Happy Rakhi to everybody and lets pray no guy was ambushed today (esp not like this one)
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Month: August 2007
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Power Grid IPO
Date: 10th -13th Sept.
Price band: 44-52
No of shares: 573,932,895 equity shares
PE:
Issue Size: Rs 2984 crore.
Pros:
1) PGCIL (power grid corporation of India Ltd) is the country’s principal power transmission company and Mini-Ratna.
2) Since I believe the infrastructure esp. power is going to drive India’s second phase of development, this company is well poised to benefit from it. It owns and operates almost all of the nation’s interstate and inter-region transmission systems. (61,875 km of transmission line and 106 substations) Last year about 298 billion units were transmitted through their infrastructure (about 45% of the power generated).
3) This company has no competitors and even in the next 10-15 years, I do not foresee any other infrastructure company (indian or foreign) to pose a threat. This is primarily because Power grid has acquired a lot of land for the transmission lines at very low prices, and it would be very tough for another company to replicate their model.
4) PTC (power trading corporation) is soon going to start up a electricity trading board where states can sell and buy power at real time. All this power is going to go through the national power grid… So the company positioned to benefit from this is Power Grid Corporation.
5) The country is going for Mega (larger) power plants which satisfies the need of the region instead of having numerous power plants in individual cities. This creates a big business opportunity for Power Grid.
Cons:
1) Transmission lines have huge infrastructure and fixed costs. Along with the land value, an interstate power transmission lines often costs more than the power plant itself.
2) This a a government owned company (bureaucratic losses, red tape etc.) so it might take a couple of years for it to generate some real wealth for the investors.
In short over a 3-5 year horizon, this company should do wonders (just like NTPC), but in short term it might not generate sufficient wealth for the investors primarily because of its inefficient governmental legacy.
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Notebook
It was a busy morning, approximately 8:30 a.m., when an elderly gentleman in his 80s, arrived to have stitches removed from his thumb. He stated that he was in a hurry as he had an appointment at 9:00 am.
I took his vital signs and had him take a seat, knowing it would be over an hour before someone would to able to see him. I saw him looking at his watch and decided, since I was not busy with another patient, I would evaluate his wound.
On examination, it was well healed, so I talked to one of the doctors, got the needed supplies to remove his sutures and redress his wound.
While taking care of his wound, we began to engage in conversation. I asked him if he had another doctor’s appointment this morning, as he was in such a hurry. The gentleman told me no, that he needed to go to the nursing home to eat breakfast with his wife.
I then inquired as to her health. He told me that she had been there for a while and that she was a victim of Alzheimer’s disease. As we talked, I asked if she would be upset if he was a bit late. He replied that she no longer knew who he was, that she had not recognized him in five years now.
I was surprised, and asked him, “And you still go every morning, even though she doesn’t know who you are?”
He smiled as he patted my hand and said, “She doesn’t know me, but I still know who she is.”
This touching story is from source
BTW if u have not watched the movie notebook… go grab a DVD.
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They walk among us
I was at the checkout of a K-Mart. The clerk rang up $46.64 charge. I gave
her a fifty dollar bill. She gave me back $46.64. I gave it back to her and
told her that she had made a mistake in MY favor and gave her the money
back. She became indignant and informed me she was educated and knew what
she was doing, and returned the money again. I gave her the money back
again…same scenario! I departed the store with the $46.64.
…………….They Walk Among Us and Many Works Retail.
One day I was walking down the beach with some friends when one of them
shouted, “Look at that dead bird!” Someone looked up at the sky and said,
“Where?”
…………….They Walk Among Us !!
I used to work in technical support for a 24/7 call center. One day I got a
call from an individual who asked what hours the call center was open. I
told him, “The number you dialed is open 24 hours a day, 7 days a week.” He
responded, “Is that Eastern or Pacific time?”
…………….They Walk Among Us!
My sister has a lifesaving tool in her car designed to cut through a seat
belt if she gets trapped. She keeps it in the trunk.
…………….They Walk Among Us!
I couldn’t find my luggage at the airport baggage area, so I went to the
lost luggage office and told the woman there that my bags never showed up.
She smiled and told me not to worry because she was a trained professional
and I was in good hands. “Now,” she asked me, has your plane arrived yet?”
…………….They Walk Among Us!
While working at a pizza parlor I observed a man ordering a small pizza to
go. He appeared to be alone and the cook asked him if he would like it cut
into 4 pieces or 6. He thought about it for some time before responding.
“Just cut it into 4 pieces; I don’t think I’m hungry enough to eat 6
pieces.”
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Instructions
NOT TO BE USED AS PROTECTION FROM A TORNADO
found on a Taiwanese towel
REMEMBER, OBJECTS IN THE MIRROR ARE BEHIND YOU
helmet mounted mirror for US cyclists
USE REPEATEDLY FOR SEVERE DAMAGE
Taiwanese shampoo
THIS PRODUCT IS NOT TESTED ON ANIMALS
found on New Zealand insect spray
OPEN OTHER END
found on the bottom of Coke bottles
PRODUCT WILL BE HOT AFTER HEATING
Marks and Spencers bread and butter pudding
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A big, burly man visited the pastor’s home and asked to see the minister’s wife, a woman well known for her charitable impulses.
“Madam,” he said in a broken voice, “I wish to draw your attention to the terrible plight of a poor family in this district. The father is dead, the mother is too ill to work, and the nine children are starving. They are about to be turned into the cold, empty streets unless someone pays their rent, which amounts to $400.”
“How terrible!” exclaimed the preacher’s wife. “May I ask who you are?”
The sympathetic visitor applied his handkerchief to his eyes. “I’m the landlord,” he sobbed.
What’s the difference between out-laws, and in-laws?
Out-laws are wanted.
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A man was driving home his new car and was fascinated by all its new bells and whistles… but he had this strange feeling that he had forgotten something.
He felt his pocket and found his billfold; he had his keys and checkbook; he had everything and yet the feeling persisted. As he drove in his driveway, his daughter ran out to see their new car, stopped short, and cried, “Daddy? Where’s Mommy?!”
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Regulation
Being born under License Raj, I always feel that regulations is bad. The only thing it does is add shackles and more red tape. But then this article throws a valid new viewpoint.
Back in the nineteen-seventies, an economist named Thomas Schelling, who later won the Nobel Prize, noticed something peculiar about the N.H.L. At the time, players were allowed, but not required, to wear helmets, and most players chose to go helmet-less, despite the risk of severe head trauma. But when they were asked in secret ballots most players also said that the league should require them to wear helmets. The reason for this conflict, Schelling explained, was that not wearing a helmet conferred a slight advantage on the ice; crucially, it gave the player better peripheral vision, and it also made him look fearless. The players wanted to have their heads protected, but as individuals they couldn’t afford to jeopardize their effectiveness on the ice. Making helmets compulsory eliminated the dilemma: the players could protect their heads without suffering a competitive disadvantage.
Basically most people want to do things a certain way, but they cannot do it because it won’t make them look good. So in that case government regulations are good.
eg: A lot of people do not wear specs… Because it makes them feel uncool. So they have 2 options, discard the specs and watch a blurry TV 24 hours a day or go for contact lenses (which harm the eye and increases your risk of infection) So even though you are most comfortable wearing a specs, you do not even want to be spotted with it.
On a lighten tone…. why is it that people wearing specs are regarded as intelligent, who can read and write well… but those wearing a hearing aid not considered good listeners?
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Home Loan Insurance Vs Term Insurance
For most people, the Home Loan EMI is the single largest monthly expense. With the interest rates getting revised, often the wifes are forced to continue employment just to be able to run the household. Hence Home Loan Insurance is a very good scheme. It allows your family to have a house over their head even after you are gone.
However, I would advise people to go for term insurance rather than go for house loan insurance. Reasons
1) Term insurance cover remains constant for the entire period.. While after each EMI, the housing loan cover reduces. Although the insurance companies claim that they take care of this difference by reducing the premium amount, but if you do the maths and take into account that the insurance premium increases as you age, you will find that the deal is not good enough.
2) Interest Rate fluctuation: Rise of even 0.5% of interest rate would increase the EMI term for additional year, however this insurance does not give you any insurance cover for those EMI. On the other hand if the interest rate falls and the period of the loan gets reduced, the refund from the insurance premium is minuscule. (thanks to their service charges.)
3) Foreclosure: Most of us agree that even though we take a housing loan for 15-20 years, there is always a chance that we will have to foreclose… Reason could be because you have made enough money to pay of the loan dues and save on interest, or because you want to sell the house (move to a different city/bigger place) or you might to switch the loan from one bank to another… In event of foreclosure, the home loan insurance is void.
4) Full fledged term insurance gives you an opportunity to have all the additional extra benefits like disability, critical illness etc… which are not covered in the home insurance.
Hence, although I strongly recommend a person to go for a insurance the moment he takes up a long term financial commitment like housing loan (or marrying and promise to pay the wife’s shopping bills), its best to make it a plain vanilla term insurance rather than an exotic scheme like this. This scheme might look cheaper on the first glance, but due to limited benefits, it only reduces the flexibility.
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Just Don’t Cheat
i call that apt justice
I wonder whether the guy would be more sorry about the fact that his wife found out about his cheating or about what she did to his car
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Indo Nuclear Deal
Let me first start with the decision of Australia to sell Uranium to India. Its a landmark decision and the next logical deal would be France setting up nuclear reactors and power plants in India.
Brahma Chellaney, as prax had pointed out, raised a lot of questions about the deal..
Since I strongly support this deal… let me answer them one by one:
* US gains right to unilaterally terminate cooperation at will.
What is India giving up? The facilities are still its.. and USA is only providing the much needed technology and fuel to help us progress… since India is not paying or doing any irreversible damage… what does India lose if USA terminates the contract?
* No provision for instituting alternate suppliers before terminating cooperation.
Australia has already agreed to supply fuel (it has 40% of the known reserves and does more than half of the legal Uranium exports)
Russia did supply us some fuel immediately after the first draft of the deal was hinted.
so I do not think it is a pressing concern.
* India concedes to US unfettered “right of return”.
The USA can take back the equipment and fuel (which it supplied and not the other countries supplied) after it pays a fair market price for them and compensates us for the loss… I think it is a fair deal.. after all suppose in near future, if India turns rogue.. them USA won’t want India to be using US supplied equipment and fuel to start a nuclear war.
* Agreement upholds supremacy of US law.
Again… lets assume 2 scenarios…
1) India does not sign the deal.
2) India signs the deal and after 10 years the deal is canceled.
in which of the 2 scenarios do u think India would have benefited more?
* India given reprocessing right only in principle. Actual right uncertain.
Firstly.. its their fuel.. and they have full right to dictate its full use… India has imported it for generating power.. when the fuel is depleted they want it back so that we do not use it to make warheads.. after all till date almost all the reprocessing is for the warheads and there r little if any civilian uses of it.
* Fuel-supply assurance subject to US right to terminate.
India plans to use USA’a approval as an endorsement of our nuclear programme and use USA’a political clout to get more and more alternative suppliers ASAP. So that we won’t be left high and dry.
* No full cooperation.
This deal does not stop the countries to go sign a second deal 5-10 year ahead when both parties trust each other. Instead of hoping for a quantum leap.. lets take 2-3 small steps.
* India accepts IAEA-safeguarded enrichment or reprocessing is “dual-use” activity.
The only reason why this deal is happening is because USA is agreeing to provide technology and fuel for IAEA supervised facilities… now if India takes fuel away from IAEA jurisdiction.. then how can the world be assured that there is no pilferage?
* Accord provides for fallback safeguards.
Safeguards a good… Put urself in USA’s shoes.. do u think without safeguards they will hand us the fuel and technology and equipment in a silver platter?
* Agreement turns unilateral test ban into bilateral legality.
thats a misinformation… I was reading Pranab’s interpretation.. and it looks ok. Plus nowhere India has signed a pledge that India won’t be doing any more tests… All the deal says is that the moment india does the tests the deal is off… and under no circumstances it will be considered as breaking a pledge… Please read the lines in bold once more.