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Botch In Indian Corporate Governance.


An emerging industrial super power India is at crossroads, after the disaster of Satyam’s undermining ,disgraceful move to shift 1.6 billion to its Mayatas projects.

The integrity is at question, the audacity is at question, the Board is at question,the transparency is at question,,and the investors interest are at question.

The Indian corporate scenario was stagnant till 1990.After liberalisation, this sector has changed. India with 20 million shareholders, is one of the largest emerging markets in terms of  the market capitalisation.

The Confederation Of Indian Industry,took a special initiative to protect the small investor,and promote transparency within business and industry.

The Securities Board of India announced strict governance for public listed companies. More powers were entrusted to the Securities Board , after the Harshad Mehta  scam in 1992.

Amendments were made in clause 49 to move Indian companies rapidly up the business scenario. Foreign Direct Investments were  freely allowed.

 Indian companies grew in stature. The Information Technology sector made a rapid stride. Indians made good of the opportunity, There was a large scale take over of overseas companies by Indian business.

The Jaguar deal  is a fine instance of this elaborate agenda.

The Satyam episode has ploughed deep into the investor’s confidence, has ransacked the enthusiasm of the overseas financial institutions and has etched a black impression on the nascent corporate Indian culture

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Virtues Of Economy.


Virtue is best defined as a moral excellence.It is a conformity  to a standard of right.

The ethics in economy are moderated to convenience.Today the image of duplicity lingers.Corporates have two faces.A genil face is shown to the public gaze and a sinister face away from the populace.This is the doctrine of public virtue and private vice.

Recent virtues of economy are, theft,insider trading, deceit ,profit at all costs,greed and arrogance.

The latest addition  is laziness.

Top executives have minted money, by squandering the wealth of the company

Bribe and corruption have wrought massive furores.

Wrong policies have manipulated a thudding disarmament

These are the  organisation culture of today’s corporate world.Unquestionable material  resourcefulness promote degradation in character. Good character is an achievement , not an inherent trait.

Lazy portfolios have become a winning strategy according to Farrell.

If laziness ascends   the hierarchy, then greed, theft , deceit, bribe and corruption associated with  Machiavellian steal the show.They are the best ethics and formidable values that have to be imbibed by the human mind, that have to be assimilated  to dot as  a piece of sponge  absorbs water, that have to be  subscribed  with fervour and exalted  as a discernable demonstration. 

Virtue  has lost its footing, has lost its sense, has diffused into an incongurous entity.

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Satyam In Troubled Waters


Satyam Shivam  Sundaram.

Truth is God , God is beautiful.The truth, the conscious and the beauty are essence of  Divinity.

“Satyameva Jayte naanritam”

“Truth alone triumphs , not falsehood “-the origin is from Mundaka Upanishad.

Satyam( meaning Truth) computers ,has lost its name , both literally and metaphorically.

 1.6 billion  was to be deployed in a buy out of his Mayatas Infrastructure and Mayatas properties . this move triggered  the investors to protest.

Mayatas is an angaram of Satyam. A reversal of letters has reversed the credential of the Company.

Ramalinga Raju is in a soup. His family has 8.6% share in the company.His two sons are inthe Board , in the capacity of Vice Chairmen.The Board . comprising of Krishna Pelapu, T.R. Prasad former cabinet secretary’and am Mohan Rao , Dean of Indian Business school.

The Board passed the resolution and did not bother to get the consent of the shareholder.The investors were provoked, and old the shares in a quick motion.Raju was shell shocked. He sent signals of rapprochement ,but it was too late.

Four of the Directors have resigned from the Board., thus ditching the interest of the shareholders.It looks a though they are running away from  crucial decision. The Board meeting on the 10/01/2009 . is going to be a farce.

The World Bank has already barred Satyam from further contracts.

Ramaling Raju has brought disgrace too the business fraternity.

The company has to find a new team , to take care of its  cash rich ,factor about 5000 crores surplus .Will Raju actually quit such a flourishing company?If so , will he keep away from the management?

He may fix up a proxy team to take control of the management. The financial companies, like Aberdeen,Fidelity etc have 20-25 %, can convince the investor and usher in a new management.

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Spinach-Creditable and Credible.


An apple a day keeps the Doctor away, goes the maxim.

To me , it is little spinach a day ,not only keeps the Doctor  away, but keeps you hale and healthy.

Spinach has medicinal value.Dishes  made of spinach are tasty and nutritious.There are different spinach ,coriander, mint, drumstick,amarnath or araikeerai,vallarai,vendhayam,pirndai,and goonkora,manathakali..

Juices of certian varieties, chutneys porial and kootus, masials and soup kindle the tasty buds.

These spinach are rich in iron , vitamins and stimulate th digestive system

They enhance the memory andsuppress the heat in the body.They cure mouth ulcers and diffuse the congestion due to cold. The eye sight is improved greatly by profuse use of spinach.Arthiritis and body pain is subsides after consuming moodakathan keerai, a rare variety of spinach.

The complexion gets toned up by taking ponnagani keerai. and thiruvatchi keerai sorts out the kidney problem.Keezhanalli keerai cures Jaundice,and sets right the liver.

Spinach grown in an organic settlement is a value added product.

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Crude oil -Jump and Fall


The electrocardiogram report of crude oil is baffling and brings a myocardial infarction to the observer.

What a steep rise in early 2008 and what an animated fall in november 2008. It was 147$ in mid March ,and 39$ today.A drastic tumble.

As the surge was beyond comprehension, the downtrend is  also beside  irrelevance.

Both are unbelievable. Both make us look deep into the graph. Analysing we find ,  the upward march was transitory, the sudden spurt down will also be fleeting.

The cut in production of OPEC nations ,has not promoted the falling prices. This is bit confusing. The universal formula of supply and demand does not make much sense here.

The nations Venezuela and Saudi ,whose economy depends on oil resources are badly afflicted., by the oil’s thundering thuddy fall.

The OPEC , in its own interest and in the interest of the consumers, fix a price, which includes a reasonable profit.

The world stands to gain. Prosperity will bring cheer. Cheer will usher unity. Unity will lead to Peace.

Peace on earth and goodwill towards men is the God,s message delivered

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Economy subscriptions thoughts

Expanding Debt.


A petty shopkeeper got completely broke. Instead of bringing down the shutters, he reinforced his shop with high value goodies and catchy snacks.

I was shocked. What on earth the man is doing?Is he in his senses?How did he muster money to  give a face lift to his shop? As curiosity kills the cat, I made discreet inquiries,which revealed that he has borrowed money for high interest. I was muffled.

Can we term this economy as “Progressive economy”?

Well  the same dogma is followed by the U.S., in a gigantic scale.The doctrine of debt , has been put into force. Borrow more, spend more, keep the economy booming.

Printing paper money against thin air, and circulating it, will move the  stagnant economy is the Fed’s prscription.

U. S President elect Obama has drawn out plans to 700 billion$ to build roads and classrooms ,thus creating jobs.

The Fed has extended its balance sheet from about 900billion$to more than 2.2 trillion . The 1.3 trillion is a cooked up figure, which in reality does not exist.

Overborrowing has led to the present mess.Borrowing further ,with the aim to get out of debt trap ,is ignominous. It is a foolhardy attempt.

Postponing soberity and austerity will lead to great crisis

U.S. has to trim its expenses, practise frugality,and make amends for its reckless consumption and extravagant spending.It is a bitter medicine hard to swallow, but has to be pushed through the gullet ,to save the nation from disaster.

If not it has to go back to  the days of misery.

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Economy subscriptions thoughts

2008 – A year Not To Be.


Human tendency is to rave about the past.

Recapturing the past deeds, getting excited about the meritorious experiences, revelling on the glory of yore , has been practically followed by each individual. All rules have exception , but this one has none.

The year 2008 , has spelt disaster and dismal occurrences, that we dare not think about it for once.

As we break rules and conventions , for convenience , this retrospective theory has to be moderated.

What  year it was?hmmm— till a few more days to go.!

What a sudden shrivelling melt down, economy in shatters, finances in tatters,wages  in displacement, jobs in devastation .

The bruise has to be assuaged gently, has to be tended with care ,and smothered with gentle rub .

Too much caressing will lead to negation. Too much pampering will spoil the sport. Too much attention will render an irrelevant direction.

The world  economy is at the vertex, a slight  jerk will create a furore too deep to be appeased, a vigorous push will  proceed a tumble, too serious to be retrieved.

A gentle pat , a cordial gesture, a mild approval and a kind compliment will restore economy .

I mean these words both literally and figuratively.

2008 has come to a pass.

The next year 2009, should bring in lot of cheer, sense of joy , pride of well being.

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The Feverish Foible


Signals of  caution,

Swirl of derision,

Gestures of destruction,

Manners of  scandalisation,

Acts of defamation,

Laws of castigation,

Mark the execution,

of the soul.

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Digging The Roads.


I am a resident of an  area for the past 30 years.

In early 1980’s , we did not have proper roads, as it was a developing zone. We were in midst of paddy fields, and had to take a roundabout road to reach our place. Needless to say, it was a terrible experience,with carts, and animals crossing ,autos and lorries racing  in the debris.

India is a land, where the old and the new go hand in hand. With the advent of scientific techniques, the primitive method of cultivation is prevalent.

You can see bullock carts plying up and down, along with world’s best model cars.

In the 1990’s .the main road was laid and we had direct access to important centres . The circular adventure came to an end. But the roads were dug ,in a few months , for laying down drinking water pipes. They were then hastily filled with gravel. So we had 75% tar road and 25%gravel topped one.

The next year , it was again disturbed . This time it was for drainage purpose. The road had a second attack. The work being over, an haphazard filling was done. Now 50% of tar had been eroded.

We had to work on these half beaten cross ways. For a year , there was no activity. Then ,suddenly, the corporation authorities sent a battalion to inspect the condition of the road. They drew a plan, the expenditure was approved by the council. We were delighted.At last ,we had a decent surface to move on.

Our shortlived joy, found a devestation, when there was .hectic movments , on one fine morning. I rushed to the spot and enquired ,the workers, what were they up to?

They said they were digging , once again  for constructing trenches for rain water drainage.

Lo! what a sight !, what a plight! what a right we have as a citizen of this city!

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Obama Holidaying


Barack Obama  is holidaying in a villa in a seaside resort.

Perhaps , he is relaxing, relaxing both his mind and body, after a strenuous campaign.

He deserves it.

But the expeniditure  involved , is holding us back, is making us lift our eyebrows, induces us to frown.

When  U.S economy is running out of breath, when there is gloom and despair world over, when there is job displacement, when there is wage loss, when there are Madoffs cropping out to gulp other people’s  hard earned funds, Obama can practise thrift and moderate his expense.

Obama , as a leader should set an example to the otherwise extravagant nation.

U.S has learnt to spend less, has understood the value of money , has developed a conscious limitation  in its purchasing capacity., only recently and by a hard way.,after the downturn.

Obama .should  nurture the nation and restore glory.

Each and every move of his is watched carefully by the people.