Seagram heir dives into trouble...

IIPM BUSINESS & ECONOMY

Seagram liquor got into controversy when Edgar M. Bronfman Jr, heir to the Seagram liquor fortune, was sued for $100 million by Richard E. Snyder, former Chief Executive of the publisher Simon & Schuster. Snyder claims that Bronfman failed to pay him his dues for advising him on a $2.6 billion takeover of Warner Music group. Though the agreement was not a written one, Snyder was hoping for Bronfman to honour it with the venture being a success. Bronfman’s lawyer Orin Snyder, however, was confident that the truth would only prevail in court.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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IIPM Press Release :- Something “Phishy”

IIPM BEST B-SCHOOL

“Phishing” (a variation of fishing) is the term used for hackers who imitate legitimate companies and give “bait” to people to share their passwords, credit-card numbers etc. And invariably, online banking is the most popular target of these “Phishermen”.

CERT-In (Indian Computer Emergency Response Team) phishing report 2006 says that during the last 6 months, the number of reported attacks went up by 94% and 36 of those were targetting sites in the .in domain space. US financial firms were targets of 94% of the phishing attacks, while Indian brands represented only 2% of the same. F-Secure, a corporation that protects consumers and businesses against computer viruses and other threats, has come up with a valid suggestion. They recommend introducing a .safe domain name to be used by registered banks, which would allow security providers to create better software to protect the public.

“While a .safe domain name won’t prevent phishing attacks, it will help banks and security providers to give their customers the needed reassurance while banking online,” said Patrik Runald, Senior Security Specialist at F-Secure. So, here’s a word of advice for all... Don’t bite the bait, and beware of “phishermen”.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The last Emperor of Detroit...

IIPM Publication

One of the first bidders for the company has been none other then Kirk Kerkorean (of GM fame). The billionaire investor has offered $4.5 billion for the ailing company through his investment firm, Tracinda Corp. Interestingly, the United Auto Workers (UAW) union has supported his bid as well, and he is now seeking negotiations with Chrysler workers. Apart from this veteran investor, other bidders include the automotive parts maker, Magna International and PE firms including Blackstone Group and Cerberus Capital Management. Adding to this excitement are a group of Chrysler workers, who are seeking a stake in the company. Amidst this hoopla, Chrysler has also announced a huge $1.78 billion investment for its Michigan plant. It is believed that Chrysler wants to maintain investor confidence with this announcement.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Fixed or floating?

IIPM BEST B-SCHOOL

So what’s the final take? Should it be ‘fixed’ or ‘floating’? Amit Saxena, CEO, Planman Financial, has an innovative, yet well practiced take, “With inflation on a continuous high, it won’t be surprising for RBI to not only further raise rates across the board, but also to increase the CRR, thus forcing a larger liquidity crunch, consequently resulting in another rate hike. Ergo, borrowers should lock into a ‘fixed’ loan schedule immediately.” But what if the rates come down in the future? Saxena shoots back, “Simple! Immediately take a new ‘floating’ loan from another bank, and pre-pay the previous loan that you’d taken on a ‘fixed’ basis.”

And that, dear Shylock, is the most intelligent solution for any individual wishing to take a loan in current times, as most banks have a scheme where they allow borrowers of other banks to transfer their complete loan schedules lock, stock and barrel from another bank.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

The stone age!

IIPM Publication

Now, let’s take a look around the rural centres. Much like the big cities the rural sector too is demanding more power from the government. Punjab has urged the Union Power Ministry to allocate additional 325 MW power from the un-allocated quota of the central power stations to help it overcome its energy deficit and unmanageable electricity demand during the paddy season of June-September 2007. The reason behind such chronic power shortages are the state-owned centralised power systems, which have traditionally remained mired in mismanagement, corruption, and debt. That is the precise reason, why influential multilateral agencies such as Asian Development Bank and World Bank, have come up with a cure-all panacea ‘privatisation and deregulation’ in our country.

The state ownership versus privatization debate obscures the complexities of the crisis of power generation and proper delivery in the predominantly rural agrarian economy of our country.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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IIPM Publication :- The legendary Hungarian hospitality
IIPM & 4Ps Release :- Search me if you can, lazy bones!
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‘jet’-lag redefined...

IIPM BEST B-SCHOOL

A year back, the acquisition would have led to a thumping control of 47% of the domestic market. Today, the situation appears cheerless. With Sahara’s market share having fallen to 8.2% coupled with Jet’s market-hold plummeting to 25.5% (on January 31, 2007), the combined entity commands just over 32.7% – less than what Jet alone could boast of last year! Adds Capt. Gopinath, “Sahara’s market share of 6-8% is on account of indiscriminate & unsustainable pricing. It will not really add to Jet’s market share...” The only clear benefit is that Jet gets parking bays, especially on the Mumbai-Delhi route, which is also the busiest in India.

Two short-term capital requirements are likely to make matters worse. There’s the much-needed Rs.4 billion infusion to revitalise the Sahara (for maintenance, repairs, upgradation & re-branding of the airline) added to its $2.1 billion investments for acquisition of twenty new aircraft s by 2008-09. Jet’s international operations suffered from losses of $8 million for the nine months ended December 2006.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative