mtT2A2vB0yeyh1P96ET6MwCVJjc GREATER HYDERABAD BLOG: Interesting Articles

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Showing posts with label Interesting Articles. Show all posts

21 March 2009

No delimitation to confusion

No delimitation to confusion


20 Mar 2009, 0343 hrs IST, TNN

HYDERABAD: A year after delimitation of constituencies and a month before the polls, there is still confusion among voters over their assembly constituencies in the city.

Citizens are doing rounds of Greater Hyderabad Municipal Corporation (GHMC) offices to know their assembly segments and polling stations but are returning confused.

Before delimitation, the city had 13 assembly segments. After the constituencies were recast, Himayatnagar, Asifnagar and Maharajgunj vanished from the poll map , but the number of constituencies increased to 15 with addition of Amberpet, Jubilee Hills, Nampally, Goshamahal and Bahadurpura.

Though four new assembly constituencies were carved out from existing ones, boundaries of all segments were affected in the delimitation exercise, resulting in confusion among voters.

New constituencies like L B Nagar, Uppal, Kukatpally, Serilingampally, Rajendranagar, Malkajgiri, Chevella and Patancheru, which are now in GHMC limits but in Ranga Reddy district, have come into existence.

While the Musheerabad assembly segment had cosmetic changes, all other constituencies were badly affected in the delimitation process. Jubilee Hills and Kukatpally were carved out from Khairatabad, the biggest assembly segment with over 7.5 lakh voters.

Voters of the newly-created Jubilee Hills segment and Khairatabad constituency are the worst affected. Though the name of the constituency is Jubilee Hills, 90 per cent of its jurisdiction is under the Khairatabad assembly segment.

House numbers which begin with 8-1, 8-3 and 8-4 have been allocated to the Jubilee Hills segment, while the rest of Jubilee Hills areas and Srinagar colony continue to be in Khairatabad segment. Some areas in Asifnagar segment were also brought under the Khairatabad segment after delimitation.

Similarly, Monda market, Regimental Bazar and parts of Marredpally, which were in the Sanatnagar assembly segment, have now been shifted to the Secunderabad Cantonment segment. Manikeshwarnagar and Ravindranagar of Seetaphalmandi area were earlier in Musheerabad segment before the delimitation process. But now, they are in the Secunderabad segment.

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ICICI duped of Rs 30 lakh

HYDERABAD

The Commis-sioner’s Task Force team on Friday arrested three persons accused of allegedly cheating the ICICI Bank to the tune of Rs 30 lakh.

The police seized two motorcycles, a refrigerator, an air conditioner, a television set, an air cooler, a laptop, a car, eight cellphones, SIM cards and forged documents from their possession.

Kanchumarthi Kalyan Chakravarthy, 29, is the prime accused in the case.

Naseerullah Khan and Pathuri Yugandhar were his accomplices. All are natives of West Godavari district Kalyan Chakravarthy’s younger brother used to work with the ICICI Bank.

He would introduce his elder brother as a business development executive and would assist him in opening accounts with the bank.

While opening accounts for wealthy customers, Kalyan retained a photocopy of application forms containing personal details.

Then he would forge the signatures of account holders. He was able to withdraw Rs 30 lakh. He did not even let his brother know of his unscrupulous activities.

Kalyan has been arrested a number of times in the past but managed to get a bail and restart his operations.

He is also suspected to have withdrawn Rs 48 lakh from the account of a customer, Mr Nimmala Anjaiah, from the Jubilee Hills Branch of ICICI Bank and Rs 16 lakh from the account of Mr Unnam Sambaiah from the Nacharam branch of ICICI Bank.

The arrested persons have been handed over to the Jubilee Hills SHO.

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Chiranjeevi moves SC for common symbol

N. VAMSI SRINIVAS and J.R. PRASAD
DC I HYDERABAD

“Chiranjeevi cannot issue B-form of any other party while continuing as presi- dent of Praja Rajyam.”
The crisis caused by the Praja Rajyam not getting a symbol is so intense that its founder president Chiranjeevi will have to resign and join the party whose symbol it wants to use for all its candidates.

The Praja Rajyam is a “registered party,” but is not yet “recognised” for which it has to win a certain percentage of votes. This, the Praja Rajyam, formed last year, has not done. It is therefore not eligible for a common symbol, all its candidates run the risk of getting different symbols which is a nightmare scenario for any party.

Authorities familiar with the election process suggest that the safe option for PR at the eleventh hour — nominations for the first phase of polls in the state open on March 23 — is to join the party having a common symbol in any other state, set up its state unit and field PR candidates.

In such an event, it will be essential for Chiranjeevi to take over as state party president, if not the entire party, and issue B forms for his candidates to have control over the candidates in the post poll scenario.

“Chiranjeevi cannot issue B-form of any other party while continuing as president of PR, which is only a registered party and notrecognised,” EC sources said.

As a last effort, the party on Thursday approached the Supreme Court seeking a direction to the EC to allot a common symbol for the party. Sources said the PR contended that the matter would come in the purview of the apex court as the decision on the symbol should be taken by the EC.

Inquiries revealed that majority opinion was mobilising in favour of a safe and immediate solution to overcome the crisis irrespective of the criticism the party would be subjected to.

“All that matters finally is getting a common symbol without which it will be a disaster,” a party leader said.

A section of think tank was believed to have suggested that all the PR candidates should file nominations as independent candidates and claim first preference for a symbol in all the constituencies. “As per rules the candidates of a registered party, who file nominations as independents, will have preference over independents,” a close confidant of Chiranjeevi said.

“There is high risk involved in the process because any other registered party can claim the same symbol. In such an event, the allotment will be decided by the returning officers through draw of lots,” EC sources said.

Party sources said Goa’s Maharashtrawadi Gomantak Party with the lion symbol and the United Goan Democratic Party with the two-leaves symbol were under consideration along with the Sikkim Democratic Front of the Sikkim Chief Minister, Mr Pawan Chamling, with umbrella sign.

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Inflation at record low, fears of deflation rise

DC CORRESPONDENTS
NEW DELHI/MUMBAI



COMMODITIES TURN CHEAPER BUT FOOD PRICES ARE STILL ZOOMING

Inflation touc-hed a 30-year historic low of 0.44 per cent for the first week of March, triggering the possibility that it could turn negative in the coming days though the government allayed fears of the country sliding into a deflationary phase.

The huge fall in the rate of inflation — it was 2.44 per cent last week — is being attributed to high inflation at the same time last year (7.78 per cent). The 0.44 figure represents a slower pace of price rise against the same period last year.

The fall in inflation was also attributed to lower prices of primary articles like fuel, commodities.

Food prices, however, continue to be high.

The Bank of Baroda chief economist, Ms Rupa Rege Nitsure, said the base effect will become stronger from here on and inflation will touch zero by March-end.

This could be India’s first deflation since March 1976.

The Crisil principal economist, Mr D.K. Joshi, said inflation will turn negative in the coming days and will remain in that region for two to three months.

“Inflation will again bounce back by the end of 2009,” said Mr Joshi.

When inflation is falling because prices are falling, it can be technically called deflation.

But it is more important, said Mr Siddhartha Sanyal, an economist at Edelweiss Capital Ltd, “to differentiate between structural and statistical deflation.” A structural deflation would mean no demand and no growth, he said.

However, India is growing, even if it may be only six or 6.5 per cent. “So it is more a statistical deflation,” Mr Sanyal said.

“If you take a two-year horizon there would be a price growth of three to four per cent,” he said.


Courtesy: Deccan Chronicle

08 February 2009

6 companies born during downturns

Think a recession is a bad time to start a company? Imagine if the founders of these major corporations had thought the same...


6. Speeding around oil prices



Company: FedEx
Industry: Shipping
Founded during: The Oil Crisis of 1973

Picture:
CEO Frederick Smith boards Federal Express Corp.'s first Falcon fanjet.


Entrepreneur Frederick W. Smith identified a pressing business need: important documents had to reach their destinations within one or two days. He incorporated a company called Federal Express in June 1971 and began operations in 1973 from Memphis International Airport. On its first night, in April, FedEx shipped 186 packages to 25 U.S. cities.
But all was not well on the international front, and within months, several Arab states had embargoed oil exports to the United States. While this news could have been disastrous for a company that relied on petroleum-fueled transportation, Federal Express stayed alive and became profitable in July 1975, when oil prices finally leveled off.


Status today: 2008 seemed at first to be a deja-vu replay of the company's nascent years, as soaring fuel prices hurt operating costs. But when prices retreated, FedEx faced a new whammy: The weakening economy has reduced demand for prompt shipping. Average package volume for daily ground shipping dropped 2% year-over-year for the quarter ended Nov. 30. Warning that FedEx faces "some of the worst economic conditions in the company's 35-year operating history," CEO Frederick Smith took a 20% pay cut for 2009 as part of a sweeping cost-cutting plan.


Courtesy: cnnmoney.com

6 companies born during downturns

Think a recession is a bad time to start a company? Imagine if the founders of these major corporations had thought the same...


5. Taking flight in the great depression

Company: United Technologies Corp

Industry: Aerospace
Founded during: In 1929, amid the Great Depression

Picture: With seating for 18 passengers, this fabric-covered transport of 1929 was an enlarged version of the Model 80 - the first true Boeing passenger airliner - of the year before.


The notorious year that the stock market crashed, spurring a 10-year global downturn, also marked the birth of an aerospace giant. United Aircraft and Transport Corporation began life as a holding company for airlines, airplane parts manufacturers and aviation companies such as Boeing.


Most industries floundered under the financial crisis, but the Golden Age of Aviation was in full swing and kept United Aircraft aloft. In fact, the company pulled so many other businesses under its umbrella during its initial years that it quickly smacked up against antitrust laws. In 1934, Boeing and United Airlines became separate companies and United Aircraft turned into what is now UTC, a diversified industrial manufacturer.


Status today: UTC reported $58.7 billion in revenue in 2008. Thanks to increased revenue at UTC's aerospace companies, profits were up in the last quarter of 2008. But orders were slow for products such as elevators and air conditioners, which is a big deal for the company that owns Otis Elevator and Carrier Corp. In the past year, UTC has laid off thousands of workers, and the company plans continue slashing in the early months of 2009 as it undergoes major restructuring.



Courtesy: cnnmoney.com

6 companies born during downturns

Think a recession is a bad time to start a company? Imagine if the founders of these major corporations had thought the same...


4. Smooth riding through a panic


Company: General Motors
Industry: Automobiles

Founded during: The Panic of 1907
Picture: The first Buick of 1903.


Back in the days of President Theodore Roosevelt, before a central bank had been established, lending institutions were dependent on their own currency resources. This became a problem in 1907 when numerous large banks made a bid for controlling shares of United Copper Company. When the attempt failed, the public pulled their money from the banks, causing runs that led to the failure of many trusts and lending institutions. These events didn't deter William Durant, a leading manufacturer of horse-drawn vehicles, from trying his luck on a new technology called the automobile. He founded GM on Sept. 16, 1908 in Flint, Mich. That year, it became a holding company for Buick and Oldsmobile, which had been established several years. Historians consider the Panic of 1907, also known as the Banker's Panic, to have ended in June 1908, even though the market didn't reach pre-1907 levels until 1909. That was perfectly timed for GM, which went on to acquire many more companies in that rebound year.

Status today: Hit with a double whammy in 2008 from sky-high fuel prices and a terrible market, GM has seen its stock price fall 85% in a year. Its competitors aren't faring much better - in December, GM went to Washington with Chrysler and Ford to seek $34 billion in government loans. The company is currently under scrutiny: Iit must prove it can cut costs enough to be a viable recipient of the billions it needs to stave off bankruptcy.


Courtesy: cnnmoney.com

6 companies born during downturns

Think a recession is a bad time to start a company? Imagine if the founders of these major corporations had thought the same...

3. A bright idea in a financial crisis



Company: General Electric

Industry: Energy and other
Founded during: Panic of 1873
Picture: A woman demonstrates a General Electric Toaster, ca. 1920.



Kicking off the Long Depression was the Panic of 1873, which began when major investment firm Jay Cooke & Co. collapsed, causing the NYSE to shut down for days. The ensuing financial crisis lasted six years. Sound like an ideal time to open a laboratory? That's what Thomas Edison thought as he set up a facility in Menlo Park, N.J., in 1876. There, he produced the first light bulb in 1879 - the same year the panic officially ended. Although economic conditions would remain poor until 1896, Edison had gained enough momentum to start a company he called Edison General Electric Company. In 1896, Edison's GE landed a spot on the first-ever Dow Jones Industrial Average. Today, it is the only remaining company of the original twelve.

Status today: GE posted $183 billion in revenues in 2008, but its earnings were down 19%. Profits from GE's consumer and industrial segment dropped 65% during the year, and GE Capital's profits fell almost 30%. While GE's energy sector saw a modes
t growth in profits, the company is bracing for a rough 2009.


Courtesy: cnnmoney.com

6 companies born during downturns

Think a recession is a bad time to start a company? Imagine if the founders of these major corporations had thought the same...



2. Outliving a long depression


Company: IBM Industry:
Industry: Computer

Founded during: The Long Depression, 1873-1896

Picture: A tabulator from 1890


Aptly named, this era comprised a series of unfortunate events. The Vienna Stock Exchange fell. The Coinage Act of 1873 demonetized silver, pushing investors away from making long-term loans. U.S. banks collapsed twice, causing the Panic of 1873 and the Panic of 1893. But three startups - the Tabulating Machine Company, the International Time Recording Company and the Computing Scale Corporation - developed technologies during this 23-year period that were in demand despite the sour economy. A time clock for recording workers' hours, for example, was needed as industrial production at the end of the century surged. Also, a tabulating machine was vital during the immigration wave, to tally up the expanding population. These three companies merged in 1911 as the Computing-Tabulating-Recording Company, which changed its name to IBM several years later.


Status today: If it's true that what doesn't kill you makes you stronger, IBM came into this recession well-fortified: Big Blue is a veteran of near-death experiences.


IBM's wild success in the 1960s led to antitrust action by the U.S. Department of Justice. The fallout from U.S. v. IBM took its toll over the next decade and radically reshaped IBM's business operations. IBM eyed oblivion again in the early 1990s, as its traditional hardware and mainframe computing business dried up. Under Lou Gerstner's leadership, IBM overhauled its business model, shifting the emphasis from products to services. Although consumers are spending less on technology in the current economy, IBM recently posted a strong quarter, which it attributed to an increased demand for its outsourcing services. Last year, the company had record revenue of $103.6 billion. However, thousands of layoffs are reportedly underway in IBM's sales and software units.

Courtesy: cnnmoney.com

06 February 2009

6 companies born during downturns

Think a recession is a bad time to start a company? Imagine if the founders of these major corporations had thought the same...



1. Rising above inflation



Company: Procter & Gamble
Industry: Household products
Founded during: The Panic of 1837
Picture: A P&G distributor makes his rounds in the 1870s.

Candle maker William Procter and soap maker James Gamble joined forces to start a small household-goods business in Cincinnati. It was a risky move for the brothers-in-law: The shaky economy had a full six years of financial crisis ahead. Massive migration to the West caused land prices to rise, and inflation soon followed. Under President Martin Van Buren, bank failures and concerns about the paper economy spurred the greatest economic decline since the birth of the country. But P&G survived and went on to score lucrative contracts to supply necessities to the Union Army during the Civil War.


Status today: With $83.5 billion in revenue in 2008, Procter & Gamble has built a portfolio of some of the most recognizable brands in the U.S., including Tide, Pampers, Oral-B, Iams, Pantene, Duracell and Pringles. The company's shares took a hit this past year, but it has held steady against smaller competitors such as Johnson & Johnson and Colgate-Palmolive, and its earnings remain strong: P&G had net earnings last year of $12.1 billion.


Because consumers rely on P&G products in good times and bad, it is considered a titan even in a rough economy.


Courtesy:cnnmoney.com