Friday, December 21, 2012

The World as hostage

The rise of OPEC has been an abiding curse for the world

One abiding fantasy in the Arab world since 1948 has been the destruction of the state of Israel, many legitimately angry at the treatment meted out to Palestinians and some nursing deep religious and ehtnic hatreds. In 1973, an America supported Israel fought yet another war with neighbouring Arab countries and won a convincing victory. After the 1967 disaster, this repeat pulverised the Arab world and even the autocratic rulers of these oil rich kingdoms and sheikhdoms realised that their thrones were in danger if something was not done to mollify the Arab street. One direct result was the Organisation of Oil and Pteroluem Exporting Countries (OPEC) imposing an embargo on shipments of crude as well as refined oil.

The next step was a multi hundred percent hike in the price of oil. The global economy was literally shaken to its very foundations as a result and complacent American consumers realised that they had to wait for hours to get their cars refilled with ‘gas.’ But the global economy did adjust to higher oil prices while all -almost all-oil exporting countries have started failing as modern functional societies as a result of massive dollar revenues coming from oil exports. Iran, Saudi Arabia, Russia, Iraq, Sudan and Nigeria are just some examples of what happens to societies when easy dollars are used by autocratic regimes to buy peace and promote fundamentalism of one kind or other. Can you imagine a born rich Mohhamed Atta of Saudi Arabia flying aircraft onto the World Trade centre without oil money lurking in the background?


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
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Wednesday, December 19, 2012

THIRD WORLD: MALTHUSIAN

Malthus debate surges on today

Take for instance, the third world countries or the third world market, where developing countries are continuously coming out with new and innovative products and technologies due to scarcity of resources. Well, aren’t India and China considered markets of the future because of their population and its growth? Isn’t it better to be then a supremely crowded third world country than a first world country like Japan or Switzerland with falling population?

The answer is a categorical no. Firstly, to focus on population is to wrongly focus purely on GDP growth as the basis of calculating development rather than HDI or Lifestyle Index. Secondly, China and India have had [and still continue to have] the maximum number of people in the world living below the poverty/destitution line. Thirdly, economic development in such countries have been primarily unequal over generations. Clearly, it is better to be a highly developed, rich [5th wealthiest], yet recession ridden lowly populated [4.6 million] Singapore than to be a 1.2 billion plus people country with a 7% GDP growth rate, having 200 million and more defecating in the open...
 

Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Sunday, December 9, 2012

Political opportunism over economic sense

That’s what the UPA did with the inflation figure, and thus favoured political opportunism over economic sense, says GYANENDRA KASHYAP

The high base effect also has a role to play in this case as inflation stood at 7.78% during the corresponding week of the previous year.” A quick reality check reveals that the consumer basket is consistently moving northwards while the headline inflation moves southwards. Picture this - inflation rate (as on March 7, 2009) for sugar, salt, pulses, cereals, milk and spices was respectively pegged at 22.37%, 11.07%, 10.97%, 10.16%, 7.1% and 6.23% – now that’s the bitter reality.

The miniscule weightage attached to this category and the high price that these command is subtly dwarfed by the inclusion of numerous other commodities, which strictly speaking do not qualify to fall within the ambit of essential goods. The current basket of WPI does not include power bills, medicines, education and transport, et al (which, in real sense, involve a heavy outgo); but is tilted more towards manufacturers so that the behaviour of the index for this group largely determines the movement of the overall index. Now that’s the manipulation government has been resorting to; had it not been so, the headline inflationary picture could well have been altogether different. The government plays with WPI while what matters to the ‘aam aadmi’ is CPI. Consider this; food prices have about 60% weightage in CPI (AL and RL) while its weightage in WPI is around 15%. Quite a sham, unless the government expected consumers to drastically alter their spending patterns!


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Friday, December 7, 2012

An Islamist conspiracy!

The main aim of the recent BDR mutiny in Bangladesh was to grab power and nothing else

Was the recent bloody mutiny by the Bangladesh Rifles (BDR) simply to demand better service conditions? Well the perceived wisdom is that events much greater than the economic grievances that sparked the two-day running battle between the BDR and the Bangladesh army in Dhaka’s urban centres and some other areas. The BDR is said to have been vying for participation in the lucrative UN peacekeeping missions and restructuring of the forces. But many Bangladesh watchers are now arguing that the scale of the rebellion belies the staid notion that only economic demands were behind it. What's more? Such concerns could easily have been addressed by employing conventional trade union pressure tactics. But the BDR unleashed a virtual reign of terror, holding several army officers and their families hostage and mowing down a good number of them. It is just not possible – indeed even probable – that the upheaval was driven with the simple aim of grabbing political power? A great deal goes to support such a notion. The timing of the revolt itself gives one pause – coming as it did at a time when Sheikh Hasina was still to settle down in the PM's office. It came on January 6, immediately after her swearing-in. Her party, the Awami League, had swept the long deferred general elections, thanks to the military’s meddling.

The strong suspicion of a deeper conspiracy comes from reports that the BDR mutiny had the secret backing of a section of Bangladesh’s army officers, including Army Chief, Moeen Ahmed. Ahmed is widely perceived to be a secular officer, who had been put out of reckoning.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Thursday, December 6, 2012

On the hot seat till 2049?

Chavez may have won the right to relections, but it would be in vain if he cannot revive the economy

Hugo Chavez can in a way be called the successor of Fidel Castro in Latin America. Much to the dislike of his critics and to the liking of those who have blindly supported him all the way, Hugo Chavez, President, Venezuela on February 15, won the referendum campaign that allows him to contest the presidential elections in 2013. Just after 15 months, when the referendum ending the fixed tenure clause for president was passed, Venezuelans have given Chavez a go through to run for president for the next term as well.

Chavez has won the polls and not with a slim margin. Official figures suggest that he won 54% of the votes against 45% that did not support him. His opposition, which has understandably been hit where it hurts the most, calls the whole election process a sham. And why not, because it has been a fight against Chavez and his ideologies, which the opposition has fought many times but rarely won.

Chavez lost the vote over a year ago, but has redeemed himself, although there are allegations of his misusing government machinery for the campaign. Socialism will now have a new position and also a stronger hold. What Chavez calls “21st century socialism” now clearly has the support of the people. As much as Chavez’s contribution to the country and its people has been the reason (the poverty figures have fallen in Venezuela from 54 %in 2003 to 26% in 2008), lack of proper leadership in the opposition has also made things easier for him.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Wednesday, December 5, 2012

USA: OBAMA'S NEW TEAM

Obama's brigade promises a fresh perspective to the Middle East issue, but is treading on a difficult terrain

Mitchell, in the past, had led the peace initiative in Northern Ireland. Clinton also named former US Ambassador Richard Holbrooke, who negotiated the Dayton Accords to end Balkan Wars. Mitchell has been nominated as “special envoy”, while Holbrook bears the label “special representative”.

Even though Obama seems to have fallen very much to the contour held by the Bush government (considered pro-Israel) on the Palestinian issue, he appeared to demonstrate a better understanding for the predicament of the Palestinians and presented an uncommonly comprehensive sketch for securing the current Gaza armistice. Obama also expressed concerns over the widespread belief in US that only taking a “pro-Likud” approach can assure peace in west-Asia. Obama added, “One of the things that struck me when I went to Israel was how much more open the debate was around these issues in Israel than they are sometimes here in the US.” The choice of Mitchell conveys that US will be back as an honest negotiator in the Middle East conflict. But that does not necessarily mean that US will be an effective mediator, after all, soft power has its limits.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Monday, December 3, 2012

Companies can create win-win situations for one and all

His mantra is that through strategic CSR, companies can create win-win situations for one and all. However, L.N.Mittal reiterates that the company’s main responsibility is towards its shareholders; as told to B&E’s Ruchika Chawla

B&E: Isn’t it the Government’s responsibility to provide “public goods” and words towards social welfare? Why should it be that big/rich companies are being “pressurised” to undertake CSR?
LNM: In today’s society, business has an influential role to play in the world. Of course our first responsibility is towards our shareholders and to create value. But we also have a responsibility to our stakeholders – whether employees, customers, governments or communities. And this is what good corporate responsibility is about. At ArcelorMittal, we don’t feel that this is something we are pressured into doing. Rather it is an integral part of our approach to doing business that we believe is an important component of enabling us to perform to the best of our abilities. The best example I can give of this is in Kazakhstan. We own and operate the steel plant, but we also renewed the tramways, the power plants, the hotels, the stadiums, and developed social activities such as children’s camps. If we had not done this when we acquired the plant, the town would not have the correct infrastructure to support the steel plant. It’s a win-win situation for everyone concerned. Today, the steel plant runs efficiently and we are able to positively impact the livelihood of the community more broadly while continuing to improve the plant’s efficiency. This is what good Corporate Responsibility is all about.

B&E: There is a theory that the only objective of companies is to generate profits and maximise shareholders’ wealth. Do you agree with this?
LNM: Fundamentally businesses exist to make profits. And rightly so, because without profits you have no business and no economic growth and development. If you are a public listed company, your shareholders expect you to deliver strong returns on their investment. But simultaneously we work to ensure that our approach never compromises long-term sustainability for short-term profitability. At ArcelorMittal we take the long view espouses in our brand promise of “Transforming Tomorrow” – of thinking not only of today but also the generations to come. This means taking into consideration areas such as corporate responsibility, health and safety, the environment, human resources and research and development. All of these areas are critical in ensuring not only a profitable company that benefits our shareholders but a sustainable company that also benefits our stakeholders.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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Sunday, December 2, 2012

King David Hotel

King David Hotel is the most spectacular super deluxe hotel in Jerusalem and has the best location in town. Attracting vacationers to business travellers to celebrities, King David Hotel offers an extraordinary combination of tradition and luxury. The hotel preserves the true essence of Jerusalem in its warmth, hospitality and tranquil environment.

THE VIEW: Situated in the heart of the city, King David Hotel offers its guests the pleasure of viewing the city turn golden as the sun kisses the horizon in this legendary Golden City.

ARCHI TYPE: This luxurious hotel is a historical landmark and was used by the British Army in olden days. Its architecture and decoration is reminiscent of the period of King David with influences of Assyrian and Hittite eras.

BON APPÉTIT: While you are in Jerusalem it is a perfect opportunity to stimulate your taste buds and indulge in a sinful multi-course Sabbath meal. Jewish dishes from around the world are the chef’s favourite on traditional Friday nights at the King David Hotel. Also sit back and enjoy cold salads, light drinks and alcoholic beverages. Hot dairy specialities are other steaming hot favourites in and around the city.

AROUND THE CORNER: The Hotel is situated 18 miles from Ben Gurion International Airport. The Old City can be easily toured on foot. Other worthwhile sites would include the Church of the Holy Sepulchre, Via Dolorosa and the Dome of the Rock – the third-holiest Islam shrine in the world. Apart from being a religious retreat, Jerusalem has much more to offer – a splendid nightlife while jazz clubs, trendy restaurants, cinemas and theatres are sure shot entertainers.

Read more..... 

Source : IIPM Editorial, 2012.An Initiative of IIPM, Malay Chaudhuri

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Friday, November 30, 2012

INDIAN BILLIONAIRES: WEALTH EROSION

With billions of personal dollars eroded, the foul market has gatecrashed into many a billionaire party...

Then there is his younger brother, Anil, who comes second in list of personal wealth loss victims. While his five companies – R-Com, R-Cap, R-Infra, RNRL and Adlabs lost a total of $53.7 billion between January 8, 2008 and October 24, 2008, he saw a personal wealth erosion of a gigantic Rs.1,902 billion to touch just Rs.399.5 billion as per market reports! For him, it was perhaps all about walking in the shadows of his older brother! Real estate tycoon and DLF’s Kushal Pal Singh was the next big loser with his total wealth of Rs.2093.7 billion having been reduced to a mere Rs.285.5 billion in the time interval mentioned above. For K. P. Singh’s fotunes, B&E analysis proved how an 85.4% fall in DLF’s adjusted stock value lead to an almost equivalent 86.4% reduction in K. P. Singh’s personal coffer value. As on November 11, 2008, as per B&E estimation, his wealth stands at Rs.438.1 billion, still 80% short when compared to his brightest day in 2008!

Proud we were when Forbes announced that India really had the largest number of billionaires in Asia (52 of them). Today, the epidemic struck market is sure to reduce this huge flock to just a handful by the time Forbes comes out with its list of billionaires next year. In total, as a financial market expert confirms, “The group of top ten Indian billionaires have lost more than $425 billion in personal wealth. And this may just get worse considering that recovery is still some months away…” Between January 10, 2008 and November 11, 2008, L. N. Mittal (who controls over 47.5% stake in Arcelor Mittal) has lost a tear-jerking $35 billion. His net worth today stands at just $11 billion. Then there are other promoters who have lost a great deal with the market playing harlot to the whims and fancies of global turmoil – Tatas have lost $25.4 billion, Ramesh Chandra of Unitech is worth just $0.73 billion today (having lost a blinding 95.5% of his wealth since Jan 8), RP Goenka & family promoters have washed their hands off more than $900 million (their value now is just $980 million).


Source : IIPM Editorial, 2012.

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Thursday, November 29, 2012

The best environmental practices

The best environmental practices of leading countries, should be replicated in India too...

India’s position has been quite consistent in recent years, ranking 120th in 2008 and 118 in 2006. We covered more countries (149) in 2008 than in 2006 (133), a couple of which came in ahead of India, so the ranking is really the same. India’s relatively low ranking reflects not only the limits faced by all developing nations but also problems of governance. India does poorly in comparison to others at the same level of development meaning that it is managing environment and sustainability challenges less well than others who face similar situations. India receives low marks on a range of issues. The country’s scores on sanitation and indoor air pollution are among the worst in the world. Protection of habitat and land conservation also emerge as areas of subpar performance. More generally, India faces serious air pollution problems in its cities and significant water issues, reflecting challenges related both to quality and quantity.

We see, as noted above, to cover the full spectrum of pollution control and natural resource management challenges that governments across the world face. We build on an assumption that there are two fundamental objectives when it comes to sustainability - (1) protecting human health from environmental threats and (2) ensuring the vitality of ecosystems. We put equal weight on these two goals and then track indicators in five policy categories water, air pollution, biodiversity and habitat, productive natural resources and climate change as well as relevant sub-categories that policymakers must manage.

We recognise that the rankings depend on the weights one puts on the different categories, but we believe that the model we have developed is a useful starting point for understanding governmental performance both holistically and on an issue-by-issue basis. Frankly, the overall ranking of a country is not that useful to study. What is important is how a country does compared to those in its peer group – other countries that are similarly situated in terms of environmental challenges and level of development.


Source : IIPM Editorial, 2012.

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Monday, November 26, 2012

Hi! I was Bill Gates. Let me tell you about my past, present & future.

steven philip warner, assistant editor, b&e, collides with many people within the gates fraternity for a stunning insider account of the man who re-coded the world... and we follow it up by a smashing one-on-one interaction with the man himself, the one they call...

Well, i don’t know what you all call him; or rather, I think I know too well. You, and I know of him as Bill Gates. That part is simple. He is/was called Trey by his close family members [Trey, as in three, as he was III in the line of the Gates tree]. Many Microsoft insiders also address him as BillG. Leave family and the closest of closest friends, he chooses to talk to people he ‘chooses’. It is rarely otherwise. And that point kept nagging me while my team and I were hounding his offices, Microsoft and what say you, to get him to ‘choose’ us. I had good reasons. The man was on the cover of TIME last month, wasn’t he? He’d ‘chosen’ to write a treatise on what he termed ‘Creative Capitalism’, solutions to help those billions left behind. So when the Bill & Melinda Gates Foundation wrote to us all of a sudden, out of nowhere a few days back, it was like a most smashing and pleasurable bolt from the blue. I was informed that Microsoft in Seattle, USA, had forwarded our interview requests to the foundation too, and they were rushing in to us the minutes of the meeting between Bill, Melinda and Buffet, where they describe the reasons for the billions in grants to the foundation and also the reasons the foundation is focused on specific areas.

$29 billion is what Gates has given since 2000 to his own foundation in this quest. That is, apart from his own services at the top – on June 27, 2008, Bill Gates relinquished [and not ‘resigned’: Bill says he hates to use that word] his official day to day duties at Microsoft and joined the Bill and Melinda Gates foundation ‘full-time’ [“I’ll still be involved part-time with Microsoft, but my full-time job will be at the foundation,” Bill shares in our exclusive interview later on]! You add another $40 odd billion that he’s made his best friend of recent times [17 years till date], Warren Buffett, give to the foundation, and you have the makings of the greatest philanthropist in the history of mankind.


Source : IIPM Editorial, 2012.

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Sunday, November 25, 2012

What makes this business worth keeping for the Modi camp?

After selling off his telecom business to Idea and speculations rife on the sale of his mobile business to Sony Ericsson, B. K. Modi is still betting big on mobile retail. surbhi chawla analyses what makes this business worth keeping for the Modi camp?

“This is a very lucrative category, and Hot Spot is best in most of the things. For instance we are very strong on the product mix side,” avers Sanjeev Mahajan, CEO, Hot Spot. Hot Spot also has a healthy product range with mobile phones in all ranges from Rs.1,000-50,000. Not only this, Hot Spot has an edge in the mobile accessory market, with margins of over 50% in the category. Here Hot Spot has taken the lead by launching its own private label in Bluetooth devices, batteries, chargers, memory cards & fashion accessories. Given the fact that the accessories market is growing phenomenally and the margins too are kind, the move has been spot on. Little wonder, that although it has only been six months since Hot Spot has entered this domain, 20% of their accessory sales have now started to come from their own private label.

Another ace for Hot Spot is its service proposition. States Mahajan, “There is a huge gap in the service side of this market and we believe that the key to this market lies in developing the service network.” Currently, Hot Spot has close to 100 service centres and around 250 franchisees for services. But the edge is being lost as The Mobile Store is also offering a similar service model. With the shelf life of a mobile handset dropping to under a year and the replacement market growing at a phenomenal pace, developing an on-going relationship with a customer could prove to be crucial in the times to come. The Future Group promoted mbazaar, too has similar plans. “We would be looking at adding more value adds to the customers like offering them insurance, after sales services, et al,” states Rahul Rajamudhiah, COO, CorvergeM, Mobile & IT-related division of Big Bazaar. One cannot, however, deny the fact that the competition in the sphere of mobile retail is gaining momentum by the day and although Hot Spot was the first one to enter this category, the likes of The Mobile Store and Subhiksha Mobile are way ahead in the total tally of stores and it would have to speed up its pace to be present in strategic locations to have an edge over them.

Hot Spot also needs to up its marketing activities as players like Subhiksha Mobile & The Mobile Store are very aggressive on the marketing & advertising front. Also the fact that Hot Spot that talks about being brand neutral is actually perceived by many as being a Nokia Priority dealer (as it pushes Nokia more aggressively than other brands), might just come in the way of its neutrality positioning. In particular, Hot Spot now needs to aggressively brand itself in the mobile retail market, or it will lose out on the edge that it has managed to create for itself in mobile retail, just as they lost the first mover advantage in the mobile handsets business.


Source : IIPM Editorial, 2012.

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Saturday, November 24, 2012

Why ‘Power’ Hungry pols deny ‘power’ to people

Our policy makers can’t even manage thermal power. How will they manage nuke power?

Some members of the Indian Parliament may have been looking for long term ‘financial’ security during the debate on the recent confidence motion. That sure helped the UPA government survive. And now, spin masters of the Congress are going to project the nuclear deal as something that will bring electricity to the humble house of the aam aadmi. Indian politicians crave ‘power’ at any cost; Indian voters too crave for ‘power’, albeit of a different kind, the kind that helps the electric bulb glow. So will the nuclear deal help the aam aadmi access power? Not by a mile if the present policy regime – completely subverted and perverted by corporate wars, vested interests, outright theft, loot and corruption and blind sided regulation – continues.

Let’s look at some facts. In the Tenth Five Year Plan, the target capacity addition was 41,000 MW. The actual achieved was just about half of that – 21,000 MW. Such ‘small’ discrepancies do not bother our policy makers. The target for the 11th Plan was raised to 78,000 MW. That means India needs to add 16,400 MW of power capacity each year between 2007 and 2012. The actual achieved in 2007 was less than 5,000 MW. Even if the performance improves from now on, don’t expect the 11th Plan to add more than 40,000 MW. In effect, assuming demand growth to be constant, India Shining would have created a shortfall of more than 60,000 MW in just 10 years. We all know that demand growth has been much higher since 2003 when the Indian economy started growing at 8% to 9% every year.

Now you know why you and your family, office, factory and shop face such devastating power cuts day after day. Thanks to these shortfalls, ‘power’ remains as elusive for the Indian villager as the PM’s post for L.K. Advani.


Source : IIPM Editorial, 2012.

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Thursday, November 22, 2012

RACISM: ABORIGINALS

An apology is good; money, better

The Indian children in Canada were dragged to Christian schools where they were forced to forget their indigenous culture, language, religion and customs. They were separated from their families, leading to drug abuse and personality disorders. Some 1,60,000 students passed through these religious schools between mid-1800s to late 1960s.

Ergo, is an apology well started? Yes! Enough? Absolutely not! Governments must encourage unequal advancement of the socio-economic development of these groups. And why? Statistics by UN as well as global governments clearly prove that these groups have low records in all socio-economic indicators – be it education, health or economic conditions.


Source : IIPM Editorial, 2012.

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Hey King, how ‘bout a last waltz?

The occurrence of the sub prime crisis and oil price hike at the same time defies conventional theory and logic

While Mr.Bush might browbeat the world into believing that it is the insatiable appetite of India and China for food and fuel that is to be blamed for the exponential rise in the price of both, a closer scrutiny of the chain of events as well as a glance back at US history of instigating global turmoil would reveal that things are actually far more intriguing than what they actually seem.

The US modus operandi has always been to instigate a political crisis in a land obviously rich in mineral resources – act as a ‘saviour’ in that ‘crisis’, spend tens of billions during the course of the event, unleash an economic or military blitzkrieg, reduce the mineral rich state to rubble, call a UN General Assembly meeting, make the world pay for the reconstruction of the destroyed places, the contracts of which would go to US backed companies, increasing demand for construction material to be supplied by US, in turn reviving the US economy. Simple!

The world knew for long that ‘Saddam Hussein’ and ‘Weapons of Mass Destruction’ were just lame excuses. The real reason was to take control of one of the largest global oil reserves and thwart further attempts to trade oil in euro, as that would have been the death knell for the biggest brand US has created, i.e. the dollar. Presently, while Bush would like us to believe that the US too is suffering much due to the oil price hike, what is not told is the way the US is profiting through windfall profits from Iraqi oil and from huge refining margins its companies are earning.


Source : IIPM Editorial, 2012.

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