Monday, October 15, 2012

NEDFULNESS: SYMBOL CHANGE

Example of a responsible ministry
 
In January 2009, Turkey officially started using the Turkish Lira (TL) instead of Yeni Turkish Lira (YTL). And the cost of replacing YTL by TL stood at YTL 1.14 million. In addition, the country is also incurring a cost of YKr 11 to 12 for changing from YTL to TL for each bank note. Iran has also planned to change its currency, Rial. The value of Rial has gone down so much that it has become negligible. 500 Rials is worth mere 5 cents while 50,000 Rials is worth $5.30. Iran wants to change its currency to revalue its Rial.

Considering all these, it seems extremely important to estimate the cost involved with India’s symbolic plan of changing the symbol. Moreover, there seems no regulation that will make sure that the new symbol will not hurt someone’s cultural or religious sentiments which are for some odd reasons too volatile in the subcontinent. There are no any specific guidelines from the government on whether the old notes and coins will remain in circulation with the new ones.In this time of downturn, the decision on a new coin symbol is highly debatable. This may not only dilute the brand equity of rupee but will encompass needless expenditures at a time when government coffers are already drying up.


Source : IIPM Editorial, 2012.

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Saturday, October 13, 2012

NORTH KOREA: NEGOTIATIONS

N. Korea's rhetoric is a plea for a better deal, US needn't take it seriously

North Korea agreed in principle to end its nuclear weapons programme on September 15, 2005 and rejoin the international non-proliferation treaty in return for energy, economic aid and a US promise not to attack. But US went against its promises and N. Korea retaliated by conducting nuclear tests next year.

Recently, Pyongyang stepped up verbal attacks, saying that it's scrapping all military and political agreements with Seoul and considers itself on the brink of war with the South. “N. Korea makes such rhetoric whenever it perceives threat from the US or S. Korea or its domestic conditions become worse, particularly the economy. North hopes that it might get a better deal...,” says R. Subramaniyan, a doctoral fellow at the Academy of Korean Studies. The US needs to actually call their bluff, rather than paying heed. Even N. Korea knows that one misstep can lead to catastrophe in its own land.


Source : IIPM Editorial, 2012.

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Friday, October 12, 2012

Why Buffett loves Harley’s b@#es!

The latest cash infusion has guaranteed Harley Davidson short term working capital; but it surely would need even more for a joyous ride!

Imagine Warren Buffett riding away on a Harley-Davidson bike... Imagine... Yes, curse our imaginations, for all we care, but actually, the likes of Warren Buffett are taking quite a liking to the mean machine, once associated only with flashy leather jackets and beautiful ‘agents’! And it’s not like Buffett is getting any younger or is delving deep into ‘how to win hearts through brawny stunts’ (he’s 78 years already for Chrissake, and has lost most strands decorating his temple); all that he cares about is... business!

Buffett’s infusion of $300 million in the ailing Harley-Davidson on February 3, 2009, has given a boost to the liquidity of the company. The consideration was in lieu of ‘senior unsecured notes’ to Berkshire Hathaway. Even Davis Selected Advisers (Harley-Davidson’s biggest shareholder) bought a similar-class asset for a consideration of $300 million. However, the question to be asked is: will this aggregate of $600 million raised, guarantee that the bleeding bike manufacturer gets back on its wheels?

Of late, Harley-Davidson has been losing tremendous value on the bourses (see chart). Also, poor performance of its financing arm (HDFS) played havoc on it’s net earnings in Q4, 2008 (which deteriorated by a further 58%). The company then decided to cut 1,100 jobs and trim production considerably by 13%.


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

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Thursday, October 11, 2012

Vivek Paul is actually being considered for the role

It would not be surprising if Vivek Paul is actually being considered for the role, but his experience may not fit the bill. Right Mr. Tata?

He has been credited for Wipro’s growth from $150 million (when he joined in 1999) to a $1.4 billion company with 50,000 employees in 2005. A month after resigning, he become a partner at Texas Pacific Group (TPG) capital and put in his papers in December, 2008.

It is in the news that he will replace Ramadorai. In fact, his name was also being taken for the post of Satyam CEO before it went to A. S. Murthy. Compared to Ramadorai and Chandrasekharan, “Paul is more competent, but less likely to take the job actually,” avers Rob Enderle, Principal Analyst, Enderle Group. But perhaps the Tatas may go for a strong and experienced veteran who has been into the same business for a long time. That one clause may go against Paul.


Source : IIPM Editorial, 2012.

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Wednesday, October 10, 2012

Bestselling blockbusters

Reading the future of books and movies...

Salman Rushdie presented the world his magnum opus – Midnight’s Children – in 1981 and more than 25 years later, people are still bewitched by this tale. Not only did it bag the ‘Booker’ of Bookers last year, but now Deepa Mehta is planning to bring it to life on the silver screen. Filmmakers have often looked to books for inspiration, but Midnight’s Children is understandably no ordinary book. Deepa, along with Imran Khan as her lead star, and Salman Rushdie himself by her side, paying extraordinary attention to the making of the film, might just be able to succeed in recreating this intricate, magical story; though it’s no menial task. Yet complex scripts haven’t deterred filmmakers as yet! Innumerous books have been made into films, and as the trend keeps growing, one wonders if writing books, while keeping films in mind is their ticket to money and fame?

With over 1,000 films churned out of our country alone, it’s no surprise that books are often made into movies, and when it’s one like Sarat Chandra Chattopadhyay’s Devdas – just one film is so not enough to do the book justice! After Shahrukh Khan’s much-lauded performance as Devdas just 6-7 years ago, the new talented kid on the block, Abhay Deol, is now out to paint the character in a more modern but equally inebriated hues in Dev D. While Vidhu Vinod Chopra had masterfully recreated another of Sarat Chandra Chattopadhyay’s book – Parineeta – he is now betting his money on the story Five Point Someone by Chetan Bhagat. Titled 3 Idiots, the film has Aamir Khan in the lead role. Another of Bhagat’s book – One Night @ the Call Center – was made into the very forgettable film Hello. Vishal Bharadwaj brought Shakespeare’s stories to the common people in India through his films Maqbool and Omkara. And the film which has finally got our countrymen seriously into the race for the Oscars – Slumdog Millionaire – is also based on a book – Q & A by Vikas Swarup.

The story is quite the same in the west too. From romances like Gone with the Wind, Pride and Prejudice, My Fair Lady, to mafia dramas like Godfather to science fiction films like War of the Worlds, Journey to the Centre of the Earth, to fantasy films like The Lord of the Rings and Harry Potter – countless classic films have been made out of equally rivetting books.


Source : IIPM Editorial, 2012.

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