My views

Happy Diwali

2009-10-17T01:09:00.002+05:30

Wish you all a Happy Diwali

Kindest Regards,

Kunal

PS : Do your bit, just Light a Diya and LG will donate Rs. 1 to CRY for every Diya you light.

http://www.in.lge.com/lgdiwali/LightDiya.aspx

Hi!

2009-03-11T16:18:00.004+05:30

Hello friends,

I am writing something after a long time.

The world is seeing a lot of change everyday.

The financial crisis just seems to getting worse and affecting more lives. Iconic brands which stood for a generation are collapsing. Ford, Jaguar Land Rover, General Motors, Citi and you will get many more to add. Even Berkshire Hathaway reported a drop in book value since the current management took over more than 4 decades ago. And, the current management represents none other than "The Oracle of Omaha - Warren Buffett." The crisis has spared none.

Pakistan, our neighbor, has become a State which is unstable and a threat to the world. There was a dramatic coupe in Bangladesh. Preliminary reports have indicated the hands of Pakistan, yet again. There was an attack on the Sri Lankan cricket team.

Oh and how do we forget Slumdog Millionaire. The movie that has swept awards across the globe. It shows yet again that there exists a "Third World", which is the fancy of millions.

Well, would like to share a lot of views soon.

Bye,

Kunal

Satyam : A nice take!

2009-01-22T21:16:00.001+05:30

Rs.7,000 Cr. scam at Satyam Computer Services - Jan'09

A week to remember or forget?

2009-01-08T23:10:00.003+05:30

Hello friends,

The first week of the "Happy New Year" has been not so happy.

The terrorists in Jammu and Kashmir, fighting on for the last 8 days now. Remember 26/11 ?

The big, horrifying story of a well known, reputed, trusted name called "Satyam". ( I must admit that personally I never liked the company as an investor and I am sure it did not make any difference to anyone. But, a company with a promoter holding with what the promoters held in Satyam and also the corporate governance issues raised earlier as well never gave me the comfort that I feel while investing the little money that we have in equities. I never thought of Satyam, never ever, as I would and do for Wipro, TCS and Infosys. ) There will be a lot of questions asked and many wonderful solutions provided. What could have been done, needs to be done. But, what people would fail to understand is that there is no solution to satisfy greed. The loss, a whopping 80% loss in value in a single day and more to come.

The striking employees of the oil firms have almost brought all of us here at India to a halt. Till now, as I watch news channels beaming that in all the major cities almost 70-80% of fuel pumps are running dry. There are flight delays. We don't know if we would get our cooking gas delivered on time.

Bye,
Take care

Happy New Year!

2009-01-01T21:21:00.002+05:30

Hello friends,

I hope the New Year brings with it new hopes, new light and peace to all of us.
Wish you all a Happy New Year.

Happy Holidays and Merry Christmas

2008-12-24T21:59:00.004+05:30

Hello friends,

Wish you all a Happy Holidays and Merry Christmas.

Love,

Kunal

Politics has no ideology.

2008-12-07T16:44:00.002+05:30

Hi friends,

I have always believed that, politics and ideology don't go hand in hand. The politicians who claim to play politics of ideology are white collared liars.
With the recent terror attack on Mumbai, the political activity did intensify at the national level. First to go was the Honourable Home Minister of India, then the Deputy Chief Minister and State Home Minister and also the Chief Minister of Maharashtra. The dirty politicians had no shame in politicising the attack and the sacrifice of the people.
A very good example, I can cite to prove that politicians have no ideology is of Mr. Narayan Rane. An ex Shiv Sena and now also an ex Congress leader. He wasn't made the Chief Minister of Maharashtra after Mr. Vilasrao Deshmukh resigned and hence became a rebel. Criticising the actions of his former colleagues in public. This proves that politics has no ideology. For years he subscribed to the ideology of Shiv Sena ( if they do have any ) and one fine day, he joins Congress and subscribes to their ideology ( if they do have any). I don't think that this matter even deserves any more comments.

Bye.

World AIDS Day

2008-12-02T22:56:00.003+05:30

SPREAD THE WORD..
NOT THE VIRUS!
STOP AIDS!

World AIDS Day.

www.avert.org

Give it a thought.

2008-12-02T22:40:00.003+05:30

Yes, I believe.

Mumbai : One more attack!

2008-11-30T18:55:00.004+05:30

Mumbai

A city of dreams that millions of others like me call home.

Some of you may fume at me for saying one more attack, but yes that is what has happened. In a ghastly act of terror, terrorists attacked the city and the battle last for almost 3 days. All the news on the terror inflicted by these terrorists is out there and saddens us.

South Mumbai was the target. The Taj and The Oberoi - Trident both 5 star hotels located at plush locations were the target. Also, Nariman House, which houses several families was attacked. Damage was done at Chattrapati Shivaji Terminus (CST) railway station , Cama Hospital and on the streets of Mumbai. Innocent lives fell to the bullets, so did our brave men who were fighting for us. The military forces had to step in to save Mumbai from this war. Finally, after almost 3 days of exchange of fire, Mumbai was freed.

The freedom came at a cost of the material damage caused to the hotels, innocent lives lost and sacrifices by the security forces. The losses to the Taj Hotel alone are being pegged at $ 100 million, which would definitely be insured. The only message we get, yet again, the colour of blood is red.

There will be many debates held for who is responsible for this and what could have been done or what should be done. But whatever be the outcome, it is a know fact now that the human race must accept that we are vulnerable to acts of terror. There will be some political action as well. By this time, the Home Minister has resigned taking "responsibility" for the attack. There will be some more political hot fire and this will certainly influence the decision of voters in the coming elections. But, the terrorists do not attack after thinking which political party is ruling or who is the leader.

I salute the heroes, our martyrs and pray for the souls of the innocent lives lost and express my condolences to the bereaved families.

Take Care.

Time to Stop & Stare

2008-11-23T13:20:00.001+05:30

What is this life if full of care

We have no time to stand and stare?

No time to stand beneath the boughs

And stare as long as sheep, or cows.

No time to see, when woods we pass,

Where squirrels hide their nuts in grass.

No time to see, in broad daylight,

Streams full of stars, like skies at night.

No time to turn at Beauty's glance,

And watch her feet, how they can dance.

No time to wait till her mouth can

Enrich that smile her eyes began.

A poor life this, if full of care,

We have no time to stand and stare.

William Henry Davies 1871 - 1940

This one's one of my favourite poems.

Hi friends

2008-11-18T20:49:00.002+05:30

Hi friends,

Hope you all are doing fine.

The world is changing. The Presidential elections in the United States of America have come and gone and they say history has been created because its the first coloured President elect. The financial turmoil still seems to be unfolding and the world is desperately looking for some measures from the governments. Economies going into recession, people losing jobs and falling housing prices. The only comforting factor is the fall in the price of commodities to realistic levels and hence the fall in cost of living, at least somewhat.

I have joined Axis Bank as an Executive and therefore am unable to update my blog.

Bye. Take care...

Kunal

Getting worse in Bombay

2008-10-29T19:33:00.003+05:30

Its getting worse in Bombay.

There are many innocent deaths caused in the ongoing political battle, which is useless, moral less and irrational. The politicians are using the unsuspecting followers as scapegoats.

2 deaths in the last 3-4 days have taken political turning.

In the first instance, a gun man was shot dead by the police in an encounter. The politicians and the media have already made the boy, Rahul Raj, a victim of police cruelty. The whole issue has risen because the boy was from Bihar. The politicians were quick to jump in. I wonder if the police were to carry out its duty with the thought of what political implications it may have, it would be as if they were to call up the politicians before taking any step. If a man with gun and bus and passengers as hostage is innocent, the definition of innocence has certainly changed. The police action of firing is a subject of debate. The dirty politicians have not even left the Jamia encounter.

In the second instance, a man was beaten to death in a local train in Mumbai. Dharmaraj, is certainly a victim of hate crime. Again, a man from Uttar Pradesh. This is a shameful act on the part of the perpetrators. A man leaving for his hometown to celebrate Diwali was killed by lunatics. This is not just a crime against north Indians but against humanity. We must condemn it.

We need to differentiate between the two deaths. One was a gunman and the other an innocent traveller. The choice is ours to make.

Take care.

Happy Diwali

2008-10-27T21:03:00.005+05:30

Have a beautiful
and shimmering
DIWALI

''THERE ARE TWO WAYS OF
SPREADING LIGHT;
TO BE THE
CANDLE OR THE MIRROR
THAT REFLECTS IT''

Edith Wharton

Adding to the pain.

2008-10-24T15:23:00.002+05:30

Hello,

There's nothing new to add. The governments all over the world are providing capital to banks and also guaranteeing deposits to reassure the depositors that their money is safe. People losing jobs. Asset classes correcting. Yes, there are people in this world for whom commodities are an asset. Wonder if many people get access to even the basic commodities. Its just compounding and adding to the pain.

Its bad in Bombay

2008-10-22T15:37:00.002+05:30

Hello,

Its getting bad in Bombay. Or, should I say Mumbai otherwise MNS will blackout my blog.

Yes, that is where the problem is. Going forward, I wont name any of the parties, which includes the political parties and the dirty politicians. The dirty games being played by the parties involved is hurting the innocent for no fault of theirs. With no intervention from the police or the State government until the damage is done, I feel that the State is playing part in the dirty politics. If they are so incompetent, we should have President's Rule in the state.

Take care.

The festivals are coming, no one's cheering.

2008-10-18T19:09:00.002+05:30

Hello,

Hope all are doing fine.

Its that time of the year when we like to see the festive spirit and joy on the face of the people. 10 days from now, we celebrate our biggest festival '' Diwali '' in India. Diwali - the festival of lights. Then in the west we have Christmas (holidays) coming and i really wish that Santa bring us a bag of goodies which helps us overcome this turbulent times.
People are losing jobs. Many have committed suicide. Its getting worse. Really feel sad and sorry for these people.

Take care.

Wells Fargo gets Wachovia

2008-10-15T23:08:00.001+05:30

The Federal Reserve has approved Wells Fargo's takeover of Wachovia Corp. This comes after the deal between FDIC and Citi to takeover the banking operations of the troubled lender. Wells Fargo stepped in and offered to buy the whole of Wachovia and the management approved it. Citi has filed a suit and will pursue it because it has lost a chance to gain scale and access to a large deposit base which would have definitely helped it in today's troubled times.

Another bad week.

2008-10-11T11:22:00.004+05:30

Hello friends,

Its been another bad week for us in the financial turmoil that has now engulfed the world. No one is being spared. The '' insulated '' economies are also seeing their economic growth slow down and markets take a free fall. The money markets are very tight with no liquidity as banks no longer trust each other and the depositors no longer trusts their banks. Across the globe, central banks, the governments are coming out to assure the depositors that their money is safe. Its a situation where in the central banks have to rein in inflation as the prices are soaring, although there is relief now that prices of many commodities like crude oil and metals have corrected significantly. At the same time, the markets want liquidity as there is huge dollar outflow on account of the investment pullout by the Foreign Institutional Investors (FII's) and hedge funds. The dollar is going strong by the day as their is a short supply and a huge demand for it. Some central banks have had to release dollars from their forex reserves. The central banks across the globe have cut rates in order to infuse liquidity into the financial system.

The Indian indices have had a free fall this week, so did the Dow Jones and other markets. I think of the stocks I hold which are now trading at 1/4 th their values and in some cases even lower. I have learned a new term this week :

Capitulation :
A military term. Capitulation refers to surrendering or giving up.
Investopedia defines it as '' In the stock market, capitulation is associated with "giving up" any previous gains in stock price as investors sell equities in an effort to get out of the market and into less risky investments. True capitulation involves extremely high volume and sharp declines. It usually is indicated by panic selling. ''

Now, this is where I have some hope.
Investopedia says : After capitulation selling, it is thought that there are great bargains to be had. The belief is that everyone who wants to get out of a stock, for any reason (including forced selling due to margin calls), has sold. The price should then, theoretically, reverse or bounce off the lows. In other words, some investors believe that true capitulation is the sign of a bottom.

Take care.

Gujarat welcomes Nano

2008-10-08T20:56:00.003+05:30

Hello,

Tata Motors' Nano has found a new home for its mother plant in the ''most enterprising state in India - Gujarat.'' The chosen site is Sanand, near Ahmedabad.

Several states were vying for the project after the Singur pullout. The state of Gujarat offered the best deal with the state in possession of the land offered. What ever be the other sides to Mr. Narendra Modi, the Chief Minister of Gujarat, he has proven why Gujarat is the preferred destination for businesses and the most enterprising state.

While awaiting the Sanand's plant completion, Tata Motors will manufacture the Nano at its plants in Pune and Pantnagar for a launch, albeit with lower volumes.

I am awaiting the launch of Nano.

Now over to Europe.

2008-10-07T13:12:00.004+05:30

Now its the Euro zone which is beginning to fallout.

Earlier in the week, a group of German financial institutions extended a multi-billion EUR credit facility to Hypo Real Estate AG. But, that wasn't enough, it needed a EUR 15 billion guarantee. German finance minister Peer Steinbrueck said on Monday he would not rule out an increase in State-backed guarantee for the country's fourth biggest bank, in what is already the biggest financial bailout in the country's history.

Fortis : The operations of Fortis in the Netherlands have been nationalized. BNP Paibas has taken over Fortis's assets in Belgium and Luxembourg for EUR 14.5 billion. This is after the capital infusion of EUR 11.2 billion by the three governments only two weeks ago.

Its only getting worse day by day.

Prayers!!!

All's not Well(s) for Citi

2008-10-07T12:40:00.004+05:30

Wells Fargo has stepped in with a $ 15 billion offer for Wachovia. The deal offers to buy Wachovia as a whole business unlike Citi's deal with FDIC which only offers to take over the banking operations of the troubled bank.

Quote:

Wells Fargo, Wachovia Agree to Merge
Creating Premier Coast-to-Coast Financial Services Franchise Without Government Assistance

San Francisco — October 3, 2008

Wells Fargo & Company (NYSE:WFC) and Wachovia Corporation (NYSE:WB) said today they have signed a definitive agreement for the merger of the two companies including all of Wachovia’s banking operations in a whole company transaction requiring no financial assistance from the Federal Deposit Insurance Corporation (FDIC) or any other government agency.

The full text can be found at :
https://www.wellsfargo.com/press/2008/20081003_Wachovia

Unquote.

This has lead to a legal battle between Citi, Wachovia and Wells Fargo. At a time when JPMorgan and Bank of America have taken over businesses and increased the size of their operations and business, Citi is missing out on the ride. The Wachovia deal, if it goes through, would give Citi access to Wachovia's deposit base and the branch network.

For now, its over to the court.

Yoga & Technology

2008-10-05T15:59:00.001+05:30

Yoga Camp for Google Chrome Users in India from Digital Inspiration

Dire Straits!!

2008-10-03T20:41:00.005+05:30

Its ''Dire Straits''.

The credit crunch caused by the sub prime crisis in US has spread to Europe.

Fortis got capital infusion of EUR 11.2 billion from the governments of Belgium, Luxembourg and the Netherlands.

The UK's 8th busiest mortgage lender-Bradford and Bingley (B&B) has been nationalised. Earlier in the year, Northern Rock had tumbled.

Dexia - short term has no future, this is what its website says. Had it not been for the capital infusion of EUR 6.4 billion by the governments of Belgium, France and Luxembourg and from existing shareholders, Dexia's future would be in doubt.

A consortium of German financial sector firms stepped in with a multi-billion Euro credit facility to Hypo Real Estate Holding AG together with its subsidiaries for protection it from '' the current malfunctioning of the international money markets.''

The London Inter-Bank Offered Rate for USD LIBOR, cost of borrowing dollars, the rate that banks charge each other for such loans touched an all-time high of 6.88 % on 30 September, 2008. Its a double whammy for borrowers because people cant buy dollar at the current prices to repay a loan. The USD has appreciated against all the major currencies.

The Russian government has also pumped in billions of dollars into its financial system, so have the British, the US and the European governments. The role of the central banks has become more dynamic and demanding.

But, the world is flat and changing even faster.

Take care.

Kunal

Tata: Bye, bye Singur

2008-10-03T20:29:00.002+05:30

Hello friends,

Its final, Tata Motors will pull out of Singur. This draws the curtains on the long going political crossfire between the Trinamool Congress and the West Bengal government.

Mr. Ratan Tata has stated that they will fulfill their commitment and roll out the Nano as per schedule. Tata Motors is yet to evaluate the financial impact of the pullout from Singur. But its a nobrainer that this will run into several crores.

The Singur fiasco highlights that even after the abolition of the License Raj and in the 21st century, politicians are there to creat trouble for the people. Political ambitions rule above welfare and development.

Wachovia goes to Citi

2008-09-30T22:39:00.003+05:30

New York based Citigroup Inc. takes over the banking operations of Charlotte, North Carolina based Wachovia Corporation.

In a transaction facilitated by the FDIC, Citigroup has agreed to take over $42 billion of losses and take over a whooping $312 billion pool of loans. The FDIC will absorb losses beyond that. In return, the FDIC will receive $12 billion in preferred shares and warrants. To shore up its own balance sheet, Citi will halve its dividend and plans to raise $10 billion via fresh issuance of shares.

The developments come in the light of the sub prime mess which has already destroyed Bear Stearns, Freddie Mac and Fannie Mae, Lehman Brothers, Washington Mutual, Merill Lynch and a host of small financial institutions. This shows how dire the conditions are in the banking industry. Before the FDIC stepped in, Wachovia was in talks with prospective buyers but couldn't strike a deal. Its ''Dire Straits'' on Wall Street.

Wachovia depositors can be happy for now because all their deposits are safe. But, there is nothing to cheer for the sharholders. The Wachovia stock fell more than 85% on Monday from its previous close of $10.

Take Care

Two Indians jailed in UK for raping a prostitute

2008-09-28T21:24:00.003+05:30

An act of shame!!

My fellow citizens, Read this...

London, September 28: Two Indian immigrants have been convicted and jailed for raping a prostitute in Swindon in February, and face deportation to after India serving half their sentence.

Arvinder Singh and Karnail Singh, based in Southall, were sentenced to imprisonment last week after a jury found them guilty of brutal attack on the unnamed prostitute. Arvinder, 22, was jailed for eight years while Karnail was imprisoned for seven years.

The two were electrical workers and came to Swindon to work at a property on Manchester Road. On February 6, they reportedly lured a prostitute inside the property and attacked her.

After dragging her upstairs Arvinder pulled out a clump of her hair while Karnail slammed a sash window shut on her fingers as she tried to get away. Both men then raped the woman, first forcing her to perform oral sex on them and then having intercourse.

Police who examined the scene a few days later recovered a condom from a flat roof at the back to the house. It contained DNA linking Karnail and Arvinder to the attack.

After arrest, they both denied having sex with her even after being presented with the forensic findings. But at trial they said the prostitute consented to sex after trying to cheat them out of money.

Now, I am not trying to typecast ourselves, but this doesn't present a good image of Indians to the world.

Another weekend, another blast.

2008-09-28T21:09:00.002+05:30

Its another blast this time, with a relatively low intensity at Mehrauli, Delhi. While the victims of the 14 September, 2008 serial blasts are still trying to get back to life and the security agencies having claimed to got hold of the masterminds of the blasts, there is another strike.

This incident only shows how vulnerable we are to terrorist attacks.

WaMu goes, who's next?

2008-09-28T20:49:00.003+05:30

Hi friends,

Washington Mutual (WaMu) is the latest casualty of the sub prime mess.

The last quote was,

Washington Mutual, Inc.

WM $0.16 -1.53 (-90.51%) 4:14 PM

After it failed to find a suitor, the Federal Deposit Insurance Corporation (FDIC) stepped in. The seizing of WaMu by the government speaks of the magnitude of the problem that still looms at large. Washington Mutual's fallout is the largest bank failure in US history, unless we see a larger fallout in the coming months.

JPMorgan takes over WaMu in a deal between the FDIC and JP Morgan for $1.9 billion. And yes, JPMorgan does take over the bad loans and the deposits of WaMu.

Ironically, JPMorgan was. Back in the spring of this year, JPMorgan offered $8 a share for Washington Mutual, only to be turned down in favor of a now-regrettable $7 billion infusion from private-equity firm TPG (Texas Pacific Group). WaMu shareholders, including TPG are definitely big losers in all of this.

Despite the write offs over the last couple of quarters, financial institutions are still feeling a pressure on their balance sheets. The problem seems far from over because housing prices are hitting new lows and with these fallouts the number of people being rendered jobless is also rising.

The lates news doing the rounds is that Wachovia is looking for suitors.

Watch out!!

I have sourced some of the news from fool.com

Lyrics Plugin

2008-09-28T16:52:00.002+05:30

Hi friends,

I found this wonderful plugin on a blog. I am sure you will like it. Moreover, its free. Grab one now.

Lyrics Plugin

http://www.lyricsplugin.com/

Lyrics Plugin is a piece of software tailored for music fans. To put it simply - it is an add-on to view lyrics in WinAmp or Windows Media Player. No more searching for lyrics. Just start listening to your favourite songs and lyrics will be displayed automatically. Oh, and if lyrics is not found, you can add it yourself :)

A flower

2008-09-26T13:24:00.001+05:30

Hi friends,

Just thought of sharing this flower with you.

Federal bailout!!!! Who bears the cost?

2008-09-23T22:45:00.003+05:30

Hello,

On Friday, the Treasury Secretary, Henry Paulson addressed the media with the details of the bailout package. The markets rallied. The amount of the bail out will easily reach a trillion dollars!!!! Announced bailout is of $700 billion. And, add to the existing huge amount of debt the US economy is sitting on. On the personal front, I strongly feel that governments should not step in to correct the fallacies of the private sector. We must not forget that these very financial institutions which are in trouble now, have reaped huge benefits in the past from selling the very instruments which are today responsible for their collapse.

As it is rightly said, '' Don't pray when it rains, if you don't pray when the sun shines.''

Salute to a martyr

2008-09-21T16:45:00.002+05:30

Hello,

martyr : one who chooses to die or be put to death rather than renounce his faith; one who suffers greatly

It was his faith and belief and his commitment to his work and people that Inspector Mohan Chand Sharma rushed to Jamia Nagar to raid a house where terrorists were holed up. He could have stood by his sick son's bed in hospital, undergoing blood transfusion and ensure that the dengue is killed.

The Delhi Police raided a house in Jamia Nagar where the terrorist were holed up. A fierce gun battle followed and some of us saw it live on TV. Its different from what we see in the movies, where everything is in a controlled environment. Two terrorists were killed and Inspector M C Sharma sustained 3 bullet injuries, to which he eventually succumbed.

The nation mourns the grief of a real hero.

What I would like to say is that, the terrorists killed were also human beings, but their acts of cowardice and inhumane nature. They are anti-social elements. We would never grieve their deaths. But, the sacrifice of a man who stands up and fights for a cause and his people. Like M C Sharma did. I remember a poem from my school days... '' Home they brought her warrior dead. Neither she cried nor she wept..... ''

AIG gets Federal support

2008-09-17T22:28:00.002+05:30

Hello,

America's Federal Reserve Bank has extended a lifeline of $85.00 billion to the troubled insurer
American International Group (AIG). AIG, one of the world's biggest insurers with operations across the globe was on the brink of collapse. The AIG stock was trading at $2.27 (losing $1.48 down 40% over its previous close) at 1:00 pm EST, with a market capitalization of $10.08.

Why did the Federal Reserve step in to bail out AIG? Well, the answer lies in the question.

The arrangement

The deal gives the US Government a 79.9 per cent stake in the insurer. The central bank hopes that the rescue loan will halt plummeting financial markets, which are already reeling from the collapse of Lehman Brothers and sale of Merrill Lynch at the weekend.

AIG will pay a high rate of interest for the two-year loan and the US Government will have the right to stop payments of dividends to shareholders

The rescue of AIG comes as a surprise, especially after the Fed indicated that it will not bail out or rescue any more financial institutions. It will also be a topic of debate worldwide because a central bank cannot go on bailing out financial institutions from the tax payers' money. Most recently, the Government agreed to prop up Fannie Mae and Freddie Mac, the US mortgage giants, to the tune fo $200 billion.

But the Fed rescue of AIG did little to comfort investors in Asia, who continued to pull their money from the insurer's savings products.

There were queues outside the offices of AIG and its subsidiary American International Assurance Company (AIA) in Singapore, despite assurances from the country's central bank that AIA had enough assets to meet its liabilities to policyholders.

With the upcoming elections in the US, the Democrats as well as the Repulicans would have to answer this.

Take care and watch out if your insurer is the next in line.

Singur : The stalemate continues

2008-09-16T20:15:00.003+05:30

Hello,

The stalemate never seems to end for the Nano project in Singur. There are signals from the Trinamool Congress (TMC) that it may again go for an agitation. The Tatas are reluctant to return any land from within the compound and the agitators are hell bent on getting back land from within the project site. The committee formed as per the negotiations between the TMC and the state government has submitted its report. The Tata Motors management was upset at their exclusion from the negotiations. The peoples car is yet to be launched, but has garnered enough controversy since its launch. Both for and against the car. Tata Motors have made alternate arrangements to produce the Nano at its Pune plant so that the launch is not affected. This would be of some inconvenience to its vendors who are setting up their plants close to the Nano plant in order to achieve cost efficiencies and roll out the car in Rs. 100,000.00 (US $ 2,500.00).

Well, we still need to wait and watch. And, if you are interested in booking your Nano, do keep checking the website of Tata Motors as it appears they may start online bookings. Again, cost efficiency!!!!

Take care.

Financial Disaster!!!!!

2008-09-16T11:50:00.002+05:30

Hello,

If the man made disasters and the fury of nature were not enough, we have got some more pain in the fallout of financial institutions. If the recent fall outs of Bear Stearns, Fannie Mae and Freddie Mac and a host of other financial institutions in the US were not enough, here comes some more pain.

Lehman Brothers will soon be no more. Merrill Lynch being acquired by Bank of America. And AIG is desperately trying to shore up its capital. For those of us who know what these names stand for, its a real shock. But not completely unexpected for the complex products the financial whiz kids hired by them created. You may say that I belong to the old school of thought. The implications of this failure are massive, and they'll be absorbed over a period measured in months, not days. For one, Lehman's 25,000 employees face an uncertain future. Its customers, many of them big financial institutions, will have to unwind what are bound to be extremely complicated transactions. And its jitters are being felt across the globe.

Andy Cross, advisor: Lehman is the latest financial butterfly to flap its wings, and it'll have ripple effects throughout the entire world of finance. What's interesting in this case is that the Federal Reserve put its hand up to say "enough." After bailing out Fannie Mae and Freddie Mac, and backing the JPMorgan Chase buyout of Bear Stearns earlier this year, the Fed apparently decided that Lehman did not qualify as "too big to fail."

Given the nature of the global economy, when the US sneezes the world catches cold. India is no exception to it. Also, some of the banks going bust have an existing business in India and a good amount of investments in Indian stocks. There is some pain in it for the Indian investors as well.

What one should do now? Should one sell out and get out of the markets or should one hang in there? Well, I am not an expert to advice on that. Its a call one should take based on his or her risk bearing appetite and other financial considerations.

I have sourced some of the news and quotes from www.fool.com

A bad weekend

2008-09-15T22:32:00.002+05:30

Hello,

It was indeed a bad weekend for us.

Serial blasts rocked Delhi and claimed innocent lives and leaving several families in grief and sorrow and a nation in shock. The politicians are fighting among each others as if "any politician has ever averted a terrorist attack." Some self proclaimed experts are debating on the media channels asking for some or the other law to fight terror. Their reasoning is that several state governments do not get co ordination from the central government in getting a strong anti terror law as the ruling parties at both these places are different. So, the question arises here for all of us if there were to be 10 states in a nation and the nation is ruled by party X and say 3-4 states are ruled by parties other than party X, say parties Y and Z, wouldn't the central government protect these states. Would there concern be different towards these sates and its people. If yes, this is ridiculous. The citizens of a nation deserved to be treated equally irrespective of the fact that which political party is in majority and which party is governing them.

The need of the hour is to implement the prevailing laws effectively. To fight the internal anti social elements and eliminate them and also the cause. It doesn't matter whether the central or the state governments take the onus of doing the task.

The terrorists believe in " an eye for an eye." Well, Mahatma Gandhi once said and I firmly believe, " If the world believes in an eye for an eye, the world will be blind."

Let peace prevail......

Nuke deal fires up BSE

2008-09-08T22:04:00.002+05:30

The BSE (Bombay Stock Exchange) along with the NSE (National Stock Exchange) gave a thumbs up to the nuke deal. With the benchmark Sensex closing up 461 points and the Nifty 130 points. The notable gainers were the ones which are perceived to benefit from the deal. Suppliers of components, engineering majors, ancillary companies, power utility companies and a few niche companies. There was no pragmatic shift or change in the economy or the fundamentals for this rise. But, this is the nature of the market. The major beneficiaries of the deal would be the MNC's which have a dominant position in nuclear technology and would be supplying the same to India to build its reactors and power plants. Most of these companies are from the US, France and Russia. So, there is a reason why these nation pushed for India's NSG waiver. They see a good business opportunity in the ever increasing energy needs of the modern India.

Kunal

Singur : Pause

2008-09-08T21:52:00.002+05:30

Hello,

With the mediation of the Governor of West Bengal, there seems to be some sort of a settlement reached between the TMC (Trinamool Congress) and the West Bengal government. The outcome as revealed to the media is that there will be a committee with two members each from those against and for the project and they would have to submit a report within a weeks time. The news doing the round on various news channels is that some land which is inside the compound where the ancillary units are to be located will be given back to the farmers. One must consider the various developments that have taken place on this part of the land as it was filled and made suitable for construction of the ancillary units. Now this land would not be cultivatable. So, will the farmers who get their land back sell it for a higher price?

Tata Motors has not formally replied to the developments but it would be quiet obvious that they wouldn't be willing to part with much of the land. The settlement has imposed a halt on all the construction work going on in the disputed land. Any work can be continued only after the committee comes out with their report.

For now its a pause at Singur.

India gets NSG waiver

2008-09-06T21:31:00.001+05:30

Hello,

The new is out that India has finally got the waiver for its nuke deal with the US at the NSG (Nuclear Suppliers Group) at Vienna. The deal will now go to the US Congress for approval.

A Confession

2008-09-05T20:36:00.004+05:30

Hello,

Hope all are doing good. Well, its a confession that I must make, it is difficult to blog (rather say share my views) on each and every thing happening around us. You must have noticed that most of the recent blogs were about the Kosi floods and other local news.

My interest lies in the know how of what is happening around the world with our fellow human beings. The hurricane season has begun and its dangerous in the Gulf Coast, floods in Assam, Pakistani PM's convoy attacked, the global financial crisis, floods in Haiti, the upcoming elections in the US, and many more which I have missed. Perhaps it would be difficult for an individual to provide a comprehensive coverage of the global happenings. I hope that I can do a little bit of this by being able to share my view's on some of the matters. I did like to comment on finance and economies, but that is something which would be rather commercial or from the academic point of view. I choose to share my views on general topics because this is something that affects each and everyone of us. We can also discuss about sports and entertainment.

I enjoy playing and watching soccer. My interest lies in equities, investments, banking and corporate developments. Like to listen to music. I am like the boy next door but a little reserved or you could say introvert. But, once you get to know me... you did probably get bored of me... :)

I believe there are two kinds of people in this world, " The ones who eat to live and the others who live to eat". I am happy being a person who eats to live and I believe if one believes in this, living life will be a little easy because there are millions across the globe who do not get even a square meal a day.

"I have miles to go before I sleep........ " Pt. Jawaharlal Nehru........

Deal or(deal) No deal !!!!!!

2008-09-05T01:22:00.002+05:30

Hello,

With the recent revelation about the secret letter of George Bush in The Washington Post, the nuke deal between India and The United States is again languishing in danger. At the NSG (Nuclear Suppliers Group), there's resistance from Austria, Ireland, Japan, the Netherlands, New Zealand, Norway, Switzerland, and others. Also, China has come out in the open and has raised vocal objections against the "clean and unconditional" waiver. The question arises, whether India retains its sovereignty for conducting nuclear tests if the deal goes through or does the NSG stop supplies if we go in for tests, which is essential for development and security purposes.

One should not forget that for the deal in question, the central government in India was at stake.The government survived the trust vote amid the charges of horse-trading and this tamasha of the leaders of Parliament displaying stacks of cash on the floor of the Lok Sabha was telecast world wide. This isn't amusing for us, but at the international level it projects a poor image of the world's largest democracy.

Celebrations begin....

2008-09-03T23:28:00.004+05:30

Hello,

The holy month of Ramadan has begun. Also with the arrival of Lord Ganesha... its celebration time.

Let us hope that these bring some relief to all those who have been affected by the Kosi flood.
Now that the water level is not rising, there is the fear of epidemics and wide spread need for food, clothing and water to drink. The Indian Navy has come to the rescue of the flood affected along with the help of the Indian Army and the Air Force. Also the help of the locals is commendable. The corporates are jumping in with donations to the Prime Ministers and the Chief Ministers Relief funds. What needs to be ensured is that this help reaches the ones whom it is meant for. Although one cannot expect a 100% transparency in the relief work. The administration needs to make sure that the situation does not lead to "survival of the fittest" as all the affected are in need of the basic necessities to survive.

Coming back to Nano, it appears that the TATAs are moving out of West Bengal. This does not augur well for the industrial development of the State. All the proposed investments would have to be revised. The investors will re asses their decisions. The stakes are high, hundreds of thousands of Indians, who were waiting for the Nano would have to probably wait a little more as this has disrupted the production schedule and subsequently the roll out. Now what needs to be seen is that, will political overtures force the management of TATA Motors to say bye, bye to Singur or will some sense prevail. The state government should have played more active role in the negotiation. But one wonders if there was any need for one.

Wish that the God of new beginnings bring happiness and prosperity to all.

Monday blues

2008-09-01T16:01:00.003+05:30

Well a new week has begun, but with no sigh of relief on any front. We are still grappling with the grim situation in Bihar, the J&K row is far from over, also new flames of communal violence are erupting in Kandhamal, Orrisa. I am terrified at the though of this violence in Orrisa as it reminds me of the gruesome, heinous crime committed against the Staines.. two kids and their father were burnt alive. Were they causing any harm to any one.. no, they were just missionaries working with the underprivileged whom we all ignore. Still, they were charred to death by a ruthless mob. If this is what we call a secular nation, one must wonder what an nonsecular nation is like.

On the international front, hurricane Gustav has been declared dangerous by the American President after it devastated Cuba. Hundreds of thousands of Americans are fleeing Louisiana fearing the onslaught of hurricane Gustav. This shows, how helpless we humans are before the nature even with the most advanced technologies at our disposal.

God bless!!

No Nano plant in Singur?

2008-08-30T19:50:00.002+05:30

Finally the word is out TATA Motors asking its employees not to report at the Singur, WB site till the company considered the site situation safe for resumption for work. The news is out in the leading dailes and the electronic media.

It seems that the anti TATA lobby is finally moving ahead, on the other hand, TATA's have also informed the public that they would not hesitate to move away if the situation does not improve. The stakes are high for the company, the shareholders and the society at large. The cards are being played by the traunt politicians who claim to be the messiah for the farmers who sold their land for the project. Weren't they compensated adequately at the then prevailing rates by the acquirer? Greed is of no good to man. The politicians are fooling these greedy farmers to ask for more money or to disrupt the functioning of the plant set up there. This does not show a good picture for any corporate, who would now think before investing in a State where they are not wanted. No good samaritan would ever want to deal with such greedy people, who are ready to butcher the chicken which lays eggs.

In the coming few weeks it will be clear if the plant would be there or no?

My trip to Nayee Sadak

2008-08-30T19:30:00.002+05:30

Hello,

Today, I visited नई सड़क, दिल्ली for the first time. It was a good experience for me to see the Red Fort and जामा मस्जिद standing tall, each on the other sides of the road. I was there to purchase a book to prepare for an exam, I got the book. नई सड़क houses a lot of book stores, so you can find all the youth from colleges, from all faculties... some budding future engineers, doctors, teachers and all those who are on their way to become something or the other. It wouldn't be wrong to say that this is the best place to buy your books from if you happen to be studying at Delhi or have someone who can get them for you. The shops are all small and identical. The lanes are narrow, but the minds of the youth walking these lanes, shopping for books to study and pursue their dreams is broad and enlightened in thought.

But, be aware of the traffic as it is very crowded with people walking, cycle rickshaws and the cart pullers.

So now you know where to head for your books.

Bandhs!!!

2008-08-27T16:45:00.002+05:30

There are bandhs being called almost every part of our nation. Be it the separatists in J&K, or the Singur row in West Bengal, also the MNS chaos in Maharashtra. We shouldn't forget that only a week or two ago, during the bandh called by the VHP, many people lost their lives as they couldn't make it to hospitals. Is this the way that a civilised nation seeks resolution for its problem? And to boast of idependence only on the Independence Day and all the other days when a human being is not allowed to live with dignity is shameful. Its time that we all realise that true freedom and independence lies in the dignity of the individual and freedom of thougt and not in vandalising public property and harming our own people.

Kosi plays havoc in Bihar

2008-08-27T16:40:00.002+05:30

The rain gods have poured incessantly over the region of Bihar and in Nepal. The flow of river Kosi has changed tremendously. Some villages in the region are on the verge of getting wiped out. Almost 2 million lives have been affected, rendered homeless, nowhere to go, all their belongings lost, the only thing that they can do and I pray for is the safety of their lives. God bless them!

hello! my first blog!

2008-08-25T02:15:00.000+05:30

Hi all,

Good Morning

This is my first blog. Am getting started finally. I hope that my ideas and views get a large platform now. We can exchange our views on the latest topics that affect our lives. From global warming to the pot holes on streets to water problems faced by us. Hope that we are able to enlighten each others minds.

Let the revolution begin.

Regards,

Kunal