Wednesday, November 19, 2008

"samjho na hum bolei balei hai"- Parwazein

so today i was watching this segment on bloomberg tv. its getting super depressing to watch financial news, there is no good thing - in fact i was watching something yesterday and the reporters are like thats one good thing in the gloom and doom what is so sad that I cant remember what that one thing was.

anyway so I was watching the big 3 automakers making their case to Congress. Basically, on why the government should bail them out as well and preferably with no controls. So just give us pocketmoney and dont babysit us. Just to recap, the govt has bailed out financials, perhaps auto(?) the billion dollar question is who is next?

And whats weird to me is that how these numbers dont mean anything anymore. There was a time when 100 dirhams (conversion 25 USD) was a substantial amount. It lasted me lets say 50 lunches. well over 2 months, just counting business days/school days. Now its the talk of billions, earlier people thought they were successful when they made their first million, now that holds no value. alrite, too harsh, lets just say in the times of crorepatis, lakhpati hona koi bari baat nahin hai.

so back to the auto story, its actually not far from reality tv. Lack of bad memory, cant remember names, there was this one lawmaker who fired a direct question at the chief of GM. When will you go bankrupt. The chief hummed and erred and it was so embarassing he didnt know. I mean isnt that the most obvious question, if everyone pulls out everyone wants their money right now right this moment, what will you be left with. Isnt that an obvious stress test? Isnt that what you SHOULD know when you go to ask the government for money. Next bullet was okay how much money do you need to last you till 1st Quarter of 2009. More errr'ss....more ..stalling couldn't answer it. I am shocked I dont know how you can be the chief of this organization and not know these details. How? How can you take the utmost leadership role when you dont know (im presuming its dont know rather than dont care.) it astounds me. in their defense though, it did seem they did a lot of changes and the auto industry is not as easily mobile in terms of completely changing the infrastructure and that being said you cannot compete with cheap rents, cheap labour in outside countries.

anyway, if this were a game of chess, the next lawmaker had the ultimate check mate move.
(ok i dont play chess im just using this for dramatics) but whatever, he starts of with its the irony that you all (as in chiefs of GM, Chrysler and Ford) came in your private jets with a tin cup in your hand. Shouldnt you have jetpooled or flown first class? That is the biggest burn ever. How can they be so stupid seriously, how can you have all these selfish karchas, when you are literally saying you will be firing thousands of workers. these things will get noticed, media is watching your every single move. Now's not the time to show off. Its just beyond shocking to me. Seriously, for me first class will do I dont need a personal jet - I am not the president. I dont understand why these corporate guys need personal jets. All of these guys need a good lecture on money management from our own beloved desi cheapo ceo Azeem Premji.

My only wish for today is something miraculous happens and nobody has to lose their jobs.


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