In his recent Value Driven column (“Chris Dodd Wants to scrap Your Bonus“, FORTUNE magazine, March 16), Geoff Colvin argued that the proposed tough new limits on Wall Street bonuses in the US stimulus package will “inadvertently reward nonperformance and drive talented financiers away from the companies that need them most”. Ignoring the simplistic examples… Read More »
Unless you have been hiding under a rock for the last couple of weeks (not necessarily a bad thing, given the circumstances), you would have come across the following buzzwords (in no particular order) that will dominate news headlines in the months to come: 1. economic tsunami2. layoff3. AIG = arrogance, incompetence and greed4. stimulus… Read More »
Citigroup’s shares rallied last week, on the back of CEO Vikram Pandit’s “leaked memo” reassurring his troops that “we are profitable through the first two months of 2009 and are having our best quarter-to-date performance since the third quarter of 2007”. Shares of the financial services provider have been under constant pressure since its bailout… Read More »
Here’s a good example of how the media sometimes spin stories according to their biases. Newsweek’s “The Decline of the Petro-Czar” is a blatantly pro-Western piece aimed at bashing political leaders who do not see eye-to-eye with the imperialists in America (I’m writing this last part through my own coloured lens to balance the equation).… Read More »
The UK government has proposed a £20 levy on every household using broadband to help offset the costs of piracy, according to an article at TimesOnline. What amazes me is that the authorities do not seem to realise that such a levy is counterproductive. If someone has been a pirate, quitting now will not make… Read More »
From a post titled “Service Outage (a note from the USA)” by Tim Dickinson at Rolling Stone: Dear World, The United States of America, your quality supplier of ideals of liberty and democracy, would like to apologize for its 2001-2008 service outage. The technical fault that led to this eight-year service interruption has been located.… Read More »