Have been following the US or rather now the global financial crisis closely. To lubricate the financial machinery US central bank and later others seem to have decided to provided the much needed oil, money. Am just wondering how much they think they can pump in and the medium long time effects. USA has the GDP of about a $14 trillion.
A US government decided to put its 'billions of dollars' as per the estimate of its Treasury Secretary on stake to take the risky illiquid assets off the balance sheets of Financial institutions.
The total cost of all the measures in last few weeks is expected to be dollar one trillion.
With a GDP of about $ 14 trillion with deficit of $500 bn which because of these and other measures would increase $650 billion in 2009. The bloomberg article with all the numbers.
I just hope they have a better plan to manage this than buying better and faster printing machines to print more dollars.
Here is funny stuff from the web
Businessweek article on how things would look on the first anniversary of the event with a real innovative idea on what to do about the unsold home inventory, pay people to destroy it for the next shooting Armageddon sequel :)
This shoe site for example has a page on US economy because 'someone has to educate the people in this corporate takeover of media' :)
============
PS : Over with the book. Hannibal Lector is a real gentleman
Friday, September 19, 2008
Tuesday, September 16, 2008
Places of Worship
Wondering whats happening to our places of worship. They are performing every other function than the one they are meant to do, to provide that close connection/ proximity to the supernatural power. Instead, they are becoming tourist centers with economies surviving on pilgrims. They are crowded, mis-managed and to add insult to injury you can buy a costlier ticket to an earlier/ faster/ closer 'darshan' (look) of God.In the last 9 months I have made three trips. First to Shirdi in December 07, the second to Vaishno Devi in April 08 & the last one to Salasar in July 08. On all instances I was left with a bad taste. Huge crowd, loud, pandas/pandits or other people approaching you for special pujas, darshans and prashads, long lines, security & noise all around. There are cameras for security & also for beaming you the picture of inside sacred hall so that you don't spend too much time there.
I don't know if I am the only one here, but I would like my religious visits to be quiet, those rare opportunities to connect with my spiritual side. These visits leave me more tired and disturbed than provide inner peace
Btw : I left my phone & contact list in India. Yes yet again. Don't blame if I haven't called you if you haven't given me your number in the last few weeks
Books Update : Hannibal by Thomas Harris of the 'Silence of the Lambs' (Work in Progress)
Movie Update : Tropical Thunder (Genre : Comedy, Rating : Average). Ben Stiller is good and I did not recognise 'Tom Cruise' till the credits.
Monday, September 15, 2008
Weekend Casualities : The Historical Credit Crisis
The Wall Street Journal headline this morning
Crisis on Wall Street as Lehman Totters, Merrill Is Sold, AIG Seeks to Raise Cash
For an investment banking firm thats more than 150 years old & survived the great depression that history in the making. Recording Lehman's history from its website, not sure how long the website would continue henceon,
All the material below has been taken from Lehman's official website here. The content is here just for record. And I guess another tab would be added on .
September 15, 2008
Lehman Brothers Holdings Inc. Announces It Intends to File Chapter 11 Bankruptcy Petition; No Other Lehman Brothers' U.S. Subsidiaries or Affiliates, Including Its Broker-Dealer and Investment Management Subsidiaries, Are Included in the Filing.
1840–1859
The history of Lehman Brothers parallels the growth of the United States and its energetic drive toward prosperity and international prominence. What would evolve into a global financial entity began as a general store in the American South. Henry Lehman, an immigrant from Germany, opened his small shop in the city of Montgomery, Alabama in 1844. Six years later, he was joined by brothers Emanuel and Mayer, and they named the business Lehman Brothers
1850
Henry, Emanuel and Mayer Lehman founded the Firm in Montgomery, Alabama.
1858
Cotton was the cash crop of the time, and the Lehmans accepted it from the local farmers as currency to settle accounts. The brothers traded the cotton for cash or merchandise, becoming brokers for buyers and sellers of the crop. In 1858, they opened an office in New York, which was the commodity trading center of the country.
Read more
1860–1869
The Civil War disrupted the Lehmans' business. When hostilities ended, the brothers moved north and concentrated their operations in New York, where they helped establish the Cotton Exchange.
The post-war period witnessed the rapid growth of railroads, sparking the transformation of the nation from an agrarian to an industrial economy. At the time, Lehman Brothers' future merger partner, Kuhn, Loeb, was underwriting much of the financing for railroad construction. Railroad bonds represented a significant advance in the development of capital markets. Their affordable price attracted a great number of individual investors and Lehman Brothers, recognizing a trend, expanded its commodities business to include the sale and trading of securities. The Firm also moved into the area of financial advisory, which provided the foundation for underwriting expertise.
1880–1889
During the vigorous economic expansion of the second half of the 19th century, Lehman Brothers broadened its expertise beyond commodities brokerage to merchant banking. Building a securities trading business, they became members of the New York Stock Exchange in 1887. Setting the stage for future global growth, Jacob Schiff, a Kuhn, Loeb partner, led the Firm to establish investment-banking relationships in Europe and Japan
1887
The Firm acquires a seat on the New York Stock Exchange
1889
Lehman Brothers underwrites its first stock offering
1900–1909
At the turn of the century, Lehman Brothers was a founding financier of emerging retailers, including Sears, Roebuck & Company, F.W. Woolworth Company, May Department Stores Company, Gimbel Brothers, Inc. and R.H. Macy & Company.
1920–1929
In the 1920s, Robert Lehman perceived dynamic changes occurring in the nation's economy, and focused the company on rapidly developing consumer industries such as retailing, airlines and communications. Lehman Brothers was a strong supporter of the entertainment sector and advised on the consolidation of major movie theater chains. Start-up ventures, including film studios RKO, Paramount and 20th Century Fox, benefited from financing arranged by the Firm. Triggered by the stock market crash of 1929, the Depression placed tremendous pressure on the availability of capital. Lehman Brothers was one of the pioneers of innovative financing techniques such as private placements, arranging loans between blue-chip borrowers and private lenders. These loans offered strict safeguards and solid returns for lenders, while enabling borrowers to raise much-needed capital
1929
The Lehman Corporation is created, a prominent closed-end investment company
1930–1939
The 1930s witnessed the explosive growth of radio and experimentation with a developing technology called television. Lehman Brothers underwrote the initial public offering for DuMont, the first television manufacturer, and helped fund the Radio Corporation of America, known as RCA. Beginning in the 1930s, the increasing demand for oil set off waves of wildcat drilling in search of the resource. Companies like Halliburton and Kerr-McGee relied on Lehman Brothers for capital to fund their activities
1940–1949
The end of World War II ignited an unprecedented era of prosperity, fueling the growth of consumer industries such as home appliances and auto manufacturing. Lehman Brothers became an important financial advisor and underwriter for many growing companies and established a number of long-term relationships that are still active today.
1949
The Firm establishes its 10 Uncommon Values® Portfolio
1950–1959
Economic expansion accelerated in the 1950s with the dawn of the Electronics Age, and Lehman Brothers arranged start-up financing for companies such as Litton Industries. The Firm also lent its expertise and advisory skills to Burlington Mills, Schenley Industries and American Export Lines.
This period was also the beginning of the computer era, and Lehman Brothers provided IPO underwriting for industry pioneer Digital Equipment. The Firm later arranged the acquisition of Digital by Compaq. The travel industry benefited from the sustained economic growth of the period, and Lehman Brothers sponsored the IPO of Hertz Rent-a-Car. The focus on transportation and travel continued into the 1960s, with Lehman Brothers advising Ford Motor Company, TWA, American Airlines and Continental Airlines.
1975
The Firm acquires Abraham & Co.
1980–1989
In the 1980s, Lehman Brothers played an important role in the dawn of the Information Age, helping fund such companies as Intel and new technology businesses of the period, which later became the leading players in the high-tech revolution. During the robust merger and acquisition activity of the 1980s, Lehman Brothers advised companies such as Chrysler, American Motors, General Foods, Philip Morris and Hoffman-LaRoche on expanding domestic and international operations. In the mid-1980s, breakthrough research in the life sciences introduced the biotech era, revolutionizing the healthcare industry. Lehman Brothers assisted a number of new businesses in obtaining the capital needed to fund research and development. A leading advisor to the healthcare sector, the Firm worked with major pharmaceutical companies during the international consolidation and globalization of the industry.
1984
American Express acquires Lehman Brothers and merges the Firm with Shearson.
1990–1999
American Express divested Shearson in 1993, and the independent Firm once again became known solely as Lehman Brothers
1994
The Firm becomes independent through a public stock offering and Lehman Brothers Holding Inc. common stock commences trading on the New York & Pacific stock exchanges. Lehman Brothers opens an office in Tel Aviv, Israel, building upon its long-term presence in that country. At this time, consumer-driven companies such as General Foods, Campbell Soup and Philip Morris turned to Lehman Brothers to help finance the growth necessary to satisfy burgeoning demand for their products.
1995
The Firm earns recognition as "Global Bond House of the Year" by International Finance Review.
1998
Lehman Brothers joins the S&P 500 Index and establishes its 10 Uncommon EuroValues portfolio
1999
Lehman Brothers establishes its first venture capital fund and celebrates the 50th year of its 10 Uncommon Values® portfolio. Lehman Brothers establishes an alliance with Bank of Tokyo-Mitsubishi for Japanese M&A.
The Firm passes the $1 billion mark in annual net income for the first time.
2000+
Lehman Brothers celebrates its 150th year anniversary. The Firm joins the S&P 100 Index and its stock price hits $100 for the first time. Lehman Brothers becomes the first firm to underwrite corporate debt on the Internet. The Firm launches LehmanLive®, a Web site that offers clients around the globe access to a vast array of services and proprietary information 24 hours a day.
2001
The Firm resumes fixed income trading two days after Sept. 11 and equity trading when U.S. markets open.
Lehman Brothers brings the first IPO, Given Imaging, to market after Sept. 11. The Firm buys 745 Seventh Ave. for its new global headquarters in Midtown Manhattan and purchases additional space in New York City and New Jersey. Lehman Brothers becomes a member of the Amsterdam Stock Exchange.
2002
Lehman Brothers moves into its new global headquarters in Midtown Manhattan. The Firm establishes the Wealth and Asset Management Division*. Lehman Brothers executes the largest financial services IPO in history for CIT Group, and the largest European leveraged buyout in history for KKR and Wendel Investissement. The Firm lead-manages the largest-ever U.S. dollar denominated debt issue for GECC.
Lehman Brothers acquires Lincoln Capital Management's fixed income business*. * In 2005, the Wealth and Asset Management Division was renamed the Investment Management Division and Lincoln Capital Fixed Income Management Company, LLC was renamed Lehman Brothers Asset Management LLC.
2003
Lehman Brothers acquires Neuberger Berman, positioning the Firm as an industry leader in the wealth and asset management business. The Firm moves to its new European headquarters at 25 Bank Street in Canary Wharf. Lehman Brothers acquires The Crossroads Group*, expanding the Firm's private equity fund investment management business. Moody's Investors Service raises the Firm's long-term credit rating to A1 and the LBI broker-dealer credit rating to Aa3, representing the third ratings upgrade in the last four years.
* In 2005, Lehman Crossroads Investment Advisers, LP (d/b/a The Crossroads Group) was renamed Lehman Brothers Private Fund Advisers, LP
2004
Lehman Brothers moves to its new Asia headquarters in Tokyo's Roppongi Hills. The Firm advises on two of the top five announced Mergers & Acquisitions transactions worldwide: Cingular Wireless' acquisition of AT&T Wireless Services; and Sprint's acquisition of Nextel Communications. Lehman Brothers executes the largest capital markets transaction in the history of the U.S. utility industry for Pacific Gas & Electric and the largest IPO globally in 2004 for Belgacom SA. The Firm posts record financial results, including best-ever net revenue, net income, and earnings per share. The Firm increases its dividend by 33%. Assets under management at the Firm's Investment Management Division rise to a record $137 billion.
2006
Lehman Brothers achieves record net revenues, net income and earnings per share for the third consecutive year based on record results across all business segments and regions. Ranks #1 in the Barron's 500 annual survey of corporate performance for the largest companies in the U.S. and Canada. #1 dealer on the London Stock Exchange by trading volume. Advises clients on the three largest global M&A deals announced in 2006: AT&T's acquisition of BellSouth; Gaz de France's merger with Suez* (pending); Endesa's defense mandate resulting from E.ON's takeover offer** (withdrawn). The Lehman Brothers Centre for Women in Business officially launches at the London Business School. All transactions appear as a matter of record only.Source: Thomson Financial, 1 Jan 2006 - 31 Dec 2006* Advisor to the Republic of France, Gaz de France's majority shareholder** Also acted as advisor to Endesa on a consortium's (Enel and Acciona) subsequent takeover offer in 2007
2007
Lehman Brothers ranks #1 "Most Admired Securities Firm" by Fortune. Achieves record net revenues, net income and earnings per common share (diluted) for the fourth consecutive year based on record results in all three business segments. Acts as financial advisor on largest-ever M&A transaction in financial institutions sector: $98 billion acquisition of ABN AMRO by a consortium of the Royal Bank of Scotland, Santander and Fortis.* #1 dealer on the London Stock Exchange by annual trading volume for the third year in a row.
Creates the Lehman Brothers Center for Global Finance and Economic Development at Spelman College, the #1 ranked institution among historically black colleges and universities by U.S. News & World Report.
Establishes the Council on Climate Change to bring together leaders from industry, policy and academia to facilitate constructive dialogue regarding climate change policy formulation and its impact on business.
*Financial advisor to ABN AMRO
Crisis on Wall Street as Lehman Totters, Merrill Is Sold, AIG Seeks to Raise Cash
For an investment banking firm thats more than 150 years old & survived the great depression that history in the making. Recording Lehman's history from its website, not sure how long the website would continue henceon,
All the material below has been taken from Lehman's official website here. The content is here just for record. And I guess another tab would be added on .
September 15, 2008
Lehman Brothers Holdings Inc. Announces It Intends to File Chapter 11 Bankruptcy Petition; No Other Lehman Brothers' U.S. Subsidiaries or Affiliates, Including Its Broker-Dealer and Investment Management Subsidiaries, Are Included in the Filing.
1840–1859
The history of Lehman Brothers parallels the growth of the United States and its energetic drive toward prosperity and international prominence. What would evolve into a global financial entity began as a general store in the American South. Henry Lehman, an immigrant from Germany, opened his small shop in the city of Montgomery, Alabama in 1844. Six years later, he was joined by brothers Emanuel and Mayer, and they named the business Lehman Brothers
1850
Henry, Emanuel and Mayer Lehman founded the Firm in Montgomery, Alabama.
1858
Cotton was the cash crop of the time, and the Lehmans accepted it from the local farmers as currency to settle accounts. The brothers traded the cotton for cash or merchandise, becoming brokers for buyers and sellers of the crop. In 1858, they opened an office in New York, which was the commodity trading center of the country.
Read more
1860–1869
The Civil War disrupted the Lehmans' business. When hostilities ended, the brothers moved north and concentrated their operations in New York, where they helped establish the Cotton Exchange.
The post-war period witnessed the rapid growth of railroads, sparking the transformation of the nation from an agrarian to an industrial economy. At the time, Lehman Brothers' future merger partner, Kuhn, Loeb, was underwriting much of the financing for railroad construction. Railroad bonds represented a significant advance in the development of capital markets. Their affordable price attracted a great number of individual investors and Lehman Brothers, recognizing a trend, expanded its commodities business to include the sale and trading of securities. The Firm also moved into the area of financial advisory, which provided the foundation for underwriting expertise.
1880–1889
During the vigorous economic expansion of the second half of the 19th century, Lehman Brothers broadened its expertise beyond commodities brokerage to merchant banking. Building a securities trading business, they became members of the New York Stock Exchange in 1887. Setting the stage for future global growth, Jacob Schiff, a Kuhn, Loeb partner, led the Firm to establish investment-banking relationships in Europe and Japan
1887
The Firm acquires a seat on the New York Stock Exchange
1889
Lehman Brothers underwrites its first stock offering
1900–1909
At the turn of the century, Lehman Brothers was a founding financier of emerging retailers, including Sears, Roebuck & Company, F.W. Woolworth Company, May Department Stores Company, Gimbel Brothers, Inc. and R.H. Macy & Company.
1920–1929
In the 1920s, Robert Lehman perceived dynamic changes occurring in the nation's economy, and focused the company on rapidly developing consumer industries such as retailing, airlines and communications. Lehman Brothers was a strong supporter of the entertainment sector and advised on the consolidation of major movie theater chains. Start-up ventures, including film studios RKO, Paramount and 20th Century Fox, benefited from financing arranged by the Firm. Triggered by the stock market crash of 1929, the Depression placed tremendous pressure on the availability of capital. Lehman Brothers was one of the pioneers of innovative financing techniques such as private placements, arranging loans between blue-chip borrowers and private lenders. These loans offered strict safeguards and solid returns for lenders, while enabling borrowers to raise much-needed capital
1929
The Lehman Corporation is created, a prominent closed-end investment company
1930–1939
The 1930s witnessed the explosive growth of radio and experimentation with a developing technology called television. Lehman Brothers underwrote the initial public offering for DuMont, the first television manufacturer, and helped fund the Radio Corporation of America, known as RCA. Beginning in the 1930s, the increasing demand for oil set off waves of wildcat drilling in search of the resource. Companies like Halliburton and Kerr-McGee relied on Lehman Brothers for capital to fund their activities
1940–1949
The end of World War II ignited an unprecedented era of prosperity, fueling the growth of consumer industries such as home appliances and auto manufacturing. Lehman Brothers became an important financial advisor and underwriter for many growing companies and established a number of long-term relationships that are still active today.
1949
The Firm establishes its 10 Uncommon Values® Portfolio
1950–1959
Economic expansion accelerated in the 1950s with the dawn of the Electronics Age, and Lehman Brothers arranged start-up financing for companies such as Litton Industries. The Firm also lent its expertise and advisory skills to Burlington Mills, Schenley Industries and American Export Lines.
This period was also the beginning of the computer era, and Lehman Brothers provided IPO underwriting for industry pioneer Digital Equipment. The Firm later arranged the acquisition of Digital by Compaq. The travel industry benefited from the sustained economic growth of the period, and Lehman Brothers sponsored the IPO of Hertz Rent-a-Car. The focus on transportation and travel continued into the 1960s, with Lehman Brothers advising Ford Motor Company, TWA, American Airlines and Continental Airlines.
1975
The Firm acquires Abraham & Co.
1980–1989
In the 1980s, Lehman Brothers played an important role in the dawn of the Information Age, helping fund such companies as Intel and new technology businesses of the period, which later became the leading players in the high-tech revolution. During the robust merger and acquisition activity of the 1980s, Lehman Brothers advised companies such as Chrysler, American Motors, General Foods, Philip Morris and Hoffman-LaRoche on expanding domestic and international operations. In the mid-1980s, breakthrough research in the life sciences introduced the biotech era, revolutionizing the healthcare industry. Lehman Brothers assisted a number of new businesses in obtaining the capital needed to fund research and development. A leading advisor to the healthcare sector, the Firm worked with major pharmaceutical companies during the international consolidation and globalization of the industry.
1984
American Express acquires Lehman Brothers and merges the Firm with Shearson.
1990–1999
American Express divested Shearson in 1993, and the independent Firm once again became known solely as Lehman Brothers
1994
The Firm becomes independent through a public stock offering and Lehman Brothers Holding Inc. common stock commences trading on the New York & Pacific stock exchanges. Lehman Brothers opens an office in Tel Aviv, Israel, building upon its long-term presence in that country. At this time, consumer-driven companies such as General Foods, Campbell Soup and Philip Morris turned to Lehman Brothers to help finance the growth necessary to satisfy burgeoning demand for their products.
1995
The Firm earns recognition as "Global Bond House of the Year" by International Finance Review.
1998
Lehman Brothers joins the S&P 500 Index and establishes its 10 Uncommon EuroValues portfolio
1999
Lehman Brothers establishes its first venture capital fund and celebrates the 50th year of its 10 Uncommon Values® portfolio. Lehman Brothers establishes an alliance with Bank of Tokyo-Mitsubishi for Japanese M&A.
The Firm passes the $1 billion mark in annual net income for the first time.
2000+
Lehman Brothers celebrates its 150th year anniversary. The Firm joins the S&P 100 Index and its stock price hits $100 for the first time. Lehman Brothers becomes the first firm to underwrite corporate debt on the Internet. The Firm launches LehmanLive®, a Web site that offers clients around the globe access to a vast array of services and proprietary information 24 hours a day.
2001
The Firm resumes fixed income trading two days after Sept. 11 and equity trading when U.S. markets open.
Lehman Brothers brings the first IPO, Given Imaging, to market after Sept. 11. The Firm buys 745 Seventh Ave. for its new global headquarters in Midtown Manhattan and purchases additional space in New York City and New Jersey. Lehman Brothers becomes a member of the Amsterdam Stock Exchange.
2002
Lehman Brothers moves into its new global headquarters in Midtown Manhattan. The Firm establishes the Wealth and Asset Management Division*. Lehman Brothers executes the largest financial services IPO in history for CIT Group, and the largest European leveraged buyout in history for KKR and Wendel Investissement. The Firm lead-manages the largest-ever U.S. dollar denominated debt issue for GECC.
Lehman Brothers acquires Lincoln Capital Management's fixed income business*. * In 2005, the Wealth and Asset Management Division was renamed the Investment Management Division and Lincoln Capital Fixed Income Management Company, LLC was renamed Lehman Brothers Asset Management LLC.
2003
Lehman Brothers acquires Neuberger Berman, positioning the Firm as an industry leader in the wealth and asset management business. The Firm moves to its new European headquarters at 25 Bank Street in Canary Wharf. Lehman Brothers acquires The Crossroads Group*, expanding the Firm's private equity fund investment management business. Moody's Investors Service raises the Firm's long-term credit rating to A1 and the LBI broker-dealer credit rating to Aa3, representing the third ratings upgrade in the last four years.
* In 2005, Lehman Crossroads Investment Advisers, LP (d/b/a The Crossroads Group) was renamed Lehman Brothers Private Fund Advisers, LP
2004
Lehman Brothers moves to its new Asia headquarters in Tokyo's Roppongi Hills. The Firm advises on two of the top five announced Mergers & Acquisitions transactions worldwide: Cingular Wireless' acquisition of AT&T Wireless Services; and Sprint's acquisition of Nextel Communications. Lehman Brothers executes the largest capital markets transaction in the history of the U.S. utility industry for Pacific Gas & Electric and the largest IPO globally in 2004 for Belgacom SA. The Firm posts record financial results, including best-ever net revenue, net income, and earnings per share. The Firm increases its dividend by 33%. Assets under management at the Firm's Investment Management Division rise to a record $137 billion.
2006
Lehman Brothers achieves record net revenues, net income and earnings per share for the third consecutive year based on record results across all business segments and regions. Ranks #1 in the Barron's 500 annual survey of corporate performance for the largest companies in the U.S. and Canada. #1 dealer on the London Stock Exchange by trading volume. Advises clients on the three largest global M&A deals announced in 2006: AT&T's acquisition of BellSouth; Gaz de France's merger with Suez* (pending); Endesa's defense mandate resulting from E.ON's takeover offer** (withdrawn). The Lehman Brothers Centre for Women in Business officially launches at the London Business School. All transactions appear as a matter of record only.Source: Thomson Financial, 1 Jan 2006 - 31 Dec 2006* Advisor to the Republic of France, Gaz de France's majority shareholder** Also acted as advisor to Endesa on a consortium's (Enel and Acciona) subsequent takeover offer in 2007
2007
Lehman Brothers ranks #1 "Most Admired Securities Firm" by Fortune. Achieves record net revenues, net income and earnings per common share (diluted) for the fourth consecutive year based on record results in all three business segments. Acts as financial advisor on largest-ever M&A transaction in financial institutions sector: $98 billion acquisition of ABN AMRO by a consortium of the Royal Bank of Scotland, Santander and Fortis.* #1 dealer on the London Stock Exchange by annual trading volume for the third year in a row.
Creates the Lehman Brothers Center for Global Finance and Economic Development at Spelman College, the #1 ranked institution among historically black colleges and universities by U.S. News & World Report.
Establishes the Council on Climate Change to bring together leaders from industry, policy and academia to facilitate constructive dialogue regarding climate change policy formulation and its impact on business.
*Financial advisor to ABN AMRO
Sunday, June 24, 2007
My adventure with the Mumbai Cops
Written sometime in June 2007
Declaration :This comes an educated professional running in her usual in the rat race with no links to crime scene/underworld etc.
Information : This comes six month late, but have moved to Mumbai. Have a car with a Punjab registration which after being damaged in an accident was parked outside my building with me waiting for a weekend to get it repaired, till one morning.
Just one morning while I was running behined schedule a little bit as usual, I saw two cops standing in the street where my car was parked for the last few days. I looked carefully there were cops, but no car. Oh my God! Did someone stole my car or what ? More than anything else I was shocked. Who would steal my car. To be fair it still runs, but nevertheless it is almost a decade old, badly maintained, not cleaned for two months and at the end of it all, a B segment car in the middle of those newer Sedans.
Shocked at the thief whose standards were so low, I approached the cops . To my surprise the policemen jumped at discovering who the owner was. I was very pleased to hear that they had been looking almost the whole night. How concerned & dutibound, I thought.
I began talking and their questions went something like this
Who owned that car ?
For how many days was it here ?
Why was it there ?
When did it come ?
What was the purpose?
When did I last use it / Did some one else use it / The apparent accident that had happened / When/ Where etc etc?
I was shocked. What was going on ? Why was this policeman acting so weirdly ? The fact that the registration of the car is not in my name (The vehicle belongs to my dad and my parents are based out of Delhi) did not help the case at all.
And then the contours of the dramatic story unfolded.
It seems someone in the neighbouring building had intimated the cops last night of the suscipicious vehicle parked opposite his gate. According to him the vehicle was old, uncleaned, had an accident and, had a Punjab number. Clearly, this had to be bomb. These guys had been there since early morning trying to find the elusive owner & the scary bomb.
What happened thereon is history. I signed some papers (statement) went to the police station explained the case, and promptly gave my car to the nearest workshop for cleaning then & there. Inspite of everything that transpired, my interaction with cops was polite & cordial. I liked the professional treatment.
PS: That was the first time I ever went to the police station. Just recording another step in my growth as a person
Moral of the story : Keep your cars clean & get them repaired as soon as you have an accident.
Declaration :This comes an educated professional running in her usual in the rat race with no links to crime scene/underworld etc.
Information : This comes six month late, but have moved to Mumbai. Have a car with a Punjab registration which after being damaged in an accident was parked outside my building with me waiting for a weekend to get it repaired, till one morning.
Just one morning while I was running behined schedule a little bit as usual, I saw two cops standing in the street where my car was parked for the last few days. I looked carefully there were cops, but no car. Oh my God! Did someone stole my car or what ? More than anything else I was shocked. Who would steal my car. To be fair it still runs, but nevertheless it is almost a decade old, badly maintained, not cleaned for two months and at the end of it all, a B segment car in the middle of those newer Sedans.
Shocked at the thief whose standards were so low, I approached the cops . To my surprise the policemen jumped at discovering who the owner was. I was very pleased to hear that they had been looking almost the whole night. How concerned & dutibound, I thought.
I began talking and their questions went something like this
Who owned that car ?
For how many days was it here ?
Why was it there ?
When did it come ?
What was the purpose?
When did I last use it / Did some one else use it / The apparent accident that had happened / When/ Where etc etc?
I was shocked. What was going on ? Why was this policeman acting so weirdly ? The fact that the registration of the car is not in my name (The vehicle belongs to my dad and my parents are based out of Delhi) did not help the case at all.
And then the contours of the dramatic story unfolded.
It seems someone in the neighbouring building had intimated the cops last night of the suscipicious vehicle parked opposite his gate. According to him the vehicle was old, uncleaned, had an accident and, had a Punjab number. Clearly, this had to be bomb. These guys had been there since early morning trying to find the elusive owner & the scary bomb.
What happened thereon is history. I signed some papers (statement) went to the police station explained the case, and promptly gave my car to the nearest workshop for cleaning then & there. Inspite of everything that transpired, my interaction with cops was polite & cordial. I liked the professional treatment.
PS: That was the first time I ever went to the police station. Just recording another step in my growth as a person
Moral of the story : Keep your cars clean & get them repaired as soon as you have an accident.
Sunday, January 07, 2007
It also happens in Delhi
It happened with me yet again. Had taken a day off to make good use of the Christmas weekend to go home. The three days home were great for unwinding and I really did not want to come back. (For those who me know too well, for example my parents, were surprised. I am not those very sentimental and mushy kinds) Never the less, I let home on Christmas night to take the Rajdhani to this city in the heart of India where I work
Now that I am absent minded is almost universal acknowledged. And I had the extra advantage of leaving a little late for the station. I went to station the train was already there at the platform. I frantically searched my name in charts. To my dismay, it was not there . It took me quite some disbelief to figure out that my ticket was not confirmed.
It took me good 15 minutes of talking to the TT to convince me how desperately I needed to be at work the next morning. Seeing no signs of me relenting the poor man gave in. That he too almost missed the train in this whole exercise is another story.
Once in I decided to call back home to tell them that I have left Delhi. I looked into my purse, then in my bag, then in my jeans pocket and then again in my purse. Quite a few rounds of these searches and realized the evening had been more exciting than I initially thought. I had lost my cell phone. Since was talking on the phone while on my way to station it clearly was not left back home.
For those who loose their cell phone for the first time are clearly unprepared for the loss of information it brings. I have since long stopped keeping people's cards or a diary. The 1.5 inches by 4 inches by 1/2 inch gadget stores all my contact numbers, to do lists, information etc. But this to is not the high point of this story.
The high point of the story was to be unfolded the next day morning. I landed in Nagpur and then reached office, to find out that dad had called someone to give a message. An autorickshaw driver had given my cellphone in the nearest police station to be delivered to its owner. In 2004 something similar had happened to me in Mumbai. But ordinarily I or for that matter no one I know would have expected this is Delhi. We just make certain generalizations of things and people around us.
Yet again life taught me not to make any assumptions
PS : If I haven't called you for long, please blame it on this incident. Its high time you give me a call so that I get your number again.
Now that I am absent minded is almost universal acknowledged. And I had the extra advantage of leaving a little late for the station. I went to station the train was already there at the platform. I frantically searched my name in charts. To my dismay, it was not there . It took me quite some disbelief to figure out that my ticket was not confirmed.
It took me good 15 minutes of talking to the TT to convince me how desperately I needed to be at work the next morning. Seeing no signs of me relenting the poor man gave in. That he too almost missed the train in this whole exercise is another story.
Once in I decided to call back home to tell them that I have left Delhi. I looked into my purse, then in my bag, then in my jeans pocket and then again in my purse. Quite a few rounds of these searches and realized the evening had been more exciting than I initially thought. I had lost my cell phone. Since was talking on the phone while on my way to station it clearly was not left back home.
For those who loose their cell phone for the first time are clearly unprepared for the loss of information it brings. I have since long stopped keeping people's cards or a diary. The 1.5 inches by 4 inches by 1/2 inch gadget stores all my contact numbers, to do lists, information etc. But this to is not the high point of this story.
The high point of the story was to be unfolded the next day morning. I landed in Nagpur and then reached office, to find out that dad had called someone to give a message. An autorickshaw driver had given my cellphone in the nearest police station to be delivered to its owner. In 2004 something similar had happened to me in Mumbai. But ordinarily I or for that matter no one I know would have expected this is Delhi. We just make certain generalizations of things and people around us.
Yet again life taught me not to make any assumptions
PS : If I haven't called you for long, please blame it on this incident. Its high time you give me a call so that I get your number again.
Sunday, October 08, 2006
I have got used to Nagpur
I remember reading this in my Hindi textbook in school. I think its in some chapter between standard VI to VIII. The example is of a train journey. The author explains how at every station as new people enter a compartment, there is a lot of resistance, often the passengers who enter a compartment stand for a while, as there is no place to sit and there is a lot of general resistance to their presence. Gradually as the train moves, some of them are offered seats, people shift to accommodate, they become friendly with same passengers and often, when its time to leave people exchange address/contact information and ask each other to keep in touch. Another common feature of such interactions is that nobody keeps in touch or contacts after that. The same passengers make new friends in their next journey.
So much for a small piece of information, I think I have gotten used to Nagour and life here. I shifted here 2 months ago. Suddenly realized how strange life in a small city can be. No friends to go out with, no family to come back home to crib or fight with. No public transport after seven- thirty. After eight months in Mumbai, the lifestyle in this city came as a shock. The fact that people are laid back and relaxed while I wanted to put a lot of fight for my career did not help things at all.
But then I found my own way of coping with things. So what if I can't go out for dinner, if the absence of company, I realized I could have dinner while conversing with people on the phone, Bad substitute but still better than spending all evenings and all weekends alone. Life has started looking better as I get used to having a relaxed time. So in Nagpur you wind up early enough to catch an auto back in decent time. And you plan your morning meetings late enough for people to reach office. Last time when I came back from Mumbai, Nagpur felt like home.
And for all those who are helping to survive this city, the people who keep me company though the long phonecalls/ chats, the lady downstairs who makes my tiffin, the really nice neighbours who ensure that I have drinking water every day, I know there would promises to keep in touch But then life moves on. There would be another city, new neighbours, new friends.
So much for a small piece of information, I think I have gotten used to Nagour and life here. I shifted here 2 months ago. Suddenly realized how strange life in a small city can be. No friends to go out with, no family to come back home to crib or fight with. No public transport after seven- thirty. After eight months in Mumbai, the lifestyle in this city came as a shock. The fact that people are laid back and relaxed while I wanted to put a lot of fight for my career did not help things at all.
But then I found my own way of coping with things. So what if I can't go out for dinner, if the absence of company, I realized I could have dinner while conversing with people on the phone, Bad substitute but still better than spending all evenings and all weekends alone. Life has started looking better as I get used to having a relaxed time. So in Nagpur you wind up early enough to catch an auto back in decent time. And you plan your morning meetings late enough for people to reach office. Last time when I came back from Mumbai, Nagpur felt like home.
And for all those who are helping to survive this city, the people who keep me company though the long phonecalls/ chats, the lady downstairs who makes my tiffin, the really nice neighbours who ensure that I have drinking water every day, I know there would promises to keep in touch But then life moves on. There would be another city, new neighbours, new friends.
Thursday, June 22, 2006
Cherished Memories - I really miss you
I really do. I miss those long days and sometimes whole nights spend with you. You were always there for you when I needed and you never complained when I didn't give you enough time (which of course you will agree was very rare).
You always seemed to have an answer when I had a question and often mesmerized me the results and wealth of information and the variety of perspective you could provide.
It didn't matter what purpose it was - academic or extra-curricular, business or fun, to have fun in a group of friends with a thriller or comedy or to curl up with a romantic movie - you never complained or resisted, you just went along.
Sometimes when I was really sad and wanted to run away from the world, you were the one to turn to. After all you were never judged me. Whether I wanted to express it with sad songs or pen it in down (for myself or for others), you always had a way, an option, an alternative; a possibility how it could be done.
And when I wanted a gala celebration a grand party with people, food and loud music, you were the one that made it possible. We all had fun because you were there.
I often complained. Insisted on redoing and rearranging stuff, and often left you working through nights and sometimes for days so that I could save my time, finish my work faster
I am human, so left you behind when I thought that was more appropriate. My dear, trust me the memories are still cherished. You have a place in my place in my life which is indisputably yours. You might not be with me but you are still mine.
My dearest Personal Computer with 24 hours broadband connection, you indeed were the one for me. I miss you. I come and try to replicate being with you but this plasma screen monitor and these plush surroundings are hardly a match for the bond we shared.
=============================================
What I have been reading lately - Shantaram by Gregory Roberts (Amazing stuff, kind of enlightened me to Mumbai, highly recommended. Warning - Is a huge book)
Kaavya Viswnathan's - HOMGKGWGAL ( Controversy made me buy this. Might be an entertainer for a college kid but no great shakes otherwise)
Argumentative Indian by Amartya Sen - have just started.
You always seemed to have an answer when I had a question and often mesmerized me the results and wealth of information and the variety of perspective you could provide.
It didn't matter what purpose it was - academic or extra-curricular, business or fun, to have fun in a group of friends with a thriller or comedy or to curl up with a romantic movie - you never complained or resisted, you just went along.
Sometimes when I was really sad and wanted to run away from the world, you were the one to turn to. After all you were never judged me. Whether I wanted to express it with sad songs or pen it in down (for myself or for others), you always had a way, an option, an alternative; a possibility how it could be done.
And when I wanted a gala celebration a grand party with people, food and loud music, you were the one that made it possible. We all had fun because you were there.
I often complained. Insisted on redoing and rearranging stuff, and often left you working through nights and sometimes for days so that I could save my time, finish my work faster
I am human, so left you behind when I thought that was more appropriate. My dear, trust me the memories are still cherished. You have a place in my place in my life which is indisputably yours. You might not be with me but you are still mine.
My dearest Personal Computer with 24 hours broadband connection, you indeed were the one for me. I miss you. I come and try to replicate being with you but this plasma screen monitor and these plush surroundings are hardly a match for the bond we shared.
=============================================
What I have been reading lately - Shantaram by Gregory Roberts (Amazing stuff, kind of enlightened me to Mumbai, highly recommended. Warning - Is a huge book)
Kaavya Viswnathan's - HOMGKGWGAL ( Controversy made me buy this. Might be an entertainer for a college kid but no great shakes otherwise)
Argumentative Indian by Amartya Sen - have just started.
Tuesday, April 18, 2006
Looking for a Lifepartner
It's that stage of life. When you know a lot of young people who have achieved a professional/educational milestone, such periods are inevitable. Completed my MBA last year and quite of few of my class/batch mates have already landed themselves much desired soul mates soon after joining their plum jobs. There are others who are active in the search phase, and another lot who is trying the avoid this and savor the single/bachelor/maiden lifestyle.
What does my generation look for in a life partner ? What follows is what is got from the profile of a friend. The romantics among us might relate to this instantly. My apologies to the person for not taking his permission and infringing his copyright, but I can't express it any better than reiterating the words of the author.
=============================
Books that I have half finished with me - The Six Thinking Hats , 48 Laws of Power
What does my generation look for in a life partner ? What follows is what is got from the profile of a friend. The romantics among us might relate to this instantly. My apologies to the person for not taking his permission and infringing his copyright, but I can't express it any better than reiterating the words of the author.
"There will be ups and many downs in whoever chooses to come along with me in my journey, and i am looking for someone with a strong will. I'd prefer a smart, confident and sensitive life partner. It would be wonderful if she knew herself well.All the best to you too dear friend and to everyone else who is going through a similar phase. May each one of us get our the person of our dreams.
...................
I would prefer an intense/aggressive/outgoing person, but i am very open to a calm and sober person, provided her strength reflects in her attitude and convictions. I am fairly cosmopolitan ........................and have a post graduate degree in management from a well known b school. .................... pretty experimentative with life.
.................
All the best in your search".
=============================
Books that I have half finished with me - The Six Thinking Hats , 48 Laws of Power
Wednesday, October 12, 2005
ART - My second play in Delhi
Mumbai introduced me to the play culture. Saw a few of them during my summers. Once you come back from Mumbai its everyone's pet peeve that Delhi does not offer similar avenues for an evening out as Mumbai does.
Anyways yesterday went for my second play in Delhi. 'Art' a French play translated into English with lead performances by Sumeet Tandon and Suhel Seth
Found this while googling for a review. It must consider my self lucky :P . It did manage it cheap considering it must have cost me a fortune to watch it at Illinios Theatre Center where it is being staged in January 2006
This brilliant Tony Award winning comedy examines the questions of “What is friendship?” and “What is art?” Three men, longtime friends, clash over the artistic and monetary value of a large white-on-white painting one of them has purchased. An internationally acclaimed hit, “ART” is intelligent, thought provoking, and wildly funny at the same time.
But funny it was and teh show made for a great evening. In the process got introducted to 'Kamani Centre' The have next week's schedule on theire website so you can plan ahead.
What I missed - I really want to go and see a Durga Pooja. Thought about going today but, missed it this year. Would definitely won't want to miss it next year. My bong friends are you listening.....
Anyways yesterday went for my second play in Delhi. 'Art' a French play translated into English with lead performances by Sumeet Tandon and Suhel Seth
Found this while googling for a review. It must consider my self lucky :P . It did manage it cheap considering it must have cost me a fortune to watch it at Illinios Theatre Center where it is being staged in January 2006
This brilliant Tony Award winning comedy examines the questions of “What is friendship?” and “What is art?” Three men, longtime friends, clash over the artistic and monetary value of a large white-on-white painting one of them has purchased. An internationally acclaimed hit, “ART” is intelligent, thought provoking, and wildly funny at the same time.
But funny it was and teh show made for a great evening. In the process got introducted to 'Kamani Centre' The have next week's schedule on theire website so you can plan ahead.
What I missed - I really want to go and see a Durga Pooja. Thought about going today but, missed it this year. Would definitely won't want to miss it next year. My bong friends are you listening.....
Monday, September 19, 2005
Life After B-School
The difference in life in a b-school and life after that
a) In a bschool you pay to get educated, after b-school you are paid real world experience.
b) In a bschool you stay up late in the midlle of night to watch movies. After b-school people go out and watch movies in office time or better still spend those normal hours the office cafeteria; and spend late nights working on that presentation because that is the only way your boss will believe you work hard.
c) In a b-school you pay to take a flight and travel. After b-school the company pays for your flight and sometimes even boarding & loading. This happens as long as you get up at groggy ungodly hours of the morning to catch that the flight for some good-for-nothing-meeting & then catch a flight back at the time when should actually be hitting the club to finally reach back home in wee hours of the morning.
This is series one. Will post some more as reflections on my years of work experience.
a) In a bschool you pay to get educated, after b-school you are paid real world experience.
b) In a bschool you stay up late in the midlle of night to watch movies. After b-school people go out and watch movies in office time or better still spend those normal hours the office cafeteria; and spend late nights working on that presentation because that is the only way your boss will believe you work hard.
c) In a b-school you pay to take a flight and travel. After b-school the company pays for your flight and sometimes even boarding & loading. This happens as long as you get up at groggy ungodly hours of the morning to catch that the flight for some good-for-nothing-meeting & then catch a flight back at the time when should actually be hitting the club to finally reach back home in wee hours of the morning.
This is series one. Will post some more as reflections on my years of work experience.
Life Outside Office
I look at my social accomplishments chart for this month. Two movies & two books. Pretty decent. I have been making good use of my time outside office. Have met my old college friends too.
The two months that I saw this month have both been ok. In fact Iqbal was a really good one. A simple yet powerful tale. Highly recommended. Nasserudin Shah's performance is amazing
The other one Salaam Namaste was a typical Hindi movie. The fast half is good, fast and thrilling. The second half was a shouting competition between Saif and Preity. And lots of tear-shedding
Watched Skeleton too a few days later. I love scary movies but this one was ordinary. Yes, there is a suspense and a twist in the end which the director tried to do it the Shamalayan way but my rating - Ordinary stuff.
On October 2, I saw the - "Maine Gandhi Ko Nahi Maara". - Urmila and Anupam Kher. If one thing you can watch the movie for is Anupam's acting. Classic , simply amazing. Reminds me of Saaransh (tale of a old father and the anguish he goes through in getting his dead son's remains released from Customs). In MGKNM, Anupam's portrayal of man who is guilt ridden because he killed Gandhi is touching. Urmila too has really come of age since her Rangeela days.
In all I have done a lot of work, beyond office
==============================================
Books that I read last month - Tipping Point & The Alchemist.
I am far from competing with some fellows who claim to be reading two or three books in parallel but I try to console myself - after all I am working hard in office too :)
The two months that I saw this month have both been ok. In fact Iqbal was a really good one. A simple yet powerful tale. Highly recommended. Nasserudin Shah's performance is amazing
The other one Salaam Namaste was a typical Hindi movie. The fast half is good, fast and thrilling. The second half was a shouting competition between Saif and Preity. And lots of tear-shedding
Watched Skeleton too a few days later. I love scary movies but this one was ordinary. Yes, there is a suspense and a twist in the end which the director tried to do it the Shamalayan way but my rating - Ordinary stuff.
On October 2, I saw the - "Maine Gandhi Ko Nahi Maara". - Urmila and Anupam Kher. If one thing you can watch the movie for is Anupam's acting. Classic , simply amazing. Reminds me of Saaransh (tale of a old father and the anguish he goes through in getting his dead son's remains released from Customs). In MGKNM, Anupam's portrayal of man who is guilt ridden because he killed Gandhi is touching. Urmila too has really come of age since her Rangeela days.
In all I have done a lot of work, beyond office
==============================================
Books that I read last month - Tipping Point & The Alchemist.
I am far from competing with some fellows who claim to be reading two or three books in parallel but I try to console myself - after all I am working hard in office too :)
Sunday, July 24, 2005
The Grind - Getting into the corporate groove
Finished B-School and joined corporate life. Just realized that 'the grind' I was waiting for is right here. Its hectic, its tense and there is a lot of pressure. Pressure to meet targets & perform. Its amazing because there is so much excitement in the air. I love the place where I work and the people with whom I do my job, I don't recall anyone telling me anything other than taking things as a learning opportunity. But the place is so charged and people are running so fast that there is a natural instinct to run, to beat, to achieve. Everybody talks in terms of over achievement of targets.
Now I know what all those talks meant. A growing sector, liberalization affect, changing perspectives and all those things. I discover something new and different everyday. But is comforting to talk with my fellow management trainees. It just helps to know that there are people going through the same 'teething problems' as I call it.
As compared to this business school was a cake walk. As a friend of mine in Bombay said, " A sales job or sales stint develops a new respect for people in your eyes."
And for another friend of mine.. THE GRIND is right here and.., I am loving it
For others I work in the financial services sector & and apart from my primary job do Investment consultation/Tax Planning for free. Do contact me.
Till I am this free again, adios... and wish me luck
======================
Book that I am reading these days - 'The Tipping Point'
Now I know what all those talks meant. A growing sector, liberalization affect, changing perspectives and all those things. I discover something new and different everyday. But is comforting to talk with my fellow management trainees. It just helps to know that there are people going through the same 'teething problems' as I call it.
As compared to this business school was a cake walk. As a friend of mine in Bombay said, " A sales job or sales stint develops a new respect for people in your eyes."
And for another friend of mine.. THE GRIND is right here and.., I am loving it
For others I work in the financial services sector & and apart from my primary job do Investment consultation/Tax Planning for free. Do contact me.
Till I am this free again, adios... and wish me luck
======================
Book that I am reading these days - 'The Tipping Point'
Monday, May 30, 2005
The knowledge economy/software boom
This will be an eye opening reading for many. That Indian IT story is big no doubt and we often get carried but this ET article carries the point home. The Indian IT story is still minisicule as compared to the old economy. For a starter, one old economy company and a PSU at that, has higher net profit than our top 5/6 IT companies combined. Today when new age IT companies celebrate their topline touching billion dollars , its bottom line is touching a billion.
This is not a stock recommendation for SAIL but the point is Indian old economy has carried this nation this far and is still going equally strong. Not to deny the Indian service sector its due, it is high time we realize the contribution of old economy sectors and the PSUs.The ET article by the way is here.
This is not a stock recommendation for SAIL but the point is Indian old economy has carried this nation this far and is still going equally strong. Not to deny the Indian service sector its due, it is high time we realize the contribution of old economy sectors and the PSUs.The ET article by the way is here.
I am still here
This seems more like an outcry. Checked my own blog to find out that laziness has got the better of me . My last post was almost three months back. Looks like ages.
Here I gear for another phase of life. Xl is over and those two years have become a unerasable part of my life. When I got in a busines school I never realized the impact it will have on me as a person and the opportunity it beheld.
Today I gear to embrace another phase of life as a working professional with a lot of anticipation and excitement. Its another few days to my joining and I plan to be back to blogging regularly..
Till then adios..
Here I gear for another phase of life. Xl is over and those two years have become a unerasable part of my life. When I got in a busines school I never realized the impact it will have on me as a person and the opportunity it beheld.
Today I gear to embrace another phase of life as a working professional with a lot of anticipation and excitement. Its another few days to my joining and I plan to be back to blogging regularly..
Till then adios..
Monday, February 07, 2005
Those compensation packages - HR proposes; FM disposes
The B-School placement season is on. Its a mutual selection process. Companies make a sales pitch in their presentation to attract 'the right kind of people' while candidates put in a fight for the companies they want to get in. One parameter that every company which makes a presentation on campus gets evaluated on is compensation package. It would definitely figure into Top 5 (I am more tempted to right 3) for every individual. The Buzz this year (or maybe every year for all I know) is flexible compensation packages or cafeteria benifits. Most companies seem to provide compensation packages where in you can structure the package (apart from certain specified components) so as to suit your life style. The idea you can minimize your tax liabilities the way you want. Companies also offer perks, which if paid in terms of cash would be subject to IT deductions.
But for all you know - The company HR/salaried executive proposes - FM disposes.
Just read this article. The gist is this. It seems the Fin Min is planning to bring all those perks (specifically credit cards, club memberships, tranport - company owned car & chaffueurs, Health clubs etc) under the tax scanner. So a friend of mine who works in this world's most dominant software company whose products run more tha 90% of PCs and claims he enjoys perks above 50% of his salary, might be in for a shock after the budget.
So could we. Most of will be getting our first salaries in June/July. The rule sof the game might have changed by then.
The article is here
But for all you know - The company HR/salaried executive proposes - FM disposes.
Just read this article. The gist is this. It seems the Fin Min is planning to bring all those perks (specifically credit cards, club memberships, tranport - company owned car & chaffueurs, Health clubs etc) under the tax scanner. So a friend of mine who works in this world's most dominant software company whose products run more tha 90% of PCs and claims he enjoys perks above 50% of his salary, might be in for a shock after the budget.
So could we. Most of will be getting our first salaries in June/July. The rule sof the game might have changed by then.
The article is here
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