Been quite a while
Dec 12, 2009
I have told myself umpteen number of times to get back to writing but given the pressures, it just doesn't happen. There are so many things happening around me that writing always takes a back seat.
However, there is no excuse for not being prudent with your hobby. I realized and admit that I love to write and aspire to write a great book sometime in my lifetime. So, to do justice to that dream, I should not quit writing.
2009 was disastrous for my blog. This is my third post in 2009!!!
Anyway, I will try to be nicer in 2010.
Lot of things going around the world. Last week, Bajaj finally came out of the scooter business. "Buland Bharat ki Buland tasveer" is now humming the motorcycle tune. When they discontinued Chetak three years ago, that was a signal. Now, we have the signboard! I remember reading somewhere that during License Raj, there used to be an 18 months waiting time to get a Bajaj Scooter! Now, the wait is eternal!
In Copenhagen, everyone is waiting for the other one to take lead! Developing countries are blaming the developed world for not cutting emissions as signed in Kyoto Protocol. Developed world thinks that it's time for emerging countries to participate and show some respect to the mother earth! It's not that developing countries have not set a target for themselves, but these are not legally binding which makes the developed world nervous. Who's right? I have no idea! Negotiations are still under way!
Tiger woods is famous again, only this time, for wrong reasons!
Sachin was felicitated by Mukesh Ambani........Great Stuff!
Reliance Industries is planning to acquire a controlling stake in the Dutch Chemical Giant, LyondellBasell Industries thereby giving itself a ticket to Forbes 50!
So many things are happening around and I keep complaining that I don't know what to talk about....I am sure I will find something to comment about and you will find some time to visit my blog.....let's keep this going!
Godrej plans ultra-cheap refrigerators
Sep 6, 2009
One of my colleagues forwarded me this article: Godrej plans ultra-cheap refrigerators The article left me wondering if India needs a 6L refrigerator. And don't we already have such a product in the market (may be at a higher price point). More so, I was wondering where would this product fit in the price-performance graph?! In the article, product was compared with Tata Nano the way it would re-establish entry point. I would further wait and watch if it really does that. Tata Nano can fit 4 people and technically qualifies to be called a family car. As you move up the value chain in your choice of car, you get better performance, safety, style, etc but essentially all of them fit 4 people. That's what a family car is supposed to do. In this case, I wonder which household, however small, needs a 6L refrigerator. I often observe people complaining about how small a 165L refrigerator is. Imagine keeping the leftover food from the dinner to save for the next lunch on a 6L fridge! Anyway, this is what I feel about this so-called revolutionary product from Godrej. Let's wait and see if it really changes the market dynamics. I will be happy if I am wrong but I am afraid I won't be!
The Lexus and The Oilve Tree
Aug 1, 2009
I first read the journalist-author Thomas Friedman 4 years back through his book "World is Flat". While I was reading that book, I knew that I do not have the background on which the author is basing his judgment on globalization. I inquired if he has written another book on the same topic so as to better understand where he is coming from.
That's how I was directed to this GREAT book: The Lexus and The Olive Tree.
This book is one of the most definitive books on globalization. Although written in 1999, it is a timeless book and the explanations and predictions makes perfect sense even now.
"The Lexus" symbolizes the "new" world with new power definition (read as end of cold war), electronic herds, super-empowered individuals, internet, connectivity etc and "The Olive Tree" symbolizes the nation-boundary, culture, religion, identity etc.
The author portrays the constant tension between the lexus and the olive tree and their never-ending attempts to overpower each other. The book has several high points and given that the author is a world traveler, he draws on his experiences in different parts of the world. He has a great observation power and many of his anecdotes are things which we experience everyday but never dwell enough on those incidents to make sense of them.
Picture this: "An Indian woman in traditional saree and heavily laden gold jewellery sitting in an international airport in the USA intently watching two almost-naked fighters wrestling each other on TV and at the same time, typing an SMS on her mobile phone. Next to her, her husband is busy on his laptop catching up on the news on a local indian newspaper website to know what is happening in his hometown." For most of us, this will not attract any attention but to the author, he sees events like this as an amalgamation of lexus and the olive tree.
Overall, I just loved the way the book has been written. Every page leaves you wanting for more and forces you to think hard.
A must read for anyone who wants to make sense of the world!
Obama's Victory Speech
Nov 5, 2008
Just wanted to put this on my blog as I really liked this speech....
-------------------------------------------------------------------------------------------
OBAMA: Hello, Chicago. If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer.
It's the answer told by lines that stretched around schools and churches in numbers this nation has never seen, by people who waited three hours and four hours, many for the first time in their lives, because they believed that this time must be different, that their voices could be that difference.
It's the answer spoken by young and old, rich and poor, Democrat and Republican, black, white, Hispanic, Asian, Native American, gay, straight, disabled and not disabled. Americans who sent a message to the world that we have never been just a collection of individuals or a collection of red states and blue states. We are, and always will be, the United States of America.
It's the answer that led those who've been told for so long by so many to be cynical and fearful and doubtful about what we can achieve to put their hands on the arc of history and bend it once more toward the hope of a better day.
It's been a long time coming, but tonight, because of what we did on this date in this election at this defining moment change has come to America.
A little bit earlier this evening, I received an extraordinarily gracious call from Senator McCain. Senator McCain fought long and hard in this campaign. And he's fought even longer and harder for the country that he loves. He has endured sacrifices for America that most of us cannot begin to imagine. We are better off for the service rendered by this brave and selfless leader.
I congratulate him; I congratulate Governor Palin for all that they've achieved. And I look forward to working with them to renew this nation's promise in the months ahead.
I want to thank my partner in this journey, a man who campaigned from his heart, and spoke for the men and women he grew up with on the streets of Scranton ... and rode with on the train home to Delaware, the vice president-elect of the United States, Joe Biden.
And I would not be standing here tonight without the unyielding support of my best friend for the last 16 years ... the rock of our family, the love of my life, the nation's next first lady ... Michelle Obama. Sasha and Malia ... I love you both more than you can imagine. And you have earned the new puppy that's coming with us ...to the new White House.
And while she's no longer with us, I know my grandmother's watching, along with the family that made me who I am. I miss them tonight. I know that my debt to them is beyond measure.
To my sister Maya, my sister Alma, all my other brothers and sisters, thank you so much for all the support that you've given me. I am grateful to them.
And to my campaign manager, David Plouffe ... the unsung hero of this campaign, who built the best _ the best political campaign, I think, in the history of the United States of America.
To my chief strategist David Axelrod ... who's been a partner with me every step of the way. To the best campaign team ever assembled in the history of politics ... you made this happen, and I am forever grateful for what you've sacrificed to get it done.
But above all, I will never forget who this victory truly belongs to. It belongs to you. It belongs to you.
I was never the likeliest candidate for this office. We didn't start with much money or many endorsements. Our campaign was not hatched in the halls of Washington. It began in the backyards of Des Moines and the living rooms of Concord and the front porches of Charleston.
It was built by working men and women who dug into what little savings they had to give $5 and $10 and $20 to the cause. It grew strength from the young people who rejected the myth of their generation's apathy ... who left their homes and their families for jobs that offered little pay and less sleep; from the not-so-young people who braved the bitter cold and scorching heat to knock on the doors of perfect strangers; from the millions of Americans who volunteered, and organized, and proved that more than two centuries later, a government of the people, by the people and for the people has not perished from this Earth. This is your victory.
"I know you didn't do this just to win an election and I know you didn't do it for me. You did it because you understand the enormity of the task that lies ahead. For even as we celebrate tonight, we know the challenges that tomorrow will bring are the greatest of our lifetime, two wars, a planet in peril, the worst financial crisis in a century.
"Even as we stand here tonight, we know there are brave Americans waking up in the deserts of Iraq and the mountains of Afghanistan to risk their lives for us. There are mothers and fathers who will lie awake after their children fall asleep and wonder how they'll make the mortgage, or pay their doctor's bills, or save enough for college. There is new energy to harness and new jobs to be created; new schools to build and threats to meet and alliances to repair.
The road ahead will be long. Our climb will be steep. We may not get there in one year or even in one term. But, America, I have never been more hopeful than I am tonight that we will get there. I promise you, we as a people will get there.
AUDIENCE: Yes we can! Yes we can! Yes we can!
OBAMA : There will be setbacks and false starts. There are many who won't agree with every decision or policy I make as president. And we know the government can't solve every problem. But I will always be honest with you about the challenges we face. I will listen to you, especially when we disagree. And, above all, I will ask you to join in the work of remaking this nation, the only way it's been done in America for 221 years _ block by block, brick by brick, calloused hand by calloused hand.
What began 21 months ago in the depths of winter cannot end on this autumn night. This victory alone is not the change we seek. It is only the chance for us to make that change. And that cannot happen if we go back to the way things were. It can't happen without you, without a new spirit of service, a new spirit of sacrifice.
So let us summon a new spirit of patriotism, of responsibility, where each of us resolves to pitch in and work harder and look after not only ourselves but each other.
Let us remember that, if this financial crisis taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers. In this country, we rise or fall as one nation, as one people. Let's resist the temptation to fall back on the same partisanship and pettiness and immaturity that has poisoned our politics for so long.
Let's remember that it was a man from this state who first carried the banner of the Republican Party to the White House, a party founded on the values of self-reliance and individual liberty and national unity. Those are values that we all share. And while the Democratic Party has won a great victory tonight, we do so with a measure of humility and determination to heal the divides that have held back our progress.
As Lincoln said to a nation far more divided than ours, we are not enemies but friends. Though passion may have strained, it must not break our bonds of affection.
And to those Americans whose support I have yet to earn, I may not have won your vote tonight, but I hear your voices. I need your help. And I will be your president, too.
And to all those watching tonight from beyond our shores, from parliaments and palaces, to those who are huddled around radios in the forgotten corners of the world, our stories are singular, but our destiny is shared, and a new dawn of American leadership is at hand.
To those who would tear the world down: We will defeat you. To those who seek peace and security: We support you. And to all those who have wondered if America's beacon still burns as bright: Tonight we proved once more that the true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals: democracy, liberty, opportunity and unyielding hope.
For that's the true genius of America: that America can change. Our union can be perfected. What we've already achieved gives us hope for what we can and must achieve tomorrow.
This election had many firsts and many stories that will be told for generations. But one that's on my mind tonight's about a woman who cast her ballot in Atlanta. She's a lot like the millions of others who stood in line to make their voice heard in this election except for one thing: Ann Nixon Cooper is 106 years old.
She was born just a generation past slavery; a time when there were no cars on the road or planes in the sky; when someone like her couldn't vote for two reasons _ because she was a woman and because of the color of her skin.
And tonight, I think about all that she's seen throughout her century in America _ the heartache and the hope; the struggle and the progress; the times we were told that we can't, and the people who pressed on with that American creed: Yes we can.
At a time when women's voices were silenced and their hopes dismissed, she lived to see them stand up and speak out and reach for the ballot. Yes we can.
When there was despair in the dust bowl and depression across the land, she saw a nation conquer fear itself with a New Deal, new jobs, a new sense of common purpose. Yes we can.
AUDIENCE : Yes we can.
OBAMA: When the bombs fell on our harbor and tyranny threatened the world, she was there to witness a generation rise to greatness and a democracy was saved. Yes we can.
AUDIENCE: Yes we can.
OBAMA: She was there for the buses in Montgomery, the hoses in Birmingham, a bridge in Selma, and a preacher from Atlanta who told a people that We Shall Overcome. Yes we can.
AUDIENCE: Yes we can.
OBAMA: A man touched down on the moon, a wall came down in Berlin, a world was connected by our own science and imagination. And this year, in this election, she touched her finger to a screen, and cast her vote, because after 106 years in America, through the best of times and the darkest of hours, she knows how America can change. Yes we can.
AUDIENCE: Yes we can.
OBAMA : America, we have come so far. We have seen so much. But there is so much more to do. So tonight, let us ask ourselves _ if our children should live to see the next century; if my daughters should be so lucky to live as long as Ann Nixon Cooper, what change will they see? What progress will we have made?
This is our chance to answer that call. This is our moment. This is our time, to put our people back to work and open doors of opportunity for our kids; to restore prosperity and promote the cause of peace; to reclaim the American dream and reaffirm that fundamental truth, that, out of many, we are one; that while we breathe, we hope. And where we are met with cynicism and doubts and those who tell us that we can't, we will respond with that timeless creed that sums up the spirit of a people: Yes, we can.
Thank you. God bless you. And may God bless the United States of America.
Source: TIMES OF INDIA
-------------------------------------------------------------------------------------------
OBAMA: Hello, Chicago. If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer.
It's the answer told by lines that stretched around schools and churches in numbers this nation has never seen, by people who waited three hours and four hours, many for the first time in their lives, because they believed that this time must be different, that their voices could be that difference.
It's the answer spoken by young and old, rich and poor, Democrat and Republican, black, white, Hispanic, Asian, Native American, gay, straight, disabled and not disabled. Americans who sent a message to the world that we have never been just a collection of individuals or a collection of red states and blue states. We are, and always will be, the United States of America.
It's the answer that led those who've been told for so long by so many to be cynical and fearful and doubtful about what we can achieve to put their hands on the arc of history and bend it once more toward the hope of a better day.
It's been a long time coming, but tonight, because of what we did on this date in this election at this defining moment change has come to America.
A little bit earlier this evening, I received an extraordinarily gracious call from Senator McCain. Senator McCain fought long and hard in this campaign. And he's fought even longer and harder for the country that he loves. He has endured sacrifices for America that most of us cannot begin to imagine. We are better off for the service rendered by this brave and selfless leader.
I congratulate him; I congratulate Governor Palin for all that they've achieved. And I look forward to working with them to renew this nation's promise in the months ahead.
I want to thank my partner in this journey, a man who campaigned from his heart, and spoke for the men and women he grew up with on the streets of Scranton ... and rode with on the train home to Delaware, the vice president-elect of the United States, Joe Biden.
And I would not be standing here tonight without the unyielding support of my best friend for the last 16 years ... the rock of our family, the love of my life, the nation's next first lady ... Michelle Obama. Sasha and Malia ... I love you both more than you can imagine. And you have earned the new puppy that's coming with us ...to the new White House.
And while she's no longer with us, I know my grandmother's watching, along with the family that made me who I am. I miss them tonight. I know that my debt to them is beyond measure.
To my sister Maya, my sister Alma, all my other brothers and sisters, thank you so much for all the support that you've given me. I am grateful to them.
And to my campaign manager, David Plouffe ... the unsung hero of this campaign, who built the best _ the best political campaign, I think, in the history of the United States of America.
To my chief strategist David Axelrod ... who's been a partner with me every step of the way. To the best campaign team ever assembled in the history of politics ... you made this happen, and I am forever grateful for what you've sacrificed to get it done.
But above all, I will never forget who this victory truly belongs to. It belongs to you. It belongs to you.
I was never the likeliest candidate for this office. We didn't start with much money or many endorsements. Our campaign was not hatched in the halls of Washington. It began in the backyards of Des Moines and the living rooms of Concord and the front porches of Charleston.
It was built by working men and women who dug into what little savings they had to give $5 and $10 and $20 to the cause. It grew strength from the young people who rejected the myth of their generation's apathy ... who left their homes and their families for jobs that offered little pay and less sleep; from the not-so-young people who braved the bitter cold and scorching heat to knock on the doors of perfect strangers; from the millions of Americans who volunteered, and organized, and proved that more than two centuries later, a government of the people, by the people and for the people has not perished from this Earth. This is your victory.
"I know you didn't do this just to win an election and I know you didn't do it for me. You did it because you understand the enormity of the task that lies ahead. For even as we celebrate tonight, we know the challenges that tomorrow will bring are the greatest of our lifetime, two wars, a planet in peril, the worst financial crisis in a century.
"Even as we stand here tonight, we know there are brave Americans waking up in the deserts of Iraq and the mountains of Afghanistan to risk their lives for us. There are mothers and fathers who will lie awake after their children fall asleep and wonder how they'll make the mortgage, or pay their doctor's bills, or save enough for college. There is new energy to harness and new jobs to be created; new schools to build and threats to meet and alliances to repair.
The road ahead will be long. Our climb will be steep. We may not get there in one year or even in one term. But, America, I have never been more hopeful than I am tonight that we will get there. I promise you, we as a people will get there.
AUDIENCE: Yes we can! Yes we can! Yes we can!
OBAMA : There will be setbacks and false starts. There are many who won't agree with every decision or policy I make as president. And we know the government can't solve every problem. But I will always be honest with you about the challenges we face. I will listen to you, especially when we disagree. And, above all, I will ask you to join in the work of remaking this nation, the only way it's been done in America for 221 years _ block by block, brick by brick, calloused hand by calloused hand.
What began 21 months ago in the depths of winter cannot end on this autumn night. This victory alone is not the change we seek. It is only the chance for us to make that change. And that cannot happen if we go back to the way things were. It can't happen without you, without a new spirit of service, a new spirit of sacrifice.
So let us summon a new spirit of patriotism, of responsibility, where each of us resolves to pitch in and work harder and look after not only ourselves but each other.
Let us remember that, if this financial crisis taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers. In this country, we rise or fall as one nation, as one people. Let's resist the temptation to fall back on the same partisanship and pettiness and immaturity that has poisoned our politics for so long.
Let's remember that it was a man from this state who first carried the banner of the Republican Party to the White House, a party founded on the values of self-reliance and individual liberty and national unity. Those are values that we all share. And while the Democratic Party has won a great victory tonight, we do so with a measure of humility and determination to heal the divides that have held back our progress.
As Lincoln said to a nation far more divided than ours, we are not enemies but friends. Though passion may have strained, it must not break our bonds of affection.
And to those Americans whose support I have yet to earn, I may not have won your vote tonight, but I hear your voices. I need your help. And I will be your president, too.
And to all those watching tonight from beyond our shores, from parliaments and palaces, to those who are huddled around radios in the forgotten corners of the world, our stories are singular, but our destiny is shared, and a new dawn of American leadership is at hand.
To those who would tear the world down: We will defeat you. To those who seek peace and security: We support you. And to all those who have wondered if America's beacon still burns as bright: Tonight we proved once more that the true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals: democracy, liberty, opportunity and unyielding hope.
For that's the true genius of America: that America can change. Our union can be perfected. What we've already achieved gives us hope for what we can and must achieve tomorrow.
This election had many firsts and many stories that will be told for generations. But one that's on my mind tonight's about a woman who cast her ballot in Atlanta. She's a lot like the millions of others who stood in line to make their voice heard in this election except for one thing: Ann Nixon Cooper is 106 years old.
She was born just a generation past slavery; a time when there were no cars on the road or planes in the sky; when someone like her couldn't vote for two reasons _ because she was a woman and because of the color of her skin.
And tonight, I think about all that she's seen throughout her century in America _ the heartache and the hope; the struggle and the progress; the times we were told that we can't, and the people who pressed on with that American creed: Yes we can.
At a time when women's voices were silenced and their hopes dismissed, she lived to see them stand up and speak out and reach for the ballot. Yes we can.
When there was despair in the dust bowl and depression across the land, she saw a nation conquer fear itself with a New Deal, new jobs, a new sense of common purpose. Yes we can.
AUDIENCE : Yes we can.
OBAMA: When the bombs fell on our harbor and tyranny threatened the world, she was there to witness a generation rise to greatness and a democracy was saved. Yes we can.
AUDIENCE: Yes we can.
OBAMA: She was there for the buses in Montgomery, the hoses in Birmingham, a bridge in Selma, and a preacher from Atlanta who told a people that We Shall Overcome. Yes we can.
AUDIENCE: Yes we can.
OBAMA: A man touched down on the moon, a wall came down in Berlin, a world was connected by our own science and imagination. And this year, in this election, she touched her finger to a screen, and cast her vote, because after 106 years in America, through the best of times and the darkest of hours, she knows how America can change. Yes we can.
AUDIENCE: Yes we can.
OBAMA : America, we have come so far. We have seen so much. But there is so much more to do. So tonight, let us ask ourselves _ if our children should live to see the next century; if my daughters should be so lucky to live as long as Ann Nixon Cooper, what change will they see? What progress will we have made?
This is our chance to answer that call. This is our moment. This is our time, to put our people back to work and open doors of opportunity for our kids; to restore prosperity and promote the cause of peace; to reclaim the American dream and reaffirm that fundamental truth, that, out of many, we are one; that while we breathe, we hope. And where we are met with cynicism and doubts and those who tell us that we can't, we will respond with that timeless creed that sums up the spirit of a people: Yes, we can.
Thank you. God bless you. And may God bless the United States of America.
Source: TIMES OF INDIA
It's so difficult to restart
Oct 27, 2008
It's an idle afternoon on one of the lucky Mondays. It's a holiday on the occasion of Deepawali and I am getting bored here. Suddenly, I thought of my blog and came back to visit it after really long time and felt so nostalgic about it that I sat to write something....
Life was so different last year when I was in School and I had all the time in the world to blog. Even though I had so many assignments to prepare, presentations to make and classes to attend, I always used to get time for blogging.
Now, it's different. My mind is always occupied with something at work. Often times, these are topics on which I can not blog (or should not blog). I am attending some conference calls or replying to someone's email. People always reply back for you to reply again in such a short time (thanks to blackberry age!). You are caught in a perpetual cycle of mails, calls, and meetings.
But I see a lot of professionals who get time for blogging. What am I missing here? What am I not doing right? If I love to write, why am I not getting time to do so? or is it that I am getting time, but not setting the priorities right?
Well, all these questions needs some introspection and I will get back with answers. 2008 was too uneventful for my blog. Just 13 posts (including this one!).
Let's see how does 2009 (still 2 months to go) behave....I am sure I will go find a meaning for my blog in 2 months...Till then, please hang on!
Life was so different last year when I was in School and I had all the time in the world to blog. Even though I had so many assignments to prepare, presentations to make and classes to attend, I always used to get time for blogging.
Now, it's different. My mind is always occupied with something at work. Often times, these are topics on which I can not blog (or should not blog). I am attending some conference calls or replying to someone's email. People always reply back for you to reply again in such a short time (thanks to blackberry age!). You are caught in a perpetual cycle of mails, calls, and meetings.
But I see a lot of professionals who get time for blogging. What am I missing here? What am I not doing right? If I love to write, why am I not getting time to do so? or is it that I am getting time, but not setting the priorities right?
Well, all these questions needs some introspection and I will get back with answers. 2008 was too uneventful for my blog. Just 13 posts (including this one!).
Let's see how does 2009 (still 2 months to go) behave....I am sure I will go find a meaning for my blog in 2 months...Till then, please hang on!
Bankruptcy for an Investment Bank
Sep 19, 2008
Ed Morrison, a professor and bankruptcy expert at Columbia Law School gives some wonderful analysis on how different Bankruptcy laws when it comes to Investment Bank. The article was written by Roger Parloff.
LINK TO ARTICLE
Enjoy Reading and enlighten yourself....
...and by the way, if you are yet to be educated on Subprime mortgage crisis...Read THIS
Sunk Cost !?
Aug 5, 2008
What is sunk cost?
Wikipedia defnes sunk costs as the costs that have been incurred and which cannot be recovered to any significant degree.
Wikipedia defnes sunk costs as the costs that have been incurred and which cannot be recovered to any significant degree.
I just had a first hand feeling of sunk cost when my 10+ hours of research on mobile phones went down the drain. I was told that I am eligible for a handset upgrade and I was given plethora of options to choose from. Having an analytical insect inside my vein, I took the job with all my diligence and spirit. Even going all the way to use a concept selection matrix (pugh matrix) to choose from the vital few to the one model. Finally, after spending several hours reading reviews on various website, I had a winner. My body and soul was all set to accept Nokia E66 as the next phone for them. They were just too eager to meet and the order was even placed to Singtel.
But then came the murphy!!! Hello, did you guys forget me..I mean altogether forgot who I am?? I do exist, you know!
"Mr, You don't qualify for a change of handset yet and I am afraid you will have to wait until your current contract expires next year in Feb."
So, what about all my hardwork? Well, that's what they call - sunk cost….!!!
Afterall, Moto Razr V3 is not a bad phone after all! Not for another 210 days, that is!!
Commencement and the journey ahead....
Jul 8, 2008
Hey.....It's me again....
I am a full MBA now, technically!
We had our commencement (convocation) this morning and we are finally conferred the revered MBA degree. It was one class of an event and it was made as classy as it can possibly get. Not even in the movies, have I seen such a wonderful way to celebrate the achievement and excellence, so to speak.
We flew our mortar board cap and took numerous pictures. Will upload some of the pictures later.
I am missing the celebration dinner and compensating for it here at the lounge waiting for my flight to Shanghai which takes off in another hour or so.
Coming back to MBA, NUS had everything great about it for the last 2 years and the ceremony which officially marked the end of the journey was a befitting end to it. They say it's just the beginning. I hate to admit that they are right. As the guest of honor, Jim Rogers, rightly mentioned that the big bad world is waiting for us out there and we should not be too complacent to have achieved this feat called MBA. It might help you get the first job, or may be the second one. After that, you are on your own. Well, MBA already gave me more than 3 jobs and definitely, I am on my own now....Wish me luck!
GE is out of Kitchen.....
May 18, 2008
GE finally decides to sell / spin off its appliance division as it faces pressures from the declining appliance market and unstable corporate performance. When I was a part of this business from 2002 to 2006, I often heard this rumor but it never came true. There was little or no reason for me to be afraid as my employer was not GE and I would have found another job at my employer's other divisions if this business was shut down. We often used to hear sentimental reasons for not selling off the appliance division. Because Edison invented electric bulb (now part of appliance division), GE was supposedly putting up with the bleeding division.
Analysts estimate sales in the appliance business, which posted revenue of $7 billion last year, are likely to decline between 10 percent and 12 percent this year. That stems from weak consumer spending and a drop in home improvement sales and residential construction (Source).
I was just wondering about the aftermath of this move. There are so many people dependent on that business and if it is sold to say, Whirlpool (which already bought Maytag in 2006 and terminated most of the employees) which is already running an exactly similar business, there will be so many people who will lose jobs (GE Appliance employs approximately 13000 people worldwide - Source) . A spinoff may be a better option for the appliance division as it will atleast keep the people intact but that seems very unlikely given the plight of the market. Who will buy an ailing appliance division?
GE appliance has a huge network of suppliers as any business with an annual revenue of $ 7 billion will obviously have. Now, with a company like Whirlpool buying GE Appliances, I bet they will kill more than half of the suppliers, if not all, because they must have loads of MBAs a dn supply chain evangelists thinking about strategic procurement and harnessing economies of scale out there! So much for these concepts!
Let's turn out focus to the outsourcing partners of GE Appliance (I was at one of them for 4 years). I don't know what would convince the new buyer of the company to continue with these partners. My guess is that all of the contracts will be terminated due to some clause mentioned in the 200 page contract which would probably read like this ... " In the event of company being sold out blah blah blah".... All said and done, nearly 500-1000 people will again look for jobs and realign their energies elsewhere.
Why am I counting all the effects of this move? Is it such a shocking news after all? Didn't I enjoy reading the book "Straight from the gut" by Jack Welch which was full of such stories? Isn't Jeff Immelt reacting to the recent share market disaster which GE displayed for the first time in recent history (Source)? All said and done, there is nothing wrong in what GE leadership is doing and it was destined to happen one day. My only concern is that this is the first time I am putting faces to a restructuring / sell off decision and I can see the effect much more clearly. I just hope that the entire episode is handled in a humane manner with mimimum losses to people I care for and I know personally.
This reminds me of the article written by Milton Friedman titled as The Social Responsibility of Business is to Increase its Profits! Milton Friedman claims, "there is one and only one social responsibility of business–to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."
Looks like everyone believes in his logic these days! Certainly, the executives at GE certainly do!
Posted by
Anshuman
at
3:50 PM
2
comments
Labels: GE, Leadership, opinion, Point of View, Supply Chain Management
Before I leave......
Apr 25, 2008
I am sure everyone has a list of things to do before they leave this earth for "god-knows-where"! I have 2 passions in life (non academic and non work related) - Reading and Traveling (this one is new). I will speak of the former in this post as I have not really come up with a list of places I must see but I have come up with a list of books I must read. Or rather, I have come up with many lists!
Let's begin with an information overload!
Here are some of the great novels and work of fiction (whatever you choose to call it) of all times. I was digging up the most authentic list but looks like I do not have either the acumen nor the authority to find which one is THE MOST authentic. So, I settled with these four:
Time's List
Guardian's List
Modern Library's List
BBC's List
But then, I thought unless I resolve the issue that which one is most authentic, how do I know which one to follow? There is some ambiguity and inconsistency in these lists and I was really confused as to which one should I use for my reference. For example, Moden Library (Reader's List) has almost all of Ayn Rand's books in the list where as BBC doesn't even talk about her. The reverse is the case with Terry Pratchet! BBC has 15 of his novels in the top 200 lists where as Modern Library doesn't even mention it. Time and Guardian also doesn't think that Ayn Rand should be there....
So, which one do I use? I thought I will use my taste as a hint of which list suits me more. I am a die hard fan of Ayn Rand and only the Modern Library list has given full justice to her. Besides, I did a quick check if novels which I have read and feel that they should be a part of the lists are there or not? Novels like Catch 22, To Kill a Mocking Bird, The Great Gatsby, The Catcher in the Rye, 1984 etc etc. Modern Library List scores full marks on this and I have my answer now. Hence, I will rather go with the modern library list.
But, Modern Library has missed some of my favorite books like "Love in the time of Cholera" and "All Quiet on the Western Front". So, I guess I will make a list of my own very soon and follow that. But it will be mostly derived from the Modern Library.
Basically, on my 60th Birthday, I should have a look at the list and proudly say to my grandchildren that I have read them all! That's the long term goal. Short term goal is to get my hands on the three books which are on my shelf - "Lord of the Rings", "Guns, Germs and Steel" and "The Lexus and the Olive Tree"
My reading times will start again which was on halt for long - ever since I thought about taking GMAT in May 2005. Life never stopped after that and now since I am done with my MBA and back in the work force, I guess I should get back to this wonderful hobby of mine! Haven't read much since then!
Let's begin with an information overload!
Here are some of the great novels and work of fiction (whatever you choose to call it) of all times. I was digging up the most authentic list but looks like I do not have either the acumen nor the authority to find which one is THE MOST authentic. So, I settled with these four:
Time's List
Guardian's List
Modern Library's List
BBC's List
But then, I thought unless I resolve the issue that which one is most authentic, how do I know which one to follow? There is some ambiguity and inconsistency in these lists and I was really confused as to which one should I use for my reference. For example, Moden Library (Reader's List) has almost all of Ayn Rand's books in the list where as BBC doesn't even talk about her. The reverse is the case with Terry Pratchet! BBC has 15 of his novels in the top 200 lists where as Modern Library doesn't even mention it. Time and Guardian also doesn't think that Ayn Rand should be there....
So, which one do I use? I thought I will use my taste as a hint of which list suits me more. I am a die hard fan of Ayn Rand and only the Modern Library list has given full justice to her. Besides, I did a quick check if novels which I have read and feel that they should be a part of the lists are there or not? Novels like Catch 22, To Kill a Mocking Bird, The Great Gatsby, The Catcher in the Rye, 1984 etc etc. Modern Library List scores full marks on this and I have my answer now. Hence, I will rather go with the modern library list.
But, Modern Library has missed some of my favorite books like "Love in the time of Cholera" and "All Quiet on the Western Front". So, I guess I will make a list of my own very soon and follow that. But it will be mostly derived from the Modern Library.
Basically, on my 60th Birthday, I should have a look at the list and proudly say to my grandchildren that I have read them all! That's the long term goal. Short term goal is to get my hands on the three books which are on my shelf - "Lord of the Rings", "Guns, Germs and Steel" and "The Lexus and the Olive Tree"
My reading times will start again which was on halt for long - ever since I thought about taking GMAT in May 2005. Life never stopped after that and now since I am done with my MBA and back in the work force, I guess I should get back to this wonderful hobby of mine! Haven't read much since then!
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