A WEB OF LIES


How the wings of time fly,
To be a king one day-
Reduced to a pauper on another.
It was a Wednesday unlike all others.

The dreams of thousands crashed,
As one man confessed,
To a heinous crime,
At a most unfortunate time.

He had misused the trust-
And money that thousands-
Had entrusted with him.
The future is dark and dim.

Will justice be denied yet again?
As the rich and powerful,
Continue to make a mockery-
Of the laws of the land........

This was written in the aftermath of Satyam Raju's confession of misappropriation of funds.

The future is bleak for the thousands employed across Satyam's various branches.

The point to be noted is Global Trust Bank which had a similar fiasco some years back and Satyam-the shares of both these companies were traded aggressively by Ketan Parekh who rigged the stock market.

As more skeletons tumble out will SEBI and the government finally open their eyes and take stringent and prompt action.

I doubt, because in India if you have money, power, and have the right connections you can get away with anything.

A Tale of Two Businesses.....

Each street has its small shop, where one gets to buy grocery, provisions, newspapers, soft drinks and other articles of daily use. The shopkeeper is trustworthy and he personally caters to the needs of his customers. He loves children the most and always has special chocolates and ice creams for them. I grew up in such an atmosphere and loved Kumar Annachi, who ran a small provision shop at the end of our street.

All cities in India are dotted by countless such shops which are managed by Agarwals, Singhs, Nairs, Raos and Sens and Guptas. India entered into the era of globalisation and modernisation in the late eighties and early nineties, the concept of malls, where all items were made available under one roof began to gain acceptance among the common public. Shopping Arcades like-Spencer's Plaza, Singapore Shopping Centre, Forum, Shriram Arcade, Alsa Mall, began to do brisk business.

This led to the boom in the retail chain management. Brands like Lifestyle, Westside, Pantaloons, Subhiksha, Vitan made an entry into the Indian market. The convenience of a complete shopping experience appealed to the common man, and the early days of the IT boom saw the pay-packets becoming fatter. Suddenly there was a lot of money to spend and a lot of products to buy. The commercial boom had started.

Now Reliance has moved into the retail segment and started its chain of Fresh stores, which sells vegetables, fruits and provisions. Reliance has appointed people to source the vegetables and fruits directly from the farmers to avoid any brokerage to be paid to middlemen. The traders in Koyambedu one of the largest vegetable markets in India, have started a protest demanding Reliance to close down, as they say they are losing their customers.

Wal-Mart is all set to start operations in India through a tie-up with the Bharti(Airtel) group. If Bharti enters India, then it will be a catalyst in the death of small business groups. Already Walmart has led to the death of many shops across America.

On the flip side these entrants in the retail market promise to provide employment to around 75, 000 people by the end of the year 2007. Young men and women are gettting jobs as salespersons with a decent salary of Rs 4,000 to Rs 5,000. So in a way it is good for the economy.

So how will the system work, will both sides co-exist or will the multinational giants take over the small traders, only time will tell.