A. M. Naik is the Chairman and Managing Director of Larsen & Toubro, one of the most popular Indian companies. He was awarded the Padma Bhushan,India's 3rd highest civilian award,on January 26, 2009. Mr. Naik was also the recipient of the prestigious 'Economic Times Awards-Business Leader of the Year' award, for the year 2008. Anil M. Naik joined L&T in 1965 as a junior engineer and shortly became the youngest manager in Larsen & Toubro's history. Mr. Naik hails from Ambabari Now in Daman in Maharashtra where he studied. He did his engineering from Birla Vishwakarma Mahavidhyalaya Engineering college, VV Nagar, Anand one of the reputed institutes of India. His father was a teacher. After joining L&T as Junior Engineer in 1965, he rose rapidly through its ranks; he became General Manager in 1985, and Vice President (Operations) and Member of the Board in 1989 (in charge of the erstwhile Group II, now bifurcated into E&C and Heavy Engineering). In 1995, he was appointed President (Operations) and in April 1999, he took over as Chief Executive Officer and Managing Director. On December 30, 2003, he was appointed as the Chairman & Managing Director. Naik is also extensively involved in social work and is currently developing the educational institution set up by his father in a region called Kharel, Gujarat.proud to be anaval Mr.Naik has been announced as an awardee of the Padma Bhushan in India on 26 Jan 2009.
Honours the positions
Honorary Consul General for Denmark.
Senior member of the Confederation of Indian Industry.
Member of the Board of Trade, Ministry of Commerce, Government of India.
Fellow of the Indian National Academy of Engineers.
Member of the Board of Governors of the Indian Institute of Management, Ahmedabad.
Recipient of Gujarat Garima Award 2009. Awarded on 22 January, 2009
by
Anand Kumar Pandey
pgdm sec-a
3rd sem
Monday, November 30, 2009
biography of Glenn Saldanha
Glenn Saldanha is the Managing Director & CEO of Glenmark Pharmaceuticals Limited. He holds a Bachelor?s degree in Pharmacy and an MBA from Leonard Stern School of Business, NYU. Glenn joined Glenmark Pharmaceuticals in 1998 as Director and took over as Managing Director & CEO in 2001.
Glenn joined Eli Lily's global marketing team soon after graduating from NYU. His last assignment was with Price Waterhouse Coopers USA. As consultant at PWC, he had opportunity to work with top pharmaceutical companies, like Rhone Poulenc Rhorer, Bristol Myers Squibb, Astra, Merck and Smith Kline Beecham.
Glenn has been instrumental in growing Glenmark from being an India formulations business in 1999 to a global firm with interests spanning discovery research, India and international formulations, and API. The company has grown at a compounded annual rate in excess of 34% over the past 5 years and is now among the few Indian firms with a successful drug discovery program.
by
khushboo
pgdm sec-a
3rd sem
Glenn joined Eli Lily's global marketing team soon after graduating from NYU. His last assignment was with Price Waterhouse Coopers USA. As consultant at PWC, he had opportunity to work with top pharmaceutical companies, like Rhone Poulenc Rhorer, Bristol Myers Squibb, Astra, Merck and Smith Kline Beecham.
Glenn has been instrumental in growing Glenmark from being an India formulations business in 1999 to a global firm with interests spanning discovery research, India and international formulations, and API. The company has grown at a compounded annual rate in excess of 34% over the past 5 years and is now among the few Indian firms with a successful drug discovery program.
by
khushboo
pgdm sec-a
3rd sem
UPDATE 1-Lopez clan may sell 6.7 pct stake in Manila Electric
* Lopez clan hopes to sell 6.7 pct Meralco stake next mth
MANILA, Oct 26 (Reuters) - The Lopez business clan may sell half its remaining stake in Manila Electric Co (MER.PS) to the PLDT group (TEL.PS), the Philippine family's patriarch said on Monday, bolstering PLDT's hold on the power retailer.
The Lopez family, which has been running the power retailer for decades, holds a 13.4 percent stake worth nearly $390 million in Manila Electric or Meralco. [ID:nSP460125]
Two of the Philippines' biggest companies -- the PLDT group and San Miguel Corp (SMC.PS) (SMCB.PS) -- are currently battling for control of Meralco and the sale of the Lopez family interest is key to resolving the impasse.
"We hope next month," Oscar Lopez, chairman of the family's power holding firm First Philippine Holdings Corp (FPH.PS), told reporters when asked when the sale of half its stake would be.
Lopez added the family would hold on to a 6.7 percent interest in Meralco to wait for better prices and possibly sell out in two to three years.
Manila Electric owns the country's largest power franchise and has become attractive target after regulators allowed it to raise power tariffs by up to 27 percent, its first hike since 2003. Meralco itself has forecast a near fourfold surge in its 2009 net income. [ID:nMAN445031]
On Friday, Manuel Pangilinan, chairman of the Philippine Long Distance Telephone (PLDT), told reporters the country's largest phone firm was in discussion with Lopez to buy the family's Meralco stake, adding the talks may be concluded in a few weeks. [ID:nSP460125]
The Lopez family currently votes along with the PLDT group, giving the Pangilinan bloc control of 48 percent of the utility. PLDT, owned by Hong Kong's First Pacific Holdings (0142.HK), Japan's NTT Communications and NTT DoCoMo (9437.T), also has right of first refusal on the Lopez family stake.
If it successfully buys a 6.7 percent stake from the Lopez clan, the PLDT group's direct stake in Meralco would reach more than 41 percent. The group's interest is currently held by subsidiary Pilipino Telephone Corp (PLTL.PS) and sister firm Metro Pacific Investments Corp (MPI.PS).
San Miguel has said it controls about 43 percent of Manila Electric through its own holdings and those of business allies, while about 9 percent is held by the public.
Meralco closed unchanged on Monday at 203 pesos ($4.3) but its shares have risen 19.4 percent so far this month on talks about the possible sale of the Lopez family stake. (Reporting by Rosemarie Francisco; Editing by Lincoln Feast)
shalini,pgdm(3rd sem)
MANILA, Oct 26 (Reuters) - The Lopez business clan may sell half its remaining stake in Manila Electric Co (MER.PS) to the PLDT group (TEL.PS), the Philippine family's patriarch said on Monday, bolstering PLDT's hold on the power retailer.
The Lopez family, which has been running the power retailer for decades, holds a 13.4 percent stake worth nearly $390 million in Manila Electric or Meralco. [ID:nSP460125]
Two of the Philippines' biggest companies -- the PLDT group and San Miguel Corp (SMC.PS) (SMCB.PS) -- are currently battling for control of Meralco and the sale of the Lopez family interest is key to resolving the impasse.
"We hope next month," Oscar Lopez, chairman of the family's power holding firm First Philippine Holdings Corp (FPH.PS), told reporters when asked when the sale of half its stake would be.
Lopez added the family would hold on to a 6.7 percent interest in Meralco to wait for better prices and possibly sell out in two to three years.
Manila Electric owns the country's largest power franchise and has become attractive target after regulators allowed it to raise power tariffs by up to 27 percent, its first hike since 2003. Meralco itself has forecast a near fourfold surge in its 2009 net income. [ID:nMAN445031]
On Friday, Manuel Pangilinan, chairman of the Philippine Long Distance Telephone (PLDT), told reporters the country's largest phone firm was in discussion with Lopez to buy the family's Meralco stake, adding the talks may be concluded in a few weeks. [ID:nSP460125]
The Lopez family currently votes along with the PLDT group, giving the Pangilinan bloc control of 48 percent of the utility. PLDT, owned by Hong Kong's First Pacific Holdings (0142.HK), Japan's NTT Communications and NTT DoCoMo (9437.T), also has right of first refusal on the Lopez family stake.
If it successfully buys a 6.7 percent stake from the Lopez clan, the PLDT group's direct stake in Meralco would reach more than 41 percent. The group's interest is currently held by subsidiary Pilipino Telephone Corp (PLTL.PS) and sister firm Metro Pacific Investments Corp (MPI.PS).
San Miguel has said it controls about 43 percent of Manila Electric through its own holdings and those of business allies, while about 9 percent is held by the public.
Meralco closed unchanged on Monday at 203 pesos ($4.3) but its shares have risen 19.4 percent so far this month on talks about the possible sale of the Lopez family stake. (Reporting by Rosemarie Francisco; Editing by Lincoln Feast)
shalini,pgdm(3rd sem)
Software visionary regains title as the richest man
Software visionary regains title as the richest man despite losing $18 billion in the past 12 months. Stepped down from day-to-day duties at Microsoft last summer to devote his talents and riches to the Bill & Melinda Gates Foundation. Organization’s assets were $30 billion in January; annual letter lauds endowment manager Michael Larson for limiting last year’s losses to 20%. Gates decided to increase donations in 2009 to $3.8 billion, up 15% from 2008. Dedicated to fighting hunger in developing countries, improving education in America’s high schools and developing vaccines against malaria, tuberculosis and AIDS. Appointed Microsoft Office veteran Jeffrey Raikes chief exec of Gates Foundation in September. Gates remains Microsoft chairman. Sells shares each quarter, redeploys proceeds via investment vehicle Cascade; more than half of fortune invested outside Microsoft. Stock down 45% in past 12 months. "Creative capitalist" wants companies to match profit making with doing good.
Warren Buffett
Rank: 2 Net Worth: $37.0 bil, Fortune: self made
Last year America’s most beloved investor was the world’s richest man . This year he has to settle for second place after losing $25 billion in 12 months. Shares of Berkshire Hathaway down 45% since last March. Injected billions of dollars into Goldman Sachs, GE in exchange for preferred stock last fall; propped up insurance firm Swiss Re in February with $2.6 billion infusion. Admits he made some "dumb" investment mistakes in 2008. Upbeat about America’s future: "Our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so." Scoffs at Wall Street’s over-reliance on "history-based" models: "If merely looking up past financial data would tell you what the future holds, the Forbes 400 would consist of librarians." Son of Nebraska politician delivered newspapers as a boy. Filed first tax return at age 13, claiming $35 deduction for bicycle. Studied under value investing guru Benjamin Graham at Columbia. Took over textile firm Berkshire Hathaway 1965. Today holding company invested in insurance (Geico, General Re), jewelry (Borsheim’s), utilities (MidAmerican Energy), food (Dairy Queen, See’s Candies). Also has noncontrolling stakes in Anheuser-Busch, Coca-Cola, Wells Fargo.
Carlos Slim Helu & family
Rank: 3 Net Worth: $35.0 bil, Fortune: self made
Economic downturn and plunging peso shaved $25 billion from the fortune of Latin America’s richest man. Global recession testing his ability to live up to the principles he sets for his employees: "Maintain austerity in times of fat cows." Son of a Lebanese immigrant bought fixed line operator Telefonos de Mexico (Telmex) in 1990; now controls 90% of Mexico’s telephone landlines. Would be a billionaire based on his dividends alone. Biggest holding: $16 billion stake in America Movil, Latin America’s largest mobile phone company with 173 million customers. America Movil and Telmex reportedly planning to jointly invest $4 billion to bolster telecom infrastructure in Latin America. Buying up cheap media, energy and retail assets. Last year took stakes in New York Times Co., former billionaire Anthony O’Reilly’s Independent News & Media and Bronco Drilling; also increased position in Saks. Baseball statistics aficionado, art collector
Lawrence Ellison
Rank: 4 Net Worth: $22.5 bil, Fortune: self made
Database titan continues to engulf the competition; Oracle has racked up 49 acquisitions in the past 4 years. Bought BEA Systems for $8.5 billion last year. Still sitting on $7 billion in cash. Revenues up 11% to $10.9 billion in the six months ended November 30; profits also up 11% to $2.4 billion. Stock down 25% in past 12 months. Invested $125 million in Web software outfit Netsuite; took public in 2007, stock has fallen 80% since. His shares still worth $300 million. Chicago native studied physics at U. of Chicago, didn’t graduate. Started Oracle in 1977. Public 1986, a day before Microsoft. Owns 453-foot Rising Sun; built a smaller leisure boat because superyacht is hard to park. Squabbling in court with Swiss boating billionaire Ernesto Bertarelli over terms of next America’s Cup. Recently unveiled hulking 90-foot trimaran he intends to use to win it.
Warren Buffett
Rank: 2 Net Worth: $37.0 bil, Fortune: self made
Last year America’s most beloved investor was the world’s richest man . This year he has to settle for second place after losing $25 billion in 12 months. Shares of Berkshire Hathaway down 45% since last March. Injected billions of dollars into Goldman Sachs, GE in exchange for preferred stock last fall; propped up insurance firm Swiss Re in February with $2.6 billion infusion. Admits he made some "dumb" investment mistakes in 2008. Upbeat about America’s future: "Our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so." Scoffs at Wall Street’s over-reliance on "history-based" models: "If merely looking up past financial data would tell you what the future holds, the Forbes 400 would consist of librarians." Son of Nebraska politician delivered newspapers as a boy. Filed first tax return at age 13, claiming $35 deduction for bicycle. Studied under value investing guru Benjamin Graham at Columbia. Took over textile firm Berkshire Hathaway 1965. Today holding company invested in insurance (Geico, General Re), jewelry (Borsheim’s), utilities (MidAmerican Energy), food (Dairy Queen, See’s Candies). Also has noncontrolling stakes in Anheuser-Busch, Coca-Cola, Wells Fargo.
Carlos Slim Helu & family
Rank: 3 Net Worth: $35.0 bil, Fortune: self made
Economic downturn and plunging peso shaved $25 billion from the fortune of Latin America’s richest man. Global recession testing his ability to live up to the principles he sets for his employees: "Maintain austerity in times of fat cows." Son of a Lebanese immigrant bought fixed line operator Telefonos de Mexico (Telmex) in 1990; now controls 90% of Mexico’s telephone landlines. Would be a billionaire based on his dividends alone. Biggest holding: $16 billion stake in America Movil, Latin America’s largest mobile phone company with 173 million customers. America Movil and Telmex reportedly planning to jointly invest $4 billion to bolster telecom infrastructure in Latin America. Buying up cheap media, energy and retail assets. Last year took stakes in New York Times Co., former billionaire Anthony O’Reilly’s Independent News & Media and Bronco Drilling; also increased position in Saks. Baseball statistics aficionado, art collector
Lawrence Ellison
Rank: 4 Net Worth: $22.5 bil, Fortune: self made
Database titan continues to engulf the competition; Oracle has racked up 49 acquisitions in the past 4 years. Bought BEA Systems for $8.5 billion last year. Still sitting on $7 billion in cash. Revenues up 11% to $10.9 billion in the six months ended November 30; profits also up 11% to $2.4 billion. Stock down 25% in past 12 months. Invested $125 million in Web software outfit Netsuite; took public in 2007, stock has fallen 80% since. His shares still worth $300 million. Chicago native studied physics at U. of Chicago, didn’t graduate. Started Oracle in 1977. Public 1986, a day before Microsoft. Owns 453-foot Rising Sun; built a smaller leisure boat because superyacht is hard to park. Squabbling in court with Swiss boating billionaire Ernesto Bertarelli over terms of next America’s Cup. Recently unveiled hulking 90-foot trimaran he intends to use to win it.
Sunday, November 29, 2009
Profile of Sachin Tendulkar
Full Name: Sachin Ramesh Tendulkar
Date of Birth: April 24, 1973
Place of Birth: Mumbai
Major Teams: India, Mumbai
Batting Style: Right -Hand Batsman
Bowling Style: Right Arm Medium, Leg Break, Right Arm Off Break
ODI Debut : India v Pakistan at Gujranwala, 2nd ODI, 1989/90
Test Debut : India v Pakistan at Karachi, 1st Test, 1989/90
Height : 5'5
The first batsman to score 10,000 runs in one-day cricket, making the record in the third game of a five-match series against Australia on the 31st of March 2001. He reached the landmark when he scored 34 runs in his 266th match and 259th innings. Tendulkar, 27, in his amazing 12-year career, has scored a world record 28 hundreds and 50 half-centuries in his 10,000 runs.
A genius without a doubt, this little master made his International debut in ODI’s and Tests at the age of 16 against Pakistan against the fiery pace of Wasim Akram and Waqar Younis. He then went to England as a part of the national side, and has not looked back ever since. The name itself strikes terror in the hearts of bowlers all around the world. Hailed as the next master-blaster following the legacy of the great West Indian Vivian Richards, this man has every shot in the book, and can kill any attack in the world when in full swing. There is nothing this man cannot do.
In batting, he has reached a stage that others can only dream of. He has destroyed practically every bowling attack in the world. Tendulkar's 'specialties' include the straight drive (seemingly nobody plays the shot better than him), the cover drive, the square cut, the pullshot over midwicket/square leg, the delicate leg glance, the late cut, the lofted shots over mid-on and mid-off and not to mention the improvisations he keeps coming up with, time and again. He has tremendous power in his forearms and can hit the ball out of almost every ground in the World. He plays each of his shots amazingly and has even employed the reverse sweep to good effect. Some of his shots are hit with so much power that the ball simply rockets to the fence as if he was trying to dismiss the ball from his presence. On the other hand, some of his shots are neatly timed and placed well. His timing can be quite exquisite and it is this blend of timing and raw power which makes him the world's best/greatest batsman. Mentally very strong, Tendulkar is best when confronted by a challenge.
Some remarkable achievements of his career are:
* 4th highest tally of runs in test cricket (10,134) at an outstanding average of 57.25 (highest among those who have scored over 8,500 test runs) as of March 2005
* Most runs (over 13642) and centuries (38) in one-day internationals
* Only person to have scored over 11,000 ODI runs and over 25 ODI centuries as of April 28, 2005
* Highest ODI batting average among Indian batsmen and among all batsmen who have scored over 7,500 ODI runs (as of April 3, 2005)
* Most Number of Man of the Matches in one-day internationals
* Only player to have over 100 innings of 50+ runs in ODIs as of April 2005
* Most Number of Runs in World Cup Cricket History
* First cricketer to cross 10,000-run mark in ODIs
* Has equalled Sunil Gavaskar's record of 34 test centuries.
* Among those who have played over 100 test matches, he is the only one with a batting average above 55.
* Only second Indian to cross 10,000 runs in Test matches.
* He has the most centuries in ODI cricket against Australia, South Africa, New Zealand, Sri Lanka and Zimbabwe.
* He is the fastest to score 10,000 runs in test cricket history. He holds this record along with Brian Lara. Both of them achieved this feat in 195 innings.
* To go with this he has 34 hundreds in Test cricket at an average of 57. An average above 50 distinguishes a batsman as an all time great.
* Highest individual score in ODIs among Indian batsmen (186* against New Zealand at Hyderabad in 1999)
Date of Birth: April 24, 1973
Place of Birth: Mumbai
Major Teams: India, Mumbai
Batting Style: Right -Hand Batsman
Bowling Style: Right Arm Medium, Leg Break, Right Arm Off Break
ODI Debut : India v Pakistan at Gujranwala, 2nd ODI, 1989/90
Test Debut : India v Pakistan at Karachi, 1st Test, 1989/90
Height : 5'5
The first batsman to score 10,000 runs in one-day cricket, making the record in the third game of a five-match series against Australia on the 31st of March 2001. He reached the landmark when he scored 34 runs in his 266th match and 259th innings. Tendulkar, 27, in his amazing 12-year career, has scored a world record 28 hundreds and 50 half-centuries in his 10,000 runs.
A genius without a doubt, this little master made his International debut in ODI’s and Tests at the age of 16 against Pakistan against the fiery pace of Wasim Akram and Waqar Younis. He then went to England as a part of the national side, and has not looked back ever since. The name itself strikes terror in the hearts of bowlers all around the world. Hailed as the next master-blaster following the legacy of the great West Indian Vivian Richards, this man has every shot in the book, and can kill any attack in the world when in full swing. There is nothing this man cannot do.
In batting, he has reached a stage that others can only dream of. He has destroyed practically every bowling attack in the world. Tendulkar's 'specialties' include the straight drive (seemingly nobody plays the shot better than him), the cover drive, the square cut, the pullshot over midwicket/square leg, the delicate leg glance, the late cut, the lofted shots over mid-on and mid-off and not to mention the improvisations he keeps coming up with, time and again. He has tremendous power in his forearms and can hit the ball out of almost every ground in the World. He plays each of his shots amazingly and has even employed the reverse sweep to good effect. Some of his shots are hit with so much power that the ball simply rockets to the fence as if he was trying to dismiss the ball from his presence. On the other hand, some of his shots are neatly timed and placed well. His timing can be quite exquisite and it is this blend of timing and raw power which makes him the world's best/greatest batsman. Mentally very strong, Tendulkar is best when confronted by a challenge.
Some remarkable achievements of his career are:
* 4th highest tally of runs in test cricket (10,134) at an outstanding average of 57.25 (highest among those who have scored over 8,500 test runs) as of March 2005
* Most runs (over 13642) and centuries (38) in one-day internationals
* Only person to have scored over 11,000 ODI runs and over 25 ODI centuries as of April 28, 2005
* Highest ODI batting average among Indian batsmen and among all batsmen who have scored over 7,500 ODI runs (as of April 3, 2005)
* Most Number of Man of the Matches in one-day internationals
* Only player to have over 100 innings of 50+ runs in ODIs as of April 2005
* Most Number of Runs in World Cup Cricket History
* First cricketer to cross 10,000-run mark in ODIs
* Has equalled Sunil Gavaskar's record of 34 test centuries.
* Among those who have played over 100 test matches, he is the only one with a batting average above 55.
* Only second Indian to cross 10,000 runs in Test matches.
* He has the most centuries in ODI cricket against Australia, South Africa, New Zealand, Sri Lanka and Zimbabwe.
* He is the fastest to score 10,000 runs in test cricket history. He holds this record along with Brian Lara. Both of them achieved this feat in 195 innings.
* To go with this he has 34 hundreds in Test cricket at an average of 57. An average above 50 distinguishes a batsman as an all time great.
* Highest individual score in ODIs among Indian batsmen (186* against New Zealand at Hyderabad in 1999)
IBM deploys analytics for a `Smarter Planet'
With about two lakh servers that it manages worldwide and an ever-growing stream of data from various sources, IBM is developing its strengths in Business Analytics and Optimisation (BAO) to create a `smarter planet'. The IT giant is helping companies and governments tread the green path using sensors and monitoring systems for rivers, water pipelines, electricity grids and road traffic.
"Smarter Planet is an initiative that is based on the digitisation of the world. As transistors have exploded, everything is digitised - the phone, car, appliance and utility network. Now we are seeing the digitisation of the natural world,'' Frank Kern, Senior Vice-President, IBM Global Business Services, told invited journalists at the company's headquarters in Armonk, New York.
Skill incubation
IBM wants to develop the fast-growing area of analytics to offer differentiated solutions. To this end, the company has announced six analytics centres around the world where skills in particular areas will be incubated. Besides, a Business Analytics Centre of Competency has been opened in Bangalore. The expertise gained in specialised areas in these centres will be available to clients globally.
While the Beijing centre is focussed on railways and transport to make them `smarter', Tokyo and Berlin work on smarter cities, New York on healthcare and public services, London on financial systems, and Washington DC on cyber security. Analytics skills are different from classic IT skills. They deal with collection, aggregation, relationships, cause and effect of data; they are a core competence, not just skills on the side.
"The six analytics solutions centres are designed to be hothouses of talent," said Fred Balboni, Global Leader, BAO, Global Business Services, IBM. Applications of analytics include lowering of health insurance fraud, inventory control in supply chains, optimising automobile manufacturing and repair processes, pollution and resource wastage, and even crime reduction.
IBM's work represents a shift over time - from plain information technology to the use of IT in business. That is because a significant part of the economy in several countries is made up of services, enabling new learning in services, productivity, technology re-use, data and analytics.
This understanding moved IBM, which achieved a record revenue of $103.6 billion during 2008, from being a component supplier, to the centre of the clients' business.
The company began to think how it could really make the planet better, smarter, more efficient, and less wasteful. "It placed us in the services economy,'' says Robert JT Morris, Vice-President of Services Research, who was responsible for the development of the Deep Blue chess machine that famously played Garry Kasparov.
Investment in research
IBM today invests $6 billion a year in research. The company has spent $12 billion over five years to build capabilities in BAO. A good case study of analytics creating value is its partnership with the city of Dubuque in Iowa, U.S. With a community of 60,000, Dubuque is small; 40 per cent of America's population lives in similar cities with fewer than two lakh people, and the results in Dubuque will have national and perhaps global appeal. So what is IBM doing here?
The city was looking for ways to improve sustainability, covering water management, energy and transport. The goal was to reduce the carbon footprint. Water management is the first area that IBM took up as part of its year-long, 250-house pilot that began in August. A quarter of the households and buildings in the U.S. have some sort of water leak.
The solution planned is to gather data using electronic water meters that record the smallest leaks that conventional meters cannot. "We will bring the data from the meters and do analytics on it,'' says Dr. Mahmoud Naghshineh, Director, IT Services Research at IBM.
Insights
Explosive growth in mobile telephony in India also provided some insights. It convinced researchers that if you "don't make it too complex,'' adoption becomes easier and the results are good. "You can get 60 or 70 per cent with what you already have,'' says Dr. Naghshineh, referring to simple data collection opportunities.
In Chicago, an IBM project deals with one of the largest video security deployments anywhere. The Office of Emergency Management and Communications (OEMC) wanted the technology to develop a video network that monitors traffic patterns continuously, while also being able to detect suspicious activity and potential public safety concerns. The result appears futuristic.
The experience gained from "millions of tickets of work'' around the globe is helping Big Blue pursue its Smarter Planet initiative.
The extensive knowledge base can potentially be deployed for clients worldwide. Analytics and optimisation is driving IBM to create greater value and deliver it globally.
Thursday, November 26, 2009
IIMT ORGANISING EVENT
Today (27st november 2009)IIMT Management college going to organising different types of events
In this event containce lot's of competition and in this competition most of greater noida and NCR management college student participate.
some events name are
-Tol mol ke bole
-skit
-Business Quiz
and some other activity also cunducting by IIMT MANAGEMENT COLLEGE GREATER NOIDA.
In this event containce lot's of competition and in this competition most of greater noida and NCR management college student participate.
some events name are
-Tol mol ke bole
-skit
-Business Quiz
and some other activity also cunducting by IIMT MANAGEMENT COLLEGE GREATER NOIDA.
Ratan Tata to group cos: Freeze acquisitions, capex plans
Mumbai, Nov. 12 Warning of hard days ahead, Mr RatanTata has asked all the Tata Group companies to put on hold their acquisition and capital expenditure plans.
In a letter sent to heads of the group firms and their subsidiaries, Mr Tata has asked them to drastically cut operational expenditure and improve efficiencies.
“Put on hold any plans for acquisition unless considered strategically critical and also defer non-essential capital expenditure and capacity expansion,” Mr Tata, head of the Tata group, said in the letter, prescribing a set of belt-tightening measures for the group firms to weather the financial storm that is blowing across the globe.
To shore up as much cash possible, he has told companies to finalise pending loans and funding agreements, even if they involve accepting higher interest rates.
“Some of our companies with substantial foreign operations or those which have made substantial acquisitions are already facing major problems in raising capital or establishing lines of credit for their operations,” Mr Tata said.
The Tata group had made several big ticket acquisitions overseas including Corus Steel and the iconic auto brands Jaguar and Land Rover in the UK. The group had raised large sums in debt to finance these acquisitions.
“In India also many of our companies already are or will soon face major problems in their access to credit due to the lack of liquidity in the domestic market as also their inability to effectively raise equity due to the depression in the stock market and the erosion of investor confidence,” said Mr Tata.
Despite the measures announced by various Governments, liquidity will continue to be a major problem. “This state of affairs is not likely to improve substantially over the next 12 months.”
“I believe each of our companies needs to undertake a critical review of its cash flow requirement. Business plan with defined strategies need to operate in this difficult period. Failure to manage this crisis could result in irretrievable positions.” Mr Tata has advised the top management to form task forces to prepare plans of action by early January with specific targets to face the difficult months ahead.
Mumbai, Nov. 12 Warning of hard days ahead, Mr RatanTata has asked all the Tata Group companies to put on hold their acquisition and capital expenditure plans.
In a letter sent to heads of the group firms and their subsidiaries, Mr Tata has asked them to drastically cut operational expenditure and improve efficiencies.
“Put on hold any plans for acquisition unless considered strategically critical and also defer non-essential capital expenditure and capacity expansion,” Mr Tata, head of the Tata group, said in the letter, prescribing a set of belt-tightening measures for the group firms to weather the financial storm that is blowing across the globe.
To shore up as much cash possible, he has told companies to finalise pending loans and funding agreements, even if they involve accepting higher interest rates.
“Some of our companies with substantial foreign operations or those which have made substantial acquisitions are already facing major problems in raising capital or establishing lines of credit for their operations,” Mr Tata said.
The Tata group had made several big ticket acquisitions overseas including Corus Steel and the iconic auto brands Jaguar and Land Rover in the UK. The group had raised large sums in debt to finance these acquisitions.
“In India also many of our companies already are or will soon face major problems in their access to credit due to the lack of liquidity in the domestic market as also their inability to effectively raise equity due to the depression in the stock market and the erosion of investor confidence,” said Mr Tata.
Despite the measures announced by various Governments, liquidity will continue to be a major problem. “This state of affairs is not likely to improve substantially over the next 12 months.”
“I believe each of our companies needs to undertake a critical review of its cash flow requirement. Business plan with defined strategies need to operate in this difficult period. Failure to manage this crisis could result in irretrievable positions.” Mr Tata has advised the top management to form task forces to prepare plans of action by early January with specific targets to face the difficult months ahead.
Ratan Tata to group cos: Freeze acquisitions, capex plans
Mumbai, Nov. 12 Warning of hard days ahead, Mr RatanTata has asked all the Tata Group companies to put on hold their acquisition and capital expenditure plans.
In a letter sent to heads of the group firms and their subsidiaries, Mr Tata has asked them to drastically cut operational expenditure and improve efficiencies.
“Put on hold any plans for acquisition unless considered strategically critical and also defer non-essential capital expenditure and capacity expansion,” Mr Tata, head of the Tata group, said in the letter, prescribing a set of belt-tightening measures for the group firms to weather the financial storm that is blowing across the globe.
To shore up as much cash possible, he has told companies to finalise pending loans and funding agreements, even if they involve accepting higher interest rates.
“Some of our companies with substantial foreign operations or those which have made substantial acquisitions are already facing major problems in raising capital or establishing lines of credit for their operations,” Mr Tata said.
The Tata group had made several big ticket acquisitions overseas including Corus Steel and the iconic auto brands Jaguar and Land Rover in the UK. The group had raised large sums in debt to finance these acquisitions.
“In India also many of our companies already are or will soon face major problems in their access to credit due to the lack of liquidity in the domestic market as also their inability to effectively raise equity due to the depression in the stock market and the erosion of investor confidence,” said Mr Tata.
Despite the measures announced by various Governments, liquidity will continue to be a major problem. “This state of affairs is not likely to improve substantially over the next 12 months.”
“I believe each of our companies needs to undertake a critical review of its cash flow requirement. Business plan with defined strategies need to operate in this difficult period. Failure to manage this crisis could result in irretrievable positions.” Mr Tata has advised the top management to form task forces to prepare plans of action by early January with specific targets to face the difficult months ahead.
Mumbai, Nov. 12 Warning of hard days ahead, Mr RatanTata has asked all the Tata Group companies to put on hold their acquisition and capital expenditure plans.
In a letter sent to heads of the group firms and their subsidiaries, Mr Tata has asked them to drastically cut operational expenditure and improve efficiencies.
“Put on hold any plans for acquisition unless considered strategically critical and also defer non-essential capital expenditure and capacity expansion,” Mr Tata, head of the Tata group, said in the letter, prescribing a set of belt-tightening measures for the group firms to weather the financial storm that is blowing across the globe.
To shore up as much cash possible, he has told companies to finalise pending loans and funding agreements, even if they involve accepting higher interest rates.
“Some of our companies with substantial foreign operations or those which have made substantial acquisitions are already facing major problems in raising capital or establishing lines of credit for their operations,” Mr Tata said.
The Tata group had made several big ticket acquisitions overseas including Corus Steel and the iconic auto brands Jaguar and Land Rover in the UK. The group had raised large sums in debt to finance these acquisitions.
“In India also many of our companies already are or will soon face major problems in their access to credit due to the lack of liquidity in the domestic market as also their inability to effectively raise equity due to the depression in the stock market and the erosion of investor confidence,” said Mr Tata.
Despite the measures announced by various Governments, liquidity will continue to be a major problem. “This state of affairs is not likely to improve substantially over the next 12 months.”
“I believe each of our companies needs to undertake a critical review of its cash flow requirement. Business plan with defined strategies need to operate in this difficult period. Failure to manage this crisis could result in irretrievable positions.” Mr Tata has advised the top management to form task forces to prepare plans of action by early January with specific targets to face the difficult months ahead.
Wednesday, November 25, 2009
Profile of Yves Carcelle
Yves Carcelle
Chief Executive Officer of the Fashion and Leather Goods Group, LVMH Moet Hennessy Louis Vuitton
This person is connected to two different industries
BACKGROUND
Yves Carcelle serves as Chief Executive Officer of the Fashion and Leather Goods Group of LVMH Moet Hennessy Louis Vuitton. Mr. Carcelle serves as President of the LVMH Fashion Group of Fendi S.R.L. He served as a Director of Christian Dior SA. .
by
Anand Kumar Pandey
pgdm sec-a
3rd sem
Chief Executive Officer of the Fashion and Leather Goods Group, LVMH Moet Hennessy Louis Vuitton
This person is connected to two different industries
BACKGROUND
Yves Carcelle serves as Chief Executive Officer of the Fashion and Leather Goods Group of LVMH Moet Hennessy Louis Vuitton. Mr. Carcelle serves as President of the LVMH Fashion Group of Fendi S.R.L. He served as a Director of Christian Dior SA. .
by
Anand Kumar Pandey
pgdm sec-a
3rd sem
Rajesh Saxena named American Express India CEO
Bangalore: Global payment and travel company American Express on Tuesday announced the appointment of Rajesh Saxena as Chief Executive Officer for American Express Banking Corp. (AEBC), India.
Saxena would head the country executive team and directly manage the international consumer card and small business services, leading the company's marketing, acquisition, product development and insurance areas, it said in a statement.
In this role, Saxena would also spearhead several strategic and business development initiatives for the company while steering smooth collaboration across its diverse businesses in India, it said.
Most recently he served as sales and marketing head, Citi Cards in Japan where he had diverse responsibilities in all front office units including sales, marketing, partnership, merchants, corporate business and merchandising, according to the statement.
By,
Khushboo
pgdm sec-a
3rd sem
Saxena would head the country executive team and directly manage the international consumer card and small business services, leading the company's marketing, acquisition, product development and insurance areas, it said in a statement.
In this role, Saxena would also spearhead several strategic and business development initiatives for the company while steering smooth collaboration across its diverse businesses in India, it said.
Most recently he served as sales and marketing head, Citi Cards in Japan where he had diverse responsibilities in all front office units including sales, marketing, partnership, merchants, corporate business and merchandising, according to the statement.
By,
Khushboo
pgdm sec-a
3rd sem
Ratan Tata to group cos: Freeze acquisitions, capex plans
Mumbai, Nov. 12 Warning of hard days ahead, Mr RatanTata has asked all the Tata Group companies to put on hold their acquisition and capital expenditure plans.
In a letter sent to heads of the group firms and their subsidiaries, Mr Tata has asked them to drastically cut operational expenditure and improve efficiencies.
“Put on hold any plans for acquisition unless considered strategically critical and also defer non-essential capital expenditure and capacity expansion,” Mr Tata, head of the Tata group, said in the letter, prescribing a set of belt-tightening measures for the group firms to weather the financial storm that is blowing across the globe.
To shore up as much cash possible, he has told companies to finalise pending loans and funding agreements, even if they involve accepting higher interest rates.
“Some of our companies with substantial foreign operations or those which have made substantial acquisitions are already facing major problems in raising capital or establishing lines of credit for their operations,” Mr Tata said.
The Tata group had made several big ticket acquisitions overseas including Corus Steel and the iconic auto brands Jaguar and Land Rover in the UK. The group had raised large sums in debt to finance these acquisitions.
“In India also many of our companies already are or will soon face major problems in their access to credit due to the lack of liquidity in the domestic market as also their inability to effectively raise equity due to the depression in the stock market and the erosion of investor confidence,” said Mr Tata.
Despite the measures announced by various Governments, liquidity will continue to be a major problem. “This state of affairs is not likely to improve substantially over the next 12 months.”
“I believe each of our companies needs to undertake a critical review of its cash flow requirement. Business plan with defined strategies need to operate in this difficult period. Failure to manage this crisis could result in irretrievable positions.” Mr Tata has advised the top management to form task forces to prepare plans of action by early January with specific targets to face the difficult months ahead.
In a letter sent to heads of the group firms and their subsidiaries, Mr Tata has asked them to drastically cut operational expenditure and improve efficiencies.
“Put on hold any plans for acquisition unless considered strategically critical and also defer non-essential capital expenditure and capacity expansion,” Mr Tata, head of the Tata group, said in the letter, prescribing a set of belt-tightening measures for the group firms to weather the financial storm that is blowing across the globe.
To shore up as much cash possible, he has told companies to finalise pending loans and funding agreements, even if they involve accepting higher interest rates.
“Some of our companies with substantial foreign operations or those which have made substantial acquisitions are already facing major problems in raising capital or establishing lines of credit for their operations,” Mr Tata said.
The Tata group had made several big ticket acquisitions overseas including Corus Steel and the iconic auto brands Jaguar and Land Rover in the UK. The group had raised large sums in debt to finance these acquisitions.
“In India also many of our companies already are or will soon face major problems in their access to credit due to the lack of liquidity in the domestic market as also their inability to effectively raise equity due to the depression in the stock market and the erosion of investor confidence,” said Mr Tata.
Despite the measures announced by various Governments, liquidity will continue to be a major problem. “This state of affairs is not likely to improve substantially over the next 12 months.”
“I believe each of our companies needs to undertake a critical review of its cash flow requirement. Business plan with defined strategies need to operate in this difficult period. Failure to manage this crisis could result in irretrievable positions.” Mr Tata has advised the top management to form task forces to prepare plans of action by early January with specific targets to face the difficult months ahead.
Mahindra Satyam says not losing clients
IT services firm Mahindra Satyam said customer attrition has stopped and it is not offering price cuts to win new deals, a company executive said.
"We inherited 380 customers and we have not lost any. We have added about 36, so we have about 420 (as of now)," Atul Kunwar, president, global operations, said at the Reuters India Investment Summit held in Bangalore.
Mahindra Satyam, which counts General Electric Co, Cisco Systems and GlaxoSmithKline Plc among its clients, has renewed over 50 deals in the last three months.
"A lot of these are multi-year deals," Kunwar said.
The company, earlier known as Satyam Computer Services, was acquired in April by Tech Mahindra, a unit of tractor and utility vehicle maker Mahindra & Mahindra, after being hit by India's biggest corporate scandal.
Kunwar said the company is not seeing any payment delays.
"In fact, the customers are being overly good to us. No payments are being held up," Kunwar said.
Mahindra Satyam, which is in talks with the World Bank to lift a ban, said it is hopeful of completing the restatement of its accounts by June 2010.
In December last year, Satyam Computer Services was barred from business with the World Bank for eight years.
The firm currently has 35,000 employees, including the virtual pool.
Shares in Mahindra Satyam were trading down more than 7 per cent at 94.25 rupees in the main Mumbai market that was up 0.7 per cent.
"We inherited 380 customers and we have not lost any. We have added about 36, so we have about 420 (as of now)," Atul Kunwar, president, global operations, said at the Reuters India Investment Summit held in Bangalore.
Mahindra Satyam, which counts General Electric Co, Cisco Systems and GlaxoSmithKline Plc among its clients, has renewed over 50 deals in the last three months.
"A lot of these are multi-year deals," Kunwar said.
The company, earlier known as Satyam Computer Services, was acquired in April by Tech Mahindra, a unit of tractor and utility vehicle maker Mahindra & Mahindra, after being hit by India's biggest corporate scandal.
Kunwar said the company is not seeing any payment delays.
"In fact, the customers are being overly good to us. No payments are being held up," Kunwar said.
Mahindra Satyam, which is in talks with the World Bank to lift a ban, said it is hopeful of completing the restatement of its accounts by June 2010.
In December last year, Satyam Computer Services was barred from business with the World Bank for eight years.
The firm currently has 35,000 employees, including the virtual pool.
Shares in Mahindra Satyam were trading down more than 7 per cent at 94.25 rupees in the main Mumbai market that was up 0.7 per cent.
Barrie Howard
VP Global Sponsorship
Visa International
In 1991, Barrie Howard joined the organization as a Service Quality Manager in Visa USA. Her responsibilities were to manage third party vendors providing customer service assistance to Visa cardholders.
Barrie’s first interaction with Visa’s global sponsorships began with the Atlanta 1996 Olympic Games. She was responsible for implementing and managing the Visa Customer Service Center during the Games. The Center was strategically located near the Olympic stadium and serviced over 50,000 customers.
From the Atlanta 1996 Olympic Games, Barrie transferred to the Visa Tokyo office to direct all project management for the operational implementation of the Nagano 1998 Winter Olympic Games. She managed the selection and buildout of the Visa Customer Center and Visa Command Center, and day to day operation of these locations. Other responsibilities included staff logistics and operations for approximately 70 Visa staff working on the Games. Additionally, she worked with the Visa Tokyo Marketing team to implement Member activation and partnership marketing programs with the sponsorship.
The next Olympic Games took Barrie to Sydney, Australia to work with the Visa Sydney office to manage the operations and logistics of the Visa sponsorship along with support of marketing efforts with Members and Merchant partners for the Sydney 2000 Olympic Games. In 2000, Barrie returned back to the Visa International headquarters in Foster City continuing work on all global sponsorships (e.g. Rugby World Cup, Olympic and Paralympic Games). She worked with the Visa London office to implement all operations and logistics for the Olympic Games held in Europe (Athens 2004 and Torino 2006). Other responsibilities include supporting Visa Asia Pacific and Visa Latin America with their leveraging efforts with the Member banks and Merchants. Barrie worked on a new wave marketing initiative targeted at the tech savy, Gen Y audience called Visa Championships – Torino 2006.
This was an Olympic online video game launched in 23 markets globally with the national winner from each country winning a trip to the Torino 2006 Winter Olympic Games. Coming off of the success of the Torino 2006 Olympic and Paralympic Winter Games for Visa, Barrie relocated to Beijing, China to work with the Visa China and Asia Pacific teams for the spectacular and successful implementation of the Olympic and Paralympic Games.
Barrie’s recent move to London will be to continue as the Head of Operations for all global sponsorships (Olympics and FIFA), and support the infrastructure development of the London 2012 Olympic and Paralympic Games.
MAYANK SRIVASTAVA
PGDM 1st SEM.
YEAR 2009-11
VP Global Sponsorship
Visa International
In 1991, Barrie Howard joined the organization as a Service Quality Manager in Visa USA. Her responsibilities were to manage third party vendors providing customer service assistance to Visa cardholders.
Barrie’s first interaction with Visa’s global sponsorships began with the Atlanta 1996 Olympic Games. She was responsible for implementing and managing the Visa Customer Service Center during the Games. The Center was strategically located near the Olympic stadium and serviced over 50,000 customers.
From the Atlanta 1996 Olympic Games, Barrie transferred to the Visa Tokyo office to direct all project management for the operational implementation of the Nagano 1998 Winter Olympic Games. She managed the selection and buildout of the Visa Customer Center and Visa Command Center, and day to day operation of these locations. Other responsibilities included staff logistics and operations for approximately 70 Visa staff working on the Games. Additionally, she worked with the Visa Tokyo Marketing team to implement Member activation and partnership marketing programs with the sponsorship.
The next Olympic Games took Barrie to Sydney, Australia to work with the Visa Sydney office to manage the operations and logistics of the Visa sponsorship along with support of marketing efforts with Members and Merchant partners for the Sydney 2000 Olympic Games. In 2000, Barrie returned back to the Visa International headquarters in Foster City continuing work on all global sponsorships (e.g. Rugby World Cup, Olympic and Paralympic Games). She worked with the Visa London office to implement all operations and logistics for the Olympic Games held in Europe (Athens 2004 and Torino 2006). Other responsibilities include supporting Visa Asia Pacific and Visa Latin America with their leveraging efforts with the Member banks and Merchants. Barrie worked on a new wave marketing initiative targeted at the tech savy, Gen Y audience called Visa Championships – Torino 2006.
This was an Olympic online video game launched in 23 markets globally with the national winner from each country winning a trip to the Torino 2006 Winter Olympic Games. Coming off of the success of the Torino 2006 Olympic and Paralympic Winter Games for Visa, Barrie relocated to Beijing, China to work with the Visa China and Asia Pacific teams for the spectacular and successful implementation of the Olympic and Paralympic Games.
Barrie’s recent move to London will be to continue as the Head of Operations for all global sponsorships (Olympics and FIFA), and support the infrastructure development of the London 2012 Olympic and Paralympic Games.
MAYANK SRIVASTAVA
PGDM 1st SEM.
YEAR 2009-11
Barrie Howard
VP Global Sponsorship
Visa International
In 1991, Barrie Howard joined the organization as a Service Quality Manager in Visa USA. Her responsibilities were to manage third party vendors providing customer service assistance to Visa cardholders.
Barrie’s first interaction with Visa’s global sponsorships began with the Atlanta 1996 Olympic Games. She was responsible for implementing and managing the Visa Customer Service Center during the Games. The Center was strategically located near the Olympic stadium and serviced over 50,000 customers.
From the Atlanta 1996 Olympic Games, Barrie transferred to the Visa Tokyo office to direct all project management for the operational implementation of the Nagano 1998 Winter Olympic Games. She managed the selection and buildout of the Visa Customer Center and Visa Command Center, and day to day operation of these locations. Other responsibilities included staff logistics and operations for approximately 70 Visa staff working on the Games. Additionally, she worked with the Visa Tokyo Marketing team to implement Member activation and partnership marketing programs with the sponsorship.
The next Olympic Games took Barrie to Sydney, Australia to work with the Visa Sydney office to manage the operations and logistics of the Visa sponsorship along with support of marketing efforts with Members and Merchant partners for the Sydney 2000 Olympic Games. In 2000, Barrie returned back to the Visa International headquarters in Foster City continuing work on all global sponsorships (e.g. Rugby World Cup, Olympic and Paralympic Games). She worked with the Visa London office to implement all operations and logistics for the Olympic Games held in Europe (Athens 2004 and Torino 2006). Other responsibilities include supporting Visa Asia Pacific and Visa Latin America with their leveraging efforts with the Member banks and Merchants. Barrie worked on a new wave marketing initiative targeted at the tech savy, Gen Y audience called Visa Championships – Torino 2006.
This was an Olympic online video game launched in 23 markets globally with the national winner from each country winning a trip to the Torino 2006 Winter Olympic Games. Coming off of the success of the Torino 2006 Olympic and Paralympic Winter Games for Visa, Barrie relocated to Beijing, China to work with the Visa China and Asia Pacific teams for the spectacular and successful implementation of the Olympic and Paralympic Games.
Barrie’s recent move to London will be to continue as the Head of Operations for all global sponsorships (Olympics and FIFA), and support the infrastructure development of the London 2012 Olympic and Paralympic Games.
MAYANK SRIVASTAVA
PGDM 1st SEM.
YEAR 2009-11
VP Global Sponsorship
Visa International
In 1991, Barrie Howard joined the organization as a Service Quality Manager in Visa USA. Her responsibilities were to manage third party vendors providing customer service assistance to Visa cardholders.
Barrie’s first interaction with Visa’s global sponsorships began with the Atlanta 1996 Olympic Games. She was responsible for implementing and managing the Visa Customer Service Center during the Games. The Center was strategically located near the Olympic stadium and serviced over 50,000 customers.
From the Atlanta 1996 Olympic Games, Barrie transferred to the Visa Tokyo office to direct all project management for the operational implementation of the Nagano 1998 Winter Olympic Games. She managed the selection and buildout of the Visa Customer Center and Visa Command Center, and day to day operation of these locations. Other responsibilities included staff logistics and operations for approximately 70 Visa staff working on the Games. Additionally, she worked with the Visa Tokyo Marketing team to implement Member activation and partnership marketing programs with the sponsorship.
The next Olympic Games took Barrie to Sydney, Australia to work with the Visa Sydney office to manage the operations and logistics of the Visa sponsorship along with support of marketing efforts with Members and Merchant partners for the Sydney 2000 Olympic Games. In 2000, Barrie returned back to the Visa International headquarters in Foster City continuing work on all global sponsorships (e.g. Rugby World Cup, Olympic and Paralympic Games). She worked with the Visa London office to implement all operations and logistics for the Olympic Games held in Europe (Athens 2004 and Torino 2006). Other responsibilities include supporting Visa Asia Pacific and Visa Latin America with their leveraging efforts with the Member banks and Merchants. Barrie worked on a new wave marketing initiative targeted at the tech savy, Gen Y audience called Visa Championships – Torino 2006.
This was an Olympic online video game launched in 23 markets globally with the national winner from each country winning a trip to the Torino 2006 Winter Olympic Games. Coming off of the success of the Torino 2006 Olympic and Paralympic Winter Games for Visa, Barrie relocated to Beijing, China to work with the Visa China and Asia Pacific teams for the spectacular and successful implementation of the Olympic and Paralympic Games.
Barrie’s recent move to London will be to continue as the Head of Operations for all global sponsorships (Olympics and FIFA), and support the infrastructure development of the London 2012 Olympic and Paralympic Games.
MAYANK SRIVASTAVA
PGDM 1st SEM.
YEAR 2009-11
Unitech seeks approval to raise $700 m through FCCB issue
NEW DELHI: India’s second-largest real estate company Unitech will raise $700 million through foreign currency convertible bonds (FCCBs). The
company has sought approval from the Department of Industrial Policy and Planning (DIPP) and the Reserve Bank of India to raise the fund through convertible instruments.
The company has assured the government that the fund will be used for an integrated township and not for repaying existing debts. “The company will ring fence the fund raised through this route for a dedicated project (integrated township) through an escrow account,†a senior company official requesting anonymity said.
The company spokesperson refused to comment on the issue. The FCCBs are raised from foreign institutional investors and banks. The holders of FCCBs have the option to either redeem the bonds after the maturity period or convert them into equity at a pre-determined price.
Until then, the bonds carry a nominal rate of interest.
In January 2009, as part of the second stimulus package, the government allowed real estate companies to mop up funds through external commercial borrowings (ECBs) for integrated township project. But no realty company had approached the government so far seeking permission to raise fund through this route.
One of the key reasons why Unitech is looking overseas to raise money is to bring down the overall cost of debt, which is around 13%, said a company official on the condition of anonymity.
In case approval is granted, this will be the first case in which a real estate company is being allowed to raise funds through FCCBs. In May 2007, the government had barred real estate company from raising ECBs, even for setting up integrated townships.
As per a senior government official, the DIPP has approved the proposal and sent it for approval of Department of Economic Affairs in the finance ministry. The company has also approached RBI seeking exemption of three-year lock-in, since it is a convertible instrument and should be treated as debt till time of conversion, said a senior executive involved in the process.
Currently, under the government's ECB norms that also govern FCCBs, there's a three-year lock-in before which one cannot redeem the bonds.
According to a company official, Unitech has said the fund should be treated as pure debt till it is converted into equity. It has also given a commitment that at the time of conversion, the allotment of share will be made only to those overseas portfolio investors which are registered with the Securities and Exchange Board of India (SEBI).
Unitech is on a fund-raising spree this year. It has already raised $900 million, equivalent to Rs 4,000 crore, through two rounds of qualified institutional placements (QIPs). In June, it raised $575 million at Rs 82 per share. Prior to this, in March 2009, the company raised $325 million at Rs 38.50 per share.
Part of these funds have been used to repay its debts. The company had a total debt of over Rs 10,000 crore. After adjusting the debts toward telecom venture, it had a residual debt of Rs 8,600 crore before the QIP placement in March 2009. Its current debt is around Rs 6,300 crore, that means the company has repaid a debt of Rs 2,300 crore and the balance amount was used for implementing projects.
company has sought approval from the Department of Industrial Policy and Planning (DIPP) and the Reserve Bank of India to raise the fund through convertible instruments.
The company has assured the government that the fund will be used for an integrated township and not for repaying existing debts. “The company will ring fence the fund raised through this route for a dedicated project (integrated township) through an escrow account,†a senior company official requesting anonymity said.
The company spokesperson refused to comment on the issue. The FCCBs are raised from foreign institutional investors and banks. The holders of FCCBs have the option to either redeem the bonds after the maturity period or convert them into equity at a pre-determined price.
Until then, the bonds carry a nominal rate of interest.
In January 2009, as part of the second stimulus package, the government allowed real estate companies to mop up funds through external commercial borrowings (ECBs) for integrated township project. But no realty company had approached the government so far seeking permission to raise fund through this route.
One of the key reasons why Unitech is looking overseas to raise money is to bring down the overall cost of debt, which is around 13%, said a company official on the condition of anonymity.
In case approval is granted, this will be the first case in which a real estate company is being allowed to raise funds through FCCBs. In May 2007, the government had barred real estate company from raising ECBs, even for setting up integrated townships.
As per a senior government official, the DIPP has approved the proposal and sent it for approval of Department of Economic Affairs in the finance ministry. The company has also approached RBI seeking exemption of three-year lock-in, since it is a convertible instrument and should be treated as debt till time of conversion, said a senior executive involved in the process.
Currently, under the government's ECB norms that also govern FCCBs, there's a three-year lock-in before which one cannot redeem the bonds.
According to a company official, Unitech has said the fund should be treated as pure debt till it is converted into equity. It has also given a commitment that at the time of conversion, the allotment of share will be made only to those overseas portfolio investors which are registered with the Securities and Exchange Board of India (SEBI).
Unitech is on a fund-raising spree this year. It has already raised $900 million, equivalent to Rs 4,000 crore, through two rounds of qualified institutional placements (QIPs). In June, it raised $575 million at Rs 82 per share. Prior to this, in March 2009, the company raised $325 million at Rs 38.50 per share.
Part of these funds have been used to repay its debts. The company had a total debt of over Rs 10,000 crore. After adjusting the debts toward telecom venture, it had a residual debt of Rs 8,600 crore before the QIP placement in March 2009. Its current debt is around Rs 6,300 crore, that means the company has repaid a debt of Rs 2,300 crore and the balance amount was used for implementing projects.
Facebook creates new share structure
Facebook, the world's largest social networking site, has created a dual-class share structure to give its owners full control over the company.
A number of privately-owned firms, including Google, have introduced a similar structure before becoming publicly listed companies.
But Facebook said it had no plans to go public "at this time".
The site has more than 300 million monthly users and is now making money, well ahead of schedule.
"We did introduce a dual class stock structure because existing shareholders wanted to maintain control over voting on certain issues, to help ensure the company can continue to focus on the long term to build a great business," said Facebook spokesman Larry Yu.
Analysts said that without the new structure, new shareholders could force through business decisions based on short-term gain rather than long-term interests.
A number of privately-owned firms, including Google, have introduced a similar structure before becoming publicly listed companies.
But Facebook said it had no plans to go public "at this time".
The site has more than 300 million monthly users and is now making money, well ahead of schedule.
"We did introduce a dual class stock structure because existing shareholders wanted to maintain control over voting on certain issues, to help ensure the company can continue to focus on the long term to build a great business," said Facebook spokesman Larry Yu.
Analysts said that without the new structure, new shareholders could force through business decisions based on short-term gain rather than long-term interests.
BACKGROUND
Carlos Ghosn has been Financial Director of Nissan Motor Co. Ltd., since March 19, 2005 and serves as its President. Mr. Ghosn serves as Chief Executive Officer and President, Nissan Motor of Nissan Diesel Motor Co. Ltd. He has been Chief Executive Officer and President of Renault SA since May 2005. He served as Chief Executive Officer of North America at Nissan North America Inc. until March 16, 2007. He served as Chief Executive Officer of Nissan Motor Co. Ltd. He ... served as the Chief Operating Officer of Nissan from 1999 to 2001. Previously, Mr. Ghosn served as the Chairman and President of Renault SA since May 2005 and served as its Executive Vice President from 1996 to 1999, where he was responsible for advanced research, car engineering and development, car manufacturing, power train operations and purchasing. He joined Renault SA in 1996. He served as Chief Operating Officer of Michelin-BRAZIL since 1985. From 1979 to 1996, he served in various capacities with Compagnie Générale des Éstablissements Michelin in the U.S. and Brazil, including Chairman, President and Chief Executive Officer of Michelin North America Inc. from 1990 to 1996. He joined Michelin in 1978 as Plant Manager in Le Puy (France), and served as head of research and development for industrial tires in Ladoux (France). Mr. Ghosn presided over the restructuring of Michelin North America after the acquisition of Uniroyal Goodrich Tire Company in 1990. He has been Chairman of Renault SA since December 2008. He has been Co-Chairman of Nissan Motor Company Ltd., since March 17, 2003. He served as the Chairman of Nissan Motor Co. Ltd. He has been Director of Renault SA since May 2005. He serves as an Executive Director of Nissan Motor Company Ltd. Mr. Ghosn has been a Director of Alcoa Inc., Alcoa Closure Systems International Inc. and Alcoa of Australia Ltd., since 2002. He has been a Director of Alcoa Automotive Inc. since 2002. He serves as a Director of Mirant Corporation and Public Joint-Stock Company "AVTOVAZ". Mr. Ghosn served as a Director of International Business Machines Corp. from March 1, 2004 to April 1, 2005. He served as a Director of Nissan Motor Company Ltd., since 1999. He served as a Director of Sony Corp. since 2003. He is the author of the book, Renaissance, which describes the turnaround of Nissan. Mr. Ghosn holds an Engineering degrees from the Ecole Polytechnique and the Ecole des Mines de Paris in France.
by
Carlos Ghosn has been Financial Director of Nissan Motor Co. Ltd., since March 19, 2005 and serves as its President. Mr. Ghosn serves as Chief Executive Officer and President, Nissan Motor of Nissan Diesel Motor Co. Ltd. He has been Chief Executive Officer and President of Renault SA since May 2005. He served as Chief Executive Officer of North America at Nissan North America Inc. until March 16, 2007. He served as Chief Executive Officer of Nissan Motor Co. Ltd. He ... served as the Chief Operating Officer of Nissan from 1999 to 2001. Previously, Mr. Ghosn served as the Chairman and President of Renault SA since May 2005 and served as its Executive Vice President from 1996 to 1999, where he was responsible for advanced research, car engineering and development, car manufacturing, power train operations and purchasing. He joined Renault SA in 1996. He served as Chief Operating Officer of Michelin-BRAZIL since 1985. From 1979 to 1996, he served in various capacities with Compagnie Générale des Éstablissements Michelin in the U.S. and Brazil, including Chairman, President and Chief Executive Officer of Michelin North America Inc. from 1990 to 1996. He joined Michelin in 1978 as Plant Manager in Le Puy (France), and served as head of research and development for industrial tires in Ladoux (France). Mr. Ghosn presided over the restructuring of Michelin North America after the acquisition of Uniroyal Goodrich Tire Company in 1990. He has been Chairman of Renault SA since December 2008. He has been Co-Chairman of Nissan Motor Company Ltd., since March 17, 2003. He served as the Chairman of Nissan Motor Co. Ltd. He has been Director of Renault SA since May 2005. He serves as an Executive Director of Nissan Motor Company Ltd. Mr. Ghosn has been a Director of Alcoa Inc., Alcoa Closure Systems International Inc. and Alcoa of Australia Ltd., since 2002. He has been a Director of Alcoa Automotive Inc. since 2002. He serves as a Director of Mirant Corporation and Public Joint-Stock Company "AVTOVAZ". Mr. Ghosn served as a Director of International Business Machines Corp. from March 1, 2004 to April 1, 2005. He served as a Director of Nissan Motor Company Ltd., since 1999. He served as a Director of Sony Corp. since 2003. He is the author of the book, Renaissance, which describes the turnaround of Nissan. Mr. Ghosn holds an Engineering degrees from the Ecole Polytechnique and the Ecole des Mines de Paris in France.
by
This is Gupta’s second attempt in two years to tap the IPO route. His first attempt in February last year failed due to lack of investor interest.
Things have improved for the property sector since then, but only just. Valuations have moved south globally and there are enough experts who see red whenever prices go up a bit.
So, Gupta is trying hard to convince prospective investors but, like any other real estate developer, has a tough task ahead. Property sales saw their lowest levels during the September 2008-May 2009 period, after global economic slowdown forced buyers to postpone home buys to save cash. This led to slower growth and project delays impacting the profitability of companies in the sector.
Emaar MGF reported losses, too. The net loss before tax for FY 2009 was Rs 166.3 crore, says the latest draft red herring prospectus (DRHP) filed by the company. The company also saw many of its 29 projects getting delayed. For instance, the project named The Views in Mohali was supposed to be completed by this financial year, by the previous DRHP. It is now postponed to 2011-1012, a delay of over a year.
The job loss and economic slowdown in the country also saw buyers cancelling bookings in Emaar MGF’s premium projects. Mohali Hills, where the developer is selling plots, witnessed the number of units sold coming down to 1,681 as on August 31, 2009 from 1,723 as on August 31, 2007, with the difference reflecting cancellations. The company had started construction on this site in 2006-07.
This trend is seen across all sectors of real estate. These include residential projects at Gurgaon and Chennai. The completion date for their only ongoing retail project, The Central Plaza, in Mohali Hills, has been extended to the next financial year from the current one, according to the new DRHP.
The company was developing IT office spaces in various cities such as Gurgaon, Chennai and Hyderabad, said the earlier DRHP. Projects in the latter two cities are excluded from the recent DRHP. The Gurgaon IT project is now split in three commercial spaces, with IT occupying only 4.2 acres as compared to 15 acres earlier.
To adjust to the new market demands, the company has started making changes to its projects. Just like other large developers ventured into affordable housing, Emaar MGF resized its new launches to make these more affordable—Emerald Hills and Emerald Estates in Gurgaon, for instance. Sources said this strategy has started paying and the company has seen sales picking up.
But the biggest concern for investors putting money in the realtor’s IPO is the debt of Rs 5,807.8 crore. The company’s debt-to-equity ratio is 1.2:1. If the IPO goes through this time, it plans to pay off Rs 1,972.1 crore of debt from the Rs 3,850 crore it will garner. This will take care of 46 per cent of the loan the company had taken till March this year.
It remains to be seen if Emaar MGF will pull it off this time, especially with the ‘modest’ valuations it has put to its business, compared to the last attempt. In February last year, the company had proposed to sell 10.4 per cent of equity at an aggressive Rs 6,462 crore.
Markets have re-rated the real estate sector. In December 2007, the market participants were so bullish on the sector that DLF’s stock touched Rs 1,073.8 in December 2008 on the Bombay Stock Exchange. This was five months after it listed on stock exchanges at around Rs 570. The company is currently trading even below the issue price at Rs 385.30 a share.
Things have improved for the property sector since then, but only just. Valuations have moved south globally and there are enough experts who see red whenever prices go up a bit.
So, Gupta is trying hard to convince prospective investors but, like any other real estate developer, has a tough task ahead. Property sales saw their lowest levels during the September 2008-May 2009 period, after global economic slowdown forced buyers to postpone home buys to save cash. This led to slower growth and project delays impacting the profitability of companies in the sector.
Emaar MGF reported losses, too. The net loss before tax for FY 2009 was Rs 166.3 crore, says the latest draft red herring prospectus (DRHP) filed by the company. The company also saw many of its 29 projects getting delayed. For instance, the project named The Views in Mohali was supposed to be completed by this financial year, by the previous DRHP. It is now postponed to 2011-1012, a delay of over a year.
The job loss and economic slowdown in the country also saw buyers cancelling bookings in Emaar MGF’s premium projects. Mohali Hills, where the developer is selling plots, witnessed the number of units sold coming down to 1,681 as on August 31, 2009 from 1,723 as on August 31, 2007, with the difference reflecting cancellations. The company had started construction on this site in 2006-07.
This trend is seen across all sectors of real estate. These include residential projects at Gurgaon and Chennai. The completion date for their only ongoing retail project, The Central Plaza, in Mohali Hills, has been extended to the next financial year from the current one, according to the new DRHP.
The company was developing IT office spaces in various cities such as Gurgaon, Chennai and Hyderabad, said the earlier DRHP. Projects in the latter two cities are excluded from the recent DRHP. The Gurgaon IT project is now split in three commercial spaces, with IT occupying only 4.2 acres as compared to 15 acres earlier.
To adjust to the new market demands, the company has started making changes to its projects. Just like other large developers ventured into affordable housing, Emaar MGF resized its new launches to make these more affordable—Emerald Hills and Emerald Estates in Gurgaon, for instance. Sources said this strategy has started paying and the company has seen sales picking up.
But the biggest concern for investors putting money in the realtor’s IPO is the debt of Rs 5,807.8 crore. The company’s debt-to-equity ratio is 1.2:1. If the IPO goes through this time, it plans to pay off Rs 1,972.1 crore of debt from the Rs 3,850 crore it will garner. This will take care of 46 per cent of the loan the company had taken till March this year.
It remains to be seen if Emaar MGF will pull it off this time, especially with the ‘modest’ valuations it has put to its business, compared to the last attempt. In February last year, the company had proposed to sell 10.4 per cent of equity at an aggressive Rs 6,462 crore.
Markets have re-rated the real estate sector. In December 2007, the market participants were so bullish on the sector that DLF’s stock touched Rs 1,073.8 in December 2008 on the Bombay Stock Exchange. This was five months after it listed on stock exchanges at around Rs 570. The company is currently trading even below the issue price at Rs 385.30 a share.
Tuesday, November 24, 2009
onkar s kanwar
Onkar S. Kanwar has been Joint Managing Director of Apollo Tyres Ltd. at Artemis Health Sciences Pvt Ltd. since January 2006 and serves as its Chairman. Mr. Kanwar serves as Chairman of the Board and Chief Executive Officer of Premier Tyres Ltd. He served as Managing Director, Chairman of the Board and Vice Chairman of Apollo Tyres Ltd. A prominent leader in the Indian Industry, He has successfully led Apollo Tyres Ltd. for more than 27 years now. He is also a member ... of the executive committee of FICCI. Mr. Kanwar served as Chairman of the Board of UFO India Limited. He served as Vice Chairman of the International Chamber of Commerce. He serves as Director with the Export Credit Guarantee Corporation of India, a Director with the Kerala State Industrial Corporation. He served as a Director of UFO India Limited. Mr. Kanwar is a Graduate in Science and Administration from the University of California
BY
JUNAID RAZA NOORI KHAN
PGDM 3rd SEM
SEC-B
BY
JUNAID RAZA NOORI KHAN
PGDM 3rd SEM
SEC-B
sulajja motwani
Sulajja Firodia Motwani is the Joint Managing Director of Kinetic Engineering Ltd. She is also a Director of Kinetic Motor Company Limited and Kinetic Marketing Services Limited. She is responsible for the group's overall business strategy, sales and marketing, and business development activities.
Known for her bold business moves, Sulajja has played a key role in transforming Kinetic Group from a niche moped manufacturer into a manufacturer of a full range of two wheelers - from mopeds, scooters to motorcycles and in expanding the group's operations to new businesses. This was brought about through a new business and marketing strategy to make the company fully customer and market driven, to launch new models in all segments and an aggressive business acquisition strategy. Sulajja has played a key role in designing and executing the aggressive marketing plans of the company. Kinetic has recently struck an important alliance with renowned Italian company, Italjet Moto. Through this acquisition, the group has acquired full rights and technology to launch a wide range of highly advanced and futuristic range of seven new scooter models in India. Kinetic has also joined hands with Hyosung Motors of South Korea and has brought to India the most coveted Kinetic Aquila and Comet, India's most desirable motorcycles. Kinetic Group's future plans include an aggressive growth not only in two wheelers, but also in exports, auto components and engineering design services. Sulajja plays a key role in steering this business strategy and in its implementation across group companies.
Sulajja has received numerous awards for her achievements and has been invited to speak at a large number of forums. She was featured as a business \"Face of the Millennium\" by leading magazine India Today; and was voted among the top 25 business leaders of the next century in a poll of industrialists conducted by Fortune India. Sulajja was also awarded the Society Young Achiever's Award for Business for the year 2002 and won the 2003 award for excellence as a top woman CEO from the Institute of Marketing and Management. She has won the Young Super Achiever Award by Business Today for year 2003. Most notably, she was selected by the World Economic Forum as a \"Global Leader of Tomorrow\" in 2002.
Before joining Kinetic, Sulajja worked at the renowned investment analytics company, BARRA International, based in California for 4 years. She also set up BARRA's Indian operations when she returned to India. Sulajja has a track record of academic excellence; she was a merit list ranker for SSC examinations, Maharashtra state topper for HSC examinations, and graduated with the 2nd rank in Pune University for her undergraduate degree. She pursued her higher studies in USA and holds an MBA from the prestigious Carnegie Mellon University at Pittsburgh. Her hobbies include traveling, outdoor sports like skiing & scuba diving and spending time with her 5-year-old son Sidhant. She is also a fitness enthusiast and has been a national level badminton playe
BY
SMRITI SRIVASTAVA
SEC-A PGDM3rdsem
Known for her bold business moves, Sulajja has played a key role in transforming Kinetic Group from a niche moped manufacturer into a manufacturer of a full range of two wheelers - from mopeds, scooters to motorcycles and in expanding the group's operations to new businesses. This was brought about through a new business and marketing strategy to make the company fully customer and market driven, to launch new models in all segments and an aggressive business acquisition strategy. Sulajja has played a key role in designing and executing the aggressive marketing plans of the company. Kinetic has recently struck an important alliance with renowned Italian company, Italjet Moto. Through this acquisition, the group has acquired full rights and technology to launch a wide range of highly advanced and futuristic range of seven new scooter models in India. Kinetic has also joined hands with Hyosung Motors of South Korea and has brought to India the most coveted Kinetic Aquila and Comet, India's most desirable motorcycles. Kinetic Group's future plans include an aggressive growth not only in two wheelers, but also in exports, auto components and engineering design services. Sulajja plays a key role in steering this business strategy and in its implementation across group companies.
Sulajja has received numerous awards for her achievements and has been invited to speak at a large number of forums. She was featured as a business \"Face of the Millennium\" by leading magazine India Today; and was voted among the top 25 business leaders of the next century in a poll of industrialists conducted by Fortune India. Sulajja was also awarded the Society Young Achiever's Award for Business for the year 2002 and won the 2003 award for excellence as a top woman CEO from the Institute of Marketing and Management. She has won the Young Super Achiever Award by Business Today for year 2003. Most notably, she was selected by the World Economic Forum as a \"Global Leader of Tomorrow\" in 2002.
Before joining Kinetic, Sulajja worked at the renowned investment analytics company, BARRA International, based in California for 4 years. She also set up BARRA's Indian operations when she returned to India. Sulajja has a track record of academic excellence; she was a merit list ranker for SSC examinations, Maharashtra state topper for HSC examinations, and graduated with the 2nd rank in Pune University for her undergraduate degree. She pursued her higher studies in USA and holds an MBA from the prestigious Carnegie Mellon University at Pittsburgh. Her hobbies include traveling, outdoor sports like skiing & scuba diving and spending time with her 5-year-old son Sidhant. She is also a fitness enthusiast and has been a national level badminton playe
BY
SMRITI SRIVASTAVA
SEC-A PGDM3rdsem
sunil mittal profile
Achievement: Chairman and Managing Director of Bharti Group, India's largest GSM-based mobile phone service provider; IT Man of the Year Award 2002 from Dataquest and CEO Of the Year, 2002 Award from World HRD Congress.
Sunil Mittal can be called as originator of cellular phone revolution in India. He is the founder, Chairman and Managing Director of Bharti Group and runs India's largest GSM-based mobile phone service.
Sunil Bharti Mittal's father was an M.P. Sunil did not followed his father's footsteps. After graduating from Punjab University in 1970s, he set up a small bicycle business in Ludhiana in partnership with his friend. By 1979, Sunil Mittal realized that his ambitions could not be fulfilled in Ludhiana, so he moved out to Mumbai from Ludhiana.
He spent a few years in Mumbai and in 1982, Sunil Mittal started a full-fledged business selling portable generators imported from Japan. This gave him a chance to acquaint himself with the nitty-gritty's of marketing and advertising. His business was running smoothly but later on the government banned the import of generators as two Indian companies were awarded licenses to manufacture generators locally.
In 1986, Sunil Bharti Mittal incorporated Bharti Telecom Limited (BTL) and entered into a technical tie up with Siemens AG of Germany for manufacture of electronic push button phones. Gradually he expanded his business and by early 1990s, Sunil Mittal was making fax machines, cordless phones and other telecom gear.
In 1992, when the Indian government was awarding licenses for mobile phone services for the first time, Sunil Mittal clinched Delhi cellular license in collaboration with French telecom group Vivendi. In 1995, Sunil Mittal founded Bharti Cellular Limited (BCL) to offer cellular services under the brand name AirTel. Soon, Bharti became the first telecom company to cross the 2-million mobile subscriber mark. Bharti Cellular Limited also rolled out India's first private national as well as international long-distance service under the brand name IndiaOne. In 2001, BCL entered into a joint venture with Singapore Telecom International for a $650-million submarine cable project, India's first ever undersea cable link connecting Chennai in India and Singapore.
Today, Sunil Mittal runs a successful empire with a market capitalization of approximately $ 2 billion and employing over 5,000 people. He has been honored with several awards. Sunil Bharti Mittal was chosen as one of the top entrepreneurs in the world for the year 2000 and amongst 'Stars Of Asia', by 'Business Week'. He also received IT Man of the Year Award 2002 from Dataquest and CEO Of the Year, 2002 Award (World HRD Congress).
shalini pgdm(3rd sem)
Sunil Mittal can be called as originator of cellular phone revolution in India. He is the founder, Chairman and Managing Director of Bharti Group and runs India's largest GSM-based mobile phone service.
Sunil Bharti Mittal's father was an M.P. Sunil did not followed his father's footsteps. After graduating from Punjab University in 1970s, he set up a small bicycle business in Ludhiana in partnership with his friend. By 1979, Sunil Mittal realized that his ambitions could not be fulfilled in Ludhiana, so he moved out to Mumbai from Ludhiana.
He spent a few years in Mumbai and in 1982, Sunil Mittal started a full-fledged business selling portable generators imported from Japan. This gave him a chance to acquaint himself with the nitty-gritty's of marketing and advertising. His business was running smoothly but later on the government banned the import of generators as two Indian companies were awarded licenses to manufacture generators locally.
In 1986, Sunil Bharti Mittal incorporated Bharti Telecom Limited (BTL) and entered into a technical tie up with Siemens AG of Germany for manufacture of electronic push button phones. Gradually he expanded his business and by early 1990s, Sunil Mittal was making fax machines, cordless phones and other telecom gear.
In 1992, when the Indian government was awarding licenses for mobile phone services for the first time, Sunil Mittal clinched Delhi cellular license in collaboration with French telecom group Vivendi. In 1995, Sunil Mittal founded Bharti Cellular Limited (BCL) to offer cellular services under the brand name AirTel. Soon, Bharti became the first telecom company to cross the 2-million mobile subscriber mark. Bharti Cellular Limited also rolled out India's first private national as well as international long-distance service under the brand name IndiaOne. In 2001, BCL entered into a joint venture with Singapore Telecom International for a $650-million submarine cable project, India's first ever undersea cable link connecting Chennai in India and Singapore.
Today, Sunil Mittal runs a successful empire with a market capitalization of approximately $ 2 billion and employing over 5,000 people. He has been honored with several awards. Sunil Bharti Mittal was chosen as one of the top entrepreneurs in the world for the year 2000 and amongst 'Stars Of Asia', by 'Business Week'. He also received IT Man of the Year Award 2002 from Dataquest and CEO Of the Year, 2002 Award (World HRD Congress).
shalini pgdm(3rd sem)
Shubhashis Gangopadhyay
Shubhashis Gangopadhyay
Managing Trustee & Research Director
India Development Foundation
Shubhashis Gangopadhyay is Managing Trustee and Research Director of India Development Foundation. Till December 2008, he was Advisor to the Finance Minister, Government of India, and was the youngest ever Secretary in the government. He got his PhD in Economics from Cornell University, USA, in 1983, his Bachelor’s degree from Presidency College, Kolkata in 1978 and did his schooling in Calcutta Boys’ School. He joined the Indian Statistical Institute as a lecturer in 1983 and was promoted to full professor in 1991. He took over as founder-director of IDF, an independent research organization, in 2002. He was awarded an honorary doctorate by the University of Gothenburg, Sweden, in October 2006.
Currently, he is the Chief Editor of the Journal of Emerging Market Finance (Sage Publications), and an associate editor of the Journal of Financial Stability (Elsevier). He is a member of the South Asia Chief Economist’s Advisory Council of the World Bank. He is also the founder-President of the Society for the Promotion of Game Theory and its Applications. He has published widely in international journals, and has a number of books, in economics and finance.
He has served on the Board of the Industrial Reconstruction Bank of India (IRBI) and as a member of the Reserve Bank of India’s (RBI) Advisory Group on Bankruptcy Law. He has been a consultant to the Ministries of Finance, Planning, Industry, Rural Development, etc. He has led important government research projects like the leading indicator of economic activity, the impact of steel de-control on SAIL and the use of the Hajira-Bijapur-Jagdishpur gas pipe-line. As a member of the PSFT Task Force on the plantation sector, he has developed a new financial instrument for reducing the impact of price volatility on plantation growers.
He has worked closely with industry both in India and abroad. He has lectured widely to foreign industry delegations coming to India, attended their world meets as a resource person and has held closed-door, one-on-one discussions with their management teams.
He has a rich experience of advising students at the PhD level and has a number of students both in India and abroad.
--------------------------------------------------------------------------------
Promod Haque
Managing Partner
Norwest Venture Partners
Promod has 19 years of experience in the venture capital industry and currently serves as managing partner at Norwest Venture Partners. He has been ranked as a top dealmaker on the annual Forbes Midas List for the past nine years, and in 2004, Forbes named him as the #1 venture capitalist based on performance over the last decade. In 2006, Promod was presented with a Global Leadership award from NASSCOM.
Promod focuses on investments in semiconductor and components, systems, software and services. He was an early investor and a board member of Cerent (acquired by Cisco), Siara Systems (acquired by Redback Networks), OnDisplay (acquired by Vignette), Winphoria Networks (acquired by Motorola) and Extreme Networks (Nasdaq: EXTR).
Prior to Norwest Venture Partners, Promod spent 18 years in various operational roles ranging from product development, marketing, Chief Operating Officer and Chief Executive Officer at various public and private companies - Siemens International, Thorn EMI, Emergent Technologies and Dimensional Medicine, Inc.
He received a bachelor of science in electrical engineering from the University of Delhi, India. He holds a Ph.D. in electrical engineering from Northwestern University and an MBA from Northwestern's Kellogg Graduate School of Management, where he serves on the advisory board.
Junaid Raza
PGDM-B
3rd Sem
Managing Trustee & Research Director
India Development Foundation
Shubhashis Gangopadhyay is Managing Trustee and Research Director of India Development Foundation. Till December 2008, he was Advisor to the Finance Minister, Government of India, and was the youngest ever Secretary in the government. He got his PhD in Economics from Cornell University, USA, in 1983, his Bachelor’s degree from Presidency College, Kolkata in 1978 and did his schooling in Calcutta Boys’ School. He joined the Indian Statistical Institute as a lecturer in 1983 and was promoted to full professor in 1991. He took over as founder-director of IDF, an independent research organization, in 2002. He was awarded an honorary doctorate by the University of Gothenburg, Sweden, in October 2006.
Currently, he is the Chief Editor of the Journal of Emerging Market Finance (Sage Publications), and an associate editor of the Journal of Financial Stability (Elsevier). He is a member of the South Asia Chief Economist’s Advisory Council of the World Bank. He is also the founder-President of the Society for the Promotion of Game Theory and its Applications. He has published widely in international journals, and has a number of books, in economics and finance.
He has served on the Board of the Industrial Reconstruction Bank of India (IRBI) and as a member of the Reserve Bank of India’s (RBI) Advisory Group on Bankruptcy Law. He has been a consultant to the Ministries of Finance, Planning, Industry, Rural Development, etc. He has led important government research projects like the leading indicator of economic activity, the impact of steel de-control on SAIL and the use of the Hajira-Bijapur-Jagdishpur gas pipe-line. As a member of the PSFT Task Force on the plantation sector, he has developed a new financial instrument for reducing the impact of price volatility on plantation growers.
He has worked closely with industry both in India and abroad. He has lectured widely to foreign industry delegations coming to India, attended their world meets as a resource person and has held closed-door, one-on-one discussions with their management teams.
He has a rich experience of advising students at the PhD level and has a number of students both in India and abroad.
--------------------------------------------------------------------------------
Promod Haque
Managing Partner
Norwest Venture Partners
Promod has 19 years of experience in the venture capital industry and currently serves as managing partner at Norwest Venture Partners. He has been ranked as a top dealmaker on the annual Forbes Midas List for the past nine years, and in 2004, Forbes named him as the #1 venture capitalist based on performance over the last decade. In 2006, Promod was presented with a Global Leadership award from NASSCOM.
Promod focuses on investments in semiconductor and components, systems, software and services. He was an early investor and a board member of Cerent (acquired by Cisco), Siara Systems (acquired by Redback Networks), OnDisplay (acquired by Vignette), Winphoria Networks (acquired by Motorola) and Extreme Networks (Nasdaq: EXTR).
Prior to Norwest Venture Partners, Promod spent 18 years in various operational roles ranging from product development, marketing, Chief Operating Officer and Chief Executive Officer at various public and private companies - Siemens International, Thorn EMI, Emergent Technologies and Dimensional Medicine, Inc.
He received a bachelor of science in electrical engineering from the University of Delhi, India. He holds a Ph.D. in electrical engineering from Northwestern University and an MBA from Northwestern's Kellogg Graduate School of Management, where he serves on the advisory board.
Junaid Raza
PGDM-B
3rd Sem
Biography of Ratan Jindal
Ratan Jindal
Vice Chairman, Managing Director and Member of Share Transfer Committee, JSL Ltd.
Age:48
This person is connected to 29 board members in 3 different organizations across 4 different industries.
BACKGROUND
Ratan Jindal has been Managing Director of Jindal Stainless Limited since July 2003. Mr. Jindal serves as the Managing Director of FZE. He served as Managing Director of Nalwa Sons Investments Ltd. (formerly Jindal Strips Ltd.) since 1989. He has been Vice Chairman of JSL Ltd. (formerly, Jindal Stainless Limited) since July 2003. Mr. Jindal serves as Non-Executive Director of Jindal Steel & Power Limited. He serves as a Directors of Shalimar Paints Limited, Sanibel Tea ... Ltd., Jindal Stainless UK Limited, Jindal Stainless Mauritius Limited, Massillon Stainless Inc., USA, Nalwa Farms Pvt. Ltd. He serves as a Member of Board of the International Stainless Steel Forum. Mr. Jindal served as a Director of Nalwa Sons Investments Ltd (formerly Jindal Strips Ltd) from1979 to November 18, 2005. He is a commerce graduate and has attended the Advanced Management Programme at Wharton Business School, U.S.A.
By,
Anand Kumar Pandey
Pgdm sec-a
3rd sem
Vice Chairman, Managing Director and Member of Share Transfer Committee, JSL Ltd.
Age:48
This person is connected to 29 board members in 3 different organizations across 4 different industries.
BACKGROUND
Ratan Jindal has been Managing Director of Jindal Stainless Limited since July 2003. Mr. Jindal serves as the Managing Director of FZE. He served as Managing Director of Nalwa Sons Investments Ltd. (formerly Jindal Strips Ltd.) since 1989. He has been Vice Chairman of JSL Ltd. (formerly, Jindal Stainless Limited) since July 2003. Mr. Jindal serves as Non-Executive Director of Jindal Steel & Power Limited. He serves as a Directors of Shalimar Paints Limited, Sanibel Tea ... Ltd., Jindal Stainless UK Limited, Jindal Stainless Mauritius Limited, Massillon Stainless Inc., USA, Nalwa Farms Pvt. Ltd. He serves as a Member of Board of the International Stainless Steel Forum. Mr. Jindal served as a Director of Nalwa Sons Investments Ltd (formerly Jindal Strips Ltd) from1979 to November 18, 2005. He is a commerce graduate and has attended the Advanced Management Programme at Wharton Business School, U.S.A.
By,
Anand Kumar Pandey
Pgdm sec-a
3rd sem
Biography of Shinzo Nakanishi
Shinzo Nakanishi
Senior Managing Executive Officer and Director, Suzuki Motor Corp. 4444
Age:62
This person is connected to 44 board members in 4 different organizations across 4 different industries.
BACKGROUND
Shinzo Nakanishi serves as Senior Managing Executive Officer and Executive General Manager of Global Marketing at Suzuki Motor Co. Mr. Nakanishi has been Managing Director and Chief Executive Officer of Maruti Suzuki India Ltd (MSIL) since December 18, 2007. Mr. Nakanishi joined Suzuki Motor Co., Ltd. in April 1971. He joined at Magyar Suzuki, Hungary in June 1993. He served as Managing Director of Suzuki Motor Corp. since June 2003. He served as Senior Managing Director ... of Suzuki Motor Corp. since June 2004. He served as an Executive General Manager of Overseas Automobile Marketing at Suzuki Motor Corp. since April 2003. He served as the Chairman of the Board of Maruti Suzuki India Ltd. (Formerly Maruthi Udyog Ltd.), from May 2002 to October 2007. Mr. Nakanishi serves as a Non Executive Director of Maruti Suzuki India Ltd. and Director of Suzuki Motor Corp. He has been a Director of Subros since March 25, 2008. He has been a Director of Asahi India Glass Ltd., since January 1, 2008. He serves as a Director of Suzuki Powertrain India Ltd., Pak Suzuki Motor Company Ltd. He has served as Director of Overseas Automobile Marketing st Suzuki Motor Corp. since June 1999. Mr. Nakanishi holds a law graduate from Faculty of Law, Doshisha University.
By,
khushboo
Pgdm sec-a
3rd sem
Senior Managing Executive Officer and Director, Suzuki Motor Corp. 4444
Age:62
This person is connected to 44 board members in 4 different organizations across 4 different industries.
BACKGROUND
Shinzo Nakanishi serves as Senior Managing Executive Officer and Executive General Manager of Global Marketing at Suzuki Motor Co. Mr. Nakanishi has been Managing Director and Chief Executive Officer of Maruti Suzuki India Ltd (MSIL) since December 18, 2007. Mr. Nakanishi joined Suzuki Motor Co., Ltd. in April 1971. He joined at Magyar Suzuki, Hungary in June 1993. He served as Managing Director of Suzuki Motor Corp. since June 2003. He served as Senior Managing Director ... of Suzuki Motor Corp. since June 2004. He served as an Executive General Manager of Overseas Automobile Marketing at Suzuki Motor Corp. since April 2003. He served as the Chairman of the Board of Maruti Suzuki India Ltd. (Formerly Maruthi Udyog Ltd.), from May 2002 to October 2007. Mr. Nakanishi serves as a Non Executive Director of Maruti Suzuki India Ltd. and Director of Suzuki Motor Corp. He has been a Director of Subros since March 25, 2008. He has been a Director of Asahi India Glass Ltd., since January 1, 2008. He serves as a Director of Suzuki Powertrain India Ltd., Pak Suzuki Motor Company Ltd. He has served as Director of Overseas Automobile Marketing st Suzuki Motor Corp. since June 1999. Mr. Nakanishi holds a law graduate from Faculty of Law, Doshisha University.
By,
khushboo
Pgdm sec-a
3rd sem
Emaar grapples with worries on delays, debt
This is Gupta’s second attempt in two years to tap the IPO route. His first attempt in February last year failed due to lack of investor interest.
Things have improved for the property sector since then, but only just. Valuations have moved south globally and there are enough experts who see red whenever prices go up a bit.
So, Gupta is trying hard to convince prospective investors but, like any other real estate developer, has a tough task ahead. Property sales saw their lowest levels during the September 2008-May 2009 period, after global economic slowdown forced buyers to postpone home buys to save cash. This led to slower growth and project delays impacting the profitability of companies in the sector.
Emaar MGF reported losses, too. The net loss before tax for FY 2009 was Rs 166.3 crore, says the latest draft red herring prospectus (DRHP) filed by the company. The company also saw many of its 29 projects getting delayed. For instance, the project named The Views in Mohali was supposed to be completed by this financial year, by the previous DRHP. It is now postponed to 2011-1012, a delay of over a year.
The job loss and economic slowdown in the country also saw buyers cancelling bookings in Emaar MGF’s premium projects. Mohali Hills, where the developer is selling plots, witnessed the number of units sold coming down to 1,681 as on August 31, 2009 from 1,723 as on August 31, 2007, with the difference reflecting cancellations. The company had started construction on this site in 2006-07.
This trend is seen across all sectors of real estate. These include residential projects at Gurgaon and Chennai. The completion date for their only ongoing retail project, The Central Plaza, in Mohali Hills, has been extended to the next financial year from the current one, according to the new DRHP.
The company was developing IT office spaces in various cities such as Gurgaon, Chennai and Hyderabad, said the earlier DRHP. Projects in the latter two cities are excluded from the recent DRHP. The Gurgaon IT project is now split in three commercial spaces, with IT occupying only 4.2 acres as compared to 15 acres earlier.
To adjust to the new market demands, the company has started making changes to its projects. Just like other large developers ventured into affordable housing, Emaar MGF resized its new launches to make these more affordable—Emerald Hills and Emerald Estates in Gurgaon, for instance. Sources said this strategy has started paying and the company has seen sales picking up.
But the biggest concern for investors putting money in the realtor’s IPO is the debt of Rs 5,807.8 crore. The company’s debt-to-equity ratio is 1.2:1. If the IPO goes through this time, it plans to pay off Rs 1,972.1 crore of debt from the Rs 3,850 crore it will garner. This will take care of 46 per cent of the loan the company had taken till March this year.
It remains to be seen if Emaar MGF will pull it off this time, especially with the ‘modest’ valuations it has put to its business, compared to the last attempt. In February last year, the company had proposed to sell 10.4 per cent of equity at an aggressive Rs 6,462 crore.
Markets have re-rated the real estate sector. In December 2007, the market participants were so bullish on the sector that DLF’s stock touched Rs 1,073.8 in December 2008 on the Bombay Stock Exchange. This was five months after it listed on stock exchanges at around Rs 570. The company is currently trading even below the issue price at Rs 385.30 a share.
Things have improved for the property sector since then, but only just. Valuations have moved south globally and there are enough experts who see red whenever prices go up a bit.
So, Gupta is trying hard to convince prospective investors but, like any other real estate developer, has a tough task ahead. Property sales saw their lowest levels during the September 2008-May 2009 period, after global economic slowdown forced buyers to postpone home buys to save cash. This led to slower growth and project delays impacting the profitability of companies in the sector.
Emaar MGF reported losses, too. The net loss before tax for FY 2009 was Rs 166.3 crore, says the latest draft red herring prospectus (DRHP) filed by the company. The company also saw many of its 29 projects getting delayed. For instance, the project named The Views in Mohali was supposed to be completed by this financial year, by the previous DRHP. It is now postponed to 2011-1012, a delay of over a year.
The job loss and economic slowdown in the country also saw buyers cancelling bookings in Emaar MGF’s premium projects. Mohali Hills, where the developer is selling plots, witnessed the number of units sold coming down to 1,681 as on August 31, 2009 from 1,723 as on August 31, 2007, with the difference reflecting cancellations. The company had started construction on this site in 2006-07.
This trend is seen across all sectors of real estate. These include residential projects at Gurgaon and Chennai. The completion date for their only ongoing retail project, The Central Plaza, in Mohali Hills, has been extended to the next financial year from the current one, according to the new DRHP.
The company was developing IT office spaces in various cities such as Gurgaon, Chennai and Hyderabad, said the earlier DRHP. Projects in the latter two cities are excluded from the recent DRHP. The Gurgaon IT project is now split in three commercial spaces, with IT occupying only 4.2 acres as compared to 15 acres earlier.
To adjust to the new market demands, the company has started making changes to its projects. Just like other large developers ventured into affordable housing, Emaar MGF resized its new launches to make these more affordable—Emerald Hills and Emerald Estates in Gurgaon, for instance. Sources said this strategy has started paying and the company has seen sales picking up.
But the biggest concern for investors putting money in the realtor’s IPO is the debt of Rs 5,807.8 crore. The company’s debt-to-equity ratio is 1.2:1. If the IPO goes through this time, it plans to pay off Rs 1,972.1 crore of debt from the Rs 3,850 crore it will garner. This will take care of 46 per cent of the loan the company had taken till March this year.
It remains to be seen if Emaar MGF will pull it off this time, especially with the ‘modest’ valuations it has put to its business, compared to the last attempt. In February last year, the company had proposed to sell 10.4 per cent of equity at an aggressive Rs 6,462 crore.
Markets have re-rated the real estate sector. In December 2007, the market participants were so bullish on the sector that DLF’s stock touched Rs 1,073.8 in December 2008 on the Bombay Stock Exchange. This was five months after it listed on stock exchanges at around Rs 570. The company is currently trading even below the issue price at Rs 385.30 a share.
King Gillette
by Ron Kurtus (revised 13 May 2005)
The Gillette disposable razor was a unique invention that revolutionized more than the shaving industry. A salesman, King Gillette, invented the disposable razor and formed a company to sell those razors. His invention and marketing techniques created business concepts that are still used today.
Questions you may have include:
How did Gillette create his invention?
What was the business concept?
What lessons can be learned from his life?
This lesson will answer those questions. There is a mini-quiz near the end of the lesson.
Early life - birth to age 17
King Camp Gillette was born in 1855 in the small town of Fond du Lac in central Wisconsin. His parents were innovators, who were always seeking to do things better. His father worked at various inventions and his mother created numerous recipes through experimentation.
In 1859, at age four, his family moved to Chicago, Illinois, where his father started up a hardware business.
In 1871, when he was 16, the great Chicago fire destroyed their business. The Gillette family then moved to New York City. His father became a patent agent. King's father often described the various inventions that came across his desk. He also continued to dabble in his own creations. The idea of inventing something that would make him rich inspired King.
The following year King left school to begin working for a living as a traveling salesman.
Middle years - 18 to age 48
Gillette worked for years as salesman, often trying his hand at various inventions to improve the products he sold.
In 1887, when he was 32, King's mother published the famous White House Cookbook, which was still in print 100 years later.
By 1890, he had accumulated four patents, but none of the inventions gathered much interest. Meanwhile, his parents seemed so much more successful than him.
Became bitter
In 1894, at the age of 39, Gillette had become bitter about society--perhaps due to his own shortcomings and apparent failure to become successful in life. He wrote an anti-capitalist book called "The Human Drift" in which he criticized business practices and the rich. In the book, he stated that competition was the root of all evil and proposed a form of utopian, socialistic society that was pollution free. He hoped to replace the sprawling cities that the industrial revolution had created with beehive type communities.
Gets advice
Then the following year in 1895, at the age of 40, Gillette was back to his roots in Fond du Lac, Wisconsin, working as a salesman for Crown Cork & Seal Co. The owner of the company had invented the cork-lined bottle cap. He knew Gillette wanted to be a successful inventor, so he gave the advice to invent something people use and throw away. This thought stuck in the back of Gillette's mind.
Gets great idea
Shortly afterwards, as he was ready to shave before going to work, King became irritated that his straight-edge razor was dull and would no longer cut. It was so worn out that he could no longer sharpen it. The straight-edge razor was also called the "cut-throat razor" because it was dangerous enough to cut a man's throat. Salesmen traveling in swaying trains had to be especially careful when trying to shave.
Gillette suddenly had a flash of inspiration of a razor that would not need stropping and honing to sharpen it. He had an idea of disposable razor blades that were sharpened by the manufacturer and thrown away when dull. It would also be a razor that was safe to use, as opposed to the dangerous straight-edge razor.
Perfects invention
Excited by his idea, he went to the Massachusetts Institute of Technology (MIT) as asked their metallurgists if it were possible to make a small piece of steel that would hold its sharp edge and be affordable to throw away. They said it was impossible.
Undaunted, he spent evenings working on his idea. He then partnered with inventor William Emery Nickerson to perfect the method. Ironically, Nickerson had been educated at MIT. It took them 5 years and much of their own money to finally find someone who could provide a machine that would automatically sharpen thin sheets of metal, so they could be used to shave. Gillette was now 45 years old.
Starts company
They eventually perfected the double-edged safety razor blade, which fit into a specially designed holder with a handle and an adjustable head. Gillette and Nickerson set up the American Safety Razor Company and got their patent in 1901.
Drawing of original safety razor patent
When Gillette became 48, in 1903, they finally started selling the razors.
Later years - 49 to death at age 77
At first the cost of making the blades was more than the selling price, so they sold at a loss to build up enough business to reduce the manufacturing cost.
Another great idea
Then Gillette had the fantastic idea of giving away his razors for free in order to sell more of his blades. This was part of a massive marketing campaign.
In 1904, he received a patent for the idea of a double-edged razor. He also renamed the company the Gillette Safety Razor Company.
Became millionaire
Competitors tried by-passing the patents and copied many of Gillette's ideas. He then spent an enormous amount of time and money in litigation to protect his rights. In many cases, he simply bought out the competitors.
By the age of 55, in 1910, the Gillette Company dominated the razor business and Gillette was a millionaire. He was also a celebrity, since his face was on every package of razor blades.
Sought utopia
He still didn't change his anti-capitalist views after he had become one himself. Gillette still dreamed of a utopian society, organized by engineers. He tried to get Teddy Roosevelt to become president of his new society and elicited the support of Henry Ford. They both declined.
Lost fortune
The stock market crash of 1929, just about wiped out Gillette's fortune. He was also made powerless in his company by boardroom machinations. He spent the years from age 74 until he died at age 77 in 1932 in an unsuccessful enterprise to extract oil from shale.
GAURAV JAIN
PGDM 1st SEM.
YEAR 2009-11
by Ron Kurtus (revised 13 May 2005)
The Gillette disposable razor was a unique invention that revolutionized more than the shaving industry. A salesman, King Gillette, invented the disposable razor and formed a company to sell those razors. His invention and marketing techniques created business concepts that are still used today.
Questions you may have include:
How did Gillette create his invention?
What was the business concept?
What lessons can be learned from his life?
This lesson will answer those questions. There is a mini-quiz near the end of the lesson.
Early life - birth to age 17
King Camp Gillette was born in 1855 in the small town of Fond du Lac in central Wisconsin. His parents were innovators, who were always seeking to do things better. His father worked at various inventions and his mother created numerous recipes through experimentation.
In 1859, at age four, his family moved to Chicago, Illinois, where his father started up a hardware business.
In 1871, when he was 16, the great Chicago fire destroyed their business. The Gillette family then moved to New York City. His father became a patent agent. King's father often described the various inventions that came across his desk. He also continued to dabble in his own creations. The idea of inventing something that would make him rich inspired King.
The following year King left school to begin working for a living as a traveling salesman.
Middle years - 18 to age 48
Gillette worked for years as salesman, often trying his hand at various inventions to improve the products he sold.
In 1887, when he was 32, King's mother published the famous White House Cookbook, which was still in print 100 years later.
By 1890, he had accumulated four patents, but none of the inventions gathered much interest. Meanwhile, his parents seemed so much more successful than him.
Became bitter
In 1894, at the age of 39, Gillette had become bitter about society--perhaps due to his own shortcomings and apparent failure to become successful in life. He wrote an anti-capitalist book called "The Human Drift" in which he criticized business practices and the rich. In the book, he stated that competition was the root of all evil and proposed a form of utopian, socialistic society that was pollution free. He hoped to replace the sprawling cities that the industrial revolution had created with beehive type communities.
Gets advice
Then the following year in 1895, at the age of 40, Gillette was back to his roots in Fond du Lac, Wisconsin, working as a salesman for Crown Cork & Seal Co. The owner of the company had invented the cork-lined bottle cap. He knew Gillette wanted to be a successful inventor, so he gave the advice to invent something people use and throw away. This thought stuck in the back of Gillette's mind.
Gets great idea
Shortly afterwards, as he was ready to shave before going to work, King became irritated that his straight-edge razor was dull and would no longer cut. It was so worn out that he could no longer sharpen it. The straight-edge razor was also called the "cut-throat razor" because it was dangerous enough to cut a man's throat. Salesmen traveling in swaying trains had to be especially careful when trying to shave.
Gillette suddenly had a flash of inspiration of a razor that would not need stropping and honing to sharpen it. He had an idea of disposable razor blades that were sharpened by the manufacturer and thrown away when dull. It would also be a razor that was safe to use, as opposed to the dangerous straight-edge razor.
Perfects invention
Excited by his idea, he went to the Massachusetts Institute of Technology (MIT) as asked their metallurgists if it were possible to make a small piece of steel that would hold its sharp edge and be affordable to throw away. They said it was impossible.
Undaunted, he spent evenings working on his idea. He then partnered with inventor William Emery Nickerson to perfect the method. Ironically, Nickerson had been educated at MIT. It took them 5 years and much of their own money to finally find someone who could provide a machine that would automatically sharpen thin sheets of metal, so they could be used to shave. Gillette was now 45 years old.
Starts company
They eventually perfected the double-edged safety razor blade, which fit into a specially designed holder with a handle and an adjustable head. Gillette and Nickerson set up the American Safety Razor Company and got their patent in 1901.
Drawing of original safety razor patent
When Gillette became 48, in 1903, they finally started selling the razors.
Later years - 49 to death at age 77
At first the cost of making the blades was more than the selling price, so they sold at a loss to build up enough business to reduce the manufacturing cost.
Another great idea
Then Gillette had the fantastic idea of giving away his razors for free in order to sell more of his blades. This was part of a massive marketing campaign.
In 1904, he received a patent for the idea of a double-edged razor. He also renamed the company the Gillette Safety Razor Company.
Became millionaire
Competitors tried by-passing the patents and copied many of Gillette's ideas. He then spent an enormous amount of time and money in litigation to protect his rights. In many cases, he simply bought out the competitors.
By the age of 55, in 1910, the Gillette Company dominated the razor business and Gillette was a millionaire. He was also a celebrity, since his face was on every package of razor blades.
Sought utopia
He still didn't change his anti-capitalist views after he had become one himself. Gillette still dreamed of a utopian society, organized by engineers. He tried to get Teddy Roosevelt to become president of his new society and elicited the support of Henry Ford. They both declined.
Lost fortune
The stock market crash of 1929, just about wiped out Gillette's fortune. He was also made powerless in his company by boardroom machinations. He spent the years from age 74 until he died at age 77 in 1932 in an unsuccessful enterprise to extract oil from shale.
GAURAV JAIN
PGDM 1st SEM.
YEAR 2009-11
ROLAX
In 1908, Rolex was founded by Mr. Hans Wilsdorf, a German National Citizen. Initially the company was named Wilsdorf & Davis as Wilsdorf founded company together with his brother in law. At the time, mostly pocket watches were produced by Swiss watch manufacturers as manufactures still had difficulty to produce accurate and reliable movements in such small size that they would fit in a wrist watch.
Wilsdorf was a perfectionist who improved the standards for watch making as he did strive for smaller and more accurate movements that transformed style and fashion from larger pocket watches to smaller more practical wristwatches. Aegler, a small swiss company agreed to supply Wilsdorf with movements small enough to be worn on the wrist. Wilsdorf's production included a variety of case designs: casual, formal and sporty.
In 1910, Rolex sent their first movement to the School of Horology in Switzerland. It was awarded the world's first wrist watch chronometer rating. Wilsdorf recognized two major requirements for watches: 1) To keep accurate time, and 2) To be reliable. With the Chronometer Award, 'accuracy' of timekeeping was considered to be under control and Wilsdorf started to work on improving the reliability of his watches. One of the main problems at the time was, that dust and moisture would enter in the watch case and progressively damage in movement. To solve, one would need to develop a completely dust and waterproof watch case. Dust and water would enter watch cases via the casebook and via the crown. Wilsdorf developed a screw crown and casebook mechanism that revolutionized the watch industry.
The first waterproof watch was cleverly advertised around the world. At the time, the public was rather skeptical if the watch would be really waterproof. However, after seeing a watch in an aquarium in the shop window, many people were convinced. Around the world one could see windows of watch shops with an aquarium and submerged Rolex watches. This campaign created an enormous brand awareness for Rolex. Since then, Rolex has continued to be be at the forefront of the watch making industry. Today, almost every watch manufacturer followed Rolex and offers waterproof watches.
The Rolex Prince, developed in 1928 became a best seller with its dual dial and rectangular case. In 1931 Rolex invented the "Rotor" - a semicircular plate of metal that with gravity, would move freely to wind the watch. Thus, the Rolex "Perpetual" (automatic) movement was born.
MAYANK SRIVASTAVA
PGDM 1st SEM.
YEAR 2009-11
In 1908, Rolex was founded by Mr. Hans Wilsdorf, a German National Citizen. Initially the company was named Wilsdorf & Davis as Wilsdorf founded company together with his brother in law. At the time, mostly pocket watches were produced by Swiss watch manufacturers as manufactures still had difficulty to produce accurate and reliable movements in such small size that they would fit in a wrist watch.
Wilsdorf was a perfectionist who improved the standards for watch making as he did strive for smaller and more accurate movements that transformed style and fashion from larger pocket watches to smaller more practical wristwatches. Aegler, a small swiss company agreed to supply Wilsdorf with movements small enough to be worn on the wrist. Wilsdorf's production included a variety of case designs: casual, formal and sporty.
In 1910, Rolex sent their first movement to the School of Horology in Switzerland. It was awarded the world's first wrist watch chronometer rating. Wilsdorf recognized two major requirements for watches: 1) To keep accurate time, and 2) To be reliable. With the Chronometer Award, 'accuracy' of timekeeping was considered to be under control and Wilsdorf started to work on improving the reliability of his watches. One of the main problems at the time was, that dust and moisture would enter in the watch case and progressively damage in movement. To solve, one would need to develop a completely dust and waterproof watch case. Dust and water would enter watch cases via the casebook and via the crown. Wilsdorf developed a screw crown and casebook mechanism that revolutionized the watch industry.
The first waterproof watch was cleverly advertised around the world. At the time, the public was rather skeptical if the watch would be really waterproof. However, after seeing a watch in an aquarium in the shop window, many people were convinced. Around the world one could see windows of watch shops with an aquarium and submerged Rolex watches. This campaign created an enormous brand awareness for Rolex. Since then, Rolex has continued to be be at the forefront of the watch making industry. Today, almost every watch manufacturer followed Rolex and offers waterproof watches.
The Rolex Prince, developed in 1928 became a best seller with its dual dial and rectangular case. In 1931 Rolex invented the "Rotor" - a semicircular plate of metal that with gravity, would move freely to wind the watch. Thus, the Rolex "Perpetual" (automatic) movement was born.
MAYANK SRIVASTAVA
PGDM 1st SEM.
YEAR 2009-11
Vijaypat Singhania is the chairman emeritus of the Raymond Group of clothing and textiles. and a former Sheriff of Mumbai, from December 19, 2005 to December 18, 2006. A keen aviator, Singhania holds the world record for highest altitude gained travelling in a hot air balloon, notably carried out at the age of 67[1]. Singhania also holds a world record for his solo microlight flight from the UK to India in 1998. Singhania has flight experience of over 5,000 hours. In 1994, he won the gold medal in the Federation Aeronautique Internationale air race covering a distance of 34,000 km spanning 24 days. To mark this occasion he was conferred the rank of Hon. Air Commodore of the Indian Air Force. In 2005, we has awarded the Gold medal of the [Royal Aero Club], and in 2006, Padma Bhushan, the third highest civilian award by the Government of India. In March 2007 he was nominated as Chairman of the Governing Council, IIM Ahmedabad succeeding N.R. Narayana Murthy
BY
junaid raza noori khan
BY
junaid raza noori khan
Monday, November 23, 2009
Indra Nooyi earns 81 times more compensation than Warren Buffett
Indra Nooyi earns 81 times more compensation than Warren Buffett
NEW YORK: Indra Nooyi, the India-origin CEO of beverages major PepsiCo, earns over 81 times more than the world's richest man Warren Buffett in terms of her annual pay packet, according to data compiled by executive search firm Equilar for the New York Times.
Nooyi received an annual compensation to the tune of $14.74 million in 2007 as compared to just $0.18 million drawn by Buffett who heads Berkshire Hathway, which is into life insurance and annuity sales, among others.
Another India-origin CEO Vikram Pandit, who is heading global banking giant Citigroup, takes home a compensation of about 17 times that of Buffet. In 2007, Pandit had an annual compensation of $ 3.16 million.
Further, Rajiv L Gupta, an India-origin CEO heading the speciality chemicals maker Rohm & Haas earns a compensation of $ 7.26 million, nearly 40 per cent higher than that of Buffett.
by GALIB
PGDM 3rd sem
NEW YORK: Indra Nooyi, the India-origin CEO of beverages major PepsiCo, earns over 81 times more than the world's richest man Warren Buffett in terms of her annual pay packet, according to data compiled by executive search firm Equilar for the New York Times.
Nooyi received an annual compensation to the tune of $14.74 million in 2007 as compared to just $0.18 million drawn by Buffett who heads Berkshire Hathway, which is into life insurance and annuity sales, among others.
Another India-origin CEO Vikram Pandit, who is heading global banking giant Citigroup, takes home a compensation of about 17 times that of Buffet. In 2007, Pandit had an annual compensation of $ 3.16 million.
Further, Rajiv L Gupta, an India-origin CEO heading the speciality chemicals maker Rohm & Haas earns a compensation of $ 7.26 million, nearly 40 per cent higher than that of Buffett.
by GALIB
PGDM 3rd sem
Outlook for Indian banks remains negative: Moody’s
MUMBAI: The fundamental credit outlook for the Indian banking system remains negative, having been changed from stable in January 2009, reflecting
the currently challenging economic conditions and the rising level of problem loans, and the resulting adverse implications for asset quality, said Moody's Investors Service in its new Banking System Outlook on India.
Moody's negative outlook for the Indian banking system expresses the rating agency's view on the likely future direction of fundamental credit conditions in the industry over the next 12 to 18 months. It does not represent a projection of rating upgrades versus downgrades.
The Indian banking system remains largely in the hands of the public sector banks (PSBs), with almost 72 per cent of the banking system assets held by majority government-owned banks, while the balance is held by private sector (19.6%) and foreign banks (8.5%).
Moody's main concern about the Indian banking system is the deteriorating asset quality and volume of restructured loans. During fiscal year ending March 2009 (FY2009), the absolute level of gross non-performing loans (NPLs) for all Indian commercial banks increased by 22.5 per cent, compared with 11.9 per cent the year before.
"Although the NPL expansion must be seen in the context of the problems faced by banks globally over the past couple of years, the rapid expansion of retail lending in recent years, combined with the slowdown of the Indian economy, has led to increased delinquency rates, especially for unsecured retail loans. Concurrently, the future performance of restructured loans will determine the evolution of the NPL trend in India," says Nondas Nicolaides, Moody's lead analyst for the Indian banking system.
Indian commercial banks' profitability has been improving in recent years with core income benefiting from the high lending environment and net interest income rising sharply in FY 2009. However, in the short term, Moody's expects some of the rated entities' profits to be severely affected by the central bank's recent requirement that banks should increase their NPL provision cover ratio to at least 70 per cent by September 2010.
For the moment, though, Moody's maintains its positive stance with regard to the rated commercial banks' relatively stable core revenues and sound profitability ratios, which act as a moderately positive rating driver. Moody's contends that Indian banks need to focus on increasing their fee-based income, as this will be the key to improving their quality of earnings and maintaining future profitability. "In particular, more diversified earnings profiles will act as positive drivers for PSBs' bank financial strength ratings," adds Mr Nicolaides.
Current positive rating drivers for all the rated Indian banks, in particular the PSBs, are their robust deposit franchises, ensuring them cheap and stable sources of funding. The PSBs' comfortable liquidity profile on the back of their robust deposit base is also a positive rating driver for Moody's rated banking universe.
Moody's key concern in terms of capitalisation remains the ability of certain PSBs that are close to the 51 per cent government shareholding threshold to raise fresh capital to fund their future growth. Certain rated top-tier PSBs have openly expressed their wish for capital injections by the government, which has recently been granted a $2 billion loan package from the World Bank for this purpose.
The Indian authorities estimate that some PSBs will require injections of around US$4.8 billion during FY2010-FY2011 to maintain capital adequacy ratios of at least 12 per cent and also facilitate credit expansion in the medium term.
In terms of risk positioning, corporate governance is undergoing improvement with the ntroduction of "fit and proper" rules on appointments to boards of directors, but, overall, risk management systems are evolving and have yet to reach the quality of those of international banks.
Nonetheless, Moody's believes that Indian banks' practices are generally appropriate for the risks they take, given that regulatory limits and the banks' generally conservative risk appetites do not expose them to any high or complex risks.
Moody's assesses India as a high support country, which incorporates the history of support for banks in India, especially for PSBs. It also takes into account the willingness and ability of the central bank to resolve problems even with troubled small private sector banks, usually by merging them with larger PSBs
the currently challenging economic conditions and the rising level of problem loans, and the resulting adverse implications for asset quality, said Moody's Investors Service in its new Banking System Outlook on India.
Moody's negative outlook for the Indian banking system expresses the rating agency's view on the likely future direction of fundamental credit conditions in the industry over the next 12 to 18 months. It does not represent a projection of rating upgrades versus downgrades.
The Indian banking system remains largely in the hands of the public sector banks (PSBs), with almost 72 per cent of the banking system assets held by majority government-owned banks, while the balance is held by private sector (19.6%) and foreign banks (8.5%).
Moody's main concern about the Indian banking system is the deteriorating asset quality and volume of restructured loans. During fiscal year ending March 2009 (FY2009), the absolute level of gross non-performing loans (NPLs) for all Indian commercial banks increased by 22.5 per cent, compared with 11.9 per cent the year before.
"Although the NPL expansion must be seen in the context of the problems faced by banks globally over the past couple of years, the rapid expansion of retail lending in recent years, combined with the slowdown of the Indian economy, has led to increased delinquency rates, especially for unsecured retail loans. Concurrently, the future performance of restructured loans will determine the evolution of the NPL trend in India," says Nondas Nicolaides, Moody's lead analyst for the Indian banking system.
Indian commercial banks' profitability has been improving in recent years with core income benefiting from the high lending environment and net interest income rising sharply in FY 2009. However, in the short term, Moody's expects some of the rated entities' profits to be severely affected by the central bank's recent requirement that banks should increase their NPL provision cover ratio to at least 70 per cent by September 2010.
For the moment, though, Moody's maintains its positive stance with regard to the rated commercial banks' relatively stable core revenues and sound profitability ratios, which act as a moderately positive rating driver. Moody's contends that Indian banks need to focus on increasing their fee-based income, as this will be the key to improving their quality of earnings and maintaining future profitability. "In particular, more diversified earnings profiles will act as positive drivers for PSBs' bank financial strength ratings," adds Mr Nicolaides.
Current positive rating drivers for all the rated Indian banks, in particular the PSBs, are their robust deposit franchises, ensuring them cheap and stable sources of funding. The PSBs' comfortable liquidity profile on the back of their robust deposit base is also a positive rating driver for Moody's rated banking universe.
Moody's key concern in terms of capitalisation remains the ability of certain PSBs that are close to the 51 per cent government shareholding threshold to raise fresh capital to fund their future growth. Certain rated top-tier PSBs have openly expressed their wish for capital injections by the government, which has recently been granted a $2 billion loan package from the World Bank for this purpose.
The Indian authorities estimate that some PSBs will require injections of around US$4.8 billion during FY2010-FY2011 to maintain capital adequacy ratios of at least 12 per cent and also facilitate credit expansion in the medium term.
In terms of risk positioning, corporate governance is undergoing improvement with the ntroduction of "fit and proper" rules on appointments to boards of directors, but, overall, risk management systems are evolving and have yet to reach the quality of those of international banks.
Nonetheless, Moody's believes that Indian banks' practices are generally appropriate for the risks they take, given that regulatory limits and the banks' generally conservative risk appetites do not expose them to any high or complex risks.
Moody's assesses India as a high support country, which incorporates the history of support for banks in India, especially for PSBs. It also takes into account the willingness and ability of the central bank to resolve problems even with troubled small private sector banks, usually by merging them with larger PSBs
Fuel-efficiency standards for automobile sector by 2011:Ramesh
The Government is in the finalstage of notifying the fuel efficiency standards forautomobile sector in the country which will be enforced from2011, Environment Minister Jairam Ramesh said today.
Auto special
"We are right now engaged in finalising administrativeformalities on how these standards has to be notified eitherthrough the Energy Conservation Act or the Motor VehiclesAct," Ramesh said at the inaugural session of the two-day 4thEnvironment Friendly Vehicles (EFV) conference here.
aid there is no two views that "we should move to amandatory fuel efficiency standards regime by 2011" as thetransport sector contributes about 15 to 20 per cent of thetotal greenhouse gas emissions in India. How it should be doneis being debated within the government, he said.
At present, transport sector is placed at number threeafter the power and agriculture sector as far as the nationalemissions are concerned.
Auto special
"But the rate at which the automobile sector is growingour own estimations are that by the year 2030 it could accountclose to 25 per cent of our GHG emissions. Hence not onlybecause of the air pollution point of view but also theclimate change point of view, environment-friendlytransportation assume special importance," Ramesh added.
More India business stories
Ramesh said by 2011, it will be mandatory for automobilemanufacturers to sell vehicles with energy-efficiency tags,adding the information on the labels will have to be certifiedby the Bureau of Energy Efficiency (BEE).
Auto special
"We are right now engaged in finalising administrativeformalities on how these standards has to be notified eitherthrough the Energy Conservation Act or the Motor VehiclesAct," Ramesh said at the inaugural session of the two-day 4thEnvironment Friendly Vehicles (EFV) conference here.
aid there is no two views that "we should move to amandatory fuel efficiency standards regime by 2011" as thetransport sector contributes about 15 to 20 per cent of thetotal greenhouse gas emissions in India. How it should be doneis being debated within the government, he said.
At present, transport sector is placed at number threeafter the power and agriculture sector as far as the nationalemissions are concerned.
Auto special
"But the rate at which the automobile sector is growingour own estimations are that by the year 2030 it could accountclose to 25 per cent of our GHG emissions. Hence not onlybecause of the air pollution point of view but also theclimate change point of view, environment-friendlytransportation assume special importance," Ramesh added.
More India business stories
Ramesh said by 2011, it will be mandatory for automobilemanufacturers to sell vehicles with energy-efficiency tags,adding the information on the labels will have to be certifiedby the Bureau of Energy Efficiency (BEE).
strong SEBI’s bold initiative
strong Policy makers, alive to the special needs of SMEs, have tried to simplify the procedural requirements, thereby reducing certain costs. The preferred route has been to create a niche market or a separate exchange for them. The OTC Exchange of India (OTCEI) set up in 1990 was the first exchange to deal exclusively with smaller sized companies. It had as its twin objectives helping smaller companies raise capital in a cost effective manner and providing the investors with an efficient and transparent method of trade. The OTCEI has been a pioneer in introducing screen-based trading and market making. Yet it failed to take off probably because it was ahead of its time.
SEBI is now addressing the issue by exempting companies listed on the SME exchanges from eligibility norms applicable for IPOs. SME companies for the purpose of these new regulations will have a paid-up capital of not more than Rs. 25 crore. They can list on the main boards of NSE/BSE with a minimum paid-up capital of Rs. 10 crore. In what is by far the most noteworthy of the current measures, the minimum IPO application size will be Rs. 1 lakh. This way the regulator hopes to have informed financially sound and well-researched investors with some risk taking ability. Yet the high minimum requirement will shut out many small investors. It will also reduce the number of shareholders. How far that will impact on liquidity of the company’s stock remains to be seen.
Merchant bankers have been given special responsibility in market making (for a minimum period of three years) and underwriting the issue. Guidelines have been laid down for procedures to be followed when the paid-up capital of the listed company exceeds Rs. 25 crore and when an investor’s holding falls below Rs. 1 lakh.
It remains to be seen whether SMEs and the capital market intermediaries will be sufficiently enthused by the new measures.
Will a potential investor who is not averse to capital market investment be attracted to an SME issue in preference to other market instruments?
The decision to permit auctions as an additional method of book building in public issues is welcome. Bidders would be free to bid at any price above the floor price. Allotments will be top down, that is, the highest bidder will first get the shares. Obviously shares will be allotted at different prices. Retail investors will be allotted at the floor price.
Two advantages are claimed for this method. One, it will help the issuer get a higher price for its shares as there is no upper price band. At the same time, retail investors will get shares at the lower floor price. Two, there will be no oversubscription. In traditional book building, because of uncertainty of firm allotments, institutional investors make large applications to stand a better chance of getting allotments. In book-building, shares are allotted proportionately.
On the flip side, the auction method can trigger what is known as a ‘winner’s curse’, a scenario in which certain investors bid recklessly high.
It is also possible that the relatively uninformed investors will be the winners in the auction.
strong Policy makers, alive to the special needs of SMEs, have tried to simplify the procedural requirements, thereby reducing certain costs. The preferred route has been to create a niche market or a separate exchange for them. The OTC Exchange of India (OTCEI) set up in 1990 was the first exchange to deal exclusively with smaller sized companies. It had as its twin objectives helping smaller companies raise capital in a cost effective manner and providing the investors with an efficient and transparent method of trade. The OTCEI has been a pioneer in introducing screen-based trading and market making. Yet it failed to take off probably because it was ahead of its time.
SEBI is now addressing the issue by exempting companies listed on the SME exchanges from eligibility norms applicable for IPOs. SME companies for the purpose of these new regulations will have a paid-up capital of not more than Rs. 25 crore. They can list on the main boards of NSE/BSE with a minimum paid-up capital of Rs. 10 crore. In what is by far the most noteworthy of the current measures, the minimum IPO application size will be Rs. 1 lakh. This way the regulator hopes to have informed financially sound and well-researched investors with some risk taking ability. Yet the high minimum requirement will shut out many small investors. It will also reduce the number of shareholders. How far that will impact on liquidity of the company’s stock remains to be seen.
Merchant bankers have been given special responsibility in market making (for a minimum period of three years) and underwriting the issue. Guidelines have been laid down for procedures to be followed when the paid-up capital of the listed company exceeds Rs. 25 crore and when an investor’s holding falls below Rs. 1 lakh.
It remains to be seen whether SMEs and the capital market intermediaries will be sufficiently enthused by the new measures.
Will a potential investor who is not averse to capital market investment be attracted to an SME issue in preference to other market instruments?
The decision to permit auctions as an additional method of book building in public issues is welcome. Bidders would be free to bid at any price above the floor price. Allotments will be top down, that is, the highest bidder will first get the shares. Obviously shares will be allotted at different prices. Retail investors will be allotted at the floor price.
Two advantages are claimed for this method. One, it will help the issuer get a higher price for its shares as there is no upper price band. At the same time, retail investors will get shares at the lower floor price. Two, there will be no oversubscription. In traditional book building, because of uncertainty of firm allotments, institutional investors make large applications to stand a better chance of getting allotments. In book-building, shares are allotted proportionately.
On the flip side, the auction method can trigger what is known as a ‘winner’s curse’, a scenario in which certain investors bid recklessly high.
It is also possible that the relatively uninformed investors will be the winners in the auction.
Easier capital market access for SMEs
Securities and Exchange Board of India’s move seeks to address the special needs of this vital sector in raising resources
--------------------------------------------------------------------------------
Regulatory moves to address the special concerns of small and medium enterprises are welcome but their success will depend on many factors beyond the SEBI’s control.
--------------------------------------------------------------------------------
A small and medium enterprise unit in Tirupur.
Two recent decisions by the Securities and Exchange Board of India Board have far reaching implications for the capital market. One of these seeks to address the special concerns of small and medium enterprises (SMEs) in raising resources. The second decision allows the auctioning of shares in a public issue subject to certain conditions.
The common problems faced by SMEs in raising resources are well known and begin with the initial public offer itself. As a share offering by a medium enterprise cannot obviously be large, the high issue expenses become particularly burdensome. Certain pre and post issue expenses are fixed in nature and do not vary with the issue size. Whether an IPO is for Rs. 1 crore or Rs. 100 crore, expenses under certain heads such as advertisement, travel or stationery will be almost the same.
In fact a smaller company may have to spend proportionately more on advertising and publicity to gain ‘visibility’. The point is SMEs face relatively high entry barriers to the capital market. Even after listing a smaller company’s stock will more likely be illiquid. Merchant bankers, who generally get their fees as a percentage of the issue size, are naturally less enamoured of the SME business. There have been other reasons as well for policy to aim at facilitating capital market entry for SMEs. Banks will remain the traditional source of funds for them but a stock exchange listing is desirable and sometimes even necessary. Whenever small enterprises receive venture capital or any other form of equity support including from State government organisations a listing helps in the exit of these investors later. A stock market quotation, in any case, is an invaluable benchmark.
Securities and Exchange Board of India’s move seeks to address the special needs of this vital sector in raising resources
--------------------------------------------------------------------------------
Regulatory moves to address the special concerns of small and medium enterprises are welcome but their success will depend on many factors beyond the SEBI’s control.
--------------------------------------------------------------------------------
A small and medium enterprise unit in Tirupur.
Two recent decisions by the Securities and Exchange Board of India Board have far reaching implications for the capital market. One of these seeks to address the special concerns of small and medium enterprises (SMEs) in raising resources. The second decision allows the auctioning of shares in a public issue subject to certain conditions.
The common problems faced by SMEs in raising resources are well known and begin with the initial public offer itself. As a share offering by a medium enterprise cannot obviously be large, the high issue expenses become particularly burdensome. Certain pre and post issue expenses are fixed in nature and do not vary with the issue size. Whether an IPO is for Rs. 1 crore or Rs. 100 crore, expenses under certain heads such as advertisement, travel or stationery will be almost the same.
In fact a smaller company may have to spend proportionately more on advertising and publicity to gain ‘visibility’. The point is SMEs face relatively high entry barriers to the capital market. Even after listing a smaller company’s stock will more likely be illiquid. Merchant bankers, who generally get their fees as a percentage of the issue size, are naturally less enamoured of the SME business. There have been other reasons as well for policy to aim at facilitating capital market entry for SMEs. Banks will remain the traditional source of funds for them but a stock exchange listing is desirable and sometimes even necessary. Whenever small enterprises receive venture capital or any other form of equity support including from State government organisations a listing helps in the exit of these investors later. A stock market quotation, in any case, is an invaluable benchmark.
Jeff Immelt, CEO
“I’m out talking about this company seven days a week, 24 hours a day, with nothing to hide. We’re a 130-year-old company that has a great record of
high-quality leadership and a culture of integrity.”
— Jeff Immelt, Chairman and CEO
Jeffrey R. Immelt is the ninth chairman of GE, a post he has held since September 7, 2001.
Mr. Immelt has held several global leadership positions since coming to GE in 1982, including roles in GE's Plastics, Appliance, and Medical businesses. In 1989 he became an officer of GE and joined the GE Capital Board in 1997. A couple years later, in 2000, Mr. Immelt was appointed president and chief executive officer.
Mr. Immelt has been named one of the "World's Best CEOs" three times by Barron's, and since he began serving as chief executive officer, GE has been named "America's Most Admired Company" in a poll conducted by Fortune magazine and one of "The World's Most Respected Companies" in polls by Barron's and the Financial Times.
Mr. Immelt is also a member of The Business Council, and he is on the board of the New York Federal Reserve Bank.
Mr. Immelt earned a B.A. degree in applied mathematics from Dartmouth College in 1978 and an M.B.A. from Harvard University in 1982. He and his wife have one daughter.
high-quality leadership and a culture of integrity.”
— Jeff Immelt, Chairman and CEO
Jeffrey R. Immelt is the ninth chairman of GE, a post he has held since September 7, 2001.
Mr. Immelt has held several global leadership positions since coming to GE in 1982, including roles in GE's Plastics, Appliance, and Medical businesses. In 1989 he became an officer of GE and joined the GE Capital Board in 1997. A couple years later, in 2000, Mr. Immelt was appointed president and chief executive officer.
Mr. Immelt has been named one of the "World's Best CEOs" three times by Barron's, and since he began serving as chief executive officer, GE has been named "America's Most Admired Company" in a poll conducted by Fortune magazine and one of "The World's Most Respected Companies" in polls by Barron's and the Financial Times.
Mr. Immelt is also a member of The Business Council, and he is on the board of the New York Federal Reserve Bank.
Mr. Immelt earned a B.A. degree in applied mathematics from Dartmouth College in 1978 and an M.B.A. from Harvard University in 1982. He and his wife have one daughter.
Sunday, November 22, 2009
Profile of Vijay Mallya
Vijay Mallya
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Vijay Mallya
Born 18 December 1955 (1955-12-18) (age 53)
Bantwal, Karnataka, India
Occupation Member of Parliament of:
Rajya Sabha
Chairman of:
United Breweries Group,
Kingfisher Airlines,
Force India,
Royal Challengers Bangalore,
URBB
Net worth ▲US$760 million [1]
Dr. Vijay Mallya (Kannada/Konkani:ವಿಜಯ್ ಮಲ್ಯ, born 18 December 1955) is an Indian drinks and aviation billionaire and former Rajya Sabha MP. The son of industrialist Vittal Mallya, he is the Chairman of the United Breweries Group and Kingfisher Airlines, which draws its name from United Breweries Group's flagship beer brand, Kingfisher.
Mallya has an estimated net worth of $1.2 billion.[2] He receives substantial press coverage that focuses on his lavish parties and his hotels, automobiles, Formula One team Force India, IPL Cricket team Royal Challengers Bangalore and his yacht, the Indian Empress.
Personal life
Mallya is originally from the town of Bantwal (near Mangalore) in Karnataka. He was educated at La Martiniere Boys' College, Kolkata[3] and completed his degree from St. Xavier's College, Calcutta under Calcutta University. He was conferred a Doctorate in Philosophy in Business Administration by some university in California.
Mallya is married twice. His first wife was Sameera and they have a son together, named Sidhartha Vijay Mallya. Later on, he married Rekha and has two daughters Leana Mallya, Tanya Mallya .
Mallya took over as Chairman of the United Breweries Group in 1984. Since then, the group has grown into a multi-national conglomerate of over sixty companies with an annual turnover which has increased by 639% to US$11.2 billion in 1998-1999 . The focal business areas of the group encompass alcoholic beverages, life sciences, engineering, agriculture, chemicals, information technology, aviation and leisure. He owned McDowell Crest.
In May 2007, United Breweries Group announced the all-cash acquisition of scotch whisky maker Whyte & Mackay for £595 million (approximately Rs 6000 crore).[4] In 2005 he took over Millennium Breweries Ltd (formerly known as Inertia Industries Ltd), which owned the two premium beer brands named Sandpiper and Zingaro.
Airlines
A hoarding of Kingfisher Airlines with Vijay Mallya's signatureIn 2005, Vijay Mallya established Kingfisher Airlines. At present, the airline connects 32 cities. Kingfisher Airlines obtained a 26% stake in Air Deccan, a low cost Indian airline which Mallya later acquired fully and integrated into his Kingfisher fleet, rebranding it as Kingfisher Red. Vijay Mallya and his Jet Airways counterpart Naresh Goyal announced an alliance after a marathon meeting on 13 October 2008 at Mumbai, India.[5]
Association with sports
Formula One
Vitantonio Liuzzi driving for Mallya's Formula One team, Force India, at the 2009 Japanese Grand Prix.In 2007, Mallya and the Mol family from The Netherlands bought the Spyker F1 team for 88 million euros.[6] The team changed its name to Force India F1 from the 2008 Season.[7] Team's car VJM-01 was named after its owners Vijay Mallya, Jan Mol and Michiel Mol.
Mallya also represents India in the FIA World Motor Sport Council, where he has a seat from 2009 to 2013.[8]
Football
Mallya's United Breweries sponsors the East Bengal and Mohun Bagan football clubs in Kolkata.[9]
He also was part of the consortium that acquired Queens Park Rangers FC, as part of the Bernie Ecclestone, Flavio Briatore and Lakshmi Mittal.[10]
Cricket
Mallya's flagship firm UB Group owns the Royal Challengers Bangalore team in the Indian Premier League. He won this team in an auction by paying US$111.6 million for the team. The Royal Challengers Bangalore team includes players like Rahul Dravid, Anil Kumble, Kevin Pietersen, Jacques Kallis, Shivnarine Chanderpaul, Robin Uthappa, Mark Boucher, Sunil Joshi, Misbah-ul-Haq, Ross Taylor and Dale Steyn.
Horse racing
Mallya also owns the company, United Racing and Bloodstock Breeders (URBB) which has interests in horse racing. URBB runs the Kunigal stud farm, under lease from the Government of Karnataka.
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Vijay Mallya
Born 18 December 1955 (1955-12-18) (age 53)
Bantwal, Karnataka, India
Occupation Member of Parliament of:
Rajya Sabha
Chairman of:
United Breweries Group,
Kingfisher Airlines,
Force India,
Royal Challengers Bangalore,
URBB
Net worth ▲US$760 million [1]
Dr. Vijay Mallya (Kannada/Konkani:ವಿಜಯ್ ಮಲ್ಯ, born 18 December 1955) is an Indian drinks and aviation billionaire and former Rajya Sabha MP. The son of industrialist Vittal Mallya, he is the Chairman of the United Breweries Group and Kingfisher Airlines, which draws its name from United Breweries Group's flagship beer brand, Kingfisher.
Mallya has an estimated net worth of $1.2 billion.[2] He receives substantial press coverage that focuses on his lavish parties and his hotels, automobiles, Formula One team Force India, IPL Cricket team Royal Challengers Bangalore and his yacht, the Indian Empress.
Personal life
Mallya is originally from the town of Bantwal (near Mangalore) in Karnataka. He was educated at La Martiniere Boys' College, Kolkata[3] and completed his degree from St. Xavier's College, Calcutta under Calcutta University. He was conferred a Doctorate in Philosophy in Business Administration by some university in California.
Mallya is married twice. His first wife was Sameera and they have a son together, named Sidhartha Vijay Mallya. Later on, he married Rekha and has two daughters Leana Mallya, Tanya Mallya .
Mallya took over as Chairman of the United Breweries Group in 1984. Since then, the group has grown into a multi-national conglomerate of over sixty companies with an annual turnover which has increased by 639% to US$11.2 billion in 1998-1999 . The focal business areas of the group encompass alcoholic beverages, life sciences, engineering, agriculture, chemicals, information technology, aviation and leisure. He owned McDowell Crest.
In May 2007, United Breweries Group announced the all-cash acquisition of scotch whisky maker Whyte & Mackay for £595 million (approximately Rs 6000 crore).[4] In 2005 he took over Millennium Breweries Ltd (formerly known as Inertia Industries Ltd), which owned the two premium beer brands named Sandpiper and Zingaro.
Airlines
A hoarding of Kingfisher Airlines with Vijay Mallya's signatureIn 2005, Vijay Mallya established Kingfisher Airlines. At present, the airline connects 32 cities. Kingfisher Airlines obtained a 26% stake in Air Deccan, a low cost Indian airline which Mallya later acquired fully and integrated into his Kingfisher fleet, rebranding it as Kingfisher Red. Vijay Mallya and his Jet Airways counterpart Naresh Goyal announced an alliance after a marathon meeting on 13 October 2008 at Mumbai, India.[5]
Association with sports
Formula One
Vitantonio Liuzzi driving for Mallya's Formula One team, Force India, at the 2009 Japanese Grand Prix.In 2007, Mallya and the Mol family from The Netherlands bought the Spyker F1 team for 88 million euros.[6] The team changed its name to Force India F1 from the 2008 Season.[7] Team's car VJM-01 was named after its owners Vijay Mallya, Jan Mol and Michiel Mol.
Mallya also represents India in the FIA World Motor Sport Council, where he has a seat from 2009 to 2013.[8]
Football
Mallya's United Breweries sponsors the East Bengal and Mohun Bagan football clubs in Kolkata.[9]
He also was part of the consortium that acquired Queens Park Rangers FC, as part of the Bernie Ecclestone, Flavio Briatore and Lakshmi Mittal.[10]
Cricket
Mallya's flagship firm UB Group owns the Royal Challengers Bangalore team in the Indian Premier League. He won this team in an auction by paying US$111.6 million for the team. The Royal Challengers Bangalore team includes players like Rahul Dravid, Anil Kumble, Kevin Pietersen, Jacques Kallis, Shivnarine Chanderpaul, Robin Uthappa, Mark Boucher, Sunil Joshi, Misbah-ul-Haq, Ross Taylor and Dale Steyn.
Horse racing
Mallya also owns the company, United Racing and Bloodstock Breeders (URBB) which has interests in horse racing. URBB runs the Kunigal stud farm, under lease from the Government of Karnataka.
Mr Kuldeep Goyal, Chairman & MD, BSNL, India
Mr. Kuldeep Goyal is Chairman & Managing Director of BSNL. An Engineering Graduate from IIT Roorkee, Mr. Kuldeep Goyal joined the Indian Telecommunication Service of Govt. of India in 1972.
With more than 35 years of service, Mr. Goyal has vast experience in telecom sector viz. Planning, installation, operation and maintenance of wirelines and wireless services, data services, computerization of various activities in telecom network and provision of value added services.
Mr. Goyal has worked in Yemen through Telecommunication Consultants India Ltd. As a Member of National Working Group of ITU-T Study Group 2 he has participated in meetings of ITU-T Study Group 2 at Geneva.
As Chairman & Managing Director, BSNL, he is responsible for management of the largest Indian Telecom network with over 69 million customers and about 310,000 officers and employees, its maintenance and operation, induction of new technologies in the network, marketing etc. As Head of BSNL he has to interact with Govt. and Regulatory Authorities on regular basis.
With more than 35 years of service, Mr. Goyal has vast experience in telecom sector viz. Planning, installation, operation and maintenance of wirelines and wireless services, data services, computerization of various activities in telecom network and provision of value added services.
Mr. Goyal has worked in Yemen through Telecommunication Consultants India Ltd. As a Member of National Working Group of ITU-T Study Group 2 he has participated in meetings of ITU-T Study Group 2 at Geneva.
As Chairman & Managing Director, BSNL, he is responsible for management of the largest Indian Telecom network with over 69 million customers and about 310,000 officers and employees, its maintenance and operation, induction of new technologies in the network, marketing etc. As Head of BSNL he has to interact with Govt. and Regulatory Authorities on regular basis.
Biography of Dinesh Shah
Dinesh Shah
Managing Director, Executive Director and Member of Compensation Committee, Ruchi Soya Industries Ltd. 1010
Age:57
Total Annual Compensation:9,740,323 INR
As of Fiscal Year 2009
This person is connected to 10 board members in 2 different organizations across 3 different industries.
BACKGROUND
Dinesh J. Shahra has been the Managing Director and Director of Ruchi Soya Industries Ltd. since January 7, 2006. Mr. Shahra served with Ruchi Private Limited. Mr. Shahra serves as a Non Executive Director of Ruchi Infrastructure Ltd. He served as a Director of Kilitch Drugs (India) Ltd until September 29, 2007. He holds B.E in Chemical Engineering.
By,
Anand Kumar Pandey
pgdm sec-a
3rd sem
Managing Director, Executive Director and Member of Compensation Committee, Ruchi Soya Industries Ltd. 1010
Age:57
Total Annual Compensation:9,740,323 INR
As of Fiscal Year 2009
This person is connected to 10 board members in 2 different organizations across 3 different industries.
BACKGROUND
Dinesh J. Shahra has been the Managing Director and Director of Ruchi Soya Industries Ltd. since January 7, 2006. Mr. Shahra served with Ruchi Private Limited. Mr. Shahra serves as a Non Executive Director of Ruchi Infrastructure Ltd. He served as a Director of Kilitch Drugs (India) Ltd until September 29, 2007. He holds B.E in Chemical Engineering.
By,
Anand Kumar Pandey
pgdm sec-a
3rd sem
Biography of T. V. Ramanathan
T. V. Ramanathan
Chief Executive Officer, Chief Operating Officer, Managing Director, Executive Director, Member of Executive Committee, Member of Remuneration Committee, Member of Shareholders Grievance Redressal Committee, Director of Caldyne Automatics Limited (Caldyne), Director of Chloride Batteries S E Asia Pte Limited Singapore, Director of Chloride International Limited (CIL) and Director of Expex Batteries Limited UK (Espex), Exide Industries Ltd. 161
Total Annual Compensation:8,500,000 INR
As of Fiscal Year 2009
This person is connected to 16 board members in 1 different organizations across 1 different industries.
BACKGROUND
T. V. Ramanathan serves as Managing Director and Chief Operating Officer of Exide Industries Ltd. and has been its Chief Executive Officer since January 5, 2007. Mr. Ramanathan has been an Executive Director of Exide Industries Ltd. since January 8, 2003. Mr. Ramanathan serves as a Director of Chloride Batteries S.E. Asia Pte. Limited, Singapore., Chloride International Limited (CIL)., Caldyne Automatics Limited (Caldyne) and Expex Batteries Limited, UK (Espex), subsidiaries ... of Exide Industries Ltd.
By,
Khushboo
pgdm sec-a
3rd sem
Chief Executive Officer, Chief Operating Officer, Managing Director, Executive Director, Member of Executive Committee, Member of Remuneration Committee, Member of Shareholders Grievance Redressal Committee, Director of Caldyne Automatics Limited (Caldyne), Director of Chloride Batteries S E Asia Pte Limited Singapore, Director of Chloride International Limited (CIL) and Director of Expex Batteries Limited UK (Espex), Exide Industries Ltd. 161
Total Annual Compensation:8,500,000 INR
As of Fiscal Year 2009
This person is connected to 16 board members in 1 different organizations across 1 different industries.
BACKGROUND
T. V. Ramanathan serves as Managing Director and Chief Operating Officer of Exide Industries Ltd. and has been its Chief Executive Officer since January 5, 2007. Mr. Ramanathan has been an Executive Director of Exide Industries Ltd. since January 8, 2003. Mr. Ramanathan serves as a Director of Chloride Batteries S.E. Asia Pte. Limited, Singapore., Chloride International Limited (CIL)., Caldyne Automatics Limited (Caldyne) and Expex Batteries Limited, UK (Espex), subsidiaries ... of Exide Industries Ltd.
By,
Khushboo
pgdm sec-a
3rd sem
Friday, November 20, 2009
Biography of M. S. Unnikrishnan
M. S. Unnikrishnan
Managing Director, Executive Vice President, Additional Director, Member of Executive Council, Member of Share Transfer & Shareholders Grievance Committee, Member of Borrowing & Investments Committee, Member of Overseas Investment Committee and Member of Strategic Business Development Committee, Thermax Ltd. 88
Age:48
Total Annual Compensation:10,374,941 INR
As of Fiscal Year 2009
This person is connected to 8 board members in 2 different organizations across 1 different industries.
BACKGROUND
M. S. Unnikrishnan has been Managing Director of Thermax Ltd., Holding company of Thermax Surface Coatings Ltd., since July 1, 2007 and serves as its Executive Vice President. Mr. Unnikrishnan serves as a Member of Executive Council of Thermax Ltd. He has been an Additional Director of Thermax Ltd. since July 1, 2007.
by
Anand kumar Pandey
pgdm sec-a
3rd sem
Managing Director, Executive Vice President, Additional Director, Member of Executive Council, Member of Share Transfer & Shareholders Grievance Committee, Member of Borrowing & Investments Committee, Member of Overseas Investment Committee and Member of Strategic Business Development Committee, Thermax Ltd. 88
Age:48
Total Annual Compensation:10,374,941 INR
As of Fiscal Year 2009
This person is connected to 8 board members in 2 different organizations across 1 different industries.
BACKGROUND
M. S. Unnikrishnan has been Managing Director of Thermax Ltd., Holding company of Thermax Surface Coatings Ltd., since July 1, 2007 and serves as its Executive Vice President. Mr. Unnikrishnan serves as a Member of Executive Council of Thermax Ltd. He has been an Additional Director of Thermax Ltd. since July 1, 2007.
by
Anand kumar Pandey
pgdm sec-a
3rd sem
Biography of Sajjan Jindal
Sajjan Jindal BE (Mechanical)
Vice Chairman and Managing Director, JSW Steel Ltd. 2525
Age:49
Total Annual Compensation:32,300,000 INR
As of Fiscal Year 2009
This person is connected to 25 board members in 4 different organizations across 2 different industries.
BACKGROUND
Sajjan Jindal, BE (Mechanical) serves as Senior Vice President of ASSOCHAM and the President of INSDAG (Institute for Steel Development & Growth). Mr. Jindal serves as Managing Director of JSW Steel, Ltd., where he joined on July 4, 1992. He served as Joint Managing Director of Jindal Strips Ltd. Mr. Jindal served as the Managing Director of Jindal Iron & Steel Co. Ltd. Mr. Jindal was a pioneer in developing DD & EDD grades of mild steel in the Indian Steel Sector (an ... import substitute product). He has over 25 years experience in the Steel Industry. He serves as Chairman of Jindal South West Holdings Ltd., JSWILL and JSW Energy Ltd. He serves as Chairman of other Group Companies and Director in several other Companies. He has been Vice Chairman of JSW Steel, Ltd. since February 4, 2005. Mr. Jindal served as the Chairman of Jindal Iron & Steel Co. Ltd. He serves as the Director of JSW Steel, Ltd., JSW Steel (UK) Ltd. and JSW Energy Ltd. He has been a Director of Jindal South West Holdings Ltd. since July 12, 2001. He serves as a Director of Indian Institute of Management Indore, National Shipping Board, TTD Development Advisory Council and the Bombay Chapter of the Young President Organisation. He serves as a Director of Tirumala Tirupati Devasthanam Board. Mr. Jindal served as a Director of Jindal Iron & Steel Co. Ltd. He holds Bachelor's degree in Mechanical Engineering from Bangalore University.
by,
Khushboo
pgdm sec-a
3rd sem
Vice Chairman and Managing Director, JSW Steel Ltd. 2525
Age:49
Total Annual Compensation:32,300,000 INR
As of Fiscal Year 2009
This person is connected to 25 board members in 4 different organizations across 2 different industries.
BACKGROUND
Sajjan Jindal, BE (Mechanical) serves as Senior Vice President of ASSOCHAM and the President of INSDAG (Institute for Steel Development & Growth). Mr. Jindal serves as Managing Director of JSW Steel, Ltd., where he joined on July 4, 1992. He served as Joint Managing Director of Jindal Strips Ltd. Mr. Jindal served as the Managing Director of Jindal Iron & Steel Co. Ltd. Mr. Jindal was a pioneer in developing DD & EDD grades of mild steel in the Indian Steel Sector (an ... import substitute product). He has over 25 years experience in the Steel Industry. He serves as Chairman of Jindal South West Holdings Ltd., JSWILL and JSW Energy Ltd. He serves as Chairman of other Group Companies and Director in several other Companies. He has been Vice Chairman of JSW Steel, Ltd. since February 4, 2005. Mr. Jindal served as the Chairman of Jindal Iron & Steel Co. Ltd. He serves as the Director of JSW Steel, Ltd., JSW Steel (UK) Ltd. and JSW Energy Ltd. He has been a Director of Jindal South West Holdings Ltd. since July 12, 2001. He serves as a Director of Indian Institute of Management Indore, National Shipping Board, TTD Development Advisory Council and the Bombay Chapter of the Young President Organisation. He serves as a Director of Tirumala Tirupati Devasthanam Board. Mr. Jindal served as a Director of Jindal Iron & Steel Co. Ltd. He holds Bachelor's degree in Mechanical Engineering from Bangalore University.
by,
Khushboo
pgdm sec-a
3rd sem
Thursday, November 19, 2009
Jorma Ollila CEO of NOKIA
Chairman of the Board of Directors
Nokia Corporation ADS
Espoo , FI
Sector: TECHNOLOGY / Communication Equipment
Chairman of the Board , Royal Dutch Shell PLC Class A
The Hague , NL
Sector: BASIC MATERIALS / Major Integrated Oil & Gas
59 Years Old
Jorma Ollila, Chairman of the Board of Directors of Nokia Corporation. Chairman of the Board of Directors of Royal Dutch Shell Plc. Board member since 1995. Chairman since 1999. Master of Political Science (University of Helsinki), Master of Science (Econ.) (London School of Economics), Master of Science (Eng.) (Helsinki University of Technology). Chairman and CEO, Chairman of the Group Executive Board of Nokia Corporation 1999-2006, President and CEO, Chairman of the Group Executive Board of Nokia Corporation 1992-1999, President of Nokia Mobile Phones 1990-1992, Senior Vice President, Finance of Nokia 1986-1989. Holder of various managerial positions at Citibank within corporate banking 1978-1985. Vice Chairman of the Board of Directors of Otava Books and Magazines Group Ltd and member of the Board of Directors of Fruugo Inc. Chairman of the Boards of Directors and the Supervisory Boards of The Research Institute of the Finnish Economy ETLA and Finnish Business and Policy Forum EVA. Chairman of The European Round Table of Industrialists. Vice Chairman of the Independent Reflection Group of the Council of the European Union considering the future of the European Union.
Nokia Corporation ADS
Espoo , FI
Sector: TECHNOLOGY / Communication Equipment
Chairman of the Board , Royal Dutch Shell PLC Class A
The Hague , NL
Sector: BASIC MATERIALS / Major Integrated Oil & Gas
59 Years Old
Jorma Ollila, Chairman of the Board of Directors of Nokia Corporation. Chairman of the Board of Directors of Royal Dutch Shell Plc. Board member since 1995. Chairman since 1999. Master of Political Science (University of Helsinki), Master of Science (Econ.) (London School of Economics), Master of Science (Eng.) (Helsinki University of Technology). Chairman and CEO, Chairman of the Group Executive Board of Nokia Corporation 1999-2006, President and CEO, Chairman of the Group Executive Board of Nokia Corporation 1992-1999, President of Nokia Mobile Phones 1990-1992, Senior Vice President, Finance of Nokia 1986-1989. Holder of various managerial positions at Citibank within corporate banking 1978-1985. Vice Chairman of the Board of Directors of Otava Books and Magazines Group Ltd and member of the Board of Directors of Fruugo Inc. Chairman of the Boards of Directors and the Supervisory Boards of The Research Institute of the Finnish Economy ETLA and Finnish Business and Policy Forum EVA. Chairman of The European Round Table of Industrialists. Vice Chairman of the Independent Reflection Group of the Council of the European Union considering the future of the European Union.
Subscribe to:
Posts (Atom)