Friday, November 30, 2012

Do more harm than good. Read on!

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

If one follows a certain amount of discipline before the run, marathons can be what they’re supposed to be – harmless, and a lot of fun. All that is required is consistency in workouts before the marathon and increasing the stamina by following the 10% formula, i.e., to never increase your weekly mileage by more than 10% over the previous week. Jumping more miles than this would be a mistake that the body will pay for in the not-so-distant future. In fact, high intensity workouts every day does not allow the body to recover. Accommodating an easy workout in-between is definitely a far better plan.

While most people practice running in the parks, it is important to avoid uneven surface. On the other hand, slanting surface causes one foot to roll inward and the other outward, leading to a bad posture. If the surface is hard and concrete, and not made of grass and packed dirt, it can cause further injuries to the joints. So that makes looking out for the flattest and softest surfaces a worthwhile task.

Whoever came up with the phrase ‘run for your life’ obviously was oblivious to the perils that can come your way if you don’t do it right!


Source : IIPM Editorial, 2012.

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Thursday, November 29, 2012

Bouquets & corruption BRICbats

Transparency International’s corruption index kills Russia’s image

Corruption, bribery and nepotism are the three pillars on which some modern economies are being based. The well known Berlin based anti-corruption watchdog, Transparency International (TI), has come out with its annual Corruption Perception Index (CPI) to measure corruption on a scale of 0 [zero being the lowest rate of corruption] to 10. Expectably, poor countries like Somalia and Burma lie at the bottom of the table close to a perfect ten. Whereas small trouble-free and rich democracies of Western Europe like Denmark and Sweden lie at the top.

Another BRIC nation Brazil is placed somewhere in the middle of the table, at a mediocre – though relatively better – 62 [up from 70 last year]. Brazil could have scored magnificently better, but last year’s corruption charge –the ‘mensalao’ episode – where President Lula’s Worker Party is alleged to have bribed lawmakers in return for their support to the party in the lower house of the Parliament, played spoilsport!


Source : IIPM Editorial, 2012.

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Wednesday, November 28, 2012

Defeat Corruption

What’s the dirtiest secret about corruption? Just how little we know about it. Treasuries are plundered and kickbacks are paid, but the nature and scale of the world’s shady transactions largely remain a mystery to us. Luckily, a little economic detective work is all that is needed to expose the smuggling, cheating and bribing that is hiding in plain sight.

It was the odd uniformity of the suitcase’s contents that tipped off the baggage inspector: six thick, identical rectangles. They could have been books, but then again, they could have been six bundles of cocaine. And in August 2007, security was tight at Buenos Aires airport; the country was in the midst of a presidential election. The suitcase’s owner, a Venezuelan businessman just in from Caracas, hesitated briefly when asked to open his suspicious luggage. Out tumbled $800,000 in cash. It was, according to US investigators, an illegal campaign contribution from Venezuelan President Hugo Chávez intended for Cristina Fernández de Kirchner, wife of Argentina’s former president & candidate for presidency herself. What better to grease the countries’ friendship, investigators alleged, than a suitcase full of cash?

Such tales of bribery and corruption are as old as politics. Try as we might to rid officialdom of crooks, extorting senators, vote-buying presidents and judges for sale remain all too common. Whether it’s the $90,000 in cold cash that turned up a few years ago in a US congressman’s freezer, the “Versailles in the jungle” built with the billions embezzled by Zaire’s Mobutu Sese Seko, or the bank balances of oil autocrats in Central Asia, venality and excess remain the scourge of modern global politics.

But corruption is not simply a moral concern. It’s blamed – perhaps rightly – for many of the world’s ills; widely accused of being an endemic barrier to economic development, responsible for Africa’s lasting poverty and Latin America’s perennial stagnation. It is, says conventional wisdom, what makes poor countries poor. It undermines the rule of law, distorts trade, and confers economic advantages on a privileged few. It prevents aid money from reaching victims, topples buildings thanks to shoddy construction, and strangles business with constant burden of bribes and payoffs. Yet the truth is that we have very little idea about how corruption works or how pervasive it is. We have anecdotes about rotten individuals – a Ferdinand Marcos, a Robert Mugabe, or Charles Taylor – but this tells us almost nothing about the breadth and depth of global corruption. After all, when bribery and embezzlement is done right, it’s invisible. Economists haven’t even resolved if and when corruption is really a problem: East Asian economies have boomed in recent decades under reputedly corrupt regimes.


Source : IIPM Editorial, 2012.

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PROFILE: B.S. YEDDYURAPPA

Karnataka Chief Minister needs to quell Bajrangi hate mongers and ensure safety to minorities

After being criticised by every corner, the state government had to arrest Bajarang Dal Chief, Mahendra Kumar. The Centre has issued a notice to the Karnataka government to control the law and order. The Central team and the National Commission for Minorities (NCM) have both, in their respective reports, rapped the government of Karnataka for failing to protect the attacks against the Christian community. This forced Yeddyurappa to order a judicial probe, a opposition demand that he had earlier refused.

Governing Karnataka has turned out to be a litmus test for Yeddyurappa. In a political career spanning over decades, Yeddyurappa has been at the helm of many political posts. As a grass-root politician he has headed a town municipality, has repeatedly been to the two houses of state legislature and has been the leader of opposition in Karnataka.

This his first stint in power. He needs to put his experiences to use. Long innings within the RSS and Jan Sangh may have streamlined his philosophy and focussed his approach when it came to contesting elections. However, he now needs to realise that a CM''s job is not to appease his coterie even if they collectively stimulate horrendous wrongs. Karnataka has led India to its IT fame. The recent attacks are a blot on the state''s face. Yeddyurappa needs to realise that his progressive electorate may not forgive him for the recent attacks even if they practice the same religion as his.


Source : IIPM Editorial, 2012.

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Monday, November 26, 2012

JAPAN: PM RESIGNATION

Japan urgently needs a worthy successor after Fukuda's resignation

The upper and lower houses of Diet (Japanese parliament) have been paralysed for around a year and the country is expected to see some stability only if Aso becomes Fukuda’s successor. Aso commands a popular support within Liberal Democratic Party (LDP) and is known for his straight talking. If he comes to power, things may change for better for LDP.

Having a strong person is the need of the hour not only for LDP but also for Japan. Indecisiveness in politics is something that Japan can’t bear anymore. The economy is feared to be galloping towards recession. The whole messed up issue of selection of governor for the Bank of Japan has dented the image of Japan. Other areas also need proper consideration. Japan's foreign policy needs people who can continue with the vocal presence that Koizumi had shown and people need reforms on the pension, health insurance and gas tax front. LDP has failed to deliver on every front and people's disappointment is evident now. This is bad for the party since the opposition, Democratic Party (DPJ) would now want to carry out elections as soon as possible. Things would be tough for whoever comes to power after Fukuda. He has to resolve all the conflict within LDP and also keep Japan outside the grip of recession.


Source : IIPM Editorial, 2012.

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Sunday, November 25, 2012

Can reduce the usage of personal vehicles?

Only an efficient public transport system can reduce the usage of personal vehicles

“Indian cities are in the grip of motorisation which is why smooth mobility on roads is increasingly becoming a distant dream,” Anumita Roy Chaudhary, expert on transport in Centre for Science and Environment (CSE) shares with B&E. If one considers Europe, (known to have one of the best public transit system in the world), the whole economy depends heavily on efficient road transport, where 85% of the people travel by buses or coaches; which leads to less motorisation of roads.

Though there are big plans like setting up of 16 new flyovers and monorail in Mumbai, other Indian cities still don’t have such roadmaps. Indian policies, too, are not very supportive to public transportation. In other words, they encourage purchase of private cars. In India, one pays road tax only once during the purchase of car which is much less than the annual road tax paid by a public bus owner. Contrary to this, in Singapore, one has to bid for getting a licence even before buying a car.

‘More’ is increasingly becoming ‘less’ in India. However, not many want such a thing to happen. With fuel prices going up and inflation surpassing two digit figures every now and then, it is getting tough for Indian consumers to buy a car and maintain it. So, it’s only investment in public transit system that can substantially reduce this burden.


Source : IIPM Editorial, 2012.

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Saturday, November 24, 2012

INBEV: BUSCH ACQUISITION

20% premium makes a great sell...

For AB’s shareholders, there could be no better news. With the combined entity expected to earn $36.4 billion in revenues and control more than 50% of the US beer market, expected cost synergies of around $1.5 billion by 2011 too don’t look too faint a mirage.

Juli Niemann, CFA, Smith, Moore & Co., also explains, “Synergies are there as the duo would create an excellent end-on-end brewing, distributing & marketing powerhouse worldwide.” However, InBev should not do away with the theme parks that AB owns (which clocked revenues of $1.3 billion, 7% of AB’s total revenue in 2007) in the name of cost-cutting. Having become a global power now, the combined entity should also not get complacent on the marketing front as Ann Gilpin Analyst, Morningstar asserts, “If InBev cuts on advertising or marketing it will pay the consequences...” Amongst this hullabaloo, there is SAB Miller which has now been dethroned from the numero uno spot in the beer-making business; and it won’t be long before we hear of a SAB Miller bid for... errr.... watch out for this space!


Source : IIPM Editorial, 2012.

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Thursday, November 22, 2012

Of food crisis & your appendix!

Food production across the world is higher than in the past two years; but export bans worsen the crisis

The G-8 nations, during their recent meeting in Toyakocho, Hokkaido, Japan, have urged nations like Argentina, Egypt, India, Indonesia and Russia to stop restricting food exports. “We will strive to ensure that food, agricultural trade and overall trade policies are conducive to ensuring food security for all. For this purpose, we reaffirm the need to minimise the use of restrictive measures that could increase the volatility of international prices,” an FAO declaration said. This meeting in Japan couldn’t have been more killingly ironical. International economists and global leaders forget (conveniently) that Japan itself has hoarded around 1.25 million tonnes of surplus imported rice, which it is not bringing into the market.

But it is not that Japan alone is to blame (though it takes a considerably large amount of blame). The world has got so engrossed in trying to save itself from artificially raised oil prices that it has closed its eyes to the anguish of hundreds of millions of starving people. In many ways, if the issue of bio-fuel, however hyped or over-hyped, is responsible for the food crisis, then the hoarding of food grains is no less a contributor to the world food crisis. While some countries like Japan are sitting on huge piles of food – using it to make either artificial fuel or simply to hoard the same – the others are facing calamitous situations because they simply have nothing left to eat.


Source : IIPM Editorial, 2012.

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Fitness foreplay

Looking to bust that stress or simply want to try out something refreshing, sign up for a Pilates routine, or take refuge in a spa and rejuvenate yourself with the experience

Pilates anyone?

Founded by one Joseph H. Pilates, Pilates (Pi-lah-teez) is catching up in India. It revolves around a series of controlled movements on a mat (or a machine) focusing on the torso, toning the body by building up flexibility, strength, endurance, and coordination without adding bulk to the muscles. Pilates helps improving posture, makes one less prone to injury and results in overall good health.

Pilates is the ‘In-thing’ and classes are springing up everywhere. Growing popularity and the big names attached with it, just makes this pleasurable exercise routine even more interesting. Says model and actress Gul Panag, “Choc-a-block shooting schedules and erratic working hours stress me, so it’s important to take time off to rejuvenate my body. I follow Pilates thrice a week on the desired areas which give me visible results.”

There are many fitness centres and YMCA’s which offer Pilates classes but most are focused on mat exercises. Unlike Yoga, Pilates is movement based and requires deep abdominal engagement to support the spine and create core-centred movement. Pilates is very good for pregnant ladies too as it improves blood circulation, balance and strength. “Pilates is for everyone. I am a complete workaholic and the stress grows on me. To help bust the stress caused at work and allow fresh creative energies pumping back into my system, I indulge in Pilates,” says fashion designer Urvashi Kaur. Instruction DVDs on Pilates can be recommended for beginners but for advanced training nothing beats the supervision of an advanced trainer. A relatively new concept in India, Pilates is here to stay.


Source : IIPM Editorial, 2012.

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Tuesday, November 20, 2012

All the Queen's men...

More and more political leaders from UP are joining Mayawati

Bahujan Samaj Party (BSP) boss Mayawati, after inflicting damages on the Congress with her tactics of Dalit mobilisation, has now cast her malevolent eye on the Bhartiya Janata Party (BJP). After wooing away substantial chunks of the "saffronised" Brahman vote, Mayawati plans to hit BJP where it hurts the most – the trader or vaishya vote. In keeping with that design, Mayawati has recently brought into its fold two big Bania leaders of the state, Naresh Agrawal and Akhilesh Das. Both of them have assurances of getting party nominations when the time for election comes and it is no surprise that given the Dalit leaders’ rising graph, politicians of all hues are thronging the Chief Minister’s residence in Lucknow to get themselves allotted BSP’s coveted Elephant poll symbol.

According to BSP tacticians close to Mayawati, the leader’s aim is to grab as many seats as she can in UP – the more the better. If the BSP manages to get 50 odd seats in the Lok Sabha from Uttar Pradesh, she would be a strong contender for India’s Prime Ministership after the next general Elections.


Source : IIPM Editorial, 2012.

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Apparatchik par excellence

 Surjeet will be remembered for countering BJP at the height of its saffron surge

On March 23, 1932, the Governor of Punjab was scheduled to visit Hoshiarpur in Punjab. It was also the first anniversary of the martyrdom of Bhagat Singh. The District Congress Committee had decided to replace the Union Jack with the Tricolour at the district courts on the same day. In anticipation, the district administration announced that protestors would be shot. Under duress, the Hoshiarpur Congress Committee backtracked. A boy celebrating his 16th birthday that day had other ideas. He picked up a tricolour mounted on a small stick, dismissed the Congress office secretary’s warning and reached the district court, where a complacent security personnel had become careless. With a single-mindedness - that was to later become his hall mark - a young Harkishan Singh Surjeet climbed the court stairs, brought down the Union Jack and hoisted the tricolour. Though two shots were aimed & fired at him, both missed their mark.

After 60 highly eventful political years, the boy matured into becoming General Secretary of the CPM in 1992, and held that post for the next 13 years, a period marked by the emergence of coalition politics. From then to now, the inveterate agitator for working class rights has struggled: from the unions to a current battle for life at the Metro Hospital in Noida.


Source : IIPM Editorial, 2012.

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Sunday, November 18, 2012

LEE KUN-HEE: FINANCIAL FRAUD

Lee’s exit looks positive, hopefully the law will take its course

Interestingly, within nine days of the news of Lee’s resignation, the Samsung stock had already risen 5.34% higher (as on April 29, 2008). While quoting exclusively to B&E, Joongi Kim, Associate Dean, Office of International Affairs, South Korea, stated, “This reflects the perception that the fundamentals of the company remain sound and that changes do not affect the company itself.” But critically, rather than that, the stock increase could also be due to Samsung reporting a net profit of 2.19 trillion won ($2.2 billion) on April 25, 2008, a whopping rise of 37% from the previous year.

And now comes the bigger question: Can Samsung survive this sudden churn at the top, especially when there are no succession plans in place? More horrifyingly, the long term impact could be far greater for the whole of Korea, considering that the Samsung group firms account for a spectacular 20% of South Korea’s GDP. The group, which has over 250,000 employees, and annual revenues of $160 billion, comparable to even Singapore’s GDP! Noted author Richard L. Ptak, Managing Partner, Ptak, Noel & Associates; believes, “Executives at Samsung had enough advanced notice of these problems and time as well to put a transition plan in place to minimise immediate problems.” His colleague, Simon Forge adds, “The market may be hoping that Lee’s departure will mark the start of the end of cross-holdings between the various parts of Samsung, especially the main jewel, Samsung Electronics, so the business might be better run and shares will be owned by a wider range of shareholders.” Clearly, the exit seems positive; but with the background of so-called presidential pardons ever present, one wonders how transparently and speedily will the South Korean judiciary and government handle proceedings in this high profile case! 


Source : IIPM Editorial, 2012.

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Wednesday, November 14, 2012

PROFILE: L.K.ADVANI

The BJP supremo distances himself from Kandahar fiasco but questions remain unanswered

As expected, the cat has been set among the pigeons. His former colleague in the then NDA government, Defence minister, George Fernandes, has more or less refuted the BJP chief’s version by saying the decision to send Jaswant was not unilateral and that a clutch of top ministers, including Advani, knew of the decision to put Jaswant on the plane.

The answer, as ever, is likely to be shrouded in history and rhetoric. But it raises several questions. Did the law of Cabinet accountability apply in the case of Kandhar? If it did, it was very bad. If it did not, the crime is compounded. It remains to be seen how the Congress, which is keen to offset the advantage that the BJP is trying to rake up on the Afzal Guru issue, capitalises on the subject.

The BJP has attacked the Congress on soft pedalling the Afzal issue and are demanding death punishment for him. The Congres in an attempt to deflect the attack has called into question the NDA government''s conduct during the Hijack drama. Jaswant Singh by escorting released terrorists had done a job best left to Intelligence and security agencies and not the nation''s Foreign Minister.The BJP had been deeply embarassed over its handling of the Kandahar crisis.

For Advani, who joined the RSS in 1942, it has been a steady but meteroic rise in the Sangh Parivar. He was the Jan Sangh''s Karachi’s branch secretary. Advani was sent to Rajasthan as the Sangh''s organiser in Mewat in 1947. He was actively involved in the Bharatiya Jana Sangh and rose in the ranks of the Delhi branch of that party and was elected on the ticket of that party from 1970 to 1975. Advani was detained under the MISA in Bangalore prison during the Emergency years.


Source : IIPM Editorial, 2012.

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Friday, November 9, 2012

The stork’s at our beck and call!

While every woman dreams of becoming a mother, getting pregnant requires reflection…

It is a generation where numerous give more importance to their careers than to social interactions and many spend more time with their computers than their respective better halves. Confident that technology, like always, will save the day and allow one to procreate whenever one wills, people are allowing their biological clocks to tick away. Buoyed by successful cases like that of Jennifer Lopez, 38, who recently gave birth to twins, and our queen of masala movies Farah Khan, 43, whose triplets are at the moment harvesting gifts from the film community, late pregnancies are becoming the norm, rather than an exception.

Says Dr. Swati, Gynecologist and IVF-fertility specialist, “While 20-40 is an absolutely safe age group to give birth to a child, 40-50 needs to be closely monitored at all points of time and beyond 50 is not recommended.” The pregnancy of the 42-year-old film director Farah Khan had made many skeptical but her delivery of three healthy babies has intrigued all those who wish to postpone parenthood and finish their education or invest in their career; or for that matter because of the belated arrival of their soul mate.

“After 35, the chances of natural conception are really low due to the decline in the number of naturally produced eggs in a woman’s body. It is then that artificial techniques such as IVF are used to produce more number of eggs in the ovary,” clarifies Dr. Swati.

IVF (In Vitro Fertilisation) is an assisted reproductive technique in which egg cells are fertilised by sperm outside the woman’s womb. The ovulatory process is hormonally controlled by helping a woman produce more ova (eggs) and then removing them from her ovaries and allowing sperm to fertilise them in a fluid medium. The IVF specialist further elaborates, “The best quality embryo (tested in the lab) is then placed in the woman’s uterus and it is the age and health of the woman that decides whether the embryo will survive or not.” Keeping the age factor in mind, “more than one embryo (two to three)” is placed in a woman’s body so that “at least one” of them survives.


Source : IIPM Editorial, 2012.

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Thursday, November 8, 2012

TATA CHEMICALS: ACQUISITION

GCIP acquisition gives sustainability but also substantially increases the risk profile for TCL

Moreover, TCL will undoubtedly face integration challenges with the unlisted US firm. Complicating matters further is the size and operating profile of GCIP (Moody). The transaction and the resulting financial & operating profile is still not amply clear. “Exchange rate is another challenge that stands in front of TCL”, Nagraj adds.

Well, the plan looks picturesque perfect. However, the road for TCL as well as the Tata group isn’t an expressway. Tata Group of late has raised lot of debts in financing its elephantine acquisitions and servicing, which might be a problem. There’s a maddening race at Tata Group companies to leverage in-organic growth. Tata Steel acquired Corus for $13.7 billion and another group company Tata Motors is also in talks with Ford to acquire Jaguar & Land Rover for $2 billion apart from many multi–million dollar acquisitions done by TCS, Tata Tea & other group companies in the recent past. And as most of these acquisitions have significantly increased its exposure to the American & European economies, sluggishness in there two markets could place Tata’s plans in jeopardy for quite some time to come.


Source : IIPM Editorial, 2012.

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MNCS: INDUSTRIAL ACCIDENTS

MNCs are hailed as national treasures but their devil-may-care attitude results in tragedies, making them global shame

What can be more traumatic and horrifying industrial accident than the phosgene, the lethal gas leak at Thailand petrochemical company Thai Polycarbonate Co. which has killed one and injured over hundreds. Shockingly, inspite of innumerable calls from many environmental activists of the locality to stop gas leakage which many had already identified, the accident could have been prevented; the company was reluctant to improve its pipelines.

And the fiery explosion with unstoppable fire and smoke at one of the largest oil refineries of British Petroleum in Texas City in 2005 is another example of shameless irresponsibility of global MNCs. Well, it was not the first such accident; BP has a record of fatal accidents, for last few decades. Moreover, it is the eighth largest polluter in the US, releasing over 5.1 million tonnes of pollutants with many harmful toxic gases like carcinogens causing serious health ill-effects to 30,000 people living within three mile radius. But while FBI investigation and imposition of new laws and fines continues, BP’s capability gradually sharpens to refuse or strive to escape from it. Nigeria witnessed the perfect misery out of corporate social irresponsibility. Companies like Shell, Exxonmobil & Chevron are reaping off nation’s oil industry but continue showing through negligence in improving environment, human life and the locality which have been affected by gas leakage and flares in their plants or refineries.

For MNCs, the planet has been served to be their playing-field but they have to follow rules of the game. Their profits cannot plunder people. How long will international community put up with their myopic vision and operations? The deemed-be-national-treasures actually prove to be global shame in neglecting their duties.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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