India Rising

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First there was the Bombay Rising article about the financial markets in india. Now, Newsweek has done a piece on the “The New India.” The India story just keeps getting more press and more visibility. Some excerpts from the article: “…The country might have several Silicon Valleys, but it also has three Nigerias within it, more than 300 million people living on less than a dollar a day.” “…The Indian-American community has been a bridge between the two cultures. The term often used to describe Indians leaving their country is “brain drain.” But it’s been more like brain gain, for both sides. Indians abroad have played a crucial role in opening up the mother country. They returned to India with money, investment ideas, global standards and, most important, a sense that one could achieve anything.”
Link to article
Download article [pdf, 6 pages, 44kb]

2007 Mercedes Benz S Class

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The 9th generation S class was recently released, the 2007 S550 delivers 382 horsepower and 391 lb.-ft. of torque. The new S550, starts at USD 85,400 in the US and will start arriving in showrooms during February. To compare the Indian market to the US, in 2005 Mercedes sold 2019 cars in India. Fletcher Jones Mercedes located in Newport Beach, California sold 5331 cars for the same period. It’s the largest Mercedes dealership in the world based on volume.

Movie review: Enron

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I just saw the movie on the downfall of Enron – The Smartest Guys in the Room. It’s a documentary following the rise and fall of Enron. Not something to watch at an IMAX theater but very interesting to see the inner workings of the Enron culture of greed and arrogance. The height of the movie was during an excerpt from an April 17, 2001 earnings conference call where an analyst asked a question and Jeff Skilling fired back: Analyst – “You’re the only financial institution that can’t produce a balance sheet or cash flow statement with their earnings…” Skilling – “You, you, you…well uh…thank you very much. We appreciate it…asshole” To lose your cool during a earnings conference is just plain stupid but it shows the arrogance of Jeff Skilling.

Only in LA LA Land

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Former Gizmondo executive Stefan Eriksson crashed his USD 1,000,000 Ferrari Enzo into a light pole and split it in two, while driving on Pacific Coast Highway in Malibu, Cali. There are only 400 of these babies made, so I can only imagine the others will increase in price. But, here is where the Hollywood angle comes in – Stefan blamed a German man called “Dietrich”, the supposed driver who allegedly fled the scene. Stefan had a blood-alcohol content of .09% at the scene of the accident. It was rumored that “Dietrich” was racing a Mercedes Benz SLR a USD 500,000 car. I hope that Stefan spends the rest of his life looking for “Dietrich.” For updates on this story click here

India budget predictions

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Over the past few weeks many of the financial institutions have been releasing their views on the upcoming budget that will be officially announced on Feb 28th, once released you can download a copy from the Ministry of Finance website. The Indian Railways budget will be released today, for some reason the Railway always has a separate budget. The better predictions to read are from Kotak, Refco and Sharekahn.
Kotak
Refco
Sharekhan < a href="http://celestri.org/docs/enam-budget.pdf">Enam
KRC

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