agenPress
By Jane Sasseen
BW Magazine
Glock's Secret Path to Profits
Can the Future Be Built in America?
In his first few months in office, President Barack Obama benefited from a giant halo effect, thanks to his sky-high approval ratings. That's history now, given the surprising public push-back over the President's quest to overhaul the U.S. health-care system.
Now, some business groups emboldened by the hit to Obama's popularity over health care hope to roll back other parts of the Administration's economic policy agenda. In fact, business lobbyists are putting the final touches on fall strategies aimed at blunting Obama initiatives on taxes, energy policy, and financial reform. Obama's troubles "change the game," says Jade West, head of government affairs for the National Association of Wholesaler-Distributors. "It makes it much easier for those of us fighting for more restrained government and tax policies."
The Administration believes much of the opposition is the result of a misunderstanding over what's truly in Congress' various health-care proposals—and the White House is confident it can overcome that. Still, many voters seem alarmed by soaring deficits and government overreach. "The public feels Obama has spent too much and entrenched the role of big government," says Gregory R. Valliere, chief policy strategist for broker Soleil Securities. Larry Summers, Obama's chief economic adviser, dismisses those concerns and says the White House is optimistic that it will pass a health-care bill. "Success begets success, and that will create momentum."
It had better, for Obama's effort to quickly pass a cap-and-trade bill to limit carbon emissions may be in trouble. Many manufacturers and utilities argue that the costs would weigh too heavily on the still-weak economy—a particularly strong argument in coal-heavy Southern and Midwestern states represented by conservative Democrats. Those lawmakers already face a popular backlash on health care and aren't eager to back another program their constituents don't like. As a result, formal debate on the cap-and-trade has been nudged back until later in the fall.
Shocking Scenario
Aside from health care, Obama's team also hopes to score wins on financial sector reform. Yet business lobbyists are fighting mightily to derail the White House's proposal for a Consumer Financial Product Agency aimed at boosting protections against predatory lending. Over the August recess, the U.S. Chamber of Commerce held a series of conference calls with local chapters across the country, arguing that the agency's proposed mandate is so broad it would apply to any small business that extends credit to its customers.
In recent days the powerful business lobby has begun running ads claiming that even a local butcher who lets his customers pay at the end of the month could be roped in. "People were shocked" by the ads, says David Hirschmann, president and CEO of the chamber's Center for Capital Markets Competitiveness. Suddenly, he adds, half the heads of local chambers feel targeted. For his part, Summers says such arguments can't be taken seriously.
Even so, these kinds of tactics could prove highly effective politically. Hirschmann says the campaign has generated 17,000 letters to congressional offices. The message may not be quite as scary as "ObamaCare will kill your grandma," but it may be enough to shift the debate. Such are the changing political dynamics confronting the White House
BY; AMIT KUMAR SINGH
PGDM III rd Sem
Friday, September 18, 2009
Japan considers revision of a deal with the US to relocate a military base to be a top diplomatic priority, Tokyo's newly appointed foreign minister has told the Financial Times, waving aside concerns that reopening the agreement could undermine the alliance between the countries.
The declaration by Katsuya Okada, a senior member of Japan's ruling Democratic party (DPJ), highlights the international implications of the party’s determination to set a more independent diplomatic agenda.
EDITOR’S CHOICE
Okada seeks to redefine Japan-US relations - Sep-17
Transcript: Katsuya Okada FT interview - Sep-17
Bank of Japan upgrades view on economy - Sep-17
JAL turnround plan to be reviewed - Sep-16
In depth: Japan elections - Jul-24
In his first interview after the creation of the new DPJ government on Wednesday, Mr Okada on Thursday stressed the importance of Japan’s half-century alliance with the US and his willingness to widen and deepen the relationship.
However, he insisted that there must be "serious discussions" on revision of the 13-year-old plan to relocate the US Futenma marine air base within Okinawa to lighten the burden on residents of the southern Japanese island of hosting US forces.
"It is necessary for Japan and the US to engage in discussions on this issue, making sure that there is a very high priority placed on it," said Mr Okada, who considers Japan's foreign policy under the long-ruling Liberal Democratic party to have been "excessively dependent" on the US.
The agreement was intended to ease the burden imposed by US forces on Okinawa by moving the Futenma air station, which is located in the heart of a residential area, to a coastal site. At the same time about 8,000 of the 15,000 marines on Okinawa would move to the US island of Guam to new, Japanese-funded facilities.
However, the deal has been fiercely opposed in Okinawa because of the environmental and social impact of the new base and because it leaves the bulk of the US military presence in place on the small and densely populated island.
On the day of the government's creation, the new foreign minister sent supporters an e-mail saying the Futenma base relocation was an issue that "must be resolved within 100 days".
"I said 100 days because the talks have been much advanced and it is not possible for us to postpone solution forever," said Mr Okada.
However, the foreign minister declined to give details of how the relocation plan might change. US officials have stressed the importance of sticking to the current plan, which is part of a complex and expensive realignment of US forces.
"The [realignment] road map is not a menu from which either side can pick and choose what it wants to implement," Lt Gen Edward Rice, the top US commander in Japan, said in July, adding that the deal should be "fully implemented".
Mr Okada's choice of the base relocation as a priority will make it a test case for how well policymakers on both sides of the Pacific can adjust to new political realities following the fall of the LDP, which ruled Japan for almost all of the last 54 years.
Some analysts in Washington have suggested that bickering over the Futenma base could become a lightning rod for the tensions likely to be created by DPJ efforts to forge a more assertive foreign policy.
The issue now appears likely to feature in talks between Japanese leaders and Kurt Campbell, US assistant secretary of state for east Asian affairs, who arrived in Tokyo on Thursday, and in a planned meeting between Yukio Hatoyama, Japan's new prime minister, and Barack Obama, US president, in the US next week.
BY; AMIT KUMAR SINGH
PGDM IIIrd Sem
The declaration by Katsuya Okada, a senior member of Japan's ruling Democratic party (DPJ), highlights the international implications of the party’s determination to set a more independent diplomatic agenda.
EDITOR’S CHOICE
Okada seeks to redefine Japan-US relations - Sep-17
Transcript: Katsuya Okada FT interview - Sep-17
Bank of Japan upgrades view on economy - Sep-17
JAL turnround plan to be reviewed - Sep-16
In depth: Japan elections - Jul-24
In his first interview after the creation of the new DPJ government on Wednesday, Mr Okada on Thursday stressed the importance of Japan’s half-century alliance with the US and his willingness to widen and deepen the relationship.
However, he insisted that there must be "serious discussions" on revision of the 13-year-old plan to relocate the US Futenma marine air base within Okinawa to lighten the burden on residents of the southern Japanese island of hosting US forces.
"It is necessary for Japan and the US to engage in discussions on this issue, making sure that there is a very high priority placed on it," said Mr Okada, who considers Japan's foreign policy under the long-ruling Liberal Democratic party to have been "excessively dependent" on the US.
The agreement was intended to ease the burden imposed by US forces on Okinawa by moving the Futenma air station, which is located in the heart of a residential area, to a coastal site. At the same time about 8,000 of the 15,000 marines on Okinawa would move to the US island of Guam to new, Japanese-funded facilities.
However, the deal has been fiercely opposed in Okinawa because of the environmental and social impact of the new base and because it leaves the bulk of the US military presence in place on the small and densely populated island.
On the day of the government's creation, the new foreign minister sent supporters an e-mail saying the Futenma base relocation was an issue that "must be resolved within 100 days".
"I said 100 days because the talks have been much advanced and it is not possible for us to postpone solution forever," said Mr Okada.
However, the foreign minister declined to give details of how the relocation plan might change. US officials have stressed the importance of sticking to the current plan, which is part of a complex and expensive realignment of US forces.
"The [realignment] road map is not a menu from which either side can pick and choose what it wants to implement," Lt Gen Edward Rice, the top US commander in Japan, said in July, adding that the deal should be "fully implemented".
Mr Okada's choice of the base relocation as a priority will make it a test case for how well policymakers on both sides of the Pacific can adjust to new political realities following the fall of the LDP, which ruled Japan for almost all of the last 54 years.
Some analysts in Washington have suggested that bickering over the Futenma base could become a lightning rod for the tensions likely to be created by DPJ efforts to forge a more assertive foreign policy.
The issue now appears likely to feature in talks between Japanese leaders and Kurt Campbell, US assistant secretary of state for east Asian affairs, who arrived in Tokyo on Thursday, and in a planned meeting between Yukio Hatoyama, Japan's new prime minister, and Barack Obama, US president, in the US next week.
BY; AMIT KUMAR SINGH
PGDM IIIrd Sem
Politics & the Nation
Justice Dinakaran and why is he in the news
He is the Chief Justice of Karnataka High Court and is due to be elevated to the Supreme Court. In fact the collegium of Supreme Court judges headed by the Chief Justice of India has recommended his name for elevation to the Supreme Court.
Then all hell broke lose with prominent personalities from the legal fraternity airing views that he has amassed assets disproportionate to known sources of income. This has made his elevation to the Supreme Court quite tough.
Take a look at this news report which gives further details.
Finance & Economy
An interestingly speculative story about why RIL is shedding its Trust shares
Take a look at this story. Incidentally, did you notice the phrase "Treasury stock" in the story? Remember what is this concept about? Take a quick recap of it from our 11.09.2008 notes. It's there right on top.
We can learn even from advertisements
Time was when, one of us, as a student of Bachelor of Communication and Journalism, learned the answer to the conventional question -- what purpose do ads serve? Today, we have an answer in practical terms.
Look at this Seimens ad. It dishes out some very useful facts and also lets us on to a new concept in power distribution. Some excerpts:
ATC (Agreegate Technical and Commercial) losses range between 35 to 40% in the country. If non-technical losses like theft and pilferage are included, losses shoot up to 50%.
Every 1% reduction in T&D loss can save the need for an additional capacity of 800 MW.
Two technologies that can help reduce AT&C losses:
HVDC
FACTS
Selective credit control; what is it?
"Selective credit control on anvil to tame inflation" So reads a headline in today's ET. What is meant by this phrase?
It means credit flow will be allowed to some sectors while denied to some others which are seen as inflation strengthening.
RBI is likely to resort to sector-specific measures to tame food price inflation and to ensure credit flow to some key sectors, including sub-Rs 30 lakh housing and SMEs.
Under Section 21 of the Banking Regulation Act, RBI is empowered to issue directions to control advances by banking companies when it feels it is necessary to give directions in public interest, in the interest of depositors and in the interest of banking policy.
The sector-specific measures are being considered as credit growth in India is around 15%, which is below RBI’s expectation of a 20% growth against last year’s credit growth of 26%.
The annual inflation for food items is currently at a decade high of 15% while the headline retail inflation as measured by the three consumer price indices is at around 12% each.
What are the measures that RBI could possibly take to tame inflation?
The likely inflation control measures could include an increase in the minimum margins for lending against select commodities, currently close to 25%, ceilings on levels of credit, and increase in interest rates on advances against specified commodities. Scarcity of funds is expected to discourage speculative hoarding and thereby alleviate the pressure on prices.
States agree on two tier GST
STATES have agreed on a two-rate structure for the proposed unified goods and services tax (GST), brightening prospects for its speedy implementation, but a meeting of state finance ministers on Wednesday was divided on whether the tax could be implemented by next April.
States want a standard rate, another lower rate for essential commodities and a special rate for precious metal. Till now, the Centre was keen on having a single rate, and is likely to stick to this view for central GST.
We should not get tired of understanding the concept of dual listing, as it is making headlines for the third successive day...
Simply put, a dual-listed entity involves two companies incorporated in different countries contractually agreeing to operate their businesses as if they were a single enterprise, while retaining their separate legal identity and existing stock exchange listings. You could call it a virtual merger of sorts. The shares in each corporate entity reflect the combined economics of the two companies and the operations of the companies are managed through a common governance structure. On the face of it, this may seem a very complicated exercise.
For an understanding of the problems involved in allowing dual listing by India, take a look at today's ET editorial on the subject.
International
The limitations of GDP in measuring well-being
Joseph Stiglitz, one of our favourite authors while writing on the subject sounded to us as if he was echoing the Bhtanese King's words on the limitations of measuring economic growth through GDP. (Look at our notings on 11.11.2007 and 24.03.2008) Bhutanese King is well, a King from a very small country and perhaps will not be taken seriously in academic circles. But when a Nobel Laureate like Stiglitz speaks of the same concept, the concept gets noticed. Not the King of the small kingdom.
It was after all, not the Bhutanese King alone, even the French President was bored with GDP. Therefore he set up a committee to explore the possibility of finding an alternative to GDP. That committee is called the "Commission on the Measurement of Economic Performance and Social Progress." Let us hope that it will come up with a better alternative to GDP.
In the meantime take a look at what our Nobel Laureate is suggesting that its report should be speaking of:
It should provide guidance for creating a broader set of indicators that more accurately capture both well-being and sustainability; and it should provide impetus for improving the ability of GDP and related statistics to assess the performance of the economy and society.
Well... is it sounding like gibberish? Forget it for now. It doesn't? Then delve into details here.
Medicine
US is reported to have approved four vaccines for H1N1 virus.
The initial lots of the vaccines are expected to become available in a month’s time.
The four vaccines approved are made by CSL Limited, MedImmune LLC, Novartis Vaccines and Diagnostics Limited, and Sanofi Pasteur Inc.
Sport
Asafa Powell wins 100 metres in Pedros Cup
Asafa Powell dominated the field to win the 100 metres in 9.82 seconds, and Tyson Gay cruised to victory in the 200 at the Pedros Cup.
The Pedros Cup is an annual Athletics (track and field) competition that takes place each year in Bydgoszcz, Poland. The event typically draws top level competition. At the 2008 event, Asafa Powell became the first sprinter to turn in a sub-10 second 100 metres time in Poland.
BY; AMIT KUMAR SINGH
PGDM III rd Sem
Justice Dinakaran and why is he in the news
He is the Chief Justice of Karnataka High Court and is due to be elevated to the Supreme Court. In fact the collegium of Supreme Court judges headed by the Chief Justice of India has recommended his name for elevation to the Supreme Court.
Then all hell broke lose with prominent personalities from the legal fraternity airing views that he has amassed assets disproportionate to known sources of income. This has made his elevation to the Supreme Court quite tough.
Take a look at this news report which gives further details.
Finance & Economy
An interestingly speculative story about why RIL is shedding its Trust shares
Take a look at this story. Incidentally, did you notice the phrase "Treasury stock" in the story? Remember what is this concept about? Take a quick recap of it from our 11.09.2008 notes. It's there right on top.
We can learn even from advertisements
Time was when, one of us, as a student of Bachelor of Communication and Journalism, learned the answer to the conventional question -- what purpose do ads serve? Today, we have an answer in practical terms.
Look at this Seimens ad. It dishes out some very useful facts and also lets us on to a new concept in power distribution. Some excerpts:
ATC (Agreegate Technical and Commercial) losses range between 35 to 40% in the country. If non-technical losses like theft and pilferage are included, losses shoot up to 50%.
Every 1% reduction in T&D loss can save the need for an additional capacity of 800 MW.
Two technologies that can help reduce AT&C losses:
HVDC
FACTS
Selective credit control; what is it?
"Selective credit control on anvil to tame inflation" So reads a headline in today's ET. What is meant by this phrase?
It means credit flow will be allowed to some sectors while denied to some others which are seen as inflation strengthening.
RBI is likely to resort to sector-specific measures to tame food price inflation and to ensure credit flow to some key sectors, including sub-Rs 30 lakh housing and SMEs.
Under Section 21 of the Banking Regulation Act, RBI is empowered to issue directions to control advances by banking companies when it feels it is necessary to give directions in public interest, in the interest of depositors and in the interest of banking policy.
The sector-specific measures are being considered as credit growth in India is around 15%, which is below RBI’s expectation of a 20% growth against last year’s credit growth of 26%.
The annual inflation for food items is currently at a decade high of 15% while the headline retail inflation as measured by the three consumer price indices is at around 12% each.
What are the measures that RBI could possibly take to tame inflation?
The likely inflation control measures could include an increase in the minimum margins for lending against select commodities, currently close to 25%, ceilings on levels of credit, and increase in interest rates on advances against specified commodities. Scarcity of funds is expected to discourage speculative hoarding and thereby alleviate the pressure on prices.
States agree on two tier GST
STATES have agreed on a two-rate structure for the proposed unified goods and services tax (GST), brightening prospects for its speedy implementation, but a meeting of state finance ministers on Wednesday was divided on whether the tax could be implemented by next April.
States want a standard rate, another lower rate for essential commodities and a special rate for precious metal. Till now, the Centre was keen on having a single rate, and is likely to stick to this view for central GST.
We should not get tired of understanding the concept of dual listing, as it is making headlines for the third successive day...
Simply put, a dual-listed entity involves two companies incorporated in different countries contractually agreeing to operate their businesses as if they were a single enterprise, while retaining their separate legal identity and existing stock exchange listings. You could call it a virtual merger of sorts. The shares in each corporate entity reflect the combined economics of the two companies and the operations of the companies are managed through a common governance structure. On the face of it, this may seem a very complicated exercise.
For an understanding of the problems involved in allowing dual listing by India, take a look at today's ET editorial on the subject.
International
The limitations of GDP in measuring well-being
Joseph Stiglitz, one of our favourite authors while writing on the subject sounded to us as if he was echoing the Bhtanese King's words on the limitations of measuring economic growth through GDP. (Look at our notings on 11.11.2007 and 24.03.2008) Bhutanese King is well, a King from a very small country and perhaps will not be taken seriously in academic circles. But when a Nobel Laureate like Stiglitz speaks of the same concept, the concept gets noticed. Not the King of the small kingdom.
It was after all, not the Bhutanese King alone, even the French President was bored with GDP. Therefore he set up a committee to explore the possibility of finding an alternative to GDP. That committee is called the "Commission on the Measurement of Economic Performance and Social Progress." Let us hope that it will come up with a better alternative to GDP.
In the meantime take a look at what our Nobel Laureate is suggesting that its report should be speaking of:
It should provide guidance for creating a broader set of indicators that more accurately capture both well-being and sustainability; and it should provide impetus for improving the ability of GDP and related statistics to assess the performance of the economy and society.
Well... is it sounding like gibberish? Forget it for now. It doesn't? Then delve into details here.
Medicine
US is reported to have approved four vaccines for H1N1 virus.
The initial lots of the vaccines are expected to become available in a month’s time.
The four vaccines approved are made by CSL Limited, MedImmune LLC, Novartis Vaccines and Diagnostics Limited, and Sanofi Pasteur Inc.
Sport
Asafa Powell wins 100 metres in Pedros Cup
Asafa Powell dominated the field to win the 100 metres in 9.82 seconds, and Tyson Gay cruised to victory in the 200 at the Pedros Cup.
The Pedros Cup is an annual Athletics (track and field) competition that takes place each year in Bydgoszcz, Poland. The event typically draws top level competition. At the 2008 event, Asafa Powell became the first sprinter to turn in a sub-10 second 100 metres time in Poland.
BY; AMIT KUMAR SINGH
PGDM III rd Sem
Email tax: "it's a ******* stupid idea"
IT Sneak reports on a rather refreshing response when it called a 'leading global telco' to find out its stance on the EU's investigation into taxing emails and text messages.
"We tend not to comment on legislation when it is at the proposal stage," said the corporate mouthpiece. "Because what will happen is that the EU will spend two years looking at it and then come to the same conclusion as everyone else: that it's a f***ing stupid idea."
Hey, if they'd asked us we'd have given them the same response. It's much the same as what our PR man Stuart said yesterday in his blog post about the same subject - except he was politer!
Technorati : EU, Europe, IT Sneak, IT Week, Messaging, e-mail, email
BY; AMIT KUMAR SINGH
PGDM III rd Sem
IT Sneak reports on a rather refreshing response when it called a 'leading global telco' to find out its stance on the EU's investigation into taxing emails and text messages.
"We tend not to comment on legislation when it is at the proposal stage," said the corporate mouthpiece. "Because what will happen is that the EU will spend two years looking at it and then come to the same conclusion as everyone else: that it's a f***ing stupid idea."
Hey, if they'd asked us we'd have given them the same response. It's much the same as what our PR man Stuart said yesterday in his blog post about the same subject - except he was politer!
Technorati : EU, Europe, IT Sneak, IT Week, Messaging, e-mail, email
BY; AMIT KUMAR SINGH
PGDM III rd Sem
Action plan to stem brain drain from INDIA
To stop the flight of scientific talent from the country, Government is contemplating ways of making the working environment in cutting edge departments more attractive, Prime Minister Manmohan Singh said on Sunday. "We have to think of new ways to stem the hemorrhage of scientific talent from our key technology department, particularly in today's competitive environment" Singh told the country's top defence scientists. Singh said he had asked senior officials to work out measures and devise ways to make careers in science more attractive. "Apart from fiscal and career incentives, we are willing to consider mobility between such (scientific) institutions and academia, as well from research institutions to production and marketing sectors," Singh said at the function to honour excellence in defence research. "My own Scientific Advisory Council is also deliberating this question", the Prime Minister said. He, however, cautioned that this cannot become an "unrestricted" right. "It must be exercised with responsibility." The Prime Minister said the Government was looking at ways to outsource a percentage of tasks assigned to research facilities to industry, wherever, it was feasible." "This will enable our institutions to focus on development of technology, while applications, industrialization and related aspects are devolved to industry," he added.
BY: ASIM SINGHAL
PGDM IIIrd
Don't take risks with your World Cup emails
Today we've joined in the World Cup fever to issue a warning about the risk to small and medium size businesses if employees circulate video clips of their favourite World Cup moments. Yes it's a shameless bit of self-promotion (although not as tacky as some companies are being!) but has a serious point.
As our warning says top corporate lawyers Baker & McKenzie are already preempting any potential copyright violations by sending warning letters to websites like Boing Boing. And just in case you think your emails will be safe and won't come to wider attention just read this news story about what happened when one of Baker & Mckenzie's own lawyers sent a saucy email.
We've used Del.icio.us to bookmark and share some useful, relevant and helpful web sites related to this topic. You can see our links here or why not subscribe to the RSS feed so you'll know when we update the list.
Of course from our self-promotion point of view the most important link is to WorkgroupMail, our email server for small and medium size businesses which is what enables you to set up filters and block those pesky attachments that might get you into trouble.
This post shows how easy it is to use WorkgroupMail to filter video file attachments.
Technorati : SMB, SME, Softalk, WorkgroupMail, e-mail, email, email filters, email server, small business
BY; AMIT KUMAR SINGH
PGDM III rd Sem
Today we've joined in the World Cup fever to issue a warning about the risk to small and medium size businesses if employees circulate video clips of their favourite World Cup moments. Yes it's a shameless bit of self-promotion (although not as tacky as some companies are being!) but has a serious point.
As our warning says top corporate lawyers Baker & McKenzie are already preempting any potential copyright violations by sending warning letters to websites like Boing Boing. And just in case you think your emails will be safe and won't come to wider attention just read this news story about what happened when one of Baker & Mckenzie's own lawyers sent a saucy email.
We've used Del.icio.us to bookmark and share some useful, relevant and helpful web sites related to this topic. You can see our links here or why not subscribe to the RSS feed so you'll know when we update the list.
Of course from our self-promotion point of view the most important link is to WorkgroupMail, our email server for small and medium size businesses which is what enables you to set up filters and block those pesky attachments that might get you into trouble.
This post shows how easy it is to use WorkgroupMail to filter video file attachments.
Technorati : SMB, SME, Softalk, WorkgroupMail, e-mail, email, email filters, email server, small business
BY; AMIT KUMAR SINGH
PGDM III rd Sem
Hyundai to produce $5,000 car in India
SEOUL: South Korean carmaker Hyundai Motor Co plans to produce a new model in India priced as low as $5,000 and targeting emerging countries,
business daily Nikkei reported. Lheem Heung-soo, chief executive of Hyundai Motor India Ltd, told Nikkei in an interview the 800cc car, to be manufactured at its Chennai factory, would retail for $5,000-$6,000, adding the vehicle's debut was several years away. In addition to the rollout in India, where Hyundai
is ranked No. 2, the model will be shipped to other emerging countries, the paper said. A Hyundai spokeswoman in Seoul said the company was developing a small-size model in India but declined to give details such as the likely price or timing of sale.
by:asim singhal
pgdm IIIrd
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