Friday, November 30, 2012

Statutory Warning!!

While Delhi basks in the glory of post-Marathon mania, it turns out that running might just do more harm than good. Read on!

Last weekend, Delhi woke up to an event that is increasingly gaining spectacular proportions in terms of popularity – yes the Delhi Half Marathon – what with the who’s who of the Indian tinseltown descending on the capital’s streets to celebrate the one activity that’s known to man as the best form of exercise, and that, when done regularly, keeps the heart in good health. Remember – ‘Run Forrest run’ from the touching movie Forrest Gump where Tom Hanks, the protagonist, runs at lightning speed to save himself from a set of bullies and since then, runs thus to even travel from one place to another? Well, Tom Hanks might not have suffered any repercussions of such blind running, but research suggests that pushing your body to run 26.2 miles can cause at least minor injury to your heart. Such conclusions have gained world-wide attention after two high-profile marathon deaths last year – one in Chicago and the other one at the Olympic trials. While we in India are still warming up to a marathon culture, it is imperative for all to know the important aspects related to it. Since running has forever been considered a great way of keeping healthy, several choose to go for marathons without realising that ‘marathon running is, for the lack of a better word, an overdose of a good thing’. That’s why, one of the major reasons of running-related injuries is overusing the body. This is true not only for first timers or those inconsistent at workouts but also for the seasoned veterans who feel that their experience will keep them off any injuries.

“People with no heart problems won’t have any problems by taking part in a marathon. But someone with a history of heart disease is likely to have a problem, such as breathlessness, chest ache, or the person might collapse, unless they’ve been working out previously,” says Dr. Sumeet Sethi, Cardiologist at Max Devki Devi Heart and Vascular Institute.


Source : IIPM Editorial, 2012.

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Thursday, November 29, 2012

CORRUPTION: ABOUT BRIC ECONOMIES AND SOME MORE

Transparency International’s corruption index kills Russia’s image

Further to that, there have also been allegations against the party of using illicit funds for the election campaign, where Lula’s chief of staff Jose Dirceu, is now directly accused of corruption.

Though the rankings have been more or less as per expectations, a stunning surprise is Russia, whose malevolently glorious CPI score of 2.4 gifts it an equally glorious rank of 126 out of 180 countries covered. Even countries like Zambia, Vietnam, and Nicaragua are above Russia. Seen relative to the fact that even India – an accepted indolently corrupt nation – managed a rank of 85 [down from 72 last year], and communist China managed a rank of 72 Russia seems to be drowning faster than Medvedev’s media appearances. Does it matter to Putin? With a large and insolent oil supply, we guess not...


Source : IIPM Editorial, 2012.

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No can ignore

The reasons why Russia matters

We firmly believe it doesn’t take more than two columns – and similar spatial intelligence – to understand Russia’s undeniable presence in geopolitics. Strangely, we firmly also believe that George Bush and his advisors lack either of the above [any ‘intelligent’ guesses which?] for the better part of the past decade attempting to ignore Russia’s mammoth power inanely. Dear Mr.Bush, Russia – unlike the 2004 CIA WMD report that leaked how you lied about WMDs to succeed in the Iraq war – can simply not be wished away. Though USSR broke up way back, though Russia has fought its own debilitating internal battles time and again, and though quasi-dictatorial power within Russia has passed quite unstably since the time Andrei Gromyko jumped ship, Russia can ‘not’ be ignored. And why? Russia has 71 million military personnel. No can ignore! Russia is ranked the second strongest military power globally. No can ignore! As per Natural Resources Defense Council, Russia is estimated to possess more than 20,000 nuclear warheads; the largest stockpile of warheads across the world. No can ignore! Unfortunately Mr.Bush, your two terms, like our two columns, are over faster than the world would have wished.


Source : IIPM Editorial, 2012.

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Wednesday, November 28, 2012

Pirates prowl in Puntland

Scared marine companies don't report ordeals; sloppy tracking a boost to Somalian pirates

The frantic appeals made recently by Seema to save her husband Prabhat Goyal, the Captain of Stolt Valor, might not have found an echo on Indian ears deafened by the Delhi bomb blasts. Captain Goyal’s ship, with his 22-member crew on board, was recently hijacked in the Gulf of Aden by Somali pirates. The Indian government has ruled out involving its navy in the Gulf of Aden, citing a UN resolution; due to which the crew has not returned till date. Officially, Stolt Valor's hijack was 60th attack of its kind – in the precincts of Somalia alone – this year. The real toll is leaps ahead. Major General (retired) Syed Ali Hamid, board member, Kestral Defence Consultancy Services in Pakistan told this journalist at the DIMDEX conference in Doha this year that the official figure is understated by as much as 2,000%!

Hamid's claim might sound absurd. But then the International Maritime Bureau (IMB) does not deny what Hamid says. “There is definitely an under-reporting of the incidents. There is at least 50% underreporting in the cases in the Niger Delta,” says Cyrus Mody, a manager at IMB's London office. Reasons for the suffering marine companies maintaining a silence are astonishing. “The companies fear that reporting may bring a greater harm later. If the pirates pitied off physical harm to the crew members in the first raid, they might decide for physical injuries in the second. The ships have to move and the routes will not change,” Mody says. That the insurance companies would hike their premiums if every incident of piracy gets reported, is the less convincing reason for companies opting out of reporting their ordeals.


Source : IIPM Editorial, 2012.

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Mbeki finally mellows down

SA may lose democracy credentials due to its political tangles

Thabo Mbeki, former President of South Africa, was forced by African National Congress (ANC) to resign. He has been replaced by Kgalema Motlanthe. Jacob Zuma will replace Motlanthe after he wins the one-sided election, due in April 2009. The leftists within ANC, the Communist Party of South Africa and the federation of trade unions pulled Mbeki down, as they opposed his liberal economic policies. The criticism of the High Court was the proverbial last straw to work against Mbeki. Justice Chris Nicholson accused Mbeki of misusing judicial system to settle political scores with Zuma.

Mbeki was a dedicated ANC comrade who fought for the liberation of black people from the apartheid state. He transformed the image of ANC. He persuaded both international community & white South Africans to set aside their doubts of ANC ruling South Africa. But once he became the President, he centralised control and ran the country in almost Leninist fashion, his detractors allege. Like Nelson Mandela, he too didn’t take any major reformative measure to redistribute the wealth and replicated the neo-liberal economic policies. His strategy to tackle AIDS was a failure. Mbeki's adamancy not to allow the medical community to distribute anti-retroviral drugs to AIDS patients killed millions. The big question now is whether democracy will survive in South Africa. Prof. Hussein Solomon, University of Pretoria, says its uncertain. “The successors, though they say they will redistribute the wealth, will follow Mbeki's policies. If ANC continues to be all powerful without strong opposition party the country may become a banana republic,” he adds.


Source : IIPM Editorial, 2012.

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Monday, November 26, 2012

NAVEEN PATNAIK: ELECTION PROSPECTS

It’s time for Naveen Patnaik to prove his ability as a mentor

As per a WHO report, 40% of the medicines sold in the state are fake. Total turnover of such medicines in the state amounts to nearly Rs.10 billion. But Naveen’s government is yet to initiate any strong action to control the situation. His work in NREGA hasn't been phenomenal either. Panchanan Kanoongo, erstwhile Finance Minister of Orissa, avers to B&E, “A man is known from his companions. People around Naveen are corrupt and he himself has picked them for those positions. So what else can you expect?”

The time has come when Naveen Patnaik has to prove himself once again. But this time, it’s definitely not his prudence as a politician, but to 'market' his ability as a great mentor who can guide Orissa to a new age.


Source : IIPM Editorial, 2012.

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Sunday, November 25, 2012

India becomes the best place to bet on

Major auto manufacturers are on a prowl for the ideal location just as India becomes the best place to bet on. There are mind-boggling investment figures involved here, B&E’s Pawan Chabra investigates...

Players like Hyundai, Toyota, Maruti, Volkswagen and GM have already announced their plans of their Indian sojourn. Speaking on the topic, Arvind Saxena, Senior Vice President (Sales & Marketing), Hyundai Motor India asserted, “We are exporting almost 66% of the cars that are being exported from this country.” This explains the importance and acceptability of Indian manufacturing. Volkswagen on the other hand has brought a massive investment of an incredible Rs.24.5 billion for its Pune plant. Honda Siel (HSCI) on its part has already announced a Rs.10 billion Jaipur unit. The Detroit duo GM and Ford has ambitious plans as well with the former already investing a whopping Rs.12 billion in its second plant at Pune. TATA’s investment of Rs.15 billion at Singrur for the production of the much hyped Nano has also been attracting attention for long. It seems that the players in the industry have realised the potential in the Indian auto market and have begun to take it very seriously. Discussing about the potential of the new plant Janeswar Sen VP, Marketing & Sales, HSCI avers, “North India comprises of 40% of the market in India, and hence the proximity to the biggest market has been a big consideration for us. This area is on the dedicated Rail freight corridor notified by the Government of India. Therefore we can expect good infrastructure and logistics facilities here.”

Interestingly, both Maruti Suzuki and HSCI have decided to open their plants in Manesar, Haryana and Rajasthan respectively (away from the present auto belts). Other than that, HSCI also has a plant at Greater Noida. Noticeably, India mainly has two renowned auto belts, one being in the reigon of Pune- Nashik- Auranagabad and the second in the southern part of the country. Interestingly, none of them came up with an intention to create such belts in that particular region but it happened automatically. The state governments tried to lure the auto players by giving tax-holidays and the rest followed. Moreover, the proximity to ports, supporting infrastructure and presence of other players was also an added advantage for these regions.


Source : IIPM Editorial, 2012.

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Saturday, November 24, 2012

CEO PROFILE: PHILLIP R. BENETT, FORMER CEO, REFCO INC.

Of all the July 4ths that Bennett hates, he’ll hate July 4, 2008, the most. While the nation rejoiced on this day, he had already been sentenced to 16 years in Federal prison the day before... all thanks to his Dark Knight acts at Refco

He was finally caught by Refco’s newly hired controller, Peter James on October 10, 2005. As James told Bloomberg, the only reason why he perhaps caught him was because he “was a fresh pair of eyes”. What James discovered was hideous – between 2002 and 2005, Bennett made quarterly arrangements for a Refco subsidiary to lend money to a hedge fund called Liberty Corner Capital Strategy, which then lent the money to Refco Group Holdings. This way, Refco prevented write-offs of bad debts. Worst, Bennett was paying for them with money borrowed by Refco itself!

Bennett stepped down after being confronted by an internal audit for the $430 million debt to the firm and on October 12, 2005, was charged with one criminal count of securities fraud for allegedly manipulating Refco’s financial statements. After years of appeals and re-appeals, July 3, 2008, saw Judge Naomi Reice Buchwald sentence Bennett to 16 years in federal prison and ordered him to report to prison on September 4, 2008. Post 2002, there have been many cases of fraudulent corporate acts, and there have been many indicted. The July 3 event raises a question again – is investor trust worth so little? The answer we believe is ‘no’; but then Bennett believes otherwise. Or maybe he’d rethink in peace, in prison; 16 years are enough we hope! 


Source : IIPM Editorial, 2012.

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Thursday, November 22, 2012

The Next Asian Miracle

Democracies are peaceful, representative – and terrible at boosting an economy. Or at least that’s the conventional wisdom in Asia, where for years growth in India’s sprawling democracy has been humbled by China’s efficient, state-led boom.

Consider the experiences of the following two Asian countries. In 1990, Country A had a per capita GDP of $317; Country B’s stood at $461. By 2006, Country A, though 31% poorer than Country B only 16 years earlier, had caught up: It enjoyed a per capita GDP of $634, compared with Country B’s $635. So, if you had to guess, which of these two Asian countries would you assume is a democracy? You might conclude that the better-performing country is authoritarian China and the laggard is democratic India. In reality, the faster-growing country is India, and the laggard – Pakistan. This certainly belies the notion that authoritarian states have an advantage in growing an economy compared with their democratic counterparts.

But surely, the familiar China-India comparison would support an authoritarian edge, right? The conclusion seems so obvious: China is authoritarian, and it has grown faster; India is democratic, and it has grown more slowly. For years, Indians have defended their democracy with a sheepish apology – “Yes, our growth rate is terrible, but low growth rates are an acceptable price to pay to govern a democracy as large and as diverse as India.” There is no need to apologise now. India has ended the infamous 2-3% annual “Hindu rate” of growth and begun its own economic takeoff. The Indian success is not only impressive in terms of its speed – growing at the “East Asian rate” of 8-9% a year – but also in terms of its depth & breadth. The Indian miracle is no longer confined to the much vaunted IT sector; its manufacturing is taking off. Even the historically lackluster agricultural sector is beginning to grow.

So where does this leave the “authoritarian edge” that China’s economy has supposedly enjoyed for years? The emerging Indian miracle should debunk the notion that democracy is bad for growth. And the emerging Indian miracle holds substantial implications for China’s political future. As Chinese political elites mark the 30th anniversary of economic reforms this year, they should reflect on the Indian experience deeply and absorb the real reason behind their own miracle.


Source : IIPM Editorial, 2012.

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It’s all in the family!

It’s time to stop blaming one’s work schedule for those increasing waistlines, and join hands with your nearest and dearest to fight the bulge and stay healthy.

A family that sweats it out together, stays together!

Although improving one’s self image doesn’t pass off as the latest lifestyle trend, the new progressive means of achieving the same have always been the talk of the town. Most often, the pace of life (or just the excuse of it) keeps one from joining regular work out sessions be it a flexi-hour gym or a 24-hours-open lush green park near one’s residence. The solution lies in incorporating exercise into your daily life, by making it a family affair. There are surveys that have proved that children prefer exercising with parents, and we dare say, time spent playing and exercising together is time well spent. More and more people are realising that family work-outs result in not only a good looking family but also one in harmony with each other.

One has the option of setting-up domestic exercise equipments at home, or if one faces cost constraints, then the cheaper option is to pick up videos of yoga, aerobics etc. and practice them together. Another latest trend and a more sustainable technique of shedding those extra kilograms is to call the trainer home, who will also wait in your house till you make up your mind to get into your sports gear! “It is difficult to be on your own when it comes to work-outs,” say the Mathurs who have a Yoga instructor visit their home and train the family together. “Guruji has helped all four of us lose a lot of weight and since all of us are involved, everyone is equally conscious of the food we eat; making the process much easier in the kitchen too,” says the lady of the house, Bina Mathur.

If you’re up for it, instead of making the kids join you in yoga etc., you could join them at the playground. Play tag, participate in races, and do allow a head-start to your kids to even their chances of winning. Try keeping up everyone’s interest by rewarding them for their sweat and toil, say by taking them to the mall or for a movie!


Source : IIPM Editorial, 2012.

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Tuesday, November 20, 2012

Ploughing a lonely furrow

Battling huge odds and crass opportunism, Yediyurappa has shown time and again why he is the king

B. S. Yediyurappa has pretty much ploughed a lonely furrow in Karnataka. In a well-entrenched Congress system dominated by patriarchal politicians, it was difficult for political preachers of a different persuasion to tell their side of the story – and make an impact. So, Yediyurappa’s accession as the first saffron Chief Minister (CM) in South India is a little more than symbolic.

Yediyurappa’s journey from Karnataka's Mandya district to Bangalore’s Vidhana Soudha is a chequered one. The twentyfifth Chief Minister of Karnataka, a RSS pracharak, is a fighter. His political destiny began in 1983 when as BJP member, he won and entered the state assembly. Since then, Yediyurappa has single-handedly carried on. In the last two decades, he had lots to contend with; yet at the end, Yediyurappa has emerged triumphant.

Between 1983 to 2008, the BJP has grown from one to 110 seats and a large part of that credit goes to Yediyurappa. He was architect of the doomed Congress-JD(S) power sharing agreement of 2006-07. But by doing it, Yediyurappa got the BJP its first taste of power in the state.


Source : IIPM Editorial, 2012.

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No permanent friends or foes

Left is peeved with Amar Singh for taking SP closer to Congress

British politics during its colonial era of the 19th and 20th centuries, revolved around one underlying dictum: there are no permanent friends or enemies in politics. The only thing permanent is self –interest. Amar Singh and his relationship with the Left parties fall into this hoary category.

If the inexplicable opposition of the Left parties to the Congress has become the hall-mark of contemporary Indian politics since the last four years, it is now the turn of the Samajwadi Party to put its relations with the Left parties at stake.

The main point of disagreement between the two allies has been the Women’s Reservation Bill which was recently tabled in the Parliament and had the Left’s support. SP leaders are dismayed that despite private assurances and their intense opposition to the bill, the Left supported it.


Source : IIPM Editorial, 2012.

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Sunday, November 18, 2012

PORSCHE: TAKEOVER BID

Piëch would find the Saxon barrier quite unfathomable

Evidently not. In Germany (Volkswagen’s home country), a minimum of 80% stake is required to pass majority resolutions in general meetings. Worse, the state of Lower Saxony, VW’s home state, is against the idea. The reasons are not far to find. At a recent meeting between the top management of both the companies, workers protested the Porsche move on the grounds that a takeover would eventually reduce VW’s pro- worker polices and therefore labour interests will be adversely affected.

And why should the Saxons matter? To Porsche’s horror, it comes to light now that the state has a blocking 20.1% stake in the company. That means that even if Porsche tries to buy up smaller investors, there is least likelihood of it ever reaching the magical 80% figure. Before Piëch thinks of steamrolling the Saxons into submission, we’d like to mention... Sir, the last time the Saxons got defeated in a war was in the 8th century AD!


Source : IIPM Editorial, 2012.

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Wednesday, November 14, 2012

MADHYA PRADESH: CRACKDOWN

On their hitlist were L.K. Advani and Narendra Modi

The past cases against the outfit are so many that each of the police teams has sought separate sessions with the accused. After their 14-day police remand is over the 18 outlaws will again be produced before the court on April 11. Established in 1977, SIMI was banned in 2001 after police suspected it of subversive activities. The outfit’s twisted ideology draws nourishment from the voluminous works of Islamist ideologue Sayyed Abul Ala Mau-dudi who founded the Jama'at-i Islami.

Mau-dudi’s mission, appropriated wholesale by SIMI, was to usher in a rabidly monotheistic tauhid. In this scheme of things nationalism is seen as one more dangerous farce – devised by non-Muslim 'enemies of the faith'. Among other things they are blamed for creating uholy divisions among the godfearing Muslims. SIMI’s war is directed against all these 'traitors' – the so-called kafirs .


Source : IIPM Editorial, 2012.

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Friday, November 9, 2012

Right hair, right now

Finally, a fairytale ending for a timeless ‘hairytale’ ?!

Barring phallus and breast size, nothing in the history of mankind has interested, mystified, intrigued and puzzled humans about personal appearance more than human hair… or the lack of it. Annals have pointed to some bizarre and weird methods to hide male and female baldness. Chinese used to wear horses’ tails on their heads. Greeks would eat hair to get hair. Some tribes also believed that washing hair with certain animal’s blood would revitalise their thinning hair. Then came the wigs, which were almost patronised by Queen Elizabeth I in 1600s in her court with her legendary red and curly wig. Since then, till early 20th century, almost all men and women of prestige and power customarily wore wigs in the English and the French courts.

And in our times, came the resurrection in the form of hair weaving and hair transplant. Though on the pricy side, it did provide means by which harrowed people could conceal their receding hairlines. However, it was a curative measure rather than preventive.

But what has come by means of a study conducted by Bonn University has come as a whiff of fresh (h)air. A gene has been recognised by dermatologists in Bonn that plays an all important role in the prevention of revival of hair. By inhibiting its growth, regeneration of hair is not just a possibility; it’s a damn near probability.


Source : IIPM Editorial, 2012.

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Thursday, November 8, 2012

Ban The Budget

The top-20% take everything away & in turn leave the bottom 80% with nothing, forever placing them at a serious disadvantage. In a democracy like ours, if this does not get upturned, the budget loses its essential quintessence...

Before the honourable Finance Minister Mr. P. Chidambaram goes on to deliver another of his Union Budget speeches (this is his seventh) on 29th February, 2008, isn’t it reasonable for him to introspect in retrospect what have been the effects of his previous seven budgets on the Indian economy? Isn’t it essential for a Finance Minister to know whether his previous budgetary initiatives have been instrumental in pulling out even one Indian out of the millions from indigence and insolvency? Isn’t it fair common sense to find out how many new children have got admitted to the various schools across the country? Doesn’t it make sense to ask how many mothers are still dying in this country while giving birth; or for that matter, how many of his countrymen are still dying of curable diseases like TB and malaria? For all the budgetary allocations that have been announced over the years, isn’t it significant to know how many young Indians still stand productively disengaged, devoid of any essential human capabilities and developmental capacities? Or for that matter for all the budgets that have been allocated over the years, isn’t it imperative to take stock of the status of our senior citizens, people of special needs, Dalits and women? And finally, isn’t it most urgent to know what has been the status on justice delivery - the bedrock of democratic India?

If a Finance Minister, guided by conventions, does not feel that it is his job to take a stock of all these strategic socio-economic outcomes, then there’s no point in the entire budget exercise. Even if a Finance Minister defies all conventions and makes an attempt to take stock of the aforementioned parameters and does not find convincing improvements, then too, there is no economic rationale to continue the budget exercise in its extent and entire versions. For it has been long that politicians of this ministry have been aiming at power, and power without any responsibility. It’s important for policy makers to realise that the Union Budget is a national exercise, wherein each and every citizen contributes to its fund, in form of taxes (direct and indirect) and thus it should be an exercise wherein the benefits should encompass each and every citizen’s life in a definite and proportionate fashion. The crude fact is that in the present budgetary framework, the top 20% of the society take everything away and in turn leave the underprivileged bottom 80% with nothing, forever placing them at a serious disadvantage. In a functional democracy like ours, if this does not get upturned, the entire budget exercise loses its essential quintessence.


Source : IIPM Editorial, 2012.

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IIPM : The B-School with a Human Face
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