Rajesh Khanna dumped Dimple Kapadia in Property Will!

Legendary actor of Indian cinema late Rajesh Khanna had reportedly dumped his (the then) estranged wife Dimple Kapadia from his huge property amounting to around One thousand crore rupees. He had executed a ‘Will draft’ to clarify his wish about the disbursement of his property before his demise. 

Khanna has left behind huge property worth Rs 1,000 crores including liquidity investments and his bank accounts but has left nothing from his property for his ex-wife Dimple Kapadia. 

He had reportedly drafted a final will a few days before his death where he mentioned that all his properties should be given to his two daughters Twinkle Khanna Kumar and Rinke Khanna Saharan. Further, the drafted Will was also read out in the presence of Rajesh Khanna himself, his daughters, ex-wife Dimple Kapadia, son-in-law Akshay Kumar, close friends and family doctor Dileep Walvekar.  

Khanna had also signed the draft with his trembling hands and even put his thumb impression to avoid any legal complicacy and challenge in future. The entire process was shot on camera too. Dimple Kapadia and Rajesh Khanna were living separately since 1988 although they were not legally divorced and only during the actor’s last (ailing) time she was with him.

PVR to pay Compensation for change of Movie

PVR Ltd, which is one of the largest cinema chains in India, has to pay Rs 10,000 to a woman as compensation for changing a movie, which she had booked the ticket for.  

The East District Consumer Disputes Redressal Forum in its ruling said that the last-minute change of the movie had disappointed the woman and her son. They had booked the ticket for the movie 'Bas Ek Pal', which was to be screened at PVR Spice in Noida at 6 pm, but they found another film was being shown at that time.

The woman along with her son had come to Noida PVR from Sunder Nagar, Delhi to watch the film on September 17, 2006 evening on the basis of show timings in newspapers. But as per the complaint, the movie was not playing at the scheduled time. It was another film. She was disappointed and filed a complaint  The bench said that the woman incurred expenses on transport apart from the valuable time of two persons due to the last minute change of the movie. Her son was about to leave for the UK the next day. But when she reached the cinema theatre, found another movie was playing. The PVR needs to pay for that. 

However, PVR said that the woman was not a consumer as per the Consumer Protection Act. The bench rejected the PVR reply saying the woman had booked the ticket after making payment at the respondent's office. On the ticket, it was mentioned that the film will be screened at 6 pm. Therefore, the woman is a consumer as defined under the consumer protection act. She will be paid compensation by the PVR for the unnecessary expenses and waste of time.

Major Power Failure grips North India, including Delhi

The power crisis in India seems to be a common issue these days. At least seven states in north India are facing power cut since Sunday night. Even the Metro train services in the national capital were disrupted. The states like Delhi, Punjab, Haryana, Uttar Pradesh, Himachal Pradesh, Rajasthan and Jammu and Kashmir were affected following the breakdown in northern grid on Sunday night. Since Delhi is the national capital, the emergency power service is being provided to VVIP areas. There was no power in Delhi and neighbouring states since 2 am. The Power System Operating Co (PSOC) confirmed that there are problems with the Northern Grid and they are trying to restore it. However, they did not cite the exact problem for the grid failure, but the heavy demand for power in last few days and deficient rainfall might be the reasons for the power failure in 7 states. 

Following outrage of people, power has been restored in parts of Delhi, Punjab, Himachal Pradesh and Lucknow. Thirty to forty per cent power was restored in Jammu and Kashmir. Power supply was being given in rotation in the Kashmir valley. The commuters faced problem on Monday morning after the Metro train service in Delhi was hit. Only 25 per cent of the Metro train services have been resumed. The DMRC was getting hydel power from Bhutan through the grid on a priority basis. The power failure also hit the railway services in northern India. Forty trains were running late. However, the services have resumed and the railway is getting power from three power stations. Water services were also affected across Delhi. The water supply was slow across the city in the morning.

Apple launches new Operating System for Mac

Apple Inc. launched the new operating system (OS), Mac OS X 10.8 Mountain Lion for its Mac (Macintosh) computers on Wednesday. Mountain Lion costs USD 19.99 and is now available online. One can download the software. However, People who bought Mac computers on or after June 11 can upgrade it for free.

The new mountain Lion contains a notification panel similar to that found on many Smartphones and is social-media-friendly that makes it easier to share stories, videos and pictures online. Even Users can upload files via the iCloud online storage system using the new software. The new software more or less narrows the gap between the PC and phone software packages, making Mac personal computers work more like iPhones and iPads.

In short, OS X Mountain Lion comes with a number of new features and enhancements to the Mac, including improved iCloud integration with support for Notes and Reminders, iMessage support via the new Messages application, Notification Center, Power Nap updating during sleep, Dictation, enhanced sharing tools, Game Center, improved security with Gatekeeper and more.

Revolutionary Idea !

The field of Human Services is broadly defined, uniquely approaching the objective of meeting human needs through an interdisciplinary knowledge base, focusing on prevention as well as remediation of problems, and maintaining a commitment to improving the overall quality of life of service populations. The Human Services profession is one which promotes improved service delivery systems by addressing not only the quality of direct services, but also by seeking to improve accessibility, accountability, and coordination among professionals and agencies in service delivery.

It’s interesting that while we’re working we dream of having time off, but when we are retired we miss the work!

Entrepreneurship is about enjoying the journey. If you do that, the result will take care of itself. Taking risk is more important than worrying about managing the risk as you cannot create value and wealth without risking something. Patience is a virtue in the current world of impatient exuberance – anyone could be rich but to create value you need to be dedicated and spend time and effort. Wealth creation and value creation are not always synonymous – I hope today’s entrepreneurs learn to understand the difference.

Sometimes I wonder why such people like Dr. Shital Badshah doing a cause or social service for people. Then I realise that there are so many opportunities and so many things that can be done! All you need is little bit of creativity and it helps to have a team. Maybe get a couple of years of experience. Like Dr. Badshah, if you have an idea, you just have to do it – that’s what he did. There was no personal gain, no agenda but I think that is the way it works. He just jumped into this 2^nd inning and he made his life for the society well being.

I am associating with Dr. Badshah since 2007 when he was a regular soft skill faculty at Kalpataru Power Transmission Limited. Dr. Shital Badshah is a founder of CELL. Centre for Experiential Leadership Learning is a private limited company, established on Feb 16, 2012 to provide learning solutions for leadership development in Ahmedabad.

You can reach to Dr. Badshah via e-mail on mail@leaderscell.com

E-mail Source:

Respected Sir or Ma'm,

There are many elderly persons, who get retired due to age factor. There are few others, who have to change their financial source of income, due to many reasons. And, then it becomes difficult for them at that age.

2nd Innings is an effort to help these elderly people to regain their self-confidence, dignity and activeness, by providing them earning opportunity. 

We invite companies, government and non-government agencies, and working professionals to come forward for this cause. If you require a sincere, honest, and efficient person, and you think that the job can be done by elderly person, then please inform us. We shall help you get in touch with them.

If you know any elderly person who is looking for financial freedom by being active, please inform us. We shall help him or her to get in touch with these companies.

We do not charge anything either from the company or from the elderly person.

This is just an initiative to make elderly people live better by generating financial freedom.

Please visit http://oursecondinnings.blogspot.in/ and be member of the group.

Thanking you,

Dr. Shital Badshah
94284 19021
sbb01@ganpatuniversity.ac.in

How Kellogg began their Journey ?

Kellogg's was started by a man named Will Keith Kellogg, who had studied up to sixth grade, and his brother Dr John Harvey Kellogg. they were Seventh Day Adventists, managing a sanatorium in the US and looking to provide a vegetarian diet for the inmates. By accident, in trying to save some boiled wheat one day, they put it under a roller, expecting dough. Instead, they got flakes. When they roasted the flakes and fed them to their patients, they simply loved it!

Encouraged, the brothers experimented with corn and that is how cornflakes were first created. They applied for a patent on 31 May 1895 and so the journey began.

Early Potty Training may harm Your Kids

Early potty training before the age of three may harm your kids considerably – suggests a pediatric urologist. It may sound odd to the parents, but they should follow their doctors' suggestion. Dr Steve Hodges, a professor at Wake Forest University in North Carolina, in his book ‘It's No Accident’ described that training the kids too early for potty can lead to more toilet accidents because the bladder may not be strong enough then to properly resist the event. 

Hence, Parents who pressure their children to potty train before the age of three may be hurting them as it can also lead to constipation, kidney damage and even urinary tract infections because the toddlers are hold in their bowel movements longer than they should – the researcher suggests.

Dr Hodges has written the book, “It's No Accident” to make clear the myths that parents should strive to get their children out of diapers and onto toilets at earlier and earlier ages.

Dr. Steve prescribes that babies need to experience 'uninhibited voiding', or elimination, in a way they can respond to their bodies urges in a judicious manner. So, once they fully figure that out, then only parents should bring them to the bathrooms as early potty training may lead to devastating problems in the future.

Pranab thanks People for electing him as President

The newly elected President of India Pranab Mukherjee thanked the people for their overwhelming support and affection to give him the highest office. He defeated his rival PA Sangma with 69.31 per cent votes.

Soon after he was declared the new President, Pranab said that it is his duty to defend and the Constitution of India.

"I have deep gratitude and appreciation for the people of this great country for conferring this distinction of electing me to the high office," Pranab told reporters in the national capital. 

"It would now be my responsibility to defend and protect the Constitution as President ... I would try to justify in modest way to be trustworthy of my people," he said. 

A total of 713,937 votes were in favour of Pranab out of the total 10,29,924 votes, while his opponent Sangma had 315,987 votes or 30.69 per cent of the total votes.

He said that during his campaign for the presidential election he visited all the state capitals. He could feel the overwhelming support and affection of ordinary people, which made his tour remarkable. 

He also thanked all sections of society, the political parties and parliamentarians for the support during his more than four decades of public life. "I have received much more from the country, its political establishment and Parliament than what I have given", he said.

Meanwhile, his opponent Sangma, who was defeated in the poll, congratulated him for his victory. However, he did not rule out moving court on the election, saying its process was "exceptionally partisan". He alleged that non-UPA ruled states were lured with packages and inducements and even given threats.

He said there is a compelling need for formulating an election code of conduct for the Presidential and Vice Presidential polls, as such a code did not exist. A code will ensure free and fair elections, he said.’

"The process in this Presidential election has been exceptionally partisan and political. The public perception is certainly that in identification and projection of its candidate, UPA did not genuinely build consensus and that it pursuaded political parties commanding major sections of the Presidential electoral college by economic and other packages...as well as inducements, threats and promises," Sangma told reporters.’

He alleged that the spirit of secrecy of ballot was "thrown to the wind".

Sangma, who was backed by BJP, AIADMK and BJD, trailed far behind with 3,15,987 vote value in the polling, which witnessed cross-voting against him by BJP MLAs in Karnataka in favour of Pranab.

Apple's New iPad makes Quiet Debut in China

Apple’s new iPad made a quiet debut in China on Friday. The launch took place after three weeks following settling a lawsuit over ownership of its name and requiring buyers to place orders in advance to control crowds. There were no long lines waiting to grab the new product at the Apple store in Sanghai. Orderly crowds outside Apple Stores in Shanghai and Beijing surprised Apple observers in China, who are used to lines of fans waiting overnight in long, snaking lines. But this time Press Reporters had outnumbered the customers. Apple implemented an online reservation system to avoid the riotous crowds in China after facing a riotous situation in last January. The Apple store in Pudong New Area, China opened at 8 A.M. in the morning when Apple started sales of the new iPad and till 9am only about 100 customers with reservation slips, which include set pick-up times, arrived at the store to buy their new iPads. China is Apple's second-largest market after the United States and the source of much of the Cupertino, California-based company's sales growth.

How to Go on a Fast News

Negative news sells. In our society, more people will choose to watch the criminal trial of a celebrity rather than the biography of truly great human being. 

A newspaper with headline revealing the latest tragedy will sell more copies than one announcing the latest scientific breakthrough. The real problem is that it is easy to get addicted to reading and watching negative news. I know so many people who begin days by reading less than uplifting newspaper stories and who end them by catching up on the latest crimes, accidents and scandals on the late night news.

I am not against newspapers or television by any stretch of the imagination. As a matter of fact, I find excellent information in many newspapers and have learned much from the intelligent TV programs I have watched over the years. My point is simply this: become more selective in the news you expose your mind to. Be more deliberate in the way you read your newspaper and in the way you watch television. Before you start reading the morning paper, have a purpose in mind. Use it as an information tool to serve you and to make you wiser than as an excuse to help you pass time.

One of the best ways to wean yourself from the 'news addiction' that so many of us suffer from is to go on a seven-day news fast. Vow not to read even one negative story in the newspaper or watch even one negative news report on television for the next week. you will notice two things. First, you will not really miss out on much information. You will still hear about the most important stories of the day from the conversations that circulate around your office and through your encounters at home. 

Second, you will feel much more peaceful and serene. As well, you will find that the seven day news fast offers yet another benefit: more time to do the things that will truly improve the quality of your life. 

Rewrite Your Life Story

One of the most wonderful things about time is the fact that you cannot waste it in advance. No matter how much time you have squandered in the past, the next hour that comes your way will be perfect, unspoiled and ready for you to make the very best of it. No matter what has happened to you in the past, your future is spotless.

Realize that every dawn brings with it the corresponding opportunity to begin a completely new life. If you so choose, tomorrow can be the day that you start getting up earlier, reading more, exercising, eating well and worrying less. As author Ashleigh Brilliant has observed, "At any moment I could start being more of the person I dream to be - but which moment should I choose?

No one is stopping you from opening your journal and, on a blank page, rewriting the story of your life. This very minute, you can decide the way you would like to it to unfold change the central characters and create a new ending. The only question is will you choose to do so?

Remember, it is never too late to become the person you have always wanted to be.

19.07.2012, 01:07 p.m.

HSBC Executive quits over Bank's Links to Money Laundering

Top compliance executive David Bagley of the international bank HSBC has resigned on Tuesday. The British bank is accused of giving terrorists and criminals access to the US financial system by failing to guard against money laundering. 

Bagley was among at least six HSBC executives who was present before the Senate’s Permanent Subcommittee on Investigations on Tuesday after the panel in a 335-page report described a decade of compliance failures by the international bank. 

Senate investigators alleged that the British bank had allowed the drug lords to launder money in Mexico, was associated with the firms linked to terrorism and concealed transactions that bypassed the US sanctions against Iran. 

“As I have thought about the structural transformation of the bank’s compliance function, I recommended to the group that now is the appropriate time for me and for the bank for someone new to serve as the head of group compliance,” David Bagley told the Senate panel in Washington.

Bagley apologised to the US lawmakers for failures at the bank. He was head of compliance for London-based HSBC Holdings since 2002.

Banned Book on Gandhiji still on Sale

It could be termed as unfortunate for people of India as they are unable to hold the dignity of Mahatma Gandhi - the father of nation. Once again, Gandhi became a part of discourse as a banned book on his homosexuality is still on sale. The book ‘Great Soul: Mahatma Gandhi and his struggle with India’ written by Pulitzer Prize winner Joseph Lelyveld had been banned in Gujarat after the state assembly had unanimously passed a resolution against it on March 30, 2011. The book says that Gandhi was in a homosexual relationship. The book highlighted the relationship between Mahatma Gandhi and his close friend Hermann Kallenbach. 

However, the book is available at bookstore ‘Landmark’ with 50% discount, which suggests that people of Indians are in no mood to respect Gandhi. Gujarat Chief Minister Narendra Modi could be questioned regarding the book sale as he is proud to be a Gujarati, but failed to save the greatest son of the state Gandhi during his rule. Modi had shown the pro-Gandhi attitude while banning the book saying the contents of the book were perverse in nature and it hurts the sentiments of Gandhi followers. The Opposition Congress had also backed Modi's decision. 

Just a year after the ban, the book is still on sale at the bookstores.

Marissa Mayer: The First Ever Pregnant CEO Of A Fortune 500 Tech Company?

Talk about a big news day. Marissa Mayer, who was just appointed to be the new CEO of Yahoo (her first day on the job is tomorrow), has announced that she is a pregnant and due to give birth to a boy in October 2012. She gave the news exclusively to Fortune, but word starting spreading like wildfire seconds after it went public.

We’re still doing some digging, but from the looks of this it could be a major first. Is there another time that a CEO of a publicly traded Fortune 500 technology company has been pregnant? Female CEOs at public tech companies are incredibly rare, but for them to be 30-something is even rarer. So from the start Mayer was standout, but it’s hard to think of a time when a CEO of a major listed tech company has gone on maternity leave. It could certainly be a trailblazing turn.

The 37-year-old Mayer has been married to entrepreneur and Founders’ Den managing partner Zack Bogue for several years now, so it makes sense for them to add to their family at this point.

Anyway, enough gossip about tech execs’ personal lives. This kind of coverage doesn’t happen with males, I know, but surely anyone would recognize that Mayer is breaking some new ground here. So, mazel tov to Bogue and Mayer. It’s exciting and inspiring to see people who are working incredibly hard in their professional lives while also having growth on the personal side, too.

Source: techcrunch

Why Yahoo Picked Marissa Mayer, According To A Source Close To The Board

We just talked to a source close to the Yahoo board.

Here's why the board picked Google VP Marissa Mayer to be the company's new CEO:

She is "product-focused" and "focused on the user-experience." She is "capable of taking the company back to its product and consumer-driven roots." This is a departure from interim Yahoo CEO Ross Levinsohn's plan to focus the company on the media business—a sort of cable company 2.0.

She is good at mentoring talent. She created a program at Google to train product managers on executive leadership. Many of them are now managers at places like Uber, Dropbox, and Polyvore.

The board believes she will be able to recruit very well and re-stock Yahoo with talent.

She's a big name—"a big surprise to people."

Cofounder David Filo, who still works at the company and is its largest shareholder, gave her his stamp of approval.

Microsoft-NBC News Partnership dissolved

MSNBC.com, the web news partnership venture of Microsoft and NBC has been dissolved. The MSNBC.com web site will now become NBCNews.com and readers who logged into MSNBC.com till Sunday will be automatically redirected to NBCNews.com. Microsoft will create its own website.

Also, NBC will reportedly move its headquarters from Microsoft's corporate campus in Redmond, Washington, to NBC News' longtime place in New York.

The breakup was announced on Sunday. They got separated after working together for a long 16 years.  The association began to chill out in 2005 when Microsoft sold its stake in MSNBC's cable TV channel to NBC.

Comcast Corp is the present owner of NBC News. Steve Capus, president of NBC News, “we will fully own our digital businesses.”

The reason of this separation can be like this - Many advertisers wanted to buy ads on both TV newscasts and web sites of the company. But, as Microsoft was taking care of the ad sales part of the business, NBC felt limited by the web joint venture hence getting no way out decided to end the partnership. MSNBC.com and its associated sites have 50 million monthly visitors as per reports.

Survey : Eating with Ex-Partner can lead to Jealousy

‘Meals can be more than just meals’. Eating with Ex-Partner can bring jealousy to the current one – suggested a new study. The article was published in the open access journal PLoS ONE on July 11.

The study offers that sharing a meal with a former romantic partner is more likely to make the current partner jealous as compared to any non-food-related activities.

In this connection the researchers wanted to know from the subjects about how jealous they would be if their romantic partner were engaged with an ex-partner in a meal, of course with food and drinks. The answer was merely positive. Most of them answered that the event will lead them to jealousy.

Kevin Kniffin of Cornell University along with his team of researchers went on to ask some undergraduate students to rate their jealousy if their current partners will be contracted by someone else for a lunch or dinner.

They found that a meal brought forth the highest jealousy ratings as compared to others, potentially pointing to the importance of meals for human relationships and intimacy. Also, the rating was almost same in case of both the genders.

Hence, finally the author of the study was of the opinion that – In our society it comes under both fashion and tradition to invite someone for a lunch or dinner. Normally the co-eating of the food stuff is prevalent among co-workers, family members, and friends. But interesting thing to be noted over there is that eating together has importance more than just nutritional factors.

Interestingly, on the verge of Stumbling upon creative ideas for business, a matchmaking service named ‘It’s Just Lunch” comes up with the same idea to attract its potential subscribers as it feels that lunch provides a non-threatening environment to meet an unfamiliar person who shares interest to develop a romantic relationship.

Centre clears Rs 45,000 Cr Package for Uttar Pradesh

Just a week before the Presidential Polls in India, the Centre has given an Rs 45,000 crore package to Uttar Pradesh, probably in support of Mulayam Singh Yadav's support to Pranab Mukherjee.

Uttar Pradesh had demanded Rs 93,000 crore. However, the centre agreed on Rs 45,000 crore, which is still a good amount to put the state on the path of growth and development.

The Samajwadi Party led by Mulayam Singh Yadav, has been a trusted ally of the Congress in the recent years and always bailed out the government whenever required.

Seven Kids die in Odisha, as Anganwadi Wall Collapses

At least seven children died when the Anganwadi Wall collapsed in Odisha's Ranpur town in Nayagarh district. The injured kids were admitted to SCB Medical College and Hospital in Cuttack and Sum Hospital in Bhubaneswar.

The children were having the mid-day meals in their classroom at around 10:45 AM yesterday when the incident occurred. The school was identified as Nelia Upper Primary School at Suansia Sahi in Ranpur.

All kids were in the age group of three to six. The walls of the makeshift Anganwadi centre were too weak to handle the monsoon pressure. It's really appalling that the centre was allowed to operate from a 60-year-old dilapidated building.

The incident triggered tension and resentment in the area. The locals had staged a protest and road blockade yesterday. The police had to resort to lathicharge to disperse the angry mob. Chief Minister Naveen Patnaik has announced an ex-gratia amount of Rs one lakh each to the families of the deceased and free medical treatment for the injured.

Malware Threat to Internet Tamed, Few Users lose Access

The Malware Monday is over now and the virus affected considerably few people, which are roughly 211,000 across the world. The hackers had planned to create a buzz by affecting millions of PCs on Monday.

Yesterday we had told you about the Malware Threat in an article where a lot of internet users were on the verge of losing their internet connection after at 12:01 a.m. on Monday, the FBI turned off Internet servers that were functioning as a temporary safety net to keep infected computers online for the past eight months.

However, a lot of users did also not believe this peril that they would lose access to the Internet just after midnight because of malware that took over computers around the world more than a year ago. But finally it was done and the servers were not renewed as per the Court order.

The outcome of the Malware peril was that as of Sunday night, there were around 41,800 users in the U.S. was out of surfing. As per the Internet World Statistics, an estimated 2.3 billion people around the world use the Internet, out of whom approximately 211,000 surfers have become the victim of the Malware.

So, is there any legal option for the victims to get damage? Probably no, because it’s known to nobody that who is responsible for the malware and so without a party to sue, whom, one will ask for damage. The government is also not liable as they actually took steps to help infected users by setting up the clean servers.

TIME rates Manmohan Singh as 'Underachiever'

Indian Prime Minister Manmohan Singh, who is very often lauded for his pivotal role in liberalising the Indian economy, has been termed an “underachiever” by a US magazine. 

The TIME magazine says that Dr Singh's unwillingness on reforms will put the country back and its economy will suffer again. He has been featured on the cover page of the magazine's Asia edition, which will be out next week, with a title that reads: "The Underachiever — India needs a reboot". 

A report in the magazine titled ‘A Man in Shadow’ asks, is India's PM Manmohan Singh ready to face the challenges of a slowdown in economic growth after the continuous fall in rupee? 

The UPA coalition government led by Dr Singh is involved in corruption scandals and accused of showing interest to bring economic reforms. The magazine says, "Investors at home and abroad are beginning to get cold feet. Voters too are losing confidence, as rising inflation and a litany of scandals chip away at the government’s credibility”.  

The magazine says that Dr Singh's confidence has been absent in the past three years. He seems unable to control his ministers. The leader, who is holding the temporary portfolio Finance, is unwilling to bring reforms when its domestic currency rupee is struggling to gain against US dollar. 

“Now that [Dr.] Singh is interim Finance Minister as well as PM, he has greater scope and a fresh opportunity to turn things around — but it’s by no means certain that he can,” Time says.

Book Review: The End of Cheap China: Economic and Cultural Trends That Will Disrupt the World

An expose on how the rise of China will affect the American way of life.

"The End of Cheap China" is a fun, riveting, must-read book not only for people doing business in China but for anyone interested in understanding the forces that are changing the world.

Many Americans know China for manufacturing cheap products, thanks largely to the country's vast supply of low-cost workers. But China is changing, and the glut of cheap labor that has made everyday low prices possible is drying up as the Chinese people seek not to make iPhones, but to buy them. Shaun Rein, Founder of the China Market Research Group, puts China's continuing transformation from producer to large-scale consumer - a process that is farther along than most economists think - under the microscope, examining eight megatrends that are catalyzing change in China and posing threats to Americans' consumption-driven way of life.

I suppose for those who are outside China, we often wonder: Is China really doing well?  The author examines the topic of real estate from various angles – the policy flaw in terms of favoring the commercial zone as it is easier to obtain construction loans compare to residential and Chinese’s preference to hold tangible asset rather than stocks.  The author also examines GDP in China and he argues that unlike Japan, China’s infrastructure spending is more efficient and it helps to jump start the economy growth in the cities.  On the education front, Shaun highlights the classroom overcrowding issue (imagine a class size of 1,500) as well as the fact that the Chinese education system is not producing enough creative thinkers.

The topic interests me most is on China’s foreign policy.  Because of the need for natural resources, China has been actively expanding the influence to countries like Africa and Pakistan.  Different cultures adopt different policies when investing overseas.  When Chinese companies financially takes over a foreign company, the existing management team is often left intact.  Yet, not all countries trust China’s non-interference approach.  Some countries do not welcome China’s money.  Some struggle to accept China’s financial help.  Now I know why as a Chinese, I bond well with Pakistanis here in Singapore.  They seem to have a good impression of Chinese people, thanks to China’s friendly investment in Pakistan.

Rein takes an engaging and informative approach to examining the extraordinary changes taking place across all levels of Chinese society, talking to everyone from Chinese billionaires and senior government officials to poor migrant workers and even prostitutes. He draws on personal stories and experiences from living in China since the 1990s as well as hard economic data. Each chapter focuses on a different aspect of China's transformation, from fast-improving Chinese companies to confident, optimistic Chinese women to the role of China's government, and at the end breaks down key lessons for readers to take away. "The End of Cheap China" shows:

- How rising labor and real estate costs are forcing manufacturers of cheap Chinese products to close, relocate, or move up the value stream

- How a restructuring economy moving away from exports to domestic consumption, and rising incomes will create opportunities for foreign brands to sell products in China rather than just producing there

- How Chinese consumption will build pressure on the global commodities markets, causing both inflation and friction with other nations

- How China's economic transformation spells the end of cheap consumption for Americans

China's days as a low cost production center are numbered. "The End of Cheap China" exposes the end of America's consumerist way of life and gives clear advice on how companies can succeed in the new world order.

End of Cheap China is a good read, for those who wish to learn more about China from the inside.  The journal writing style makes it easy to follow.  Because the content of this book is filled with the author’s criticisms and opinions, it could get a bit disoriented.  This book at times appears to be written for the Western businessmen who are investing in China.  In other chapters, the author seems to address to the US government, to the Chinese government, to other governments, or to the Chinese people in China, on what they should or should not do.  

Each target audience – I would presume – has different agenda and potentially conflicting interests.  It is unclear if Rein’s goal is to advocate a win-win situation.  Personally I would prefer a straightforward journalistic approach such as Nothing to Envy (a book on North Korea).  

Having said that, End of Cheap China is also a business book and it is packed with action items for those who are doing business in China.

Hardcover: 240 pages

Publisher: Wiley; 1 edition (March 27, 2012)

ISBN-10: 111817206X

ISBN-13: 978-1118172063

Also available on : Flipkart, Amazon, Crossword, Landmark, Junglee.com

Poor economics: Rethinking poverty and the ways to end it

Governments, charitable organisations, NGOs and International agencies are investing billions of dollars to alleviate poverty but much of the work is based on assumptions about the poor and the world that are untested generalizations. Anti-poverty efforts are littered with uplifting anecdotes and intellectually argued policies and recommendations for instant miracles  - but they rarely have much space for all average poor men or women, with their hopes and doubts, limitations and aspirations, beliefs and confusions.  All too often the economics of poverty gets mistaken for the economics of poor. And because the poor possesses very little, it is assumed that there is nothing interesting about their economic existence. 

In their recently published and widely acclaimed book, Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, MIT professors Abhijit V Banerjee and Esther Duflo have radically challenged this stereotype; and argued for avoiding many of these flawed clichés – to  really understand the lives of poor with all their complexity and richness. 

Poor Economics is a book about the very rich economics that emerges from understanding the economic lives of the poor. With the evidence emanating from the pioneering work in development economics at their award-winning Poverty Action Lab; and with their fifteen years of fieldwork in India and across the world, Banerjee and Duflo argue that by using randomized control trials, and more importantly, by paying careful attention to the evidences emanating from these trials, it is possible to sift nuggets of truth from the slurry of received wisdom and wishful thinking; and make accurate—and often startling assessments on what really impacts the poor and what doesn’t.

And these in turn help develop the kind of theories that help us make sense of both what the poor are able to achieve, and for what reason they need a push. 

Poverty is often linked in the public mind with dependency. But, as the authors point out, the poor bear more responsibility for their lives than the rich, who coast along, enjoying chlorinated water, drawing a regular salary, paid directly into a bank account, perhaps with contributions to their pension and health care automatically deducted. In contrast, the poor mostly do not have a regular income, and have to make careful economic choices with limited access to information, to survive on $0.99 or less. And it implies a very high level of resilience, willpower and survival skills in securing their family’s today and tomorrow.  On the other hand, tiny mistakes and seemingly minor barriers can be devastating in their lives.  

Drawing on the research at the Poverty Action Lab, Banerjee and Duflo have raised many pertinent questions in the book: what do governments do for the poor to improve their lives, and when do they fail them? How markets and institutions work for the poor? Are there ways for the poor to improve their lives, and what is preventing them from being able to do these things? The two economists therefore recommend an informed array of nudges and props that will make it as easy for poor people to make the right decisions, and accompanying huge differences in their lives. 

If it is a mistake to equate poverty and dependency, it is equally mistaken to believe the poor will lift themselves up by their bootstraps. The book crosses swords with the business gurus and philanthropists who project their own enthusiasm for Promethean entrepreneurship onto the poor. Yes, the poor are more likely to run their own business than the rest of us. But that is because they have no other choice. When asked, most of them aspire to a government post or a factory job. 

But the true value of Poor Economics lies in the wealth of knowledge and opportunities that answer to the small challenges thrown up. De-worming children, dropping chlorine into the village well, mid-day meals in schools, micro-credit and micro-insurance, improved local government, each provides a "billion client opportunity" and this list goes on.

Poor Economics is ultimately about how to fight global poverty; and helps us to understand why so many magic bullets of yesterday have ended up as today’s failed ideas. The book is also optimistic enough to argue that things can be improved at the margin; development community must keep on trying even in the face of overwhelming challenges.

Source: GKC

Singer Mohit Chauhan marries Journalist Secretly!

Bollywood singer Mohit Chauhan has secretly married his longtime love Prarthna Gehlot, a Delhi based Journalist, on June 29. The report came to light later.

The wedding took place on the same day when Esha Deol’s marriage was taking place. But while Esha married in Mumbai in presence of a huge band of biggies from Bollywood and Indian Politics, Mohit celebrated his wedding secretly in a lonely place far away from crowd and media.

Mohit, who is originally from a place called Nahan in Himachal Pradesh, had a simple wedding ceremony at a hotel 10 kms away from Barog in the district of Solan in Shimla.

As per reports no one from the film industry was present in this marriage.

Mohit's wife, who hails from Dehradun in Uttarakhand, works with an English magazine in Delhi.

Mohit is a current singing sensation of Bollywood who is well known for his hit romantic ballads in films including RDB, Jab We Met, Chak De India, Delhi-6, Love aaj Kal and many more to name. He began his Bollywood singing career with the hit number ‘Khoon Chala’ in Rand De Basanti, composed by A.R. Rehman and attained his zenith through ‘Rockstar’.

વિજય માલ્યા કેમ ના ચાલ્યા ?

આજકાલ કિંગફીશરની નિષ્ફળતાની વાર્તા જોર શોરથી ચર્ચામાં છે. બેન્કોની લોન થી માંડીને અંધારી આલમના ડોન સુધીની લેવડ-દેવડ આજે સાઉથથી લઈને નોર્થ સુધી સંભળાય છે. તેવામાં કિંગફીશરને ડૂબાડનાર કોણ તેવા પ્રશ્નો ઉપસ્થિત થાય તે જરૂરી છે. શું કંપનીના માલિક વિજય માલ્યા તેના દોષી છે કે પછી આડેધડ લીધેલી લોન. 

આ પ્રશ્ન જયારે કોઈ લોકો કિંગફિશર ના પ્લેનમાં બેસતા હશે ત્યારે નહિ વિચારતા હોય પરંતુ જયારે કોઈ એક આખી કંપની ઉઠી જાય ત્યારે જ લોકોને આ પ્રશ્નો પૂછવા સ્વાભાવિક થાય છે. સત્યમ કંપનીના ફ્રોડ પાછળ એક સ્વપ્ન હતું, આગળ વધવાનું અને ઝડપથી પૈસા કમાવાનું. મહેનતના નહિ પણ લોકોને છેતરીને.

કંપની ડૂબી જાય એ પછી જ તેના કિસ્સા, સ્ટોરી, પુસ્તક બહાર પડે છે પરંતુ આપણે જોઈએ કે કેમ કિંગ ફિશર હવે પછીના ૩-૪ મહિનામાં નાદારી નોંધાવશે?

કંપનીના એ બધા કર્મચારીનું શું ? કેટલી એર લાઈન તેના બધા જ કર્મચારીઓને પોતાની કંપનીમાં સમાવેશ કરશે ? એરપોર્ટના સ્ટાફથી માંડીને મોડેલોની નોકરીનો પ્રશ્ન હવે ઉપસ્થિત થવાનો છે. આ સમયમાં વિજય માલ્યા શું પોતાની કંપનીને વહેંચી નાખશે ? શું થશે આગળ ? જોઈએ બે ત્રણ દિવસમાં.