meek-investor

On Monday Judge Robert Sweet struck a blow for common sense in that mind boggling area of Patents in the US. He invalidated several patents on two breast cancer risk genes in the human body issued to a bio tech firm. He had a breathtakingly simple logic – you can’t patent a product of nature ! The principle of protecting innovation through patents has been rather stretched in the US. All sorts of stuff gets patented. Many of these are primarily designed to block, or sue, others. The Patent Office uses the criteria of novel, non obvious and useful in determining whether a submission qualifies for a patent. It should also add non trivial, non absurd and non laughable as criteria ! For your reading pleasure here are some actual patents issued in the US -Method of stopping a stolen car without a high-speed chase, utilizing a bar code (well ; the barcode is to identify the vehicle; the method of stopping it is to switch off the engine) - Anti-Eating Mouth Cage (presumably a weight reductio

Mr Vikram Pandit Chief Executive officer Citigroup Inc. New York United States of America Dear Mr Pandit You are probably used to receiving hate mail, but here’s a letter that you might be very pleased to read. I read in the Wall Street Journal that the United States Government is planning to sell its 27% holding in Citigroup over the next few months. It is heartening to note that US tax payers are expected to make a profit of $ 7bn from their original “bailout” money that they gave to Citigroup. You have not only paid back the entire amount, but also let the taxpayer make a profit of $ 7 bn. Yours was the last bank from which the government is completely recovering the money it lent under the Troubled Asset Relief Program, more popularly called as the bank bailout. The US government invested a total of $165bn in all the banks and in the end it has made a 14% return ; not bad considering that if the tax payer had invested in the S&P index at the same period he would have lost 3%

Such was the title of Khushwant Singh’s column in the Illustrated Weekly of India . Both the gentleman and the magazine are perhaps unfamiliar to the “teenagers”(the list now officially includes ambulisamma and Vishal) who visit this blog. But there was a time when it was the only English magazine in India and Khushwant Singh, as its editor, was the most famous journalist. Despite the title, the column was usually humorous, although he did take pot shots at all sorts of people. This light hearted Sunday post is in similar vein, the writer having woken up today in an impish mood. In every country there are provincial jokes, and China is no exception. This popular tale sent me rambling off. An alien came down to earth and landed in China. It first landed in Beijing. Immediately the people decided that it was a great political victory that must be showcased to the world as proof of the supremacy of the Communist Party and the Han race. The alien then went to Shanghai. Here the people ar

The bribery mess at Daimler makes sorry reading. Every party involved is showing up in the worst possible manner. Whatever promoted a global corporation of the standing of Daimler to be in this situation ? The case is as follows. Daimler is accused by the US authorities of paying bribes of tens of millions of dollars in over 22 countries over a 10 year period. Daimler, it is reported, has agreed to pay a $185 m fine to settle civil and criminal charges. Daimler, it is alleged, set up shell companies to channelise the bribes, Bribes have included gifting an armoured car to a Turkmenistan official, siphoning of funds to the bank account of the wife of an official in China, 10% kickback to Iraqi government under Saddam Hussein, and so on and so on. It makes sordid reading. First culprit is Daimler , of course. This has been going on systematically over a number of years. A lot of people have turned a blind eye to the goings on. At best, this can be calculated ignorance, and at worst, acti

You may have noticed the news item that Maruti announced that it had rolled out its millionth car in a single year ; apparently it joins global giants like Toyota, GM, Ford etc ; a handful of companies to have achieved this. For non Indian readers of this blog, Maruti is a Suzuki controlled Indian car company that’s the market leader in India. Such statistics mean little except dubious PR value. But it certainly set me off to wax nostalgic about when Maruti first came. Readers of this blog are refreshingly young. Teenagers like AJCL, Gils, Deepa, Sandhya, et all, were hardly born when the first Maruti car rolled out on Indian roads :) Being slightly elder to this sprightly young lot, I have some credentials to a “those were the days” kind of post. This is the late seventies; early 80s. India was firmly a socialist country. This was the time we actually amended the preamble to the Constitution to include the words socialist India (it still sits in the preamble). The Taliban would have

Pepsico will announce today that it will cut levels of salt, sugar and saturated fats in its top-selling products by a quarter during the coming decade amid rising pressure from governments to encourage healthier eating. At the same time it will be increasing whole grain, fruit, vegetable, nut, seed and low-fat dairy content. Other food companies are all doing the same thing, bowing down to a variety of pressure groups – governments, WHO and a sundry assortment of noise makers. All food companies live in mortal terror of getting sued. McDonalds is the one that is most vulnerable – that’s why it is falling over itself to offer “healthy options”. This is to give Joe Public the perverse satisfaction of ordering a Big Mac and a Diet Coke ! Some obese overweight individual is going to win $100m from some food company – its only a matter of time. It’s a question of when, not if. Can my voice be heard in this cacophony please. I do not want a healthy alternative – when I want that I will go

Mark’s China Blog is one of the best China blogs around. Mark used to live in Xi’an until late last year when he returned back to his native US. He continues to write on China – his posts are meticulously researched , very interesting and has a very balanced perspective on this fascinating country. He’s currently writing a series called – Chinese cities you’ve never heard of, but should know. It’s a brilliant series and this Sunday post is just a link to his blog. I am willing to bet that non Chinese readers of this blog would not have heard of these cities and this series is a fascinating peep into urban China. For Chinese readers of this blog, it is worth your while to dodge the jindun gongcheng and reach there - you will find a Sinophile’s perspective on your cities interesting. Either way it’s a wonderful read. Happy reading !

"To recall , or not to recall; that is the question". With due apologies to Shakespeare, this could very well be the modern day conundrum for businesses. The travails of Toyota , with its recalls, are very well known. What prompted this post is the news of recall of 1.2 million high chairs (the sort you strap your child to), because they could pose a fall hazard to children. Readers of this blog know well that this writer is an opinionated individual, prone to verbal excesses and assumes a god given right to hold a point of view on any subject under the sun. The less he knows about a topic, the more strident is his opinion ! For a change, here is a topic on which he confesses to not being sure about; hence both sides of the coin in this post. The case in question is about high chairs produced by a certain manufacturer in the US. Apparently the risk is that "screws holding the front legs of the high chair can loosen and fall out" and cracking plastic brackets can cau

Murray Hill is running for the US Congress. At first glance, nothing seems to be wrong with that – surely anybody can run for Congress. But then Murray Hill is unique and a first. For its full name is Murray Hill Inc. It’s a company; not a person. An interesting article in the Economist (click here ) examines this quirky issue superbly. This is a consequence of a landmark US Supreme Court judgment in January. In a bitterly divided 5-4 decision, the Supreme Court ruled that the First Amendment free speech rights extended to corporations. The biggest impact of this ruling would be that no limits can be placed on political contributions by businesses. The impact of business on politics is bound to increase, and this has generally been considered to be not a good thing. But another consequence of the decision seems to be what Murray Hill is contemplating. It faces huge hurdles for sure – there must be a myriad of other laws that require a candidate to be of flesh and blood. As The Economis

Industry, scholarly and policy discussions about the future of the news industry in North America and Europe continue to focus on how news enterprises can sustain themselves in the 21st century. Publishers keep asserting that things will be fine if they can erect pay walls and charge for news online and they argue that governments should provide legal protections for online news so they can make news a viable digital business product. Their approach is wrong and ignores the fundamental reality that news has never been a commercially viable product because most of the public has been, and remains, unwilling to pay for news. Consequently, news has always been funded with income based on its value for other things. Historically, the first collection and dissemination of news was funded in ancient times by emperors and kings, who used governors and officials throughout their realms to collect news and information and send it to the seat of power. Emissaries, consuls, and ambassadors collec

If ever there was a misleading title to a post, this must be it. This is not about cricket at all. Neither is it about Bertie Wooster. Instead it’s a most ungentlemanly rant. Readers may recall that I had railed about the behaviour of US Congressmen towards Akio Toyoda here . Something similar has now happened with British MPs and Kraft. This growing trend of activism by politicians towards business is dangerous. What happened yesterday was this. Kraft was “summoned” to appear before the House of Commons’ business, innovation and skills committee (let us lightly pass over the delicious irony of the words skills and innovation being featured in the same sentence as MPs !) Unlike the brave Toyoda-san, Irene Rosenfeld, Chairman of Kraft ducked this one and sent Marc Firestone Kraft’s head of corporate and legal affairs. Marc Firestone, as far as I know, is a US national. He is not a subject of Her Majesty and British MPs have absolutely no right to behave as they did with him. You can rea

Amidst all the ruckus caused in the Indian Parliament by the Women’s Reservation Bill, you could be forgiven for having not noticed the stalemate regarding the Civil Liability for Nuclear Damage Bill, 2010. You would even be forgiven for yawning at the very mention of this “exciting” piece of legislation. Spare a minute to consider how important this is. Anybody even remotely familiar with India will easily relate to the abysmal power situation in the country. That Indians have come to accept power cuts as a way of life is a sad commentary on Indian stoicism. The worst way to solve the power situation is for each building and shop to own a DG set – it’s the most inefficient and polluting solution possible and yet this is exactly what we do. As India grows, its power needs will multiply manifold. Where will this power come from ?? Coal ? Too polluting. Hydel ? Not much scope and in any case the likes of Medha Patkar will make it impossible to implement. Oil ? Will increasingly become un

This being Oscar season, it is but natural that some awards float around in the blogging world. But I was completely bowled over to receive an award from le embrouille blogueur . For those of you challenged on the intricacies of French, he is the very opposite of “le embrouille”. Superb blogger, who is however in “prison” these days and hence not blogging very often – but when he does, he produces masterpieces. Thank you THE blogueur. I am much tickled by the “Beautiful Blogger Award”. I have been accused of many things, but beautiful ???? :)!! Whew ! I have been walking around with a silly smile on my face ! Bloggers love to keep chains going. Hence any award or tag comes with conditions. This one says - thou shalt 1) Thank the person who gave you the award 2) Paste the award on your blog 3) Link the person who nominated you for the award 4) Share 7 things you find to be beautiful around you 5) Nominate 7 bloggers or more No 2, I cannot do – thanks to the Net Nanny. Complaints on thi

Pink Floyd was always a unique rock group and understood its music as a form of artistic expression. It evolved from psychedelic music in the 1960s to progressive rock known for rock instrumental and acoustic effects in the 1970s. The group often saw their albums as integrated works of art in which subsequent tracks built upon earlier ones. They considered their entire recording to be art; that the ordering of tracks was part of the expression and should not be altered, and that the album should be enjoyed as a whole not merely as a collection of individual songs. Even the album covers got special artistic attention reflecting their content and experiences. The band felt so strongly about the art of its music that it negotiated a contract with EMI that included a provision to “preserve the artistic integrity of the albums.” Consumers obviously thought Pink Floyd got the art right, helping the group achieve 16 gold, 13 platinum, and 10 multi-platinum albums. Two of its albums sold more

National stereotypes are always wrong, but that doesn’t prevent us from indulging in them for fun. This blog has some pretense, to serious, thoughtful(?) and boring discussions on business. But on Sundays, this blogger takes a break to write an irrelevant, and opinionated rant on anything other than business. This Sunday, we shall venture shamelessly into an outrageous extrapolation of day to day incidents into national stereotypes, which are of course wrong - but then, since when has blogging got to be “right” ? Take this situation you see everyday on the road. Some vehicle has hit another. Nothing much has happened – just a few dents. But what happens next is dependent on where you are. If you are in Europe – both will stop, get out of the car and start to “talk” to each other. The more northern you are in Europe, it shall be an admonishment for not following the traffic rules and a firm statement that you are in the wrong. The more southern you get, the voices are more raised, sh

The mantra of all business (actually most walks of life) is superb & outstanding performance isn’t it ? It shouldn’t ! If this sounds absolutely ridiculous, read on … Everywhere, the great performers are the stars. They are the ones who get big bonuses. They are the ones who get promoted lightning fast. The division that shows triple digit growth is treated akin to God. The bunch that didn’t meet its target is screwed. The lot that exceeded target by 354% is taken on an all expenses cruise to Hawaii. Right ? Maybe not so right. One of my blogging friends took a light hearted dig at me for a mantra that features about once every month in this blog – If its too good to be true, its too good to be true ! I have learnt over the years to watch out for superlatives. Good performance – absolutely the minimum. Better than good performance; holy grail. But superfantasticstupendousunbelievable performance ? Take it with a huge pinch of salt. One of the truisms in the business world is th

NGOs find companies as soft targets for bullying. Companies, who are incredibly image conscious can easily be bullied – so catch hold of a company, drum up enormous publicity and companies have no choice, but to fall in line with whatever aim that particular NGO is propagating. Let me state up front – I have no quarrel with many of the objectives that most NGOs are propagating. Some are loony, but most are very laudable. Many NGOs are highly motivated, care genuinely about their cause and altogether want to make the world a better place. But NGOs have fallen prey to the classic trap of the end justifying the means. The causes that they propagate, relate to public policy. The correct way, in a democracy, is to take these to the voters, convince them of the merits of the policy, get elected to parliament and then pass legislation to that effect. That’s of course inconveniently long and painful and often fails to get voter endorsement. Therefore the quicker, easier (and wrong) way is to b