Law is an Ass

I have always held the view that the root cause for India's problems are the lax judiciary. It takes ages to get a verdict and when it comes it has no meaning whatsoever. Then the never ending delays due to appealing at High Court and Supreme Court Starts. One can get away with anything, including murder. And whoever said, 'Justice delayed is justice denied' must be turning in his grave at least as far as Indians are concerned.

A recent survey showed that it will take 466 years for ALL the CURRENT CASES in Delhi High Court were to be cleared with the present infrastructure. If this is not bad enough, the worse is yet to come. Once you are lucky enough to have your case being heard, the Delhi High Court takes 4 minutes 55 minutes ( true, only four minutes and 55 seconds) to hear the case and give a verdict. As I said before, the accused can THEN appeal to the supreme court.

What triggered the chain of thought about this ridiculous state of affairs is the recent conviction of an Ex Union Minister, Sukh Ram in a case of possessing disproportionate assets. The case started in 1996 when Sukh Rams house was raided by CBI who recovered Rs 2.45 crores (this was a pretty big amount in 1996) of unaccounted money from his house in Delhi and a further Rs 1.16 crores from his house in Mandi, Himachal Pradesh.

I am reproducing the chronology of events of this case from a newspaper verbatim as it is typical of any case in India,
Following is the chronology of events in the disproportionate assets case against former Union Minister Sukhram:

Aug 16, 1996: CBI recovers Rs 2.45 crore from Sukhram's official residence at 12, Safdarjung Lane here and Rs 1.16 crore from his house in Mandi in Himanchal Pradesh.

Aug 27, 1996: CBI registers FIR against him under the Prevention of Corruption Act.

Sep 18, 1996: CBI arrests Sukhram.

Oct 16, 1996: Sukhram gets bail.

Jun 9, 1997: Chargesheet filed.

Jul 10, 2001: Court frames corruption charges.

Oct 30, 2001: Court starts recording evidence.

Nov 6, 2004: Former PM P V Narasimha Rao records his testimony as a witness in the case.

Apr 13, 2007: Recording of testimony of prosecution witnesses concludes with examination of 64 witnesses.

May 18, 2007: Sukhram answers court queries based on evidence against him.

Jul 20, 2007: Defence starts recording statements of witnesses.

Nov 7, 2008: Sukhram gets 16 witnesses examined in his favour.

Dec 2, 2008: Final arguments start.

Feb 17, 2009: Special CBI Judge V K Maheshwari reserves verdict after the conclusion of final arguments.

Feb 20, 2009: Court convicts Sukhram in the case and says quantum of punishment likely to be pronounced on February 24.

Feb 24, 2009: Court reserves its verdict on the quantum of punishment after CBI seeks the maximum punishment of seven years for the former minister.

Feb 25, 2009: Sukhram sentenced to three years' imprisonment and told to pay a fine of Rs two lakh. Court also orders forfeiture of his disproportionate assets worth Rs 4.25 crore.

If you thought after 13 long years justice has been finally rendered, you are wrong. Sukh Ram who was 69 when he was caught, is 82 years old now. He was granted bail immediately on verdict being pronounced so that he can appeal to the High Court in Delhi. And as per the survey, his case is likely to be disposed off in year AD 2475. Sukhram will be a very young man aged 548 years! And if he gets an adverse verdict then, he can go to the Supreme Court!

Charles Dickens must have been a visionary looking into a crystal glass at India of 2009 when he made the statement "Law is an Ass" in Oliver Twist

Gold and Dollar

I have seen two comments in my previous post asking me for the reasons for the rising gold prices. Thought I will give my answer as a post rather than as a reply in the comments section.

Historically, Gold has always been found to be a safe bet whenever there is an economic downturn. People have a psychological feeling that the yellow metal is a safe haven in troubled times. And they are correct.

In the current scenario of global financial meltdown, there is hardly any other option available for the investor. He doesnt see much logic in investing in Stock market which is at rock bottom currently, the real estate has been badly hit, banks and financial institutions have lost their credibility and also the interest rates are so low, it doesnt make sense to lock your money in bank savings.

So what is the alternative? Only gold. Apart from the retail investors, the institutional investors are also buying gold in large quantities as they do not trust the valuation of any other asset. Added to this, the oil prices are at a rock bottom. Again traditionally, gold prices are inversely linked to oil prices.

Finally, the production of gold has stagnated during the past few years. Supply constraints and demand increase obviously means rise in prices of gold.

But I guess, we have reached the peak of the curve at least for the time being. You can see some stabilization in the near future at slightly lower prices.

Dollar story is different. Technically, the dollar should have weakened in view of the huge US Treasury deficits and the economic bail out package of $ trillion which is mainly funded by printing dollars. But various countries are flush with dollars and with Euro weakening, these countries are hoarding dollars in the short term as keeping the investment in Dollars has been a comfort zone for many.

But beware. Dollar is fundamentally very weak now. Once these countries see the futility of hoarding dollar (that has resulted in less dollars in circulation) and starts opening up their strings, and once the newly printed notes as bailout package is actually in ciculation 3 months down the line, you will see a sharp crash in dollar's exchange value. With the United States grip over global economy dwindling, it is unlikely that US can browbeat other countries to support their currency. Only thing that is preventing a dollar collapse is the utter mismanagement of Euro and the fact that Yen is also under severe pressure. China and India have a vested interest in keeping the dollar rate artificially high, as they depend extensively on the export income.

My advice - This is the time to sell gold and book the profit. If you have dollar holdings, liquidate them, and stay away from US Dollar in the medium to long term.

Of Poverty in India

I have always been a stringent critique of Congress governments for whom duplicity is a way of life.

The current UPA government, headed by the Congress, came on a platform to serve the 'aam aadmi' in 2004. The Government and the Planning Commission has been screaming from the roof top that the Poverty in India has declined during this regime.

But the data released by Indian Statistical Institute, a Government body, based on a survery, nails this lie fair and square. The findings show that the number of people Below the Poverty Line in India is now 325 million, an increase of 55 million or 20% from its figure of 270 million in 2004.

This means that number of people below the poverty line has increased by 4% per annum, while the population has grown at <>

Is there a vested interest in keeping people poor. Nearly 30% of India's population lives below the Poverty line. Though World Bank defines the poverty line as those who are earning less than $1 a day for India (<>

Not a comforting thought.

You should have heeded my advice to invest in Gold.

This blog advised you two months ago to invest in Gold. Since that day, Gold prices have appreciated by 41%. Imagine making a return of 41% in two months in these troubled times! Gold is at an all time high. Gold was selling at KD 6.500 per gm in December. Now it is KD 9.500 per gm.

Though indications are that it will increase further, my advice now is to refrain from investing in Gold now. The curve is at its peak.........well, almost.

Grandmother was more eco friendly than us

My grandfathers house was in an Brahmin agraharam in Kollengode in Palghat District. We had one of the better houses in the Village. 64 houses in two rows, with the Lakshminarayanaswamy temple at one end, the Perumal kovil village even today is vibrant, though the brahmin families are long gone.

The house was almost a closed system. There was a well (though the water was hard) in the compound, the 'rendam kollai' had enough space for couple of mango trees, mehandi tree, vegetables, the inevitable 'keera paathi' ( where a version of palak was cultivated), the cow shed had 3 cows that gave milk (for personal use and as a revenue generating model that enabled my enterprising grandmother to sell milk and laban to neighbours) and cowdung, that was used as a manure for all the trees, there was a 'marthangalikkai' plant, tomatoes, green chillies, ladies finger,......... the list was endless. Then there was the 'nadu muttam' where the roof slanted to give a huge opening. This was meant for rain water harvesting. The rain water that fell on the roof was collected in the sump constructed in the front hall for that purpose. This opening also allowed sun light to illuminate the house. Grandmother used to make 'vattals' (a dried version of vegetables soaked in laban, that when dried can be roasted in oil) and 'Vadaams' (rice pappad). And she used Solar energy to dry them.

I am reminded of all these when modern management gurus talk of Solar energy, rain water harvesting, leading an environmentally friendly life and so on. These were all practiced for centuries by our forefathers as a way of life. In the quest for modernity we disregarded them, only to realize our folly and revert back to them much later paying a very high price.

Are we not reinventing the wheel?

Round up

Happenings around the world and my take on it,

Monkey cartoon sparks racial row in US - Was Harbhajan in USA of late?

Rush to India, PwC tells global companies - What is left unsaid by Pricewaterhouse Coopers in that report is " and then make us your Auditors, for we shall help you cook up Balance sheets so that you can hoodwink the Indian investors, regulators and government with impunity"

Azharuddin, the former Cricket Captain, who was banned for Match Fixing to join Congress Party - Umm...........birds of a feather flock together.

An enraged pilot reportedly dropped his pants in front of the Airport security staff after losing his cool with the regular security search procedures before the flight - I admire the guy. Of late I myself had wanted to do this, for the security check is a sham and doesnt serve any purpose. It is so suffocating and nonsensical.

Words must be filled with beauty and courtesy

"Sri Rama used to capture the hearts of his people by his smiles and soft-spoken words. It is said that one's words must be filled with beauty and courtesy. Harsh and cruel words must not be used. It is ideal to have austerity of speech, body and mind. While good conduct, control of the senses, non-violence, the service of elders are described as the austerities of the body, self-control and purity of heart and mind are austerities of the mind. Even here, if these are tainted in the least by vanity and pride, they lose their purity and sanctity"

How I wish I could be soft spoken and less hurtful of others! (Sigh)

Mabrook!

I am genuinely happy for Martin and his team at Gulf Centre for University Education, the IGNOU Study Centre in Kuwait. They just won the inaugural Gold Medal given to the best overseas IGNOU Partner Institutions, beating the other 54 in different countries hands down. The evaluation procedure was quite comprehensive. This is a just recognition for the selfless service done by Martin especially, and his team over the past decade and a half.

The beginning was modest. They faced many problems on the way. Lack of support from the Kuwaiti sponsor, apathy of students, economic downturn pre 2003 in Kuwait, non availability of good faculty, cash flow problems - the list is endless. But through all these, they stuck to their task and when the turnaround came in 2002, it was a big relief in more ways than one.

Kuwait centre is by far the best organized IGNOU study centre in Middle East (I can vouch for only middle east as I dont know about those in other countries. But IGNOU avers that they are the best amongst ALL overseas study centres in Asia and Africa). I have personal knowledge of the amount of organization that goes into running the centre that has nearly 500 students of both IGNOU and MKU. Having been an NIIT franchisee for 6 years in India, I know the amount of headache one gets while running an education service centre. One can never sleep in peace. That is the bane of services industry. People do not notice the efficiency when things are running smoothly. They take it for granted. But it needs a hell of a lot of effort to make things work seamlessly. Though not many know it, Martin is considered to be the one point knowledge centre for all the other Study Centres in Middle East. They turn to him for advice and leadership.

It is my privilege to have been associated with the Study Center since 2001. The Center has done yeoman service to the expat Indian Community over the years. For the saying goes that "Vidya Dhanam Sarva Dhanal Pradhanam'. The Centre has made many richer in more ways than one, both culturally, monetarily and in many other ways.

I have the honour of having known Martin personally for 8 years and no one deserves the award better than him, for his service orientation, problem solving skills and inter personal skills are excellent. And it is no easy task handling my dear students (they in turn will tell me that it is no easy task to handle ME) , and I can tell this with conviction. Lack of hair in my head and the fact that I am taking 2 BP tablets a day is testimony to it :)

Martin has always been quite supportive of all my hare brained schemes aimed at 'improving' my MBA students. Whenever I despair at the lack of response and about to put a full stop to all co-curricular activities, he will gently point out that I should concentrate only on those who are interested and benefitting of all these events and not to worry about those who dont. Also, he has never interfered in my strict evaluations of any Internal Assignments, though many times he has a difference of opinion to mine. I respect him for that.

Here is wishing Martin and his team many more years of glorious service to the Indians in Kuwait.

Murphy's law in full force

Murphy's law states that

'Anything that can go wrong, will go wrong'

Today is one of those days, when Murphy's law hit me with full force.

So apologies. There wont be any blogging today

Put your hand up please!

Never be afraid to grab an opportunity or to take a chance. Put your hand up during class even when you’re unsure of how ridiculous your answer will sound; chances are that 1/3rd of the class is thinking the same thing! Don’t worry about being found out to be wrong; a wrong answer is just as valuable as a right one. There is a chance that you may get a leg pulling from me. But that is to make you think and perform better. I always like students who answer than those who don’t. I like those who take initiative than who don’t. I like those who make a sacrifice so that others benefit, rather than a student who might be brilliant academically but very self centered. I would rather my students take 10 decisions and make 9 mistakes than not make any decision at all. I am tough on students whom I like, because I want them to stretch further. In fact I am very tough on myself, and I am my own biggest critique. Good managers are often successful because they take chances and are not afraid to go against the grain in the board room; test drive this philosophy in the classroom! Management is a way of life. One needs to be professional in every small thing one does.

All of my students are leaders, one way or other. There is eagerness in everyone to lead in some capacity or another. Learning to lead without necessarily being the leader is a very powerful concept. Challenge yourself to figure out how you can help your peers and make a positive impact in the class. Be there for your colleagues when they need you most, and share your talents and gifts; doing so will earn you respect and increase your influence in the classroom. Do not live in a world of your own. I have heard many people complain to me that ‘no one helps them’. I always counter it with a question ‘How many people have you helped?’. Always think what you can do for others, not what you can get from others. Also, do not ask the question ‘Why should I?’. For a change, ask yourself ‘Why shouldn’t I?’

Last but not the least, set apart some time to develop knowledge every day. In today’s knowledge economy your knowledge level alone matters. If you do not upgrade your knowledge on a daily basis, you will be left behind in no time. No amount of degree certificates or working years will help you. Also, keep on honing your soft skills. Apart from the fact that I enjoy teaching, one of the main reason I teach is that it helps me improve my communication skills, sharpen my ability at repartee, makes me think on my feed, helps me explain my thoughts in an organized manner and finally gives me terrific confidence. I have accomplished much, and I can easily sit back and relax. But I push really hard. That is the only way to be ahead in the rat race.

AWOL till Sunday

Am taking a couple of day off from blogging due to personal reasons. Blog will be back by Sunday afternoon

Managing the Expectations

I am a passionate lover of Carnatic Music. I do really get irritated when I for a concert and people near me talk during the song. In some old halls, they used steel chairs in 1990's. People pushing the chair back is such a disturbance that I used to look daggers at them. That is not the point, I want to make here.

The audience in a concert hall comprises of connoisseurs of good music, average rasikas who are at a much lower lever technically and the layman, who just likes a less technical but more ranjaka rendering.

Someone like S Balachander, Dr.Balamuralikrishna, Dr.S Ramanathan, M D Ramanathan, Mani Krishnaswamy do not make compromises. They sing targeted at the connoisseur. Musicians like Kunnakkudi, Mandolin Srinivas, Kadri Gopalnath targets the average singer and in Kunnakkudis case, even the layman. Majority strikes a balance between the two like T N Seshagopalan, Maharajapuram Santhanam, Gayathri, Sowmya, Sudha Raghunath. But at heart I have understood at the despair in compromising on their music. But they either sing for themselves or are happy if the connoisseur (at most 5 in a hall of 500) goes home satisfied.

I have been frustrated at the lack of response of my MBA students in the Class. 99.99% walk into the class without reading a word on the subject, the business GK is next to zero and all my efforts to make them understand the importance of Business knowledge falls on deaf years. It can be so frustrating, for one of the reason why one teaches is for his intelligence to be stimulated. This happens only when the student asks searching questions of the faculty. It has never happened in my a decade of teaching.

I was so frustrated (still am) that I just wanted to stop teaching. It was turning out to be a futile excercise. All the effort for nothing.

However, during the past one month, I have been getting some mails from an old student and couple of current ones, the contents of which made me realize that at least these students have been benefitted to some extend by my teaching. The clarifications raised by them were very valid and make me think.

Then I had to go to a B Com class yesterday. This was an emergency situation where I had to stand in for another faculty. Young students, barely 18-20. The two hours I spent with them changed my outlook. They were superb. Their thought process and knowledge of the fundamentals were way over what was expected of them. Before I even finished my questions, the answers were coming back at me, and more importantly the answers were bang on target. I was amazed. I cannot get my MBA students to open their mouth in the class. But these kids were gems. They were able to follow even complex macro economic concepts.

I regretted that I wont be able to continue taking classes for them. But it acted as a much needed tonic to make me rethink my decision to stop teaching.

These young kids and the other 3 students are like the connoisseurs. As a teacher maybe I should be satisfied if I can make a difference to a couple of people in life. It is all a question of managing the expectations

Spend recklessly, Print money and consequences be damned

What do you do when you dont have money? Well, you just Print them if you are the Government of India. With economic slow down, tax collection has been hit badly. Added to this, the populist schemes announced in the last budget and the implentation of the pay commission report has proved to be a big burden for the Government. But why worry? As long as you can print notes recklessly! The Printing press has been working overtime and is on the point of a breakdown. Till recently, the government had already "monetised" -- an euphemism for printing -- worth Rs 66,946 crore (that is 66946 followed by Eight Zeros) to make both ends meet.

Damn if it results in a higher inflation, as more money chasing same goods (or less goods as the economy has slowed down) will result in inflation. But the trick is that there will be a lag of 4-6 months before this happens. By then elections would have been over and hell with the consequences. It is somebody else's headache. The inflation is about 5% plus now. This will start climbing again by May 2009.

The subsidies, the loan waiver, refusal to rise the petroleum prices earlier, pay commission report implementation and unrestrained non plan expenditure has led to the revenue-expenditure gap as of the first 9 months of the fiscal year to a whopping Rs 2,19,000 crores approximately(official figure) , though in reality the actual figure is at least 50% more. The beauty is that the Budgetary provision of deficit for the whole year was Rs 1,33,000 crores. Since no one questions the performance of the budgetary projections with the actual figures, the Finance Ministry mandarins get away with murder. There is absolutely no accountability. Though everyone claims that the Narasimha Rao, Manmohan Singh duo did great things to liberalize the economy, what went unnoticed was that the fiscal indiscipline was noticeable when they laid down the office. History is repeating. But then it is not surprising in the least as no one cares about cost cutting, financial discipline.

The philosophy is simple: Spend recklessly, Print money, and the consequences be damned

Devil's own Country

The findings of Intelligence Bureau below is very disturbing.

"Kerala is a hot bed for terror-related activities and for the Lashkar-e-Tayeba, the dreaded terrorist outfit, it has been the gateway to south India. Setting up a base in Kerala was easy for the Lashkar. First, it exploited the state's communally-sensitive nature. Second, the Lashkar used the Kerala coast and its proximity to international waters to its advantage.The Malabar coast has been used for smuggling activities for decades, if not centuries, and this helped the terror outfits, the IB agents say. Oceanic routes are used to send cadres in and out of Pakistan and also to smuggle in arms and ammunition for terror- related activity.The first traces of a Kerala module came to light during the February 14, 1998 blasts in Coimbatore. The Al-Humma group, which worked under the Islamic Sevak Sangh's patronage, was blamed for those blasts. The Lashkar has also made Kerala a recruitment hub for its Kashmir operations.Two Kerala-based terrorists were killed in Kashmir some weeks ago, evidence of Malayalee involvement in terrorism. The Indian Mujahideen is said to have at least 18 modules and an equal number of sleeper cells in Kerala.The IM strongholds are Binanipuram, Kozhikode and Ernakulam, the IB agents add. Although the Bangalore blasts saw the emergence of the Kerala module, for the IM and its sponsor the Lashkar, it was more of a dry run.The merchants of terror wanted to test the capabilities of its Kerala wing. Second, it wanted to send out a signal to the governments in other southern states that it is capable of striking outside Hyderabad.The IB officers say there is a need to strictly monitor the Malabar coast and bust the IM modules in Kerala.The Lashkar, the IB sources believe, confronts a shortage of manpower in Kashmir and increasingly relies on IM cadres, especially from the south, for its terror operations in the valley."

This was predicted by quite a few of us more than a decade ago. The unlimited gulf money, middle east funded economy in northern Kerala, lack of education in Malappuram, the general drop in moral values that led to people resorting to any means to get rich quickly, politicians turning a blind eye to the growing trend towards terrorism, a crime laden society with crimes against women, goonda raj and political killings more of a norm than an exception, lack of economic development leading to unemployment which in turn led to restlessness amongst the youth - all these negated the excellent development the State has on other fronts. This is what happens to a State if it is not governed properly. Successive governments and the ministers never cared about Kerala as a whole, but were more keen on developing their vote banks that were based on caste, community and creed. It does take a genius bunch of political eunuches to destroy my beloved state. The news report above is disturbing. This was and is known to the powers that be, but they have refused to act upon it. I hope sincerely, for I love my State dearly, that it doesnt require a catastrophe to make people sit up and take notice.

Unbelievable

I can't believe the last paragraph,

Granted special class prisoner status on Friday, the brothers (Ramalingam Raju and his brother) will now get cots, pillows, mattresses, sheets, mosquito nets, a separate kitchen and toilet, jail sources said. The facilities go beyond bare necessities. ‘‘They can get newspapers and can smoke cigarettes or cigars if they wish to. They can also eat meat and fish everyday provided it is brought by their family members,’’ the source said. Apart from separate cots, pillows, mattresses, toilet, kitchen, there are other privileges that the Rajus can ask for. (Err! how about couple of nice women in the night?).

‘Like if they ask for a colour TV, it is the duty of the state government to provide it,’’ one official said. (Duty of the State Government to provide?- my foot)

The only facility they are denied is access to a telephone.

A Hyderabad lower court granted special class prisoner status to the Rajus few days ago. However, the order asked the Hyderabad collector, under whose jurisdiction Chanchalguda falls, to certify that the Rajus were used to a high lifestyle and should be accorded the same while in jail. After the collector certified the lifestyle, the court issued the orders which reached the jail on Friday afternoon. (So does it mean that if a criminal is not used to a high life style, he is not entitled for all these? So do we have one set of rules for the rich and one set of rules for the poor? I thought the detention was based on Crime and not ones status.)

This is democracy at its best!

Even Scums like Ramalingam Raju has apologists defending their actions

This article, which has been doing the rounds on the Internet, has been written by an unnamed Satyam employee. Though the writer tries to make a saint out of Ramalingam Raju by throwing mud on others, what he does unwittingly is to bring out the companys culture in its true colours. And he forgets the basic fact that it is the Founder and the CEO who actually decides what culture to have in his company. His lack of focus in this area has led to the employees behaving unethically. The article is reproduced in italics and my thoughts are in brackets in bold

At a time when almost 90 per cent of my Satyam friends are cribbing about the fraud and betrayal by (former Satyam chairman) B Ramalinga Raju, I have a slightly different opinion.
I know it is bold of me to write this in black and white, but this comes straight from my heart, and experience.

Let me start by quoting an example from 2006. Most of my friends were unemployed, with 50-60 per cent plus marks, with a B.Tech degree from an average university, and madly hunting for a job. Whether people accept it today or not, the truth is that Satyam was the ONLY saviour and the only mass recruiter who was ready to accept students who had backlog. It also did not put a very strict 'minimum-marks' criterion. (Here the writer is proudly hailing the fact that Satyam was the ONLY company to mass recruit very average and poor students. A student who has a backlog in his Engineering degree has to be a 'genius' for the only objective of all these Universities is to make as many students graduate as possible. One has to be downright dumb to fail in an Indian University Examination. The fact that Satyam was taking in students who had failed or has arrears reflects the poor benchmark set by Satyam in recruiting staff. No wonder, the company has some poor employees as will be revealed in the article later. Never ever compromise on quality while recruiting people. Also, did Satyam recruit these below average students so that they will demand less? Poor raw material results in poor quality finished products.)

And this was true not only for my small college in Lucknow, but also many such colleges across India.

Satyam is the fourth-largest IT company in India. Looking at India's population and the rising unemployment, I really want to thank Raju for giving some 54,000 Indians jobs at least for all these years. ( How many of them were productive?)

He was the reason for the revival of confidence and the reason for the bread-and-butter for many a family. ( If this logic is to be applied, then Dawood Ibrahim should be a God. Many families survive because of him. The fact that the heads of these families are pimps and murderers is an incosequential side issue)

Also, Satyam training was renowned all over India. The STC (Satyam Training Centre) created numerous love stories and unexpected rekindling of a youthful environment where girls and boys were more independent than in their colleges. (The writer doesnt write about the Quality of the training. It is revealing that the highlight is the 'free' and 'liberal' atmosphere in teh training centre. Was that the objective of having a STC?)

I remember most of my Satyam friends felt that they made better friends during Satyam's three-to-six month training than they did in the four years of studying B.Tech. (Again, making what comes out is Employees making friends!) .Unfortunately people forget to thank God in sad times. I know what Raju did is deplorable, and unpardonable. He should have treated the business more formally, and not dealt with it like it was his family affair.

He should have straightened up at least a couple of years ago. Why did he hire so many non-potential candidates and keep them on the bench? When were the managers last told that if they don't work hard, they will lose their job? (Note! There is no focus on performance and productivity). Business cannot be run in such a lousy fashion.I have a lot of friends at Satyam, both male and female. Moreover I network a lot and thus am fairly well clued into what is happening at the company.

I have seen how people tailgate to Satyam, how they give their cards to others to be swiped on their behalf, how female employees have gone home sharp at 6 p.m., irrespective of when they landed at the office. . ., how employees sit at home for months at a stretch, prepare for all kind of post-graduate entrance exams and still enjoy a full month's pay, how often they went for movies at local theatres at office hours, how often employees went to office just to sign on registers in the mornings and the evenings, how often they faked their health certificates, how often they put unlimited fake medical and house rental bills. . . (All the above shows total lack of moral values, ethics, professionalism and a laizzez faire culture where anything goes. If I were an investor in the Company, I would have been really worried with such indiscipline)

How can we blame just one man when EACH AND EVERY person was disloyal? (But who is responsible for creating such a culture. Definitely the founder. The wrong signals were sent out or at least the right signals were not sent out from the top. If I come late to the class, my students will walk in much later than that. And I wont have the moral right to question them. But when I start the class on time every day at 6.30 pm come what may, my students fall in line. It is as simple as that).How can we exclude the auditors like PricewaterhouseCoopers? (Who appointed them in the first place?. Mr.Raju). How can we exclude the then board of directors who tried to wash their hands off of the whole affair? (Who identified the Directors? Again Raju. AGM's are big hoaxes) . How can we exclude banks who gave hefty loans without true verification? How can we exclude the Andhra Pradesh chief minister who was lenient towards Raju ahd his fellow businessmen? How can we exclude the managers who were never able to trace which bench employee under him had been away from office and for how long? (Who recruited and trained these Managers? And why were there no system to measure accountability? Again Top Management led by Raju). Yet, how can people forget this is the same man whose ideas and potentials gave them an identity for the past several years? How many couples found the right match (was the corporate objective of Satyam making matches between employees?) at an IT industry, courtesy Satyam, and how many Andhra farmers benefited from their huge investments in Satyam shares. (And how many lost everything when the crash came?)

How can people forget that Satyam launched its offices right at the doorsteps of a residential colony, where people could simply walk to work?

The most gruesome experience that I had was when a Satyam tag wearing person was waiting to attend an interview and I overheard him saying that he was in a business meeting at the MyHome Satyam office when he was sitting right in front of me in a totally different company (little knowing that I too was a Satyam employee). (Again this reflects the culture of the company). When employees themselves show such a lousy attitude and don't care a damn for the brand they carry around their neck, how can they expect others to care? (But who encouraged this lousy attitude and lack of pride in the brand?).I am not saying that ALL Satyam employees are bad. I have known very dedicated people too, but my point is simple: before pointing fingers at others, introspect a bit. There are thousands of people who have completed certifications at the cost of Satyam, got trained at Satyam, got better jobs because of Satyam. . .

What Raju did was to keep the business of Satyam going at any cost. I see a smart man in him when he realised that it would be better to accept his mistake than be caught and tried under American laws.(This shows he has no remorse. He surrendered because the Indian laws are much more lax, not because he felt he was in the wrong. What a scum!) .I see a selfish father in him too that he put a lot at stake for Maytas. However, he resigned with dignity: it does take courage to accept your mistake in public. (Oh! Crap. Resigned with dignity? Did he have any other option. If he had not done it, the public would have slippered him)

But one cannot deny that he did create employment, which led to many others benefiting too: the tiffinwallahs, the transport people, those who rented their houses, etc. Today Satyamites call Raju a fraud. Well, the true and loyal Satyamites surely have all the reasons to call him a fraud. But the rest, who sucked every rupee out of Satyam without doing any value-addition, need to ask themselves: who is the bigger fraud?

Sad to note that even scums like Ramalingam Raju has apologists defending him.

(P.S: This post is for the benefit of my MBA students who has to learn about ethics, moral values, organization culture, personal responsibilities etc.)

Rome was not built in a day

My friend Subramanyam in the 'comments' section of the previous post has raised a question whether the next stage of Indian Premier League (IPL) will attract more TV audience in view of the current economic situation.

It is logical to think that there will be more TV audience for IPL as people do not have any other entertainment option less expensive in these troubled times.

But there is a flip side. People watch cricket as a sort of relaxation. Thus, a guy who has lost a job or is worried stiff about his savings, is not likely to even think about watching IPL.

Also, most of the companies have an unofficial cut on advertisement expenditure. We have seen the main sponsor of Srilankan Cricket Team, Dilmah Tea, turning its back on Cricket sponsorship. Thus the advertisement revenue, on which the entire IPL model is built, will be adversely affected to the tune of 25-35%. Another major source of revenue for the franchisees is the revenue accrued from Merchandising. This is relatively new concept in India. Under the current grim scenario, it is unlikely that spectators shall aggressively invest in merchandising.

Barring 2 franchisees, no one else broke even last year. They are expected to slip further into red after this years action, which doesnt augur well for the future.

But great product concepts, especially Events, are not built over a couple of years. It takes a while, more likely a decade. IPL thus is here to stay.

After all, Rome was not built in a day!

Why are we like this?

In today's world of Breaking news, peoples attention span on a particulary story is as little as one week. The perpetrators of the crime know this. And they get away with, well literally, murder.

Here is the progress card on some of the recent events;

Mumbai Terror Attack : 82 days since the attack, NOTHING has happened. We have not arrested anyone other than the lone terrorist, the local angle has not been inquired into and no follow up action made. True, the home minister lost his job, PC took over and rushed through some laws. But the ground reality is that nothing has changed. We went to the international community to help us out. Today, there is not a peep from US, the UK foreign secretary came to our country and snubbed us, Pakistan has used the media to make brazen statements and funnily we are now whining saying that Pakistan is not taking action against the perpetrators. This is akin to asking the thief to pronounce himself guilty. And trust me, this is the last we will hear of it.

Satyam Saga: Raju, on advice from his crony the CM of AP Rajasekhara Reddy, got himself arrested and is happy enjoying privileged treatement in the Jails. The government has tried every trick in the books to prevent investigations. First, they allowed all documents to be spirited away, then blocked SEBI from coming anywhere near Raju. Congress rule both the Centre and the State. But there is absolutely no co ordination between the two and no one seems to be too keen to bring out the truth. Government was quick to make arrangements to see that Satyam functions normally, but the same zeal was not noticed in arriving at the truth as to how the money was siphoned off. My take on this is that Raju will come out of bail in a month or so and the whole case will be buried under a web of legal tangle for decades.

Indian Hockey Federation: The ex President KPS Gill and his secretary Jyothikumarans autocratic rule was cited as the reason for all the ills plaguing Indian Hockey. But almost a year since their ouster, being replaced by government nominated worthies, nothing has changed. We are blundering along, and when the team started doing well in the Punjab Gold Cup against opponents like Germany and Holland, Aslam Sher Khan has virtually made the senior coach cry with his negative remarks on the selection policies. And no one is bothered.

And we can add the following to the list,

• The Cash for votes scam during the last Confidence motion,
• The poor lady weightlifter who was falsely accused of doping so that someone else goes to olympics in her place,
• The Malegon blasts and all the other blasts before that
• The charges against the husband of our President, which was such a big issue during her election
• ........................... and many many more.

Why are we like this?

"Son, are you homeless?"

Kissing in public by married couple not obscene: HC -The Delhi High Court has stayed criminal proceedings against a couple wondering how and why an "expression of love by a young married couple" in this case allegedly by stealing kisses in public should attract the charge of obscenity. "The FIR doesn't make a case for offence under Section 294 (obscenity) read with 34 IPC. It is inconceivable how, even if one were to take what is stated in the FIR to be true, an expression of love by a young married couple would attract offence of obscenity and trigger the coercive process of law," observed Justice Muralidhar. The newly married duo was picked up by ASI Vidhyadhar Singh of Dwarka police station on September 4 last year after he claimed to have found them "sitting in an objectionable position near a Metro pillar and kissing each other due to which passersby were feeling bad." Even though Ajit told them they were married, the cop hauled them to the police station and arrested them. HC was surprised how Singh disregarded the fact that the two were married and registered an FIR for obscenity.

I have two silly thoughts,

First, why would any sane man (sigh!) want to kiss 'his wife' (and likewise, a sane woman to kiss 'her husband') in public. A lover, definitely but wife? Hmmmmmmmmmmm. Well, certain people do have a weird sense of masochism.

Second, by the same token, is it alright for a 'married' couple to have sex in full public glare, and will the honourable judges uphold it saying 'since they are married, it is fine for them to do that?"

Hey! That was by way of fun. I am a liberal and believe that the State should interfere as less as possible in an individuals life. And our Police, who cannot catch a real thief or terrorist, are wasting their time on such trivial issues. Even if a passerby is offended, all the Policeman had to do was to tap the husband on the shoulder and ask him "Son, are you homeless?".

Global Financial Crisis - Root Cause

Many people watching the job cuts at both the global level and locally have been asking me why this is happening despite the economic rescue plans of various governments.

The effect of any major event that has a profound influence on the economy is felt only after 3-4 months. What we are witnessing today is the aftershock of what happened in October 2008. We need to wait for another 3 months for the benefits of the bail out packages to trickle down.

However, I am not convinced that the cure will be better than the disease. Putting the same people who have destroyed the economy in charge of the revival package and expecting them to turn around the global financial system by using the very same instruments and processes that brought about the crash in the first place is a no brainer.

People are talking about systemmic failures, and that the blame has to lie with regulators than with individuals. This is ridiculous. Remember the South East Asian crisis and the Russian crisis in the 1990s? The situation was similar. The developed countries then took the high handed approach and preached from the pulpit about the inability of the developing world to manage their economies. They offered free advice, the monetary agencies rubbed their hands in glee, gave money, put stringent conditions and virutally dictated the economic policies of these small countries. Even India faced the brunt of these holier than thou people of IMF, WB and ADB in early 1990's.

Now we dont hear a peep from any of these worthies. They have one set of rules for developing countries and another for the developed. This is called hypocracy.

The root cause of the current crisis lies in the compensation structure of the top executives of the financial institutions. It was one based on hefty incentives and bonuses. To achieve this, they created innovative financial products that did not meet the risk-return criteria in the long run. These products were great in isolation and got great returns to the investors in the short run. However, they did not stand the test of time. The cumulative long term impact of all these products on the system was not factored in. The bubble became bigger and bigger. The executive's bonuses were not based on long term returns but on short term profits. These guys made a fat packet and there was absolutely no accountability built into the system to take care of long term failures. Any system needs checks and balances. But the Auditors and Rating Agencies who were supposed to monitor these companies were being paid for their services by these companies in the first place. How can you expect them to make public shady dealings against their bread winners?

What is laughable is these Companies, which had for years screamed against ANY sort of governmental regulation, running to the government with a begging bowl at the first sign of crisis.

I am made to understand that the very essence of Capitalism is the survival of the fittest and the market demands the fate of a company. Why dont we follow this and allow these companies to die a natural death. It is a myth that the financial system will collapse if these companies were allowed to go bankrupt. We may face some short term difficulties. But then we would have send a clear cut message that performance, ethics alone counts in this world. And that is not a bad thing to bring about accountability in the long run.

Of loo breaks, mobiles, and bits

Some of my MBA students are notorious for taking 'toilet breaks' while writing the term end examination. Last year, I happened to be invigilating a Marketing Specialization examination very tightly when after squirming for a while, one student got up and left for the loo. This was followed by a host of students who suddenly felt the pressure on their bladders. This led me to make an exasperated comment " I never knew going to the loo is a contagious disease". That at least put a stop to the nonsense. What these students were doing in the toilet is anything other than taking a leak. A quick refresher from materials (bits) taken from the 'hidden' sources is a norm than an exception, as also a quick phone call to a friend outside.

But for this to happen in India's Election Commission is bewildering to say the least, as the report below shows,

"Election Commissioner Navin Chawla's excuses and frequent visits to the washroom whenever crucial decisions were taken by the full bench of the Election Commission, is among the instances cited by the Chief Election Commissioner N Gopalaswami in his letter to the President recommending the former's removal.

In the report to the President, the CEC notes that whenever the full bench meeting was seized of an issue, Chawla will make an excuse of going to the washroom. And soon thereafter, invariably, the CEC would get phone calls from top Congress functionaries even as the meeting was in progress. This amounted to interference in the functioning of the Election Commission, the CEC felt".

I would have really laughed but for the seriousness of this allegations. What next? A policy change at the Election Commission in the guideline for the EC saying - "Article 6(5) ; Thou shall not piss during the EC meetings" or better still, "in the event of an emergency bottles will be provided to enable you to piss where you are seated"

Abused words

Some of the words I wish will be banned,

Breaking News - There used to be a sanctity for Breaking News once. The axiom in TV industry was that the normal program should not be interrupted at any cost, unless there is a news of national importance that needs to be broken immediately. Even then, the normal program is cut, and the Breaking News is broadcast as a brief story lasting one minute. But today this word has lost its importance through mindless use. Yesterday the breaking news for NDTV was the Upahar convicts getting bail......... Come on give me a break.

Absolutely - The scenario goes like this. The TV anchor asks the journalist on the field an unimportant question. The journalist HAS to start his/her answer with 'Absolutely'. A sample is as follows; The anchor - " Sreenivas, we heard that Ramalingam Raju did not piss the whole night in the jail yesterday. Is it true?". Sreenivas in reply - "Absolutely, Nidhi. We understand that he didnt drink enough water and hence was unable to piss".......................... you get the gist.

Only - This word is a part of every sentence spoken by every convent educated girl from Kashmir to Kanyakumari. "We have planned a picnic to Bangalore only". "We are only having exams tomorrow, ya". "Did you hear? Dhoni only won the toss". It is so irritating.

Secret behind Success

Most important basis of success in any venture is pragmatism.


Do not ask where the new idea came from or who thought of it first. Ask only one question “How does it work ?”.


There are certain basic universal laws. They do not change. Ignorance of these laws is no excuse. Violation of these laws of forces ends in penalty through under-achievement, frustration and failure.


Success needs action. Action needs initiative. For sustaining success, initiative to collect the experience and feedback is important.


Feedback allows you to take corrective action, which will sustain the success. For every effect, there is a specific cause.


Success is not an accident. Success is not based on chance. Success is not a matter of luck. Success is the result of well thought-out actions.- Arthasasthra by Chanakya