Raj Thackeray : 1. Why Hindi?

Note: Since the national "Hindian" media is far too biased, Raj Thackerays' message has been wrongly communicated to meaning "Spreading Hatred" and "Anti-North Indian". That's not true. This series of blogs is meant to counter the mindless attack that's been unleashed by criminal politicians, rogue television channels (Sahara, India Today group and the countless Hindi channels). More importantly this is meant to clarify the underlying simmer thats' meeting with disgust from the online community.

Raj Thackeray started his campaign against "Cultural Violence" that has been unleashed by North Indians, by questioning the stature of "Hindi" and its' imposition upon Maharashtrians.

To start off, here are some parallel voices from India & Beyond (In reverse order to ensure continuity):

8. Hindi Imperialism: Article in Time Magazine

7. UNESCO: UNIVERSAL DECLARATION ON LINGUISTIC RIGHTS: A must read for all the experts appearing on CNN-IBN, Times Now etc, heres' what the UN has to say about preservation of a regions linguistic rights.

6. Did you know, the constitution of India is committed towards eradicating the use of English, and replacing the same with Hindi? [Indian Constitution Articles 343 - 351] Whether you speak Punjabi, Gujarati, Tamil or Marathi, you would never sound better than anything that speaks Hindi as his/her mother-toungue, and therein lies a natural disadvantage to get jobs, especially government ones!

5. "Making a language (Hindi) that is the mother tongue of a region of India the official language for all the people of India is tyranny. We believe that it will give benefits and superiority to one region (the Hindi-speaking region).... Danger to the people of Tamil Nadu because of Hindi becoming the official language of India is great" - C. N. Annadurai, Chief Minister of TN. [Complete Story & Mouthpiece for Tamil Sentiments about Hindi] [Recent Headlines from TN]

4. The 1940s, 1950s and the first half of the 1960s witnessed many anti-Hindi pro-tests in the form of public meetings, marches, hunger strikes and demonstrations before schools and Central government offices; black flag demonstrations greeted Central government ministers. Most of these were organized either by the DK or the DMK and the general public supported them fully. There were hundreds of such protests from Tamil Nadu and thousands were jailed. Several hundreds were injured when police used lathi-charge to disperse the peaceful protesters. Lal Bahadur Shastri, the then PM, even though supportive of the pro-Hindi group, came up with a set of compromises that denied Hindi the "sole national language" status, realising the seriousness of the issue. [Complete Blog]

3. The Hindi language has been projected as the language of Hindus and the language of the nation by both secular and Hindu nationalists. This paper examines challenges mounted against Hindi by the Dalit resistance movement during the past few decades. We argue that this challenge is part of the construction of Dalit identity which is defined in resistance and opposition to Brahmanism. In Dalit discourse, Hindi is viewed as a symbol of Brahmanism and thus a reminder of Brahmanic oppression. The Dalitist challenges to the dominance of Hindi appear in various forms; one such challenge is calling into question the numerical legitimacy on which the claim of Hindi as the official language of India is based. Rao (2001), commenting on a news report on the demand for creating a separate state of Mithilinachal for the speakers of Maithili, argues, ‘"Hindi" is not one language…. Rajasthani, Bhojpuri, Braj Bhasa, Avadhi and Mithili [sic] are deliberately misrepresented as `dialects of Hindi" when these are in fact independant [sic] languages with different scripts and grammars, and many pre-dating the Brahmins" Hindi’. - [Complete Paper @ NYU Linguistics Dept]

2. "The Hindi movement of nineteenth century intertwined with the cow-protection movement culminated in the naked manipulations of the constituent assembly debates and won the state-language status. But it was the tragic end of 'Godan', forecasted very early by Premchand!" [Complete Post]

Hindi, mis-represented as above is as mythical as many beliefs held by Hindus, and as the reality sinks in with the advent of knowledge and atheism, do we still deserve to be herded in this fashion?

1. Similiar Voice from Karnataka. "What's astonishing about the migrants is that instead of respecting the culture and language of the state which saves them from hunger, they misbehave and impose their language and culture on the local population - a behavior entirely unacceptable anywhere in the world. In advancing the "they are Indians too" argument in support of Hindi speakers when they are clearly culprits of linguistic and cultural crime, the media and the central government give the impression that Hindi speakers "are more Indian" than Marathis, Kannadigas and every other linguistic people in India". [Read blog]

"In 2005-06, seven of the nine states with PCNSDP higher than the national average, viz, Andhra Pradesh, Gujarat, Karnataka, Kerala, Maharashtra, Punjab and Tamil Nadu, are non-Hindi states (Table, col 3). Similarly, of the nine states whose economies grew at a rate higher than the national average over the period 1980-81 to 2006-07, five states – Andhra Pradesh, Gujarat, Karnataka, Maharashtra and Tamil Nadu – are non-Hindi states. Two of the remaining four states, Jharkhand and Uttarakhand, were created only in the year 2000 and in terms of economic performance their parent states – Bihar and Uttar Pradesh – are placed near the bottom, with ranks of 16 and 18 respectively"

Sensex at 8K

Ha!

There goes your de-coupling out the window Mr. FM. Make Shankar Sharma the FM instead, atleast when he reads "Danger" he doesnt translate it to "Go Ahead". What a mischief, what a fool we've (ordinary investors) been made. The dream team played real good poker, they convinced us to put everything on the table and didnt have the courtesy to say "Sorry" when we had our a$$es bared. That's Indian leadership!

Well, the faith in Indian Corporates and the foundations of this economy have been completely shaken, what looked like a country full of Buffets and Gates, is not increasingly looking like characters from the movie "Traffic". Every second day, an industry representative is making statements about alms (read bailout) being given to his/her industry. Real-estate, MF, NBFC, Airlines, Oil Cos, Metals, Non-metals and Exporters (well the list would have been shorter the other way round) are all out with a bowl in their hand. Why, Udayan even tried to distance himself with the hollow "bullish" sentiments that hes' been trying to steer, and should take a large part of the "moral" blame if small investors are running for cover. Most experts barring Shankar Sharma, are almost ready to form the "Yes I fucked up, but dont blame me.org" NGO.

In a world of serious coupling, and global reach, it would have been foolhardy to think that storms are only regional. No! This is a global economy in crisis, and we have to take part in the healing process, and if ever India needs to show its' leadership in the world economy.

Kumble Retires!

Old NPAs are being weeded by the BCCI and we are supposed to believe that "Cricketing greats are bidding adieu"

Kumble, if anything, was a prime beneficiary of a twisted "region-based" selection committee that is hell-bent on pushing players that represent their sporting zone or unit. That Kumble played for 18 years is quite amazing, since he bats like a moron, screams at other players when hes' bowling like a frustrated house-wife, and himself fields like a 50-year old. Yes, hes' a thorough gentleman, but that's his education, what qualities does he possess / did he possess to make him into a great sportsperson - none.

What is really disgusting is that while Vishy Anand was achieving the greatest Indian Sports feat, there was NO live telecast, nor any site streaming "live action" especially given that Chess is the simplest sport that can be brodcast using text. Those moves that Anand made were worth hours of debate and understanding, and we missed it completely, instead we cheer for "Jumbo".

Lets' just put up another statistic of "Kumble's run saved off his own bowling v/s the decibels he blurted out when his (disgustingly) straight deliveries were whacked and went past the nearest fielder at the speed of light". Just compare this to the great Vishy Anand and you'd know what I meant in the opening.

Thanks Kumble for being part of Indias' Cricket Team for 18 long years, but No Thanks.

Bharat Ratna: Vishy Anand

Vishwanathan Anand, retained the World Chess Championship challenge. Vishy has whipped Kramniks' a$$. Ok, that's my frustation of watching Kasparov making those higher than nigh statements after a really strong battle against a young Vishy eons ago. But that's history!

Vishy Anand, ruled the board in game 11, and gave away atleast two opportunities to take a more sombre line and take the game to a draw. That Kramnik fought very hard to make a opening towards a decisive end is highly commendable, he truly is the next superstar of Chess, but will probably never make it, as there's one bright shining light at the end of the tunnel, making him look ever so dull, and its' called the "Zillion watt Vishy Anand".

Emotions aside, a 6.5 - 4.5 drubbing marks the gaping hole that has developed between Vishy Anand, and the rest of humanity, its truly awesome to know that person at the pinnacle is an Indian.

Hes' by far India's true Bharat Ratna! Congratulations Vishy!

Love will keep us alive

Thanks Swapnali!

I was standing
All alone against the world outside
You were searching
For a place to hide

Lost and lonely
Now you’ve given me the will to survive
When we’re hungry...love will keep us alive

Don’t you worry
Sometimes you’ve just gotta let it ride
The world is changing
Right before your eyes
Now I’ve found you
There’s no more emptiness inside
When we’re hungry...love will keep us alive

I would die for you
Climb the highest mountain
Baby, there’s nothing I wouldn’t do

I was standing
All alone against the worlk outside
You were searching
For a place to hide
Lost and lonely
Now you’ve given me the will to survive
When we’re hungry...love will keep us alive
When we’re hungry...love will keep us alive
When we’re hungry...love will keep us alive

Love will keep us alive - Eagles

Remembering Toni

That's Lori Loughlin from Secret Admirer (1985), a teenage romantic comedy that more than made an impression. It was a beautiful cold night, and the whole movie, rather Toni, left me more than spell-bound, something that I kinda experienced very early on in my life.

The movie is really about Toni, and Lori plays the role to perfection, it hurts to know they are two different persons, rather ones' a character and anothers' a person, what shame.

I searched high & low for my own Toni, but I guess dreams always end when day breaks, and so it did for me. The harsh realities about what some girls represent, gosh, its' quite a pessimistic future for innocence and the quest for true love.

But then, life is full of surprises, admist the pessimism, Swapnali happened...

All said, I thought it wont be a bad idea to thank Lori Loughlin for giving me a truly unforgettable experience, of unconditional true love, the spirit of kindness, and the joy of togetherness.

Shopping Season 08: Endgame Begins!

The Grand Finale: Bear (B) vs Bulls (W) Championship of the Decade!

W: Chidambaram goes to town with "DECOUPLING"
B. Indian Inflation soars to double digits

W: Indian Markets Hit 21K
B: Seriously Deepening Credit Crisis Emerges through thick Clouds

W: Indian Real-estate market continues to clock a 50%-80% growth rate
B. Indian Rupee Starts with Super Slide

W: Indian FIN-MIN announces a 70K Crore Farmer Loan Waiver
B. US Economic Crisis Grips the American Financial System

W: India gets' entry into the Global Nuclear Club
B. Indian Economic Growth Forecast Downgraded to 7.2% for FY09 & 6.X% for FY10

W: Reserve Bank garners praises from WB & other states for its' exemplary role in fore-seeing economic crisis.
B: Lehman Brothers, Bear Stearns, Merrill lynch, Washington Mutual, Wachovia, AIG, B & B & Fortis disappear from the world in their true sense.

W: Crude hits the sub-$100 mark twice
B: Indian stock markets apes the road show currently going around the world to hit a new bottom for 2008

W: US Congress approves $700 Billion package, in an hope to control the storm.
B: US Congress sprays the $700 Billion package with monumental clauses.

Those were the moves so far, and in this game of chess, the end-game is approaching faster than anyone can visualize. There is only ONE outcome, a draw or a stalemate were ruled out way back, now from here on, its' winner takes all.

A few developments that will catalyse the end in Indian Context will be:
1. The Indian Shopping Season begins tommorrow, and you can almost taste the sense of thrill in the air, Honda City launches its' brand new edition, Real Estate in Mumbai finally relents, Malls, Traders, Brokers who were busy preparing for war during pitupaksha will finally begin their stampede from tommorrow. Diwali 08, has to see a strong buying season for the end-game to go in the favour of the bulls.
2. Crude has shown signs of relenting and possibly settling steadfastlily below $100, this will give the government a possible hope of doing election politics and bring down fuel prices, another crucial factor for the bulls.
3. Mutual Fund houses have been holding the Indian markets from a steep dive, but if the buying season's demand on liquidity leads to redemption pressure, it will be a major boost for the bears, they will have won 50% of their battle.
4. The US bailout is entering rough waters, especially given the fact that US faces elections soon, things can take a bad turn very quickly in the US, WE KNOW THAT FOR SURE!
5. Real-estate developers are facing a serious credit-crunch, if they start defaulting, then it'll possibly be the begining of an Indian Sub-Prime, rather an India Super-Prime Mortgage Crisis.
6. Reserve Bank of India is not lending support to the rupee even at 47:1, it possibly means they have read the writing on the wall, worst is yet to come. (Why do I see the bears dancing with joy?)

I can ramble on and on, bottom line, bring out your pop-corn and start embracing news - whatever it means to you - because, times will never get more exciting again in this lifetime.

Goodbye IE, its' Firefox+Chrome for me...

Blogging this via Chrome, it a genuine piece of brilliance that can only come from Google. The interface is clean and extremely intelligent, you can almost feel the amount of thought that has been poured into it, by folks who have a long history of producing brilliant internet apps.

Firefox has its place in the sun, rather it'll dominate my net-browsing sessions for a simple reason: addons. Nothing beats Firefox, not right now.

Makes me wonder what IE really has to offer?

XPS Finally Arrives

XPS 1530 is now part of my prized earthly possesions. The purpose of which is to help me stay put in this fast changing tech environment. My old PC, although still a worthy workhorse, was finding itself w/o support increasingly these days.

The goods and the bad about my new XPS,
Good
1. Its' Cool, Happening and very very powerful.
2. Vista is a toy so far, lets' see with Visual Studio and Eclipse running side-by-side...would be worth finding out.
3. Only game I tried was FSX, and it didnt perform very well, its' not a huge jump in terms of graphics performance...I've seen the things it had to offer.
4. Vista is paid for...and I am really patting myself for it. Besides the good looks, its' a real 21-st century OS, it almost feels like theres' a small little technician whos' able to guess what's wrong or where I can find some help. Beat that those so-called Linux "mainstream" OSes, you are still way outside the planetary system.
N. Cant remember the number in this list, doing this through a gadget?

Hell, I'll end this emotional outburst, and get back with a better review when I find some time.

CRR & Repo-rate actions of RBI

Dr. Y.V.Reddy announced the Credit Policy, and boy did the markets react or what? 550 points shaved off, and Udayan Mukherjee, the ever-optimistic bull, sounded gloomy for the first time I must add, in the years that I've followed him.

The last thng India needed was a tighter environment for equities, and th RBI with its' CPR actions has done just that. Interestingly Dr. Reddy outlined the following three reasons for Inflation:
1. Supply-side shortages - Fiscal policy issue.
2. Demand-side shortages - Monetary policy issue
3. "High-availability" of credit - Monetary policy issue

What he did not mention is the weighttages or the percentage contributions to Inflation of the above. Mr. FM has already clamped down on futures market in most food-grains like rice, oil etc. Besides the export of most of the "inflationary" commodities is already either banned completely or is curbed substantially.

The demand-side is where the action lies. By artificially inducing an environment to spend less, by making consumers pay much more (opportunity costs) for items is depriving the nation of consumerism. Why not simply remove the subsidies on farming and let the market then pay for the same? Inflation is a right-ful concern, but so are the basic needs of this generation!

Lastly, the diversion of funds from the sytem into the bank safe would mean the same, everyone has to shell out much more just so that poor sections can afford commodities that are having an intrinsic high value. That India is turning out to b a clamp for people with aspirations is very clear from the current actions of the RBI. This country is for labourers and black-money-proponents. Any other section is just meant for sucking value out of, to feed the classes above.

Highly disappointing day for the Indian Growth Story.

Remembering Ayrton Senna

The year was possibly late 80 or early 90, a time when India had not woken up to satellite television, and the world was still dark for an average Indian. The only window to sports outside were glossy sports magazines, and boy they left impressions.

One such magazine landed with me, and I was introduced to the phenomenon of racing called "Ayrton Senna". A wonderful story about a man, his machine and his sheer skills to rule speed. An ultimate boy wonder, a legend, and Ayrton Senna was at its' very pinnacle. The fascination grew to fanaticism when Ayrton Senna started appearing live on television sets and life seemed good when races captured the imagination of both the mind and heart.

The move to Williams was filled with excitement of witnessing history fortnight-after-fortnight. Senna's' wheels didn't turn to compete, they had only one goal, to win, and win with a margin. It appeared sometimes, he raced not with mortal racers but something far more than that. An era was unfolding.

Then the fateful day, the light suddenly gives way to darkness. I had never shed tears out of sheer grief till that day. It felt like something so dear to you and someone you took for granted has been so mercilessly taken away, that you are left hopeless.

Till date, I have never been able to accept any F1 driver as the champion, as the real champion lays in peace and the second-best continue to drive.

Rest in peace O lord.

Two cities under attack, will India reply?

This is serious!
Lets' vow not to forget the last two days. This no reality show that we are entertained with, nor are the victims and their wounds that are being aired live meant for TRPs. This is for real, if India was ever reeling under a need for definitive long-lasting action, its' now. For all the words that will be poured on this issue, I am shamefully adding mine, but in my case, I've an action plan.

1. Spend one hour daily surfing the internet for terrorist sites and newsboards. There is no doubt those behind the blasts are using the WWW for coordination. A billion eyes can surely catch them in the act.

2. Serious censorship is required on people like Mayawati, who try to communalize things like the Nuclear Deal! Senseless acts are causing India grave harm.
3. In-tolerance exhibited by Gujarat needs toning down, maybe its' time India learns its' religion management well.

4. Bring in watch-dogs for religious schools - dharmashalas, madrasas, convents et al. There needs to be a strong move to either ban them completely, or to bring them under tight scrutiny. Its' mindless to allow Education to be mixed with religion, especially charities.

5. Media should simply start ignoring these events. The only thing sought by the perpetrators is publicity, panic and fear. The media is giving them exactly these on the platter.

6. Restrain politicians from linking these events to politics. It started within an hour, with Mr. Advani asking for bringing back POTA. No act has ever been misused than POTA. it deserves to be abolished, and Mr. Advani should do some explaining what actions his' party's state-govts took when the intelligence about attacks was given to them.

7. Forget #6. That's impossible, I think the people of this country have to take upon themselves to rid the country of this menace.

8. Trace IPs, Ball-bearing sales, gelatin sales, cycle sales. Every citizen should note who in his neighbourhood has which vehicle, and who comes back without his vehicle after blasts. The nation needs to take responsibility.

9. If there are ghettos where the perpetrators live, then the entire ghetto is a culprit. All neighbours should be charged with crimes against humanity, and atleast lose their dignity, if not serve term or fine.

10. Lets' spread the word about the beautiful country, society, community we are all part of, lets' make hatred an endangered species.

Trust Vote: Thoughts

1. Bihar is blessed with some of the best politicians and brains within this country.
2. Crowning of the Congress GenNext is inevitable...
3. Congress successfully applied the time-tested methodology of "Use a thorn to remove a thorn", hell if it took money to bring brain-dead folks to toe the govt line, so be it. If MPs were indeed given money, it would represent the best investment UPA ever did.
4. Karated - A new phrase meaning, "to fall flat on your face on a rock-hard surface, while trying to maximize your ill-gotten fame". Undue lobbying almost always leaves you Karated.
5. Only P. Chidambaram has an organic human brain amongst all the politicians, remainder are just brain donation beneficiaries.
6. Do not surf using Linux, as that might corrupt your floor finish. No its' not absurb, atleast not to Mayawati, and her twistd logic.

Steal @ Croma, Malad

I saw one of the best deals in town on offer at Croma. A 32-inch Sony Bravia "V" series going for 39990. Yes, you heard it right, this is one of the best televisions in town and is going at a 15-20 % discount because Sony has launched a new line.

Go for it, the TV I've mentioned is technically superior to the LGs and Samsungs of the world.

That's the way the cookie crumbles

Inflation @ 12%
IIP @ < 8% (!!!)
Crude @ $130 (Riding down from $150)
Sensex @ 13K
Nifty @ 3850

What a story it has been in the last 35-40 days. Its' been all the way down south for all the bulls, their horns and their hoofs. Its' a no-hold-barred contest to hit rock bottom.

When even amateur economy watchers such as me can predict an imminent fall such as the one above, it becomes amply clear that bubbles and media-hype are true realities in todays day and age. Why even Idli-Dosa-Sambaram was tom-tomming his "de-coupling" theory, and one bull-rally (a hedge agasint the falling $ really) in crude & other commodities, and voila he forgets how "de-coupling" is even spelt.

What a dream team we had...but I guess they took the dream part too seriously, they kept dreaming while the Indian boat sailed through calm waters and into a torrential storm in the midst of no-where.

Good Luck in Elections!!!

Mumbai Indians: Les Miserables

What a team!

Disgusting, old, uncompetitive and above all pridelss! There is nothing to write about the character of this team. Its' is so very unrepresentative of Mumbai, a city of great talent, vision, dreams and hopes. The Mukesh Ambani XI unfortunately was allowed to use the name of a city, that never was meant for wealth-inheritors.

This city represents the go-getters, and for people who've got it easy, it will always be an alien. The Mukesh Ambani XI has done it again, a shameful defeat from the jaws of victory, that the Mumbai crowd poured its' heart into supporting this retirement plan for all current and future discards speaks greatly about the city, rathen than the team that used its name.

Hard Luck to you Mukesh Ambani XI, good luck next year!

Innocence Bleeding

Aarushi Talwar, a 14-year school student is butchered in the middle of the night in her own bedroom. Six days later, her father is arrested as the main accused. The TV channels are again at it, with 24/7 reporting (?) of the same clips over an over again. What led her father to take life away from his own daughter can possibly be never known, its' really difficult to imagine what a person like him really is made of.

That said, its' really the gruesome manner in which a father takes away life, shameful day of modern India.

My condolences to the innocent life lost to a moment of anger. My your soul rest in peace.

Inflation + IIP + Credit Cruch = Black Tuesday

What a week it's gonna be, expect the "leaders" to be down by 5%-7%, this on the back of some grave dangers that Indian Economy seems to be entering. Already there are news about "Food Riots" happening in various countries being reported by CNN (not a frivolous channel like Times Now or IBN-Vernacs etc.)

The earlier post about IIP hits home the underlying dangers lurking disclosure around 12-May. The Inflation has not only taken the steam out of the market, the FM+PM dream team appears exhausted by the unrelenting challenges thrown at the. By all accounts it appears to be in vain, rather like the last ditch efforts by a ship-crew trying to plug far more holes in it's walls than they possibly could imagine.

The farmers' subsidy, that golden liquidity, India has at its' disposal is about to be dispersed, and will be sucked away within days by hoarders, black-marketeers and politicians alike. Furthermore, credit-crunch all over the world means a 5% fall in Shanghai Composite, and a 3.5% one for HangSeng.

Wait and watch as the gloom of tuesday catches one and all on possibly the turning point of Indias' Bull Run.

Remembering Timothy Treadwell

Timothy Treadwell, a person who made a huge impression on wildlife enthusiasts all over the world, is remembered with fondness today, not for the controversy, or the tragic end, but for a way of life he discovered that billions never would. Stepping over that line that separates us - ordinary mortals - from that *something* that takes us ever so close to nature.

Leading the way with example, his unconventional approach to humanity and wildlife is as refreshing as most great people I've read about, alas he lived in times, where humans are hell bent on breaking the rules of nature and very little recognition goes by way of people who take the path less travelled.

I know you found peace, and pray that I find mine. Rest well.

Euphoria over IIP: Welcome to Fool's Paradise

7.4%

That's the latest inflation figure!

However as always, the business news channels are going ga-ga over the superlative performance of Indian Industrial Production in February. Hence its' worthwhile ruminating on the reality behind this numbers.

A. Overall growth, as shown in the sheet, is actually above the September 2007 mark in only 5 out of the 20 odd sectors, that means compared with September 2007 almost 15 sectors have either gone flat or bust. However, capital goods have indeed bucked the trend, and emerged as a sector with some real positive outflow. That's partially because government spending and most likely due to capacity planning initiatives for the next financial year. Overall, the gloom has only got darker. We did witness a slowdown in feb last year as well, which was cyclical, but this time its more genuine and almost out of the blue.

B. Sectoral: Manufacturing, is the darling of all industries, its' witnessing a major correction. Isnt a growing sector supposed to be going up? Comparing the feb numbers to last year same time, is correct, but factually speaking, we have declined over the feb figures as well.

The story of growth is highly debatable in the Indian context, especially given the fact that 70% Indians still earn Rs. 35 or less per day, and almost the same percentage spend less than Rs. 20 per day or less. That means the merely ensuring that they are sustained is gonna become a huge challenge

What it means for the common man is that, life just got tougher still. The government doesnt care a damn about the majority of its' populace, and is hell-bent on making India a capitalist country. Forget the government, the statistical organisation has presented charcoal in form that it almost might pass off as a diamond. A look around will clearly tell you what the real situation is. Real estate is booming, sucking away capital meant to fuel this growth. The serious growth inhibitor that it has become needs to be understood by the modern day government.

Today Kapil Sibal can go on air and talk about China having 8+ inflation and also cite that other third world counties are also going through the same inflation worries. However, one shudders to think what might happen if Oil crosses $120 and Indian government in its' bid to perform well at the next elections forgets its' fundamental duty - of sowing the seeds of a free market - and instead indulges in exceses to farmers and alike.

It's really a shame we are in such a situation inspite of 3 notable economist minds being at the helm. Let's hope and pray they get their policies right, and in connivance with the ever smart RBI help us ride this tide.

Positive Atheism

A MUST READ

Beautiful article, that goes into an in-depth analysis of what Atheism (Acceptance of Reality), is all about. It's not about disrespecting God, NO! Its' all about realising and recognising the bare and hard facts, and then living a life with that knowledge in a positive way.

Review: Dum Laga Ke - Malad, Link Road

I discovered this restaurant by chance, when we ordered biryanis at my friends place. To my sweet surprise, the biryani's were not the messy ghevda based ones, but authentic mughlai biryanis. Then, one friday, we all decided to eat out for lunch, and that was my second visit. That day, I had Egg Biryani (Tawa-Style), and have had the same 3 more times in the last two weeks.

Besides the above, there is a good variety of biryanis', tandoor based items, and a lot of the non-vegetarian stuff, which my dad loved. Me, being a lacto-ovo veggie, had to satisfy myself with just Egg biryani, paneer biryani and veg biryani.

Bottomline, if you love your biryanis', this place is a must visit.

A word of caution, this place is supposedly a franchisee of Borivali Biryani Center (BBC), but BBC is far worse than Dum Laga Ke, in terms of quality, and service.

Please not Lehman Brothers!

The US Markets are in a bad mood, Sunday was Bear Stearns, today there are loud rumors about Lehman Brothers, no less. Apparently, DBS Bank has circulated an internal email barring its' employees from taking fresh positions with LEH as the the counter party.

This and the fresh memory of Bear Stearns, and the remarkably resemblance of LEH to BSC's last two weeks has triggered a major sellof in LEH stock. However one particular news that may calm the markets is that the Feds latest move will enable even Investment Banks to avail of emergency funding from FED similiar to what commercial banks enjoy today. That will certainly help LEH get that crucial short-term backing. Tomorrow, would be a crucial day for LEH, when they announce their Q1 earnings. My sincere hopes are pinned on some solid positive news from LEH about their performance in Q1'08.

Bear no more!

Bear Stearns went down far more quickly than anyone anticipated. Rather, we in the emerging markets are not quite able to digest such kind of swiftness in action. A company with an 85-year long history and having weathered the great depression, falls from grace within two weeks!!!

That's a developed market, no speculation - only action. J.P.Morgan got probably a sweet deal, rather ensured that the deal was sweetened for them to be interested.

Spare a thought for the 14K employees of BSC, I've experienced exactly what they must be going through right now, actually worse, when my company Cyberspace wound up without blinking an eye (all thanks to rogues siphoning off funds meant for an IT company into funding their main brokerage business).

I guess the writing was on the wall, and as my previous post on 15-March outlined, Monday did indeed proved to be a Black Monday globally.

Sarabjit Singh: Life under threat due to Stupid Media

There is an unprecedented explosion of "News Channels" in the country...these are faceless mouthpieces of vested interests, and have little role in Nation-building or anything as such.

The worst form of reporting these days is coming from the Times Group, especially their tabloids and the disastrous news channel Times Now. It was this channel that went haywire over the "Kashmir Singh" news-story and in their over-enthusiasm, stepped on national security. Their acts ended in shame, when they got a live confession from Kashmir Singh and aired it nationally. I can remember watching that bit of "news" on Times Now, and the first thing that came to my mind, is these idiots have all but signed Sarabjits' Death Warrant.

It was a relatively no-news, that a teenaged Kashmir Singh was kept in prison and released by Pakistan under International Human Rights Acts, after a good 30-odd years. Yes the family was thrilled, but the country? Questionable! I for one, never got the big euphoria around this whole Kashmir Singh saga. For one, that its' a drop in the ocean. The mutilation faced by Indian-POW as early as the Kargil War, is fresh in my mind, besides this, countless fishermen are not spared when they land up in Pakistani waters. The same country butchered its' own Prime Minister, and then blasted his daughter on a election campaign trail. Further, proof of this non-event was given by Kashmir Singh himself, when he opened his mouth on National media. A spy going to town confessing about his profession? And Indian Media airing it? What brains are running these channels?

Indian government should have stepped in immediately upon his release, and given him a thorough understanding of his role with the media of this country, albeit, its all too late, the pakistani establishment must be feeling thoroughly violated over these statements, and as a balm and also a lesson, is plotting to murder a priosoner of 18 years.

The Indian Government owes it to its' military, para-military & intelligence personnel to ensure Sarabjit Singh is spared, and released. Whether it takes big-bucks, or an exchange of a pakistani-militant. Please Do what it takes to bring Sarabjit Singh back, a few million should be enough, after all, the country is in dire-straits, and we are merely paying the price of release of an Indian, who's a father, a brother, and a son to a middle-class Indian Family.

All said, I just wish we had finished the agenda in 1971.

Bear Stearns Bailout

What a story! The blue-eyed boy is in trouble!

There's a high-possibility of 17-March-2007 being the blackest Monday on the bourses worldwide. Bear Stearns is facing a basic issue, it doesn't have money to pay back investors. The long-term outlook for BS is not so bleak, however 17-March & 27-March would be two significant days in the history of this bank.

Back home, India does seem fairly decoupled, except being pulled into the acute liquidity crunch that the world is facing. It may not be a bad time, to relook at some of our own practices. Indian Realty prices have moved more than 3X over 2003 base, which if they havent already, make Indian banks seriously revalue the impact of their housing portfolio. ICICI bank, already reported upto $250m losses in sub-prime related issues. Indian story is good, solid but the termite attack has started, more than anything the FM's "decoupling" theory is gonna be seriously tested soon.

Whatever happens, I sincerely do hope that Bear Stearns rides this uncomfortable times unscathed. Else, lets' be prepared for a worldwide-market blood bath.

Nifty: Meter Down!

Nifty is Falling and no, its' not me, or my wishful thinking. Rather its' a sad realization that we are not there yet. A 25% fall doesnt quite happen in a matter to 10 business days, not in the developed markets , atleast not unless there is something fundamentally wrong in the economy.

Ironically the market is going down without any domestic reason. There is no doubt that with oil hitting $ 107+/barrel, inflation is gonna have a field day in India. A country, where oil prices are controlled, will be in for some really interesting political games in the offing. Its' hardly 10 months for the official elections, and anyones' guess on the number of actual days.

With this background and a weak Congress, I see NO support for the markets from here on, the Rs.1 bn cash kitty with Reliance Mutual Fund, or the collective Rs.10 bn (guess) with the Indian MFs. They are gonna let FIIs make some handsome returns.

The redemption pressure on MFs is likely to begin post-march, once the tax seasons' over, people are gonna take one hard look at the disappointing sensex, and likely to cash in / book their profits. Another looming crisis is the real-estate bubble. Where is the support for real-estate prices in a falling market. I see a crisis, if the real-estate even cracks by 15%, thats gonna make banks shiver in their pants. Its' likely that overall Home-loan portfolio in India, given its' overall rating, is no better than the sub-prime borrowers in the US. It's just that in US, atleast they are known to be sub-prime, in India, they are all within wraps.

Overall a very interesting situation is panning out, day traders are gonna have one helluva party. Enjoy your earnings season, Mr. Bear.

The new face of India

Indians awoke to a rude shock on Monday Morning. Black Monday it was indeed, the Indian Hockey Team losing to Great Britain, and thus losing a berth to play at the Olympics. That, the Indian Hockey Federation doesnt give a damn if Indian Hockey is relegated or derecognised was made amply clear by the President, K.P.S.Gill's retort, to not expect "Quick Results".

Hell, this is a 70+ old man, who can never relate to what the real India currently is. Its' the youth that are driving the country and they are far superior a breed to manage, run and achieve results in a manner its' completely unknown to this wise old man.

To me, he represents the scum of India that really makes up for the bottom most part of Indian Society. An adminstrator so in love with his post, that he's willing to sacrifice the pride of a nation, to achieve petty goals. One only wonders, how do the grey heads of India become so morally corrupt and shameless. I cannot think of any other word than Shame to describe the manner in which the IHF has gone about their business.

I think this is the time to think afresh and make a serious attempt at reviving the old hockey days. To start with, India should simply re-introduce field hockey the way it used to be played. On a grass surface. Make no mistakes, the techniques of grass hockey cannot be different from that of turf hockey. Its' far better to have a confident team, than to have a set of proven non-performers. Players within the national league, should be good players in both forms of the game. Theres' no point in adapting to turf hockey, it will only lead to more K.P.S.Gills and we should sincerely avoid that.

The Premier Hockey League, once its' played on grass, will not only attract poor and wealthy alike the turf will no longer be a barrier to young players from all corners of the country.

Lets' atleast make an attempt to achieve results inspite of K.P.S.Gill, just like Indian Economy is booming inspite of the Government.

India Calling: Toyota Corolla Tenth Generation

Toyota has long launched the 10th generation Corolla in various markets, including Japan, US, Australia, South Africa, Jamaica and quite a long list. Looking at Bombay Times these days one wonders if this beauty is gonna make it to India before FY09 hits us.

From the reviews and raves about this tenth generation babe, it looks like a apt answer to the undue dominance of the Honda Civic in the entry-level B segment.

This babe really rocks in looks, and that only echoes what the experts say about this package of energy. I mean, digital speedometers, climate control, and chic looks are some of the highlights of this beauty, who knows the next thing you see me, I might just have been lucky.

Definition of a Finance Minister: P.Chidambaram

What a Man!

Sir P.Chidambaram, he represents soneone that probably every business studen dream of...right at the top of the pyramid. The sole King of the most vibrant economy on this planet, making him the true governor of the fate of this earth.

No exaggerations, I am truly awed by the phenomenal magic show brought to life by Sir PC. And NO, I'm not talking about the 2008-09 budget, it was a damp squid, probably constrained by the petty political partners of Congress and its' own ranks. But, for all observers, there was one truly savouring experience of watching a Man blessed with wisdom, passion and a true sense of bold-spirit go about his job in the most professional manner known in this country since ages.

If Laloo is hailed by some firang university, it probably just proves that the west is already brain drained, they have no clue where the blast force of India lies, they are instead left praising her exhaust pipes.

Here is a man, who being a lawyer and a politician slashed the daylights out of self-propagated business news channels. Anyone who wanted proof why business channels should be watched in mute mode (perhaps only as a cheap replacement to BloomBerg or the likes) the post-budget interviews by Raghav Behl, NDTV Lead Anchor (who atleast got a finance brain with him) and the Zee Business News anchor (she's most likely to resign) only made it ever so clear.

One is left wonderiing, if only India had 520 more Sir P.Chidambarams, then India would not only hit that coveted double digit growth, but would so quickly become the best place to live on this planet.

Thank you very much, for being India's Finance Minister.

Letter to editor@ibnlive.com

Sir,

Thank you for an insightful, liberal and by far the most complete debate on the “Events targeting North-Indians in Mumbai” today (Sun, 10-Feb-2008).

I have been seeing some rather disturbing reporting by north-regional channels (SP Influenced– Sahara, Sensationalist – Aaj Tak, India 24x7, India TV and surprisingly IBN7) and also the times group in Mumbai (Mumbai Mirror).

Is there no accountability left in journalism, and why isn’t anyone questioning the strong northern (one person / group only) influence on the above mentioned channels? Why isn’t anyone questioning the rights of such regionally-focused & biased reporting under the guise of “National TV”?

Please carry on with the quality of reporting and the debates, because your channel is the only hope for liberal minds of our country.

Lastly, I just wish to register my thoughts on the agitation started by MNS, its’ aptly described as “Gutter Politics”, especially after hearing the spokesperson go on every channel in a futile attempt to spread the hatred. I am convinced that, even if Mumbai was comprised of 80%-90% Maharashtrians, these same parties would have made caste / creed as the agenda, and we would have had equal violence under the guise of agitation.

I also wish to appeal to you, to cut-down on MNS, SP, Amar Singh & Raj Thackeray (What's their contribution to India?) related news, Hate Politics needs to be nipped in the bud, and instead, we are providing a breeding ground for the same.

Let’s vow that only Gujarat remains an exception.

Regards,

Milind Kolekar
(A Marathi-speaking Indian)

Raj Thackeray's Campaign against North Indians

Yesterday, most national channels were beaming speeches by Raj Thackeray. Amongst other ideas aired by Raj, the most notable were as follows:

• Lack of representation of Maharashtrians in Indian Railways.
• Introduction of Tax-free status to Bhojpuri Films in Mumbai and other parts of Maharastra!!!
• Steady flux of migrants from UP & Bihar.
• Factual description of misplaced loyalties of Amitabh Bachhan, who represents Samajwadi Party.
  
• Request to celebrate Chhat Puja as a state-event in Maharashtra by SP Politicians..
  

I must say I can relate to the frustration that Maharashtrians face at the violation of cultural sanctity in the face of the influx. Migration to Maharashtra is rampant from not just North, but all parts of India. However the target of the speech is clearly North Indians, especially UPites & Biharis.

Lets' not forget that the only gift these poor migrants from the north have given Mumbai, is the public squatting and shameless shitting in the open. This more than anything, clearly reflects their culture and the state of affairs in their state. The face of politics in UP and Bihar is even worse than these migrants, gun-totting gangs, force ballots and total disregard for life. No surprise the sanctuary of Maharashtra is looked upon as heaven.

Being a good 1500 KMs away, Maharashtra has evolved based on a completely different set of values, ones that respect life, one-another, and believes in living life to the fullest. Now, contrast that with the lawless, sub-human, crime-infested regions that the migrants come from.

I've toured some part of Harayana, Punjab, Delhi, Himachal, Karnataka, Tamil Nadu and Goa. Nowhere have I seen such rampant infestation of UPites & Biharis, and the crown goes to Tamil Nadu, where I couldnt find even one shop named Shah Bros or the likes. Bottom line is that the whole of India is made of states that purports a unique socio-cultural aspect. There are numerous examples of cultural santuaries being prevalent across India, be it housing societies barring muslims or non-vegetarians, or villages not allowing entry to certain castes, or be it the aryan-dravidian debate. We all love to be surrounded by people of our kind, who speak our language, who behave like us, who share our mindset and most importantly who share similiar values.

Cities as an expection is highly desirable, hence the great melting pot that Mumbai is, is the best sign of Modern India, but the ugliness within it, shouldnt be covered under the guise of fairness.

My one question to Mr. Potato & Mr. Puppy is why are your states unable to stop this out-flow of the poor? Isnt this the biggest blot on your politics? How shameful does one need to act to be called as one from your state?

The need of the day is to bring in a comprehensive plan to bring Bihar & UP out of their rut, what Mr. Anil Ambani and Mr. Amitabh Bachhan are doing for the state is truly commendable. The plan to rescue UP & Bihar should be taken along the lines of curbing Bird-Flu within West Bengal, containment should be the mantra, and surely states which boast of a superb irrigation and great human capital can do much here. The more I think of this problem, the more I see logic in the preferential railway job allotments (they do need these benefits), and at the end of the day, a poor man regardless of where he lives needs to be given a helping hand and a lot of care.

Having said this, I wouldnt like to see Maharashtra as being the place as host to these refugee camps.

Indian sub-prime crisis in the making?

Stock markets have fallen, (for good) by about 25-30% in the last fortnight. Thats' still early days, we are yet to catch-up with the complete sell-off targets, that FIIs and the real movers of Indian markets have on their minds. It's quite obvious that the very liquidity that is hitting the markets is very much locked in the highly over-valued real estate market.

Unless this liquidity is unlocked, there is very to no hope in getting the liquidity back into the system.

However, it should be noted that unless people realize that fundamentally, when a miniscule apartment sells for 1/2 a million, its' time to leave either the city, or the markets.

Whenver the liquidity in real-estate is triggered, rest assured that Indian banks are gonna start announcing losses just like their US counterparts. Remember, even Indian banks have been dispensing 90% loans, even a 10-15% fall in real-estate might trigger an amazing real-estate crisis, rather a banking crisis, watch out, we are very close, and the ice is wafer thin ahead.

Dear FM, PM, et. al: Leave the Capital Market Alone

Why is Indian Government trying to bail out an super highly sold, unviable and unprofitable Capital Market?

Indian Government and the Finance Ministry need to answer this question, in the most candid manner possible. They owe it to the millions of people who do not have demat a/cs but still pay VAT, the millions of salaried class government employees earning a pittance while still paying income tax.

Why does the government want to lose the precious capital, and help FIIs earn far better returns instead of waiting for the deluge to be over. By constantly baby-sitting the stock markets, the government is encouraging callous investors. Why is LIC investing in bear markets, by using investor money, when they never pay more to policy holder on the back of a bull market.

Farmers kill themselves for the want of pity amounts, and the government turns a blind eye. Come FIIs in trouble, and greedy "investors" wanting support to book profits, the DIIs come in an bail them out.

Indian market is just that a creche for rich and HNIs, it is far far away from being a free and fair open market.

Black Monday - 21Jan2008

Indian Markets can excite you more than any reality show or sports t.v. ever can. Today was one such days, the numbers themselves probably spell disaster, however once you start imagining the carnage in the lives of those unfortunate ones who were highly leveraged in this bull market, it dawns on you as one of the biggest reality shows in the nation.

There were punters, horse-traders, and pure betters who were begining to take hold of Indian Markets, and would go home tonight to lick their wounds and perhaps with the knowledge that Indian Markets are just that, another set of emerging markets where mayhem and chaos rules roost.

Watching the action live as it unfolded was extremely exciting, but seeing 21-Jan being permanently etched in Indian Stock Market history was extremely satisfying too. For the record I lost about Rs. 5K held in ULIP, but I can afford to smile. Not many can.

The usual set of monkeys were freely making predictions about the future, and how the markets will bounce back. These shameless experts are only good at reading numbers that are past-tense, to even take their word about the future is foolhardy. Its' not surprise that Indian Markets crashed, after all, India isnt on Planet Jupiter, its' on terra-firma and every other nation can dictate the course in Indian Financials.

Valuations are now suddenly the flavour of discussion, however the "fundamentals" many take for granted are about to be questioned. No one in their sane mind would be able to predict the extent of US recession (if any) and its' impact on Indian markets, yet the euphoria doesnt abate.

Let's hope and pray that just like the stock markets, the real-estate markets would firmly head towards where it belongs. It's high time....

Vikram Pandit, CEO, Citigroup.

Vikram Pandit Rocks!!!

This is not about nationalism , just pure admiration for a man who has achieved what mere mortals dream about. Maybe, CEO, something else would have been fitting, but the beast that Citigroup is, makes it awe-inspiring.

Wish you great luck in your role of doing what you do best!

The Dangerous Indian Urban Divide

The real dangers in Indian Economy are not poverty, hunger nor disease. They are the following in the order of their severity:

1. Black Money: This is one instrument, of ensuring that the salaried classes generate moolah for other sections of the society to ravage upon. The amount of direct taxes being poured in by this class of people is enormous enough for the country to grow at a 8%-9% rate, to imagine what the REAL growth numbers' would be if the worlds' largest black economy within a country was scrutinized, and taxed.

The black marketeers exist in various forms, but the biggest culprits till date have been builders and corrupt bureaucrats. This class of India, is by far the biggest threat to India, and demand a separate regulator aka SEBI to carefully watch each and every transaction happening in India.
A case in point are the numerous land scams being unearthed, and political interests in real-estate.

The movie, "Khosla ka Ghosla" deals with one such land-sharks, however the modes and methods of operations of such death-dealers differs vastly.

2. Corruption: Khairnar once said, "Its a dark new moon night, and you want me to point out the darkness?"

3. Greed & Lack of Social Responsibility: Indians just fail to understand, that when the rich-poor divide increases substantially, a force bent on social justice will take matters in their own hands. Today, we are witnessing this phenomenon, in the form of shameless display of corruption by policemen & traffic cops. The vandalism is spreading from railway ticket-collectors to government employees with any kind of public contact.

Finally I'd urge you to watch this video, to have a sense of reality, and to guage where India would really reach in the year 2050.

Bathroom Imaginations & Screenplay: Saatchya Aat Gharat

To the writer of this movie, Mr. Sanjay Surkar, I just have this to say, "Get well soon!".

My heartfelt best wishes for you to get back into a better mental state, so that Marathi Cinema is spared another horrible state than what was achieved by the late. Laxmikant Berde & the not-so late Mr. Ashok Saraf.

Another suggestion, please do not ponder so much, about culture and humanity...you are incapable to both, and most of all, judging modern humanity.

I saw this movie, and was appalled by the senseless writing and screenplay, all under the guise of "intellectual" cinema. Here is why:

1. The whole movie tries to represent an entire generation, when it actually portrays some management kids (incapable of simple logical thoughts) in a dire situation - the guise of which is so foolish, it makes you see through the callousness of the writer to disregard depth in his story.
2. The movie tries to draw parallels' between mythology and real-life, and the lead is shown lecturing a man over her deep thinking, which, based on the screenplay, is nothing more than comparision to mytical circumstances. Why? Well, again the writer is too bored to use a wifi-laptop while he's relieving his compost, and research humanity, and sociology. Two key elements that are so sorely missed in this movie.
3. The superficial handling of a key topic shows immaturity. Acceptance of an assault victim isnt quite new Mr. Writer, not only that, Indian culture has a seriously long history of infidelity, which I personally believe is far more shocking than being assaulted. But hell, assault is a kick-ass word and sure to tickle the small marathi cine-goers, especially the grey heads that are clinging on to the hope that glory days are around the corner.
4. Undue importance to godly matters, while bearing no relevance to the actual story line, keeps
rearing its' head every once in a while throughout the movie, and gives it a pro-believer stance (its' not quite difficult to guess which community was involved in making the movie), I think the best way to debunk the gods in India would be to kill all demons aka "Bhul Bhulaiyaa" which would certainly open eyes of Indians to the "real" facts of human life and death.
5. Now, lastly to my serious contention that marathi cinema is dying not because of bad characterisation or storylines, but rather because the marathi film-industry is so far away from the modern concepts of human stories and stays so far away from key elements that make classics like Forrest Gump, RDB, Shwaas or all the ones that get oscars and nominations, that no one hopes much more than z-grade from them.

Another interesting fact which I feel is a bit of a sideline to the story, is the fact that its' set in Pune, a city full of students and IT / ITES companies. Full stop. No trade, no finance, nothing. Essentially the story of culturally old parents and young millionaire children. The movie is fantastic, within the boundaries of such a Galapagos, but applying it to anything beyond that is like imagining Dinosaurs as primary dairy suppliers.

However all's not lost, there is always a gem that comes out once in a while, and lets hope someone out there actually decides to take some efforts, do real work and then write movies.

Hyundai i10

http://www.hyundaii10.co.in/

Diwali - World's Most Dangerous & Destructive Festival

Today was the first day after a night-full of crackers and fireworks explosions. I have always heard of the effect on the environment, but today I witnessed it first hand. Today was an ordinary day with absolutely NO CLOUDS, but it was made extra-ordinary by the fireworks of yesterday. As captured in the photo on my previous blog, the night sky showed a thick coat of smog, and the effect of it lasted the whole day today. The sun was shining, but the day was hardly bright, I'd rate it in-between a gloomy day and an overcast one.

It was surprising and at the same time disgusting to witness such an occurence in my own lifetime. When we ultimately face the consequences of such acts, we'd be left without any options.

I thought I'd seen and lived all my horrors, but instead in the evening, we thought of enjoying the sights and sounds of Diwali, so started off for a drive with a stopover to visit my granny. We parked our Car next to a pani-puri vendor, and before we could get out, there were crazy loud thuds on the opposite side of the road. Few minors had collected all their firecraker "malas" and placed a chain of notorious "sutli bombs" on top of it. Some burning blast fragments were being spread to a area of more than 8-10 meter diameter. One such burning fragments hit the driver side door pane, close to the rubber lining, and my heart sank. I wasted no time, and took my car to a area that appeared desolate (relative term).

But to my sheer anguish, there were a set of people from Anagram Finance, who were in a very "happy" mood at their shop (belonging to one Haresh Parekh, an investment advisor) and were hell bent on setting all their brokerage on fire. My car endured a volley of high-decibel blasts, from less than three meters away for more than 30-35 minutes.

Later on, we took a drive on the link road towards Don Bosco high-school, which I must say is one the best areas of Borivali. The lights' and overall decor was breath-taking. However, to spoil the look, there was a lot of sound being generated by none other than the infamous "sutli bomb", and the hissing rockets. I saw so many of the rockets hit sides of one building or another. It was quite disturbing to see such shameful exhibition of fire-power in a densely populated city like Mumbai.

Lastly, if it's worth, I strongly urge the Indian Government, and the powers that be, to issue a BLANKET BAN on fire-crackers in Mumbai!

Please act now, and save off some quality of life before its' too late.

Goodwill Hunting - Deepika Padukone

India on the global scene is harshly misrepresented as a country of IT professionals, Call-center "Executives" and generally low cost professionals. So it comes as a surprise when India & Indians are presented with an aggressive and overtly glamourous defiance.

What am I talking about?

Om Shanti Om has released today to packed audience. Amongst the several theatrics on TV today, was a news-channel showcasing the publicity visits by the cast of OSO to theatres in London.

And out came Deepika wearing a red Indian traditional dress, that brought the scintillating beauty and charm hidden beneath her calm exterior to fore.

Maybe I'm exaggerating, however it was quite pleasing to see Indian actors being celebrated the same manner overseas as they so boringly are back home. There was much more in store, a bit of googling around for OSO reviews, and the surprise was even much more pleasant. A canadian film critic not only rates OSO 3/5, but goes on to say that "OSO is far better than any Hollywood movie released right now, and one thing you realize is, this movie puts a smile on your face", and concludes with "Must watch".

Great work SRK & Deepika et. al.

Sub-prime jitters in India?

While surfing today, I came across this:
http://www.myiris.com/newsCentre/newsPopup.php?fileR=20071106075455130&dir=2007/11/06&secID=livenews

Does it indicate the begining of the end of Real-Estate woes in India? ICICI is a shark, and for a blood-thirsty shark to give away its' meal like this sounds alarming. I personally feel ICICI may have lot more percent of NPAs, and I would definately like to track ICICI's 50% loan portfolio involving housing sector financing.

Its' not surprise that Arcil has a CEO from ICICI, who was involved with recovering "stressed loans" to the tune of thousands of crores.

With the loan recovery mechanics of ICICI making prime-time news, its' probably the begining of something big from ICICI.

Diwali 2007

Wish you a very Happy Diwali!

Let's atleast hope the colors and light festival can be enjoyed in the same light a century from now. The fog and the pollution may not permit our next generations to live and enjoy Diwali. Act now, time is passing us all by, and there's only one right thing to do...

Say no to Firecrackers!

Concorde - A380

21-January-1976, two historical events happened on this day, a. The Concorde took its' maiden flight over the Atlantic bringing the new world within 2 hours of the old world. The second can be easily guessed.

I have always had an emotional attachment to the Concorde, the sheer beauty and technical wizardry it exhibited is still unmatched. However the very values that the Concorde represented have been eclipsed, that Man no longer values speed and grace is the sad but true state of Modern Aviation.

Today the world has seen the rise of a Goliath, a beast, with ugly looks, but nevertheless, state-of-the-art technology under its' belly. The A380 shines through all the needs of travellers all over the world, especially long-distance travellers.

But, after 9/11, does it make sense to build planes that can carry 800 pax, and triple the amount of fuel carried by the B757s & B767s used to create havoc?

Well, if anything, one might argue, that the world should never bow down to the evil ambitions of handful men. Agreed, but doesnt risk-assessment mean anything anymore?

The A380 will rule the skies, no doubt, and I certainly do hope, that Modern Aviation, does not falter, not the very least to terrorism, but I also feel, while we celebrate the birth of the A380, we are quietly letting the very thing that symbolizes magnificence become nothing more than a memory.

BPO Employee Murdered

Why doesnt Indian Government, follow Saudi Principles of Justice, where each criminal not only pays for his/her crimes, but does so in a manner that sets an example for society.

My sincere condolences to Late Miss. Chaudhari, and I pray that she gets justice quickly.

Emergency in Pakistan

Dont quite know what to expect now, or if it matters to us Indians, but to know that folks across the borders are being deprived of constitutional rights is not very nice.

I just hope for the sake of World-peace, that Mia Musharraf has good intentions at heart, and would create a path-breaking mechanism of fixing the twisted social fabric of Pakistan.

Some insights into real-estate pricing

I have discovered some insights into how Real-Estate companies price their properties. Although the macro factors are quite standard and well-documented, I recently witnessed an unprecedented example of how this bubble takes shape.

I'd visited the R.N.A. (A.A) builders stall at the MCHI property expo, and one of their "complexes" in Mira Road - E - RNA Courtyard - was quoting Rs. 2741 psf, the date & time for this quote was 28-Oct-2007 20:00 Hrs.

This week, I decided to give a few followup calls' to all the builders just to get a sense of where the market was headed. And lo-behold, RNA Courtyard was hiked to Rs. 3441 psf, an appreciation of Rs. 800 (or 29.18 % ) within a matter of 5 days, whereas ALL other projects were quoting the exact same price as at the Expo. This startling appreciation of project quote points at two facts:
1. There was a huge demand for that property at the Expo.
2. Most likely there are a few products remaining to be sold.

However, there is one more aspect of Real-Estate pricing which has come to fore, which is "Benchmark Pricing" & "Incremental Valuations". The concepts are fairly rudimentary and quite obvious but, to know that such methods are still being followed in what some experts call a "mature" industry is quite disturbing. Its' akin to you being priced in increments when you buy anything, so imagine someone charging Rs. 10, 12, 14, 17, 20 for 5 Pepsi Bottles that you buy. Its' a classical definition of a "Sellers Market", the market valuations are almost being twisted on its' head based on purchasing power of consumers. There is one downside though, with speculators so rampant in such market, there is a huge amount of value that's being lost because ultimately gains made by an individual have opportunity costs, and by spending out of your nose to buy a flat will ensure, other commodities face a decline.

I can clearly see the begining of the end, although my confidence in this prediction is shaky, because I've grossly under-estimated the holding capacity of Indian speculators before.

MCHI Property Fair 2007

The games start now!

I saw a very humble picture of Mumbai's Real Estate market, the rates have gone down, a good 10%-15%.

The projects still stuck with the same rates as earlier were desolate devoid of any visitors, the ones' that were rocking were projects which have taken into account the fact that the average Indian doesnt earn 75 lacs a year!

Some of the properties which have been around forever, are obviously not willing to learn from economics, that ballons can be blown to their capacity, but not any further.

May god help the countless people who are gonna be stuck with debts higher than the value of their flats, either that, or may lord have mercy on me coz I do not wish to buy no flat in these boiling water.

SEBI Proposes Tighter Rules on P-Notes: Catch the bull by its' Horns

Securities & Exchange Board of India has issues a draft document proposing tightening of noose around the "FII" inflow into the country off the back of P-Notes.

As discussed earlier, this route is no doubt used by the mafia, underworld, corrupt politicians and likely hawala operators under the guise of "FII" investment. The total anonymity in such transactions opens a Pandora's Box, as Occams' Razor suggests, the simplest explanation is often the truth.

If my vote counts, please re-consider banning P-Notes in totality. If not, then please make this draft into a directive asap.

Thank You SEBI, RBI & FM...please save India from this menace.

Ban Outdated Rickshaws & Taxis in Mumbai

Mumbai roads have been ruled by Taxis and Rickshaws for over three decades now. Today we are living in a city trying to establish an image on a global stage. Some of the worlds richest people live in this city, moreover the city houses establishments that have become a rage on the global investment front. We are seeing broad developments in the city, be it the roads, the trains, eateries, fashion circuit, airports, hotels et al. But sadly there is one "cancer" that is choking Mumbai to its' death.

According to this report on Mumbai's Pollution, the levels of Carbon Monoxide (CO), Carbon Dioxide (CO2), Suspended Particulate Matter (SPM) & Sulphur Dioxide (SO2) are way beyond acceptable limits in inhabited placed. Other contaminants such as Lead (Pb) and Oxides of Nitrogen are also found in increasingly larger quantities.

There is no doubt that Mumbai's pollution is due to the rapid growth of Automobiles, and the continued usage of dilapidated trucks and vehicles especially Rickshaws and Taxis. What we need is a blanket ban on these, or at the very least trim them to about 10% of their current numbers. Here's why

Taxi
1. Taxi operators are using vehicles manufactured a minimum 20 years ago. Moreover, the vehicles are no longer receiving genuine parts, and one wonders how the engine behaves when its' been subjected to unbranded/customizations.
2. Taxis offer "Zero" ride-quality. These vehicles are having very tough rubber tyres, and the rides in pot-holed areas, or even slight level mismatches on a concrete road are pretty rough. We pay a great amount of money for this?
3. Arrogant Taxi drivers of Mumbai are folklore.
4. Most taxis are sluggish due to conversion to CNG, but their arrogant, uneducated and unmannered drivers always believe in driving on the fast lane (Right Lanes). Some taxi drivers are also known to mix Kerosene with petrol, causing horrible SPM pollution.
5. There are so many taxis' which either do not have a functional headlight or a tail-light or the turn-indicator lights. Some do not have either in working condition. I sincerely wonder why is fact tolerated by the RTO?
6. A quick chat-survey of Taxi-Utilization, reveals that a Taxi may get two or maximum three "bhaadas" every day, requiring one or two hours of driving. However, the driver needs to hunt his fish the whole of 10-12 hours (mostly waiting in queues) to be able to meet this figure. It means on an average a Taxi has only 8%-10% utilization.
7. The union holds the entire city at ransom through their strikes.
8. Whenever citizens really need the Taxi's services, the taxi operators invariably try to rob the person blind. Best examples were 26/7, or whenever sub-train services are disrupted.

Rickshaw
1. The rickshaws are a symbol of Indian Entrepreneurship gone horribly wrong. We have given rise to this ugly animal in our own backyard, courtesy the greed and vision (illusion) of one man. The very purpose of a rickshaw is to provide a low-cost carrier to the common man. Rickshaw fare is almost 82% of a Taxi fare. Are rickshaws' really serving their purpose?
2. Rickshaw drivers are the most notorious drivers in Mumbai. There are a few strict "NO"s that are taught in driving schools, but probably as means of getting back at the society, a rickshaw driver not only practices them, but has ingenious ways to invent more.
3. Ride quality in Taxis' is bad, but in a Rickshaw, its' even worse. The small wheelbase results in serious jolts, add to that the whims and fancies of its' seat designers which range from wooden planks to the cheapest train seat.
4. The three wheel approach lends to a very unstable platform. I've myself been involved in a rickshaw toppling incident, and witnessed atleast 2 of them (No injuries, just bruises). Add to that the fact that a rickshaw is driven along three parallel lines, thus making avoidance of potholes a nightmare. A driver usually takes care not to involve the front wheel in a pothole, the other wheels lead to heads bangs (to begin with) or even miscarriages at the extreme.
5. Rickshaw drivers are known to pick-up fights in a haste, and are a menace to society.

The sooner the powers in question realize these, the earlier we can take Mumbai to a far cleaner, and brighter city.

Visit to Bombay Stock Exchange

There are two phases in every mumbaikar's life. First, when he's not yet come across the charisma, grandeur and the sheer power to challenge and alter your destiny. And the next one, is when you have visited the Bombay Stock Exchange, and interacted with the very men that made it one of the oldest financial benchmarks of Indian Economy.

Okay, I'm still in a kind of daze, about how I could stay away from the stock markets for so long, especially when all indicators were screaming out loud at even putting in pension funds into the stock market.

The reason I happened to visit the stock market was to attend a course on "Fundamental Analysis" at the BSE Training Institute (19th Floor). The course provides a completely fresh perspective into how stock markets need to be approached. An over-whelming feeling that almost took me over towards the end of this session, I literally felt like an ostrich with his head buried into the ground. The few important pointers I gathered from the course were, always study the true worth (Valuation) of a company, before deciding to invest in one. The markets always come around to respect that figure. Keep a keen eye on what the promoters are upto, Indians are criminals when it comes to integrity, and the course covered a lot of examples of such family businesses. Essar group, Naresh Goyal, Great Eastern being a few of them. Another key perspective, which I guess I was not prepared for, was the depth of insight that one needs to have on the economy to make sound / logical calls.

As regards the venue, what I must recommend to anyone who reads this + lives in Mumbai, is to take this or any other course. The view one gets of south bombay, the financial HQ of India and above all, the opportunity to meet the ex-president / leading brokers of BSE is once in a lifetime.
Left: View atop the BSE, overlooking the Gateway of India, Museum and other such landmarks. (Click for a full-size image)

A few things that have indeed unchanged even after LPG has hit us hard, plus since the FIIs and other institutions come together to challenge the dominance of BSE in the form of NSE are the love of money. The whiff of opportunity strikes you as soon as you enter the building.

My sincere Thanks, to every broker, dealer and member of Bombay Stock Exchange. Thanks for making the place I was born in, so respectable, and so desirable!

Below: Video of the brand new ticker and screen courtesy BSE and NDTV Profit

Indian Railways: A bed of roses for Corruption

Its' incredible, how our Finance Minister talks about bringing in all unaccounted wealth under tax-purview, how the proliferation of black economy is hurting us bad at the world-stage. But does he ever question / ask for income details of the thousands of Ticket Collectors operating in Indian Railways?

They are Corrupt, beyond imagination!

I have no words to describe the very means a (dis)respectful Ticket Collector employs and literally make you pay for your desperation or dire needs.

I think this species of humans ought to be classified separately, as their corruption is so blatant and public, its shameful that no one ever does anything about it. Its' about time each Ticket Collector & his spendings are monitored carefully, and the guilty ones (Most likely all of them) are made porters in the same town that they live in.

The modus operandi is very simple, Indian Railways, under the leadership of the worlds worst human being-cum-politician, issues far more wait-listed tickets than are ever possible to be filled. Inspite of having paid the entire amount, the TC then charges his own fees (in cash) to allocate a vacant berth to a wait-listed passenger.

It is a usual sight to see old men with balding / grey heads asking for Rs. 100 almost as easily as a beggar does at signals. But like I said, this is a different species altogether, shameless, humans ready to make a easy buck for virtually a brain-less job. They do absolutely no service whatsoever, the computerised ticketing system does an excellent job of grouping and allocating passengers well, but the illusions of progress are shattered the day one sees the Railway Ticket Collector going around asking society to pay him coz, he aint capable of earning it himself.

Dollar at 30 - by 2008

My earliest memory goes back upto Rs. 13/$, but those were golden days' when India was almost self-reliant, and license raj was still allowed, that was 1988.

Not for long, the worlds' most idiotic political party got elected (barely) and decided to do something that silly minds always do. Disturb a calm lake, and ever since all hell broke loose, Rupee hit an all-time low of Rs. 49/$, that was 1998.

But even bad things dont stay forever, the Reserve Bank of India (Mom's bank), and apparently even the Finance Ministry decided to stop "pegging" the rupee to a basket and let it free...and free it has been. After a few hiccups, the rupee is sailing, we've witnessed an unprecedented rise in the rupee against the dollar over the last few days, a lot of it due to the largesse of funds being poured into India by "FIIs" (Read black-marketeers & underworld and yeah of-course genuine FIIs as well).

So how far would it go? Some experts have suggested a long-term stability around Rs. 38/$ and some around Rs. 35/$. But that's an experts' suggestion...its' bound to be a bit conservative, that's one limitation one doesnt have while blogging, so assuming a 10%-15% leeway, we can safely expect the dream Rs. 30/$ somewhere around mid next year or at the very worst towards 2008-Q4.

For such a possibility, we need to pump in money into the stock market, however there is one bother, the real-estate sector is a black-hole that's threatening to take away the free-capital available in the market currently.

For some reason, I keep remembering the quote Uday Kotak made towards end of 2006 - "Americans sustained a 10-Year bull run, there is no reason why we cannot better it". Amen to that sir!

OK if it does happen where does it lead us?
A. To a far, more important role in world-politics!
B. Will boost the Indian travellers' budget plans...expect New York to be lined with bhel-puri stalls soon...that would be a sight ;)
C. Oil-pool deficit reduction, but dont see it lasting for long though.
D. Depressed exporters - to hell with you, the country doesnt need to support you forever...
E. A shaken IT industry, forget the cheap-labour bargain guys, sell its' intelligence. I can say with experience we are at-par, if not better with the best on the planet.
F. Kotak Mahindra taking over Goldman Sachs (!!!)
G. Reliance buying all Fortune-500 oil companies outside India.
H. Subhiksha takes over Walmart!

Ok, last three are just wishful thoughts, though its' not impossible...Tata Steel did acquire Corus, so the rumblings have begun. But this is possible (if ever) only if Indian rupee continues its' surge against the dollar, and the US successfully plans its incursions into Iran or Venezuela, or at the very least gets' its Petrodollars alive and kicking again.