Shahid’s badmashi!

After winning accolades for “Kaminey”, Shahid is being extra cautious about his roles and his image. He recently gave director Parmeet Sethi and choreographer Ahmed Khan a tough time during the shoot of a song sequence for “Badmaash Company”. Shahid, who is trying to tone down the muscles to portray a depressed guy in dad’s directorial venture, refused to sport a white vest for the song and finally wore a white t-shirt instead. Well, can’t really blame Shahid because if he fails to look good onscreen, he’d be the one to face the brickbats too!

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Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Ferrari's newest ace

Formula 1’s most intriguing season in recent times kicked off in Bahrain on March 14th, and Ferrari's latest recruit, Fernando Alonso, having finished on top of the podium may hold all the cards to lead a resurgence of the prancing horse. By Francoise Inizan

How did you feel the first time you drove for Ferrari’s Formula One racing team?
Ha! That’s what everyone wants to know! Fortunately, next year, no one will ask me that anymore (laughs). You don't really realise what Ferrari represents until you arrive in Maranello and discover the passion surrounding the name. The same pride exists even in the plants that make their production cars. People are happy to go to work for Ferrari each day. That's rare.

But when you got behind the wheel...
My first test drive of the F10 was on February 3 in Valencia, and it was my father's birthday. He was there. And it was like a gift for him, since throughout my career he never stopped saying, "If one day you race for Ferrari, then you’ll be able to retire. Your life will be complete." After winning two titles with Renault, I said to him, "But Dad, I’m already happy with my career. It’s already complete!" He objected, "No, no! If you race for Ferrari, people will forget your two titles. They’ll only remember you as a Ferrari driver!" "OK Dad!"

Have you felt the almost infatuated worship of the “tifosi” since you’ve been with Ferrari?
Yes, it's a big change! I’m talking about men, OK (laughs). It’s a new feeling and an additional motivation. It’s really nice. I know that it’ll be even better if I win. I also know that if I lose, it’ll be awful. But that's what it means to be a Ferrari driver.

Have you eaten at Mamma Rosella, the famous restaurant frequented by Ferrari regulars near Maranello?
Yes. I've visited all the legendary Ferrari spots. The famous restaurant, and Enzo Ferrari's office, which hasn’t changed since his death, in 1988... It’s difficult to describe the impression because the atmosphere is so unique.

With Felipe Massa's accident and Kimi Raikkonen's average results, the 2009 season was difficult for Ferrari. Do you feel a sense of obligation to bring the team back to the top?
All the major teams suffered from the new rules on cars last year. Except (Ross) Brawn! It was also a difficult year what with the political affairs between the manufacturers and the International Federation. By getting back to a normal season, with more stability in the regulations, the major teams will return to the forefront.

These last three years, with McLaren in 2007, and then Renault, were also tough for you personally. Did that affect your passion for F1?
No, not at all. 2007 was difficult, but even though I missed winning the (FIA World) Championship by one point, it was a very enriching experience. (Alonso finished third, tied for points with his teammate Lewis Hamilton, just behind Raikkonen.) 2008 and 2009 were something else entirely. I fought for seventh place, but I learned from that. Starting in the middle of the pack. Crucial pit stops. The opportunity to take risks in the rain. All these things were interesting and I told myself, "When I have a better car, I’ll be more ready than ever. And I’ll be the best." That time has come.

Do you sympathise with Jenson Button, who just arrived at McLaren? He’ll end up like you, a two-time world champion, just like you when you arrived at McLaren in 2007. And there were some problems with Hamilton, the rookie in the house...
I think the situation is different today, because while I learned from that season, I’m sure McLaren did too.

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“Public Enemies” star stabbed!

French actress Marion Cotillard was recently bestowed with one of France’s highest cultural honours – a knighthood in the Order of the Arts and Letters. The proud moment, however, is now becoming famous as when Marion was ‘stabbed’ by France’s culture minister Frederic Mitterand! For as he tried to pin the medallion to her blouse, he, accidentally, jabbed her on her torso! Both were seen gasping, and then breaking into laughter! In the same ceremony, director Tim Burton was made an officer in France’s National Order of Arts and Letters. Thankfully, the French minister did not injure him too.

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Who’ll fit the Bill?

The Women’s Reservation debate has triggered much turmoil within the Congress and the BJP, but both parties assert that matters are totally under control, writes Pramod Kumar

To celebrate the passage of the Women’s Reservation Bill in the Upper House, Sonia Gandhi had invited the entire Congress parliamentary bandwagon to a party. The mood was upbeat or at least so it seemed. When the MPs queued up to congratulate Sonia, she suddenly asked one of them whether he was congratulating her for the sake of it or was he really happy at the turn of events. The poor man was startled out of his wits. he managed to utter a few incoherent words like ‘historic’ and ‘landmark’ before sneaking out. But as soon as he came out of the venue, he was heard confessing to one of his aides that he was worried if he would manage a party ticket for himself in the next polls.

There is a sense of dejection among both Congress and BJP MPs. In the Congress, which has only one supreme power centre, the dissent is rather subdued. However, a lot of party MPs are of the opinion that either the percentage of seats to be reserved should be lowered or the rotation system should be more transparent. In short, they want some sort of change in the draft before the Bill is pushed in the Lok Sabha. One disgruntled MP said delimitation had already created havoc in the last elections, and if the Bill is passed, the political careers of many MPs will be all but over.

A large section of such Congress MPs is in touch with Sharad Pawar. They want Pawar to exert pressure to bring in desired changes in the draft Bill. In fact, there are a few MPs who have started exploring the possibility of joining the NCP itself. Jubilant at these developments, Pawar took no time in changing his tune and is now in favour of scaling down the number of seats reserved. He has also assured both Mulayam Singh Yadav and Lalu Prasad Yadav that he’ll raise the issue in the next UPA meeting.

Congress supremo Sonia Gandhi wants the Bill to be passed at any cost. She has asked Ahmed Patel and Pranab Mukherjee to convince Lalu and Mulayam. Pawar is also in the game. Although the Yadav satraps have announced the withdrawal of their support to the government, they know quite well that they don’t have the numbers to bring the government down. In the present scenario, it would be impossible for them to garner the support of the required 32 MPs. On the other hand, good sense prevailed on Mamata and she fell in line following her meeting with Pranab Mukherjee. DMK threw a bit of a tantrum but Sonia and Manmohan both flew to Chennai to show its patriarch some light. For good measure, Karunanidhi reportedly bargained to save the Cabinet berth of his elder son Alagiri, who was under fire from all quarters. Sources say that Kalaignar has also reportedly asked the PM to go slow on the investigations initiated against T.R. Baalu and A Raja.

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“Having tax cuts as part of the stimulus was very foolish!”

Nobel laureate Joseph Stiglitz comments on the world economy and why there were ‘foolish’ mistakes in the stimulus spending

Que: There are a number of problems in America’s financial markets. How do you see the American economy as of right now?

Stiglitz: This applies broadly to the world economy but particularly to the American economy. Effectively, we had three crises going on at the same time – besides the energy crisis and climate change crisis. We had an economic crisis you might say, where what had sustained the American economy was this unsustainable consumption, the bubble broke; and now we have this insufficiency of aggregate demand. That’s the long run problem. That will be there even if we had perfectly functioning banks. The fact is that what sustained the American economy was a zero savings rate. And we’re going to have a five percent or ten percent savings rate. That means that there’s a lack of demand. In the short run we’ve made up for it by Federal Government spending.

But over the long run, it has its difficulty – because of the growing deficit, we change borrowings from the household sector to borrowings at the Federal Government. But even at the governmental level – and this is an important point – some people have been saying the stimulus didn’t work. We should remember that for 2009, we had almost no stimulus. Because of the $800 billion, we had only $200 billion spent in 2009. Most of that was a tax cut – a third of the overall stimulus was a tax cut. This was very foolish as part of the stimulus spending because with the overhang of debt and anxiety about the labour market, we knew that people were not going to spend their tax cuts – and they didn’t; they spent very little of that. So you didn’t get stimulus – if you don’t spend, you don’t get stimulus. So that was a waste of money. It increased the deficit, but it didn’t lead to more spending.

But at the same time, the states in the United States have balanced budget frameworks, which means that when tax revenues go down, they have to either raise taxes or cut back expenditures. This is huge. The states’ shortfalls in revenues are over $200 billion. So over the two year period, we’re talking over $400 billion. In other words, at the state level we have a minus $400, at the Federal level we have a plus $800. The net is only $400 billion over two years – that’s very small! And of that $800 billion, a third of that was tax cut, which doesn’t work. So the net stimulus in the United States is very small. So no wonder things aren’t working. It’s not that the stimulus didn’t work. The fact is that there wasn’t much stimulus.

The same thing happened in the Great Depression. One other thing that happened in the Great Depression was that when people started worrying about the deficit, they started cutting back. And right now we know that the stimulus is expected to end in 2011. That means that when we pull the stimulus back, that’s a negative to the economy. So that’s going to be a big dampener. That’s on the real side [I’m talking about exports]. East Asia could export its way out. A country like Argentina could export its way out. But US and Europe can’t export their way out. Asia is too small relative to the global economy, in consumption it’s too small. The whole world can’t export its way out of the crisis. If exports and consumption are weak, it’s very hard to have investments that is strong.

All those are what you may call the real sector. What is giving the green shoots is the following – in the months after 9/15 [the fall of Lehman Brothers], credit became very scarce, the economy went into a free fall and there was a huge inventory accumulation; and they overshot. That’s why trade declined so much more than GDP. That’s why countries in Asia that were exporters declined so much more. We’re now in a situation that that inventory correction was over-corrected and we’re now correcting the correction. So we’re reaccumulating inventory. That’s the kind of inventory cycle – worse than normal – but such inventory cycles are usually relatively short and we’re getting out of that. So when people say things are better, what they mean is that the inventory cycle is over.

Then the final question is the financial sector. Now the financial sector is clearly better than it was at the precipice after Lehman Brothers. But pointing out, there are a lot of uncertainties. There are a couple million mortgages in the process of being foreclosed, houses being foreclosed. Commercial real estate is in very bad shape. We don’t know how bad because banks have a tendency to roll over. And in the United States, we have very bad accounting. This should be of course a little bit of an irony for those of you from East Asia, where in the East Asian crisis we talked about transparency.

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Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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No idiot here!

Kareena Kapoor is one gal who likes everything around her to be perfect; whether it is her make-up, her clothes or even her director for her ad films! That’s right, this Bollywood princess does not work with just about anybody. So, while she worked with Karan Johar for a paint ad, and her favourite Imtiaz Ali in a snack ad, she recently recommended her “3 Idiots” director Rajkumar Hirani for a cosmetic ad! And so, Hirani is returning to the ad world after almost three years to ensure that Aall Izz Well for Bebo!

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Rs 718 cr for image makeover

State plans spruce up of tourist spots to attract foreigners

Upset with the low inflow of foreign tourists to Orissa, the Naveen Patanik government has decided to fork out Rs 718 crore for the all-round development of tourism in the state. Besides spruce up of various tourist places all across the state, the five year plan also focuses on direct and indirect employment generation. State tourism minister Devi Prasad Mishra says: “This plan envisages jobs to about 4.2 lakh people. Some 1.2 lakh people will get direct jobs from this project.”

Also, the government will be working overtime to improve its image that took a beating after the communal violence in Kandhamal district. “As the rate of foreign tourist flow is low, the Orissa government has decided to launch its campaign in international media to attract foreigners. Of the 69.1 lakh tourists who visited the state last year, the ratio of foreign tourists was only one per cent. Now efforts are on to woo them by developing beach tourism, eco-tourism, rural tourism and Buddhist tourism,” the minister told the reporters.

The government is claiming that favourable environment has been created in the state to increase inflow of tourists. However, some in the tourism industry don’t agree with the government. They say, a lot has to be done. They cite of incidents in which foreign and domestic tourists were attacked. In January 2009, a Russian tourist Lisina Nadedza, a telecom engineer, was stabbed and robbed of her belongings in beach town of Puri. Police reports confirm the incident. Though the cops arrested the culprits but the incident dented state’s image. Likewise, louts abused an elderly Swiss woman Monika Kessler and her brother Niklaus Kessler last year. A local resident accompanying them was also assaulted. Ironically, the cops who were on the spot had even refused to accept tourists’ complaint. Horrified by the experience, the duo decided to cut short their trip, lodging complaints with the Swiss Embassy. Not only foreign tourists, even local tourists are unsafe in the state. Last week police busted a racket of anti-socials, who had been blackmailing local tourists in Ratnagiri, a popular Buddhist heritage site. They were accused of clicking obscene pictures and videos of couples forcefully. The racket was going on for the last one year. But the Jajpur police arrested four people belonging to a nearby village involved in the harassment and blackmailing of tourists.

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Let Us Bleed!

The proposed BRAI bill is all set to roll out red-carpet to GMOs

India will take another two years, as it contemplates to setup her own independent regulatory body, to monitor viability and safety of genetically engineered crops. Jairam Ramesh implemented indefinite moratorium on Bt Brinjal because our country lacks credible regulatory authority to monitor genetically modified (GM) products. Even if the ‘Biotech Regulatory Authority of India’ bill (BRAI bill) is cleared, it will take a year for it to start functioning. Presently, an arm of environment ministry called Genetic Engineering Approval Committee (GEAC) has the final say on production and commercial distribution of GM organisms. The intended regulatory body will have three important scientific divisions: Human & Animal Health; Agriculture, Forest & Fisheries; and Environmental & Industrial Application.

However, in spite of such noble intention, there is public outcry against certain clauses of the bill. So much so that the concerned groups are in favour of setting up National Biosafety Protection Authority; as a buffer against BRAI! It is argued that there are draconian clauses in the bill, which are meant to allow MNCs producing and marketing GMOs rather than protecting health and environment; apart from throttling voices raised against such malpractices. Further, the bill has ignored the immense sphere of biotechnology, and got itself confined only with genetic engineering, thereby exposing the ignorance of the people who crafted it.

The seriousness with which the objection is raised on a section of that bill is alarming. As it states "Whoever, without any evidence or scientific record misleads the public about safety of GMOs and products thereof shall be punished”, not only with fine but imprisonment as well. It sounded more like a promotional mouthpiece of the corporations releasing GMOs without regulatory tests, rather than an agency trying to shield the masses from their selfish blight.

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Struggle would be taken to the streets

As far as BJP is concerned, the plan was carefully laid out during the Indore conclave. It was planned that the struggle would be taken to the streets. It was felt that the party rank and file are a demoralised lot at the current juncture and the anti-price rise agitation would galvanise them. It is not for nothing that the party has launched mass protests in every provincial capital city. The party plans to move the campaign to the rural areas and has also decided to show its strength in a mass rally in Delhi on April 21. However, while talking to TSI, BJP spokesperson Ravi Shankar Prasad did not admit that the party was linking price rise to the awareness campaign. He also insisted that BJP was a national party and its cadre were spread across the entire country.

Lalu, Mulayam and Mamata want to remain associated with the regime while making their stance clear over the issue of price rise. This will also revitalise their parties, which, particularly in the case of RJD and SP, is the need of the hour. Mulayam, in a hurriedly called meeting of SP MPs, asked his flock to return to the state and initiate street protests from the state capital. This was a clear departure from the pre-Budget days when Mulayam was hardly active and the day to day affairs were in the hands of Ram Gopal Yadav and Mohan Singh. Lalu, on the other hand, has also joined hands with the Opposition. In a reply to a question by TSI, he said he is aware he cannot muster much in terms of numbers in Parliament, but he certainly can mobilise effective street protests.

The Left is once again on the same side as the BJP. They insist that they were the first to ring the warning bell. Talking to TSI, CPM leader Sitaram Yechury said, “If we had not checked the government during UPA-1, inflation would have touched double digits. This Budget will strangle the common man. Every party is convinced of this apart from the ruling Congress party, which still insists that the policies are good for the nation.”

Commerce minister Anand Sharma said such decisions were necessary in the interest of the country as the price hike will lead to funds that will keep pro-people projects running. Such decisions become necessary at times, he added.

Sources claim that in the Congress Core Committee meeting on Tuesday night, the party was unanimous in concluding that the Opposition was opposing the UPA for the sake of it and it will not affect the fate of the government. However, it was felt that the parliamentary affairs minister would need to coordinate more actively with the alliance partners.

It was also decided that even though international crude price is low, the government needs extra money. Pranab Mukherjee will try to convince party MPs regarding the move, failing which Sonia Gandhi will step in and intervene.

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A few billions less...

Indian business owners have been among the worst hit this year

The cat is out of the bag, while many Indian tycoons would have wished it stayed inside! While they have hitherto been shouting from the roof tops that the global meltdown has not impacted their enormous wealth; the testimony to that – the Forbes World Billionaires list, elucidates just the converse. Out of the total 53 Indian moguls who made it to the list last year, only 24 could hold on. Mukesh Ambani, who slipped two positions down, surpassed the steel magnate Lakshmi Mittal (currently at number 8, was at number 4 last year) and sat perched at the fifth slot as richest Indian with net worth of $19.5 billion.

Anil Ambani, the biggest gainer in 2008, was the worst hit this time, after losing $31.9 billion in net worth. At the 34th position, his current fortune stands at a relatively modest $10.1 billion. Says Hitesh Agrawal, Head of Research, Angel Broking, “His (Anil Ambani’s) fortunes are directly correlated to the stock market... recovering all the lost sheen in 2009 for ADAG Group seems unlikely.” While Lakshmi Mittal saw his personal fortune dwindling from $25.7 billion in 2008 to mere $19.3 billion in 2009; DLF’s K. P. Singh, too, witnessed his wealth being gnawed down by $25 billion. Notable among the tycoons who lost the billionaire title were Vijay Mallya (UB Group), Ramesh Chandra (Unitech), Sameer Gehlaut (Indiabulls), Tulsi Tanti (Suzlon) and Jignesh Shah (MCX). Tough economic conditions in their respective sectors have led to this predicament. The only gainers were the Singh Brothers – Malvinder Mohan and Shivinder Mohan of Ranbaxy – whose net worth increased over the past year (currently at $2.6 billion). The sale of 34% stake in Ranbaxy, enabled them to add $550 million to their net worth.

The correction in the personal fortunes of these ‘once-a-billionaires’ has also lead to China displacing India as the Asian country with highest number of billionaires (28 tycoons) in 2009. However, the combined value of Indian billionaires stands at $107 billion, double their Chinese counterparts, which is a humbling $44 billion. Small mercy though. For, with experts opining that the current fiscal will be equally challenging for Indian business tycoons, considering the setback that equities witnessed in 2008 and the continued risk aversion amongst investors; it would be an uphill task for this year’s survivors to hold on to their positions for another year. And an even more challenging task for dropouts is to devise a comeback strategy to regain a position in the Forbes World Billionaires 2010. They will have to really come up with something dramatic to enthuse the stock markets.

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Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Lets talk now!

US finally realised it for a change

Well let’s look at it this way. Finally Iran and its intransigence is of some use to the world. At least it’s helping to bring some sanity in the US’s way of looking at the world and solving some key global issues. The US for once realized that Iran is no Iraq and that it cannot solve this issue on its own but would require the help of its erstwhile bete-noire Russia’s help in this case. Obama’s confidential letter to the Russian president Medvedev exemplified that. It was stated in the letter that the US will shelve the interceptor missile system that it plans to install in Poland with a hi-tech radar facility in Czech Republic, provided Russia successfully pursues Iran to shelve some of its nuclear ambitions. While Bush offered it as a direct quid pro quo, Obama on the other hand is trying to involve Russia as a strategic ally not only in the Iran issue, but also in war on terror in Afghanistan. It also talked about renewing arms treaty between the two countries that is expiring this year. However, Russia’s pride and Cold War hangover was instrumental in their refusal to the offer (denying being a second fiddle to the US), albeit expressing desire to talk on missile defense plan with the US. Obama is also considering a Russian proposal (which Bush refused) to install a part of the missile defense system on their own soil, so that it cannot be used against them. He is likely to respect the proposal only if it is effective and affordable.

Time since the Soviet disintegration, Russia has never got the right kind of treatment from the US that it always deserved. Even when Russia was included in G8, a certain antagonism still prevailed. If Obama succeeds in mending the relationship between the US and Russia by giving the latter its due respect, it’s for certain that many of the world’s major predicaments would be solved much more amicably. There are several issues on which Russia and the US do think on similar lines but for the needless turf war between the two, they refuse to accept it. If Barack Obama succeeds, future history would surely be grateful to him for his first move.

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“Honest pricing policy”

B&E: What were the vision and mission for the Indian market when LG started off its operations in India?

MBS: The company pursued the vision of becoming a true leader, attracting customers worldwide through its innovative products and design. In the first few years after its entry, LG did not get into price wars. Unlike other players, it did not offer any exchange schemes or discounts. We believed in an ‘honest pricing policy’ and our message to customers read ‘No scheme, no gimmick, great products and honest prices.’

B&E: What understanding of the Indian market did LG had then and what strategies did LG as a company formalise for penetration at that time?

MBS: Since its initial years in India, LG has focused on bringing out new models regularly in its product range. In its first year of operation in India, LG launched 70 models across a range of products. In 1997, it introduced its Golden Eye Technology TV, which had a light sensitive natural algorithm ‘eye. Thus, LG showed that it cared for customers’ health through its products. LG’s concern for health of customers was its Unique Selling Proposition (USP) in the Indian consumer durables market. Similarly, LG positioned its refrigerators as the ‘preserve nutrition system’ refrigerators.

B&E: What were the key challenges that LG as a company had to face at that time?

MBS: When LG started its operations in 1997, it sold products that were imported. Hence, its products were priced high and were equivalent to other foreign (Japanese) products. However, in 1998, LG launched ‘Sampoorna’, its first low priced TV for rural consumers, and followed it with ‘Cineplus.’ The Indian customers wanted the best products at reasonable prices; LG started introducing quality products in the economy range.

B&E: What is your vision and what are your plans and the challenges for the company?

MBS: The company’s goal is to rank among the top 3 consumer electronics and telecommunications companies in the world by 2010. To achieve this, we have embraced the idea of “Great Company, Great People,” recognising that only great people can create a great company.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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A stem cell in need...

Being the pioneer in stem cell banking in India, LifeCell does have a head start. But these are early days in this industry and digging beyond the iceberg’s tip is going to be the real challenge by Virat Bahri

We rightly do not consider their banks or their auto companies as role models, but there are areas where we can learn from the American way of life and from their democracy. The manner in which they debated the morality of the use of human embryos (which would get destroyed in the process) for stem cell research is one instance (although it was amusing to see George Bush oppose the use of taxpayer’s dollars for destroying human embryos while using it in the wars in Iraq and Afghanistan!).

The scenario in India is quite different; where a debate on statehood is still far more likely to grab bigger headlines. Moreover, India is a market where health insurance itself has penetrated just about 3% of the market, so stem cell treatment looks even more distant. As far as morality of using embryos is concerned, we ourselves would sound like hypocrites even raising the issue; considering that around 7,50,000 abortions happen every year in India (UN figures), because they were girls.

Mayur Abhaya, ED, LifeCell International was never doubtful of the potential of this business when the company was set up in India in 2004 in technological collaboration with CRYO-CELL International Inc. The twin challenges that they faced instead were to create awareness in the Indian market and create acceptability in terms of pricing.

With a focus on embryonic stem cell banking, the company’s primary target audience is expectant parents from SEC A+, SEC A and SEC B categories. Initially, the company was constrained by availability of funds and therefore tried to reach out to customers through a B2B strategy (gynaecologists). Slowly, the company is targetting end customers through advertising, events, et al. Besides, the company is trying to improve penetration through EMI schemes et al. Tie ups are being done with players like Club Mahindra, Fitness One and Kaya Skin Clinic. The company has decided to position itself on the lifestyle plank to broaden its appeal.

Abhaya was aware that the numbers would be hard to come by initially, but was optimistic that things would look up once the company achieved critical mass, which he defined as 5000 client additions annually. The company added 7500 clients last year; taking its total tally to around 25,000. This is not even the tip of the iceberg, however, considering that India has an annual birth rate of close to 25 million. Abhaya himself admits that a company in China typically adds around 50,000 clients every year with prices at the same level or higher (as India). Consulting firm PwC tells B&E that India’s stem cell market is growing at a rate of 15% per annum and is estimated to hit US$ 540 million by year 2010, while the global stem cell market is expected to touch US $ 20 billion mark.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

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Miller mills fresh rumours!

We wonder what Sienna Miller is hinting at by flaunting the ring that Jude Law presented to her when they got engaged. Although her friends claim that it is nothing more than a piece of jewellery to her, which she really likes, and that she is not wearing it on her ring finger, the grapevine is still speculating about the possibilities. Though the couple broke up when Jude had an affair with his children’s nanny, they reunited recently and have apparently put their past behind. Well, we hope this time the ring stays on her finger, for good.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
IIPM News
1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
IIPM B School on Twitter
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Miller mills fresh rumours!

We wonder what Sienna Miller is hinting at by flaunting the ring that Jude Law presented to her when they got engaged. Although her friends claim that it is nothing more than a piece of jewellery to her, which she really likes, and that she is not wearing it on her ring finger, the grapevine is still speculating about the possibilities. Though the couple broke up when Jude had an affair with his children’s nanny, they reunited recently and have apparently put their past behind. Well, we hope this time the ring stays on her finger, for good.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
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1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
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(Un)civil servants?

To curb corruption in high places, the BJP government in Madhya Pradesh has made it mandatory for bureaucrats in the state to declare their assets, reports Raju Kumar

In a significant first, Madhya Pradesh has made it mandatory for all civil servants in the state to make details of their moveable and immoveable assets public. The state’s general administration department has asked all division heads, collectors and officers on duty to upload details of all employees under them on the MP government’s official website latest by April 30.

This decision was made on the day the State Information Commission, in a landmark order, ruled that “public authorities related to administration are to assure that public servants under their jurisdiction furnish details about their assets every year without fail.”

The order further said: “Even in cases where RTI is not filed, the details should be put on the website and shared with the public. This will help people keep a constant eye on public servants.”

This landmark decision is expected to pave the way for similar directives in other states. Officers from the central civil services, too, might have to declare assets in the near future. MP has seen a phenomenal rise in corruption cases involving high-level officials and ministers. According to the Congress, the state’s principal Opposition party, the minister-bureaucrat-contractor nexus has led to the institutionalisation of corruption. The party has been demanding that officials and ministers declare their assets. This, the Congress believes, will expose the scams that have taken place during BJP rule.

BJP had hitherto refused to comply. When the Congress was in power in MP, it was mandatory for ministers to declare their assets in the Assembly. The BJP discontinued the tradition. In fact, the demand for declaration of assets by bureaucrats was opposed by both the government and the MP IAS Association.

However, the IAS lobby lost its bargaining power when large-scale income tax raids exposed malfeasance on the part of several IAS officials, including a couple of chief secretary rank. This forced the government on to the back-foot.

However, K.K. Mishra, spokesperson of the Congress state unit, is not impressed. He fumes: “The decision has come close on the heels of the income tax raids. No action had been taken in the past. Was the government shielding the accused?”

The government is in damage control mode. Chief secretary Awani Vaishya repeatedly asserts that the government is determined to punish the culprits. The IAS Association denounced the culprit couple in a hastily-called meeting and stressed on the need for administrative reforms to weed out corruption.

However, this face-saving act by the Association did not find many takers. Given their failure to provide a plausible explanation for their opposition to assets declaration, their reaction was seen more as hypocrisy than genuine concern.

Also, the decision of the state information department came as a surprise to the government. Now, even if the government were to reject the decision, officials would have had to declare their assets to the State Information Department. Naturally, the state government did not want its image to be dented any further and supported the decision. The dynamics changed overnight.

Those who had opposed such measures in the past were now finding it difficult to stick to their stand. Even ministers have decided to resume the asset declaration tradition in the Assembly. The Opposition is trying to pin down the government on the issue of corruption and it is demanding a special discussion in the ongoing session of the House.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

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Delhi/ NCR B- Schools get better
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Ghosts from the Past

The J&K CM’s proposal to grant amnesty to returning militants has alarmed certain political forces, but if implemented right, the process could serve as much-needed salve for the festering wounds of the Valley, reports Haroon Reshi

The early 1990s: armed insurgency had just erupted in Kashmir valley. Muhammad Shafiq Bhat, then only 15 years old, had passed his Class 8 examination. Drawn by the cause that the militants represented, he left home to join Hezbollah, a local terrorist outfit.

One thing followed another and, in order to make himself combat ready, he crossed the Line of Control (LoC) to Pakistan-Occupied Kashmir (PoK) in the company of a group of youth to receive arms training. Among his co-travellers, there were many boys from his neighbourhood.

A few months later, all the boys returned armed with Kalashnikovs. But Shafiq stayed on in POK. During the course of the arms training, he had had a change of heart. Instead of embracing militancy, he opted to become a professional driver in PoK.

Several years later, back in Srinagar, his family received a message from Shafiq. He had got married to a local girl named Aisha in Muzaffarabad, the capital of PoK. The message also contained an appeal to his family for financial help.

His mother, Jigar Begum, sold a piece of the family land in Srinagar for Rs 3 lakh. She applied for a passport and went to PoK via the Wagah border to see her newly wedded son and his bride. She handed over the money to Shafiq, who used it to buy his own passenger vehicle in Muzaffarabad.

After Jigar Begum returned to Srinagar she was arrested by the police for questioning. She was released after three days when locals came out to protest against the arrest of an elderly woman.

Two decades on, Shafiq wants to return home. Not with a gun and ammunition, but with his wife and three children. His mother and other relatives in Srinagar are eagerly waiting for that day to dawn when Shafiq would be able to step foot in Srinangar again.

Says Jigar Begum, now 80 years old: “It will be like a dream come true when I see my child back in our midst. He was a kid at that time. Now he has grown up. He deserves forgiveness for the mistake which he committed in his childhood. All of us are being punished for a child’s mistake. How can the government be so cruel?”

This old woman also lost her elder son, Muhammad Ibraheem Bhat, in a militancy-related incident in 1994. According to family members, Ibraheem was killed in crossfire between militants and security forces near his residence in Batamallo area of Srinagar.

“The conflict has ruined my family. I have lost my two sons, one forever and another for an indefinite period. I want to see Shafiq before I die,” Jigar Begum told TSI, tears rolling down her face.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
IIPM News
1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
IIPM B School on Twitter
IIPM ISBE Programmes