevent ordinary foreign residents from joining the TE program although Permanent Residents were not supposed to be allowed to join.

I find it hard to believe that most members have not received 10% of their initial Bt1m in services, considering membership came with a free first class return ticket on Thai to anywhere. I, for one, feel I have had my monies worth but then I am resident here.

Those wishing to sue the company I think were being both naive about its prospects and now in any expectations of legal recompense. The card was a Thaksin political policy and, as such, was only good for its promises while he was around. If the program had been well executed, it might have even survived him, but noone should have been that surprised it was a shambles. Top golf courses were generally happy to let premium visitors on their course at half rates, so long as they were paid but they werent. And Bt100ms was frittered away on CNN adverts. TE wont even have the money to pay any damages awarded.

TE members to the extent they have a claim against TE are effectively unsecured creditors to a company which has I suspect little to no net worth. I know it is de rigeur in the current crisis for Governments to aim bailouts at the privileged few but this courteousy is not usually handed to foreigners.

[sibeymai]

class action likely, or would the suckers prefer to remain anonymous ?

Are you so envious of people on the program that you have to resort to calling them names?

The confusion and poor handling surrounding the launch of the program from both the promoters and the government said "this ain't gonna last" right from the very beginning. Combined with Thailand's track record of constantly moving the goal posts for any regulatory matters pertaining to foreigners and the Thailand Elite card was a definite no-no.

You won't find Mr. Blind Freddy in the membership list. He saw it coming.

As for calling people names......there's one arriving in Thailand every minute.

[doggie888888]

sibeymai, i was typing a response and guess what...I can't be bothered. Suffice to say, I dont need to justify my lifestyle choices and/or expenses to you. good bye.

[BarryM]

Does the program still offer 2 for 1 deals on TG first class? if so after 8 rt trips to London you get your money back.

[Abrak]

Does the program still offer 2 for 1 deals on TG first class? if so after 8 rt trips to London you get your money back.

Well the answer to this one is 'yes' and 'no'....

The 'TE Elite program' does still offer a 2:1 first class ticket offer but on the basis of my last trip to London (which was 3 weeks ago) there was virtually no saving.

You have to pay full fare for your first ticket and 'taxes' on your second ticket so I was offered the 2:1 deal for Bt340k all in for two tickets.

If you book through the internet you can get a fully flexible, fully refundable fare first class for Bt172k or about Bt183k inc taxes, so the saving is only about Bt20k (and you must travel together). The problem is that Thai has increased its full fare 22% over the year while fuel prices have halved over the past year. It used to be a pretty good deal I will admit although others say they could get it with things like Amex Platinum.

I usually do the 2:1 thing but went EVA Premium Laurel for Bt200k (for two business class) instead to save costs.

[Serpico]

It's just one more attempt to discredit Thaksin.

Have you noticed he is more popular than ever?

Democrats would not have a chance if elections were called today. Thais love Thaksin. This country was hijacked in 2006.

The yellow team can't handle a charismatic, intelligent guy overshadowing the inevitable transition of an unworthy figure. We can't even talk about it really.

They have been smearing Thaksin for years in the Thai press. A good percentage of the farangs here lapped that up too.

Things were way better when the CEO was running the show you must admit.

[Thaising]

Elite-card firm wants Cabinet to decide fate

By THE NATION

Published on July 21, 2009

Thailand Privilege Card (TPC), operator of the Thailand Elite Card, next month will ask the Cabinet to decide its future.

Chairman Thongchai Sridama yesterday said first the company would prepare four options for the Tourism Authority of Thailand (TAT) to select from on July 29 for presentation to the Cabinet. They are closure; privatisation, with the private sector invited to own half; maintaining present operations; and transferring the company to the TAT.

Thongchai said if the company were shut down, the government would have to pay Bt2.3 billion in compensation to members and staff. The company's board members will likely disagree with this solution, because it could further damage the country's image.

"The government is waiting for the results of a study before determining the future of the company," said Thongchai.

He said the company had already lost Bt1.4 billion and thus needed some sort of a revision.

Acting president Udom Methathongrongsiri said the firm had cash flow of only Bt408 million but debt of Bt1.4 billion. However, the company is cutting 62 per cent of its operating costs.

"The company has had no revenue since the government ordered our operations frozen in February, but we still have huge costs," said Udom.

So far, the company is working with the Foreign Ministry and foreign offices of the Tourism Authority of Thailand to keep members informed about the company's situation.

The company is also joining with King Power International, operator of duty-free shops, to offer promotions encouraging member spending while in Thailand.

[john b good]

class action likely, or would the suckers prefer to remain anonymous ?

Are you so envious of people on the program that you have to resort to calling them names? They are not anonymous but they certainly discreet. Some may have stretched their finances a bit to be on the program but others really consider the "investment" as play money. Whichever category, of course they would be unhappy if a purpotedly GOVERNMENT BACKED program is allowed to renege on its promises to its members without due compensation.

I don't think that anyone is or should be envious of "the suckers"

I was offered the opportunity to buy the Brooklyn Bridge one day and fortunately I turned it down and later found that one of my friends had bought it the day before. I told him that there was one (a sucker) born every minute.

And sucker is the right title for anyone who bought membership in the Thai Elite scheme. Of a targetted number of one million members I believe that there were less than a thousand "suckered" in. What does that tell you

[Netfan]

Elite-card firm wants Cabinet to decide fate

By THE NATION

Published on July 21, 2009

Thailand Privilege Card (TPC), operator of the Thailand Elite Card, next month will ask the Cabinet to decide its future.

Chairman Thongchai Sridama yesterday said first the company would prepare four options for the Tourism Authority of Thailand (TAT) to select from on July 29 for presentation to the Cabinet. They are closure; privatisation, with the private sector invited to own half; maintaining present operations; and transferring the company to the TAT.

Thongchai said if the company were shut down, the government would have to pay Bt2.3 billion in compensation to members and staff. The company's board members will likely disagree with this solution, because it could further damage the country's image.

"The government is waiting for the results of a study before determining the future of the company," said Thongchai.

He said the company had already lost Bt1.4 billion and thus needed some sort of a revision.

Acting president Udom Methathongrongsiri said the firm had cash flow of only Bt408 million but debt of Bt1.4 billion. However, the company is cutting 62 per cent of its operating costs.

"The company has had no revenue since the government ordered our operations frozen in February, but we still have huge costs," said Udom.

So far, the company is working with the Foreign Ministry and foreign offices of the Tourism Authority of Thailand to keep members informed about the company's situation.

The company is also joining with King Power International, operator of duty-free shops, to offer promotions encouraging member spending while in Thailand.

That last line is a joke, right? Right?

[basjke]

Elite-card firm wants Cabinet to decide fate

The company is also joining with King Power International, operator of duty-free shops, to offer promotions encouraging member spending while in Thailand.

That last line is a joke, right? Right?

Not really.I've read some stories already from foreigners who,after visiting King power,got promotional accomodation at a motel near the airport.

[torrenova]

At the time this came about you could get an investment visa by purchasing a condo with a legal / tax paid value of Bt3m or above. You would now be grandfathered into that scheme. You would also own the condo and it would be worth far more than a couple of worthless Elite cards !

[mca]

Not really.I've read some stories already from foreigners who,after visiting King power,got promotional accomodation at a motel near the airport.

And the option of fast tracking the Thai legal system.

*Please note. This option is only available to members with ATM cards on their persons.

[Rockefeller]

More bad news coming guys. An Elite representative says yet another round of benefits cuts has been approved and we will be notified about the ramifications within weeks or even days. They refused to let me use an important benefit because its end is imminent. Below is an email we received from Elite regarding the previous round of benefits cuts in case you didn't get it.

June 12, 2009

Dear Thailand Elite Valued Members:

On behalf of Thailand Elite, I would like to express our sincere gratitude to all our members for the continuous kind concern and great support to Thailand Elite. It has been our pleasure to serve you in the past and we still look forward to serving you in the future.

Due to the current situation and the worldwide economic crisis which affect to Thailand and also Thailand Elite, we have to revise some Privileges and Benefits in order to sustain the whole program. As of now, kindly be informed for the revised Privileges, which are:-

• New Camry is now used for the transfer service in Bangkok whereas Toyota Commuter will be for Chiang Mai, Phuket, and Samui.

(Remark: Additional charge will be applied directly to members for the extension of route beyond the scope of service)

The above change has been effective since June 2, 2009. Also, please be reminded to the other airport services conditions as follows.

• By an advanced reservation, CIP Lounge is complimentary free of charge to only Members of Thailand Elite who are traveling with Economy Class tickets with our EPA escort. Using airline lounges when traveling with First Class/Business Class tickets would be highly appreciated for cooperation.

• Immigration Fast Track is available to members and other immediate family members who are traveling with only.

On the other hand, according to the company current situation, we must apologize for any inconveniences members may have been facing during these days for some unavailable golf courses and spas. After all revision, we will keep our members informed of the new lists and any other updates.

[midas]

More bad news coming guys. An Elite representative says yet another round of benefits cuts has been approved and we will be notified about the ramifications within weeks or even days. They refused to let me use an important benefit because its end is imminent. Below is an email we received from Elite regarding the previous round of benefits cuts in case you didn't get it.

June 12, 2009

Dear Thailand Elite Valued Members:

On behalf of Thailand Elite, I would like to express our sincere gratitude to all our members for the continuous kind concern and great support to Thailand Elite. It has been our pleasure to serve you in the past and we still look forward to serving you in the future.

Due to the current situation and the worldwide economic crisis which affect to Thailand and also Thailand Elite, we have to revise some Privileges and Benefits in order to sustain the whole program. As of now, kindly be informed for the revised Privileges, which are:-

• New Camry is now used for the transfer service in Bangkok whereas Toyota Commuter will be for Chiang Mai, Phuket, and Samui.

(Remark: Additional charge will be applied directly to members for the extension of route beyond the scope of service)

Un fckuing believable- they scammed a million baht from these people and now want to impose an extra charge on them

The above change has been effective since June 2, 2009. Also, please be reminded to the other airport services conditions as follows.

• By an advanced reservation, CIP Lounge is complimentary free of charge to only Members of Thailand Elite who are traveling with Economy Class tickets with our EPA escort. Using airline lounges when traveling with First Class/Business Class tickets would be highly appreciated for cooperation.

• Immigration Fast Track is available to members and other immediate family members who are traveling with only.

On the other hand, according to the company current situation, we must apologize for any inconveniences members may have been facing during these days for some unavailable golf courses and spas. After all revision, we will keep our members informed of the new lists and any other updates.

Edited July 22, 2009 by midas

[sibeymai]

What does the "worldwide economic crisis" have to do with the need to reduce services ?

The cost of those services has not changed significantly since TE received their 1 billion baht plus from members. The TE management must certainly think their members are fools to believe this reason.

Er, hang on, they did buy into the scheme (scam) didn't they. Guess there can be no argument what the TE management thinks of their members then.

[jaidam]

What a great thread. Of course a totally predictable (and somewhat agonising) death to a moronic scheme concocted by a compulsive liar.

The level on my joy-o-meter would raise from the current seriously amused status to rabid jubilation if only the Thai Elite memeber who ends his every post with " I love Thai Elite" could chime in. Its the only thing this thread is missing so far.

Please, where ever you are. You are urgently needed.

BTW is it too late to join the TE scheme? I may make an enquiry to their offices this afternon.

I love the Toyota commuter....

[hazz]

Acting president Udom Methathongrongsiri said the firm had cash flow of only Bt408 million but debt of Bt1.4 billion. However, the company is cutting 62 per cent of its operating costs.

"The company has had no revenue since the government ordered our operations frozen in February, but we still have huge costs," said Udom.

To me this sounds like mr acting president is admitting that thai elite is structured as a pontzi scheme. If you are offering a life time membership that relies on the money of new members to balance the books each year what else can it be?

[sibeymai]

Thaksin's brainchild.

Does that make him the Bernie Madoff of Thailand ?

[Thaising]

Thaksin's dream of luring the elite lies in tatters

It started with a flourish and some wildly optimistic predictions but it looks like it may end with a whimper

It was one of the most ambitious plans initiated under the Thaksin Shinawatra regime and intended to give birth to the country's richest state enterprise.

In November 2003, Mr Thaksin proudly presented 80 gold Thailand Elite cards to international VIPs and eminent people, including Japanese trade chiefs and US banking and financial supremos. The cards promised fast-tracked immigration, discounts at luxury resorts and golf courses, and many other perks.

The optimistic estimates to attract the world's wealthy were mind-boggling; a million subscribers to generate a trillion baht in revenue.

But early signs were not encouraging. After four months, a meagre 400 memberships had been sold, barely a dent in the 100,000 target for the first year of operation. Panicky officials talked of targeting China's nouveau riche, and predicted they would attract 30,000 Chinese within 12 months.

But six years later, the total number of members is a risible 2,570, and the Thailand Privilege Card Company (TPC), set up by the Tourism Authority of Thailand (TAT), to run the scheme has a crippling net loss of 1.4 billion baht.

Next month, the Cabinet will be asked to decide the company's fate. The TAT is due to decide this Wednesday on whether the company should be closed, privatised, form a joint partnership with the private sector, or, come under the control of the TAT.

Reality has overtaken fantasy. "It was unrealistic in the first place with such an ambitious target of one million members," said Udom Metatamrongsiri, acting president of TPC.

The scheme was developed by TAT staff under the directive of the Thaksin government, which hoped that it could help generate income at "the rate of a leap of a frog", according to an internal company report.

Under the scheme, members obtained five-year visa entry, which was renewable once it expired. They also had access to unlimited privileged leisure services which included golf, spas and VIP transport in BMW 7 series vehicles.

"In principle, we cannot totally say that the scheme was unfeasible in the first place," said Mr Udom, a board member who took over the presidency earlier this year.

"I think the first generation of the company's executives would never think that what they offered as secondary benefits would become the company's big burden."

In the first year of operation, the company sold 139 Elite Card lifetime memberships. However, the number so far this year is a measly two. The total memberships equate to 2.5 billion baht in revenue, which has not all been declared in the company's annual financial statements. By law, Thai companies are permitted to spread income figures over a 10 year period, a practice which is stated in TPC's annual report (see graphic).

So how is it meeting financial commitments with companies involved in the scheme? According to Mr Udom, TPC has to pay every service fee to tourist facilities that its members use, including the golf courses, spas and luxury transport. This costs up to 100 million baht a year on average.

For example, the company pays 4,600 baht for its members to a play a round at one golf course. So far this year, there were 5,300 visits to golf courses by its members and 11,200 spa visits. Only 200 applied for the main privilege, renewal of the five-year visa.

Besides the big financial burden from the luxury services, Mr Udom has found flaws in the company's previous management. For instance, it paid some golf courses in advance with amounts of up to 20 million baht.

Another case involves the planned purchase of an IT system for 100 million baht to improve the company's communication services for its members. But there was never a clear explanation as to why the new system was needed, and the new board decided to suspend the project.

Mr Udom admitted that the company has been plagued with transparency problems, and some of its spending is now subject to investigation by the Office of the Auditor General.

A review by Thammasart University's Economic Faculty's Economic Academic Services Centre - commissioned by the company around two years ago - found the scheme would lose 26-60% on each million baht membership fee, based on modelling done on 2006 figures. The review recommended raising the membership fee to 1.8 million to generate a 20% profit on each membership.

But it found positive long-term economic spin-offs from the Elite Card service, as based on interviews they discovered members spent three billion baht in Thailand in 2006 and would invest 21 billion baht in future projects.

After the Democrat-led government instructed the company to review its operations in January, one option that emerged is closure.

If it does close, it risks having to pay back 2.5 billion baht to present members and the prospects of lawsuits if it cannot fulfil its commitments.

Mr Udom said another proposal is joint investment, with private firms boosting capital to run the company. The other option is that the company is transferred to the TAT, and run as an internal department.

"I don't know which will be picked by the government, but the first option [closure] is unlikely, as this will yield only bad results," said Mr Udom.

Mr Udom said he had cut down the company's costs for this year to 200 million baht. This has angered card holders as a number of premium leisure services and venues have been removed. The membership contract carries a clause that the company "reserves the right to change, revise, or withdraw the service without advance notice".

According to the major agent selling Elite Card membership, only about 12 golf courses are now available to members, down from 35 at the beginning.

Soontaree Chanprasit, president of Aktiv Holding, TPC's sales agent, said the scheme had run into problems partly due to inconsistent government policy.

She said whenever there is a change of government, the scheme is subject to review, and this affects the sales of cards and services for members. Currently, the situation is at its worst, as the company's board has suspended operations, including the sale of new memberships.

The cut in premium services have also prompted many complaints to her company from existing members. Up to 200 complaints have been reported by TPC so far this year.

One card member wrote to the company expressing that he felt sorry about what had happened to the scheme.

He said he personally could see how it should be improved, but "it might be too late now".

http://www.thaivisa.com/forum/Thailand-Eli...rs-t283511.html

[sriracha john]

Thaksin's dream of luring the elite lies in tatters

It started with a flourish and some wildly optimistic predictions but it looks like it may end with a whimper

I guess that's what they mean by the "No Entry" sign on their door at the airport...

[sriracha john]

In the first year of operation, the company sold 139 Elite Card lifetime memberships. However, the number so far this year is a measly two.

and Thaivisa has been privileged to hear from nearly all of these supposed members over the course of 82 threads covering the past five years.... and yet surprisingly....

Up to 200 complaints have been reported by TPC so far this year.

from all these alleged members posting, I can't remember a single complaint...

Edited July 26, 2009 by sriracha john

[ovenman]

However, the number so far this year is a measly two.

One can't help but wonder about these two members who bought into Thailand Elite just this year, with the program seemingly in its death throes. But I suppose we'll be hearing from all ten of the two joinees shortly on ThaiVisa, boldly proclaiming how they got their money's worth out of the scheme within six weeks of buying their membership.

[sriracha john]

reply moved to new mass emailed thread...

http://www.thaivisa.com/forum/Thailand-eli...46#entry2897846

Thailand 'elite' Program In Tatters, Thaksin's dream of luring the elite lies in tatters

perhaps we should close this one to avoid further doubling up...

[astral]

Less Perks For Thailand Elite Card Holders

"We need to control all of our costs, as well as the number of new members.

Now that is Thai Logic.

Surely new member are the way to boost funds and ease the situation.