It also happens in Developed Country

Well, I am currently in Saint Louis, MO and was surfing through you tube regarding the history of St. louis and found this shocking video. Please watch it.


Savage Inequalities by Jonathan Kozol, East St. Louis




East St. Louis has produced the great people like Jimmy Connors, Jackie Joyner-Kersee.

Also, Jonathan Kozol who has created the video, is a non-fiction writer, educator, and activist, best known for his books on public education in the United States.

Reliance Bubble?

I could not stop 'copying' this on my blog.

As the Sensex moved past 18000, the Ambanis crossed another milestone -that of the richest family on earth. The combined wealth of Mukesh and Anil is now over $90 billion, more than the net worth of Walton family -promoters of Wal-Mart. Now consider this, only 53 countries had GDP of over $90 billion in 2006 as per World Bank data!

Reliance Industries, Mukesh's flagship, is the best performing large-cap index stock anywhere in the world this year by a wide margin. The stock has been on a relentless up-move, triggered by speculation on pricing of natural gas from its KG Basin fields and expectations of fast expanding retail operations. The gas pricing has now been finalized and it is a fair deal to Reliance. High crude oil prices will ensure record refining margins at its refinery and the petrochemicals businesses are also doing very well.

But, do all these factors - many of them known even earlier - warrant a more than doubling of the stock price? Reliance's much talked about retail roll out is slowing down as the company is facing resistance in many states.

Given the uncertain political scenario at the centre and possibility of an early election, it is unlikely that state governments will move in favour of the company - though it has every right to receive protection from violent protesters.

Even if the company manages to expand its network, using the famous Reliance ability to work the system, how profitable are these stores going to be - given the rush of new players into retail and prohibitive property costs? The small neighborhood I live in already has seven modern branded retail stores on one street, including a Reliance Fresh! It is doubtful if anyone other than the landlords are going to make any money out of the retail revolution anytime soon.

Reliance Petroleum, the latest jewel in Mukesh's crown, now boasts of a market capitalization of close to Rs78,000 crore. This is for a company, which is setting up an oil refinery and may start operations in another two years if all goes well. Many things can go wrong in between; the US economy may cool off further, which will lower fuel demand and bring down prices.

Margins are already under pressure despite record crude oil prices, though Reliance Petroleum will enjoy higher than industry margins by processing heavier crude oil. The US dollar may weaken further, making exports of refined products less lucrative. Domestic demand is not rising fast enough to absorb the possible surplus capacity.

RPL's market value of Rs78,000 crore seems even more incredible when the total project cost of the refinery is Rs27,000 crore! So, even when the project is at the implementation stage, the company is enjoying a value of nearly thrice the total cost. Once the refinery becomes operational,imagine the future value it must generate to justify these valuations!

To put it in another way, RPL's current valuation is nearly two-thirds of Infosys. That much wealth was created without even 5 per cent of the effort Murthy, Nilekani and thousands of Infosys employees put in over the last 25 years to make Infosys what it is today. Reminds you of website valuations in the late '90s? Wait until you hear about the miracles that the Anil Ambani Group stocks have performed.

Not to be outpaced, Anil Ambani has also taken a leaf out of big brother Mukesh's 'wealth creation strategy'. If Mukesh can generate so much wealth just by taking a new project public, why can't Anil? So, he decided to take hive off the big power projects from Reliance Energy and announced the creation of Reliance Power. How much capacity is Reliance Power going to build? The sky is the limit it seems, as the company has announced plans for 12 projects with an aggregate capacity of more than 24,000 MW. That is more than the existing capacity of NTPC, the biggest power generation company in the business now. Impressive, indeed.

What else can Reliance Power do? There is some market talk of huge cement plants, which will use the fly ash from its own power plants as raw material. Some reports suggest that the potential capacity may be more than the existing capacity of the entire cement industry in the country. Even more impressive! Where will the company sell all that cement? Please don't ask such dumb questions!

But how profitable are these projects likely to be? Reliance Power's flagship project will be the 4,000 MW ultra-mega power project at Sasan, which by the way is its only project that can be implemented anytime soon.

This project was awarded to Reliance Energy after the earlier awardee, Lanco-Globeleq, was disqualified. The tariff quoted by Reliance is Rs1.2 per unit, which must be among the lowest anywhere in the world. When the project was awarded to Lanco, many doubted whether the project would ever be profitable at such low tariffs. Now that the project is with Reliance, the markets have no doubt it will be a money-spinner.

All the troubles Reliance Energy continues to face on its 7,500 MW Dadri project in Uttar Pradesh have also been overlooked. Even nearly two years after announcing the project, it is still not clear if the company has completed its land acquisition. It does not help that the current Uttar Pradesh government is sending not very supportive signals over the project because of Anil Ambani's political interests. Nothing much has been heard about a similarly ambitious project proposed in Orissa, announced last year.

When the Reliance Energy stock was moving on all these fantastic news flows, came the announcement that the company would develop a huge township in Andhra Pradesh. The centrepiece of this township is to be a 100-story high-rise, the tallest in the country - no less. And the stock jumped another 12 per cent!

All these stories of fantastic valuations pale in comparison to Reliance Natural Resources or RNRL. Here is a company that was originally supposed to buy natural gas from Reliance Industries and supply it to various Reliance Energy projects. In other words nothing more than a gas trader. Then markets started to see infinite possibilities for the company in the entire energy space - from exploring for oil and coal bed methane to city gas distribution. The company won three or four coal bed methane blocks in Rajasthan and a small oil block in Mizoram in the last round of NELP bidding.

These are all exploration blocks, mind you, and RNRL has to drill and find something under the ground. But the RNRL stock has behaved as if the company is already sitting on huge oil and gas reserves.

RNRL now boasts a market capitalisation of around Rs13,500 crore. Incredible as it may sound, the last leg of the surge came after the company applied for a licence - just an application that might have cost a few thousand rupees - for city gas distribution. That news pushed up its market value by around Rs3,000 crore in a single day. Indraprastha Gas, the leading city gas distributor in the country with a monopoly in Delhi and now expanding to other cities, has a market value of just Rs1,900 crore!!

Source : Bola na Yahan Wahan Se Mara!!!

Fly

Sometimes it happens on some day that nothing goes fine and you feel really really frustrated at the end of it. A fly made my day miserable yesterday.

Lately, there are lot of flies intruded in my apartment and I spend almost half an hour running around them and killing them (don't tell to Maneka) in order to stop from them populating more and more. Yesterday I completed the assasination and almost reached the level of frustration and then was going through somebody's scrap book on Orkut and found this

Arrrrghhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh!!!!

Where Does Google Get All Its Hard Drive Space?

Goonji si hai...

The lyrics and the actions in the video somehow do not match 100%. But still its the best by Sadhna Sargam. Just Melodious!!

The Sensex story: From 1K to 18K

Indian markets achieved yet another milestone on Tuesday. The Sensex crossed the 18,000-mark on the back of renewed buying today. The index hit a fresh all-time intra-day high of 18,327. It took just 8 trading days to hit 18,000 from the 17,000 mark. The last 2,000 points have come in a short span of just 13 trading sessions.
Following is the timeline on the rise and rise of the Sensex through Indian stock market history.

1000, July 25, 1990
On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon and excellent corporate results.

2000, January 15, 1992
On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.

3000, February 29, 1992
On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.

4000, March 30, 1992
On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy। It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.

5000, October 8, 1999
On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.

6000, February 11, 2000
On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006.

7000, June 20, 2005
On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy, Reliance Capital and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time.

8000, September 8, 2005
On September 8, 2005, the Bombay Stock Exchange's benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading.

9000, November 28, 2005
The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors.

10,000, February 6, 2006
The Sensex on February 6, 2006 touched 10,003 points during mid-session। The Sensex finally closed above the 10K-mark on February 7, 2006.

11,000, March 21, 2006
The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during mid-session at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points.

12,000, April 20, 2006
The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.

13,000, October 30, 2006
The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024।26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000.

14,000, December 5, 2006
The Sensex on December 5, 2006 crossed the 14,000-mark to touch 14,028 points। It took 36 days for the Sensex to move from 13,000 to the 14,000 mark.

15,000, July 6, 2007
The Sensex on July 6, 2007 crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000

16,000, September 19, 2007
The Sensex scaled yet another milestone during early morning trade on September 19, 2007. Within minutes after trading began, the Sensex crossed 16,000, rising by 450 points from the previous close. The 30-share Bombay Stock Exchange's sensitive index took 53 days to reach 16,000 from 15,000. Nifty also touched a new high at 4659, up 113 points. The Sensex finally ended with its biggest-ever single day gain of 654 points at 16,323. The NSE Nifty gained 186 points to close at 4,732.

17,000, September 26, 2007
The Sensex scaled yet another height during early morning trade on September 26, 2007. Within minutes after trading began, the Sensex crossed the 17,000-mark . Some profit taking towards the end, saw the index slip into red to 16,887 - down 187 points from the day's high. The Sensex ended with a gain of 22 points at 16,921.


18,000, October 09, 2007
The BSE Sensex crossed the 18,000-mark on October 09, 2007। It took just 8 days to cross 18,000 points from the 17,000 mark. The index zoomed to a new all-time intra-day high of 18,327. It finally gained 789 points to close at an all-time high of 18,280. The market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term backed by frenzied buying after the news of the UPA and Left meeting on October 22 put an end to the worries of an impending election.

Stolen From: http://www.rediff.com/

IT pros can't avoid tax on foreign earnings

In a ruling which could affect tax payments of thousands of employees of Indian IT companies earning mega bucks on overseas assignments, the Authority of Advance Rulings (AAR) has said that that there was no escape from paying tax on the amount earned during a stint with the employer's foreign affiliates.

If there was a deputation income, tax had to be paid either in India, if it had not already been paid abroad, and even a tax treaty would not rescue IT professionals.

"The ruling is relevant for the determination of the income of non-resident employees sent on deputation abroad, as it specifies that it may not only be in India but also other contracting state which may have the right to tax same income, depending on the provisions contained in the treaty. In a cross-border world with a growing trend of mobile executives, this ruling could have a significant impact," legal and tax consulting firm Nishith Desai & Associates said.

Income tax department officials, buoyed by the ruling, said this could form the basis for dealing with a host of similar cases. The logic, they said, was simple. "If the company is subject to Indian tax laws, the employee will have to pay taxes in India even if the income was earned overseas and the manager had claimed NRI status by virtue of having spent the stipulated number of days outside the country."

In the case between the tax department and S Mohan, an Infosys employee who went to Norway on deputation, Mohan claimed NRI status for tax purposes saying he spent over 183 days outside the country during 2005-06. Though he paid income tax on the salary he received in India, Mohan sought an AAR ruling on the deputation amount he earned since he believed he did not have to pay taxes on it.

The clause relating to "dependent personal services" (DPS) in the India-Norway tax treaty specified that the remuneration earned by DPS provider would be taxable in the state of residence (India). When the service was provided in another contracting state the other state could also tax it.

The clause relating to elimination of double taxation provided that where the income earned by an Indian resident was taxed in Norway, the government will have to deduct tax paid in the European country from the tax paid in India.

"In this case the applicant failed to provide any proof that he was taxed in Norway or that he had paid tax to Norway, and it was held that the applicant was liable to pay tax in India and he was not eligible to get any relief under the treaty," it said.

Borrowed From : http://timesofindia.indiatimes.com

मी नथुराम गोडसे बोलतोय

या नाटकातले काही मला आवडलेले संवाद

"....मला चिरतारूण्याचा आशिर्वाद तात्याराव सावरकरांनी दिलाय. तात्याराव सावरकर - सूर्याची उबदार प्रखरता, वाऱ्याचा वेग, खडकांना हेवा करावा अशी कठोरता आणि साक्षात बृहस्पतिंनी शिष्यत्व पत्करावा इतकी बुद्धिची प्रगल्भता या सर्वांनी धारण केलेला मानवी अवतार म्हणजे तात्याराव सावरकर ...."

"... तात्यारावांचे शब्द ते, शिलालेखच जणू. तात्यारावांनी उच्चारलेला प्रत्येक शब्द म्हणजे भेद आणि लिहिलेला प्रत्येक शब्द म्हणजे वेद ..."

"... भवानी तलवार लोखंडाची असली हे जरी सत्य असला तरी प्रत्येक लोखंडाचा तुकडा भवानी तलवार असू शकत नाही..."

"... महाराजानी स्पर्श केला म्हणून तलावारीची भवानी झाली. तलावारीच्या पात्यापेक्षा मूठ जास्त महत्वाची. मूठीवरच्या पकडीमधे जिद्द असेल तर तलावारीला धार येते ..."

"... जगाला हिंसेपेक्षा अहिंसाच जास्त आवश्यक आहे. पण गांधींची अहिंसा स्वसंरक्षण, स्वहित नाकारते. स्वसंरक्षण म्हणजे हिंसा नव्हे. स्वतःच्या अस्तित्त्व रक्षणासाठी धडपडणे याची व्याख्या हिंसा, असा करणारी अहिंसाच म्हणजेच स्वहिंसा नव्हे काय? ..."

सम्पूर्ण नाटक बघा. भाग १ ते १४

भाग ०१

भाग ०२

भाग ०३

भाग ०४

भाग ०५

भाग ०६

भाग ०७

भाग ०८

भाग ०९

भाग १०

भाग ११

भाग १२

भाग १३

भाग १४

My New Friend in US

I got so may new friedns here in US and here is a lil about them.

For all kind of fresh vegetables and special whole wheat bread.

For any thing that you want from shoes to toothbrush, from iron board to tissue papers, from photo frames to voice recorders and from car tyres to duplicate keys.

Thats the small brother of wal mart. Anything and everything that you want in wholse sale.

QuickTrip aka QT : Weekly food for the car.

I dont go there much but for any kind of new cloths this is the best place to be. You can spend hours looking for the perfect thing.