Jerry Yang, Yahoo CEO, finally takes a bow! Does it open the door to Microsoft?

So finally the inevitable happens. Jerry Yang, who founded Yahoo and who is currently its CEO, decides to quit from the top post. Its more or less expected after he and the rest of the Yahoo board rejected Microsoft Offer. You cannot blame this guy for the stock hammering that took place in recent times, it just reflects the overall market conditions. Even Google is not spared! Anyhow the question now is will Yahoo and its new CEO will be open to the idea of working with Microsoft? I know Google backedout of the ad deal with Yahoo so there is not much support from it to Yahoo as well. Maybe Microsoft is playing a role in these from backstage. It will be interesting to see if Microsoft will come up with a revised offer, Yahoo stock is hovering around 10 $ so maybe they can now it cheaper.

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Infosys asks employees to take Sabbatical!! What is the Real Intention?

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We are in midst of a huge Financial Crisis, that’s clear. And its also clear that the impact is not going to be limited to financial sector, the effect is now being slowly but surely felt on industries that are important to the real economy. Even though we, in India, are not part of the core crisis that started in India we still are greatly affected – markets are being hammered, foreign money is being pulled out of the country, promised investments aren’t coming, companies depending on exports are closing down and people losing jobs.

IT sector, which is the horsepower that drove India’s growth in 90’s and which is still the foreign currency earner, is not left untouched. All top Indian IT companies have a decent portion of their revenues from the US Top Financial Institutions. There is a huge concern that these companies will not be able to deliver the same results in the coming quarters as the spending from affected institutions will be cut down and the projects will be shelved. There is also an opposite point of view that thinks US problems will translate into more revenues since US companies will start pushing more work to India.

We have to wait and see which view comes true in the near future. But, right now, I could see the impact. Its not as bad as the technology bubble but its there. No salary hikes, worse some companies cut the salaries, employee weeding in the name of performance, Satyam used wrong claims that were as old as 1 year to lay down a few, and now Infosys have come up with a policy where the employees can take sabbatical from their work to get involved in philonthropic activities.

I cannot comment on their real intentions. I see it as very innovative way of cutting down costs without actually looking like you are in trouble and also earning the good name in the society for its philonthropic inclience. Ofcourse they can easily use it as a tool to increase efficiency by making some of the non-performers take it. So they are not officially laid off, they can still be happy that they get 50% of their salaries.

But this also raises the question how effective these guys are going to be when they come back after an year – will they be refreshed and raring to go or will they be out of touch and find it difficult to get going? And also what if the conditions are still bad? Can Infosys just take them and put them on bench? And will they really keep on their promise of taking them back?

I see that it can be effective tool to cut costs in the near term by retaining the guys for half of the costs and having the option of getting them as soon as situation improves. You dont have to spend time and money to recruit new resources and train them on Infosys way.

Infy, this is really a smart way of doing things!

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Attractive Stocks for making money in the turbulent Indian Stock Market

Axis bank is very close to its support levels at the moment and is a good choice as per me to get into for a quick trade. I put in half of my money around Rs 505 and I will put the other half after a couple to days seeing where the markets go.

Actually I did not think that the Indian Stock Market will be down today due to the low inflation numbers that came in yesterday and also the good showing by the global markets. So I put in a buy at a defensive price. I will wait for 2 days and if the markets tank I will double up the money on Axis. One of the reason why I am confident on this stock is that its in banking which are beneficiaries of lower inflation and this company has had no negative news exposure.

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Best and Top Indian Mutual Fund Comparison

If you are looking for a quick comparison of the best and top indian mutual funds then have a look at this post

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Tata Nano, Gujarat and Indian Political Leaders who matter

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In one of my earlier posts I had written that whatever maybe the Mamata bitch was upto Tata and West Bengal had no options but to compromise on the Singur issue and give up to her demands. But I had not imagined in my wildest dreams that the soft spoken Tata can have such a steely resolve to move the plant to a place where he said there will be people and the society participation. Just Hats off to this person who did give in to the dirty politics of Mamata and was willing to take up such huge losses for a long term benefit.

In this context I also have hail people like Narendra Modi, who may be hawkish in his approach and may not be secular but he does what really matters to his people and his state. Stats about investments in Gujarat makes all other states pale in comparison. I also liked his principle of not showering incentives to businesses to setup shops there. I tend to respect guys like him and Lalu Prasad Yadav who for all their faults also prove to be great leaders and economic developers.

In my opinion India should have leaders who do it rather than give ‘bhasan’ and preach secular values and contribute nothing to the improvement of the country and the people. Leaders like Lalu, Modi and even Chandra babu Naidu may have eaten their pie but their contributions outweigh these. Its better for India to have such leaders rather than duds who just follow populist policies to grab votes and power.

Coming back to Nano, hopefully Gujarat should prove to be a lucky place for them and it in fact looks like the right place to be in with the ports and high ways near by. Perhaps they should have looked at a friendly state instead of going for incentives. And hopefully the stock price which got battered during the Singur crisis should prop up.


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Ind vs Aus test cricket series 2008

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How come the India vs Australia series that started today is failing to evoke any excitement in me? Is it the credit crunch and the financial crisis and the resulting fear and anguish? Or is it the invention of 20/20 format? Or Maybe its because of the fantastic four who are no way near fantastic and the two ineffective spinners in the team that makes the team and the game a little boring! I don’t know but unfortunately I am not even bothered to take a look at the score. What about you guys? Still interested in the game?

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House in US sells for $1.75 on eBay – Weird but true!!

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This is something I came across today which sounded totally untrue but it seems to be for real

New York: In the midst of the housing mortgage crisis gripping the US, a Chicago woman has won an online bid to acquire a home in Michigan for just $1.75.
Noting that the price of the home in Saginaw, Michigan, was less than the price of a McDonald’s value meal, a media report said that it received total eight bids on and was sold for $1.75 on Wednesday evening.

However, the winner of the bid, 30-year-old Joanne Smith of Chicago, would have to pay about $850 towards pending taxes yard clean-up costs, the Saginaw News reported.

The winner herself, however, does not want to move to the house and wants to sell it further.

“I am going to try and sell it,” she told the newspaper, adding, “I don’t have any plans to move to Saginaw. I don’t have any plans of moving out from Chicago.”

Smith has not yet seen the property. “People from whom I bought the house are not giving me any information about it,” the report quoted her saying.

“I know that the property is abandoned and that there are taxes owed on the house, but all I have is their e-mail,” she added.

The newspaper reported that it could not reach the seller, Southern Investments LLC, for comment.

“I was trying to go and see it, but I am not going to make a 300-mile trip if I can’t go in the house and see inside,” Smith told the daily, adding, “It could be haunted or something.”

“She will pay additional charges, aside from the dollar and change it cost her, to win the auction. Back taxes and a trash/weed clean-up will set the final price tag around $850. The fee is due by Tuesday, March 31, or the city will foreclose on the property,” the report said.

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