Archive for the ‘Uncategorized’ Category

I got my earliest introduction to the pleasures of reading, from my father. He was an avid reader, and consumed a lot of books. He was very diligent with some of his self-development and management boos reading. He would make notes, re-read the chapters, and in short, ensure that he absorbs the book to the max.

I picked up the habit and would read a reasonable amount of books and magazines, when I could. I used to read fiction as a student, but have more or less stopped reading fiction for last 10-15 years. I get all my fixes of fiction from movies!

But I have tried to keep pace with non-fictional reading all these years.

During the period of 9-10 years when we were nurturing our Internet startup, Homeindia.com, time was really sparse. And the reading volumes fell significantly. I used to miss reading, and used to feel miserable when I did not read a book for 4-5 months sometimes.

But then, I discovered audio books! They were a God sent. I had long commutes to work, and I managed to use these well, while devouring one audio book after another. It was a great habit to form again.

While a printed book is always a preference, as you can stay on a page, ponder over the thought, think about how it fits your own situation, before turning the page over, the same is not possible in an audio book. The audio book keeps moving ahead, and you have to strive to ensure that you keep the concentration. But this one disadvantage aside, I value the fact that I can at least manage to cover books, rather than not doing so at all!

I graduated further, after a couple of years, to the iPod. And this opened up so many more avenues. For one, the audiobooks came on the iPod, so I did not need to carry CDs around.

But more importantly, with the iPod, I got introduced to the world of Podcasts. I have over time, subscribed to so many different topics of podcasts, and these have enriched me across a wide variety of subjects, and I have enjoyed them tremendously.

I continue to listen to podcasts and read audio books, regularly, now, on the iPod.

What saddens me as I look around me – to my friends, family, colleagues – is that they all read so litle these days. In fact I see a drastic reduction also in the newspaper reading habits.

How will these people enhance their knowledge, their skills? The knowledge on any subject stays so superficial without the accompanied reading support?!

I am so glad for my interest to read, and for having hit upon audio books and the iPod, which have been able to keep my reading habit going strong!

The mind does not stop working on possible reasons why Ramalinga Raju made this big confession. I am not going to believe that suddenly he got a call on conscience. That is utter nonsense.

Yes, there was the angle of DSP Merril Lynch going to SEBI to let SEBI know that they are withdrawing from the mandate due to specific reasons. But that still prompts the question – why did DSP Merril Lynch wake up suddenly? They have been associated with the larger Satyam group including with Raju in his individual capacity, for long now. And if they are so close, could they have not known the wrong doings for so long?

So I keep fishing for ‘yet another angle’ 🙂

Me and my investigative mind.. 🙂

In criminal investigation style, we start with “who could have the motivation” for conjuring this up?

Consider the scenario:

  • Satyam was already looking for merger / acquirer opportunities,
  • Several must have already checked them out (many names were coming in the press, in the days preceding),
  • Say, one of them got serious and was working towards a closure, and doing due diligence at that stage,
  • And at which point, the cracks were visible,
  • Even so, the acquirer was interested, but at a far lower valuation,
  • Which if it had gone through, there would have been huge uproar from the markets, as to why Satyam was sold at such a low valuation,
  • Without reducing valuation, the acquired would have not been interested,
  • The deal needed to happen, as Satyam cash flows were precarious,
  • Raju and family were owning very small equity now,
  • If Raju went beserk in the manner that he did, the stock would collapse,
  • Nobody would touch it,
  • The core assets, be it customers, employees, real estate owned, would not disappear overnight; they had nowhere to go that easily,
  • And at those low valuations, the interested acquirer picks up the company,
  • And passes back to Raju and family, off-record, some benefit, for having orchestrated the event,
  • Also leaving enough room to put out money into political patrons, who would ensure that after all the uproar, not much damage is caused to Raju and family.

A SERIOUS WIN-WIN PROPOSITION, WHAT SAY??

To illustrate with numbers, for better understanding:

  • Say, Satyam valued itself earlier at 100,
  • On due diligence, acquirer figured that Satyam was not worth more than 60,
  • Deal could not happen as market would not accept Satyam value of 60,
  • Raju writes letter and lights the bomb,
  • Now the acquirer can potentially pick  up Satyam at 5,
  • In the madness, Satyam value might have gone down to 40 from 60,
  • That still gives a neat discount of 35 to the acquirer,
  • He shares 10 with Raju and family, leaves 10 for political helpers, and keeps the rest for himself,
  • Not bad, eh??!

Yes.. the investigative mind working overtime…!

🙂

Okay, so “satyam” was trending on Twitter, and news channels and newspapers have been filled a plenty with all persepctives on the Satyam story.

Amongst other things, the two most asked questions have been:

– Why did Ramalinga Raju confess to his crimes, at this time?

– How did PWC allow such nonsense to be going on for so many years, even as they were the auditors who signed off the balance sheets?

So here is a contrarian thought – at least I have not read this view point so far.

What if PWC was not really wrong? What if they actually did the verification of the cash and bank accounts before confirming the balances?

What if the said balances were TAKEN OUT recently??

Rs. 5000+ crores is a large enough booty for any fraudster to make a major conspiracy for. Take out the money, invest in property, expect the property to appreciate even more than the kind of money that Satyam could make in it’s core business?

If he did that, PWC did not know about it, till the last annual balance sheet that they might haev signed off. And in which case, they were on the right path till that point. If Raju siphoned off this case more recently, this big confession, and dragging down of an asset where he had only 3.14% equity left – that too pledged out and borrowed against – was an easy way out to explain all his sordid crimes. And with a kitty like Rs. 5000 crores, plus the cash he would have stashed away earlier, there was enough money to keep prolonging the legal case, till it falls off public memory.

And in between, if he needs to go and spend a few nights in jail, it may not exactly be a bad price to pay.. Think about it…

On the other hand, as far as the Indian stock exchange is concerned, its jinxed out at this time.

First the global economic crisis hit. And the markets fell.

Once investors started realizing that India was not that bad off, they started picking up the stocks again. And the market was making small recovery.

Then the Mumbai terrorist strike happened. And the house came crashing down again.

Once again after about a month, the markets were gradually making their way up.

When Ramalinga Raju, the other “terrorist” struck!! And the free fall happened once more..

As I said.. markets are jinxed! 😦

Come across some of the most shocking instances in recent days, that convinces me that we, the ordinary citizens, are helpless fools, and much as we agonize over things, shit happens!!

Some stark examples:

  1. Vilasrao Deshmukh, after resigning as CM, does not feel it necesary to attend the Legislature. And he justifies it in public saying that “now he does not have any specific responsibility, so what’s the big deal about attending the House?”.  Is he so pathetic as to not realize that he is an elected representative, and his constituents would expect him to be in the House, and playing a role?? CM or not??
  2. R R Patil, dropped as Dy CM, on account of Mumbai terror attacks, is made the head of the NCP Maharashtra unit. So where is the accountability factor? Punishment for being responsible??
  3. Chhagan Bhujbal, involved in Telgi scam and other messes, and who had to vacate his chair earlier, is quietly brought back, again as Dy CM..?! Again, what about accountability?
  4. The board of Satyam, a public company, involved in IT, having name brand independent directors on the board, still go and strike a deal with the Chairman’s family owned infrastructure and real estate companies, for a staggering $1.6 billion. And actually expect to get away with it. Because after all, shareholders are supposed to be suckers (could not go through, however..!)
  5. Telecom licenses which were always auctioned earlier, given away to new and unknown entities, for peanuts, and on a “first come, first served” basis. And those entities, immediately go and sell stakes in their companies, for HUGE profits. No heads have rolled so far. The minister is not feeling an iota of guilt. There will be the political protests and the Joint Parliamentary Committees, so that all the politicians can get their own share of the loot. As far as citizens are concerned, they know the public memory is small, and this too will be forgotten and forgiven!
  6. Amar Singh, crooked Indian politician contributes more than $ 1 million to a Clinton fund. As do others from India. But Amar Singh? Any questions on the sources of the income? And why the Clinton fund? What goes on here? We the suckers of the world, the citizens, cannot question!!
  7. Cabinet minister, A R Antulay makes allegations about the cause of death of ATS Chief during the Mumbai terror attack. Crass, crude and clueless as these statements are, and also for once, not appealing to ANY section of society, he still insists on making these. Perhaps with an idea to break the for once, united thought across the country. The Congress apart from distancing itself from his statements, does not have the guts to take action against the minister, nor condemn him in public. Because they fear minority vote backlash. And we the citizens of the country need to be silent observers to this nonsense.

When will things change? When will a common man ask questions and expect to be answered? Will it ever happen? Do I live in a dream that life can be different?

I have no answers. Meanwhile… shit happens!

In the last couple of days, I picked up a common thought across three completely unrelated media events.

Event 1:
In the first instance, I saw on TV, an interview with Anupam Kher. He was talking about his very first movie which was a big success, and where his work was appreciated, “Saaransh”. He was referring to the scene in the film where he goes to claim the ashes of his dead son, and breaks down in front of the officer. He says that the scene had multiple takes and each time, he managed to cry out very well, and with a lot of emotion. The scene was one of the key scenes of the movie. Anupam confessed on this interview that while doing this scene, he was not thinking much about the character, or the character’s son who had died, etc. Somehow he was thinking that if this film does not work, he would have to head back to Shimla, from Mumbai. And that thought was making him cry and in turn, bringing out the best in him!!

Event 2:
Then I read an interview of Indian captain M S Dhoni, where he was also describing his entry into the Indian team. He said that after an India A tour where he was a member, he started to get a feeling that he will at least get one chance to play for the India team. At least one chance! And he did get that one chance when he was selected for three matches. And somehow he did not click in any of them. He hoped against hope that he will get one more chance. And which he got in a while. Now he was clear that if he did not make it, he will be lost in the oblivion of Indian domestic cricket. This was it – his last chance to show that he is worthy of a place in the Indian team. Then, it was that thought of being written off, and the pressure that it caused, that made him work very hard in that outing, and he managed to hit a ton. Staring at the possibility of having to go back to his old life made him raise his level and fight it out, and succeed!

Event 3:
Today morning’s paper carried an interview of Ms. Indra Nooyi, the Pepsi CEO, and she said that she owed her success in great measure to the fact that she did not have a safety net. That should she fail, she’d have to take the next boat home, and that thought made her work harder and achieve the success that she ultimately did.

There is an interesting pattern across these three otherwise unrelated messages. That the fear of failure, and the relegation back to the not-very-desirable life made the persons work harder towards their goal.

Interestingly, I carried a different thought most of my life. Somehow on account of various factors, pretty much right through my education and my working life, I always had a perception of having a ‘safety net’. When friends were working hard during exams, for it was a make or break in terms of career prospects for many, mentally I used to feel that I always had the family business to go to, and I was less stressed. That I did not do too badly over time, made me feel that perhaps the lack of pressure was allowing me to deliver my best?

But now I think again. Could more stress have driven me to even greater levels?? Do I give my kids the feeling that they have a safety net, or do I tell them that they better make it, or else…?!

I was not taken in by the 20 overs cricket concept as I felt that this “slam-bam-thank you ma’am” format would just be festival cricket and no more. A combination of curiosity, media blitz and convenient timings ( 9.30 pm starts) got me viewing these games and after seeing a couple of these games, I can say that I am a convert of sorts.

I had felt this often about basketball games. That more often than not the two teams stay close to each other in scores over 3 quarters, and perhaps even a bit into the 4th. And that the game is finally decided in those last 5 min depending on which team plays a tighter game then. And I have wondered that the first 3 quarters are only charades. Why don’t they just start the game at 75-75 and play for just 15 min calling it the 4th quarter?!

Well twenty20 is that equivalent in cricket!

In normal 50 overs cricket you see an initial fast paced batting in the first ten overs, then some consolidation, wicket conserving and
soft pace setting over the next 30 overs before a final onslaught again in the last ten overs. Twenty20 cricket is all of the above but without those middle 30 overs! Like taking out the first 3 quarters of basketball!

You would think that it would basically be a batters game then. Yes it is so. But you still see some inspired bowling performances. Like R P Singh yesterday against South Africa. What the bowlers don’t have is the luxury to settle down to a line and length. They need to get it right from the first ball that they bowl. And the yorker is the ball to bowl, again from early indications. There is a huge flurry of sixers being hit (Yuvraj hit 6 in an over!!), so anything that is remotely short has a chance of being walloped over the ropes. The bowler’s best chance is to pitch it up and aim for the yorker. This is unlike the ODIs, where to some extent, short balls also work. Mainly because the batsman is more conscious about not losing his wicket – there may be another 20-25 overs to bat through there. Here, batsmen are far less concerned about their wicket, and in the interest of scoring, they are willing to sacrifice the wicket.

The fielding needs to be top class. On the ground and in catching as well. Dinesh Karthik took a catch yesterday that could be about as
good as any that I have seen taken on a cricket field!

On the batting front a team may always seem to ‘have a chance’. Even from 30 for 5, a team could potentially end up at a score of 150 and which could be defensible. After all the tail needs to wag only for say 5-10 overs which maybe they could manage, and in the process bang around a few runs as well.

I guess there is not so much established strategy to the game yet. The captains and the coaches are experimenting still. Like how to do the bowling changes (with just 4 overs max per bowler, how do you give the bowler multiple spells, for example!), or the batting order (every batter has to be potentially a pinch hitter…). The strategy will come as they play more and learn.

Those cliched statements of ‘the game is not over till the last ball is bowled’ or ‘the better team on the day will win’, are all the more true in this form of cricket. Australia lost to Sri Lanka. Sri Lanka and South Africa both looked very good teams and both have not made it to the semis also. Being a short form game, one bad move can mean defeat as there is no room to wiggle out of a spot and recover. Which is why, established good teams could also end up losing.

From a spectator’s point of view, the format is good. In about 3 hours, you see the whole game and its all over..

And meanwhile from India’s point of view, Dhoni appears to be (touch wood and all that) a lucky captain so far. We have made it to the semi finals, although till date, we are amongst the least experienced Twenty20 sides.

Of course, it could be a ploy to ensure that the game becomes a hit in the largest paying market for the sport…

On account of the murder of Bob Woolmer, a lot of media attention centers around the role of betting and match fixing in cricket. And we also know that India and Pakistan are the most active in these areas, so there is a natural suspicion if the early exits of both these teams had causes other than cricketing ones.

Nothing can be said for sure, for even if these rackets exist and there is betting and match fixing, it is so well controlled that the common fan is almost never going to know the truth. Earlier, I have conveyed that really, it does not matter if matches are fixed! Yes, I said that..

In that respect, I feel that watching cricket can then be treated to be similar to watching a good movie. The director has already planned for the end, and it will be as he pleases, but we, as the audience wait with bated breath, till the end, to figure out what the end is. Let the cricket game also be so. Who cares. As long as the game is good, and we enjoy it.

It is only when the game deteriorates in quality that we feel cheated, and then, if its on account of match fixing, it feels terrible.

So speculating wildly that India’s loss could be on account of match fixing, how can that be so?

Well, like we were all thinking that it could be the last World Cup for guys like Sachin, Saurav, Dravid, Kumble, etc. And for which reason, these guys would want to work hard to see if they can get the World Cup home. On the other hand, think differently. This being their last World Cup, and betting being as large as it can possibly get, they could also have got their opportunity to make the most money, out of match fixing – that opportunity being again, something that will never repeat in their lifetime. If that was so, could they have chosen to throw the games away and made a huge packet each??

Could the obscene amounts of money that players make, without commensurate performance, have been partially responsible for the loss? Could be, for the following possible reasons:
a. The players are so rich that their egos do not allow them to listen to coaches or trainers. They end up doing what they want, and do not prepare adequately for the big games!

b. The money allows them to pay PR teams, and ensure that they stay in the news positively, even when they are failing. Examples of Sehwag and Harbhajan come to mind, in this scenario.

c. Do the large endorsement deals that players sign, get the marketing companies to influence selectors, to pick the concerned players, ahead of other deserving candidates?

Its for anyone to guess.

The role of the board, the selectors,the administrators of the game, and corruption in those high places, cannot also be underestimated. But that is such a cesspool that I cannot imagine what conspiracies could be playing out there!

Finally coming to the role that the expectations of a billion fans brings about, the fact is that when going is good, these same players are willing to ride those good times, and bask in the sunlight. Then, by the same token they should be prepared to face the brickbats, and also learn to handle the pressures. That can never be an excuse for non-performance or under-performance!

Words of wisdom

Posted: February 18, 2007 in Uncategorized

Recently I met up with a very respected ex-Principal of my Alma Mater, VJTI. He was a teacher to me, during my engineering college days. It was a pleasure to meet with him.

The discussion veered to the topic of concern for most parents, viz. the future of our kids. Whether with so many options in life today, with the influence of the media and the peers, the Internet and all, are kids taking the right decisions in life. Can we as parents guide them correctly, etc.

And our professor, who has seen thousands of students go past him, and who has seen the amazing changes happen year after year, had this to say.

That as parents today, we cannot really control our kids’ lives, nor decide on their behalf. What lines will be good tomorrow, what they should do, is not easy to choose. At such times, all we can hope for, is for our kids to have good company of peers. Where they can be exposed to intelligent talk and discussion. Thereafter, what they end up doing is their choice, but based on the company, they should be lead to a good decision about their life.

I was amazed at this thought. Coming from a teacher, who I would have expected to emphasise on education and the like, this was a very plain statement, and I see a lot of wisdom in these.

Wanna see Bollywood stars??

Posted: November 3, 2006 in Uncategorized

So you want to see some Bollywood stars at close quarters? Perhaps use your cell phone camera to click their pictures too?

Hey while you are doing this, how about also praying to Lord Ganesha? That way you manage to see God and the demi-Gods (or Goddesses)also.

So what is the full proof way that I have to suggest? Its simple really.

Just keep track of new movies that are due to release on the Thursday or Friday. And then, for 1-2 days before the release date, camp outside the Siddhivinayak temple in Mumbai, early in the morning. Of course, duly equipped with your camera phone etc. And while you are waiting for the star/s to turn up, you can also pray to the Lord. Yes, after all, before all auspicious activity, you need to invoke Lord Ganesha. And so you do here too..

Once that is done, take a good position and wait. You could see an Abhishek Bacchan walking in or maybe an Aishwarya Rai. They’d be without make up. Usually all serious looking, as they come to pay their respects to the Lord, before the release of their film.

Yes, indeed, its become a fairly routine practise now. Like on Friday morning, if we are to see reviews in the papers, then before that, on Thursday morning, you would see the photo of the star/s at the temple. That predictable, its become now..

Hey, while you are waiting for the big star/s to arrive, you will usually also spot some of the lesser ones, like a Bakhtayar, who is preparing to take the big prize in Nach Baliye – he is doing the rounds of Siddhivinayak temple, each week. There are others as well.

Happy celebrity spotting!

I have been a very vocal fan of Team India as led by Rahul Dravid and Greg Chappell. The initial efforts, the thought process that was going in, was admirable I thought. Something simple like how a player had to be good in at least 2 things out of batting, bowling and fielding, was a very good idea, I thought. Also the youngsters seemed to be responding so well – Dhoni, Pathan, Patel, Sreesanth, Raina, etc. All of them seemed to be thriving in this new environ, it appeared.

So whats gone wrong suddenly? If it was just a 1-2 games loss, I would have not worried. I would trust the long term goals and efforts, and not worry about an occasional loss.

However its gone beyond that now, I think. Today’s game against Australia saw a lack of application in batting, very ordinary fielding for a supposedly young side, and extremely lacklustre bowling, with lots of wides and all.

This does not give me any kind of confidence in the team and its tactics.

Something seems to have gone wrong in the whole planning process. Somewhere there seems to be a lack of confidence in the methods or the players are just not able to cope up with the extent of effort that team Greg Chappel demands. If the sneaked out press report of Chappell’s firing to the team is any indication, there seems to be a disconnect between the players and the coach.

It would be easy to suggest that we change coaches then. But the fact is that the ones who are not delivering are the players on the field. The problem is there and not in the coach or the captain. So close to the world cup, we are in a sad state of affairs, it appears. To make things worse especially for our morale, we are going to visit South Africa and play 5 ODIs at the beginning. I wouldn’t be surprised if we lose 0-5! How will we then prepare mentally from that point on, to the World Cup, is beyond me!

A billion people can only pray.. the playing has to be done by the eleven on the ground, after all… !