Here are the two faces of Modern India.
Give speeches exhorting the youth on the values of Indian tradition and at the same time trade with the insiders throwing all values out of the window. Now that Nira Radia has exposed the ugly truth of corporate India, here is one more fall guy for the Goldman Sachs who is going to join Madoff and company
The insider trading charges against a Goldman Sachs board member filed today by the Securities and Exchange Commission have been a long time in coming.
The SEC’s Division of Enforcement said that Rajat K. Gupta, a Westport, Connecticut-based business consultant, provided Raj Rajaratnam with confidential information he learned while serving on the boards of Goldman and Procter & Gamble. Rajaratnam allegedly used to inside information to trade on behalf of hedge funds controlled by his company, Galleon.
and this is from the speech 5 years ago at the ISB Hyderabad
Another thing which I think Ratan said a little bit earlier. Lead through values, be true to yourself. It is easy to make short term compromises that push you ahead. That won’t give you happiness or peace of mind. Sometimes in the quest of making everybody around you happy or what you think they want, you may not do the right thing. Unfortunately or fortunately, you have to live with yourself longer than you have to live with anybody else. So be true to yourself, be value driven
Give speeches exhorting the youth on the values of Indian tradition and at the same time trade with the insiders throwing all values out of the window. Now that Nira Radia has exposed the ugly truth of corporate India, here is one more fall guy for the Goldman Sachs who is going to join Madoff and company
The insider trading charges against a Goldman Sachs board member filed today by the Securities and Exchange Commission have been a long time in coming.
The SEC’s Division of Enforcement said that Rajat K. Gupta, a Westport, Connecticut-based business consultant, provided Raj Rajaratnam with confidential information he learned while serving on the boards of Goldman and Procter & Gamble. Rajaratnam allegedly used to inside information to trade on behalf of hedge funds controlled by his company, Galleon.
and this is from the speech 5 years ago at the ISB Hyderabad
Another thing which I think Ratan said a little bit earlier. Lead through values, be true to yourself. It is easy to make short term compromises that push you ahead. That won’t give you happiness or peace of mind. Sometimes in the quest of making everybody around you happy or what you think they want, you may not do the right thing. Unfortunately or fortunately, you have to live with yourself longer than you have to live with anybody else. So be true to yourself, be value driven
28 comments:
Counting India's homeless
http://english.aljazeera.net/video/asia/2011/03/2011317520831449.html
There are thousands of Rajat Guptas, but most are shielded by our corrupt politicians. Who know, whose path Rajat Gupta crossed resulted being indicted.
Mumbai population
http://www.indiaonlinepages.com/population/mumbai-population.html
The unaccounted people underestimated slum dweller constitute 5 million (estimated - stat bureau) to be atleast 5 million making mumbai's current population to be 26 million. These people live in barely 600 sq km area. This exceeds the entire population of Australia by 20%
Is MMS when talking about the growth of India seems to be confused between population and economic growth. If economic growth is 8%, why are the homeless increasing when the census bureau publishes 1.8% population growth. Rural areas people are dyeing of starvation and the poverty is increasing. Introducing g3/g4/ gps technologies doesn't mean that the country is advancing. These technologies can be bought for paltry amounts and majority people wonld need/use them.
So much for the corrupt government and people showing false nationalism
The problem of Mumbai is lack of citizen revolt. The nexus of Politician, Builders and Mafia is so strong, almost 75% population suffers. I grew up in Mumbai, and have lived in many Indian and International cities in last 15 years. Basically, Politicians have choked off any development of city. It is not easy to figure out that Mumbai runs on Suburban Rail. More than 90% population use it. But in last 60+ years, there has been no significant expansion of rail system. On the contrary, you have politicians, which are paid heavily by builders, always promoting Bridges (Bandra Link), which is only used by top 10% population. If government makes major expansion of suburban rail and connect all surrounding districts like Thane, Raigad etc... by suburban rail, most people will be able to afford decent housing. I feel bad about Mumbai, as I grew up there, and my whole family lives in Mumbai, the quality of life has gone down drastically. If you see, life expectancy in Mumbai has reduced drastically. I always hear folks getting heart attacks etc.. at very young age (even in mid 40's). This was unheard of before. The stress of living in Mumbai takes toll. I tell everyone get the hell out of city, but few rarely wants to do it.
One more stupid project in Mumbai. With the amount of money they will spend on one bridge, one can probably lay 200km of suburban rail line. That would help millions. The road bridge will only help folks with Cars, that is at the most 10% of population (or maybe even less than that). They can connect the whole MMR region with local & express suburban train, and that would make housing affordable and people's life little better. But alas, no one really speaks for common Mumbaikar...
Mumbai Trans Harbour Line
I have to applaud Mamata Banerjee's efforts. The challenge would be ability to fight local bureaucrats and get these projects done. I guarantee that it will take at least 10 years to do what is promised to be done in 4 years.
Mumbai suburban rail to get Rs 5k cr in 4 yrs for upgrades
Banks want higher promoter equity in real estate projects
While the developer normally has 25-30% of equity contribution in a project, banks typically fund 40% of the value.
Apart from demanding higher equity from developers, banks are also not keen to consider too many prospective buyers’ interest in such properties as a credible security against big-ticket loans as there have been instances of buyers backing out.
State-run bank officials said they are asking for promoter equity in real estate projects as high as 50-60% compared with 25-30% till a few months back.
“Banks now have to doubly make sure slightly higher equity contribution in the projects. One may like to have 30-60% (of promoter equity in the project). We would like to be very sure about the credentials of the people,” said R.K. Bakshi, executive director of Bank of Baroda.
“They (banks) used to ask for promoters quota of 25-30%, which they have now increased to 45% and above,” said Anand Gupta, honorary general treasurer of the Builders Association of India, an association that claims membership from nearly 5,000 property developers.
Further increase in suburbun connections to Mumbai will lead to disasterous effect.
India/Maharastra is following the same failed policies the U.K. govt had adopted in the last 20+yrs, wherein all the resources were pumped into London as it was a global city. This led to the cost of living balloning in london and housing being unaffordable for personnell from core services i.e. Fire, health, education, utilities. Now london and its surrounding areas make up over 40% of the U.K. Economy.
Its the same story in India with ref to Mumbai and NCR. The GOI should limit Mumbai to 4 main activities i.e. Finance, Commodities Trading, Media and Sports.
All the other activities should be shifted out to the surrounding districts that make up the MMRDA. Navi mumbai, Thane, Kalyan, Panvel can turn in to wholesale trading hubs. The BPT coastal area upto Trombay should be turned into a Finance, Media cluster.
The Mantralaya should be moved to Kalyan-Bhiwandi.
I believe the GOI WANTS these effing up country idiots swarm this city and die in its shanties. There is no other way for a population control. India's age expectancy is the lowest among the BRICS. Further the retirement age of 58yrs as it is makes a man grow old early, by the time you hit 50 you are winding down.
I believe mumbai has to get worse before it gets better. Once the cost of doing business in this cities get unaffordable, businesses will migrate rapidly. Daily i see dozens of taxi's sitting idle at various stands, this number will increase with the Metro, Mono and dedicated bus lanes. The taxi and auto are the biggest migrant attraction to this city, i can see the bastards dying slowly, so be it cunts can't drive for nuts and are a hazard to others on the road.
If at all there are empty/unsold flats in Mumbai, they are there for a reason viz. waiting for better prices or investors do not want to stock black money. Please dont get lured by rumours that 100,000 apartments could not be sold and a price crash is imminent. The demand exceeds the supply. Just like we are waiting, there are people waiting to buy who dont need banks assistance. There may be several reasons why they are not buying though they have cash required.
I have lost belief in 'Mumbai bubble theory' and come to a realisation that I will never be able to buy an apartment in Mumbai and therefore started investigating distant suburbs
What are we talking here?? 100k flat in a population of 20 million people! are we fool here to talk all this?
Anon 3:33 AM
Why do you want to purchase RE in Mumbai? I don't see any reasons other than work location or investment. Same question goes for buying in suburbs.
It is human nature to not put money during downfall. Think would you put your money in RE if you know prices are doing to decrease?
Be gald you are living in inflation pain, you don't want to know deflation pain.
Nigger 'Raja used wife's a/c to stash bribe money in Mauritius and Seychelles'
http://timesofindia.indiatimes.com/india/Raja-used-wifes-a/c-to-stash-bribe-money-in-Mauritius-and-Seychelles/articleshow/7607294.cms
Ever wonder who are behind FDI and huge investment in real estate
There is no doubt that there are bigger players. to cite few exaples: Dawood Ibrahim, Rajan, Shetty, Ambani and Maharashtra current cum ex ministers.
Ambani through his stooges threatening the Matheron Hotel Owners to sell their property to his company so that he can turn the hill station exclusively for the use of high and mighty. Who is behind Alibaug development. He sees a gold mine behind his investment. Let the poor deserve to live in shanties is his motto
The above is just an example. There are many more like him doing the same things.
Above @ frustrated.
This is nothing new, this has been practice since long time. This is also practiced by many small to large scale business people to get family, friends and relatives involved in the game.
Yes, primary suspect is clean from all records and it is next to impossible to identify the links other than family members.
In India corruption is very innovative other than that there is no innovation.
Enjoy.
100's of Rajat Guptas in US. All those silicon valley companies, majority of them run by indians and chinese, cashing in big time. These bastards need to be rounded up and put in the slammer. But that is not going to happen because Mr. Rajat Gupta's of the world will do some charity and they will waive that charity flag on your face. WTF can you say when they waive that Charity flag is waived at you??? it will contain the pictures of small children. This charity flag waiving is the kryptonite. BTW, guy prosecuting the Sri Lankan hedge funder and Mr. Gupta is a punjabi and i salute him.
99% of the people are corrupt but they do not get the opportunity- Plato
17 million vacant homes in USA is the norm for the last 50 years - as people shift, the business needs to keep some 10% of extra homes vacant.
US, Europe, Japan, China, East Asia - all these countries everyone has a decent home. Many homes are kept vacant because houses exeed population/households.
Including in China.
Only India lives in Juggi.
Still many flats remain vacant because Juggi walas cannot afford flat.
But vacant flats are a very small number in India
Want taste of corruption. Answer this:
How many people in India do you know who have NEVER taken or given bribes (willingly or unwillingly for any reasons) ?
...answer is NONE
Better question:
How many times I HAVE taken or given bribes (willingly or unwillingly or for any reasons)?
answer is atleast once
So much for talking on this forum, why don't we look inside ourselves.
I have never yet given a bribe.
If you are honest, you dont need to.
TDR rates fall to Rs 2500-2600/sq ft across Mumbai
Market sources told CNBC-TV18's Priyanka Ghosh that prices have fallen to an average of Rs 2,500-2,600 a square foot this quarter from Rs 3,000 a square foot last quarter.
The rate in Bandra is expected to hold around Rs 3000 per square foot, but the rates in suburbs like Goregaon and Andheri have declined sharply.
The realty story so far…
Never mind the sky high property prices; realty companies are not able to sell enough homes or office space. And if they are, it is not showing up in their account books. Add to this the lack of transparency in the sector, and it is no surprise that shares of property developers are still trading at a fraction of the dizzying valuations they commanded at the peak of the bull run in 2007-08. The RBI is choking funds to the sector to prevent a bubble in the housing market, through restrictions on loans that banks can give to builders. Following the scam at LIC Housing Finance in which some real estate companies got loans approved by bribing senior officials, banks have become even more wary of lending to real estate firms. Real stocks have been underperforming the broader market for some time now, but fund managers and analysts feel they are still not cheap.
Home registrations in Mumbai at two-year low
Data from the city registrar’s office revealed that only 5,085 documents (or sale deeds) were registered in January — 932 for the island city and the remaining from the suburban areas.
That’s a drop of 25.8% over January 2010, lower than the 5,184 registrations clocked in November 2010, last year’s low point. The lowest registration in recent times, however, was in May 2009 at 4,361.
An analyst with a foreign brokerage pointed out that between last September and December, around four developers in central Mumbai had dropped their prices.
“A developer was selling his project for Rs23,000 per sq ft in September, which he reduced to Rs16,500 per sq ft. Another one near the race course at Mahalakshmi reduced prices by 10%,” the analyst told DNA.
“Developers cannot slash prices easily because they have pre-sold properties to investors promising them a profitable exit. So they would drag as much possible to see if buyers would return after blinking first,” the analyst said.
Pankaj Kapoor, founder and managing director of Liases Foras Real Estate Rating and Research said the pile-up of unsold homes in the city was the highest in December.
“We should expect a correction of 25-30%,” Kapoor said. Abhishek Lodha, managing director of the Lodha Group, however, denied the slowdown in sales.
Abhiskek Lodha is Loda. Buffoon.
Even the angels and heaven are spared from this low interest regime
Trying again on Angels/Heaven
Rs. 30,000 per sq ft for a shanty here
http://www.ndtv.com/article/cities/rs-30-000-per-sq-ft-for-a-shanty-here-90195?pfrom=home-Cities
Just realised that I can't even afford a shanty, let alone a flat
Sometime ago someone had posted a contact for Small software company out of Hyderabad. Can you repost that.
I am trying to setup an office in India, preferably inside SEZ. I would prefer affordable city with decent talent pool. Any ideas or contacts would be helpful. You can email me at skgala at gmail dot com.
to sailesh above. it's so difficult to do business in india if you're an NRI. the rules and laws are unfamiliar and haphazardly enforced. Businesses don't open until 11 AM. Even service based businesses treat you poorly. Try going to an accountant...they'll brush you off knowing there are still plenty more people to make money from.
just my experience in gujarat.
Gujarat is still a cesspool of conniving people. So fuck Gujrat. Set up something in Jaipur, its near a lot of educational institutions and cheap. or setup something in Pune. Yes Pune sucks but lot of cheap talent there.
Something for the doomsdayers to salivate over - from Deepak Shenoy's blog.
http://blog.investraction.com/2011/03/real-estate-return-guarantees-and.html
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