a well spent saturday!

today there was the world MBA tour at the Hilton towers, Mumbai. bad on our part to reach there 2 hours late and miss some initial action, but Brij told that it wasn’t great to regret missing it. Going around the stalls of various schools, we were keen on one year MBA program and the schools that made it to interest me are Cornegie Mellon, Thunderbird, SDA Buccoli apart from the INSEAD and UIUC that i am already in awe of. Let’s see where we go from here!

Now, with the TOI in hand…

To follow up yesterday’s report on UN’s chief’s election, Shashi Thoroor slips in the count of his encouragements. Though the leader in the pack, Ban Ki Moon (S Korea’s FM) too lost ground, he keeps the distance well ahead of second Thoroor. But the thing that comes to the advantage of the Indian is the news that S Korea is using money power to win support. I wish it works in Thoroor’s favour.

The plea of J&K’s CM, Ghulam Nabi Azad, has asked the Indian government to consider presidential pardon for the man who attacked Parliament, Mohammad Afzal Guru or atleast suspend the hanging from the current date that falls on the last friday of the holy month of Ramzan. I don’t favour the pardon, but hope that government considers suspension of hanging to a later date just to avoid unecessary commotion in the country which may take unfortunate turn.

Will this work as the government announce Rs.16,978 crores rehab package for farmers in four states of AP, Karnataka, Kerala and Maharashtra? It has a certain loan component and will be implemented over a period of 3 years. Is this the farmers really want? What happens after 3 years? Aren’t we just postponing the decision of suicide by 3 years? In my opinion, what farmers need is development in their areas – electricity, wells, water supply all through. In a report, I read that the farmers who have committed suicides are not marginal, rather they have decent holdings of land but their debt dues have been haunting them. Contrast this with wilful defaulters who after digesting banks’ loans don’t even belch. A poor farmer still holds his honour above his life. But what is the guarantee that after this package he won’t fall back to such a state in some years?

NSSO statistics reveal that contrary to the shinning India image, 58% of employable populace did not have jobs in 2004-05! And the rates were higher in urban areas – well that could be because the rural folks might be in urban areas for jobs. So, its still a long way before India can really shine!

And is it for our joy? The 8.9% GDP growth! With farmers suiciding, employable youth without jobs, agri showing deceleration what does this news hold to cheer about? But the silver lining is that the growth has the major contribution from manufacturing sector rather than servicing sector and that holds good prospects.

And, India’s foreign debt is up at $135 billion. Contrast this with the forex reserves of $165 billion. The gap is narrowing. But the deficit would, in my opinion just go on to show the faith international lenders have in India Inc.

is this usual?

It mayn’t have been even six month that something of the same happened again. And how similar are the circumstances. Me, the same Deputy Manager. The same plagiarism with the only difference of the man albiet the designation remains the same: Chief Manager. This time, it’s my efforts on IRS done in Nov 2005 and praised by all. But to be frank, I don’t know why I am not bothered as much as I was when it happened last two times. Maybe it’s time to go!

But before i leave this topic, a belief that theft is a theft.

Now coming to the news that bothered me…

Inzy bhai gets banned for next four games and he’ll play if Pak reaches the finals of the Champions Trophy. Well, we are ready, Tendla will see him there However Hair seems to be unfazed by all that happened. But I think umpires should act responsibly and with care before they pass a judgement – they are equally in the spot-light as are the players.

The news we all are waiting for: UN Chief’s polls. Unfortunately the front runner is South Korea’s foreign minister Ban Ki Moon and our very own suave and gentle Shashi Thoroor is just another candidate. Maybe that article in TOI some days back that we have yet again acted in haste is right. It does not seem that there could be any miracle and Shashi will emerge victorious, but I still wish!

Major news that puts India’s businesses and the businessmen in global reckoning is that M&M is buying a controlling stake of 68% in German Co Jeco Holdings AG, a company involved in forging. Good going!

To end the day with some sporting action, our sweet Sania humbled Hingis in Seoul after having tasted the defeat from the Swiss in Kolkata.

with TOI etc in hand…

  The railways’ answer to low priced airlines – Garib Rath. It’s the architect/designer at work to make that happen. You have more berths in the bogie and hence since the volumes go up per train, the cost of running it comes down and the ultimate beneficiary is the customer – here the traveler. A Delhi-Mumbai AC ticket can now cost as low as Rs.750-800 as compared to present Rs.1500 on Rajdhani/Express and Rs.1000 on low-cost airlines. Lalu has some innovations in his rustic mind!

And don’t tell me that you are surprised at the nomination of RDB (by Rakeysh Mehra) for Indian entry at the Academy Awards. It deserves.

Well, Musharaf’s causing a furore in political circles with his In Line of Fire. I wonder why he could not come out with such a book after his political career would have ended. He has surely missed some very significant historical landmarks – Osama’s death (if it eventually turns out to be true, he will regret on making haste on his autobiography).I am wondering how British soldiers would feel when they visit
India on the occasion of 150^th anniversary of Sepoy Mutiny of 1857. Mixed feelings – for sure – both for those brits and Indians.

Continuing with the Britons, it seems a bigger drama is unfolding in British politics than our very own Parliament. Gordon Brown has publicly expressed his aspirations to be the PM, displacing Tony Blair as the vanguard of the Labor Party against the Conservatives (led by David Cameron).

With an affect on the world economics the oil prices touched below $60 after kissing the zenith of $78. Indians mayn’t gain much from this fall as the rise in the prices was never allowed to percolate down to common man by the government so the fall too won’t be felt by the RK Laxman’s hero. But the government surely stands to gain a lot with lower subsidy burden.

Announcing its entry into the Indian skies through the Frequency Modified waves, Reliance launched FM channel christened BIG 92.7 FM. I feel it’d be just another FM channel and yet another bunch of RJs making use of India’s free/driving hours. Alongwith the same, Reliance is also foraying into retail finance to primarily finance the patrons of its retail ventures.

But the sad news is of suspension of the earlier guidelines (Press note 5) allowing upto 74% FDI in telecom. It has been done at the instance of DoT which believes that broad consensus on some amendments has not been achieved. I fear it is to appease some powerful player(s) in the telecom sector.

And, if you thought the economic boom is here to stay for some more time, then maybe you should give another thought as major investment banks are cutting costs and are doing so in the most unbelievable fashion – Credit Suisse is cutting back on color photocopying, staff parties and client entertainment, and Chuck Prince, CEO of Citigroup also thinking of implementing a review of expenses