Green Shoe: ICICI Bank’s fraud

Most of the large and aggressively priced issues have a provision for a Green Shoe. It is an assurance by the company that it will protect the short term interests of the investors by buying back shares from the open market whenever the stock price goes below the issue price.

ICICI Bank had raised about 12940 Million INR for this purpose and though the stock is more than a 100/- below its issue price the company has till date bought back only a paltry sum of 185 Million INR from the open market. Their crime is aggregated from the fact that a lot of retail and institutional investors are still holding the partially paid share issued to them and they do not have any option/means to convert it to a full share.

The bank is not responsive to its customers, honest to its shareholders and its international investment arm is involved in sub prime lending… no wonder the stock is going down and is showing no signs of recovery.


Challenge Yourself – Stay Alive !

The Japanese have always loved fresh fish. But the water close to Japan has not held many fish for decades. So to feed the Japanese population, fishing boats got bigger and went farther than ever. The farther the fishermen went, the longer it took to bring the fish. If the return trip took more time, the fish were not fresh. To solve this problem, fish companies installed freezers on their boats. They would catch the fish and freeze them at sea. Freezers allowed the boats to go farther and stay longer. However, the Japanese could taste the difference between fresh and frozen fish. And they did not like the taste of frozen fish. The frozen fish brought a lower price. So, fishing companies installed fish tanks. They would catch the fish and stuff them in the tanks, fin to fin. After a little thrashing around, they were tired, dull, and lost their fresh-fish taste. The fishing industry faced an impending crisis! But today, they get fresh-tasting fish to Japan .

How did they manage? To keep the fish tasting fresh, the Japanese fishing companies still put the fish in the tanks but with a small shark. The fish are challenged and hence are constantly on the move. The challenge they face keeps them alive and fresh!

Have you realized that some of us are also living in a pond but most of the time tired and dull? Basically in our lives, sharks are new challenges to keep us active. If you are steadily conquering challenges, you are happy. Your challenges keep you energized. Don’t create success and revel in it in a state of inertia. You have the resources, skills and abilities to make a difference. Put a shark in your tank and see how far you can really go

forwarded by Augustin 🙂


famous words

these are first graders, 6-year-olds, because the last one is a classic!

1. Don’t change horses……………………..until they stop running.
2. Strike while the…………………………….bug is close.
3. It’s always darkest before……………..Daylight Saving Time.
4. Never under estimate the power of…..termites.
5. You can lead a horse to water but….. how?
6. Don’t bite the hand that…………………looks dirty.
7. No news is……………………………impossible.
8. A miss is as good as a ………………….Mister.
9. You can’t teach an old dog new……….math.
10. If you lie down with dogs, you’ll…….stink in the morning.
11. Love all, trust……………………….me.
12. The pen is mightier than the……….pigs
13. An idle mind is…………………….the best way to relax.
14 Where there’s smoke there’s………….pollution.
15. Happy is the bride who……………..gets all the presents.
16. A penny saved is………………..not much
17. Two’s company, three’s …………..the Musketeers
18. Don’t put off till tomorrow what…… put on to go to bed.
19. Laugh and the whole world laughs with you, cry and……….you have to blow your nose.
20. There are none so blind as………….Stevie Wonder.
21. Children should be seen and not……..spanked or grounded.
22. If at first you don’t succeed………….get new batteries.
23. You get out of something only what you………. see in the picture on the box.
24. When the blind lead the blind………..get out of the way.
And the WINNER and last one!

25. Better late than………………. pregnant


Miracle Love

Among the latest commercials, my favourite is the ‘Pond’s age miracle’ one.

Its simple and catchy and brings out the message with its attractive presentation.

Google took me to its site and it looks like various versions of the same advertisement has been telecasted periodically but with the same message.

The present one is loaded with romantic feel good scenes , where a oh so handsome (hmm..that’s the best part 😉 ) guy wearing a chef’s cap seats an impeccably dressed woman and asks her if she is expecting anyone …. she says “hopefully” with mischief twinkling in her eyes. She enquires what the chef’s special is and he bends down to her ears and whispers ‘you’ in a caressing tone. The stage is all set now.

After which the product promotion portrays the lady using the ‘miracle’ and becomes perfecto in seven days flat and the guy falls in love with her all over agai (ok ok…I agree its a bit too much to take…but , u know…).

The last scene has the happy wife twiddling her pearl strings and dreamily asking him ‘do u accept cards’ and the awesome handsome hubby dear says ‘only if it says….I love you’ . is so impressive.

Coming to the main point here. Now lets see what the message says….
“you want to be noticed by your man…use ponds miracle”.

Its not like its their initial days of courting…she is rekindling interest here. I wonder why he had lost interest in her in the first place.

Is it because she looks ‘aged’ ? What about her other virtues ? Is’nt beauty just skin deep or even less than that ?

I somehow like the commercial that portrays a women feeling elated when she is admired for her flawless skin by all .

As for messages , I like the ad where a woman is mistaken for a college student and just then a little girl comes running calling her ‘mummy’ and hugs her. The mother takes all the surprised glances in her stride and flashes a confident smile.

C’mon Ponds , Shiseido , L’oreal and the likes….high time you introduced a ‘miracle’ that drives sense into men who ignore their girls because she is ‘ageing’ !



I find the female body attractive. But I by what figment of imagination can anyone even think that exposing your under cleavage sexy?
low cut jeans

I am ok with a woman exposing her skin or even dressing up in a manner which to some looks trashy, but these low cut jeans is actually promoting nudity in public. Also this mooning is intentional and is not because I am a pervert who is always on the lookout for a wrong view.

BTW looks like google image search never gives me the answers I want. What kind of image search engine do you guys use?


indian Independence quiz

1. When mutinies against British rule broke out in northern India in 1857, the Bengal Army, composed of Indian soldiers under British command, had 139,000 soldiers. How many sided with Britain, and how many with the mutineers?
78,000 for Britain; 61,000 for the mutineers
7,800 for Britain; 131,200 for the mutineers
110,000 for Britain; 29,000 for the mutineers
23 for Britain; 138,977 for the mutineers

2. In 1901 India’s population was 300m. How many Britons lived in India and ruled over them?

3. Mohandas Gandhi is more commonly known by the honorific “Mahatma”, which means what?
“National father”
“Spiritual leader”
“Great soul”
“Child of God”

4. What was Gandhi holding on March 12th 1930 when he announced to a crowd, “With this _____ I am shaking the foundations of the British Empire”?
A policeman’s collar
A document pronouncing India’s independence
A handful of salt
A length of spun cotton

5. What did Gandhi say “accentuate[s] the evil nature of man” and lets “bad men fulfil their designs with greater rapidity”?
Assembly lines

6. Which of these most accurately describes Mahatma Gandhi’s murderer?
He was a Muslim who believed he was waging a “holy war” against Hindu occupation
He was a spurned political rival
He was a Hindu enraged by the creation of Pakistan
He was a Sikh enraged that the partition of India created separate Hindu and Muslim countries, but denied self-rule to the Sikhs

7. About how many people were uprooted during the sectarian violence that broke out during the partition of British India into independent India and Pakistan in 1947?

8. How did Kashmir, with its predominantly Muslim population, come to have a Hindu ruler at the time of partition?
The British hastily installed a puppet maharajah as they were leaving
The same family ruled Kashmir for a millennium; they resisted the spread of Islam and remained Hindu
The British had awarded the state to a Hindu soldier 50 years earlier
The British had sold the state to a Hindu maharajah 100 years earlier

9. Jawaharlal Nehru, India’s first prime minister, wrote that religion:
“Is, as a Russian said, the opiate of the masses”
“Waters the rich and loamy soil of our Mother India”
“Has not only broken our backs but stifled and almost killed all originality of thought or mind”
“Thrives in our beloved India as nowhere else on Earth, and without it we would be immeasurably poorer”

10. In a letter to his wife from a colonial jail, Nehru wrote that he saw himself as:
“A traveller, limping along in the dark night”
“A warrior of the spirit, bound to call our nation to greatness”
“An attendant lord, one that will do to swell a progress, start a scene or two”
“One fated to make a lasting mark”

11. What happened on April 7th 2005 for the first time since the partition of India and Pakistan?
Indian and Pakistani troops exchanged fire across the Siachen glacier in Kashmir
A passenger bus drove between the capital of Indian-controlled Kashmir and the capital of Pakistani-controlled Kashmir
A gate at the Kashmiri border was left open all night
England won a test match against India

12. Rahul Gandhi, a young MP, is sometimes rumoured to be a possible candidate for prime minister. Which of his blood relations did not hold that office?
His great-grandfather
His grandfather
His father
His grandmother

Its hard to believe that an american periodical (with an predominantly american audience will publish this)
I got 8 correct what about u?


Quick Eye Exam…

Count the number of F’s in the following text:


Managed it?

Wrong, there are six — no joke!
Read again!

The reasoning is further down…

The brain cannot process the word “OF”.


There ought to be a law

Lorenz’s Law of Mechanical Repair: After your hands become coated with grease, your nose will begin to itch.

Anthony’s Law of the Workshop: Any tool, when dropped, will roll to the least accessible corner.

Kovac’s Conundrum: When you dial a wrong number,you never get an engaged one.

Cannon’s Karmic Law: If you tell the boss you were late for work because you had a flat tire, the next morning you will have a flat tire.

O’brien’s Variation Law: If you change queues, the one you have left will start to move faster than the one you are in now.

BELL’S THEOREM When the body is immersed in water , the telephone rings.

RUBY’S PRINCIPLE OF CLOSE ENCOUNTERS The probability of meeting someone you know increases when you are with someone you don’t want to be seen with.

WILLOUGHBY’S LAW When you try to prove to someone that a machine won’t work, it will.

ZADRA’S LAW OF BIOMECHANICS The severity of the itch is inversely proportional to the reach.

REDA’S RULE At any event, the people whose seats are furthest from the aisle arrive last.

OWEN’S LAW As soon as you sit down to a cup of hot coffee, your boss will ask you to do something which will last until the coffeee is cold.

HOWDEN’S LAW You remember you have to mail a letter only when you’re near the mailbox.


Casino Blonde

Casino Blonde

Two bored casino dealers are waiting at the craps table.
A very attractive blonde woman arrived and bet $20,000 on a
single roll of the dice.

She said, “I hope you don’t mind, but I feel much luckier when
I’m completely nude.”

With that, she stripped from the neck down, rolled the dice and yelled,
“Come on, baby, Mama needs new clothes!”

As the dice came to a stop she jumped up and down and squealed…

She hugged each of the dealers and then picked up her winnings
and her clothes and quickly departed.

The dealers stared at each other dumfounded.
Finally, one of them asked, “What did she roll?”
The other answered, “I don’t know – I thought you were watching.”

MORAL: Not all blondes are dumb, but all men are men.

education News

Do Big Alma Maters Matter?

This article in CNN describes some of the statistics about the correlation between good schools and colleges and entrepreneurship. It also tries to do some explanation

When it comes to success in the technology arena, entrepreneurs’ choice of schools isn’t nearly as important as what they study, and for how long.

That’s the down-to-earth conclusion of a report released in June by the Kauffman Foundation. Founding a tech company doesn’t require an elite university degree, whether it’s in the U.S. or anywhere else.

The study bases its findings on interviews with 144 Indian, Chinese, and Taiwanese immigrant company founders culled from surveys of 1,572 companies in 11 tech centers across the country.

“It doesn’t matter which university you get your degree at,” said Vivek Wadhwa, the study’s lead author. “What matters is the level and the field of education.”

The survey found that more than half of foreign-born entrepreneurs came to the U.S. solely for an education. Close to 40% came for work. Fewer than 2% came with the express purpose of starting a company.

Immigrant founders of U.S. tech and engineering companies are highly educated in what educators call the STEM subjects — science, technology, engineering and mathematics.

That was expected, says Wadhwa, a former entrepreneur who is Executive in Residence at Duke University’s Pratt School of Engineering.

Almost all immigrant founders in the study — 96% — had bachelor’s degrees. Forty-seven percent had master’s degrees, and close to 27% had doctorates.

Of those degrees, 75% were in STEM areas. Engineering accounted for 44% of the degrees.

Over half of the immigrant founders — 53% — earned their highest degrees from U.S. universities. But no top-tier university in the U.S. or abroad got particular credit for producing tech entrepreneurs.

That was a surprise, Wadhwa says. It’s good news for less prestigious schools and the students who attend them.

“From the U.S. perspective, M.I.T and Stanford didn’t have any advantage in developing successful entrepreneurs over some small university in the Midwest,” said Wadhwa.

The situation is similar in India, where tech success is practically synonymous with the subcontinent’s seven famed India Institutes of Technology. But the research shows that the IITs graduated only 15% of the Indian tech company founders.

“IITs aren’t what we feared,” Wadhwa said.

Institutions ranked below the IITs are exulting at the news, which got wide coverage in the Indian press, he says. Researchers at Duke and the University of California, Berkeley, conducted the study.

It follows a January report showing over a quarter of U.S. tech and engineering companies started between 1995 and 2005 had at least one foreign-born founder.

That a top-tier university education isn’t necessary for success shouldn’t be surprising, says Arthur Schwartz, deputy executive director of the 50,000-member National Society of Professional Engineers.

“It is absolutely the kind of education that the individual receives rather than the institution that provides it,” he said.

Education in certain fields are often a tried-and-true path to success, Schwartz says.

“Historically science, technology, engineering and mathematics have been social levelers for getting ahead for all groups,” he said.

Those looking at the tech professions from the outside in also agree that a particular university pedigree isn’t everything.

“There are certain critical thinking and higher order skills that can’t be transmitted via education,” said Forrester Research (NASDAQ:FORR) analyst Sam Bright. “So where you go to school is not the be-all and end-all.”

Whether study findings will affect investors who fund entrepreneurs is the bigger question, he says.

“The real test of this report is how open-minded angels or venture capitalists will be to expanding their filter beyond the brand of a particular school,” Bright said.

It also addresses what’s sometimes forgotten in the immigration debate, says Raman Unnikrishnan, dean of the College of Engineering and Computer Science at California State University, Fullerton.

“The discussion tends to focus on the negative aspects of immigration,” Unnikrishnan said. “Often immigrants are evaluated in terms of employment rather than entrepreneurship.”

But foreign-born entrepreneurs make a significant contribution to the U.S. economy, he points out.

“Immigrant-founded firms have created wealth and employment opportunities for all Americans,” Unnikrishnan said. “When political heat comes to bear, people forget that aspect of immigration.”

There are culture-specific reasons why foreign-born entrepreneurs are successful in the U.S., according to Unnikrishnan.

If the Indian tech and engineering graduates noted in the study had remained in India, they could not have taken the same entrepreneurial paths, he says.

“The U.S. allows failure,” Unnikrishnan said. “Older cultures like India do not.

“That is a profoundly important contribution that the U.S. education system and culture imparts to these bright foreign graduates who come here as immigrants.”