By now, everybody have seen the scandal unravel. Everyone need not think right. So, Satyam may be had the right to think wrong. The Rs 7000 crores statement in the books and later telling it is non existent and fraudelent is incomprehendible. Being a Stock Broker myself for the past 20 years I have not seen a fraud in our Corporate History of this magnitude.
Being a participant in the Market it is difficult to digest the news. All of us have traded in this share for clients or for ourselves, it makes us hang our head in shame that our coutryman has done this, and put all stakeholders money and employees future at stake.
Rama Linga Raju is a coward who should be punished. Our Political Masters hob nob with these undesirable fellows and make money with them by looting the public.(This is an assumption.) This man is a Criminal of the top order who has swindled the money of the public and enjoyed himself for a long time. Greed of excess has given this attitude to these promoters. We should wait and see what course of events are going to take place in future. Till now the Government has taken the right step. Both Chandra Babu Naidu and Rajashekara Reddy are blaming each other for Satyam Fiasco stating that one favoured the other. The sad thing is both of them were close to him during good times. Now, the times are bad they drop him like a hot potato. Nothing happened to CRB Capital Fiasco were one Mr. Bhansali was Involved. I am not sure what happened to M.S.Shoes scandal. Usually in this Karma Bhoomi people get away soon without any punishment, so I am not surprised if Mr. Raju is scot free from tommorrow in some pretext or the other.
Character of the individual is important for an organisation or the Nation. On one side we see the Tatas and the Oberoi Staff help the guests giving their lives, and the Management having great respect with their employees and Stake holders. In fact the Hotels opened up and the staff are rearing to go and work there. One of the cooks of the Taj has told his daughter that The Taj will never burn. That is the true spirit of true entrepreneurship and loyalty. The investing community should be ever vigilant of the Balance Sheets and Accounts given by these companies and question them when required.
The people and the readers each and everyone of us should wake up and be alert of what is happening in the companies we invest. Share Holder activism is of paramount importance , when we invest money in a Company its like buying a business and we should take care of our Business well. The Management should be questioned in the AGm (Annual General Meeting.) and the wrong doings should be upheld. Of course it is the mindset first. Once we make up our mind no one can stop us. Yes these things take time to repair but, if we make a start things will roll.
Of course things now seem to be falling in the right direction like a new Board set up but, some officials are in the U.S. and Singapore in the pretext of meeting clients. Hope there is no ulterior motive in that. We have to wait and see how things unfold and I invite suggestions from readers regarding this subject.
Friday, January 9, 2009
Saturday, January 3, 2009
Crime and Terror
When I was a young boy My Father being in the Civil Services then, I had asked him do the people in the civil service take bribes he had told me you can count them in fingers. After ten years I asked him the same question he told me dont ask it. Crime was there but in a very primitive form with daggers and knives. With gang wars and such. But, now though our GDP has improved we are getting more criminalised. WHY? Is it the responsibility of us who elect such people ?
Terror has taken a big form. My city did not even think of it till last year were 8 blasts took place though less casualities reported. Bombay has always taken the brunt of it which was a peaceful place till 1993 were a serial explosion took place taking many lives. Even yesterday there was a blast in Assam taking 5 lives. Why have human lives become just a statistics. Gandhi after the incident of 10 policemen being killed during the Freedom struggle goes on a fast. One of the leaders mention it is just a incident. The Mahatma says tell it to the families of those killed. Only a Mother knows how difficult it is to get the beautiful creation on this earth, and it is taken out by the sons of other Mothers by terror acts.
It was an irony after the Mumbai incident the then Home Minister says in the Maharashtra Assembly these incidents do occur in different cities. Why have we become so insensitive? We hear rumours the reader should know its not a confirmed information but rumours that, Police pay bribes to get a particular Station incharge, so they can collect more bribes. If bribes are taken how we will fight crime. A Citizen cannot go and give a complaint easily AN ASSUMPTION of mine . I am sure I am not confident of giving a complaint against a Politician or a rich man if he commits a crime, to the Police. This shows the confidence levels in the Police force is low. So, if the police sees a suspect he may let him go scot free with a few rupees as bribe, the loss can be a few thousand crores of rupees in a city like Mumbai.
Why the civil services which includes the police the steel backbone of the society become weak. These forces are not vigilant they have become careless listening to the whims and fancies of political masters. Politicians instead of making policies in Assembly or Parliament interfere in the administrative matters of Police and other branches of services. So the good people are put into insignificant duties and the average ones with proper political links get good postings. Here you cannot be assured of security as the man incharge is busy making money and neglecting his duty. I think its time we the people think Enough is Enough. Start participating in the process of Democracy go vote for the good candidate. In fact, the right to recall a candidate should be there if he does not perform. Yes there are associations like Association For Democratic Reforms headed by DR Trilochan Sastry who are doing good work in Election reforms. Only if we set right the people we elect we cannot fight Terror.
Terror has taken a big form. My city did not even think of it till last year were 8 blasts took place though less casualities reported. Bombay has always taken the brunt of it which was a peaceful place till 1993 were a serial explosion took place taking many lives. Even yesterday there was a blast in Assam taking 5 lives. Why have human lives become just a statistics. Gandhi after the incident of 10 policemen being killed during the Freedom struggle goes on a fast. One of the leaders mention it is just a incident. The Mahatma says tell it to the families of those killed. Only a Mother knows how difficult it is to get the beautiful creation on this earth, and it is taken out by the sons of other Mothers by terror acts.
It was an irony after the Mumbai incident the then Home Minister says in the Maharashtra Assembly these incidents do occur in different cities. Why have we become so insensitive? We hear rumours the reader should know its not a confirmed information but rumours that, Police pay bribes to get a particular Station incharge, so they can collect more bribes. If bribes are taken how we will fight crime. A Citizen cannot go and give a complaint easily AN ASSUMPTION of mine . I am sure I am not confident of giving a complaint against a Politician or a rich man if he commits a crime, to the Police. This shows the confidence levels in the Police force is low. So, if the police sees a suspect he may let him go scot free with a few rupees as bribe, the loss can be a few thousand crores of rupees in a city like Mumbai.
Why the civil services which includes the police the steel backbone of the society become weak. These forces are not vigilant they have become careless listening to the whims and fancies of political masters. Politicians instead of making policies in Assembly or Parliament interfere in the administrative matters of Police and other branches of services. So the good people are put into insignificant duties and the average ones with proper political links get good postings. Here you cannot be assured of security as the man incharge is busy making money and neglecting his duty. I think its time we the people think Enough is Enough. Start participating in the process of Democracy go vote for the good candidate. In fact, the right to recall a candidate should be there if he does not perform. Yes there are associations like Association For Democratic Reforms headed by DR Trilochan Sastry who are doing good work in Election reforms. Only if we set right the people we elect we cannot fight Terror.
Friday, January 2, 2009
Lakes
We are very careless about our lakes. Bangalore had a lot of water bodies before but they are depleting at a fast pace. Recently in a Prajavani Report a Kannada daily a lake in Kengeri Satellite Town was closed on instructions from the Local MLA in the year 2004. The MLA s have become local Zamindars or Palegars terrorising people with a small band of people, and always having boys around them for protection. Poor guys they cannot walk around alone.
With these actions today Bangalore is facing a severe water shortage not allowing the earth to recharge water. Thereby causing damage to the eco system. It is unfortunate that all the lakes are converted into stadiums or bus stands. No imaginative planning is done to save the lakes. Why should the lakes be converted into sites if they are near the city why sites cannot be developed in some other place. With the metro coming and an excellent bus service we have people can move without disturbing the envirionment. Our leaders are full praise of Foreign countries but here, for their expenses to fund their travel they are prepared to convert their own backyard into a concrete jungle with slums and garbage heaps which they encourage so that the lake dies a slow death. They block the water flow by constructing buildings at these sites.
Long live corrupt politicians and let civilisation die without water this seems the motto of we the citizens of Bangalore. We have got a Government we deserve so we get such shabby treatement. I invite readers to read this and come out with suggestions to tackle this problem
With these actions today Bangalore is facing a severe water shortage not allowing the earth to recharge water. Thereby causing damage to the eco system. It is unfortunate that all the lakes are converted into stadiums or bus stands. No imaginative planning is done to save the lakes. Why should the lakes be converted into sites if they are near the city why sites cannot be developed in some other place. With the metro coming and an excellent bus service we have people can move without disturbing the envirionment. Our leaders are full praise of Foreign countries but here, for their expenses to fund their travel they are prepared to convert their own backyard into a concrete jungle with slums and garbage heaps which they encourage so that the lake dies a slow death. They block the water flow by constructing buildings at these sites.
Long live corrupt politicians and let civilisation die without water this seems the motto of we the citizens of Bangalore. We have got a Government we deserve so we get such shabby treatement. I invite readers to read this and come out with suggestions to tackle this problem
Thursday, January 1, 2009
Proposal to construct 100 storey building in Bangalore
In the Times of India (Kannada, Bangalore edition) dated 01 Jan 2009, it has been published that the Karnataka Government wants to construct a 100 storey building on Race course road or at the KSDL premises at Yeshwanthpur. The roads in Bangalore are already choked and so are all the Bangaloreans throats where ever they drive in Bangalore. With the construction of this 100 storey building, Bangalore is going to look more ugly and dangerous to live in a concrete jungle. The beautiful surroundings of Cubbon park on one side and the lung space of Race course is providing a relief to the citizens as of now. With this structure coming up in this place, there is bound to be water shortage, heavy traffic, congestion and an eye soar. Me being a stock broker with an experience of 20 years in the Financial Markets, understand the nuances of any project. With the construction of this 100 storied building, no person with computer connectivity today would like to occupy the building paying exhorbitant rent.
Instead of the obsession of choking the city ruthlessly without any heed to the feelings of the citizens who have lived here for a long time, which is cruelty and utter disregard to them, let the Government concentrate on rural development and decentralisation of industries to different areas of Karnataka.
I request all the readers to oppose this project which is financially unviable and environmentally unfriendly. Please give suggestions about opposing this project effectively.
Instead of the obsession of choking the city ruthlessly without any heed to the feelings of the citizens who have lived here for a long time, which is cruelty and utter disregard to them, let the Government concentrate on rural development and decentralisation of industries to different areas of Karnataka.
I request all the readers to oppose this project which is financially unviable and environmentally unfriendly. Please give suggestions about opposing this project effectively.
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