Archive for the ‘News and politics’ Category

Subprime Lending Crisis

September 17, 2007 Leave a comment
Prakash shared this with me.
It is the list of list of Mortgage Imploded/Ailing Vendors.
A good number of my previous company’s clients are in the list.
And my previous company has the reputation of axing people on one fine day (when it is least expected).
I do not know how many are going to be axed this time.
On the contrary, I do not how the subprime mortgage crisis is going to hit other IT businesses.
We better keep a close watch on this.
Categories: News and politics

Foul play at Appollo?

December 10, 2006 Leave a comment
Categories: News and politics

Bangalore – Cost of living and IT

November 23, 2006 Leave a comment
Save young People from Debts… Read carefully and pass it on….. Stop the Inflation.. (united in action we rise , divided we fall)
No  PVR  Cinemas, No coffee day, No Barista, No  S.L.V  hotel, No  Adigas hotel, No  thetares … (You know where to go and where not to go after reading this mail…) between 16-Nov-2006 and 15-Dec-2006. Its not just a forward. How  many of you are ready to follow this?
(below email "Save the IT People from Debts" was wonderful and we should go through it and also forward to all our friends)
Real Estate price hike is known open robbery from IT guys by brokers / whoever it is and it’s not only Flats / Real Estate, IT guys undergo open robbery from all rich shop owners / a person who wanted to become rich as fast as possible… The salary whatever we get, it’s our hard-earned money, most of the times sitting in the night, away from family functions, friends, etc…but all our money or most of the money are going to someone who just takes advantage of our stressful life (both mentally and physically) and our new western life style.
I do not find anything wrong in having a US / UK life style, but many open thieves (starting from Ministers to our local Restaurant owner) just swindling all our "legal money" and as we do not have any other choice becoming poor / debtor day by day. Well most of the price hikes are just unbelievable and there is absolutely no justification (few examples given below).
Chicken Biriyani ) – Rs. 65
Today (since last 2 weeks) same  Chicken Biriyani (believe me, there is absolutely no change) – Rs. 78, there is no justification for such a big increase.
Pop Corn ( PVR  Complex) previously (month and half back) – Rs. 20
Today (almost the same quantity) – Rs. 30 (again, i do not find any justification)
Corn in Garuda Mall previously (month back) – Rs20 Small, Rs 30 Medium and Rs 40 High
Now, No "actual" small and real small has become 35 now and 45 for high… [Are they the farmers who have given their blood to grow this ]
(In  PVR  complex, many price hikes are really too much for no reason…)
Chips packet (Gangotree) previously (three months back) – Rs. 15
Since last two Months the same packet costs – Rs. 20 (again, I do not find any justification)
Room Clean (just once) – Rs. 200, that’s bcos they cleaned IT guys room.
(The moment you say that you are from Software company, the price automatically increases…)
We guys already pays big taxes from our salaries and goes on paying other taxes too (starting from  Hotel Adiga’s  "Vada" to Scotch in a bar), it’s time to think and pledge ourselves that we stop spending just for one month…
Reason(s) why we should stop spending alteast for a month:
    1. 70% of the IT guys occupies the restaurants.
    2. 80-90% of the IT guys goes to coffee shop, hang around places, bakeries, etc.
    3. Most of the IT guys goes to  PVR,Garuda complex  for  , Movies
If we stop going / spending just for a month, their business automatically goes down and they would have no other choice except to bring down the price, that’s what happened when IT industry was down three years back. Somehow directly or indirectly we are responsible for this unjust price hike and now, only we could prevent this open robberies, please add your comments or experiences and keep forwarding this email to all your known people, I am sure even if 25% of us realizes and acts accordingly, it could and would make lot of difference to us. (let’s try and prevent unjust price hike)
Save the IT People from Debts
* Property market  in Year 2001 -2004 was quiet Ok , People were able to buy Flats in reasonable rates .
*Year 2005 -2006 , Some of the well known builders  started the rates boom , flat which was at the cost of   Rs.900 Sq Ft  now became 2200 to 2800
  Q: Are there any additional facilities ?
 –> No  Same Scheme/Area , Flat sold at 10 Lacks Now selling at 25 Lacks .
  Q: Why Property increased so High ?
–> IT people competition to buy sweet home ..
  Q: Who is going to Benfit from this Property Boom ?
–> Only Builders and some of the Politicians  
  Q: How is the Bank’s support on Home Loans ?
–> Last Year , Bank gave the loan’s at flexible mimimum rate,Now Banks has sufficient number of customers ,
  (Trap) Slowly Banker’s increasing interst at % 0.5  every month . IT People Who bought house for 22 Lacks  for 20 Yrs , Now became 23 Yrs with raise of   0.5 %
  Q. How  some IT people can face the problems in Future ?
–> Companies are  Project Based , If  Projects are not there then People will not be there .
  Q. IT salaries are high in Market , How much actually IT-people getting in Hand ?  
–> People, Who bought house of  22 Lacks to 40 Lacks   They need to pay EMI  15,000 to 35,000  for 20 Yrs. If Bank keeps same interst rates. Suppose Salary is 35- 40 K  Per Month, 20K will be the EmI  
  Q. Is there any "Terms & Condition or Processes to increase rates" ?
  –> No , Depends on Buiders Greediness . Every builder follows the different strategies Builder sold one flat 1500 Per Sqft  in Morning and 1800 Per Sqft  in the Evening , There are no records maitained ..
  Q. Who made builders smart & greedy ?
–> Greedy IT people ..
No body is asking  , Flat was sold at 12 Lacks , Why now 24 Lacks ?
  Q. Is Corporation water & MESB available to all schemes ?
–> Some of the area don’t have the Corporation water at all , People surviving on Water Tankers.
     ** MESB  .. Under Table ,can be managed easily .
  Q. What will be the condition If We are not able to Clear the Loan ?
–>  Depends on individual capabilities
  Q. What wiil be the actual ‘area of living’ or carpet area if the builder proposes 1000 sft?
….> The actual carpet area will be 800-850 sft only. The common area is also included in the proposal. If two flats are in the same floor, then the builder cheats both the residents by collecting
  Q. How do Builders cheat buyers? … Let us see with a simple example
   Builder XXXX proposes a flat in a decent residential area.
   Rate ( Unit Price ) – Rs. 3500 sft.
   Registration          – Rs. 40 per sft.
   EB and drainage  –  Rs. 50,000
   Covered Car park  –  Rs. 1,25,000
   Corpus fund         –   Rs. 50000.
For a 1000 sft flat ( 850 sft carpet area ), the approximate cost will be Rs.37,65,000. In the same plot area ( measuring 2 grounds) the builder would have constructed 8 or 10 flats.
Let us see how a builder earns his profit
Total sales for the builder – 37, 65,000 *10 = 3, 76, 50000 ( 3.76 crores)
Cost of the land               –  Rs. 40 laks per ground
1) Total cost of the land                       – 80 lakhs for two ground     ——-   A
Total builtup area for 10 flats                – 10*1000 sft  = 10,000 sft
Construction cost per sft ( for normal specification) = Rs. 900 per sft
2) Total construction cost                           – 10,000 * 900 =  Rs. 90,00,000     ————– B
3) Other expenses for the builder                – Rs. 20 per sft  = Rs. 2,00,000      …………….. C
Total expenses for the builder  =  A+ B+C
                                                 =  Rs. 80,00,000 + Rs.90,00,000 + Rs. 2,00,00
                                                 =  Rs. 1,72,00,000 ( 1.72 crores approx)
Total Sales                               = Rs. 3.76 crores – Rs. 1.72 crores
Total profit of the builder          =  Rs. 2.04 crores.
Let us see the share of each resident
1. Cost of land  = Divided share among the other 10 residents
                        = Rs. 80,00,000 / 10
                         = Rs. 8,00,000
2. Construction cost = Rs. 900 * 1000
                                = Rs. 9,00,000
3. Other expenses   = Rs. 2,00,000 ( approx)
  Total                     = Rs. 19,00,000 ( Nineteen lakhs)
The total share for each resident is Rs. 19,00,000 ( Nineteen lakhs only )
but he pays Rs. 37.5 laks for the flat.
Q. How  We can stop Builders -Property Boom ?
     1) IT People  should think about buying flats for  atleast next 1-2 Yrs .
     2) Onces rates are reasonable , With some legal process get the Booking .
     3) Check Facilities, Convince, Road Approach, schools & Mainly co-operation water
     4)  Ask Questions  If I buy 1/2 BHK at 12 to 30 Lacks , Do I get reasale value in future?
     5) Today you are capable for paying 1000 -3000 maintains per month ? Will will be the same case
         after 20-30yrs after  retirement .
     6) In All, Don’t stretch more  to get the more & more loans other wise it will create unnecessary  
         pressure and tension .
     7) Read the above mentioned calculation carefully, when you are about to buy a flat pls keep this in mind.
* Please read this carefully
* Send it to all you know
* Act quickly
* Save them from debts.
* We can stop the inflation.
Author: unknown
Via a forwarded e-Mail
Categories: News and politics

Office and Politics

September 8, 2006 Leave a comment

The slimy world of office politics I start my day hearing someone crib about how his female boss and the superboss (boss’ boss) were discussing the colour of saris and shapes of earrings, and how he had to bear this unnecessary chatter. Someone responds: “A necessity if you want to grow within the organisation”, and I can’t help thinking about how office politics is an undesirable necessity. Politics is a sum total of human behaviour when they interact with each other, how they react and counter-react to each other. So, when there are a number of human beings dealing with each other, a political situation, or rather a series of political situations is inevitable. However, at the same time, politics has become to mean “dirty politics”, and it is to this effect that it is undesirable.

The boss orders a pizza, and your colleague collects it and delivers it to your boss, despite the fact that he was not required to do the same (a couple of peons were dozing off). Sounds familiar? Yes. You’re in the middle of a heated discussion with your boss, and your view is on the opposite pole of what your boss is saying. Suddenly, a colleague jumps in, supporting your boss, and the fat fool of your boss welcomes this support, sending your argument to tatters. Sounds familiar? OK, you are hereby certified as a victim of dirty office politics, inflicted on you by your colleague. Is it correct? What can you do about it? What are the options available to you?
As I mentioned at the very beginning, politics by itself is inevitable, it is the dirty politics that should be abhorred, and is not correct. I have seen good people leaving companies, having been unable to bear this burden of constant pain, and a regular stream of insults being thrown at them, while their “bootlicker” colleagues continue to rise above the corporate ladder. Figure this happening at all levels, and the situation shall not be very different from what we see around us – a flock of talented people leaving companies, switching from one job to another, getting increasingly frustrated initially by companies, then the whole corporate concept, and by their own lives, slowly becoming what they abhorred once, while at the same time, incompetent people continue to rise due to their skills of being politically correct, nodding their heads to whatever comes their way. Is this correct? Ask a I-swear-by-(dirty)-office-politics guy and he will tell you there’s nothing wrong about this – “I am paid by my boss”, “He is like this only”, “He does the same”, yadda, yadda, yadda. Yes, It has helped him rise, but just because it helps him and because everyone else around him does the same, doesn’t make him correct, or his politics.

Great, but you’re suffering in the office, your work life is affecting your personal and family life – in short, it satisfies you that you’re correct but you’re not going anywhere, your life is stagnant in doldrums. So, what can you do? Watch a game of wrestling, apply that high-impact DDT or a sick tombstone. OK, I was kidding. This is not a solution. So, what can you do? Leave your company? You did that 6 months back, because of the same reason, and nobody knows if the situation may turn out to be the same in the new place also.
What are the options available? A look at the various websites and the counsellor’s words will tell you that you should let your work speak for you, keep the colleague out of your work and your life, and ignore him to death. A little bit of politics is necessary and you need to up yourself but not at the expense of lowering anybody else, most importantly yourself – see, you haven’t sold yourself to anyone. These are really sound advice, I tell you, all tried-and-tested-and-applied effectively, across time and places, or so it seems. However, these are good and a sound measure to keep your career in check, but only if your boss is apolitical or, your colleague is not out and out dirty.

Via Hari from

Categories: News and politics