December 10, 2008
United Holdings of America Capital Partners???
Came across this interesting copy on the auto bailouts. At the pace at which things are going the US should change its name from 'United States of America' to 'United Holdings of America Capital Partners LLC' or something of that sort
Whats in a name ...
... A rose by any other name would smell just as sweet. Maybe not. (Scroll to the bottom of the page)
December 6, 2008
... and politicians across the Board put their foot in their mouth
One of the positives in the gloom of last week is the mass public outrage at anyone of political ilk. I was at a public rally on Wednesday to show solidarity and for the first time in my life I saw Indian civilians with blood in their eyes. More than 100,000 people thronged the streets of South Mumbai shouting slogans against Pakistan and vilifying politicians.
It has not just been inaction of the government machinery that has stoked public anger but the foot-in-mouth statements made by politicians in the wake of the terror attacks, which spanned from inept to rude and from insensitive to shocking. Some creative minds have channelized this energy into some interesting posters which have been photographed by an anonymous person and which found their way to my inbox.
The Communists fell first. Comrade Achutanandan, the Kerala Chief Minister, was asked by slain soldier Maj. Unnikrishnan’s father to vacate his premises. Clearly not used to such snubs, our Comrade challenged a dog to visit the martyrs house had it not been for his sacrifice. To which our friends at the rally had this to say –
For my non-Hindi speaking / reading / understanding friends reading this blog, the breaking up of some of the syllables in the Comrades name, especially the part in between the two ‘a’s refers to a certain part of the female anatomy. Comrade still refused to apologise despite being criticised from all quarters. Finally Prakash Karat, the CPI supremo did the apologising.
The poster above summaries most of the blunders made by Indian politicians in the aftermath of the terrorist attacks. It includes RR Patil, the Deputy Chief Minister of Maharashtra saying that such things happen in big cities. In bizarre logic he justified the statement by indirectly saying that he had saved 4,800 people (They came to kill 5,000 we contained the damage to 200). 
All the gentlemen above are however left far behind by the Hon. Shivraj Patil, who has been in stellar form, wearing his incompetence on his sleeve. In what can only be described as shocking, the Home Minister gaily announced the size and time of arrival of the assault team. Later, in an interview after his visit to Mumbai, Mr Patil told the media that the terrorists had left Cama Hospital and the railway station (both terror targets) before he had reached the site. Dear Shivraj, what were you smoking? Did you expect to have tea with the terrorists? Maybe you wanted meaningful intercourse as you indicated when you took charge of the Home Ministry.
It has not just been inaction of the government machinery that has stoked public anger but the foot-in-mouth statements made by politicians in the wake of the terror attacks, which spanned from inept to rude and from insensitive to shocking. Some creative minds have channelized this energy into some interesting posters which have been photographed by an anonymous person and which found their way to my inbox.
The Communists fell first. Comrade Achutanandan, the Kerala Chief Minister, was asked by slain soldier Maj. Unnikrishnan’s father to vacate his premises. Clearly not used to such snubs, our Comrade challenged a dog to visit the martyrs house had it not been for his sacrifice. To which our friends at the rally had this to say –
For my non-Hindi speaking / reading / understanding friends reading this blog, the breaking up of some of the syllables in the Comrades name, especially the part in between the two ‘a’s refers to a certain part of the female anatomy. Comrade still refused to apologise despite being criticised from all quarters. Finally Prakash Karat, the CPI supremo did the apologising.Others (below) indicated that they prefer the canine.
Next caught with his pants down was Maharashtra Chief Minister, the Hon. Vilasrao Deshmukh, who invited Ram Gopal Verma (RGV), a Bollywood film-maker and his actor son, Ritiesh Deshmukh in his official entourage to survey the damage done to the Taj. RGV has in the past made movies like RGV ki Aag which you can review here. (Note - RGV ki Aag flopped at the Box Office). The move surprised even Bollywood. That resulted in this response –
And then from a respectable name, the meaning of which is analogous to ‘landlord’ his name was adapted, with a few nifty changes, and captured in the font of RGV’s previous movie posters, a name that means ‘a national fool!’ 
Mukhtar Abbas Naqvi, the BJP Vice-President, had probably never interacted with the urban, educated and presentable woman before. When he saw some of them in media coverage deriding politicians he ejaculated (pun intended) ‘Some women wearing powder and lipstick have taken to the streets of Mumbai …” No specific interesting poster on this, but the remark drew the ire of women parliamentarians, some even from his own party.
The poster above summaries most of the blunders made by Indian politicians in the aftermath of the terrorist attacks. It includes RR Patil, the Deputy Chief Minister of Maharashtra saying that such things happen in big cities. In bizarre logic he justified the statement by indirectly saying that he had saved 4,800 people (They came to kill 5,000 we contained the damage to 200). And this man was conspicuous by his absence – Raj Thakeray of the MNS did not mind as the NSG, which had North Indian representation, including the slain Gajendra Singh - who lost his life in the operation - protected our nation. But then stooping low as their wont, the MNS put up a poster outside Malad railway station clearly mentioning that three ‘Marathi’ top cops, Karkare, Kamte and Salaskar had gave up their life to protect outsiders and foreigners.
All the gentlemen above are however left far behind by the Hon. Shivraj Patil, who has been in stellar form, wearing his incompetence on his sleeve. In what can only be described as shocking, the Home Minister gaily announced the size and time of arrival of the assault team. Later, in an interview after his visit to Mumbai, Mr Patil told the media that the terrorists had left Cama Hospital and the railway station (both terror targets) before he had reached the site. Dear Shivraj, what were you smoking? Did you expect to have tea with the terrorists? Maybe you wanted meaningful intercourse as you indicated when you took charge of the Home Ministry.
December 4, 2008
Of root causes and a change of perception ...
It was 10 pm on 26th November. I was at my office, working on the business plan of an opportunity we are currently evaluating. For some reason the financials were not stacking up. Frustrated I decided to call it a day. I was to travel early next morning and had to pack. I plugged my earphones and listening to some of my favorite tracks, made my way to Churchgate station.
Minutes earlier, not too far away CST, Leopold Café and the Taj Hotel were attacked. For a good five minutes I was on one of the two roads that connect these locations to the Oberoi-Trident. A few minutes later the Oberoi was under siege. In hindsight, there was a good probability of the terrorists using the road since it has relatively less traffic. It gives me shivers to think that the walk could have been my last. I was of course, oblivious to the developments.
A lot has changed for me when I reached home and took in the full impact of the attacks. I have never been prejudiced towards Pakistan and have always attributed the misgivings between India and Pakistan to a narrow minded leadership way back in 1947-48. When two men who both wanted to become Prime Minister of a young republic resorted to religion to resolve their issues. Events, however strong, in other parts of the country did not change that. OK, Kargil veered me a bit to the other side but I was optimistic that things could be worked out. But last week was the last straw. The scale and impact of the attack has been horrific. The thought that I could have been a target has been unnerving. And the heap of evidence against Pak has been too hard to ignore.
In a thought that surprised me as well, I don’t think war is a bad option. It is a sad day when the educated and the objective crowd start thinking of war. It means that solutions are extremely limited and that the inevitable is necessary. Apart from just plain evidence, this time a long time Pakistan ally, the US has made statements like ‘India has the sovereign right to protect itself’ and ‘Pakistan is an international migraine’. Strong statements if you look at the past US-Pak relations.
It also makes me wonder why does most of world terror have an Islamic face? What makes Islam a favorite exploitation ground for religious extremists? Why is this religion repeatedly and consistently used out of context compared to other religions? I have Muslim friends and they are good and righteous people. If their faith had conflicting ideas with them being good human beings they would not be Muslim; which says that it’s definitely not the religion. Is it the method of delivery? Are there too many middle men subverting the message of the Prophet and mixing it with economic and political themes? Other causes do not seem to fit in – Education? There are poorly educated nations in South America and Africa as well. Resourcefulness? Prominent sponsors of the Middle East are so wealthy it stinks. Economic well-being? Ditto.
Which brings us back to political agendas. Though it seems the most plausible, it will be interesting to know.
Minutes earlier, not too far away CST, Leopold Café and the Taj Hotel were attacked. For a good five minutes I was on one of the two roads that connect these locations to the Oberoi-Trident. A few minutes later the Oberoi was under siege. In hindsight, there was a good probability of the terrorists using the road since it has relatively less traffic. It gives me shivers to think that the walk could have been my last. I was of course, oblivious to the developments.
A lot has changed for me when I reached home and took in the full impact of the attacks. I have never been prejudiced towards Pakistan and have always attributed the misgivings between India and Pakistan to a narrow minded leadership way back in 1947-48. When two men who both wanted to become Prime Minister of a young republic resorted to religion to resolve their issues. Events, however strong, in other parts of the country did not change that. OK, Kargil veered me a bit to the other side but I was optimistic that things could be worked out. But last week was the last straw. The scale and impact of the attack has been horrific. The thought that I could have been a target has been unnerving. And the heap of evidence against Pak has been too hard to ignore.
In a thought that surprised me as well, I don’t think war is a bad option. It is a sad day when the educated and the objective crowd start thinking of war. It means that solutions are extremely limited and that the inevitable is necessary. Apart from just plain evidence, this time a long time Pakistan ally, the US has made statements like ‘India has the sovereign right to protect itself’ and ‘Pakistan is an international migraine’. Strong statements if you look at the past US-Pak relations.
It also makes me wonder why does most of world terror have an Islamic face? What makes Islam a favorite exploitation ground for religious extremists? Why is this religion repeatedly and consistently used out of context compared to other religions? I have Muslim friends and they are good and righteous people. If their faith had conflicting ideas with them being good human beings they would not be Muslim; which says that it’s definitely not the religion. Is it the method of delivery? Are there too many middle men subverting the message of the Prophet and mixing it with economic and political themes? Other causes do not seem to fit in – Education? There are poorly educated nations in South America and Africa as well. Resourcefulness? Prominent sponsors of the Middle East are so wealthy it stinks. Economic well-being? Ditto.
Which brings us back to political agendas. Though it seems the most plausible, it will be interesting to know.
August 21, 2008
Beauty and the Beast
For the past week I have been living at Mumbai Airport. In my spare time I am rushing for meetings across the length and breadth of India, drinking coffee to stay awake, rushing back to airports, visiting a place I used to call home for a quick shuteye and meeting the Nose of India.
If things described above aren’t bad enough to screw with your body clock there is nothing more jarring to the senses than a young bald man in a ghoulish wig. The man at security in front of me was puny, short, nondescript and was sulking. Maybe he’s not a morning person and thankfully there wasn’t a mike, cap or vest in sight.
As if to make up for the disturbing imagery earlier, God presented me a seat in the business section with a seat in the same row as Meow! Well I don’t know what you think of Jaane Tu … and frankly I thought the movie sucked. But this young damsel is attractive and I was just warming up to tell her that we shared something deep (We apparently share the same surname) and that such things are obviously indicative of long term synergies. Alas a matronly woman filled the empty seat that separated us – could have been Mommie, Chaperone or bodyguard – I don’t know.
Ms D’Souza, all of 21 years, curled up and slept well whilst I analyzed financial models … my head turning ever so often to check if a different kind of model a seat away would wake up and observe her surroundings with some interest. I toyed with the Handsome-Prince-with-a-kiss-that-brings-back-maidens-from-comatose-states fantasy a bit when the plane hit the tarmac. In minutes we were separated and I found myself at yet another airport.
Things in life balance out. High pitched nasal tones balance pretty upcoming actresses. The beast balances beauty. Maybe I should become a beast.
If things described above aren’t bad enough to screw with your body clock there is nothing more jarring to the senses than a young bald man in a ghoulish wig. The man at security in front of me was puny, short, nondescript and was sulking. Maybe he’s not a morning person and thankfully there wasn’t a mike, cap or vest in sight.
As if to make up for the disturbing imagery earlier, God presented me a seat in the business section with a seat in the same row as Meow! Well I don’t know what you think of Jaane Tu … and frankly I thought the movie sucked. But this young damsel is attractive and I was just warming up to tell her that we shared something deep (We apparently share the same surname) and that such things are obviously indicative of long term synergies. Alas a matronly woman filled the empty seat that separated us – could have been Mommie, Chaperone or bodyguard – I don’t know.
Ms D’Souza, all of 21 years, curled up and slept well whilst I analyzed financial models … my head turning ever so often to check if a different kind of model a seat away would wake up and observe her surroundings with some interest. I toyed with the Handsome-Prince-with-a-kiss-that-brings-back-maidens-from-comatose-states fantasy a bit when the plane hit the tarmac. In minutes we were separated and I found myself at yet another airport.
Things in life balance out. High pitched nasal tones balance pretty upcoming actresses. The beast balances beauty. Maybe I should become a beast.
August 15, 2008
Genius
Are we born intelligent or can genius be created? How do people achieve Nirvana? What is that sixth sense? I had a chat with a colleague sometime back and we agreed to the following conclusion - 'THAT genius is Thought that has travelled extensively, created gazillions of permutations, evaluated the results and wired one's brain to think along these terms'
In simpler terms, it's all about pattern recognition. Most people I consider genius' have devoted considerable time to this pursuit. When they spent all their time on stuff they liked to do they were, at some subconcious level, storing patterns and creating natural software to evaluate them. Of course, passion and strong grasping power helps a bit and also limits us - one can't be passionate about multiple things.
So with all this gyaan that I am freely disbursing why am I not a genius? Well efforts are on and progress is slow, but frankly I'm just plain lazy to educate myself. I am too busy working that I am cheating myself of intellectual energy. Aren't we all?
In simpler terms, it's all about pattern recognition. Most people I consider genius' have devoted considerable time to this pursuit. When they spent all their time on stuff they liked to do they were, at some subconcious level, storing patterns and creating natural software to evaluate them. Of course, passion and strong grasping power helps a bit and also limits us - one can't be passionate about multiple things.
So with all this gyaan that I am freely disbursing why am I not a genius? Well efforts are on and progress is slow, but frankly I'm just plain lazy to educate myself. I am too busy working that I am cheating myself of intellectual energy. Aren't we all?
June 1, 2008
Gloomy May
May has finally ended. It was a bad month bringing bad news with amazing regularity that at one point I was expecting bad news when the cycle said it was due.
Two tragic accidents and passing away of young people my age ... A middle aged heart attack case ... A little girl losing her mother ... News of a friend with a disease that is in advanced stages ... A celeb classmate who drowned during a picnic ... An old lady who is related in a longish sort of way ... And a freak accident on my way to work when four unfortunate people fell in between bogies while boarding the 8:08 am Malad local ... (Thankfully they were saved in time)
It's a gloomy feeling to know that the same could happen to you. The kind of lives we lead these days - stressing our bodies in the name of competition, eating junk and when we eat healthy food we eat at wrong times; liberally using chemicals and intaking toxins in pesticide 'cleaned' food, pollution and wot not - I won't be surprised if my generation burns out when they reach forty, maybe thirty five.
On a philosophical note, I got a quote which was made by George Costanza of Sienfeld. It goes like this -
"The most unfair thing about life is the way it ends. I mean life is tough , it takes up a lot of your time and what do you get at the end of it ? A death. What's that, A Bonus?!? I think the life cycle is all back wards. You should die first , get it out of the way. Then you go live in an old age home and get kicked out for being too healthy.Go collect your pension, then, when you start work. You get a gold watch on your first day. You work for forty years before you are young enough to enjoy your retirement..You drink alcohol , you party, and get ready for high school. You go to primary school ,you become a kid, you play, you have no responsibilities. You become a little baby, go back ,spend your last 9 months floating with luxuries like central heating, spa, room service on tap, then you finish off as an orgasm!! Amen"
RIP dear friends. I may have not known you very well but I'm sure you enriched the lives of everyone around you. Shine on you crazy diamonds
Two tragic accidents and passing away of young people my age ... A middle aged heart attack case ... A little girl losing her mother ... News of a friend with a disease that is in advanced stages ... A celeb classmate who drowned during a picnic ... An old lady who is related in a longish sort of way ... And a freak accident on my way to work when four unfortunate people fell in between bogies while boarding the 8:08 am Malad local ... (Thankfully they were saved in time)
It's a gloomy feeling to know that the same could happen to you. The kind of lives we lead these days - stressing our bodies in the name of competition, eating junk and when we eat healthy food we eat at wrong times; liberally using chemicals and intaking toxins in pesticide 'cleaned' food, pollution and wot not - I won't be surprised if my generation burns out when they reach forty, maybe thirty five.
On a philosophical note, I got a quote which was made by George Costanza of Sienfeld. It goes like this -
"The most unfair thing about life is the way it ends. I mean life is tough , it takes up a lot of your time and what do you get at the end of it ? A death. What's that, A Bonus?!? I think the life cycle is all back wards. You should die first , get it out of the way. Then you go live in an old age home and get kicked out for being too healthy.Go collect your pension, then, when you start work. You get a gold watch on your first day. You work for forty years before you are young enough to enjoy your retirement..You drink alcohol , you party, and get ready for high school. You go to primary school ,you become a kid, you play, you have no responsibilities. You become a little baby, go back ,spend your last 9 months floating with luxuries like central heating, spa, room service on tap, then you finish off as an orgasm!! Amen"
RIP dear friends. I may have not known you very well but I'm sure you enriched the lives of everyone around you. Shine on you crazy diamonds
22nd June 2008:
PS: Systematic Confusion has more time and energy now that his exams are over. He has a much better take on the same subject here
May 6, 2008
Investing in the IPL: Whom would you go with?
The IPL is not about cricket, big sixes or cheerleaders. Instead its about more mundane things like TRP ratings, media spends and a big bet on the regulations in the broadcasting sector. But I could be wrong.
Because Mr. Reliable thinks its project execution by one key man with loads of serfs (precisely the way he runs his businesses) Unfortunately his key man was injured and Mumbai looks more confused than sheep without a shepherd. Mr. Raja Fisher thinks its entertainment and ended up selecting the cheerleaders leaving Dravid to select a T(est)20 team. King Khan's Lal Mirch Manoranjan thinks its the movies ... which is why he's paid each of his players deserving (Ishant, Gayle, McCullum) or underserving (Saurav, Ponting, Akhtar, Agarkar) like movie stars. The wage bill of the Knight Riders is the highest of the eight at $6.2 million. The Deccan Chronicle thinks its all about big sixes which is why they packed their side with so many pinchhitters like Gilchrist, Symonds, Afridi, Sharma, Gibbs and Styris that they forgot to select bowlers. To their credit Delhi and Chennai have a well balanced side. But then they have also overpaid for their respective licenses. Given that all the above teams have superstar players they will also have to increase the player fees significantly next year which will put more strain on the team finances.
But the man who has got it all right is the man who understands TRP ratings, media spends and maybe has a sneak preview of what may unfold in Indian broadcasting. That is Lachlan Murdoch of Emerging Media and son of media mogul Rupert Murdoch who owns the Jaipur franchise - A man who understands that break even is more important than glam dolls. He went shopping for decent players with a budget of $3.3 million, half of what Mohali and Kolkata paid; a license that was available cheap since nobody wanted the relatively small Sawai Mansingh Stadium where gate revenues would hardly amount to anything and one star player whom all the boys would look up to as captain, coach and master. The sole blemish being Kaif who I guess would have had a better career in athletics than cricket.
My gut feel, and I again say I may be wrong, is that Murdoch has bet on two things - one that the IPL opens more franchisees - which means more matches to be played but more importantly that broadcasting regulations in India are at an inflection point. Today, 10-15% of subscribers of cable TV networks are reported which means that 85% of people who watch the IPL fund the mafia (which owns the cable networks). If somehow in the future regulations were to change, these monies would flow to the broadcaster, which after Lalit Modi and his BCCI friends take their cut, would flow down equally to all franchisees. There is a performance bonus too! A portion of what flows down to the franchisees (20%) is proportional to the points scored. Now the more matches you play the more people watch (given that we are a cricket crazy country), the more TRP ratings are, the more media spends are (considering that there is 60% less advertising time than a one-day match hence more premium), the more broadcasters make and if Murdoch gets the regulatory call right, he breaks-even faster than anyone in the league irrespective of whether his team wins or loses considering his threadbare budget. Which then allows him to be the first one to make decent transfers since he would have recovered his investment.
There could also be more than just numbers here. My guess is that Murdoch thinks the IPL is a much safer bet to get evening prime-time in Indian households than the content on Star TV. Why go through the hassles of creating content, making directors, producers, actors and spot boys rush through the rigamarole of soap operas and reality shows when you have the biggest reality show all served on a platter. Where people have overpaid (Mumbai and Bangalore licenses were bought for a staggering $111 million. Players fees another $6 million) Murdoch has made a $70 million investment everything included. The synergies he gets far outrival all other teams. The great perfornance of the team is just an icing on the cake - Kicker as is called in the investing world.
Jaipur was the most financially viable side before the tournament started primarily because they didn't play the auction like it was played; rather they made an investment. As my Finance Prof in MDI said, 'The only guy who makes money in an auction is the auctioneer.' My money is firmly behind Jaipur. But don't listen to me. As I have said umpteen times - I could be wrong ;)
PS: I do not doubt Mr. Reliable's and Mr. Raja Fisher's business acumen. However, in an interesting twist to my hypotheses above is the fact that came to light when I was discussing soccer clubs. It seems that businessmen with loads of unaccounted cash indulge themselves in club ownerships. Not to suggest that the two gentlemen above are enagaged in such activity. I do not care if they do or not. But an interesting thought nonetheless.
PPS: Names have been changed on request!
Because Mr. Reliable thinks its project execution by one key man with loads of serfs (precisely the way he runs his businesses) Unfortunately his key man was injured and Mumbai looks more confused than sheep without a shepherd. Mr. Raja Fisher thinks its entertainment and ended up selecting the cheerleaders leaving Dravid to select a T(est)20 team. King Khan's Lal Mirch Manoranjan thinks its the movies ... which is why he's paid each of his players deserving (Ishant, Gayle, McCullum) or underserving (Saurav, Ponting, Akhtar, Agarkar) like movie stars. The wage bill of the Knight Riders is the highest of the eight at $6.2 million. The Deccan Chronicle thinks its all about big sixes which is why they packed their side with so many pinchhitters like Gilchrist, Symonds, Afridi, Sharma, Gibbs and Styris that they forgot to select bowlers. To their credit Delhi and Chennai have a well balanced side. But then they have also overpaid for their respective licenses. Given that all the above teams have superstar players they will also have to increase the player fees significantly next year which will put more strain on the team finances.
But the man who has got it all right is the man who understands TRP ratings, media spends and maybe has a sneak preview of what may unfold in Indian broadcasting. That is Lachlan Murdoch of Emerging Media and son of media mogul Rupert Murdoch who owns the Jaipur franchise - A man who understands that break even is more important than glam dolls. He went shopping for decent players with a budget of $3.3 million, half of what Mohali and Kolkata paid; a license that was available cheap since nobody wanted the relatively small Sawai Mansingh Stadium where gate revenues would hardly amount to anything and one star player whom all the boys would look up to as captain, coach and master. The sole blemish being Kaif who I guess would have had a better career in athletics than cricket.
My gut feel, and I again say I may be wrong, is that Murdoch has bet on two things - one that the IPL opens more franchisees - which means more matches to be played but more importantly that broadcasting regulations in India are at an inflection point. Today, 10-15% of subscribers of cable TV networks are reported which means that 85% of people who watch the IPL fund the mafia (which owns the cable networks). If somehow in the future regulations were to change, these monies would flow to the broadcaster, which after Lalit Modi and his BCCI friends take their cut, would flow down equally to all franchisees. There is a performance bonus too! A portion of what flows down to the franchisees (20%) is proportional to the points scored. Now the more matches you play the more people watch (given that we are a cricket crazy country), the more TRP ratings are, the more media spends are (considering that there is 60% less advertising time than a one-day match hence more premium), the more broadcasters make and if Murdoch gets the regulatory call right, he breaks-even faster than anyone in the league irrespective of whether his team wins or loses considering his threadbare budget. Which then allows him to be the first one to make decent transfers since he would have recovered his investment.
There could also be more than just numbers here. My guess is that Murdoch thinks the IPL is a much safer bet to get evening prime-time in Indian households than the content on Star TV. Why go through the hassles of creating content, making directors, producers, actors and spot boys rush through the rigamarole of soap operas and reality shows when you have the biggest reality show all served on a platter. Where people have overpaid (Mumbai and Bangalore licenses were bought for a staggering $111 million. Players fees another $6 million) Murdoch has made a $70 million investment everything included. The synergies he gets far outrival all other teams. The great perfornance of the team is just an icing on the cake - Kicker as is called in the investing world.
Jaipur was the most financially viable side before the tournament started primarily because they didn't play the auction like it was played; rather they made an investment. As my Finance Prof in MDI said, 'The only guy who makes money in an auction is the auctioneer.' My money is firmly behind Jaipur. But don't listen to me. As I have said umpteen times - I could be wrong ;)
PS: I do not doubt Mr. Reliable's and Mr. Raja Fisher's business acumen. However, in an interesting twist to my hypotheses above is the fact that came to light when I was discussing soccer clubs. It seems that businessmen with loads of unaccounted cash indulge themselves in club ownerships. Not to suggest that the two gentlemen above are enagaged in such activity. I do not care if they do or not. But an interesting thought nonetheless.
PPS: Names have been changed on request!
February 12, 2008
The Coarse Fabric
This doesn't seem like Mumbai. A city which has always been in a fixed temperature range since as long as I remember, has suddenly become cold in more ways than one. Mercury apart, it has also lost its heart. It's sad to see people in a secular, free country run for their lives, rushing to take the first train North of the Vindhyas. Their only mistake being that they were 30 years late in life. Can you blame them?
Mumbai is what it is because it is the melting pot of India. People come here with dreams in their eyes and with hard work, perseverance and a stubborn belief usually achieve it. The city is entrepreneurial because of migrants who came here many years ago. Gujaratis, Marwaris, South Indians, Punjabis, Sindhis, all of them have shaped Mumbai. My grandfather came here two generations ago and set up a paan-beedi shop at Lower Parel. He stayed above the shop with his wife and five children. He was a migrant. My uncles came here some 50 years ago and worked in kitchens and workshops. My family is just one drop in the ocean of Mumbai. Almost everybody I know has come here and has made Mumbai their home. And Mumbai in return has welcomed them and added different colours to her personality.
Which makes me come to the next point of the rabblerousers that migrants don't enrich Mumbai. Enrichment is a long process. It is not fast food. It took two generations for a betel leaf trader to get the first engineer and consequently the first MBA in his family. What if he was evicted when the Tiger came singing 'Lungi hatao, Pungi bajao'? I guess we would all lose.
Then the entire episode is inconsistent. On one hand unemployed North Indians are forced out. The salaried class against which Maharashtra's New Construction Army actually has an issue with; since they have caused the manoos his job loss; is left alone. Probably because the manoos and the bayka causing the havoc is permanently employed as cook, bai or driver with the Verma, the Singh and the Thakur. If that lacked consistency, then there are expats who are left alone. Well these guys spend dollars at pubs where the manoos is the bouncer or at the gym where the manoos trains him. You Northie. Where do you spend your last rupee? It goes to your village where your family can now have a pukka roof. But since I don't get any of that New Construction pie I'm pissed.
Mumbai creaks under loads it wasn't designed for because the design is outdated. It needs to grow and for that it needs better infrastructure and more planned townships and central business districts. (BKC is a start, I hope Navi Mumbai takes off). Lets leave the betel leaf traders, bhel-puri wallas and the majdoors alone. They make up the coarse fabric that balances the silk. Maybe their grandsons will one day be a part of a team that finances the very infrastructure we need.
Mumbai is what it is because it is the melting pot of India. People come here with dreams in their eyes and with hard work, perseverance and a stubborn belief usually achieve it. The city is entrepreneurial because of migrants who came here many years ago. Gujaratis, Marwaris, South Indians, Punjabis, Sindhis, all of them have shaped Mumbai. My grandfather came here two generations ago and set up a paan-beedi shop at Lower Parel. He stayed above the shop with his wife and five children. He was a migrant. My uncles came here some 50 years ago and worked in kitchens and workshops. My family is just one drop in the ocean of Mumbai. Almost everybody I know has come here and has made Mumbai their home. And Mumbai in return has welcomed them and added different colours to her personality.
Which makes me come to the next point of the rabblerousers that migrants don't enrich Mumbai. Enrichment is a long process. It is not fast food. It took two generations for a betel leaf trader to get the first engineer and consequently the first MBA in his family. What if he was evicted when the Tiger came singing 'Lungi hatao, Pungi bajao'? I guess we would all lose.
Then the entire episode is inconsistent. On one hand unemployed North Indians are forced out. The salaried class against which Maharashtra's New Construction Army actually has an issue with; since they have caused the manoos his job loss; is left alone. Probably because the manoos and the bayka causing the havoc is permanently employed as cook, bai or driver with the Verma, the Singh and the Thakur. If that lacked consistency, then there are expats who are left alone. Well these guys spend dollars at pubs where the manoos is the bouncer or at the gym where the manoos trains him. You Northie. Where do you spend your last rupee? It goes to your village where your family can now have a pukka roof. But since I don't get any of that New Construction pie I'm pissed.
Mumbai creaks under loads it wasn't designed for because the design is outdated. It needs to grow and for that it needs better infrastructure and more planned townships and central business districts. (BKC is a start, I hope Navi Mumbai takes off). Lets leave the betel leaf traders, bhel-puri wallas and the majdoors alone. They make up the coarse fabric that balances the silk. Maybe their grandsons will one day be a part of a team that finances the very infrastructure we need.
January 24, 2008
Points to ponder
1.The man in the pic alongside is smiling. And why not? The first ever IPO from his fold has managed to mobilise $200 bn. If that number makes you shrug, think about it this way - Thats 20% or 1/5th of the value of all the goods and services provided by our nation (in other words the GDP) this year. And all this in 4 working days. Staggering no?
2.
People haggle like crazy when they buy Rs.50 worth of groceries in the market. They will consult experts in person when they buy electronics worth Rs.5,000. They will make sacrifies and carefully calculate monthly budgets when they pay Rs.500,000 for their childrens education. They will save for years to buy a house worth Rs.5,000,000. Yet when it comes to buying a piece of some company worth some Rs.50,000 crore they rely on stock tips, brokers and speculation. Amazing no?
December 30, 2007
You don't need no graduation
I got this link from Sidin's blog. Apparently some program goes through your blog in like a few nano-seconds and pops up its impression of what kind of people read the trash you type. For a minute a conspiracy theory floated in my head which suggested that a kutty program somewhere did a random match-the-columns routine. (Entirely possible)
Anyway Pseudoforce did OK. We fall in 'High School' readers category. Which is not bad since the Greatest Common Divisor of education of all my friends who read this is above that level. And those, if any, below that level will not know what a blog is or read it anyway. Which means, to read my thoughts you don't need no graduation.
Anyway Pseudoforce did OK. We fall in 'High School' readers category. Which is not bad since the Greatest Common Divisor of education of all my friends who read this is above that level. And those, if any, below that level will not know what a blog is or read it anyway. Which means, to read my thoughts you don't need no graduation.
December 23, 2007
Celebrating India with cognac
Some time last month I had the pleasure of being in the private audience of Prof Ramchandra Guha, noted historical commentator (one of the best we have says abyuthvad) and cricket enthusiast. What struck me apart from the fresh smelling straight-off-the-press, duly authographed tome titled 'India after Gandhi' was the passion of the man and the eloquence with which he presented his case to an audience from different nationalities.
I say he was passionate because I was sitting right in the first row (part reason being that I didnt get a seat at the back, but was grateful later to my twist of fate) and I could literally see the twinkle in the eye and feel the energy with which Prof Guha made his points. I say he was eloquent because he made an assortment of foreigners who had come to celebrate India's economic success realise that they should be instead celebrating India's political success.
Reading his book over the weekend I realised why the man was charged up. It's because India is such an antithesis, its baffling to logic to understand its existence today; and once you get to that line of thought even more baffling to realise that almost a billion people get up every morning and go about their business taking it for granted that India still chugs on regardless of its diversity.
Coming back to the talk at the fabulous Lalitha Mahal in Mysore, Prof Guha went on to explain that inspite of these diversities, and given the odds at any given point in time, its nothing short of a miracle that we have continued to exist as a single democratic sovereign entity. There have been attempts to rule India with an iron fist. Fortunately that hasn't been the case and the secret lies in our diversity. A list of reasons were presented, which according to the Professor is the glue that binds us together. I remember just three. One, our Constitution, which empowers every Indian adult with equal electoral rights. Two, the separation of important guardians of the Constitution like the Judiciary and the Election Commission from the Government and finally the game of cricket. Prof Guha's book also throws light on the horrors of Partition; and the cunning and intrigue on either side of the Border. For someone like me who was born long after Independence, the account made for interesting reading.
Looking back, todays economic boom is largely a byproduct of our political success. Had we broken up after Independence into a clutter of princely states there would not be the large market that drives consumption. Had we not integrated, the resources of the East, the technology of the South, the enterprise of the West and the spirituality of the North would not create the unique dynamite that is India.
I left the lecture feeling extremely patriotic and proud to be Indian. At that moment I just celebrated the concept of India with some vintage cognac (and later on with an assortment of liquor shots!) and forgot all those things about India and Indians that sometimes bugged me, even better, I felt that I could understand why we are the way we are. 'India After Gandhi' is a must read.
I say he was passionate because I was sitting right in the first row (part reason being that I didnt get a seat at the back, but was grateful later to my twist of fate) and I could literally see the twinkle in the eye and feel the energy with which Prof Guha made his points. I say he was eloquent because he made an assortment of foreigners who had come to celebrate India's economic success realise that they should be instead celebrating India's political success.
Reading his book over the weekend I realised why the man was charged up. It's because India is such an antithesis, its baffling to logic to understand its existence today; and once you get to that line of thought even more baffling to realise that almost a billion people get up every morning and go about their business taking it for granted that India still chugs on regardless of its diversity.
Coming back to the talk at the fabulous Lalitha Mahal in Mysore, Prof Guha went on to explain that inspite of these diversities, and given the odds at any given point in time, its nothing short of a miracle that we have continued to exist as a single democratic sovereign entity. There have been attempts to rule India with an iron fist. Fortunately that hasn't been the case and the secret lies in our diversity. A list of reasons were presented, which according to the Professor is the glue that binds us together. I remember just three. One, our Constitution, which empowers every Indian adult with equal electoral rights. Two, the separation of important guardians of the Constitution like the Judiciary and the Election Commission from the Government and finally the game of cricket. Prof Guha's book also throws light on the horrors of Partition; and the cunning and intrigue on either side of the Border. For someone like me who was born long after Independence, the account made for interesting reading.
Looking back, todays economic boom is largely a byproduct of our political success. Had we broken up after Independence into a clutter of princely states there would not be the large market that drives consumption. Had we not integrated, the resources of the East, the technology of the South, the enterprise of the West and the spirituality of the North would not create the unique dynamite that is India.
I left the lecture feeling extremely patriotic and proud to be Indian. At that moment I just celebrated the concept of India with some vintage cognac (and later on with an assortment of liquor shots!) and forgot all those things about India and Indians that sometimes bugged me, even better, I felt that I could understand why we are the way we are. 'India After Gandhi' is a must read.
October 27, 2007
A $15 billion toy
In a fit of what seems to me to be utter desparation, Microsoft paid top dollar, $240 million to be precise, for 1.6% of a bit of code which enables jobless people who want to pass their time (not being judgemental here, we need to do it at some point of the day!) fill up gigabytes on the web. The entity in question is Facebook which has become a rage for the range of creative ways to network socially. I spend some time on it every now and then too. But if I knew that what I was fooling around with was a $15 billion toy, I would probably treat every word I typed like I was etching on a diamond. Spoilt brats we all are. Even so the techies at Silicon Valley who think that Moore's law applies to valuations as well.
To get a sense of why I'm so worked up lets do a little analysis here. (by the way $15 billion is Rs.60,000 crore). Bharat Petroleum is a respectable Indian company. Not the one always in the news but still walk the length and breadth of India and you will see petrol pumps, oil storage tanks the sizes of stadiums, refineries, trucks at airports ... in short a huge asset base which you and I can see. The market capitalisation of BPCL at the close of trading yesterday was Rs.13,000 odd crore. Ditto Hindustan Petroleum which at yesterday's close was worth Rs.8,000 odd crore. Siemens India, my previous employer, with concrete orders booked with extremely creditworthy clients over the next few years was worth Rs.29,000 odd crore. My point is that with tangible assets, orders, customers and employees these behemoths of Indian industry are collectively worth Rs.50,000 crore, a wee bit short Rs.10,000 crore or $2.5 billion than Facebook. Something tells me that Facebook might be worth more than the GDP of many
African countries.
African countries.
My valuations based on yesterdays clsoing market price maybe too simplistic. There is a lot more to cover and account for before I put a number to the companies I have mentioned. But even then you can't pay $240 mn for a wee 1.6% for software you cant see anticipating that an 'x' percentage of the world's population will register, see your ads, click on it and make a purchase. There are too many ifs and buts in Facebooks valuation which if you remember correctly was what caused the tech meltdown 7 years ago.
To be fair to Facebook, it could be the case that the deal is structured. Maybe a significant amount of that equity is mezzanine (which is not the same as the shares traded on the market). Part of it could be a corporate loan and it slipped the Microsoft spokesperson. It could be that the guy typing the Press Release missed the decimal point courtesy some-plants-who-shall-not-be-named. ($1.5 billion is also expensive but given that its the tech industry and they have a history of such fallacies, I'll understand.) Maybe the days to come will throw some more light on the transaction.
I never understood tech. Stood far away from it during my engineering days as well. I guess its an industry I'll never understand and this proves it. I'm much better off funding infrastructure projects, things I can see, touch and feel. I wonder what Warren Buffet would say though? It would be nice to hear him wishing Microsoft all the best!
October 15, 2007
Corporate Fraud!
Having spent some time on Marketing in a BSchool and after going through the jargon that marketeers seem to pull out of their hats as frequently as Emran Hashmi's onscreen escapades, I have come to believe that there is no better way to con people into paying more or using more than what they would want than to play some Marketing jazz.
Dilbert feels the same! Marketeers! What do you have to say? ;)
Courtesy: Economic Times
October 12, 2007
SEZ Update
43 days after I made a few suggestions (about people displaced by SEZ land sharing the profits with the developer) to resolve the SEZ controversy in India, it looks like someone is listening. The National Policy on Rehabilitation and Resettlement of 2007, provides for structured solutions to help those displaced by SEZs. Relevant portions of text are reproduced here (Source: rediff)
"The new policy seeks to make those entitled for compensation stakeholders in development by allowing them to take up to 20 per cent of the amount in the form of shares if the acquiring entity is authorised to issue these instruments."
"The policy discourages speculative transactions of land acquired for public purposes. As a relief for developers, 30 per cent land can be compulsorily acquired by states for the promoters while the rest has to be bought by them."
"Reliance Industries which is in process of acquiring land for its mega SEZs welcomed the policy. "The policy will boost the industrial development as it clearly defines the land acquisition rules," a Reliance spokesman said."
Which means that the inhabitants of land notified as SEZ land will be able to share in the upside, if any, from the land. That should make them feel much better, and less jealous (refer to the italiced note at the end of this post) of capitalistic developers.
My only concern being will these inhabitants understand the complex finance behind it all? How is this process made to look fair to all parties? How will the rabble-rousers in political circles, who thrive on conflict, look at their golden goose being neutralised, react? Watch this space ... pour in your thoughts if any.
"The new policy seeks to make those entitled for compensation stakeholders in development by allowing them to take up to 20 per cent of the amount in the form of shares if the acquiring entity is authorised to issue these instruments."
"The policy discourages speculative transactions of land acquired for public purposes. As a relief for developers, 30 per cent land can be compulsorily acquired by states for the promoters while the rest has to be bought by them."
"Reliance Industries which is in process of acquiring land for its mega SEZs welcomed the policy. "The policy will boost the industrial development as it clearly defines the land acquisition rules," a Reliance spokesman said."
Which means that the inhabitants of land notified as SEZ land will be able to share in the upside, if any, from the land. That should make them feel much better, and less jealous (refer to the italiced note at the end of this post) of capitalistic developers.
My only concern being will these inhabitants understand the complex finance behind it all? How is this process made to look fair to all parties? How will the rabble-rousers in political circles, who thrive on conflict, look at their golden goose being neutralised, react? Watch this space ... pour in your thoughts if any.
September 26, 2007
Over Optimism versus Reality
Are we an overly optimistic people? The Sensex is climbing new peaks like a sprightly mountain goat, gaining 1000 points in a week; the rupee trades at 39 to the dollar as we speak and in these merry times if you have a surname which is an anagram for 'infrastructure' you can raise a billion dollars no questions asked. Travel by the local trains (in the First Class ... the conversations in the Second Class are an assortment of desi rugby jokes) and you will hear the sophisticated executive types waxing eloquent on the Indian economy.
Not so says the Planning Commission. In an article which paints a grim picture by describing
the situation as 'pressing panic buttons' we are told that to keep the bubbly flowing we need lots of moolah, $40 bn to be exact, for the current 11th Five Year Plan. Various agencies have made estimates ranging from $350 bn to $500 bn for our infrastructure growth requirements. And with every passing year, prices going northwards, these estimates grow for every project that hasn't taken off yet.
Well there have been deals like this and almost every fund house worth its name has launched an infrastructure focused fund. Private Equity players across the world have also dedicated billions of dollars to the India story; but the action ends right there with the word 'dedicated'. Dedicated does not mean disbursal and disbursal does not happen because it is difficult to find good assets (read: projects) that will give returns which these money czars expect.
Projects that offer high returns like airport modernisation, supply chain logistics, telecoms, etc have been lapped up. What are left are the low return projects like power and roads and virgin territories like renewable fuels. There are a million projects waiting to be launched but investors are searching for the elusive asset that give returns in line with their expectations. Unfortunately, the money chasing these assets will cause valuations to sky-rocket and those who moved in first will make a quick buck. Those who followed and those who will follow may make money. Small investors, as is their wont, will rush in when the floodgates are about to open and will be blown away in the deluge. (Digression: The commies will then blame capitalism for the pains of the common man)
Does that mean the tragic end to our fairy tale economy. Definitely not. Infrastructure projects can be more attractive if they are not politicised. Power for example is more an election issue than an economy issue. Will politicians and bureaucrats ever realise? If they do then maybe the capital kings will loosen their purse strings. Maybe dedication will realise disbursement. Maybe this rant will be inconsequential.
Not so says the Planning Commission. In an article which paints a grim picture by describing
the situation as 'pressing panic buttons' we are told that to keep the bubbly flowing we need lots of moolah, $40 bn to be exact, for the current 11th Five Year Plan. Various agencies have made estimates ranging from $350 bn to $500 bn for our infrastructure growth requirements. And with every passing year, prices going northwards, these estimates grow for every project that hasn't taken off yet.
Well there have been deals like this and almost every fund house worth its name has launched an infrastructure focused fund. Private Equity players across the world have also dedicated billions of dollars to the India story; but the action ends right there with the word 'dedicated'. Dedicated does not mean disbursal and disbursal does not happen because it is difficult to find good assets (read: projects) that will give returns which these money czars expect.
Projects that offer high returns like airport modernisation, supply chain logistics, telecoms, etc have been lapped up. What are left are the low return projects like power and roads and virgin territories like renewable fuels. There are a million projects waiting to be launched but investors are searching for the elusive asset that give returns in line with their expectations. Unfortunately, the money chasing these assets will cause valuations to sky-rocket and those who moved in first will make a quick buck. Those who followed and those who will follow may make money. Small investors, as is their wont, will rush in when the floodgates are about to open and will be blown away in the deluge. (Digression: The commies will then blame capitalism for the pains of the common man)
Does that mean the tragic end to our fairy tale economy. Definitely not. Infrastructure projects can be more attractive if they are not politicised. Power for example is more an election issue than an economy issue. Will politicians and bureaucrats ever realise? If they do then maybe the capital kings will loosen their purse strings. Maybe dedication will realise disbursement. Maybe this rant will be inconsequential.
August 30, 2007
All about Gordon DSouza you wanted to know but were afraid to ask
I have been taking arbit quizzes recently. It's a good stress busting / time wasting / see result-snort kinda thing. And its fun too. The culprit for this criminal waste of office time is a certain site called Brainfall. I got it through the news feed on facebook that serruptitiously tells me what my friends are doing.
So here goes ... Probably it might help you know me better ... or better still you'll know what to get me as a birthday present ;)
If I were a character from FRIENDS ... I would be Rachel Greene
"You are Rachel. You're very selfish and pay great attention to image. Spoiled when you were young, you were always the popular and snobbish kid. Although you hang on to your adolescent attributes, you grow more responsible every year."
Don't get me wrong here. I am not into crossdressing and not interested in a sex change. And I wasn't spoiled when I was young. Rather I toiled day and night like 'Opal Mehta' but I didn't get kissed though I got a life. So there ...
And now a look into my future ...
If I were an Action Hero ... I would be Daniel Craig
"You are Daniel Craig. Bond, James Bond. Keep up your suave style but don't forget to remain a bad ass. Money and romance is more your style, so don't get your hands too dirty. "
Now that says something doesn't it ... I confirm that I am completely and totally 101% DC. Except that I don't have fast cars, don't bed women every 10 minutes, hate techie gizmos, don't work for a detective agency, can't run the parkour, am afraid of dangling from overhead cranes, have never handled a gun, ... you get the drift
And speaking of style ...
If I were a drink ... I would be a Fine Glass of Wine
"You are a Fine Glass of Wine. You are sophisticated and refined, but also complicated and hard to deal with. Not everyone loves you, but those who do swear that you're the coolest thing since sliced bread. ..."
Ahem! Yes that I am (said in that sexy baritone voice of mine ... which you will hear if you call me when I'm having a bloody cold) ... Though Scotch on the rocks is my poison ... I'd settle for wine too ... wink wink .. remember the birthday present hint
Now a look into my past.
If I was in Hogwarts ... I would be in Gryffindor
"The Sorting Hat would put you in Gryffindor. You are bold, passionate, and brave. You have a highly-defined sense of right and wrong, and you are not afraid to speak your mind or fight for what you want."
Ok.
Going on ...
If I were a Harry Potter Character ... I would be ... It's a TIE!!! Part Harry and part Hermoine
"You are part Harry. You're a loyal and courageous friend. You'd do anything to protect the people you love, especially if it'll get you a break from class for a little while"
"You are part Hermione. You're a bookworm always in search of answers. When pressed, however, you can always be counted on to put away the books and help your friends"
Sigh. Those were the glorious school / college days.
And continuing to the most accurate guess by Brainfall till now
If I were to major in college ... I would major in Engineering
"Your major should be Engineering. Logic is your friend. With enough work, you can find a solution to anything... Unless it involves dating or parties."
It's true; and I am extremely proud of my engineering days. Grease ki kasam ... I am a true blue mechie boy .. though I did something in management later on I actually studied for my exams and was an exemplary student during VJ days.
For the darker side of me.
If I were a Disney Villain ... I would be Jafar
"You just want to be big and powerful... Is that so much to ask? I mean, you deserve it."
I AM big ... and powerful ... If you know what I mean ;)
And finally .. some kinky stuff ... which you have to live with if I'm around. Brainfall is not responsible for this. It is from another site
My lucky underwear colour is ... BLUE (Cheerio! Bravo bravo!!)
"You are caring and extroverted. You've made relationships your number one focus, and your lucky blue underwear can bring some balance to them.You thrive in one-on-one situations. You are a good listener and a natural born therapist. Sometimes you let the concerns of others become too important in your life, leading to stress and worry.If you want more balance, put on your blue underpants. They'll help you take care of yourself first."
Well Blue is my colour; and yes, ever since I have worn blue undies my life has been on an upswing (no pun intended!)
Hope these very informative metaphors have given you a much more deeper insight into my personality and my reason for being. Take a chance ... see what you actually are ... Its fun, believe me!
So here goes ... Probably it might help you know me better ... or better still you'll know what to get me as a birthday present ;)
If I were a character from FRIENDS ... I would be Rachel Greene"You are Rachel. You're very selfish and pay great attention to image. Spoiled when you were young, you were always the popular and snobbish kid. Although you hang on to your adolescent attributes, you grow more responsible every year."
Don't get me wrong here. I am not into crossdressing and not interested in a sex change. And I wasn't spoiled when I was young. Rather I toiled day and night like 'Opal Mehta' but I didn't get kissed though I got a life. So there ...
And now a look into my future ...
If I were an Action Hero ... I would be Daniel Craig
"You are Daniel Craig. Bond, James Bond. Keep up your suave style but don't forget to remain a bad ass. Money and romance is more your style, so don't get your hands too dirty. "
Now that says something doesn't it ... I confirm that I am completely and totally 101% DC. Except that I don't have fast cars, don't bed women every 10 minutes, hate techie gizmos, don't work for a detective agency, can't run the parkour, am afraid of dangling from overhead cranes, have never handled a gun, ... you get the drift
And speaking of style ...
If I were a drink ... I would be a Fine Glass of Wine"You are a Fine Glass of Wine. You are sophisticated and refined, but also complicated and hard to deal with. Not everyone loves you, but those who do swear that you're the coolest thing since sliced bread. ..."
Ahem! Yes that I am (said in that sexy baritone voice of mine ... which you will hear if you call me when I'm having a bloody cold) ... Though Scotch on the rocks is my poison ... I'd settle for wine too ... wink wink .. remember the birthday present hint
Now a look into my past.
If I was in Hogwarts ... I would be in Gryffindor
"The Sorting Hat would put you in Gryffindor. You are bold, passionate, and brave. You have a highly-defined sense of right and wrong, and you are not afraid to speak your mind or fight for what you want."
Ok.
Going on ...
If I were a Harry Potter Character ... I would be ... It's a TIE!!! Part Harry and part Hermoine"You are part Harry. You're a loyal and courageous friend. You'd do anything to protect the people you love, especially if it'll get you a break from class for a little while"
"You are part Hermione. You're a bookworm always in search of answers. When pressed, however, you can always be counted on to put away the books and help your friends"
Sigh. Those were the glorious school / college days.
And continuing to the most accurate guess by Brainfall till now
If I were to major in college ... I would major in Engineering
"Your major should be Engineering. Logic is your friend. With enough work, you can find a solution to anything... Unless it involves dating or parties."
It's true; and I am extremely proud of my engineering days. Grease ki kasam ... I am a true blue mechie boy .. though I did something in management later on I actually studied for my exams and was an exemplary student during VJ days.
For the darker side of me.
If I were a Disney Villain ... I would be Jafar"You just want to be big and powerful... Is that so much to ask? I mean, you deserve it."
I AM big ... and powerful ... If you know what I mean ;)
And finally .. some kinky stuff ... which you have to live with if I'm around. Brainfall is not responsible for this. It is from another site
My lucky underwear colour is ... BLUE (Cheerio! Bravo bravo!!)
"You are caring and extroverted. You've made relationships your number one focus, and your lucky blue underwear can bring some balance to them.You thrive in one-on-one situations. You are a good listener and a natural born therapist. Sometimes you let the concerns of others become too important in your life, leading to stress and worry.If you want more balance, put on your blue underpants. They'll help you take care of yourself first."
Well Blue is my colour; and yes, ever since I have worn blue undies my life has been on an upswing (no pun intended!)
Hope these very informative metaphors have given you a much more deeper insight into my personality and my reason for being. Take a chance ... see what you actually are ... Its fun, believe me!
August 29, 2007
Special Economics (of) Zamindari
WARNING: Long-ish :)
A lot has been said about the SEZ controversy. Some call it a land grabbing scam while others have been proposing it as the panacea to our structural problems.
Why are SEZs arousing so much interest? Well one, it’s a bonanza for the developer. Business margins in real estate construction are close to 90% in the case of commercial projects like SEZs. (In the residential housing market they are 100-200%. It is lower in SEZs because money is recovered through leases over longer period of time). Running an SEZ involves just the Property Tax and normal Admin expenses.
So what does the developer do? He puts up 20% of the money, borrows 70% and collects 10% in advance bookings. Since land acquisition would be a difficult and costly affair he creates a separate company (also called a special purpose vehicle, SPV) in which he and a Govt. body are partners. The Govt. body’s sole purpose is to acquire contiguous tracts of land; and land is acquired for a song.
It is because of this that the ‘SEZ Policy’ has attracted investors from all walks of business, and primarily from the IT sector. As IT companies expand, they require more and more place to seat their ever increasing workforce (since seats is the primary driver to secure those multi-million/billion dollar outsourcing / software maintenance contracts). Today the IT and BPO industry are accounting for 70% of the real estate demand and more than 60%-70% of the SEZs are meant for the IT / ITeS industry. The rest are distributed among sectors like biotechnology, gems & jewellery, automobiles and the like.
But do we really need SEZs for IT? In reality, the IT chaps derive very little benefit in being part of an SEZ since the tax incentives they already enjoy and those in an SEZ do not vary much. The only industries that will benefit immensely are those that can integrate their process inside an SEZ (i.e. have most of their business partners from raw material to end product). The ease of flow of business and the added incentive of customs waivers and tax benefits will accelerate their growth. China has adopted this model. Shenzen is a massive 50,000 hectares and I don’t think IT companies are housed inside. India’s largest on the other hand, the Reliance promoted Navi Mumbai and Maha Mumbai are collectively 14,000 hectares. Most of our other SEZs are in the sub 500 range catering mainly to the IT sector.
So do we really need so many SEZs? The answer is yes. We require SEZs for small and medium enterprises; lots of them. The software industry is mature enough to fund their own buildings. Which brings us to the next question: Why all this brouhaha in the media? A few points follow.
One, current land owners are not compensated enough: True. Govt. vehicles ensure that the SEZ land is acquired cheap
Two, we are losing agricultural land: False. Land has to be put to its best use. If we (India’s GDP) gain more by setting up an SEZ rather than agriculture, it makes more sense to go for the former. In this age of global linkages we better not be thinking micro.
Three, Farmers lose their livelihood: Partly answered by point one. Farmers should be compensated adequately for their land and for their occupation. Options include training them in a new skill, ensuring a certain percentage employment in the SEZ, or even a share in the SEZ profits.
Also these three points have been magnified by political parties for vested interests.
I am sure that if the powers that be have a more humane look at the issues in an SEZ, all parties can share in the economic boom, farmer and developer alike. Till that happens though we will be transforming IT companies into real estate banks.
(Afterthought: IF the sides of the table were interchanged and farmers were developers and vice versa what would the reaction be? Would capitalism or socialism triumph? Me says capitalism since man is inherently selfish and 100% so in the matters of money. Which of the hardened socialists would not want to get his stuff at a lower price? If so then there is nothing emotional about this issue, it’s just power politics at play!)
A lot has been said about the SEZ controversy. Some call it a land grabbing scam while others have been proposing it as the panacea to our structural problems.
Why are SEZs arousing so much interest? Well one, it’s a bonanza for the developer. Business margins in real estate construction are close to 90% in the case of commercial projects like SEZs. (In the residential housing market they are 100-200%. It is lower in SEZs because money is recovered through leases over longer period of time). Running an SEZ involves just the Property Tax and normal Admin expenses.
So what does the developer do? He puts up 20% of the money, borrows 70% and collects 10% in advance bookings. Since land acquisition would be a difficult and costly affair he creates a separate company (also called a special purpose vehicle, SPV) in which he and a Govt. body are partners. The Govt. body’s sole purpose is to acquire contiguous tracts of land; and land is acquired for a song.
It is because of this that the ‘SEZ Policy’ has attracted investors from all walks of business, and primarily from the IT sector. As IT companies expand, they require more and more place to seat their ever increasing workforce (since seats is the primary driver to secure those multi-million/billion dollar outsourcing / software maintenance contracts). Today the IT and BPO industry are accounting for 70% of the real estate demand and more than 60%-70% of the SEZs are meant for the IT / ITeS industry. The rest are distributed among sectors like biotechnology, gems & jewellery, automobiles and the like.
But do we really need SEZs for IT? In reality, the IT chaps derive very little benefit in being part of an SEZ since the tax incentives they already enjoy and those in an SEZ do not vary much. The only industries that will benefit immensely are those that can integrate their process inside an SEZ (i.e. have most of their business partners from raw material to end product). The ease of flow of business and the added incentive of customs waivers and tax benefits will accelerate their growth. China has adopted this model. Shenzen is a massive 50,000 hectares and I don’t think IT companies are housed inside. India’s largest on the other hand, the Reliance promoted Navi Mumbai and Maha Mumbai are collectively 14,000 hectares. Most of our other SEZs are in the sub 500 range catering mainly to the IT sector.
So do we really need so many SEZs? The answer is yes. We require SEZs for small and medium enterprises; lots of them. The software industry is mature enough to fund their own buildings. Which brings us to the next question: Why all this brouhaha in the media? A few points follow.
One, current land owners are not compensated enough: True. Govt. vehicles ensure that the SEZ land is acquired cheap
Two, we are losing agricultural land: False. Land has to be put to its best use. If we (India’s GDP) gain more by setting up an SEZ rather than agriculture, it makes more sense to go for the former. In this age of global linkages we better not be thinking micro.
Three, Farmers lose their livelihood: Partly answered by point one. Farmers should be compensated adequately for their land and for their occupation. Options include training them in a new skill, ensuring a certain percentage employment in the SEZ, or even a share in the SEZ profits.
Also these three points have been magnified by political parties for vested interests.
I am sure that if the powers that be have a more humane look at the issues in an SEZ, all parties can share in the economic boom, farmer and developer alike. Till that happens though we will be transforming IT companies into real estate banks.
(Afterthought: IF the sides of the table were interchanged and farmers were developers and vice versa what would the reaction be? Would capitalism or socialism triumph? Me says capitalism since man is inherently selfish and 100% so in the matters of money. Which of the hardened socialists would not want to get his stuff at a lower price? If so then there is nothing emotional about this issue, it’s just power politics at play!)
August 20, 2007
A blurry topic
I might be having a case of myopia. Not that I have lost 'strategic thinking for the long term' You can't lose that after 24 months at a B-School and espcially if you happened to take the courses I took. I'm talking of my eyes. I seem to pass all optician tests with flying colours but alas I have noticed a slight blurriness in light colours which are more than 15 metres or so away.
Reaction # 1: Terrible. Was the thing that first came to my mind. I have always hated any foreign objects on my person. My mom gave up trying to get me wear gold chains when I was little, the aunts (who are nuns) gave up adorning the scapulor round my neck. I also abhored a certain silver chain around my waist as a toddler and I absolutely absolutely detest spectacles.
Reaction # 2: Am I getting old? I can see my once thick black hair thinning out. The hairline has gone half a centimeter or so backwards. And this thought about spectacles being inevitable is scaring me. How bad can it get? And to make matters worse I'm still single
However every dark cloud has a silver lining. A quick search on wikipedia (search: myopia, see: education, intelligence and IQ) says that "The prevalence of myopia increases with level of education and many studies have shown a relationship between myopia and IQ." One psycho (okay psychologist) also reports that myopes have 7-8 IQ points higher than non-myopes. Disclaimers warn that correlation does not imply causation. Point taken. And further the article on Arther Jensen, the good chap who quantified the 7-8 points, has its neutrality and factual accuracy disputed. POOF! Mr Silver Lining. It looks like its gonna rain real heavy
Get ready to see a bespectacled me. Ladies, I know you've always loved those big brown eyes :D. All the more reason for you to now come one step closer ;)
Reaction # 1: Terrible. Was the thing that first came to my mind. I have always hated any foreign objects on my person. My mom gave up trying to get me wear gold chains when I was little, the aunts (who are nuns) gave up adorning the scapulor round my neck. I also abhored a certain silver chain around my waist as a toddler and I absolutely absolutely detest spectacles.
Reaction # 2: Am I getting old? I can see my once thick black hair thinning out. The hairline has gone half a centimeter or so backwards. And this thought about spectacles being inevitable is scaring me. How bad can it get? And to make matters worse I'm still single
However every dark cloud has a silver lining. A quick search on wikipedia (search: myopia, see: education, intelligence and IQ) says that "The prevalence of myopia increases with level of education and many studies have shown a relationship between myopia and IQ." One psycho (okay psychologist) also reports that myopes have 7-8 IQ points higher than non-myopes. Disclaimers warn that correlation does not imply causation. Point taken. And further the article on Arther Jensen, the good chap who quantified the 7-8 points, has its neutrality and factual accuracy disputed. POOF! Mr Silver Lining. It looks like its gonna rain real heavy
Get ready to see a bespectacled me. Ladies, I know you've always loved those big brown eyes :D. All the more reason for you to now come one step closer ;)
August 9, 2007
The lighter side of work
Half a day is spent at work. And if you start at the age of say 23, and hang your boots by 58, you will have logged in 25 years of service and that translates to 12.5 years of contiguous work (at 12 hours on an average). So offices take up a substantial part of our waking hours (not counting colleagues who manage to catch forty winks in creative positions to avoid being caught!) and I decided to blog something on office life. Below is the cumulative experience of self and many other friends, most of whom are in investment banking circles ...
Offices are beeping places. From the start of the day to the end the entire friggin place beeps. There are telephone beeps, callback beeps, computers beep, doors beep. Thank goodness that people don't. (Or did I just hear someone beep .. rather buurrp). It rings in my head all the way home. Beep ... Arrrgghhh!
Bankers are a uniform lot. Light plain shirts, dark pinstripe trousers, neatly combed hair parted at the side in an oh-so-immaculate parting. Round rimmed glasses. The sophisticated accent ... Shit! Is this my future?
Microsoft Excel is a gift. The more I court it the more it shows me different things. But life has become complicated after excel showed up. People demand fancy graphs, creative tables, single line logic formulae ... Sometimes I feel more of a programmer than a banker. And the hard part is I had divorced computer logic the first time we met.
PowerPoint's are no longer the 'five points on a slide in font size 20' routine from college. Bankers love to pack data on a slide like sardines in a can. Sometimes using font size 9??!! Damn. Animations (even the subtle professional ones) are a big no-no. Takes the fun outta life.
Lunches and dinners are a quite, serious affair with perfectly co-ordinated hand and mouth movements. If you end up eating with bosses you end up stiff rather than full. I have always eaten with my (clean) hands. The cutlery put up at formal dinners looks like a kit on a post-mortem table. Last time I tried eating chicken with a knife and fork, the chicken resurrected and flew off the table. Whatever happened to good old hands???
I have always squeezed the teabag with my fingers. Now I use an elaborate mechanism which involves using a spoon and wrapping the teabag around it, winding the string and squeezing the teabag in the process! I want freshly brewed piping hot tea. Middle finger to you teabags!!!
Finally, I have a grouse with the air-conditioning. I think they mistook me for an Eskimo during hiring. Or did they think I was cold blooded? Maybe its to chill down the heartbeat racing treasury chaps? I don't know but after encountering Mumbai's rains on the way to office you don't want to sit in an AC. Brrr ...
So this is it, until I come across a fresh set of experiences ...
Disclaimer: None of the above is to suggest that I do not enjoy my work. This was just an attempt to see the lighter side at work.
Offices are beeping places. From the start of the day to the end the entire friggin place beeps. There are telephone beeps, callback beeps, computers beep, doors beep. Thank goodness that people don't. (Or did I just hear someone beep .. rather buurrp). It rings in my head all the way home. Beep ... Arrrgghhh!
Bankers are a uniform lot. Light plain shirts, dark pinstripe trousers, neatly combed hair parted at the side in an oh-so-immaculate parting. Round rimmed glasses. The sophisticated accent ... Shit! Is this my future?
Microsoft Excel is a gift. The more I court it the more it shows me different things. But life has become complicated after excel showed up. People demand fancy graphs, creative tables, single line logic formulae ... Sometimes I feel more of a programmer than a banker. And the hard part is I had divorced computer logic the first time we met.
PowerPoint's are no longer the 'five points on a slide in font size 20' routine from college. Bankers love to pack data on a slide like sardines in a can. Sometimes using font size 9??!! Damn. Animations (even the subtle professional ones) are a big no-no. Takes the fun outta life.
Lunches and dinners are a quite, serious affair with perfectly co-ordinated hand and mouth movements. If you end up eating with bosses you end up stiff rather than full. I have always eaten with my (clean) hands. The cutlery put up at formal dinners looks like a kit on a post-mortem table. Last time I tried eating chicken with a knife and fork, the chicken resurrected and flew off the table. Whatever happened to good old hands???
I have always squeezed the teabag with my fingers. Now I use an elaborate mechanism which involves using a spoon and wrapping the teabag around it, winding the string and squeezing the teabag in the process! I want freshly brewed piping hot tea. Middle finger to you teabags!!!
Finally, I have a grouse with the air-conditioning. I think they mistook me for an Eskimo during hiring. Or did they think I was cold blooded? Maybe its to chill down the heartbeat racing treasury chaps? I don't know but after encountering Mumbai's rains on the way to office you don't want to sit in an AC. Brrr ...
So this is it, until I come across a fresh set of experiences ...
Disclaimer: None of the above is to suggest that I do not enjoy my work. This was just an attempt to see the lighter side at work.
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