Very nice namma chennai captain
INDIA IPPON DESU
Tuesday, April 29, 2008
Friday, April 25, 2008
NEIL MAXWELL's office at the Mohali Stadium in the Punjab region of northwest India has panoramic views of the Himalayas.
What was a swamp with deep ravines not so long ago is now one of India's best cricket stadiums.
But Maxwell hasn't had any spare time to take in the scenery in his new role as chief executive of the Kings XI Punjab, one of eight franchises in the fledgling Indian Premier League.
"What we're trying to do in two months would normally take 12," Maxwell said.
"The business plan on what IPL is built on is a sound one, but it will take time to bed down.
"Granted a few things have fallen through the cracks, but people back home have got to remember IPL is one of the most exciting ventures in world cricket in the last 30 years.
"When you are building an asset, it does take time to build the brand.
"We are filling the stands and building on the fan base."
Maxwell, a director of the Sydney-based Insite Management Group, is no stranger to the subcontinent.
This is his 53rd visit in 14 years.
But what is different this time around is he has moved his entire family, wife Rachel and three pre-school children, to the city of Chandigarh.
Where once the Maxwell children had a leafy backyard at one of Sydney's better addresses on the north shore to play, home now for the duration of the tournament is a modest two bedroom suite at the Taj Hotel, the only four-star rated establishment in all of the Punjab.
"The temperature outside right now is 40C and it hasn't been easy on Rachel or the children. This isn't the most kid-friendly place in the world," Maxwell said.
"It has been hectic. My normal working day starts at 9.30 in the morning and I don't get home much before 11.30 at night on match days.
"This tournament has happened so very, very quickly that the work at times has been quite draining, but it was too good an opportunity to knock back."
Maxwell says he expects the Punjab franchise to break square financially this year and show a profit in year two having been told there will be no new franchises established in the near future.
"Each of the franchises receives 80 per cent of the broadcast revenue, 60 per cent of the sponsorship, and all gate revenue," Maxwell said.
"I'm not being unrealistic in saying that, but with time and effort it will be achievable."
Maxwell has assembled a fair sprinkling of Australian talent at the Kings XI Punjab, coached by former Test and West Australian all-rounder Tom Moody.
The playing roster includes Test quick Brett Lee, Simon Katich, James Hopes, Luke Pomersbach and Shaun Marsh.
He's also lured Cricket NSW team physiotherapist Paddy Farhart and video analyst Andrew Ware.
Meanwhile, the Australian Cricketers Association has called on Cricket Australia to develop a Twenty20 competition along similar lines to the Indian Premier League. Paul Marsh, the ACA's chief executive, also in India to monitor the opening week of the IPL, said the expansion of the concept could follow soccer's model.
"The Indian league will be the Premier League, and then you have the Australian league as the second league, or even the English league," Marsh said.
"Over time players could go and play in one of these leagues and then you'll have a situation where the ICC could license each league, get a return and distribute it to each of these boards."
The initial success of the IPL has other countries trying to think of ways to benefit financially from the Twenty20 concept.
Support is also growing for the ICC to implement a set time each year for the IPL so it doesn't overlap with Test and one-day internationals.
"We need to find this window and then find how to get a return from it for each of the boards," Marsh said.
"We might find a window and it opens a door for a whole lot of these leagues."
- Additional reporting: Agencies
What was a swamp with deep ravines not so long ago is now one of India's best cricket stadiums.
But Maxwell hasn't had any spare time to take in the scenery in his new role as chief executive of the Kings XI Punjab, one of eight franchises in the fledgling Indian Premier League.
"What we're trying to do in two months would normally take 12," Maxwell said.
"The business plan on what IPL is built on is a sound one, but it will take time to bed down.
"Granted a few things have fallen through the cracks, but people back home have got to remember IPL is one of the most exciting ventures in world cricket in the last 30 years.
"When you are building an asset, it does take time to build the brand.
"We are filling the stands and building on the fan base."
Maxwell, a director of the Sydney-based Insite Management Group, is no stranger to the subcontinent.
This is his 53rd visit in 14 years.
But what is different this time around is he has moved his entire family, wife Rachel and three pre-school children, to the city of Chandigarh.
Where once the Maxwell children had a leafy backyard at one of Sydney's better addresses on the north shore to play, home now for the duration of the tournament is a modest two bedroom suite at the Taj Hotel, the only four-star rated establishment in all of the Punjab.
"The temperature outside right now is 40C and it hasn't been easy on Rachel or the children. This isn't the most kid-friendly place in the world," Maxwell said.
"It has been hectic. My normal working day starts at 9.30 in the morning and I don't get home much before 11.30 at night on match days.
"This tournament has happened so very, very quickly that the work at times has been quite draining, but it was too good an opportunity to knock back."
Maxwell says he expects the Punjab franchise to break square financially this year and show a profit in year two having been told there will be no new franchises established in the near future.
"Each of the franchises receives 80 per cent of the broadcast revenue, 60 per cent of the sponsorship, and all gate revenue," Maxwell said.
"I'm not being unrealistic in saying that, but with time and effort it will be achievable."
Maxwell has assembled a fair sprinkling of Australian talent at the Kings XI Punjab, coached by former Test and West Australian all-rounder Tom Moody.
The playing roster includes Test quick Brett Lee, Simon Katich, James Hopes, Luke Pomersbach and Shaun Marsh.
He's also lured Cricket NSW team physiotherapist Paddy Farhart and video analyst Andrew Ware.
Meanwhile, the Australian Cricketers Association has called on Cricket Australia to develop a Twenty20 competition along similar lines to the Indian Premier League. Paul Marsh, the ACA's chief executive, also in India to monitor the opening week of the IPL, said the expansion of the concept could follow soccer's model.
"The Indian league will be the Premier League, and then you have the Australian league as the second league, or even the English league," Marsh said.
"Over time players could go and play in one of these leagues and then you'll have a situation where the ICC could license each league, get a return and distribute it to each of these boards."
The initial success of the IPL has other countries trying to think of ways to benefit financially from the Twenty20 concept.
Support is also growing for the ICC to implement a set time each year for the IPL so it doesn't overlap with Test and one-day internationals.
"We need to find this window and then find how to get a return from it for each of the boards," Marsh said.
"We might find a window and it opens a door for a whole lot of these leagues."
- Additional reporting: Agencies
Harbhajan & sreesanth
HARBHAJAN SINGH is alleged to have slapped his Indian team-mate Sreesanth yesterday after the latest match in the Indian Premier League.
Punjab Kings fast bowler Sreesanth was left sobbing after the bust-up with Mumbai Indians skipper Harbhajan in Mohali. It seems Sreesanth made a comment and the fiery spinner responded.
Punjab captain Yuvraj Singh said: “This is really an ugly incident. You do not want to see such things off the field, especially after a win.”
Kings beat Indians by 66 runs.
Pollocks last moments
Punjab Kings fast bowler Sreesanth was left sobbing after the bust-up with Mumbai Indians skipper Harbhajan in Mohali. It seems Sreesanth made a comment and the fiery spinner responded.
Punjab captain Yuvraj Singh said: “This is really an ugly incident. You do not want to see such things off the field, especially after a win.”
Kings beat Indians by 66 runs.
Pollocks last moments
Wednesday, April 09, 2008
More take on the tata takeover
April 3 (Bloomberg) -- Count investors among the wary in regard to Tata Motors Ltd.'s $2.3 billion agreement to buy Jaguar and Land Rover from Ford Motor Co., announced last week.
Starting last October, when Mumbai-based Tata Motors first surfaced as the leading bidder for Ford's U.K. auto brands, Tata common shares have fallen about 25 percent so far, more than the 14 percent drop for the Bombay Stock Exchange's main index and more than the 22 percent drop for the Bloomberg Europe Autos Index.
Tata says it will have to borrow heavily -- a $3 billion bridge loan for 15 months -- and will sell assets to repay the debt and to provide funds for costly investments in new models, such as the $2,500 Nano microcar it plans to start selling in India later this year. The carmaker's five-year credit-default swaps, reflecting the rising default risk of the company's bonds, have more than doubled in price since Ford named it as the preferred bidder on Jan. 3.
A key question, beyond finances, is whether the Indian conglomerate's lack of experience in the global luxury-car arena will hobble its collaboration with Jaguar-Land Rover's British management. Besides money, Tata doesn't bring much to the party, as Volkswagen AG did when it contributed the engine block and other parts for the Bentley Continental GT after buying the Bentley brand.
We Know Best
Ford looked as if it had everything when it bought Jag. But its top-down ownership strategy failed because the automaker tried to inflate sales by palming off mass-market cars at luxury prices. Ford's losses at Jaguar since buying it in the late 1980s, so far undisclosed, might be $30 billion or more, according to estimates of some outside analysts.
Over almost two decades the Dearborn, Michigan, automaker tried to push Jaguar's unit sales toward 200,000 annually by designing pedestrian models such as the X-Type and S-Type that weren't special in terms of design or features, even though they carried fancy price tags and competed against Lexus, BMW and Mercedes.
After having to discount the X-Type and S-Type, Jaguar's image was cheapened, hurting sales of its bigger, more expensive models such as the XKR coupe that costs as much as $92,000. Jaguar unit sales last year were roughly 60,000 worldwide; Land Rover sold about 225,000.
Off-Road Winner
Ford did well with Land Rover, keeping it profitable, though the automaker never could forge a comprehensive strategy for luxury vehicles that also included Lincoln, Volvo and Aston- Martin. Ford's chief executive, Alan Mulally, who took office 18 months ago, decided to streamline luxury marketing around Lincoln and raise cash, first by selling Aston-Martin and then the remaining two English names.
Tata Motors, posting only one annual deficit since its founding in 1945, has assembled trucks for Mercedes-Benz and slowly developed its own models, first trucks and utility vehicles and later cars. Among them is one the company claims to be India's ``first full indigenous passenger car'' in 1998, the subcompact Indica. The Tata family's industrial empire, by contrast, has global interests as varied as steel and tea.
In all likelihood Tata will allow Jaguar and Land Rover to pursue their current business plans. ``The Tata Group has done a lot to say they will pursue a more or less hands-off approach,'' said Simon Warr, a company spokesman in Coventry, England. He says operations of the two car lines now are profitable.
Heir Apparent
Jaguar's first big test is its replacement for the S-Type, the XF sedan, introduced in the last month as a competitor to the BMW 5-Series. Depending on options, XF is priced between $50,000 and $62,000.
Edmunds.com, an automotive Web site, gave XF a positive review, complimenting its ``refined ride, sporty handling, apart-from-the-pack interior and exterior design (and) powerful performance from V-8s.''
Tata could do worse than to study how Volkswagen bought and revived the failing Bentley brand in 1998, giving it just enough support in terms of money and technology, while letting British management take care of business.
David Reuter, a Bentley spokesman in the U.S., said 2006 was the first year for which VW has disclosed any financial information about Bentley's performance, reflecting a profit of ``several million euros.'' What VW doesn't disclose -- and what Tata soon will learn -- is how many billions VW and other makers of luxury cars must invest to stay current on myriad technologies in order to keep pace with new regulations as well as Lexus, Mercedes, BMW, Porsche and others.
The prospect of such outlays is at least one reason so many holders of Tata stock and bonds have voted with their feet.
Yet the risk of a catastrophe with Jaguar and Land Rover is one that Tata must accept if it intends to be a worldwide automaker instead of a local one. Tata has a golden opportunity to gain knowledge and expertise in world luxury markets.
Absent such expertise, the Indian company could one day become the bauble of some other automaker trying to capitalize on the rising Indian car market.
(Doron Levin is a Bloomberg News columnist. The opinions expressed are his own.)
To contact the writer of this column: Doron Levin in Southfield, Michigan, at dlevin5@bloomberg.net
Last Updated: April 3, 2008 00:01 EDT
Starting last October, when Mumbai-based Tata Motors first surfaced as the leading bidder for Ford's U.K. auto brands, Tata common shares have fallen about 25 percent so far, more than the 14 percent drop for the Bombay Stock Exchange's main index and more than the 22 percent drop for the Bloomberg Europe Autos Index.
Tata says it will have to borrow heavily -- a $3 billion bridge loan for 15 months -- and will sell assets to repay the debt and to provide funds for costly investments in new models, such as the $2,500 Nano microcar it plans to start selling in India later this year. The carmaker's five-year credit-default swaps, reflecting the rising default risk of the company's bonds, have more than doubled in price since Ford named it as the preferred bidder on Jan. 3.
A key question, beyond finances, is whether the Indian conglomerate's lack of experience in the global luxury-car arena will hobble its collaboration with Jaguar-Land Rover's British management. Besides money, Tata doesn't bring much to the party, as Volkswagen AG did when it contributed the engine block and other parts for the Bentley Continental GT after buying the Bentley brand.
We Know Best
Ford looked as if it had everything when it bought Jag. But its top-down ownership strategy failed because the automaker tried to inflate sales by palming off mass-market cars at luxury prices. Ford's losses at Jaguar since buying it in the late 1980s, so far undisclosed, might be $30 billion or more, according to estimates of some outside analysts.
Over almost two decades the Dearborn, Michigan, automaker tried to push Jaguar's unit sales toward 200,000 annually by designing pedestrian models such as the X-Type and S-Type that weren't special in terms of design or features, even though they carried fancy price tags and competed against Lexus, BMW and Mercedes.
After having to discount the X-Type and S-Type, Jaguar's image was cheapened, hurting sales of its bigger, more expensive models such as the XKR coupe that costs as much as $92,000. Jaguar unit sales last year were roughly 60,000 worldwide; Land Rover sold about 225,000.
Off-Road Winner
Ford did well with Land Rover, keeping it profitable, though the automaker never could forge a comprehensive strategy for luxury vehicles that also included Lincoln, Volvo and Aston- Martin. Ford's chief executive, Alan Mulally, who took office 18 months ago, decided to streamline luxury marketing around Lincoln and raise cash, first by selling Aston-Martin and then the remaining two English names.
Tata Motors, posting only one annual deficit since its founding in 1945, has assembled trucks for Mercedes-Benz and slowly developed its own models, first trucks and utility vehicles and later cars. Among them is one the company claims to be India's ``first full indigenous passenger car'' in 1998, the subcompact Indica. The Tata family's industrial empire, by contrast, has global interests as varied as steel and tea.
In all likelihood Tata will allow Jaguar and Land Rover to pursue their current business plans. ``The Tata Group has done a lot to say they will pursue a more or less hands-off approach,'' said Simon Warr, a company spokesman in Coventry, England. He says operations of the two car lines now are profitable.
Heir Apparent
Jaguar's first big test is its replacement for the S-Type, the XF sedan, introduced in the last month as a competitor to the BMW 5-Series. Depending on options, XF is priced between $50,000 and $62,000.
Edmunds.com, an automotive Web site, gave XF a positive review, complimenting its ``refined ride, sporty handling, apart-from-the-pack interior and exterior design (and) powerful performance from V-8s.''
Tata could do worse than to study how Volkswagen bought and revived the failing Bentley brand in 1998, giving it just enough support in terms of money and technology, while letting British management take care of business.
David Reuter, a Bentley spokesman in the U.S., said 2006 was the first year for which VW has disclosed any financial information about Bentley's performance, reflecting a profit of ``several million euros.'' What VW doesn't disclose -- and what Tata soon will learn -- is how many billions VW and other makers of luxury cars must invest to stay current on myriad technologies in order to keep pace with new regulations as well as Lexus, Mercedes, BMW, Porsche and others.
The prospect of such outlays is at least one reason so many holders of Tata stock and bonds have voted with their feet.
Yet the risk of a catastrophe with Jaguar and Land Rover is one that Tata must accept if it intends to be a worldwide automaker instead of a local one. Tata has a golden opportunity to gain knowledge and expertise in world luxury markets.
Absent such expertise, the Indian company could one day become the bauble of some other automaker trying to capitalize on the rising Indian car market.
(Doron Levin is a Bloomberg News columnist. The opinions expressed are his own.)
To contact the writer of this column: Doron Levin in Southfield, Michigan, at dlevin5@bloomberg.net
Last Updated: April 3, 2008 00:01 EDT
More take on the tata takeover
April 3 (Bloomberg) -- Count investors among the wary in regard to Tata Motors Ltd.'s $2.3 billion agreement to buy Jaguar and Land Rover from Ford Motor Co., announced last week.
Starting last October, when Mumbai-based Tata Motors first surfaced as the leading bidder for Ford's U.K. auto brands, Tata common shares have fallen about 25 percent so far, more than the 14 percent drop for the Bombay Stock Exchange's main index and more than the 22 percent drop for the Bloomberg Europe Autos Index.
Tata says it will have to borrow heavily -- a $3 billion bridge loan for 15 months -- and will sell assets to repay the debt and to provide funds for costly investments in new models, such as the $2,500 Nano microcar it plans to start selling in India later this year. The carmaker's five-year credit-default swaps, reflecting the rising default risk of the company's bonds, have more than doubled in price since Ford named it as the preferred bidder on Jan. 3.
A key question, beyond finances, is whether the Indian conglomerate's lack of experience in the global luxury-car arena will hobble its collaboration with Jaguar-Land Rover's British management. Besides money, Tata doesn't bring much to the party, as Volkswagen AG did when it contributed the engine block and other parts for the Bentley Continental GT after buying the Bentley brand.
We Know Best
Ford looked as if it had everything when it bought Jag. But its top-down ownership strategy failed because the automaker tried to inflate sales by palming off mass-market cars at luxury prices. Ford's losses at Jaguar since buying it in the late 1980s, so far undisclosed, might be $30 billion or more, according to estimates of some outside analysts.
Over almost two decades the Dearborn, Michigan, automaker tried to push Jaguar's unit sales toward 200,000 annually by designing pedestrian models such as the X-Type and S-Type that weren't special in terms of design or features, even though they carried fancy price tags and competed against Lexus, BMW and Mercedes.
After having to discount the X-Type and S-Type, Jaguar's image was cheapened, hurting sales of its bigger, more expensive models such as the XKR coupe that costs as much as $92,000. Jaguar unit sales last year were roughly 60,000 worldwide; Land Rover sold about 225,000.
Off-Road Winner
Ford did well with Land Rover, keeping it profitable, though the automaker never could forge a comprehensive strategy for luxury vehicles that also included Lincoln, Volvo and Aston- Martin. Ford's chief executive, Alan Mulally, who took office 18 months ago, decided to streamline luxury marketing around Lincoln and raise cash, first by selling Aston-Martin and then the remaining two English names.
Tata Motors, posting only one annual deficit since its founding in 1945, has assembled trucks for Mercedes-Benz and slowly developed its own models, first trucks and utility vehicles and later cars. Among them is one the company claims to be India's ``first full indigenous passenger car'' in 1998, the subcompact Indica. The Tata family's industrial empire, by contrast, has global interests as varied as steel and tea.
In all likelihood Tata will allow Jaguar and Land Rover to pursue their current business plans. ``The Tata Group has done a lot to say they will pursue a more or less hands-off approach,'' said Simon Warr, a company spokesman in Coventry, England. He says operations of the two car lines now are profitable.
Heir Apparent
Jaguar's first big test is its replacement for the S-Type, the XF sedan, introduced in the last month as a competitor to the BMW 5-Series. Depending on options, XF is priced between $50,000 and $62,000.
Edmunds.com, an automotive Web site, gave XF a positive review, complimenting its ``refined ride, sporty handling, apart-from-the-pack interior and exterior design (and) powerful performance from V-8s.''
Tata could do worse than to study how Volkswagen bought and revived the failing Bentley brand in 1998, giving it just enough support in terms of money and technology, while letting British management take care of business.
David Reuter, a Bentley spokesman in the U.S., said 2006 was the first year for which VW has disclosed any financial information about Bentley's performance, reflecting a profit of ``several million euros.'' What VW doesn't disclose -- and what Tata soon will learn -- is how many billions VW and other makers of luxury cars must invest to stay current on myriad technologies in order to keep pace with new regulations as well as Lexus, Mercedes, BMW, Porsche and others.
The prospect of such outlays is at least one reason so many holders of Tata stock and bonds have voted with their feet.
Yet the risk of a catastrophe with Jaguar and Land Rover is one that Tata must accept if it intends to be a worldwide automaker instead of a local one. Tata has a golden opportunity to gain knowledge and expertise in world luxury markets.
Absent such expertise, the Indian company could one day become the bauble of some other automaker trying to capitalize on the rising Indian car market.
(Doron Levin is a Bloomberg News columnist. The opinions expressed are his own.)
To contact the writer of this column: Doron Levin in Southfield, Michigan, at dlevin5@bloomberg.net
Last Updated: April 3, 2008 00:01 EDT
Starting last October, when Mumbai-based Tata Motors first surfaced as the leading bidder for Ford's U.K. auto brands, Tata common shares have fallen about 25 percent so far, more than the 14 percent drop for the Bombay Stock Exchange's main index and more than the 22 percent drop for the Bloomberg Europe Autos Index.
Tata says it will have to borrow heavily -- a $3 billion bridge loan for 15 months -- and will sell assets to repay the debt and to provide funds for costly investments in new models, such as the $2,500 Nano microcar it plans to start selling in India later this year. The carmaker's five-year credit-default swaps, reflecting the rising default risk of the company's bonds, have more than doubled in price since Ford named it as the preferred bidder on Jan. 3.
A key question, beyond finances, is whether the Indian conglomerate's lack of experience in the global luxury-car arena will hobble its collaboration with Jaguar-Land Rover's British management. Besides money, Tata doesn't bring much to the party, as Volkswagen AG did when it contributed the engine block and other parts for the Bentley Continental GT after buying the Bentley brand.
We Know Best
Ford looked as if it had everything when it bought Jag. But its top-down ownership strategy failed because the automaker tried to inflate sales by palming off mass-market cars at luxury prices. Ford's losses at Jaguar since buying it in the late 1980s, so far undisclosed, might be $30 billion or more, according to estimates of some outside analysts.
Over almost two decades the Dearborn, Michigan, automaker tried to push Jaguar's unit sales toward 200,000 annually by designing pedestrian models such as the X-Type and S-Type that weren't special in terms of design or features, even though they carried fancy price tags and competed against Lexus, BMW and Mercedes.
After having to discount the X-Type and S-Type, Jaguar's image was cheapened, hurting sales of its bigger, more expensive models such as the XKR coupe that costs as much as $92,000. Jaguar unit sales last year were roughly 60,000 worldwide; Land Rover sold about 225,000.
Off-Road Winner
Ford did well with Land Rover, keeping it profitable, though the automaker never could forge a comprehensive strategy for luxury vehicles that also included Lincoln, Volvo and Aston- Martin. Ford's chief executive, Alan Mulally, who took office 18 months ago, decided to streamline luxury marketing around Lincoln and raise cash, first by selling Aston-Martin and then the remaining two English names.
Tata Motors, posting only one annual deficit since its founding in 1945, has assembled trucks for Mercedes-Benz and slowly developed its own models, first trucks and utility vehicles and later cars. Among them is one the company claims to be India's ``first full indigenous passenger car'' in 1998, the subcompact Indica. The Tata family's industrial empire, by contrast, has global interests as varied as steel and tea.
In all likelihood Tata will allow Jaguar and Land Rover to pursue their current business plans. ``The Tata Group has done a lot to say they will pursue a more or less hands-off approach,'' said Simon Warr, a company spokesman in Coventry, England. He says operations of the two car lines now are profitable.
Heir Apparent
Jaguar's first big test is its replacement for the S-Type, the XF sedan, introduced in the last month as a competitor to the BMW 5-Series. Depending on options, XF is priced between $50,000 and $62,000.
Edmunds.com, an automotive Web site, gave XF a positive review, complimenting its ``refined ride, sporty handling, apart-from-the-pack interior and exterior design (and) powerful performance from V-8s.''
Tata could do worse than to study how Volkswagen bought and revived the failing Bentley brand in 1998, giving it just enough support in terms of money and technology, while letting British management take care of business.
David Reuter, a Bentley spokesman in the U.S., said 2006 was the first year for which VW has disclosed any financial information about Bentley's performance, reflecting a profit of ``several million euros.'' What VW doesn't disclose -- and what Tata soon will learn -- is how many billions VW and other makers of luxury cars must invest to stay current on myriad technologies in order to keep pace with new regulations as well as Lexus, Mercedes, BMW, Porsche and others.
The prospect of such outlays is at least one reason so many holders of Tata stock and bonds have voted with their feet.
Yet the risk of a catastrophe with Jaguar and Land Rover is one that Tata must accept if it intends to be a worldwide automaker instead of a local one. Tata has a golden opportunity to gain knowledge and expertise in world luxury markets.
Absent such expertise, the Indian company could one day become the bauble of some other automaker trying to capitalize on the rising Indian car market.
(Doron Levin is a Bloomberg News columnist. The opinions expressed are his own.)
To contact the writer of this column: Doron Levin in Southfield, Michigan, at dlevin5@bloomberg.net
Last Updated: April 3, 2008 00:01 EDT
Friday, April 04, 2008
Elliot Spitzer Scandal
The scandal involving the New York Governor has become valuable fodder to the late night talk shows
Nice videogames
Man these walkthroughs are getting exciting It is like getting the joy of playing the game without playing it . Here the youtube accounts of Dogcyn and Vgspectrum have the walkthrough the games ASSASSINS CREED & THE GODFATHER
Another view on the Tata acquisition
How Tata can beat the 80% failure rate for M&As
Declan Mulkeen - 03-Apr-2008
Following Tata's purchase of Jaguar and Land Rover last week there needs to be an awareness of the challenges which a cross-border acquisitions may produce.
AutomotiveThe current trend towards international mergers, acquisitions and joint ventures is resulting in organisations not only having to deal with the merger of different corporate cultures, but also of two or more national cultures. While Tata will be more familiar with British business culture following its recent acquisition of steel producer Corus and its ownership of Tetley Tea, it will need to work hard to understand the unique culture of the British car maker.
Jaguar and Land Rover, previously owned by US car manufacturer Ford, are familiar with North American management and business practices so the change to Indian ownership should be an interesting challenge for management and production staff alike. With estimates suggesting that as many as 80% of international mergers and acquisitions fail, Tata will need to take extreme care and consideration to ensure that it fully understands the national and corporate cultures of the companies it has bought into.
There has already been employee suspicion over the secretive nature of the three month purchase negotiations when Tata was named ahead of private equity company One Equity and Indian automotive group Mahindra and Mahindra. Delays were put down supply contract negotiations with Ford and pension and job security issues.
Key to Tata’s success will be the ability to maintain clear and open channels of communication with all Jaguar and Land Rover employees. Information is the lifeblood of any organisation and the way in which it is communicated can make the difference between a productive and committed workforce and one that is sceptical and unreceptive.
All the senior management teams must communicate accurate information transparently, explicitly and as quickly as possible. Information must then be cascaded throughout the entire business in order to effectively convey the key messages. While rapid and efficient communication should help to ease feelings of doubt and insecurity, managers should understand that employees need time to digest and understand the impact of the acquisition and gain a clearer understanding of the business objectives.
How the cultures differ
All parties involved also need to recognise the importance of understanding the underlying values and attitudes of each culture. To put it simply, they need to understand the other culture's perception of 'how we do things': this will include differences in levels of formality, tolerance of risk and methods of decision-making.
Different perceptions of time may also be a particular challenge for Jaguar/Land Rover and Tata. Before business is even discussed, Indians will typically take much more time than the British to meet the employees at all levels and develop relationships. This could conflict with the local approach, which often expect things to be done more quickly right from the start.
The human element
Jaguar/Land Rover and Tata should also take careful steps to ensure that the human element of the acquisition is not ignored. It is the employee who will have the greatest impact on the successful outcome of this acquisition and carefully selecting respected people in the organisation to help communicate change and policy will help ensure they feel cared for. Without taking the time to fully understand the effect that a changing organisational culture can have on employees as well as the challenges of bringing together national cultures, companies are risking everything.
Mr Tata
Many people probably have a misperception of the Tata Group, perhaps identifying it as an emerging market’s upstart. However it has been operating since 1868 and has often won accolades in valuing its employees as much as it values profit. It prides itself on equality and fair management which can only be seen as positive attributes for Jaguar and Land Rover. Mr Tata has a passion for innovation with the most recent example being the launch of India's own Volkswagen - People's Car. Called the Nano and costing just $2,500 it has opened car ownership to millions of Indians, proving that Mr. Tata and his empire is out to make a difference.
Declan Mulkeen, Marketing Director at Communicaid, Europe's leading Culture and Communication Skills consultancy. It acted as cultural consultant to Corus during Tata’s purchase.
Declan Mulkeen - 03-Apr-2008
Following Tata's purchase of Jaguar and Land Rover last week there needs to be an awareness of the challenges which a cross-border acquisitions may produce.
AutomotiveThe current trend towards international mergers, acquisitions and joint ventures is resulting in organisations not only having to deal with the merger of different corporate cultures, but also of two or more national cultures. While Tata will be more familiar with British business culture following its recent acquisition of steel producer Corus and its ownership of Tetley Tea, it will need to work hard to understand the unique culture of the British car maker.
Jaguar and Land Rover, previously owned by US car manufacturer Ford, are familiar with North American management and business practices so the change to Indian ownership should be an interesting challenge for management and production staff alike. With estimates suggesting that as many as 80% of international mergers and acquisitions fail, Tata will need to take extreme care and consideration to ensure that it fully understands the national and corporate cultures of the companies it has bought into.
There has already been employee suspicion over the secretive nature of the three month purchase negotiations when Tata was named ahead of private equity company One Equity and Indian automotive group Mahindra and Mahindra. Delays were put down supply contract negotiations with Ford and pension and job security issues.
Key to Tata’s success will be the ability to maintain clear and open channels of communication with all Jaguar and Land Rover employees. Information is the lifeblood of any organisation and the way in which it is communicated can make the difference between a productive and committed workforce and one that is sceptical and unreceptive.
All the senior management teams must communicate accurate information transparently, explicitly and as quickly as possible. Information must then be cascaded throughout the entire business in order to effectively convey the key messages. While rapid and efficient communication should help to ease feelings of doubt and insecurity, managers should understand that employees need time to digest and understand the impact of the acquisition and gain a clearer understanding of the business objectives.
How the cultures differ
All parties involved also need to recognise the importance of understanding the underlying values and attitudes of each culture. To put it simply, they need to understand the other culture's perception of 'how we do things': this will include differences in levels of formality, tolerance of risk and methods of decision-making.
Different perceptions of time may also be a particular challenge for Jaguar/Land Rover and Tata. Before business is even discussed, Indians will typically take much more time than the British to meet the employees at all levels and develop relationships. This could conflict with the local approach, which often expect things to be done more quickly right from the start.
The human element
Jaguar/Land Rover and Tata should also take careful steps to ensure that the human element of the acquisition is not ignored. It is the employee who will have the greatest impact on the successful outcome of this acquisition and carefully selecting respected people in the organisation to help communicate change and policy will help ensure they feel cared for. Without taking the time to fully understand the effect that a changing organisational culture can have on employees as well as the challenges of bringing together national cultures, companies are risking everything.
Mr Tata
Many people probably have a misperception of the Tata Group, perhaps identifying it as an emerging market’s upstart. However it has been operating since 1868 and has often won accolades in valuing its employees as much as it values profit. It prides itself on equality and fair management which can only be seen as positive attributes for Jaguar and Land Rover. Mr Tata has a passion for innovation with the most recent example being the launch of India's own Volkswagen - People's Car. Called the Nano and costing just $2,500 it has opened car ownership to millions of Indians, proving that Mr. Tata and his empire is out to make a difference.
Declan Mulkeen, Marketing Director at Communicaid, Europe's leading Culture and Communication Skills consultancy. It acted as cultural consultant to Corus during Tata’s purchase.
The system was down for a couple of months so the time has come to keep a record of certain interesting issues going on in the world one of the most interesting is that Tata the large indian conglomerate has taken over two of the luxury brand cars in the world Jaguar and Land Rover. Lets see what the UK thinks about it
Tata's takeover of Jaguar and Land Rover will be a key turning point in the car industry's history, automobile experts say.
Coventry-based Nick Seale of the Warwick Manufacturing Group believes that the takeover will also be of global and historic significance.
Seale said: "When the history of the motor industry is written, they will look back on this event as one of the key turning points.
"The Indian purchase of two of the strongest brands in the world car industry is really significant because the industry, 20 years from now will be very different, and if I was a betting man I will say India will be a major player."
He told the Coventry Evening Telegraph: "The US companies have been world leaders for 50 years now but they are experiencing difficulties. The Japanese have risen and out of the Japanese/US power struggle we've suddenly got the emerging world of India and China becoming a real force.
"An Indian company buying two of the world's largest brands is really significant and it will be a turning point. Although there's going to be no visible change in the short term, it's a really significant move.
"I've been doing some work with a motorcycle company in India and India is absolutely fascinating from an industrialisation point of view. Indian companies are going to be increasingly powerful in the world."
According to Seale, Ford had "sold off a really good business", and added that it was not Tata's style to come in heavy handed and make sweeping changes which is excellent.
Jaguar-Land Rover could also benefit from Tata's business portfolio, which is spread across an array of sectors from IT, services to tea production and steel with more than 289,000 people in its workforce in 80 countries, Seale added.
"One of the strengths of Tata is they have such a broad industry portfolio which is protective in terms of world changes in industry. You are not tied in to the motor industry. It's really an exciting time and is fascinating to see all these things going on. Tata are in it for a very long time," Seale said.
Prime Minister Gordon Brown echoed Seale's optimism this week during his visit to Coventry.
Brown said: "The important thing is we continue to safeguard jobs in the future and what the Tata company has said is they will invest in Jaguar Land Rover and still maintain apprenticeships in the area and will invest in new technologies of the future.
"And so for the 16,000 people who depend on Jaguar Land Rover the future is, as Tata says, one we can safeguard by everybody working together to make this a great success."
Tata's takeover of Jaguar and Land Rover will be a key turning point in the car industry's history, automobile experts say.
Coventry-based Nick Seale of the Warwick Manufacturing Group believes that the takeover will also be of global and historic significance.
Seale said: "When the history of the motor industry is written, they will look back on this event as one of the key turning points.
"The Indian purchase of two of the strongest brands in the world car industry is really significant because the industry, 20 years from now will be very different, and if I was a betting man I will say India will be a major player."
He told the Coventry Evening Telegraph: "The US companies have been world leaders for 50 years now but they are experiencing difficulties. The Japanese have risen and out of the Japanese/US power struggle we've suddenly got the emerging world of India and China becoming a real force.
"An Indian company buying two of the world's largest brands is really significant and it will be a turning point. Although there's going to be no visible change in the short term, it's a really significant move.
"I've been doing some work with a motorcycle company in India and India is absolutely fascinating from an industrialisation point of view. Indian companies are going to be increasingly powerful in the world."
According to Seale, Ford had "sold off a really good business", and added that it was not Tata's style to come in heavy handed and make sweeping changes which is excellent.
Jaguar-Land Rover could also benefit from Tata's business portfolio, which is spread across an array of sectors from IT, services to tea production and steel with more than 289,000 people in its workforce in 80 countries, Seale added.
"One of the strengths of Tata is they have such a broad industry portfolio which is protective in terms of world changes in industry. You are not tied in to the motor industry. It's really an exciting time and is fascinating to see all these things going on. Tata are in it for a very long time," Seale said.
Prime Minister Gordon Brown echoed Seale's optimism this week during his visit to Coventry.
Brown said: "The important thing is we continue to safeguard jobs in the future and what the Tata company has said is they will invest in Jaguar Land Rover and still maintain apprenticeships in the area and will invest in new technologies of the future.
"And so for the 16,000 people who depend on Jaguar Land Rover the future is, as Tata says, one we can safeguard by everybody working together to make this a great success."
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