RE:For Success
by ABC on Apr 24, 2008 10:52 AM Permalink
THE stock of unoccupied properties with real estate developers in the main technology hubs of Bangalore and Chennai is mounting and indications are that their problems will only get worse as software companies head towards greener pastures. In Bangalore%u2019s Whitefield suburb, once a magnet for IT firms, supply outstripped absorption by 300,000 sq ft in 2007 and about 8% of the developed area remained vacant, data from real estate consultancy Cushman & Wakefield (C&W) show. Prices are stagnating and the situation is deteriorating. In the first three months of 2008, the demandsupply mismatch was more than a million sq ft. If Whitefield is in a bad way, the Old Mahabalipuram Road (OMR) technology cluster on the outskirts of Chennai is deep in the doldrums, with just nine deals in the whole of 2007. Of the four million sq ft that came into the market last year, only 1.7 million sq ft were absorbed even as rentals fell by 18% and the vacancy rate was up to 11%, again according to C&W data. Most of the more than half a million sq ft that entered the market between January and March have gone abegging. Property developers%u2019 greed must take a major portion of the blame for the current plight, even insiders say. %u201CThe key factor contributing to the oversupply is the consistent overpricing of projects in both micromarkets. Developers who priced projects at Rs 4,000 per sq ft were unknowingly killing their golden goose in a sense,%u201D Shriram Properties managing director M Murali sai
Indian comapnies need to understand that if they continue to exploit the employees, dissent and attrition will grow. This indirectly leads to costs and if the business is lost, the employee may still live without the pittance you pay him but how will YOU manage the 20 lakh pa lifestyle???
Another thing is - STOP FUDGING. If a project should 100 hrs, bid with that. Don't bid with 60 hrs. You may get the project - then you may ask employees to do overtime (without actually filling the timesheet). So, while the work gets done in 120 hrs, you still show that you have done it in 60. Yout get awards and maybe more projects and this culture continues for a while. But discontent is simmering. Obviously, people who are sacrificing their lives for YOUR accolades need something in return. They will definitely get angry when you say - hey, you worked for only 60 hrs, so we cannot give you a good increment. They will leave. I know, with India's population, you can get 2 people for that cost. But the culture continues and those 2 people will also get angry some day. But what about expertise? Ok, the new 2 guys will also build the expertise by working unacknowledged overtime. This cycle will also continue until you realise that YOU can also be replaced by 2 younger, hungrier people.
RE:Advice!
by Harsha K on Apr 26, 2008 06:25 PM Permalink
Exploitation of Indian IT labor is a myth. IT engineers are highly paid by the Indian standards, especially for the skills they have.
If you check the amount of learning a Doctor, CA, BIOTech/Biochem professional or even simple pure science professionals need to do, as versus IT. Most of them take more than a decade or more to start earning at a scale of 3 year experienced IT professional.
When people talk about IT companies exploiting them, they compare it with the money they make. That's a reward that came with the risk they took in setting up shops abroad and for being enterprising.
Attrition in the short term may benefit an employee, but in longer term, he is likely to find his growth avenues closed. Most guys who grew to highest positions in their company did so, on the strength of their loyalty to the company.
RE:Advice!
by Hari Narayanan on Apr 28, 2008 04:22 AM Permalink
You have no idea about the exploitation in the IT sector. Most(in fact ALL) of India's competetivness will vaporize if the employees are paid for the actual number of hours (even at 20% reduced salary). How many employees of TCS, WIPRO and SATYAM are happy. Most endure the exploitation to get themselves a foothold in the US. As far as growth goes, check how many experienced employees left TCS (15 - 25 yrs) because they were stagnant. Those who moved forward were those who could toe the management line and continue the policies that add profits but exploit employees. You are so out in the dark!
Its impossible to beat inflation until the basic needs like Food, Health, Education, Home, Transportation are Equally Distributed to the people of country like a person cannot have two I-Card or two PanCards. The rules to be followed by every citizen Equally no matter he is son of a politician or a poor man.
RE:RE:Make Lalu as finance minister
by NoManLand on Apr 23, 2008 11:11 PM Permalink
He already CM for Bihar. Everybody know What magic Lalu done their ?
RE:Make Lalu as finance minister
by Mehbub Singh on Apr 24, 2008 12:19 AM Permalink
Bihar is Bihar and needs to be governed like a fiefdom. Look at Mr. Yadav's performance at Railway ministry. Make him the PM.
RE:Make Lalu as finance minister
by Kaushik Das on Apr 24, 2008 06:30 AM Permalink
mr singh, can you please elaborate what greatness there is in his running of railways. for all the talk of profit, I fail to understand why the railways needs to generate profits. It is a service organisation provided by the govt.
Even if you still talk in terms of profits, do you realise that: 1. stations are less clean than earlier - less costs. 2. in case of anything missing like a bedsheet, the poor staff pays for it from his pocket - no cost to railways. 3. lack of cleanliness in trains - even AC bogies - rats, flies, lizards, etc are common sightings - no cost to railways. 4. they charge service charges (40 rupees) for e-tickets. unfair profiteering. 5. they charge you extra for cancellation of tickets. unfair profiteering. 6. they charge you extra if you book tickets from any other than the origin station (which you obviously would if you book return tickets). unfair profiteering. 7. coolies and mafia are ruling the roost. no cost / control from the joker. 8. freight charges have been increased - unfair profiteering. 9. no let up in corruption among TTEs. no cost to mr joker. 10. major accidents - mr joker says that he is not responsible. Mr rahu is responsible.
If the above is considered 'performance' by you, i hope you live in laloolands forever.
RE:WHAT's SO EYE OPNEING
by Joe D on Apr 23, 2008 08:43 PM Permalink
That's a good question....the only "eye-opener" is that there's something called Personalfn.com...I've said it before, and i'm saying it again....guys at Personalfn.com need to be a little more altruistic and a little less self interested. BTW, it will makes more financial sense...it will earn you a lot of good will and a lot more business. Try it out...
RE:WHAT's SO EYE OPNEING
by Poonam Mishra on Apr 24, 2008 10:21 AM Permalink
dont know about personalfn, but you certainly need to get your eyes checked. i have read the slideshow and i did not find 'self interest' that you are talking about. this slideshow is as objective as any other. atleast rediff does not have a problem with it.
LOOKING AT THE PRESENT SITUATION YOU SAY INFLATION IS 7.14. WHERE AS EVERY MALL IS PACKED, CINEMA THEATERS BIG/SMALL ARE FULL. IPL/ICL MATCHES WITH HIGH TICKET RATE ARE FULL. IPL PLAYERS,ADVERTISEMENT MODELS,SHOW CONDUCTING HOSTS INCLUDING FILM STARS ARE PAID IN CRORES. I STILL FAIL TO UNDERSTAND WHAT IS INFLATION. CAN SOME BUDDIJIVI CAN GUIDE US.
RE:WHAT IS INFLATION
by Indian Indian on Apr 23, 2008 08:14 PM Permalink
Inflation is a rise in the general level of prices over time. It may also refer to a rise in the prices of a specific set of goods or services. In either case, it is measured as the percentage rate of change of a price index
RE:WHAT IS INFLATION
by Welcome on Apr 23, 2008 09:16 PM Permalink
Indian, price index is not the same as inflation. Change in price is the effect of inflation but not the cause. Mohandas Pai, keep researching and some day you'll know the answer. BTW, how is Infi. doing?
RE:WHAT IS INFLATION
by Kaushik Das on Apr 24, 2008 06:34 AM Permalink
change in price IS a cause of inflation - which is why it is used to measure inflation.
Inflation is just a hypothetical term to denote change in prices. The price change is still the ACTUAL thing. Inflation is just a term to denote a specific measurement of the price change.
RE:WHAT IS INFLATION
by Indian Indian on Apr 24, 2008 01:53 AM Permalink
No, you didn't get my point, Price index is never same as inflation. what I mean is, inflation will be measured based on % change of Price Index. Whatever you said is correct, Change in price index is never a root cause/cause of inflation. Anyway Mohandas see the below:
In Simple Terms:
What is Inflation: In a simeple term, inflation is nothing but increase in the price of goods and services over a period of time.
How to Measure: To measure how much % of price changed for a particular Good/Service for a particular period of time (lets say 2006-2007), will be known when we consider Price Index of that particualar Good / Service for that particula period of time (2006-2007).
Good or Bad: a small amount of infaltion must be there in any economy to progress. Otherwise, there is a chance of Deflation (which is opposite to inflation, ie decrease in the prices) If we consider one problem with deflation, then you will understand why inflation is required for aconomy, For instance, XYZ co., is manufacturing fans for 100Rs. each and selling it for 105Rs. In deflation, as said, the price is decreased, if the fan price falls by 6Rs. XYZ company has to sell it for 99Rs. ie with loss of Rs.1. So, in a overall effect XYZ company will make losses and will hesitate to continue his business as deflation is there, which is not good for economy. So a small amount of inflation shuold be there. But high inflation is also too dangerous, as you may be experiencing the Fuel/ Food price in indi
RE:RE:WHAT IS INFLATION
by Kaushik Das on Apr 24, 2008 06:45 AM Permalink
the example you give is not correct and is not about deflation.
In fact, deflation may also be good for the economy as the aforementioned XYZ company will have more value for their 99 rupees (eq to 105 rupees present) than their 100 rupees present cost. Since everything else will also be cheaper, XYZ co will be able to buy more for that 99 INR although on paper, they can show losses just because profit/loss calc does not take inflation into consideration and is based on absolute figures.
Too much inflation is not good for the economy as you can see from the real estate sector where we say prices are inflated. This is leading to costs of companies going up and India is well on the way of losing a lot of business as given in this article itself.
A little inflation is good in the sense that when you park your money in the bank, you expect some earning. Similarly, banks would also expect earnings on loans. Otherwise, financial institutions cannot operate. Thus, inflation is good for financial institutions.
However, inflation is very bad for retired people, etc, who have a fixed sum as assets and that fixed sum loses its value each day because what they could get for 100 rupees earlier costs maybe 160 rupees today.
When my father started his career many decades back, he used to earn 140 rupees each month. however, with that 'small' amount, he could buy a lot of things. unfortunately, his salary at the time of retirement was several times more but he struggled to buy the same.
RE:RE:RE:WHAT IS INFLATION
by Kaushik Das on Apr 24, 2008 06:53 AM Permalink
also, consider this: Since my father's initial savings, PF, etc, were calculated based on the 140 rupees scale, there were cases where bonuses were declared many years later to be paid in arrears. However, such bonuses would also be based on the 140 rupees scale and would be a pittance when he received it because by the time he received it, it's value had diminished.
All his savings, insurances, investments in his early career were calcualted based on the 140 rupees scale. Therefore, the returns were 'small'. With low inflation, the returns would have held some value. But due to high inflation, almost all of his savings and investments from early career became a pittance. You can do the calculations. A person 10-20 years junior would also have had similar investment returns / savings because his investments would be based on a few thousand rupees each month while for those 10-20 years of his 'seniority', my father's savings, based on a few 100 rupees, would not yield much.
RE:WHAT IS INFLATION
by Indian Indian on Apr 24, 2008 07:28 AM Permalink
Yeah, inflation, deflation have their own good/bads in the economy and will have poly faces. One can argue as good and/or bad. I agree with you. Coming to my example, i was just trying to give a simple example as Mohan seems to be new to these terms. :)
RE:WHAT IS INFLATION
by Indian Indian on Apr 24, 2008 02:18 AM Permalink
Mohandas, As You are saying "EVERY MALL IS PACKED, CINEMA THEATERS BIG/SMALL ARE FULL. IPL/ICL MATCHES WITH HIGH TICKET RATE ARE FULL. IPL PLAYERS,ADVERTISEMENT MODELS,SHOW CONDUCTING HOSTS INCLUDING FILM STARS ARE PAID IN CRORES." ---> as i mentioned the money supply in india is more (than requried at present) as one of the reaon for inflation. thats why you are able to see so much happenings around you, people are speing money like white papers because money supply is more, and everybody has more money, they are spending it. The finest example of present day's world for high infaltion is Zimbabwe. its present day's inflation is 1,64,900.3%, its highest currency note is 50 000 000$. 1US Dollaer is equal to $7.1 million Zim. dollars now. So if want to buy a candy in zimbabwe walmart (just for example), you needt o carry 7.1million zim dollar notes, :) looks funny isn't it. We have to carry in big lorry :))
