meek-investor

The right to free speech is a right whose value you only appreciate when you don't have it. This blogger has experienced what it is not to have that right - where every conceivable & useful global site on the internet is blocked, where any non state controlled TV channel is simply unavailable and where the press is just plain awful. As it would be for any blogger, the right is a precious one. There is the usual saying, I don't like what you say, but I'll defend your right to say it. But is the right to free speech as absolute as it is thought to be. Should it be ? No right is absolute. Even in America, where the First Amendment protects free speech,  Jutice Holmes Jr in Schenk vs United States observed that shouting Fire falsely in a crowded theatre will not be protected by the First Amendment. In many European countries, denial of the holocaust is not permitted. Recently incitement to religious hatred has also been brought under the ambit of no nos. In India, writings ...

If I told you that the most important person in the world now is Deven Sharma, you are most likely to be flabbergasted. Deven who ?? I am absolutely certain that not one reader of this blog has heard of him before. In fact I am sheepishly admitting that I had not heard of him either, one week ago. And yet for the next one week, he may actually be the most important man in the world. Of course, this is hyperbole. But then what is journalism (ha ha) without some excessive exaggeration of reality. You can debate about the "most important man in the world" bit, but the actions of him and his organisation are certain to affect the world very profoundly in the week to come. Deven Sharma is the President of Standard & Poor's one of the world's three premier credit rating agencies - Moody's and Fitch being the two other. In a short while, all the three agencies have to take a call on downgrading of America's Tripe A rating. The drama in America on the debt ceilin...

Does nationality still play a major part in deciding who should become the Chairman or Chief Executive of the company. It shouldn't, right? But of course it does. Except, to its eternal credit, in the United States of America. A country pretty much devoted to meritocracy and where, by and large, only merit counts. It doesn't matter where you are from or whether you are white or black or yellow or grey or blue. Perhaps to a large extent in the United Kingdom as well. But that's it. Everywhere else, it seems only a local can be a boss. Consider the succession saga at the mighty Deutsche Bank in Germany. The current CEO, Josef Ackermann is expected to be kicked upstairs to the Supervisory Board. A new CEO is to be appointed. There is general consensus that the best candidate is Anshuman Jain. The problem is that he is Indian, not German. And to add insult to injury, he reportedly does not speak much German either. This apparently won't do as the boss of Deutsche Bank will ...

It's an Australian winning the Tour de France for the first time ever. Just got off the telly watching the final stage of one of the most gripping of races for many a year. On a bright sunny day in Paris, against the wonderful backdrop of the Champs-Élysées, the sight of Cadel Evans winning the Tour de France was a moment to savour. Apologies to the readers who are not sports fans, for the second consecutive sporting post. But this was a special race and a special result that I simply can't resist posting about. The Tour de France is the world's premier cycling race. Has been so for 100 years. It is run over 3400 kms and in 22 days. One of the greatest endurance events in the world. On flat stages, cyclists clock average speeds of 50 kmph. Steep climbs have to be negotiated and on the descent, crazy speeds of 90 kmph are reached. The majesty of the towering mountains of the Alps and the Pyrenees provide the backdrop. As does the beautiful French countryside. And some grip...

What do you do when your industry is changing? What do you do when your innovations are fueling the changes? Those problems have plagued Eastman Kodak Co. for three decades and the company’s experience provides some lessons for those running legacy media businesses. Eastman Kodak’s success began when it introduced the first effective camera for non-professionals in the late 19 th century and in continual improvements to cameras and black and white and color films throughout the twentieth century. Its products became iconic global brands. The company’s maintained its position through enviable research and development activities, which in 1975 created the first digital camera. Since that time it has amassed more than 1,100 patents involving electronic sensing, digital imaging, electronic photo processing, and digital printing. These developments, however, continually created innovations damaging to its core film-based business. Digital photography created a strategic dilemma for the com...

If you are a sport's fan , you are somewhat spoilt for choice today. If you fancy sublime South American football, the Copa America is on in Argentina. The final day of the British Open golf, with all the hype surrounding the next Tiger Woods - Rory McIlroy may be your choice. Or the majestic Tour de France, the world's premier cycling event, thankfully free of any doping scandal so far. But my pick of the day is none of this. You may be forgiven for not realising that the World Cup football final is on today. Yes, right. World Cup Football. Rub your eyes again. Yes. Its the Women's World Cup football final. Before you groan and switch off, just consider the fact that the Women's World Cup has produced more drama, excitement, heartbreak, and joy than the boring Copa America going on at the same time featuring the likes of Lionel Messi.  Women's football is something of an anachronism. If you have watched a women's game, it is played at roughly half the pace of ...

The end of the world is near. On Aug 2 to be precise. Repent and thou shall be saved. Every year, some nutter prophecies the end of the world on some artificial date and his followers prepare for Armageddon. Come the day and nothing happens. We live on till the next prophecy. Is this what is going to happen on August 2nd, the latest doomsday deadline ? Somewhere on August 1st or so, America will reach its legally approved debt ceiling of $ 14.3 trillion. Ninety times in the past, this ceiling has been raised by the US Congress and the Senate and life goes on. This time however, there is a real possibility that it may not be raised. Hence the doomsday. Do I see you yawning ? Surely some technicality of American debt ceiling cannot affect you and me. Who cares ? Unfortunately you should. You should care very much, wherever in the world you are. It won't be the end of the world, but you will have a vision of what the end of the world might look like. For this is what will happen if th...

This week The Business sheds a Sean and gains a Scott. With Kean off doing an honest fifteen minute's work for an honest fifteen minute's pay, The Business welcomes Scott Capurro to it's stage! San Francisco favorite Scott Capurro has appeared on television, movies and stages worldwide, and occasionally performs encores in the nightmares of audience members long after the show. His act is not for the timid or frankly the stu pid, and we are lucky and excited to have him on the show. This quote sums up nicely: “Yet accept the ferocious, corrosive material in the provocative spirit it’s intended, and it is brilliantly, shockingly funny. So far beyond the pale that the only reaction IS to laugh, partly out of discomfort, partly out of the sheer audacity of it all.” - Chortle Bucky, Chris and Alex will also be around, but don't expect any hand holding. Your a big audience and you can take it. Remember: don't let the grey days of Summer get you down. Let...

The first powered human flight took place in 1903 when the Wright Brothers took their flyer to the sky and flew 120 feet in 12 seconds. In just 58 years after that momentous event, mankind took to space - Yuri Gagarin made that historic spaceflight in 1961. Just eight years later man was on the moon. (just a pause to note that virtually every reader of this blog was not born when Armstrong placed that first footstep on the moon). In 1971 and 1972, Pioneer 10 and 11 probes were launched which flew by Jupiter and Saturn . They are still flying somewhere, but we have lost contact with them.  In 1977, the greatest mission of all - Voyager was launched. Past Jupiter, Saturn , Uranus and Neptune and now past the solar system itself, into interstellar space. 34 years after it was launched, it is still in contact and is mankind's first feeble attempt to reach out to the stars. After 1977 ?? Nothing. The space shuttle program, which is the only noteworthy achievement since then, was all fo...

These days, in India, the flavour of the month is black money.  The ire seems to be directed (thanks to a popular yoga practioner's antics) against black money stashed abroad. Apparently in Switzerland and Lichtenstein. This yoga practioner claimed that if all the black money stashed abroad were to be brought back, it would signal the end of poverty. The Supreme Court, in another case of judicial overreach, is directing the action on naming and shaming those who hold accounts in the aforesaid countries. A pause to consider what is black money is in order. Black money is that income on which taxes have not been paid. If this is what black money is, in India, it is right under our noses. Forget about Lichtenstein. It is in every house. The largest generator, washer and lubricator of black money in India is the property market. When I buy or sell a house, or land, I suffer two incidences of taxation. One is the usurious rate of stamp duty. The second is the perfectly reasonable rate o...

The decision to close the News of the World in the UK because of the fallout from the phone hacking scandal shows the importance of ethical behavior and public credibility for media firms. The paper had been hacking the private communications of celebrities, politicians, crime victims, and even relatives of soldiers killed in Afghanistan and then spent four years trying to cover it up by paying hush money and—according to some reports—bribing police officers to ignore its crimes. The paper, owned by Rupert Murdoch’s News Corp., was Britain’s largest selling Sunday newspaper until it spectacularly unraveled in recent weeks. Continuing revelations of illicit activities and the announcement of Parliamentary and police investigations led advertisers including Ford, Sainsbury, Lloyds Banking Group, Virgin Media, Dixons, and Vauxhall to pull their advertising. Perhaps it was embarrassment—but it was more likely the loss of revenue, the loss of almost $3 billion in market value for ...

This Wednesday The Business returns to it's roots with a lineup of the four original Businessmen: clean, simple and bold. It's our four faces on the logo damnit, and you should come to The Dark Room and see why we deserve to be on there. The Business has had many great guests, but sometimes, it's best to go back to the core four. After all, would the Beatles have hit it big with Stu Sutcliffe playing bass? Would there have been a "Fast Five" if producers hadn't brought back Paul Walker for the 4th movie? Would we have won independence had we signed the Declaration of Independence on July 5th? Hell no! Tonight at 8, 4 is the magic number. As always, burritos are encouraged.

Vanity thy name is Chinese Internet Company, went the title of an earlier post of mine here . I should correct this now to Vanity thy name is Chinese Internet Company. How else can you explain the rush of Chinese non Internet companies who want to list in the US ? There are 900 companies with businesses mainly, or only, in China listed in the US. Compared to that there are only some 2000 odd companies listed on the Chinese mainland. Does this make any sense ? Why are Chinese companies falling over each other to list in the US ? Usual reasons - Greed and Vanity. Greed first. Anything beginning with the letter C is now hot in the US. Never mind that the investor does not know, or care, whether China is to the East or West of Topeka KS. Anything even remotely related to China must be leading to a pot of gold. Hence the stampede towards China stocks. A scene reminiscent of the wildebeest crossing the Mara river. The expert analysts, investors, fund managers all seem to possess exactly the...

BIG UPDATE: Special Guests joining The Business this Friday are: Kumail Nanjiani Knuckles & Tits and Tony Sam! Just Added: Ryan Singer! Summer is here, America is born (again) and The Business returns to LA, but this month we’ve got some brand new digs, you dig? Last month we said goodbye to The Improv Lab (and mucho thanks!). This month we say hello to the new home of The Business: Meltdown Comics! This unique venue is already home to some of the best comedy shows currently in Los Angeles, and we’re proud to be partnering with @NerdMelt to bring the Business to the roster. We wanna kick off our first show with a bang, so stop the world and melt with Chris, Bucky, Alex (Sean is MIA, FYI) and some very special guests nerds! As always we will be raffling off a new, medically-transported Mission Burrito for all you hungry Biz fans. God Bless Nerdmerica! TICKETS: http://www.meltcomics.com/webstore/index.php?main_page=product_info&cPath=6&products_id=89&zenid=789b08ced9...

The decision by News Corp. to dump MySpace once again reveals the risks of over exuberance toward digital companies that do not have a proven business model or long-term customer loyalty. There are plenty of digital investments that meet those requirements, but a number of the most hyped firms moving toward IPOs and acquisitions do not. They need to be considered with hard headed pragmatism. MySpace was launched 2003 and rapidly became the toast of the digital world as a social networking site and “the place” for musical stars and fans to connect. By 2005 it was the fifth most visited site on the Internet. New Corp., which was anxious to benefit from growth in digital media, jumped at the opportunity to acquire the service and paid $580 million in 2005. It was an enormous price for a company with an unclear revenue potential. Within two years MySpace had grown to be the world’s number one social networking site and was receiving 100 million unique monthly visitors. But it still had rev...

Consider the following employee employer relationship. The post is set in an Indian context, but it could be true of virtually any developing country. There is no written contract of employment. The worker is paid below that statutory minimum wage. There is no Provident Fund or Employee State Insurance, both of which are statutorily mandated in India. There is no paid leave. Most often, there is no weekly off. Child labour is acceptable. Physical abuse is not unknown. Sexual abuse is ,alas, not rare. Verbal abuse is often. There is no training for the job. There are no rest breaks. The job is monotonous, repetitive, and physically taxing. There is hardly a word of praise or feedback. Biting criticism from the employer is a daily affair. The workers absent themselves at the drop of a hat. Attrition is enormous; the worker often just absconds or runs away. Coming on time is an alien concept. The worker tries her best to finish faster and with as less effort as possible - quality be damne...