A volley of hilarious abuses was hurled by the actor who just couldn't get the chaste script right. As the cameraman soon learnt, whatever you do, do not question his Hindi.
The behind-the-scenes footage was from a 1998 pulse polio ad. After it was posted on Twitter, it soon became the hot topic of discussion for people fascinated by Shroff's vocabulary of Hindi cuss words.
Five years after actress Shilpa Shetty was subject to racist behaviour on Celebrity Big Brother, Miss India UK Deana Uppal has faced similar 'insults' from a fellow contestant, prompting regulator Ofcom to launch an investigation on receiving over 1,000 complaints.
Hailing from Birmingham, Uppal is the current Miss India UK and has done modelling assignments in the UK and India.
In 2007, following an uproar over racist comments by contestant Jade Goody against Shilpa, Ofcom had ruled that Channel 4 had breached its code of conduct. The issue snowballed into a major row, with the Indian and UK government intervening.
The show is now being broadcast on Channel 5.
On June 5, fellow contestant Conor McIntyre was reportedly seen screaming at Uppal and was later warned for aggression towards her. On June 25, he was seen shouting at a weeping Uppal, brandishing her epilator, and abusing her.
McIntyre's remarks prompted demands from women charity organisations for his removal from the Big Brother house, saying that Uppal should not have to live with such an intimidating presence.
Many took to Twitter to blast Conor's alleged bullying and over 1,000 people lodged complaints with the regulator, prompting Ofcom to launch an investigation into whether the airing of the arguments may have breached the broadcasting code.
"Channel 5 is committed to complying with Ofcom's broadcasting code and will help to facilitate a speedy investigation into this particular episode of Big Brother and Big Brother's Bit on the Side," said a Channel 5 spokesman.
Hailing from Birmingham, Uppal is the current Miss India UK and has done modelling assignments in the UK and India.
In 2007, following an uproar over racist comments by contestant Jade Goody against Shilpa, Ofcom had ruled that Channel 4 had breached its code of conduct. The issue snowballed into a major row, with the Indian and UK government intervening.
The show is now being broadcast on Channel 5.
On June 5, fellow contestant Conor McIntyre was reportedly seen screaming at Uppal and was later warned for aggression towards her. On June 25, he was seen shouting at a weeping Uppal, brandishing her epilator, and abusing her.
McIntyre's remarks prompted demands from women charity organisations for his removal from the Big Brother house, saying that Uppal should not have to live with such an intimidating presence.
Many took to Twitter to blast Conor's alleged bullying and over 1,000 people lodged complaints with the regulator, prompting Ofcom to launch an investigation into whether the airing of the arguments may have breached the broadcasting code.
"Channel 5 is committed to complying with Ofcom's broadcasting code and will help to facilitate a speedy investigation into this particular episode of Big Brother and Big Brother's Bit on the Side," said a Channel 5 spokesman.
Top Stories
OECD sees no relief from job shortage through 2013
No jobless relief is in sight for the next year and a half for the 34 nations of the Organization for Economic Cooperation and Development, the organization warned, as those without work for long stretches lose skills. Noting an alarmingly high unemployment outlook for younger workers, OECD Secretary-General Angel Gurria said governments must "use every possible means at their disposal to help job-seekers, especially young people, by removing barriers to job creation and investing in their education and skills"
India's Singh is said to be preparing plan to boost economy
Savings in government expenditures, investment, and the fiscal and current-account deficits are among the areas India's prime minister, Manmohan Singh, is focusing on as he prepares proposals to spur the nation's lagging economy, according to Home Minister P. Chidambaram. "I think the prime minister-cum-finance minister is contemplating a number of measures to tighten revenue collection and to control wasteful expenditure. We have already imposed across-the-board cuts on non-plan expenditure," Chidambaram said.
Eurozone ministers agree on aid outlines for Spain
The first, 30 billion-euro installment of a 100 billion-euro bailout for Spain will be on its way by the end of the month, as agreed by Europe's finance ministers early Tuesday. And, as expected, Spain was granted an additional year to bring its public deficit into line with the EU limit of 3% of gross domestic product. Meanwhile, Italy may be next to seek aid from the EU, and Germany continues to question the bailout fund's compatibility with the German constitution.
China trade surplus grows on struggling economies at home, abroad
China's export and import growth both eased last month, with a widening surplus stemming from especially low growth in imports due to faltering domestic demand. Combined, the June figures indicated slowing in China's economy and the global economy at large. "We are still facing a more complicated and severe situation in foreign trade," General Administration of Customs spokesman Zheng Yuesheng said.
U.S. consumer credit surged in May
In a possibly alarming sign, U.S. consumer credit rose by an unexpectedly large amount in May, suggesting that Americans may be struggling financially. The growth was led by credit card borrowing, which saw its biggest increase in nearly five years, according to the Federal Reserve. The figures are particularly ominous in light of ebbing consumer confidence and slower job creation.
New York Fed heard about Libor manipulation early on
The Federal Reserve Bank of New York says that over the course of "many months" beginning in 2007, it received "anecdotal" reports of problems with Barclays' Libor submissions. The revelation raises questions about steps taken by regulators to address the problem.
Opinion: Lack of bank oversight is a global shame
The U.K.'s Libor scandal is seen as just the latest signal that banking regulation is broken, not just in the U.K. but internationally.
Market Activities
INTERNATIONAL MARKETS OVERVIEW
Worries over company results as earnings season develops sent U.S. stocks lower Tuesday, with the S&P 500 ending the day 0.8% lower. In Europe, however, tech stocks and a brighter outlook for Spain lifted shares to end a run of four down days. Here is a continuously updated list of global stock indexes.
Asian shares may face pressure as companies post earnings
Asian stocks might be in for a bumpy ride despite a rosy outlook at the end of June. The concern as companies across the region prepare to post earnings is that the effects of a deepening global slowdown will become evident as the latest results are reported.
High inflation expectations will lead the Bank of Korea to keep its key interest steady for the 13th month, despite signs that easing may be in order in light of the eurozone crisis, according to a poll of analysts by Yonhap Infomax. "Some central banks have been cutting their key rates to support faltering growth, but local economic conditions indicate that it is not yet the timing to change the course of the monetary policy," said Kim Yoon-gee, a senior economist at the Daishin Economic Research Institute.
China tops Japan with 79 companies among Fortune 500
China is now the second-leading country in the world as measured by the Fortune 500 list, with 79 companies named. The U.S. leads with 132 companies, and Japan is third with 68.
Philippines' May exports reach 17-month high
Philippine exports were up nearly 20% in May from a year earlier, totaling $4.931 billion and marking a 17-month high. However, in the key electronics sector, exports edged down 0.7%, somewhat tempering the outlook for the rest of the year. "We are still hopeful that other sectors will be able to drive total exports while electronics exports are weak," said Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation.
3 Chinese banks provide $1.1 billion for Indian power project
In a first, three Chinese banks have agreed to $1.1 billion in financing for a power project in central India by India's Reliance Power. Although China and India are major trading partners, relations are sometimes strained. The loan, which sharply reduces Reliance's previous cost of funding from Indian banks, may indicate an easing of tensions.
The combined deficit for South Korean securities firms' foreign branches widened sharply last year to $93.8 million from $62.6 million in 2010, according to figures compiled by the Financial Supervisory Service. Big losses in Hong Kong and strains from the eurozone crisis contributed to the poor results.
Tokyo Stock Exchange bids to buy Osaka exchange
The Tokyo Stock Exchange is preparing a bid to purchase Osaka Securities Exchange for 480,000 yen per share. The merger of Japan's two largest stock exchanges would form the world's third-largest exchange.
Industry & Regulatory Update
Smaller Chinese companies make expensive exit from U.S. stock market
Questions raised last year in connection with Sino-Forest Corp. about accounting and corporate-governance standards at Chinese companies are proving expensive this year. China Development Bank is now providing more than $1 billion to help smaller Chinese companies leave the U.S. stock market after their share prices collapsed following the Sino-Forest allegations by short-selling firm Muddy Waters.
People & Personalities
Chen Peng joins Dimensional Fund Advisors as Asia chief
Chen Peng is leaving Morningstar in Chicago to join Dimensional Fund Advisors as CEO for Asia, ex-Japan. Chen initially will operate from new offices in Hong Kong and Singapore.
Ethics & Standards
Survey: 1 in 4 financial executives say unethical practices are necessary
About 1 in 4 financial executives on Wall Street and in Britain say in a survey that unethical or illegal conduct is a necessity, and 1 in 6 admit they would break the law if they could avoid being caught. The survey by law firm Labaton Sucharow also found that 39% of respondents think their competitors have engaged in illegal or unethical conduct.
Hedge fund manager sought in China is on "tour" in U.S.
A hedge fund manager for Shanghai's Purple Stone Investment, which is under investigation by Chinese authorities, is said to be on a months-long "study tour" in the U.S. Zhang Chao is suspected of collusion with another Chinese firm, Huafu Fund Management, in the buying and selling of shares.
India extends amnesty offer to wealthy tax evaders
Wealthy Indians suspected of dodging taxes by hiding funds at HSBC's Swiss unit have been offered amnesty. The condition is that the more than 100 accused evaders immediately repatriate the funds and pay the back taxes. "It's a pragmatic approach," said R.K. Gupta, managing director at Taurus Asset Management.
OECD sees no relief from job shortage through 2013
No jobless relief is in sight for the next year and a half for the 34 nations of the Organization for Economic Cooperation and Development, the organization warned, as those without work for long stretches lose skills. Noting an alarmingly high unemployment outlook for younger workers, OECD Secretary-General Angel Gurria said governments must "use every possible means at their disposal to help job-seekers, especially young people, by removing barriers to job creation and investing in their education and skills"
India's Singh is said to be preparing plan to boost economy
Savings in government expenditures, investment, and the fiscal and current-account deficits are among the areas India's prime minister, Manmohan Singh, is focusing on as he prepares proposals to spur the nation's lagging economy, according to Home Minister P. Chidambaram. "I think the prime minister-cum-finance minister is contemplating a number of measures to tighten revenue collection and to control wasteful expenditure. We have already imposed across-the-board cuts on non-plan expenditure," Chidambaram said.
Eurozone ministers agree on aid outlines for Spain
The first, 30 billion-euro installment of a 100 billion-euro bailout for Spain will be on its way by the end of the month, as agreed by Europe's finance ministers early Tuesday. And, as expected, Spain was granted an additional year to bring its public deficit into line with the EU limit of 3% of gross domestic product. Meanwhile, Italy may be next to seek aid from the EU, and Germany continues to question the bailout fund's compatibility with the German constitution.
China trade surplus grows on struggling economies at home, abroad
China's export and import growth both eased last month, with a widening surplus stemming from especially low growth in imports due to faltering domestic demand. Combined, the June figures indicated slowing in China's economy and the global economy at large. "We are still facing a more complicated and severe situation in foreign trade," General Administration of Customs spokesman Zheng Yuesheng said.
U.S. consumer credit surged in May
In a possibly alarming sign, U.S. consumer credit rose by an unexpectedly large amount in May, suggesting that Americans may be struggling financially. The growth was led by credit card borrowing, which saw its biggest increase in nearly five years, according to the Federal Reserve. The figures are particularly ominous in light of ebbing consumer confidence and slower job creation.
New York Fed heard about Libor manipulation early on
The Federal Reserve Bank of New York says that over the course of "many months" beginning in 2007, it received "anecdotal" reports of problems with Barclays' Libor submissions. The revelation raises questions about steps taken by regulators to address the problem.
Opinion: Lack of bank oversight is a global shame
The U.K.'s Libor scandal is seen as just the latest signal that banking regulation is broken, not just in the U.K. but internationally.
Market Activities
INTERNATIONAL MARKETS OVERVIEW
Worries over company results as earnings season develops sent U.S. stocks lower Tuesday, with the S&P 500 ending the day 0.8% lower. In Europe, however, tech stocks and a brighter outlook for Spain lifted shares to end a run of four down days. Here is a continuously updated list of global stock indexes.
Asian shares may face pressure as companies post earnings
Asian stocks might be in for a bumpy ride despite a rosy outlook at the end of June. The concern as companies across the region prepare to post earnings is that the effects of a deepening global slowdown will become evident as the latest results are reported.
Economic Trends & Outlook
South Korean interest rates are seen holding steady
South Korean interest rates are seen holding steady
High inflation expectations will lead the Bank of Korea to keep its key interest steady for the 13th month, despite signs that easing may be in order in light of the eurozone crisis, according to a poll of analysts by Yonhap Infomax. "Some central banks have been cutting their key rates to support faltering growth, but local economic conditions indicate that it is not yet the timing to change the course of the monetary policy," said Kim Yoon-gee, a senior economist at the Daishin Economic Research Institute.
China tops Japan with 79 companies among Fortune 500
China is now the second-leading country in the world as measured by the Fortune 500 list, with 79 companies named. The U.S. leads with 132 companies, and Japan is third with 68.
Philippines' May exports reach 17-month high
Philippine exports were up nearly 20% in May from a year earlier, totaling $4.931 billion and marking a 17-month high. However, in the key electronics sector, exports edged down 0.7%, somewhat tempering the outlook for the rest of the year. "We are still hopeful that other sectors will be able to drive total exports while electronics exports are weak," said Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation.
3 Chinese banks provide $1.1 billion for Indian power project
In a first, three Chinese banks have agreed to $1.1 billion in financing for a power project in central India by India's Reliance Power. Although China and India are major trading partners, relations are sometimes strained. The loan, which sharply reduces Reliance's previous cost of funding from Indian banks, may indicate an easing of tensions.
Capital Markets & Financial Products
Foreign losses widen in 2011 for South Korean securities firms
Foreign losses widen in 2011 for South Korean securities firms
The combined deficit for South Korean securities firms' foreign branches widened sharply last year to $93.8 million from $62.6 million in 2010, according to figures compiled by the Financial Supervisory Service. Big losses in Hong Kong and strains from the eurozone crisis contributed to the poor results.
Tokyo Stock Exchange bids to buy Osaka exchange
The Tokyo Stock Exchange is preparing a bid to purchase Osaka Securities Exchange for 480,000 yen per share. The merger of Japan's two largest stock exchanges would form the world's third-largest exchange.
Industry & Regulatory Update
Smaller Chinese companies make expensive exit from U.S. stock market
Questions raised last year in connection with Sino-Forest Corp. about accounting and corporate-governance standards at Chinese companies are proving expensive this year. China Development Bank is now providing more than $1 billion to help smaller Chinese companies leave the U.S. stock market after their share prices collapsed following the Sino-Forest allegations by short-selling firm Muddy Waters.
People & Personalities
Chen Peng joins Dimensional Fund Advisors as Asia chief
Chen Peng is leaving Morningstar in Chicago to join Dimensional Fund Advisors as CEO for Asia, ex-Japan. Chen initially will operate from new offices in Hong Kong and Singapore.
Ethics & Standards
Survey: 1 in 4 financial executives say unethical practices are necessary
About 1 in 4 financial executives on Wall Street and in Britain say in a survey that unethical or illegal conduct is a necessity, and 1 in 6 admit they would break the law if they could avoid being caught. The survey by law firm Labaton Sucharow also found that 39% of respondents think their competitors have engaged in illegal or unethical conduct.
Hedge fund manager sought in China is on "tour" in U.S.
A hedge fund manager for Shanghai's Purple Stone Investment, which is under investigation by Chinese authorities, is said to be on a months-long "study tour" in the U.S. Zhang Chao is suspected of collusion with another Chinese firm, Huafu Fund Management, in the buying and selling of shares.
India extends amnesty offer to wealthy tax evaders
Wealthy Indians suspected of dodging taxes by hiding funds at HSBC's Swiss unit have been offered amnesty. The condition is that the more than 100 accused evaders immediately repatriate the funds and pay the back taxes. "It's a pragmatic approach," said R.K. Gupta, managing director at Taurus Asset Management.
The Oatmeal Raises $211,223 For Charity, Middle Finger At FunkyJunk
The Oatmeal has triumphed. Matthew Inman, creator of the popular web comic and subject of one of the odder lawsuits to enchant the Internet in recent times, has raised $211,223.04 for charity and wriggled free of the charges that inspired the fundraiser in the first place.
Digital Life has a blow-by-blow account of the surprising story, but here it is in brief: A few weeks ago, Inman, creator of The Oatmeal, became the subject of a bizarre lawsuit. Seattle lawyer Charles Carreon, on behalf of a website called FunkyJunk, was pressing Inman for $20,000 in a defamation case. The funny thing was, Inman had alleged FunkyJunk had plagiarized Inman extensively and for a significant period some months earlier.
Inman turned the whole loony episode into a comic strip to bring the Internet in on the situation. While he had everyone’s attention, though, Inman also set up a donations bin on Indiegogo--for charity--to match the $20,000 that was being demanded of him. The Internet responded with that amount in 64 minutes, racking up a grand total that's more than ten times the figure Inman was hoping to achieve. Carreon then launched his own lawsuit threatening Inman and the charities he had promised the money to.
With the collapse of the cases, due to Carreon's withdrawal, Inman's now closed the fundraiser and cashed in. But before sending away all that money to do some good, he decided to post some victory photographs on his website. A bonus: Tucked in there is a snap of the custom care package he plans to mail to Charles Carreon.
AT&T Opens Up Watson Speech API To Developers
AT&T has released the API for its speech recognition software “Watson,” allowing developers to access it and integrate it into their products for devices. John Donovan, senior executive VP at AT&T, made the announcement in a blog post, and suggests a few scenarios that app developers can put the Speech API to use. He lists voice Web searches, voicemail transcription, SMS texts sent by voice, among others. More features are coming up shortly, Donovan promises. AT&T has had this software cooking a while, and has pocketed 600 patents in its making. In April, the company announced it would be making the API public.
RIM Facing Potentially Difficult Annual Shareholder Meeting
RIM is looking to save $1 billion to tide it through a precarious time by selling one of its two company jets Bloomberg has heard. Earlier, in late June, part of cost-cutting strategies, RIM announced it would be cutting 5,000 jobs after reporting a net loss of $192 million. The company is under pressure to ditch its own BlackBerry 10 OS (the first of those phones are expected to launch not until January next year) in favor of a rival OS. Evidence of these or other turnaround strategies could be revealed at RIM's annual meeting being held this afternoon, which kicked off with the re-election of the company's board.
Google, FTC Approach $22.5 Million Settlement For Safari Privacy Violation
Google and the FTC are converging on a settlement over Google’s user tracking and privacy violation via Apple’s Safari browser. Earlier this year, Google was caught installing cookies in the browser that tracked users, circumventing user-adjustable browser settings designed to disable tracking. The Wall Street Journal has heard that Google has agreed to a sum of $22.5 million as atonement for the transgression--a record sum as far as settlements go, but a tiny fraction of Google’s revenues, all things considered.
Kickstarter Expanding To Fund U.K. Projects
In a tweet late yesterday, crowdfunding enterprise Kickstarter revealed that it's taking its first proper steps overseas and will, beginning in the fall, offer the ability to fund projects in the U.K. Little more information is known about the new vebture as yet. But it does represent a significant step forward in Kickstarter's own business model. Plus it'll tap the innovative brains in a nation that was responsible for some of the early developments in home computing and gaming, and where ARM chips were dreamed up.
The Oatmeal has triumphed. Matthew Inman, creator of the popular web comic and subject of one of the odder lawsuits to enchant the Internet in recent times, has raised $211,223.04 for charity and wriggled free of the charges that inspired the fundraiser in the first place.
Digital Life has a blow-by-blow account of the surprising story, but here it is in brief: A few weeks ago, Inman, creator of The Oatmeal, became the subject of a bizarre lawsuit. Seattle lawyer Charles Carreon, on behalf of a website called FunkyJunk, was pressing Inman for $20,000 in a defamation case. The funny thing was, Inman had alleged FunkyJunk had plagiarized Inman extensively and for a significant period some months earlier.
Inman turned the whole loony episode into a comic strip to bring the Internet in on the situation. While he had everyone’s attention, though, Inman also set up a donations bin on Indiegogo--for charity--to match the $20,000 that was being demanded of him. The Internet responded with that amount in 64 minutes, racking up a grand total that's more than ten times the figure Inman was hoping to achieve. Carreon then launched his own lawsuit threatening Inman and the charities he had promised the money to.
With the collapse of the cases, due to Carreon's withdrawal, Inman's now closed the fundraiser and cashed in. But before sending away all that money to do some good, he decided to post some victory photographs on his website. A bonus: Tucked in there is a snap of the custom care package he plans to mail to Charles Carreon.
AT&T Opens Up Watson Speech API To Developers
AT&T has released the API for its speech recognition software “Watson,” allowing developers to access it and integrate it into their products for devices. John Donovan, senior executive VP at AT&T, made the announcement in a blog post, and suggests a few scenarios that app developers can put the Speech API to use. He lists voice Web searches, voicemail transcription, SMS texts sent by voice, among others. More features are coming up shortly, Donovan promises. AT&T has had this software cooking a while, and has pocketed 600 patents in its making. In April, the company announced it would be making the API public.
RIM Facing Potentially Difficult Annual Shareholder Meeting
RIM is looking to save $1 billion to tide it through a precarious time by selling one of its two company jets Bloomberg has heard. Earlier, in late June, part of cost-cutting strategies, RIM announced it would be cutting 5,000 jobs after reporting a net loss of $192 million. The company is under pressure to ditch its own BlackBerry 10 OS (the first of those phones are expected to launch not until January next year) in favor of a rival OS. Evidence of these or other turnaround strategies could be revealed at RIM's annual meeting being held this afternoon, which kicked off with the re-election of the company's board.
Google, FTC Approach $22.5 Million Settlement For Safari Privacy Violation
Google and the FTC are converging on a settlement over Google’s user tracking and privacy violation via Apple’s Safari browser. Earlier this year, Google was caught installing cookies in the browser that tracked users, circumventing user-adjustable browser settings designed to disable tracking. The Wall Street Journal has heard that Google has agreed to a sum of $22.5 million as atonement for the transgression--a record sum as far as settlements go, but a tiny fraction of Google’s revenues, all things considered.
Kickstarter Expanding To Fund U.K. Projects
In a tweet late yesterday, crowdfunding enterprise Kickstarter revealed that it's taking its first proper steps overseas and will, beginning in the fall, offer the ability to fund projects in the U.K. Little more information is known about the new vebture as yet. But it does represent a significant step forward in Kickstarter's own business model. Plus it'll tap the innovative brains in a nation that was responsible for some of the early developments in home computing and gaming, and where ARM chips were dreamed up.
• Chelsea Therapeutics, Inc. (CHTP) CEO Exits, Cuts Jobs to Save Northera More...
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• Sanofi (France) (SAN.PA) Pulls Filings for Anticoagulant Mulsevo More...
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Sometimes, one wonders if the old Mughal technique of powerful princes imprisoning their Emperor-Dads and grabbing power is not a better way to ring out the old and bring in new ideas to governance.
In modern-day India, the thought processes on this score are ancient. The young are not leading, and the old are not retiring — or even receding gracefully into the background.
Whether it is politics of sport or even business, old is oversold. We respect age too much, and have been paying a price for it.
The country’s median age is about 26. Some 30 percent of the population is minor — below 14. And 95 percent of India’s population is below 64, but we are ruled usually by people well above that age.
Consider the number of above eighties in politics. LK Advani won’t retire, M Karunanidhi won’t retire, Parkash Singh Badal won’t retire, Jyoti Basu and VS Achuthanadan were CPI(M) Chief Ministers well into their eighties. The party’s General Secretary, the late Harkishan Singh Surjeet, did not yield to Prakash Karat till he was 89. Atal Behari Vajpayee retired as PM at 80 only because he lost an election. Manmohan Singh, who will be 80 in two months, won’t retire till 2014 — if even then.
Contrast this with David Cameron (he was 44 when he took over as British PM in 2010, Barack Obama (48 when he took over), and Vladimir Putin (48 when he first became president in 2000).
The late NT Rama Rao (“NTR”), founder of Telugu Desam, would have continued merrily well past his seventies but for a coup by his son-in-law N Chandrababu Naidu. Naidu did an Aurangzeb on him and seized power through an internal coup in 1995 — a year before NTR’s death.
Luckily, Mulayam Singh has given way to young Akhilesh much earlier, but apparently only because he fancies himself as a future PM in a Third Front government after 2014, or even before. He will be 75 if he gets to 7 Race Course Road in 2014.
On the other hand, the youth brigade is repeatedly failing us. Salman Khurshid’s interview toThe Indian Express on Tuesday is a case in point. A Congress Law Minister could not have expressed Rahul Gandhi’s failure to lead in starker terms. Even after being anointed heir-apparent for years now, Rahul has failed to measure up on the leadership front, as Khurshid points out: “…he has not taken up the mantle or accepted a functional responsibility. He is so far not willing to accept the No 2 position. In such a situation, we have to wait. This is a waiting time.”
However, in all this waiting, the entire youth brigade of the Congress is being sidelined. Reason: Rahul baba cannot be upstaged. So the youth corps of Jyotiraditya Scindia, Sachin Pilot, Sandip Dikshit, and Milind Deora is busy doing little in UPA-2, instead of blazing a sizzling new trail.
The BJP has a raft of younger leaders, but the party stupidly fails to promote them. It is now hoping Narendra Modi will do the trick for them — but he is past 60. Energetic, but not exactly the fountain of youth. The rest of the top leadership — Sushma Swaraj, Arun Jaitley and Nitin Gadkari — is busy neutralising itself.
But the scene is not any better in business either. Ratan Tata is retiring at 75 — but he should have probably done so five or 10 years earlier and merely stayed on as a guiding spirit. Dhirubhai Ambani passed away relatively early at 70, but such was his importance that he failed to do the one thing that retirees should: hand over the reins when the going was good. Worse, he did not even leave a will. His sons had to fight to get their share of patrimony.
But unlike politicians, whose inheritors have not got their chances till late, in business, at least, the heirs have gotten their dues and their chances to shine. Where they have split from their fathers or gone their separate ways posthumously — the Piramals, Mafatlals, Ambanis, Singhanias, Birlas are some examples — they have usually fared much better despite the heartburn of separation. The Bajaj family and the RP Goenka group split more gracefully, and the results are there for all to see.
The upshot of separation and division has usually been growth and new ideas. And this proves the point that while the young may fail, it is usually not for want of trying.
But another group of India’s oldies — bureaucrats — seem never to want to fade away. Secretaries retiring from ministries end up as chairpersons of regulatory agencies or other quasi-government organisations (Recent examples: Rahul Khullar moved to Trai after retiring as commerce secretary, Ashok Chawla moved from the finance ministry to the Competition Commission of India).
In a recent series, The Indian Express found that “a disproportionately large” number of IAS and IPS officers obtained sinecures or even big-ticket jobs after retirement. Says the newspaper: “Details of nearly 90 such appointments made in recent years show these civil servants being parked as governors, information commissioners, and as heads or members of a slew of bodies such as the Union Public Service Commission, the National Commission for Minorities, Central Information Commission, National Consumer Disputes Redressal Commission and the Central Administrative Tribunal (CAT). Most of these posts enjoy the rank of secretary to the government of India or above. In the case of some officers, new positions have been created to accommodate them.”
Even judges seem to work forever. It is rare for former judges to lack a job after retirement. Former Chief Justice of India KG Balakrishnan was made head of the National Human Rights Commission, while Justice Markandeya Katju has been making waves as Chairman of the Press Council. Santosh Hegde was till last year the Karnataka Lokayukta. Former Supreme Court Justice GT Nanavati not only headed the commission to look into the 1984 anti-Sikh riots, but now heads the Gujarat probe into the 2002 riots. He is still at it, 10 years later. Justice MS Liberhan took 17 years to submit his Babri demolition report.
The Express report also found that out of the 133 independent directors appointed to the boards of 21 public sector companies, “at least 46 of them are former bureaucrats.” So much for their independence. They are merely serving the government they always served even after retirement.
When the old stay on for too long, they are likely to fail for want of better ideas, newer approaches to 21st century challenges. India is a young country, and the first reform we need to is to ask the old to retire gracefully to make way for new ideas.
Age needs respect, not jobs for life at the cost of the young and fit.
( Source: Firstpost )
In modern-day India, the thought processes on this score are ancient. The young are not leading, and the old are not retiring — or even receding gracefully into the background.
Whether it is politics of sport or even business, old is oversold. We respect age too much, and have been paying a price for it.
The country’s median age is about 26. Some 30 percent of the population is minor — below 14. And 95 percent of India’s population is below 64, but we are ruled usually by people well above that age.
Consider the number of above eighties in politics. LK Advani won’t retire, M Karunanidhi won’t retire, Parkash Singh Badal won’t retire, Jyoti Basu and VS Achuthanadan were CPI(M) Chief Ministers well into their eighties. The party’s General Secretary, the late Harkishan Singh Surjeet, did not yield to Prakash Karat till he was 89. Atal Behari Vajpayee retired as PM at 80 only because he lost an election. Manmohan Singh, who will be 80 in two months, won’t retire till 2014 — if even then.
Contrast this with David Cameron (he was 44 when he took over as British PM in 2010, Barack Obama (48 when he took over), and Vladimir Putin (48 when he first became president in 2000).
The late NT Rama Rao (“NTR”), founder of Telugu Desam, would have continued merrily well past his seventies but for a coup by his son-in-law N Chandrababu Naidu. Naidu did an Aurangzeb on him and seized power through an internal coup in 1995 — a year before NTR’s death.
Luckily, Mulayam Singh has given way to young Akhilesh much earlier, but apparently only because he fancies himself as a future PM in a Third Front government after 2014, or even before. He will be 75 if he gets to 7 Race Course Road in 2014.
On the other hand, the youth brigade is repeatedly failing us. Salman Khurshid’s interview toThe Indian Express on Tuesday is a case in point. A Congress Law Minister could not have expressed Rahul Gandhi’s failure to lead in starker terms. Even after being anointed heir-apparent for years now, Rahul has failed to measure up on the leadership front, as Khurshid points out: “…he has not taken up the mantle or accepted a functional responsibility. He is so far not willing to accept the No 2 position. In such a situation, we have to wait. This is a waiting time.”
However, in all this waiting, the entire youth brigade of the Congress is being sidelined. Reason: Rahul baba cannot be upstaged. So the youth corps of Jyotiraditya Scindia, Sachin Pilot, Sandip Dikshit, and Milind Deora is busy doing little in UPA-2, instead of blazing a sizzling new trail.
The BJP has a raft of younger leaders, but the party stupidly fails to promote them. It is now hoping Narendra Modi will do the trick for them — but he is past 60. Energetic, but not exactly the fountain of youth. The rest of the top leadership — Sushma Swaraj, Arun Jaitley and Nitin Gadkari — is busy neutralising itself.
But the scene is not any better in business either. Ratan Tata is retiring at 75 — but he should have probably done so five or 10 years earlier and merely stayed on as a guiding spirit. Dhirubhai Ambani passed away relatively early at 70, but such was his importance that he failed to do the one thing that retirees should: hand over the reins when the going was good. Worse, he did not even leave a will. His sons had to fight to get their share of patrimony.
But unlike politicians, whose inheritors have not got their chances till late, in business, at least, the heirs have gotten their dues and their chances to shine. Where they have split from their fathers or gone their separate ways posthumously — the Piramals, Mafatlals, Ambanis, Singhanias, Birlas are some examples — they have usually fared much better despite the heartburn of separation. The Bajaj family and the RP Goenka group split more gracefully, and the results are there for all to see.
The upshot of separation and division has usually been growth and new ideas. And this proves the point that while the young may fail, it is usually not for want of trying.
But another group of India’s oldies — bureaucrats — seem never to want to fade away. Secretaries retiring from ministries end up as chairpersons of regulatory agencies or other quasi-government organisations (Recent examples: Rahul Khullar moved to Trai after retiring as commerce secretary, Ashok Chawla moved from the finance ministry to the Competition Commission of India).
In a recent series, The Indian Express found that “a disproportionately large” number of IAS and IPS officers obtained sinecures or even big-ticket jobs after retirement. Says the newspaper: “Details of nearly 90 such appointments made in recent years show these civil servants being parked as governors, information commissioners, and as heads or members of a slew of bodies such as the Union Public Service Commission, the National Commission for Minorities, Central Information Commission, National Consumer Disputes Redressal Commission and the Central Administrative Tribunal (CAT). Most of these posts enjoy the rank of secretary to the government of India or above. In the case of some officers, new positions have been created to accommodate them.”
Even judges seem to work forever. It is rare for former judges to lack a job after retirement. Former Chief Justice of India KG Balakrishnan was made head of the National Human Rights Commission, while Justice Markandeya Katju has been making waves as Chairman of the Press Council. Santosh Hegde was till last year the Karnataka Lokayukta. Former Supreme Court Justice GT Nanavati not only headed the commission to look into the 1984 anti-Sikh riots, but now heads the Gujarat probe into the 2002 riots. He is still at it, 10 years later. Justice MS Liberhan took 17 years to submit his Babri demolition report.
The Express report also found that out of the 133 independent directors appointed to the boards of 21 public sector companies, “at least 46 of them are former bureaucrats.” So much for their independence. They are merely serving the government they always served even after retirement.
When the old stay on for too long, they are likely to fail for want of better ideas, newer approaches to 21st century challenges. India is a young country, and the first reform we need to is to ask the old to retire gracefully to make way for new ideas.
Age needs respect, not jobs for life at the cost of the young and fit.
( Source: Firstpost )
The publishers in a press release say the memoir will be an open, candid, intimate and remarkably personal account of his journey through cancer - from denial and acceptance, from his battle to defeat the disease to the struggles he still faces.
For the first time Singh will tell, in his own words, the real story behind the 2011 World Cup when on-the-field triumph hid increasingly puzzling health problems and worrying illnesses. The cricketer says, "If I think of it my life is full of words beginning with C. I was born in Chandigarh, I became a cricketer, and through my decade as an international cricketer all I craved, along with the rest of the India team, was the Cup. This story, though, is about the new C in my life. It is the story of my cancer."
He will reveal how, plagued with insomnia, coughing fits that left him vomiting blood and an inability to eat, he made a deal with God on the night before the final to give him the World Cup, and in return God could take anything he wanted.
In the memoir he will speak honestly about the fears, doubts and lows he experienced during chemotherapy - when he lost energy, lost his appetite and lost his hair – and he had to battle to find the will to survive. And, most importantly, he will speak to other sufferers to help them come through the sadness, loneliness, fear and desperation of cancer.
Like Lance Armstrong's 'It's Not About The Bike', 'In Different Form' will be a brutally honest account of a sportsman fighting not for victory, but for his life.
Milee Ashwarya, editorial director for Ebury Press, Random House India acquired the memoir from Shruti Debi at Aiken Alexander India.
Ashwarya say, "In Different Form helps us understand Yuvraj as a cricketer and as a person through his most trying times. I felt Yuvraj’s story needed to be told, and we at RHI are delighted that he has chosen us to help him do that."
Yuvraj Singh says, "From the World Cup to cancer, the last two years have taught me a lot. In the team I am someone who feels I can help youngsters with what I have learned from my mistakes and always keep the team in great spirits. After cancer when I found out how many cancer patients there are in India, I learned that I belong to a much bigger group of people. I can imagine they may be lonely, confused, scared. So, I wanted to share my ups and downs. Guys, we are one team. I am thrilled that Random House India have joined me in giving shape to this book. I am thrilled also at the coincidence that they published Lance Armstrong’s book. I can't wait to see this book become a reality."
Random House India will publish In Different Form on 12th December 2012 in hardback and also special leather-bound edition.
The truth of Satyamev Jayate
Since last few weeks we have seen viral effect across the nation for a television show hosted by Bollywood Star Amir Khan named “Satyamev Jayate” and these days ... we have come across a large number of people discussing and praising the show and also some of them were considering making donations and sending SMSs to the show in public interest, our purpose for writing this post is to let those people know that how and where their donations and revenue generated by SMSs will be used.
The foundation where your donations and income via SMSs will go is called “Humanity Trust” and this is the website of this trust: http://www.humanitytrust.com/
This website says that some of the objectives of their foundation are:-
Masjid Construction assistance. (Bore/construction helps)
Placement assistance for Islamic youngsters (notifications about jobs across various geographies )
Now look at the irony here: people from all over the country belonging to different religions and communities are sending SMSs and making donations, and you can see clearly that money is spent on people of just one particular community and religion – the Muslims!
Since last few weeks we have seen viral effect across the nation for a television show hosted by Bollywood Star Amir Khan named “Satyamev Jayate” and these days ... we have come across a large number of people discussing and praising the show and also some of them were considering making donations and sending SMSs to the show in public interest, our purpose for writing this post is to let those people know that how and where their donations and revenue generated by SMSs will be used.
The foundation where your donations and income via SMSs will go is called “Humanity Trust” and this is the website of this trust: http://www.humanitytrust.com/
Executive Committee:
1. Mr. Jagabar Ali.
2. Mr. R. Hakkim Ali.
3. Mr. Fazulutheen.
1. Mr. Jagabar Ali.
2. Mr. R. Hakkim Ali.
3. Mr. Fazulutheen.
Members of the Board of Advisors are as follow:
1. Mr. M.L. Raja Mohamed
2. Mr. M.S. NASICK
3. Mr. A Ahmed Irzath
4. Mr. S.Abdul Basith
1. Mr. M.L. Raja Mohamed
2. Mr. M.S. NASICK
3. Mr. A Ahmed Irzath
4. Mr. S.Abdul Basith
This website says that some of the objectives of their foundation are:-
Masjid Construction assistance. (Bore/construction helps)
Placement assistance for Islamic youngsters (notifications about jobs across various geographies )
Isn’t it unfair that first you are attracting people from different religions on emotional grounds, and when they fall prey to it and give donation, you are using that money for communal purpose without even informing the people where their money is going to be used? How will building mosques and madrasas helps our nation? And if it doesn’t then why are people of this country being fooled like this and no one is raising questions? Are only Muslims unemployed in this country? If not then why this step-motherly treatment to people of other religions?
See the truth at: www.humanitytrust.com
See the truth at: www.humanitytrust.com
( Source: studio toer )
What is Postable table?
Studio Toer presents Postable the table that fits in your mailbox
Postable is a stainless steel table design. It is a modular system. Each element fits within the outer dimensions of regular mail. A full-size dinner-table can easily be assembled from the content of one envelop. Postable is available in sizes up to about six feet long. Prices range from $230 to $850. Obviously, they’re shippable.
What is Postable table?
Studio Toer presents Postable the table that fits in your mailbox
Postable is a stainless steel table design. It is a modular system. Each element fits within the outer dimensions of regular mail. A full-size dinner-table can easily be assembled from the content of one envelop. Postable is available in sizes up to about six feet long. Prices range from $230 to $850. Obviously, they’re shippable.
Buy Postable online
The Postable comes in 3 sizes:
PS: €190.- incl. vat. - Postable Side table: 60*40*38 cm
PM: €390.- incl. vat. - Postable Medium Dinner table: 90*80*75 cm
PM: €690.- incl. vat. - Postable Large Dinner table: 180*80*75 cm
Shipping:
NL: from: €4.00
EU: from: €8.50
rest: from €17.10
Having a spouse who makes lots of money might seem like a good thing. But according to a new study of millionaires, wealthy households with a female breadwinner are filled with potential problems.
The study, conducted by SEI and Phoenix Marketing, found that a third of the women who are the financial leads in millionaire households say their partner feels “stressed” by their financial roles. By contrast, only 14 percent of males in male-led millionaire households said they feel tension from their partner.
"When you're dealing with relationships and money, stress is a given, and when a woman is the primary wealth creator the survey shows it's even greater," said Michael Farrell, Managing Director for SEI Private Wealth Management.
Sources of financial tension might include spending decisions, savings decisions and investment decisions.
The top sources of tension in all wealthy households were kids and money, along with control and charitable giving.
Why are women-led millionaire households especially stressed? The study doesn’t say. And there may not be more actual tension. Women, for instance, may simply be more likely to recognize tension in their relationship than men. And many couples with women bread-winners are no doubt perfectly content.
Men might feel threatened in women-led homes because in classic gender roles men are the providers. (And if this is the case, the 1,500 men who have applied to marry in China might beware).
Either way, female-led millionaire households is likely to become more common. About 22 percent of American marriages have a higher earning wife. Maybe it’s time for guys to get used to wives who make more than they do.
Why do you think there are tensions in women-led households?
The study, conducted by SEI and Phoenix Marketing, found that a third of the women who are the financial leads in millionaire households say their partner feels “stressed” by their financial roles. By contrast, only 14 percent of males in male-led millionaire households said they feel tension from their partner.
"When you're dealing with relationships and money, stress is a given, and when a woman is the primary wealth creator the survey shows it's even greater," said Michael Farrell, Managing Director for SEI Private Wealth Management.
Sources of financial tension might include spending decisions, savings decisions and investment decisions.
The top sources of tension in all wealthy households were kids and money, along with control and charitable giving.
Why are women-led millionaire households especially stressed? The study doesn’t say. And there may not be more actual tension. Women, for instance, may simply be more likely to recognize tension in their relationship than men. And many couples with women bread-winners are no doubt perfectly content.
Men might feel threatened in women-led homes because in classic gender roles men are the providers. (And if this is the case, the 1,500 men who have applied to marry in China might beware).
Either way, female-led millionaire households is likely to become more common. About 22 percent of American marriages have a higher earning wife. Maybe it’s time for guys to get used to wives who make more than they do.
Why do you think there are tensions in women-led households?