The long and winding road

For a few days, this blogger is giving this blog a well deserved (?) rest and is instead going to be blogging at a new place. If you go there, you'll make out why. Will be back here of course, but after a little while.

Hopefully, you'll journey with me and leave your kind comments there too.

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Wallowing in Nostalgia

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This blogger has reached a stage in life where he often turns nostalgic. Ahhh - the good old days ... Sigh ... Today it was nostalgia in ads. All from about 40 years ago. Colour television had not yet come to India (it came with the Asian Games of 1982). Black & White TVs were few and far between and it was perfectly OK to go to your neighbour's house to watch TV because they had a set and you didn't. Of course, there was only one channel - Doordarshan, the state TV.  Ads were primarily through cinema. Before the movie started, there would be a series of ads shown in full colour. Those days, you eagerly looked forward to the ads as much as you looked forward to the movie itself And then when TV came, these ads morphed to TV, but the largest reach was through cinemas for a long time. Of all the ads, there were  3 or 4  that almost everybody knew by heart. We could hum along, skip along to each of them. First Gold Spot. When Coca Coal exited India in 1977, a local entre...
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Barbarians at the Gate II

Barbarians at the Gate is the name of the scintillating book that detailed the leveraged buyout of RJR Nabisco in the mid 1980s. It was made into a movie as well and for a long time it was the biggest M&A transaction in the world. I strongly recommend the book, if you have an interest in business. ( or if you like thrillers !)   Take 2 seems to be happening in the goings on with Dell . The resemblance to what happened with RJR Nabisco is uncanny.   The Dell story started with Michael Dell, the founder teaming up with Silver Lake, a private equity firm,  and announcing a bid to take Dell private at $13.65 a share (a 25% premium over the closing price of $ 10.88 prior to this announcement). When rumours of this started to surface in January, people thought it was not a doable deal. Dell after all is a struggling PC maker in an industry which is declining with the onslaught of tablets. In any case its a fiercely competitive and somewhat commoditized industry. Whoever wants to pay top...
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Make in India

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India is an outlier in terms of economic development. Traditional economic theory suggests that in the beginning all economies are dominated by agriculture. As the economy develops, manufacturing becomes the predominant sector. Further up in the stage of development comes services. The linear development is the model for all countries, including China. The one exception is India. India has never been a manufacturing economy and has leapfrogged to becoming a service economy. A full 55% of India's economy is the service sector. This is all fine, but for one problem. Where are the jobs for the teeming millions of Indians going to come from ? You need a big manufacturing base to absorb the youth coming into the job market every year. India has to create 12 m new jobs every year. Hence the Make in India need. India actually has a huge competitive advantage now - it is actually cheaper as a manufacturing destination than China. China has become expensive, but retains its predominan...
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