Shroud of a Shawl

IIPM PUBLICATION
Bestowed with underfur-so-fine – approximately one-sixth of the human hair – the Chiru’s pelt is highly coveted for weaving shawls which drape the so-called cognoscenti crowd of the society. Procured not by shearing but killing, the wool of a minimum of three antelopes is required to create the softest and warmest of winter wraps costing an average of five lakhs! Given its disconcerting status in CITES pointing to its numbered few existence, it would not take rocket science to prove that the plight of the weaver community, who the honourable Member of Parliament sure means well for, would relapse to no better than it is now, were she to have her way. Says fashion designer Jattinn Kochhar, “Though I feel that the shawls, now in the heirlooms of some, must be preserved as precious souvenirs, there is just no fashion which mandates such merciless bloodshed.”

It might thus do well to get our facts right before the ministration of such self-defeating drills.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

Turmoil Nadu...er, Tamil Nadu!

IIPM BEST B-SCHOOL
The first phase of elections were held in 45 municipalities, 281 town panchayats and 195 panchayat unions. Jayalalitha accused DMK workers of bogus polling and rigging. Karunanidhi retaliated by accusing the opposition of instigating violence during the first phase of the local elections. Factually, violence, booth capturing and rigging marred the Chennai Municipal Corporation elections, although allegedly rigged places, like the Tuticorin district, where poll turnout was 61%, had Collectors like R. Palaniyandi denying any allegation of bogus polling. He asserted, “The verification revealed that ballot papers used in the poll process commensurate with the total votes polled in the Ward.” And now, with Ramadoss’ PMK breaking out of the DMK alliance on October 30, 2006, Karunanidhi would only improve upon the strategy he used to win the previous elections – inanely giving away freebies at the cost of the exchequer. Perhaps he doesn’t realize that even states with 100% literacy (like Kerala) have gone bankrupt on the back of such similar measures. And it wouldn’t take Tamil Nadu that long to capitulate. But hey, who cares, now let’s give them all trips to Switzerland, shall we?

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

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A new future for futures

IIPM PUBLICATION
CME Group Inc. will definitely be more appealing to commodity traders, especially those dealing with oil. The merger reinforces Chicago’s monopoly on commodity trading. Mandloi adds, “Chicago is a centre of commodity activity because of factors like levels of consumption, participation and general hedging. More so, there is more liquidity in the market with higher derivatives.” There are negatives too. With more liquidity & options, critics fear a huge rise in speculative trading, which could send commodity prices to dizzying heights, and that’s when chances of a crash are higher.

However, that’s the nature of markets and in anyway cannot make this merger look impractical. The city of Chicago is one of the most critical financial and business centres of America and trading here is more oft en in response to actual need rather than pure speculation. So it’s bounty time for investors on the Globex in Chicago, as they would now be trading on the world’s largest and most liquid commodity exchange.

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Source : IIPM Editorial, 2006

Initiative :- An IIPM and Management Guru Professor Arindam Chaudhuri

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Lucent posts goodie results!

IIPM BEST B-SCHOOL
Lucent Technologies has all the reasons to feel happy with the announcement of its wonderful fourth quarter and fiscal year results, ending September 2006. The company reported revenues of $2.56 billion, a sequential increase of 25% over the previous quarter and a rise of 5% when compared to the corresponding period last year. However, its net income declined marginally from $372 million a year ago, to $371 million. On an annual basis, Lucent pulled in $8.80 billion in revenues in 2006, screening a decrease of 7% from $9.44 billion in 2005. Besides, Lucent hopes to close the merger with Alcatel as the transaction got shareholders’ approval of both the companies on September 7, 2006.

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Source : IIPM Editorial, 2006

Initiative :- An IIPM and Management Guru Professor Arindam Chaudhuri

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A commodious collapse?

IIPM PUBLICATION
Before moving ahead, for a better comprehension of this downturn, it’s imperative to understand how this bull run took effect. First of all, China and other emerging economies have played a great role in this commodities bull run. China alone has contributed almost all of the total increase in lead and nickel consumption globally. In case of aluminium and steel as well, China has consumed as much as 50%, which is quite high as compared to China’s contribution to global GDP growth and total world output (IMF Global Financial Stability Report, September 2006). Secondly, today commodities are seen as an asset class and speculation by investors has also played its part in jacking up the commodity prices. Furthermore, the period in consideration was marked by some ultra loose monetary policies & low interest rates, making it easier to invest and speculate in commodities. Since 1995, number of contracts in NYMEX oil futures increased by almost 400%. Also, the number of non-commercial contracts in (long and short) increased to 16% from that of 9% during the same period.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

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