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The Hindu Business Line : Hexaware to trim workforce by 5%
Low utilisation rates coupled with the uncertain economic environment in US is forcing the company to consider a slowdown in hiring. This, combined with a high attrition rate, would see the employee strength go down by 300 (by the year end).
സ്റ്റാര്‍ബക്ക്സിലെ പിരിച്ചു വിടല്‍ കഥ തുടരുന്നു. ജൂലായ് 1ന് യു. എസ്സിലെ 600 സ്റ്റോറുകള്‍ അടച്ചു പൂട്ടാന്‍ തീരുമാനിച്ചതിനെത്തുടര്‍ന്ന് 12000 ജീവനക്കാര്‍ക്കാണ് ജോലി നഷ്ടമായത്. അതിനു പിന്നാലെ സ്റ്റാര്‍ ബക്ക്സ് ആസ്ട്രേലിയയില്‍ 61 സ്റ്റോറുകള്‍ പൂട്ടുകയുണ്ടായി. ഇന്നലെ മാനേജ്മെന്റിലെ മാറ്റങ്ങളും 1000 ജീവനക്കാരെ പിരിച്ചു വിട്ട വാര്‍ത്തയും വായിക്കുക:
Starbucks Says It Will Eliminate 1,000 Jobs - NYTimes.com
In recent weeks, Starbucks has announced the closing of 600 stores in the United States. On Tuesday, it said it would close 61 of the 84 stores in Australia.
The 1,000 job cuts announced Tuesday represent 15 percent of the company’s nonstore positions, a spokeswoman said, adding that about 450 of the jobs were already vacant.
പണക്കാരുടെ ക്രെഡിറ്റ് കാര്‍ഡെന്ന് അറിയപ്പെടുന്ന അമേരിക്കന്‍ എക്സ്പ്രസ്സും വായ്പ തിരിച്ചടയ്ക്കാത്തവരുടെ പിടിയില്‍! അമേരിക്കന്‍ സമ്പദ് വ്യവസ്ഥയിലെ മാന്ദ്യം വളരെ ഉയര്‍ന്ന വായ്പാ തിരിച്ചടവ് ശേഷിയുള്ളവരെയും ബാധിക്കുന്നുവെന്ന് അമെക്സ് സി. എ. ഒ.
American Express Reports Rising Defaults
Chenault says the economic slowdown now appears to be impacting more affluent consumers with healthy credit scores, not just those holding subprime mortgages. American Express had more uncollectible loans than expected during the April-June quarter.
"We are seeing very affluent people who have had historically very, very strong spending history with us cutting back," Chenault said.
Posted by Paul at 2:06 AM No comments:
ലേഹ്‌മാന്‍ ബി. പി. ഒ - 180
ബി. പി. ഒ. കമ്പനികളുടെ ശനിദശ! 180 ജീവനക്കാരെ പിരിച്ചു വിട്ട വാര്‍ത്ത എക്കണോമിക്സ് ടൈംസില്‍:
Lehman BPO shows door to 180- ITeS-Infotech-The Economic Times
“In the second quarter, Lehman Brothers, globally, announced a $2.8-billion net loss due to bad debt. Some processing related to this bad debt was being done at Mumbai, which has been affected. Moreover, it’s expected that Lehman will announce a further write-off of about 2.5-billion in Q3 and declare some assets for sale. All this will have an impact on the Mumbai unit,” said an IT-BPO industry expert.
Posted by Paul at 2:01 AM No comments:
ഇത് ഇന്ത്യയിലെ കഥ! 26,596 കോടി രൂപയാണ് ക്രെഡിറ്റ് കാര്‍ഡ് കമ്പനികള്‍ക്ക് തിരിച്ച് കിട്ടാനുള്ള കടം. അടുത്ത സബ്‌പ്രൈം ക്രെഡിറ്റ് കാര്‍ഡ് മാര്‍ക്കറ്റിലാവും!
The rise in interest rates and economic slowdown are showing their impact. While the growth in personal and housing loans has moderated, the latest RBI data shows that credit card outstanding rose 87 per cent to Rs 26,596 crore (Rs 265.96 billion), with Rs 12,375 crore (Rs 123.75 billion) added between May 25, 2007 and May 23 this year. The rise was 45 per cent till May 2007.
Posted by Paul at 12:18 AM No comments:
Friday, July 25, 2008
സബ്‌പ്രം: ഫാന്നി & ഫ്രെഡ്ഡി
മുങ്ങിത്താഴ്ന്നു കൊണ്ടിരുന്ന Bear Stern-നെ കൈപിടിച്ചുയര്‍ത്തിയതിനു പിന്നാലെ, യു. എസ്. ഗവണ്മെന്റ് ഫന്നിയെയും ഫ്രെഡ്ഡിയെയും രക്ഷപെടുത്താനുള്ള തീവ്രശ്രമത്തിലാണ്! തുറന്ന വിപണിയെന്നൊക്കെ ഒരു സ്റ്റൈലിനു പറയുമെങ്കിലും, പണക്കാരനുള്ള സോഷ്യലിസമാണ് നടപ്പിലാക്കപ്പെടുന്നതെന്ന് അടുത്തകാലത്തുണ്ടായ സംഭവവികാസങ്ങള്‍ കാണിച്ചു തരുന്നത്.
But there is no reason that Congress cannot put serious conditions on the bailout. These two firms are facing bankruptcy because of the incompetence of their management, which in turn helped fuel the housing bubble.
If the top management at Fannie and Freddie had recognised the bubble (yes, this is their job) and stopped purchasing loans that were used to buy houses at bubble-inflated prices, it would have likely prevented the housing bubble from growing to such dangerous proportions. It also would have prevented Fannie and Freddie from holding or guaranteeing hundreds of billions of dollars of bad mortgage debt.
In a free-market economy, people who mess up on their job are supposed to be fired. While that may be the case for custodians and dishwashers, there are different rules for managers at banks who earn six-figure, seven-figure and even eight-figure salaries. These folks just run to the Fed and Treasury and get taxpayer dollars to keep their companies in business and their salaries in tack.
കൂടുതല്‍ ഇവിടെ വായിക്കുക: Paying for Fannie and Freddie's mistakes
Posted by Paul at 5:33 AM No comments:
Thursday, July 24, 2008
ഇന്ത്യയിലേക്കുള്ള ഔട്ട് സോഴ്സിങ്ങ് ജ്വരം പതിയെ കെട്ടടങ്ങുന്നുവെന്നും മള്‍ട്ടിനാഷണലുകള്‍ യാഥാര്‍ത്ഥ്യബോധത്തോടെ വസ്തുതകളെ അപഗ്രഥിയ്ക്കാന്‍ തുടങ്ങുകയും ചെയ്യുന്നുവെന്നാണ് പുതിയ സൂചനകള്‍! കഴിഞ്ഞ ഫെബ്രുവരിയില്‍ ഐ. ബി. എമ്മും (700 പേര്‍) ടി. സി. എസ്സും (500 പേര്‍) ജീവനക്കാരെ പിരിച്ചു വിട്ടതിന്റെ പിന്നാലെ പരസ്യമായും രഹസ്യമായും ജോലിയില്‍ നിന്ന് പിരിച്ചു വിടപ്പെട്ടവരുടെ എണ്ണത്തിന് കണക്കൊന്നുമില്ല.
കഴിഞ്ഞ ആഴ്ച യു.കെയിലെ ഓറഞ്ച് ടെലികോം അവരുടെ ഇന്ത്യന്‍ ബി. പി. ഒ ജോലികള്‍ തിരികെ യു.കെയിലേക്ക് മാറ്റുകയുണ്ടായി. 24x7 എന്ന ഔട്ട് സോഴ്സിങ്ങ് കമ്പനിയുടെ 400 ജീവനക്കാരെയാണ് ഇതിന്റെ ഫലമായി പിരിച്ചു വിട്ടത്. ഇതിന് തൊട്ട് മുന്‍പ് പാറ്റ്നി കമ്പ്യൂട്ടറും 400 ജീവനക്കാരെ പിരിച്ചു വിട്ടിരുന്നു.
‘‘Orange plans to bring its outsourcing share to India to a bare minimum. Dropping 24/7 Customer could just be the beginning,'' said an industry observer.
Patni Computer Systems has laid off close to 400 employees citing non-performance issues.
Posted by Paul at 2:31 AM No comments:
Tuesday, July 22, 2008
ഒരു ഇമെയില്‍ ഫോര്‍വേഡ് ആയി കിട്ടിയത്:
Once there was a little island country. The land of this country was the tiny island itself. The total money in circulation was 2 dollar as there were only two pieces of 1 dollar coins circulating around.
1) There were 3 citizens living on this island country. A owned the land. B and C each owned 1 dollar.
2) B decided to purchase the land from A for 1 dollar. So, A and C now each own 1 dollar while B owned a piece of land that is worth 1 dollar.
The net asset of the country = 3 dollar.
3) C thought that since there is only one piece of land in the country and land is non productive asset, its value must definitely go up. So, he borrowed 1 dollar from A and together with his own 1 dollar, he bought the land from B for 2 dollar.
A has a loan to C of 1 dollar, so his net asset is 1 dollar.
B sold his land and got 2 dollar, so his net asset is 2 dollar.
C owned the piece of land worth 2 dollar but with his 1 dollar debt to A, his net asset is 1 dollar.
The net asset of the country = 4 dollar.
4) A saw that the land he once owned has risen in value. He regretted selling it. Luckily, he has a 1 dollar loan to C. He then borrowed 2 dollar from B and and acquired the land back from C for 3 dollar. The payment is by 2 dollar cash (which he borrowed) and cancellation of the 1 dollar loan to C.
As a result, A now owned a piece of land that is worth 3 dollar. But since he owed B 2 dollar, his net asset is 1 dollar.
B loaned 2 dollar to A. So his net asset is 2 dollar.
C now has the 2 coins. His net asset is also 2 dollar.
The net asset of the country = 5 dollar. A bubble is building up.
(5) B saw that the value of land kept rising. He also wanted to own the land. So he bought the land from A for 4 dollar. The payment is by borrowing 2 dollar from C and cancellation of his 2 dollar loan to A.
As a result, A has got his debt cleared and he got the 2 coins. His net asset is 2 dollar.
B owned a piece of land that is worth 4 dollar but since he has a debt of 2 dollar with C, his net Asset is 2 dollar.
C loaned 2 dollar to B, so his net asset is 2 dollar.
The net asset of the country = 6 dollar. Even though, the country has only one piece of land and 2 Dollar in circulation.
(6) Everybody has made money and everybody felt happy and prosperous.
(7) One day an evil thought came to C's mind. "Hey, what if the land price stop going up, how could B repay my loan. There is only 2 dollar in circulation, I think after all the land that B owns is worth at most 1 dollar only."
A also thought the same by now.
(8) Nobody wanted to buy land anymore. In the end, A owns the 2 dollar coins, his net asset is 2 dollar. B owed C 2 dollar and the land he owned which he thought worth 4 dollar is now 1 dollar. His net asset become -1 dollar.
C has a loan of 2 dollar to B. But it is a bad debt. Although his net asset is still 2 dollar, his Heart is palpitating.
The net asset of the country = 3 dollar again.
Of course, before the bubble burst B thought his land worth 4 dollar. His net asset is still 2 dollar, his heart is palpitating.
The net asset of the country = 3 dollar again.
(9) B had no choice but to declare bankruptcy. C as to relinquish his 2 dollar bad debt to B but in return he acquired the land which is worth 1 dollar now.
A owns the 2 coins, his net asset is 2 dollar. B is bankrupt, his net asset is 0 dollar. ( B lost everything ) C got no choice but end up with a land worth only 1 dollar (C lost one dollar) The net asset of the country = 3 dollar.
******* Story Ends *******
There is however a redistribution of wealth. A is the winner, B is the loser, C is lucky that he is spared.
A few points worth noting -
(1) When a bubble is building up, the debt of individual in a country to one another is also building up.
(2) This story of the island is a close system whereby there is no other country and hence no foreign debt. The worth of the asset can
only be calculated using the island's own currency. Hence, there is no net loss.
(3) An overdamped system is assumed when the bubble burst, meaning the land's value did not go down to below 1 dollar.
(4) When the bubble burst, the fellow with cash is the winner. The fellows having the land or extending loan to others are the loser. The asset could shrink or in worst case, they go bankrupt.
(5) If there is another citizen D either holding a dollar or another piece of land but refrain to take part in the game. At the end of the day, he will neither win nor lose. But he will see the value of his money or land go up and down like a see saw.
(6) When the bubble was in the growing phase, everybody made money.
(7) If you are smart and know that you are living in a growing bubble, it is worthwhile to borrow money (like A ) and take part in the game. But you must know when you should change everything back to cash.
(8) In addition of land, the above applies to stocks as well.
(9) The actual worth of land or stocks depend largely on psychology
Posted by Paul at 4:53 AM No comments:
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സ്റ്റാര്‍ ബക്ക്സ് - 1000
ലേഹ്‌മാന്‍ ബി. പി. ഒ - 180
സബ്‌പ്രം: ഫാന്നി & ഫ്രെഡ്ഡി