15 Companies That Might Not Survive 2009

Who's next?

With consumers shutting their wallets and corporate revenues plunging, the business landscape may start to resemble a graveyard in 2009. Household names like Circuit City and Linens 'n Things have already perished. And chances are, those bankruptcies were just an early warning sign of a much broader epidemic.

Moody's Investors Service, for instance, predicts that the default rate on corporate bonds - which foretells bankruptcies - will be three times higher in 2009 than in 2008, and 15 times higher than in 2007. That could equate to 25 significant bankruptcies per month.

We examined ratings from Moody's and data from other sources to develop a short list of potential victims that ought to be familiar to most consumers. Many of these firms are in industries directly hit by the slowdown in consumer spending, such as retail, automotive, housing and entertainment.

But there are other common threads. Most of these firms have limited cash for a rainy day, and a lot of debt, with large interest payments due over the next year. In ordinary times, it might not be so hard to refinance loans, or get new ones, to help keep the cash flowing. But in an acute credit crunch it's a different story, and at companies where sales are down and going lower, skittish lenders may refuse to grant any more credit. It's a terrible time to be cash-poor.

[See how Wall Street continues to doom itself.]

That's why Moody's assigns most of these firms its lowest rating for short-term liquidity. And all the firms on this list have long-term debt that Moody's rates Caa or lower, which means the borrower is considered at least a "very high" credit risk.

Once a company defaults on its debt, or fails to make a payment, the next step is usually a Chapter 11 bankruptcy filing. Some firms continue to operate while in Chapter 11, retaining many of their employees. Those firms often shed debt, restructure, and emerge from bankruptcy as healthier companies.

But it takes fresh financing to do that, and with money scarce, more bankrupt firms than usual are likely to liquidate - like Circuit City. That's why corporate failures are likely to be a major drag on the economy in 2009: In a liquidation, the entire workforce often gets axed, with little or no severance. That will only add to unemployment, which could hit 9 or even 10 percent by the end of the year.

[Want to land a plum job without paying taxes? Here's how.]

It's possible that none of the firms on this list will liquidate, or even declare Chapter 11. Some may come up with unexpected revenue or creative financing that helps avert bankruptcy, while others could be purchased in whole or in part by creditors or other investors. But one way or another, the following 15 firms will probably look a lot different a year from now than they do today:

Rite Aid. (Ticker symbol: RAD; about 100,000 employees; 1-year stock-price decline: 92%). This drugstore chain tried to boost its performance by acquiring competitors Brooks and Eckerd in 2007. But there have been some nasty side effects, like a huge debt load that makes it the most leveraged drugstore chain in the U.S., according to Zacks Equity Research. That big retail investment came just as megadiscounter Wal-Mart was starting to sell prescription drugs, and consumers were starting to cut bank on spending. Management has twice lowered its outlook for 2009. Prognosis: Mounting losses, with no turnaround in sight.

Claire's Stores. (Privately owned; about 18,000 employees.) Leon Black's once-renowned private-equity firm, the Apollo Group, paid $3.1 billion for this trendy teen-focused accessory store in 2007, when buyout funds were bulging. But cash flow has been negative for much of the past year and analysts believe Claire's is close to defaulting on its debt. A horrible retail outlook for 2009 offers no relief, suggesting Claire's could follow Linens 'n Things - another Apollo purchase - and declare Chapter 11, possibly shuttering all of its 3,000-plus stores.

[See 5 pieces missing from Obama's stimulus plan.]

Chrysler. (Privately owned; about 55,000 employees). It's never a good sign when management insists the company is not going out of business, which is what CEO Bob Nardelli has been doing lately. Of the three Detroit automakers, Chrysler is the most endangered, with a product portfolio that's overreliant on gas-guzzling trucks and SUVs and almost totally devoid of compelling small cars. A recent deal with Fiat seems dubious, since the Italian automaker doesn't have to pony up any money, and Chrysler desperately needs cash. The company is quickly burning through $4 billion in government bailout money, and with car sales down 40 percent from recent peaks, Chrysler may be the weakling that can't cut it in tough times.

Dollar Thrifty Automotive Group. (DTG; about 7,000 employees; stock down 95%). This car-rental company is a small player compared to Enterprise, Hertz, and Avis Budget. It's also more reliant on leisure travelers, and therefore more susceptible to a downturn as consumers cut spending. Dollar Thrifty is also closely tied to Chrysler, which supplies 80 percent of its fleet. Moody's predicts that if Chrysler declares Chapter 11, Dollar Thrifty would suffer deeply as well.

Realogy Corp. (Privately owned; about 13,000 employees). It's the biggest real-estate brokerage firm in the country, but that's a bad thing when there are double-digit declines in both sales and prices, as there were in 2009. Realogy, which includes the Coldwell Banker, ERA, and Sotheby's franchises, also carries a high debt load, dating to its purchase by the Apollo Group in 2007 - the very moment when the housing market was starting to invert from a soaring ride into a sickening nosedive. Realogy has been trying to refinance much of its debt, prompting lawsuits. One deal was denied by a judge in December, reducing the firm's already tight wiggle room.

[See why "Wall Street talent" is an oxymoron.]

Station Casinos. (Privately owned, about 14,000 employees). Las Vegas has already been creamed by a biblical real-estate bust, and now it may face the loss of its home-grown gambling joints, too. Station - which runs 15 casinos off the strip that cater to locals - recently failed to make a key interest payment, which is often one of the last steps before a Chapter 11 filing. For once, the house seems likely to lose.

Loehmann's Capital Corp. (Privately owned; about 1,500 employees). This clothing chain has the right formula for lean times, offering women's clothing at discount prices. But the consumer pullback is hitting just about every retailer, and Loehmann's has a lot less cash to ride out a drought than competitors like Nordstrom Rack and TJ Maxx. If Loehmann's doesn't get additional financing in 2009 - a dicey proposition, given skyrocketing unemployment and plunging spending - the chain could run out of cash.

Sbarro. (Privately owned; about 5,500 employees). It's not the pizza that's the problem. Many of this chain's 1,100 storefronts are in malls, which is a double whammy: Traffic is down, since consumers have put away their wallets. Sbarro can't really boost revenue by adding a breakfast or late-night menu, like other chains have done. And competitors like Domino's and Pizza Hut have less debt and stronger cash flow, which could intensify pressure on Sbarro as key debt payments come due in 2009.

Six Flags. (SIX; about 30,000 employees; stock down 84%). This theme-park operator has been losing money for several years, and selling off properties to try to pay down debt and get back into the black. But the ride may end prematurely. Moody's expects cash flow to be negative in 2009, and if consumers aren't spending during the peak summer season, that could imperil the company's ability to pay debts coming due later this year and in 2010.

Blockbuster. (BBI; about 60,000 employees; stock down 57%). The video-rental chain has burned cash while trying to figure out how to maximize fees without alienating customers. Its operating income has started to improve just as consumers are cutting back, even on movies. Video stores in general are under pressure as they compete with cable and Internet operators offering the same titles. A key test of Blockbuster's viability will come when two credit lines expire in August. One possible outcome, according to Valueline, is that investors take the company private and then go public again when market conditions are better.

Krispy Kreme. (KKD; about 4,000 employees; stock down 50%). The donuts might be good, but Krispy Kreme overestimated Americans' appetite - and that's saying something. This chain overexpanded during the donut heyday of the 1990s - taking on a lot of debt - and now requires high volumes to meet expenses and interest payments. The company has cut costs and closed underperforming stores, but still hasn't earned an operating profit in three years. And now that consumers are cutting back on everything, such improvements may fail to offset top-line declines, leading Krispy Kreme to seek some kind of relief from lenders over the next year.

Landry's Restaurants. (LNY; about 17,000 employees; stock down 66%). This restaurant chain, which operates Chart House, Rainforest Café, and other eateries, needs $400 million in new financing to finalize a buyout deal dating to last June. If lenders come through, the company should have enough cash to ride out the recession. But at least two banks have already balked, leading to downgrades of the company's debt and the prospect of a cash-flow crunch.

Sirius Satellite Radio. (SIRI - parent company; about 1,000 employees; stock down 96%). The music rocks, but satellite radio has yet to be profitable, and huge contracts for performers like Howard Stern are looking unsustainable. Sirius is one of two satellite-radio services owned by parent company Sirius XM, which was formed when Sirius and XM merged last year. So far, the merger hasn't generated the savings needed to make the company profitable, and Moody's thinks there's a "high likelihood" that Sirius will fail to repay or refinance its debt in 2009. One outcome could be a takeover, at distressed prices, by other firms active in the satellite business.

Trump Entertainment Resorts Holdings. (TRMP; about 9,500 employees; stock down 94%). The casino company made famous by The Donald has received several extensions on interest payments, while it tries to sell at least one of its Atlantic City properties and pay down a stack of debt. But with casino buyers scarce, competition circling, and gamblers nursing their losses from the recession, Trump Entertainment may face long odds of skirting bankruptcy.

BearingPoint. (BGPT; about 16,000 employees; stock down 21%). This Virginia-based consulting firm, spun out of KPMG in 2001, is struggling to solve its own operating problems. The firm has consistently lost money, revenue has been falling, and management stopped issuing earnings guidance in 2008. Stable government contracts generate about 30 percent of the firm's business, but the firm may sell other divisions to help pay off debt. With a key interest payment due in April, management needs to hustle - or devise its own exit strategy.

- With Carol Hook, Danielle Burton and Stephanie Salmon

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Some health Tips

Hey people u have to write here some treatments.......it may be related to any season..........but now its season of summer & all need good health so....keep replying & post ur suggestions & ur tricks .........& enjoy all the seasons.........

Summer :

in summer our body needs water....& cold .......& if u are suffring from any type of problem like....vomiting , headach , low bp , accidity , pain in stomach & feel very hot .........u should imidiatlly make neembu pani ( lemon water , soda.....)

Heres the method :-

1) take 1 tumblar water.
2) take a middle sized lemon.....cut it & take out its juice then mix it with the water.
3) take salt & put it in the water according to ur taste.
4) take sugar 1 table spoon & mix with water.
5) take flavoured jira ( sika & pisa hau jira ) & mixed it also.

Now mixed all the items & u can use ice cubes in it. Your neembu pani ( lemon water . Soda ) is ready......after take it u feel relex & fresh ....u can take it anytime. No sideeffect......

Make it at home & enjoy.......

Write what did u feel after taking it........

Hey friends
if u or anyone else at ur home is suffring from " jaundice ".....u can give them ayurevedic medicine at home...


Method :-

1) take 10g alum's powder ( fitkari ka powder).
2) take 20g jira's powder ( kaccha & bina sika hua jire ka powder ).
3) mix both types of powder .

How to take :-

1) quantity of powder :- u have to take it equalent of a "gram" with simple water (1 chane
ke baraber )
2) in a day , take three times this medicine ( in the morning, in the noon &in the evening )

note :-

this medicine's taste is not so good.......i know it bcz i took it.....so, for no taste u can take it with banana . But bcz of only taste dont throw out it from the mouth......by this medicine u will cover up fastly.......there is a benifit ,no need to take any doctors medicine....but u can go for check up. So take this medicine till u would not come in ur privious happy & healthy life...................:)

so try this one also. Its not costly & recover fast......so take it & enjoy ur life


for getting rid of dark circles below eye lids

tip 1:

grate 2' piece of cucumber. Squeeze through a muslin cloth and extract the juice. Dip cotton pads in this and place on eyelids. Relax for 15 minutes.

Tip 2:

take 1 tspn tomato pulp,1 pinch of turmeric powder â½ tspn of limejuice and 1 tspn of gram flour. Make a paste and apply gently. Remove gently with moist cotton pads after â½ an hour.

Tip 3:

soak 2 almonds overnight. Peel and grind to a smooth paste. Add a few drops of limejuice to this apply for 20-25 minutes. This should be followed daily and gradually after 2 weeks, every 3rd day and finally when the difference is visible, to once aeek. A paste of almonds can be stored in a clean bottle in the 'fridge.

Tip 4:

apply a paste made by crushing a handful of mint leaves.


Its summer season & days are too hot.........then for cold should we do?????//

1. U should take milk in the morning ,if possible should take in night also.
2. U should drink a lots of water. Near 10 glasses in a day must take.
3. Should not go anywhere in noon.......& of u go then take one glass of neembu pani.
4. In the early morning u should take 1st one glass of honey & lemon with boiled water
( 1 table spoon honey & 2 lemon juice with boiled water ( temp. Of waher should be there
which can u take))
5. Do excercise & meditation, its good for health.

For pimples and scars left by it

mix 1 tsp of lemon juice and one tsp of rose water, apply on face and wash off after 15 minutes repeat this daily for 15-20 days and watch the difference

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cold and cough

cold and cough

Symptoms:

Following are the signs that indicate the presence of this ailment:

Running or blocked nose
Sneezing
Sore throat
Congestion
Headache
Low fever with body pain
Loss of appetite
Lethargy
Insomnia

Causes:

The aggravation of kapha due to the intake of cold food, drinks and fried stuff etc causes cough. Seasonal changes is also one of the reasons for cough Improper digestion of food transforms into a mucus toxin (Ama) and this circulates through the body and reaches the respiratory system, where it causes colds and coughs.

Remedies:

The body should be kept warm - especially the feet, chest, throat and head. Sweating is very helpful.
Take half a teaspoon of ginger juice with half a teaspoon of honey, three times a day (morning, noon and night). In winter, warm the mixture by mixing a teaspoon of warm water in it.

Mix half a cup of warm water with one teaspoon of lemon juice and one teaspoon of honey.
Dosage: Take several times a day.
In cases of dry cough (especially during the night), peel a small piece of fresh ginger. Sprinkle some salt on it and chew.
Take equal amounts of cardamom, ginger powder, black pepper and cinnamon (1 teaspoon each). Add sugar equal to the total amount of mixture and grind to make a fine powder.

Dosage: Take half a teaspoon twice daily, with honey or warm water after meals.
In cases of sore throat, a clove or two cardamoms or a few raisins can be chewed.Gargling with warm salty water two to three times a day is also beneficial.

Dos and Don'ts:

The food and activities that are to be avoided are as follows:

Cold foods and drinks
Ice cream, sweets
Fried foods
Milk products (cheese, creams, yogurt)
Sweet fruit juices
Breads
Meats
Nuts
Pastries
Sleeping during the day
Taking a cold shower
Exposure to cold wind, fans, air conditioners

Following are the substances and activities that should be taken in cough:

Boiled or steamed vegetables
Vegetable soup
Spice teas

Herbal teas
Hot milk with a piece of crushed ginger
Half a teaspoon of turmeric powder mixed in milk provides relief.

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Softwarism!! ( IT Humor )

Gandhism:

You have two cows. But you drink goat's milk.

Indiraism:

You have two bulls. You adamantly consider them as cows.

Lalooism:

You have two cows. You buy Rs. 900 Crore worth of cattlefeed for them.

Rajnikantism:

You have two cows. You throw them into air and catch their milk in your mouth.

Rajivism:

You have two cows. You paint them both to get colourful milk.

Softwarism:(Ultimate....):

Client has 2 cows and u need to milk them

1 . First prepare a document when to milk them (Project kick off)

2 . Prepare a document how long you have to milk them (Project plan)

3 . Then prepare how to milk them (Design)

4 . Then prepare what other accessories are needed to milk them (Framework)

5 . Then prepare a 2 dummy cows (sort of toy cows) and show to client the way in which u will milk them (UI Mockups & POC)

6 . If client is not satisfied then redo from step 2

7 . You actually start milking them and find that there are few problem with accessories. (Change framework)

8 . Redo step 4

9 . At last milk them and send it to onsite. (Coding over)

10. Make sure that cow milks properly ( Testing)

11. Onsite reports that it is not milking there.

12. You break your head and find that onsite is trying to milk from bulls

13. At last onsite milk them and send to client (Testing)

14. Client says the quality of milk is not good. (User Acceptance Test)

15. Offsite then slogs and improves the quality of milk

16. Now the client says that the quality is good but its milking at slow rate (performance issue)

17. Again you slog and send it with good performance.

18. Client is happy???

By this time both the COWs aged and cant milk. (The software got old and get ready for next release repeat from step 1) !!!!!

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How to know BAR CODES of different countries

Dear all friends
The whole world is scared of China made "black hearted goods"
Can you differentiate which one is made in Taiwan or China? Let me tell! u … the first 3 digits of barcode 690.691.692 is made in CHINA. Do not ever buy it for your own health.

471 is Made in Taiwan

This is a human right to know, but the government and related department never educate the public, therefore we have to rescue ourselves. Remember.



00-13: USA & Canada
20-29: In-Store Functions
30-37: France

40-44: Germany
45: Japan (also 49)
46: Russian Federation

471: Taiwan
474: Estonia
475: Latvia

477: Lithuania
479: Sri Lanka
480: Philippines

482: Ukraine
484: Moldova
485: Armenia

486: Georgia
487: Kazakhstan
489: Hong Kong

49: Japan (JAN-13)
50: United Kingdom
520: Greece

528: Lebanon
529: Cyprus
531: Macedonia

535: Malta
539: Ireland
54: Belgium & Luxembourg

560: Portugal
569: Iceland
57: Denmark

590: Poland
594: Romania
599: Hungary

600 & 601: South Africa
609: Mauritius
611: Morocco

613: Algeria
619: Tunisia
622: Egypt

625: Jordan
626: Iran
64: Finland

690-692: China
70: Norway
729: Israel

73: Sweden
740: Guatemala
741: El Salvador

742: Honduras
743: Nicaragua
744: Costa Rica

746: Dominican Republic
750: Mexico
759: Venezuela

76: Switzerland
770: Colombia
773: Uruguay

775: Peru
777: Bolivia
779: Argentina

780: Chile
784: Paraguay
785: Peru

786: Ecuador
789: Brazil
80 - 83: Italy

84: Spain
850: Cuba
858: Slovakia

859: Czech Republic
860: Yugoslavia
869: Turkey

87: Netherlands
880: South Korea
885: Thailand

888: Singapore
890: India
893: Vietnam

899: Indonesia
90 & 91: Austria
93: Australia

94: New Zealand
955: Malaysia
977: International Standard Serial Number for Periodicals (ISSN)

978: International Standard Book Numbering (ISBN)
979: International Standard Music Number (ISMN)
980: Refund receipts

981 & 982: Common Currency Coupons
99: Coupons

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ME and MY BOSS

When I Take a long time to finish, I am slow,

When my boss takes a long time, he is thorough

When I don't do it, I am lazy,

When my boss does not do it, he is busy,

When I do something without being told, I am trying to be smart,

When my boss does the same, he takes the initiative,

When I please my boss, I am apple polishing,

When my boss pleases his boss, he is cooperating,

When I make a mistake, I' am an idiot.

When my boss makes a mistake, he's only human.

When I am out of the office, I am wondering around.

When my boss is out of the office, he's on business.

When I am on a day off sick, I am always sick.

When my boss is a day off sick, he must be very ill.

When I apply for leave, I must be going for an interview

When my boss applies for leave, it's because he's overworked

When I do good, my boss never remembers,

When I do wrong, he never forgets

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Ego

There was once a learned scientist. After a lot of practice and efforts, he developed a formula and learned the art of reproducing himself. He did it so perfectly that it was impossible to tell the reproduction from the original.


One day while doing his research, he realized that the Angel of Death was searching for him. In order to remain immortal he reproduced a dozen copies of himself. The reproduction was so meticulous that all of them looked exactly like him. Now when this Angel of Death came down, he was at a loss to know which of the thirteen before him was the original scientist, and confused, he left them all alone and returned back to heaven. But, not for long, for being an expert in human nature, the Angel came up with a clever idea.

He said to the scientist addressing all thirteen of them, "Sir, you must be a genius to have succeeded in making such perfect reproduction formula of yourself. However, I have discovered a flaw in your work, just one tiny little flaw." The scientist immediately jumped out and shouted, "Impossible! where is the flaw?" "Right here" said the Angel, as he picked up the scientist from among the reproductions and carried him off. The whole purpose of the scientist and his formula of reproduction failed as he could not control his pride and lost his life.


So while one's Knowledge and Skills takes one to the top of the ladder and makes one successful, however the three letter word "EGO" can pull one down immediately. Let go one's Ego.

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TCS to increase working hours, may freeze variable pay

KOLKATA: It’s official now. Tata Consultancy Services (TCS), the country’s biggest software company in terms of sales, may freeze variable pay to



its over 1 lakh employees as part of a string of cost-management initiatives to cope with the pangs of the global meltdown. The company has also decided to increase employee working hours from April 1, 2009, to 45 hours per week from the present 40 hours that every TCSer needs to clock each week. This was indicated by TCS chief executive officer & managing director S. Ramadorai here on on Thursday.

"In a bid to rein in total manpower costs and spruce up employee efficiency and productivity levels, TCS will take a relook at its performance-linked variable pay practices. Variable compensation payout accounts for 7.5-to-8% of our revenues and this will now be reviewed," said Mr Ramadorai. Manpower costs account for 53% of TCS’s total costs.

Elaborating on other initiaitives to beef up internal efficiences, Mr Ramadorai also confirmed that TCS is increasing employee working hours to 45 hours a week from the present 40 hours per week level. "We believe the additional five hours can be effectively used to upgrade employee skills wherever necessary," said Mr Ramadorai.

Incidentally, the variable component of a TCS employee’s salary is linked to the performance of the company, the business unit of the individual and the individual’s performance. At present, it ranges between 20-to-35% of an employee’s gross salary. Comprising of distinct `company’ and `employee’ components, the variable allowance payment to each TCS employee happens on quarterly and monthly basis respectively, said a TCS official. More importantly, the variable pay increases with seniority.

The latest developments come at a time when TCS is under increasing pressure from global clients to reduce its cost of service delivery and is even losing clients who are trying to drive a hard bargain. "I cannot share client specifics. But it’s true that we have lost some clients. One client, for instance, demanded a 70% discount which was simply unsustainable," said Mr Ramadorai, in response to a specific query.

Dwelling on TCS’s plans to unlock internal efficiencies in times when the company was experiencing muted growth, Mr Ramadorai said: "Our capex was at Rs 1400 crore in 2008-09. You can now expect our future infrastructure-related spends to either get delayed or reduced. They will be rationalised based on real-time decisions once we take a call on the infrastructure budgets for the next fiscal.

TCS managing director S. Ramadorai, however, is unwilling to confirm whether the company’s Rajarhat software campus rollout will hit a roadblock in the backdrop of the company’s decision to cutback future infrastructure-related spends.
Not too long ago, TCS had indicated plans to unveil a spate of cost management initiatives that included ways to rationalise or consolidate TCS’s infrastructure globally to save costs. Other measures recommended were saving on energy costs through efficiency programs and optimising on travel and communication costs. The TCS management had also indicated that it was re-examining its capex program to conserve cash in the current volatile environment.
Tata Realty Infrastructure Ltd (TRIL), the real estate arm of the Tata group, has been roped in to execute development of the TCS upcoming
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campus at Rajarhat.

Confirming this, TCS’s global human resources head Ajoyendra Mukherjee said: "TRIL has been given the mandate to execute the Rajarhat software campus over the next 24-odd months. I cannot share investment numbers at this point, but I can confirm that 15,000 employees will work in the upcoming Rajarhat campus which will come up at our 40 acre plot. Once the new campus is set up, we may relocate a section of TCS’s employees operating at some of out leased facilities in Salt Lake Sector V."

TCS has some 8000 IT professionals on its rolls in Kolkata who are distributed across the company’s eigth-odd centres in the Salt Lake Electronics Complex (Saltlec). Six of these facilities are leased while two are owned by TCS.

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One lakh Indians will return from U.S. in next 3-5 years

Washington: As many as 100,000 Indians and an equal number of Chinese will return to their native countries in the next three to five years, a move that will greatly boost their economies and undermine technological innovation in America, a new U.S. study warns.

The study on immigration by a team at Duke, Harvard and Berkeley universities led by Vivek Wadhwa, an Indian-American technology entrepreneur turned academic, says "America's loss is the world's gain".

There are no hard numbers available on how many have returned, but anecdotal evidence shows that this is in the tens of thousands, says Wadhwa, executive-in-residence for the Pratt School of Engineering at Duke University and fellow at the Labour and Worklife Programme at Harvard Law School.

"With the economic downturn, my guess is that we'll have over 100,000 Indians and as many Chinese return home over the next three-five years," says Wadhwa. "This flood of western educated and skilled talent will greatly boost the economies of India and China and strengthen their competitiveness.

"India is already becoming a global hub for R&D. This will allow it to branch into many new areas and will accelerate the trend," he says.

"The US has always had the luxury of being arrogant about immigration because it has been the strongest magnet for the world's best and brightest," but as the study shows "there are other strong magnets now".

"We are effectively exporting our economic stimulus. Policies like those which the US just enacted which prevents some banks from hiring foreign workers will have the opposite effect from what they intended - they will send jobs abroad and scare away top talent," Wadhwa said.

The study released Monday Ewing Marion Kauffman Foundation, based in Kansas City, Montana, indicates placing limits on foreign workers in the US is not the answer to America's rising unemployment rate and may undermine efforts to spur technological innovation.

"A substantial number of highly skilled immigrants have started returning to their home countries in recent years, draining a key source of brain power and innovation," said Robert E. Litan, vice president of Research and Policy at the Kauffman Foundation.

"We wanted to know what is encouraging this much-needed economic growth engine to leave our country, thereby sending entrepreneurship and economic stimulus to places like Bangalore and Beijing."

The report builds on an earlier Kauffman Foundation report by Wadhwa documenting a queue of one million H-1B holders and their families anxiously awaiting longer-term work visas and growing frustrated with the immigration process.

Until recently, America has been the prime destination for the world's best and brightest immigrants.

"Immigrants have made tremendous personal sacrifices," said Wadhwa. "They would leave behind relatives and friends and accept second-tier status in American society.


"Now countries like India and China are providing equal career opportunities and a better quality of life. So the most highly educated and skilled are often returning home."

The two-year study covered 1,203 Indian and C

hinese subjects who had studied or worked in the US for a year or more before returning home.

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Balance Sheet of Life

Our Birth is our Opening Balance!

Our Death is our Closing Balance!

Our Prejudiced Views are our Liabilities

Our Creative Ideas are our Assets

Heart is our Current Asset

Soul is our Fixed Asset

Brain is our Fixed Deposit

Thinking is our Current Account

Achievements are our Capital

Character & Morals, our Stock-in-Trade

Friends are our General Reserves

Values & Behaviour are our Goodwill

Patience is our Interest Earned

Love is our Dividend

Children are our Bonus Issues

Education is Brands / Patents

Knowledge is our Investment

Experience is our Premium Account

The Aim is to Tally the Balance Sheet Accurately.

The Goal is to get the Best Presented Accounts Award.

Some very Good and Very bad things ..

The most destructive habit....... ........ .....Worry

The greatest Joy......... ......... ......... ...Giving

The greatest loss.......Loss of self-respect

The most satisfying work........ ......Helping others

The ugliest personality trait....... .....Selfishness

The most endangered species..... ....Dedicated leaders

Our greatest natural resource.... ......... ...Our youth

The greatest 'shot in the arm'........ .Encouragement

The greatest problem to overcome.... ........ ...Fear

The most effective sleeping pill....... Peace of mind

The most crippling failure disease..... .......Excuses

The most powerful force in life........ .......... Love

The most dangerous act...... ..A gossip

The world's most incredible computer.... ....The brain

The worst thing to be without..... ......... ..... Hope

The deadliest weapon...... ........ ........The tongue

The two most power-filled words....... ........ 'I Can'

The greatest asset....... .......... ........ ....Faith

The most worthless emotion.... ......... ....Self- pity

The most beautiful attire...... ......... ........SMILE!

The most prized possession.. ........ .....Integrity

The most powerful channel of communication. ..Prayer

The most contagious spirit...... ......... ......Enthusiasm

Life ends; when
you stop Dreaming,

Hope ends; when
you stop Believing,

Love ends; when
you stop Caring,

And Friendship ends; when
you stop Sharing...!!!
friend

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What is recession?

This Story is about a man who once upon a time was selling Hotdogs by the roadside.

He was illiterate, so he never read newspapers.
He was hard of hearing, so he never listened to the radio.
His eyes were weak, so he never watched television.
But enthusiastically, he sold lots of hotdogs.
He was smart enough to offer some attractive schemes to increase his sales.
His sales and profit went up.
He ordered more a more raw material and buns and use to sale more.
He recruited few more supporting staff to serve more customers.
He started offering home deliveries. Eventually he got himself a bigger and better stove.
As his business was growing, the son, who had recently graduated from College, joined his father.
Then something strange happened.
The son asked, "Dad, aren't you aware of the great recession that is coming our way?"
The father replied, "No, but tell me about it." The son said, "The international situation is terrible.
The domestic situation is even worse. We should be prepared for the coming bad times.."
The man thought that since his son had been to college, read the papers, listened to the radio and watched TV.
He ought to know and his advice should not be taken lightly.
So the next day onwards, the father cut down the his raw material order and buns, took down the colorful signboard,
removed all the special schemes he was offering to the customers and was no longer as enthusiastic.
He reduced his staff strength by giving layoffs.
Very soon, fewer and fewer people bothered to stop at his hotdog stand.
And his sales started coming down rapidly, same is the profit.
The father said to his son, "Son, you were right".
"We are in the middle of a recession and crisis. I am glad you warned me ahead of time."

Moral of The Story: It's all in your MIND! And we actually FUEL this recession much more than we think we do!

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Tips to get smarter at work

Here are some simple and effective tips that could enhance your career to a greater extent.

1. Effective communication forms the foundation for a positive work alliance. You need to be able to tell your potential ally what you need and listen deeply to what they need.

2. Treat your allies as equals. No matter their position within your organization, all people are equal; they just have different jobs. Believe this.

3. Exhibit total professionalism. Never participate in gossip or in discussing the business of coworkers behind their backs.

4. Make sure you are not forming an exclusive club that the rest of your organization will fear and resent. But, you must take the time to develop strong relationships with your allies.

5. When working on a project together, always put forth your best efforts. Be the person who is willing to do extra to strengthen the collaboration and the outcome or product.

6. Keep your promises. If you say you will do something, do it. People need to depend upon you and the deadlines to which you commit.

7. Resolve any conflicts or disputes at your earliest opportunity. Unresolved conflict festers just under the surface in organizations.

8. Be an ally. Support your colleague’s ability to accomplish his or her mission, too. Give credit for ideas and solutions.

9. Effective managers delegate and don’t micromanage. Prioritize your tasks to focus on the important ones.

10. Your workspace should keep you motivated, not provide hot spots for daydreaming. Dress up your desk with items that keep you focused.

11. Too much to do at work? Add another task to your list: take a vacation and relax. People can’t operate at full throttle on the job day after day.

12. It’s a fact that taking breaks will increase productivity. It’s been proven in studies. If you need to, find someone to help ensure you take a morning and afternoon break.

13. Establish a routine of planning your week and your day. This will allow you to have your most productive week all the time.

14. Delegate or delete the non-essential items from your to-do list. The best way to do this is to always do your most important things first.

15. Make sure you plan in enough time between activities and appointments, and find ways to fail proof being on time.

16. Choose to enjoy your time at work. Find others who are like this and spread good cheer. It’s contagious and it grows.

17. Deadlines, tough bosses, rude clients, slow computers. Don’t make them into large dramas. Don’t lament the challenges of the world.

18. Try doing something different. If you always go on a trip, try taking a more local vacation, and really get some good rest time.

19. When you complain or fight on everything, then your power to ask for things is diminished. Save it up for when you really need it.

20. Don’t wait for your company to tell you what to do. Think creatively about how you can work with others to generate a greater result than if you had each worked on this alone.

21. If you are asked a question that stumps you or surprises you, never feel like you have to answer it right away. Seek more time to think about or research your answer.

22. Don’t immediately reject critiques from others, even if you don’t like or respect them. Sometimes people you don’t like may be giving you more honest feedback.

23. Be open to change. Give it a chance. Adapt to new things while using your experience to guide you, and you will have great success.

24. Always be on the lookout for opportunities to learn and improve your skills. Look for good seminars and training.

25. Set up a routine for “busy days” - perhaps you work 2-4 extra hours, and stick to that schedule, working nothing beyond it.

26. Schedule things like “break”, “coffee”, or even “video games” into your calendar just like you would a conference call.

27. There is a time and a place for perfectionism - when things are busy, consciously choose the areas in which you are willing to slack.

28. Whether it be business or personal support, busy times call for a morale boost on a regular basis. Hire a temp virtual assistant or call a good friend.

29. Everyone has a few things that are guaranteed to bring your stress level down to normal. Know your ‘relax buttons’ and get them on your schedule now.

30. For many people, a computer is the central tool at work. Optimizing the energy settings for computers and other devices can be more than a modest energy saver.

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How to manage meetings

Meetings: What is My Role?

Every professional who conducts or chairs any meeting or attends any meeting as a participant of the meeting should ask himself:

Which meetings or what types of meetings do I attend?
What is my role in the meetings? Chairman of the meeting, facilitator, participant, supplier, customer, consultant, expert or any other?
What can be my contributions? To achieve what objectives?
How can I bring about improvements in managing and conducting the meetings?
Do have I some specific ideas of improvement and can I implement them?
Do I possess necessary skills/competencies in managing and conducting the meetings and can I improve upon them?
How can I make the meetings- their process and results more effective?
Can the meetings be made more interesting and bit of fun?
Critical Questions Prior To Meetings
Before managing, arranging, conducting or attending any meeting find the answers to the following critical questions:

Why meeting?
What is the subject matter/agenda?
Who are attending the meeting?
When is the meeting?
Where will the meeting take place/venue?
Where to: expected outcomes/results of the meeting?
Also answer one more question: Is the meeting really necessary? what will happen if it does not take place?
Planning a Meeting

Agenda preparation
Agenda to be brief
Duration of meeting
Time allocation for each agenda item
Decision on names of participants
Date and time of meeting
Venue of meeting
Communication about meeting to all the participants
Role of the Chairman (or Facilitator) of the Meeting

Welcoming the participants
Communicating the purpose of meeting
Managing agenda and agenda items
Managing participants
Controlling difficult participants
Equitable treatment to participants
Motivating the participants for contribution
Appreciating the participants for good ideas
Clarifying
Summarizing
Managing time
Making sure that documentations/minutes are being recorded
Role of the Participants

Come prepared for meeting
Be punctual
Be enthusiastic and show it
Take active part
Contribute by sharing information, ideas and solutions
Contribute to the process of meeting
Do speak and take your chance to speak
Listen attentively
Appreciate other participants for their contribution
Be flexible about the acceptance of outcomes if you are convinced
Accept your role as an implementer of the decisions arrived at in the meeting wherever required
Types of Meetings

Statutory
Formal
Informal
Business
Team Building
Physically together
Video conferencing
Skills/Competencies Required for Conducting Effective Meetings

Planning
Organizing people
Communication
Assertiveness
Time management
Motivation
Leadership
Controlling

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14 important incidents of indian history before financial crisis

1947: Independence and Partition
Muslim refugees crowd onto a train near New Delhi during the bloody Partition of Hindu-majority India and Muslim-majority Pakistan. Some 15 million people are displaced and an estimated 500,000 killed in the savage violence sparked by Britain's division of its former colony.

1952: Towards Socialism
The Congress Party, headed by India's first Prime Minister, Jawaharlal Nehru, triumphs in the young nation's first general election. Nehru establishes a five-year plan for agricultural reform, committing India to a socialist path to development.

1962: India vs. China
Reinforcements head to the front after China steamrolls India's unprepared defenses, seizing a chunk of Kashmir that it holds to this day. The defeat is a dark moment in India's young history and a political blow from which Nehru never recovers. Battling ill health, he dies two years later.

1965: The Second Kashmir War
Housewives and students take target practice in Dhaka, East Pakistan (now Bangladesh), responding to a government call to arms during India and Pakistan's second major conflict over the disputed Kashmir region. The Second Kashmir War ends indecisively with a U.N.-mandated ceasefire.

1971: Independence for Bangladesh
Indian troops are hailed as liberators as they enter Dhaka, East Pakistan, during India and Pakistan's third major conflict. The war ends with a decisive Indian victory and statehood for East Pakistan, which becomes known as Bangladesh.

1975: The Emergency
Beset by growing political disorder, Prime Minister Indira Gandhi, Nehru's daughter, declares emergency rule. Thousands are detained during India's flirtation with authoritarianism, but the experiment is short-lived: the Emergency is lifted in 1977 and subsequent elections sweep Gandhi and the Congress Party out of power.

1983: A Win for India
India wins the Cricket World Cup for the first and only time in the cricket-obsessed nation's history, beating tournament favorites West Indies in the final.

1984: Gandhi Assassinated
Indira Gandhi, returned to power in 1980, is killed by her own Sikh bodyguards, leading to anti-Sikh riots in Delhi where thousands die. She is cremated by her son Rajiv (second from left) and daughter-in- law Sonia (in sunglasses) — a Prime Minister and future head of the Congress Party, respectively.

1992: The Destruction of the Babri Masjid
Far-right Hindu activists raze a 16th-century mosque, the Babri Masjid, in Ayodhya, Uttar Pradesh, claiming it had been erected on top of a Hindu temple. The destruction sparks religious riots throughout India.

1998: A New Nuclear Power
With its new Prime Minister Atal Behari Vajpayee (third from left) in attendance, India shocks the world by detonating a nuclear weapon beneath the remote Thar Desert on May 11; two weeks later, Pakistan replies with a weapons test of its own. The prospect of two antagonistic nuclear powers on the subcontinent raises fears of nuclear war, especially after India and Pakistan clash again over Kashmir less than a year later.

2002: Gujurat Burns
After a train carrying Hindu pilgrims is allegedly set on fire by Muslims, a brutal backlash in the western state of Gujarat results in the deaths of nearly a thousand people. The riots, carried live on television nationwide, spark an outcry against the ruling Bharatiya Janata Party (BJP), whose officials in Gujarat are accused of being complicit in the violence.

2003: The World's Back Office
India's fourth-quarter GDP growth hits double-digits, thanks to bumper crops and growth in IT and outsourcing. The 10.4% rate is the fastest among emerging nations.

2004: New Faces and Old
Under Sonia Gandhi, the Italian-born widow of former Prime Minister Rajiv Gandhi, a resurgent Congress Party sweeps the ruling BJP out of power. Manmohan Singh, a former Finance Minister who spearheaded India's economic reforms, is appointed Prime Minister.

2007: The Sky's the Limit
In early July, the Bombay Stock Exchange Sensex Index eclipses the 15,000 mark for the first time. The milestone means India's markets have soared fivefold in five years.

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STRESS MANAGEMENT TECHNIQUES

Stress Management Techniques for People Searching for Answers
Guide on How to Mange Stress


Stress Management
is more than anger management and relaxation. It is self management.
There are many different ways to manage stress. I have compiled the
various stress management
techniques that are simple and most effective to follow and practice.
Please feel free to use as many as you can, keeping an open mind, so
you can have a collection of techniques that are the most effective for
you.

Feel Good about your Self


Take Care of your Body


Develop the Right Attitude


Develop the Right Environment


Short Tips for Busy People



1. Feel Good about your Self

If
you want to bring down your level of stress level in a matter of
minutes, these techniques will help you. Use them as needed to feel
better quickly; practice them regularly over time and gain even greater
benefits.
Ø Deep Breathing from the Abdomen
Ø Meditation
Ø Having a dose of Laughter
Ø Progressive Muscular Relaxation
Ø Listening to light music
Ø Practicing Yoga
Ø Aerobic Exercises
Ø Creative Visualization

2. Take Care of Body

When
we're stressed, we don't always take care of our bodies, which can lead
to even more stress. Here are some important ways to take care of
yourself and keep stress levels lower.
Ø Eat Healthy low fats â€" high protein meals
Ø Have six to eight hours of regular sleep
Ø Exercise regularly
Ø Develop a Hobby
Ø Have healthy Sex Life

3. Develop the Right Attitude

Attitude
plays a great role in managing stress. Much of your experience of
stress has a lot to do with your attitude and the way you perceive your
life's events. Here are some resources to help you maintain a
stress-relieving attitude.
Ø Let go your Ego
Ø Have a Optimistic approach to life
Ø Do not react under pressure
Ø Stop Worrying about things not in your control
Ø Accept that everything cannot be perfect
Ø Find an opportunity in every problem
Ø Say good things to your self â€" affirmations
Ø Have a health sense of humour

4. Develop the Right Environment

Having
ambiance and pleasant environment make stress management very easy.
Your physical and emotional surroundings can impact your stress levels
in subtle but significant ways. Here are several ways you can change
your atmosphere and less your stress.
Ø Clutter free home, office and working desk
Ø Green and Clean surrounding
Ø Light instrumental music
Ø Motivational Posters
Ø Words of Wisdom

5. Short Tips for Busy People

Busy
People add a lot of stress to their already stressed life. People who
may have more stressors in their lives is because they have more
activity in their lives, and less time to devote to stress management.
If you're a busy person, these resources can help you to manage stress
efficiently in a short amount of time, and eliminate some of what's
causing you stress in the first place.
Ø Time Management Tips
Ø Communication Skills
Ø Listening Skills
Ø Managing Priorities
Ø Enhancing Team Work


Ø Enhancing People Skills

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125 Useful Timesaving Keyboard Shortcuts For XP

1. CTRL+B - Open the Organize Favorites dialog box
2. CTRL+E - Open the Search bar
3. CTRL+F - Start the Find utility
4. CTRL+H - Open the History bar
5. CTRL+I - Open the Favorites bar
6. CTRL+L - Open the Open dialog box
7. CTRL+N - Start another instance of the browser with the same Web address
8. CTRL+O - Open the Open dialog box, the same as CTRL+L
9. CTRL+P - Open the Print dialog box
10. CTRL+R - Update the current Web page
11. CTRL+W - Close the current window
12. CTRL+C - Copy
13. CTRL+X - Cut
14. CTRL+V - Paste
15. CTRL+Z - Undo
16. DELETE - Delete
17. SHIFT+DELETE - Delete the selected item permanently without placing the item in the Recycle Bin
18. CTRL while dragging an item - Copy the selected item
19. CTRL+SHIFT while dragging an item - Create a shortcut to the selected item
20. F2 key - Rename the selected item
21. CTRL+RIGHT ARROW - Move the insertion point to the beginning of the next word
22. CTRL+LEFT ARROW - Move the insertion point to the beginning of the previous word
23. CTRL+DOWN ARROW - Move the insertion point to the beginning of the next paragraph
24. CTRL+UP ARROW - Move the insertion point to the beginning of the previous paragraph
25. CTRL+SHIFT with any of the arrow keys - Highlight a block of text
26. SHIFT with any of the arrow keys - Select more than one item in a window or on the desktop, or select text in a document
27. CTRL+A - Select all
28. F3 key - Search for a file or a folder
29. ALT+ENTER - View the properties for the selected item
30. ALT+F4 - Close the active item, or quit the active program
31. ALT+ENTER - Display the properties of the selected object
32. ALT+SPACEBAR - Open the shortcut menu for the active window
33. CTRL+F4 - Close the active document in programs that enable you to have multiple documents open simultaneously
34. ALT+TAB - Switch between the open items
35. ALT+ESC - Cycle through items in the order that they had been opened
36. F6 key - Cycle through the screen elements in a window or on the desktop
37. F4 key - Display the Address bar list in My Computer or Windows Explorer
38. SHIFT+F10 - Display the shortcut menu for the selected item
39. ALT+SPACEBAR - Display the System menu for the active window
40. CTRL+ESC - Display the Start menu
41. ALT+Underlined letter in a menu name - Display the corresponding menu
42. Underlined letter in a command name on an open menu - Perform the corresponding command
43. F10 key - Activate the menu bar in the active program
44. RIGHT ARROW - Open the next menu to the right, or open a submenu
45. LEFT ARROW - Open the next menu to the left, or close a submenu
46. F5 key - Update the active window
47. BACKSPACE - View the folder one level up in My Computer or Windows Explorer
48. ESC - Cancel the current task
49. CTRL+SHIFT+ESC - Open Task Manager
50. Dialog box keyboard shortcuts
51. CTRL+TAB - Move forward through the tabs
52. CTRL+SHIFT+TAB - Move backward through the tabs
53. TAB - Move forward through the options
54. SHIFT+TAB - Move backward through the options
55. ENTER - Perform the command for the active option or button
56. SPACEBAR - Select or clear the check box if the active option is a check box
57. Arrow keys - Select a button if the active option is a group of option buttons
58. F1 key - Display Help
59. F4 key - Display the items in the active list
60. Microsoft natural keyboard shortcuts
61. Windows Logo - Display or hide the Start menu
62. Windows Logo+BREAK - Display the System Properties dialog box
63. Windows Logo+D - Display the desktop
64. Windows Logo+M - Minimize all of the windows
65. Windows Logo+SHIFT+M - Restore the minimized windows
66. Windows Logo+E - Open My Computer
67. Windows Logo+F - Search for a file or a folder
68. CTRL+Windows Logo+F - Search for computers
69. Windows Logo+F1 - Display Windows Help
70. Windows Logo+ L - Lock the keyboard
71. Windows Logo+R - Open the Run dialog box
72. Windows Logo+U - Open Utility Manager
73. Accessibility keyboard shortcuts
74. Right SHIFT for eight seconds - Switch FilterKeys either on or off
75. Left ALT+left SHIFT+PRINT SCREEN - Switch High Contrast either on or off
76. Left ALT+left SHIFT+NUM LOCK - Switch the MouseKeys either on or off
77. SHIFT five times - Switch the StickyKeys either on or off
78. NUM LOCK for five seconds - Switch the ToggleKeys either on or off
79. Windows Logo +U - Open Utility Manager
80. Windows Explorer keyboard shortcuts
81. END - Display the bottom of the active windowl
82. HOME - Display the top of the active window
83. NUM LOCK+Asterisk sign - * - Display all of the subfolders that are under the selected folder
84. NUM LOCK+Plus sign - + - Display the contents of the selected folder
85. NUM LOCK+Minus sign - - - Collapse the selected folder
86. LEFT ARROW - Collapse the current selection if it is expanded, or select the parent folder
87. RIGHT ARROW - Display the current selection if it is collapsed, or select the first subfolder
88. Shortcut keys for Character Map
89. RIGHT ARROW - Move to the right or to the beginning of the next line
90. LEFT ARROW - Move to the left or to the end of the previous line
91. UP ARROW - Move up one row
92. DOWN ARROW - Move down one row
93. PAGE UP - Move up one screen at a time
94. PAGE DOWN - Move down one screen at a time
95. HOME - Move to the beginning of the line
96. END - Move to the end of the line
97. CTRL+HOME - Move to the first character
98. CTRL+END - Move to the last character
99. CTRL+O - Open a saved console
100. CTRL+N - Open a new console
101. CTRL+S - Save the open console
102. CTRL+M - Add or remove a console item
103. CTRL+W - Open a new window
104. F5 key - Update the content of all console windows
105. ALT+SPACEBAR - Display the MMC window menu
106. ALT+F4 - Close the console
107. ALT+A - Display the Action menu
108. ALT+V - Display the View menu
109. ALT+F - Display the File menu
110. ALT+O - Display the Favorites menu
110. ALT+O - Display the Favorites menu
111. CTRL+P - Print the current page or active pane
112. ALT+Minus sign - - - Display the window menu for the active console window
113. SHIFT+F10 - Display the Action shortcut menu for the selected item
114. F1 key - Open the Help topic, if any, for the selected item
115. F5 key - Update the content of all console windows
116. CTRL+F10 - Maximize the active console window
117. CTRL+F5 - Restore the active console window
118. ALT+ENTER - Display the Properties dialog box, if any, for the selected item
119. F2 key - Rename the selected item
120. CTRL+ALT+END - Open the Microsoft Windows NT Security dialog box
121. ALT+PAGE UP - Switch between programs from left to right
122. ALT+PAGE DOWN - Switch between programs from right to left
123. ALT+INSERT - Cycle through the programs in most recently used order
124. ALT+HOME - Display the Start menu
125. CTRL+ALT+BREAK - Switch the client computer between a window and a full screen

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What is IPO?

About Public IssuesCorporates may raise capital in the primary market by way of an initial public offer, rights issue or private placement. An Initial Public Offer (IPO) is the selling of securities to the public in the primary market. This Initial Public Offering can be made through the fixed price method, book building method or a combination of both.

There are two types of Public Issues:

ISSUE TYPE

OFFER PRICE

DEMAND

PAYMENT

RESERVATIONS

Fixed Price Issues

Price at which the securities are offered and would be allotted is made known in advance to the investors

Demand for the securities offered is known only after the closure of the issue

100 % advance payment is required to be made by the investors at the time of application.

50 % of the shares offered are reserved for applications below Rs. 1 lakh and the balance for higher amount applications.

Book Building Issues

A 20 % price band is offered by the issuer within which investors are allowed to bid and the final price is determined by the issuer only after closure of the bidding.

Demand for the securities offered , and at various prices, is available on a real time basis on the BSE website during the bidding period..

10 % advance payment is required to be made by the QIBs along with the application, while other categories of investors have to pay 100 % advance along with the application.

50 % of shares offered are reserved for QIBS, 35 % for small investors and the balance for all other investors.

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Factors effecting job satisfaction

In today’s competitive environment organisations thrive and survive on their human resources. Values, attitudes, perceptions and behaviour, which form these resources, influence employee performance. It is a key factor in realising organisational and individual goals that in turn greatly depends on individual’s self-motivation and job satisfaction.

What is job satisfaction?

Job satisfaction is one’s attitude towards his job (positive or negative). Satisfaction in work and the work environment is the basic constituent of employee job satisfaction. Employee attitudes and values influence their behaviour. Positive outlook and backup from HR helps modify behaviour resulting in higher performance levels.

Crucial

HR must ensure pursuance of right assignment by the employee at the recruitment and selection stage itself. HR should consider value systems as key credentials along with abilities and experience to be compatible with that of the organisation.

Organisations, which give due recognition to the perceptions, attitudes, motivation and learning abilities of employees, successfully create an efficient workforce. Efficient workforces identify themselves with the organisation’s mission and aid in its success.

How to achieve?

Attitudes influence behaviour and are the indicators of potential problems an organisation might encounter. HR must help employees to cope with frustrations and sustain job satisfaction.

Motivated employees stay on for long to achieve their goals. Job responsibilities, achievements, growth, self-fulfilment and recognition enhance job satisfaction levels. A candid interaction of managers with employees helps develop good relationships. Continuous coaching and genuine appreciation by the managers also enhances job satisfaction.

To cultivate an attitude of excellence in their employees, managers must provide a certain degree of autonomy. Organisations and managers desirous of excelling must therefore, work toward ensuring employee job satisfaction.

‘A happy worker is a productive worker’. The Hawthorne studies conducted at an electrical plant in Chicago from 1924-1932 revealed that employee morale and satisfaction increase productivity. Since then, management has pursued the topic of job satisfaction, as it is believed to enhance performance, reduce absenteeism, retain qualified workers and establish smooth employment relations.

Job satisfaction is a ‘pleasurable or emotional state resulting from the appraisal of one’s job and experience.’ (Locke: 1976).. It is important to realise that these attitudes vary according to individual experiences and expectations and hence there is no single unitary concept of job satisfaction.

Measures of job satisfaction

Unlike other psychometric tools, used to test a sample of behaviour, measures of job satisfaction are prone to subjectivity. However a battery of tests can be conducted to make accurate predictions. One approach is the Global Measure, which measures the overall satisfaction of the job. The second approach is the Facet Measure where satisfaction is measured on each aspect of the job.

Causes of job satisfaction/dissatisfaction

Since job satisfaction is subjective to individual experience and expectation, personality often plays an influential role. Stable personality traits could influence satisfaction or dissatisfaction at work. Type A’ personalities tend to be more aggressive, set high standards for themselves and therefore are more susceptible to job dissatisfaction. In contrast, Type B’s seem to be more relaxed and, this may reflect on their attitudes towards work. Today, there is an increasing interest in the concept of the ‘person –job- fit’ theory. The managerial implications are that people who get themselves into the right job that fit their attitudes and personalities seem to be more satisfied.

The characteristics of the job may also influence one’ is attitude towards it. This could include the physical environment like lighting, temperature and space. Work, when too difficult or easy can lead to dissatisfaction. Reward is viewed as satisfactory only when it is equitable and is in line with expectations. A friendly and supportive group at work is conducive to job satisfaction.

Consequences of job satisfaction/job dissatisfaction

Work Performance:

Though job satisfaction leads to efficiency, recent findings indicate that other factors are responsible for work performance. Today, technological and market forces play a major role in organisational efficiency. Stockbrokers, for example, would depend on the results of the stock market where a rise in share prices would probably lead to satisfaction.

Absenteeism and Turnover:

This causes tremendous cost and loss of investment. An interesting finding is that absenteeism followed by negative feedback like, loss of pay might lead to dissatisfaction and in turn a high rate of absenteeism.

Commitment:

Organisations today have expressed a lack of loyalty and commitment from employees and hence are unable to retain qualified professionals.

Recent concepts of job satisfaction

There is a growing recognition that external environmental factors play an influential role in job satisfaction. Another concept is that performance depends on the overall effectiveness of the organisation.

In today’s competitive world, management needs to continuously emulate practices that will attract and retain a highly qualified and skilled workforce. Dissatisfied employees may be forced to work due to unemployment or insecurity, but this is not in the interests of the long-term success of the organisation. Dissatisfaction may be expressed in other forms like internal conflicts, poor interpersonal relations, low trust, stress leading to workplace conflict, violence and low productivity.

Though job satisfaction is difficult to measure and is dependent on a number of factors, management may reduce levels of dissatisfaction and control workplace conflicts through common objectives like career development, training, appropriate rewards and improvements in the quality of working life.

This is a lot of latest information on Job Satisfaction. It will surely help you.

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china mobiles

OVER 25 million mobile phone users who have Chinese handsets without an international mobile equipment identity (IMEI) number won’t have to discard their phones. The industry has jointly developed a software which when uploaded to these handsets will provide the device with a unique number. This comes after a government directive asking all telcos to cut off mobile services to handsets that do not have an IMEI number by January 6, 2009.

The government is likely to extend the deadline by another three months to March 31 even as some operators have sought time till July.

IMEI is a unique 15-digit code that comes with every mobile and helps uniquely identify the handset. This number is reflected in the operator’s network whenever a call is made or received from any handset and therefore allows lawful interception of all calls. Mobile operators store these numbers in Equipment Identity Register (EIR) - so if a handset is stolen, and its owner can provide the IMEI number to his operator to ensure that all calls from this device is barred.

In October, the DoT asked telcos to install EIR so that calls without IMEI or with IMEI consisting of all zeroes are not processed. This followed investigations by security agencies looking into the bomb blasts in several Indian cities this year which revealed that mobile phones used by terrorists did not bear valid IMEI numbers.

Industry bodies representing Cellular Operators Association of India (COAI) and the Association of Unified Service Providers of India (AUSPI) — will formally approach the DoT this week seeking an extension, the representatives in these told ET. The industry will inform the DoT that customers who use these cheap Chinese handsets without IMEI numbers will not be able to afford a new handset. The industry therefore wants time to educate these customers to go in for a software update to get an unique identity number for their handsets.

“We need time to inform and educate the customer to have this software installed. This software is just being perfected and we will submit this solution to the DoT this week,” explained COAI’s director general TV Ramachandran. “These are genuine citizens who were ignorant about the IMEI number when they bought these handsets — we have to give them an alternative. Customers will have to pay a small fee, maybe about Rs 100, for the software, but this is better than throwing away the handset,” he added.

Telcos are also set to tell the DoT that since the EIR equipment has to be imported and also tested extensively before it can be installed on the networks, the process cannot be completed by January 6. “In some cases, the ordered equipment is yet to arrive, while in other cases, the equipment that has been obtained is being tested,” Mr Ramachandran added.

Besides, telcos have also demanded that the government ban the import of handsets without IMEI numbers. They have asked the finance ministry to direct the customs authorities to ban the shipment of such handsets into the country: “If these handsets are illegal and pose a security threat, how can the government allow these products into India. The operators are not to be blamed if these cheap handsets are available in the market,” said a senior executive with a telco.

Chinese handsets account for about 13.3%, or Rs 4,000 crore, of India’s total mobile market, which is about Rs 30,000 crore a year. Every month, about 16.8 lakh Chinese and locally-assembled handsets are sold in India. A GPRS-enabled Chinese handset costs about Rs 3,000, against at least Rs 5,000 for a similar branded phone. “While most Chinese imports have IMEI numbers, it is only a small percent of the devices from the country that are illegal,” explained another executive with a leading telecom company.

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