Friday, October 10, 2008

The shit has hit the fan!

And I'm not talking about the blatant misuse of copyrighted material by newspapers. Which almost invariably occurs in the Edit pages of newspapers - wonder if edit page editors stuck in a 1960's time warp don't quite understand the concept of copyright. But, some argue that Chiddu is really not to blame, after all Chiddu (and the desi economy) is but a mere victim of global greed and GW not content driving the US into ruin has managed to drag the entire world into chaos. I wonder if my mother's idea of withdrawing money and buying gold a few months ago has become an act of sheer genius.
But seriously, Udayan's face during initial market hours as the market collapsed a thousand points in early trade was in marked contrast to the faces of absolute horror that the CNBC US anchors last night. Those guys almost went hysterical with fear and rage - while UM seemed strangely dispassionate, almost Zen-like. Two extremes within twelve hours on the same channel, and I'm not quite sure I was a big fan of either. Well UM was not bad, and I get the idea that one should not perpetuate panic, but now even the language channels have caught on - and even the mainstream CNN-IBN is asking 'Is your money safe?'. Note that CNN-IBN asks crazy rhetorical questions such as 'Have Christians lost faith in India?' where the Congress sends a spokesperson there who says that 'those people' (the Sangh) are going on about Ram-something or the other." Interesting way of pissing off 'those people'. Note to the Congress send erudite people preferably from the majority community to answer criticisms, unless you admit that a large majority of your party is scared of taking action against the Bajrang Dal, lest Hindu votes consolidate against the Congress.
True, the religious whacko's manage to go mad just before election season, but you could almost sense that this was coming. The problem is that all those who claim that they feel strongly against the whacko's on TV and Print won't vote. I hate the whacko's but I cannot possibly vote for this inept government again and I will vote. As much as I think that V.K Malhotra is an old coot, I can't vote for the party that gave us the crappy BRT - even though god knows what can be done with that stretch of road short of re-doing everything.
Anyway, back to the media now I guess. I'm just wondering how Ratan Tata and Bennett have kissed and made up a few short years after the Tata Finance fiasco. The only exclusives before the launch of the Gujju Nano were to ET and ToI. Makes you wonder really. As they say, there are no permanent friends or enemies in politics, maybe even Ratan Tata is a lot more pragmatic than people think. I mean the concept of 'Indian pragmatism' not business pragmatic - since the Jaguar-Land Rover is probably going to end up sinking Tata Motors, though apparently they could have even bought General Motors for the same amount of money going by yesterday's share price of GM. I wonder, GM's desi unit CEO, a Brit called Karl Slym is selling a three-year free service program for their cars here, I just don't think that there will be a GM in three years time. Heck, a hell of a lot of other companies won't be there in three years time.
Actually, the economic slowdown has put a cramp on the launch plans of several networks - apparently Triveni TV, the guys who just launched Voice of India TV are holding back on their lifestyle channel launch. Which is a good idea for a while, but what about all the people they hired for massive salaries? And how long will a channel hold on before cutting back staff for unviable channels? As it is appraisals in 2009 will be on the lower end of the scale. And a note to CNBC-TV18, I know that you guys have revamped your feature shows line-up - but isn't this a horrible time to have a show called 'Wealth Creators', nothing against Mitali, but the name of the show and the timing of its launch are a double whammy right now - and Rakesh Jhunjhunwala is not exactly a hero of the investing classes right now.

6 comments:

Anonymous said...

FYI. A leading Gujarati newspaper - Sandesh - published the report of NANO coming to Gujarat first. TOI and Sandesh has agreement on Content Sharing. That may be TOI's source of initial information which they might have confirmed with Tata Motors. Sandesh has deep connections with BJP government and they have managed to publish scoops like this well ahead of everybody else many times in past.

Anonymous said...

Rakesh Jhunjhunwala called the markets correctly last year on Diwali.. If only ppl had heeded him and sold off their portfolio today they wud have been buying truckloads at mouth watering rates.

Anonymous said...

Apparently Mr. Mukherjee is on a SEBI blacklist. His Zen-like stance is perhaps his way of coping...

Anonymous said...

Well it seems that Tata made his peace with BCCL, befor ethe launch of Nano. He needs the support of all the media houses he can get.

I guess he realised that if he realied on Neera Radia to do his PR, he isn't getting any (BW apart). Radia, is a walking disaster of a PR agent. Specialises in pissing of ppl and giving stuppid advice to the masters e.g. you are bigger than any media house, you can screw them etc. the earlier is true, the latter, not necessarily so.

Mr. Tata wanted to get rid of Jojo over the Tata Finance issue... ummm... Didn't work. Mr. Jain is quite obstinate as well.

Anonymous said...

Hi
So what's your take on the ICICI Bank rumours. Some of my friends in banking and media tell me they are in pretty bad shape and the government knows that too. Of course, the talk also is that the government will not allow it go under.
ICICI is busy sending out emails to all its customers telling them all is fine, but I've been hearing too many things from different people in banking and really wonder when this shit is going to hit the fan!

Anonymous said...

how dare u speak about neera radia that way? u loser... go find urself a life before u judge others.. pathetic individual..