LaSalle sparks and the tussle begins!

IIPM PUBLICATION

The acquisition of LaSalle Bank doesn’t seem to be a smooth ride for the Bank of America. The latter, which had announced to buy LaSalle Bank Corp. and its subsidiaries from ABN AMRO Holding NV for $21 billion, is all set to face a bumpy way ahead. And the credit for all goes to a Dutch shareholders’ group VEB. Th e group is planning to file a suite to hold up the planned buyout to give other banks a fair bidding prospect for ABN AMRO Holding NV. Recently, a consortium of banks had placed a higher counter-bid for the same against the Barclays Plc’s offer of $88.5 billion. However, the acquisition, if completed, will make the Bank of America as Chicago’s largest bank and the third largest in the United States. Well, good bargains are not the easy ones!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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4Ps Release :- Get that & you’ve got the firm’s name right

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Those were the jazz musicians of 1940s and 50s who were credited with assigning this moniker – Big Apple – for New York. And closer home, it’s Munish Hemrajani who’s credited with assigning this top brand name for his belligerently emerging company, Express Retail Services Pvt. Ltd. (ERSPL). But why use ‘Big Apple’ as a brand name? Reminisces Munish Hemrajani, the founder and Managing Director, “We wanted to give a convenient shopping experience to Delhi ites within walking distance of their homes, and also wanted to give our retail stores a health-oriented image. Especially as, at that time, farm produce retail was not focussed on health standards per se – thus the brand Big Apple!”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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...Nestlé welcomes Gerber to the family

IIPM PUBLICATION

A whopping $5.5 billion all cash deal. And Gerber blissfully walked into the waiting arms of its new mommy …. For what seems like an eon now, Nestlé has coveted Gerber, and why not? The cherubic face of the Gerber tot dominates the US baby food market; with a cool 79% market share (the boys at Morgan Stanley say so!).

Peter Brabeck-Letmathe, Chairman and CEO, describes the deal as “a decisive step to establish Nestlé Nutrition as the undisputed global leader in the nutrition field.” Nestlé’s keen interest in this deal reiterates its strategy to move away from mass items like bottle milk, towards higher- margin foods. The stock markets, too, were quite indifferent to the mammoth $5.5 billion spent by Nestlé, with share prices almost flat at 483.25 francs (as on April 13).

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

...it’s time to take a realty check on the Indian microfinance sector

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Amidst a very rough and turbulencehit banking terrain, social banking in India is proving to be a smooth red carpet of opportunities. Standing proof of this is the manner in which foreign companies are hitting on India, with a huge capital base earmarked to deluge the Indian microfinance milieu. And for a reality check, here’s an update on the Indian microfinance dartboard.

Recently, behemoths like Morgan Stanley and other microfinance companies like Blue-orchard finance of Switzerland charted their entry into India along with venture capital firms like Sequoia Capital pumping in money into existing microfinance companies. For doubters, one should mention that these investments are backed by some enormous potential of microfinance in India. If past performances are any yardstick, microfinance beneficiaries in India have increased by a staggering 57% from 48,11,674 during March ‘05 to 75,68,842 in March ‘06. Thrillingly, in terms of moneys disbursed, there has been a super high of 72.5%, from Rs.13.11 billion in FY05 to Rs.22.62 billion in FY06.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

New(Zy) Land Of Lights

IIPM PUBLICATION

New Zealand is one of the success stories, where the power sector reforms have been carried out with efficacy. The-15 year-old reform process has generated adequate choice of suppliers for the consumer. This has prevented the players to refrain from unnecessarily raising the prices & hoodwinking the consumer. As a result Energy Online has been offering the best prices to Auckland Central households, and these could be as much as $200 a year cheaper than the other six retailers in the region. In Wellington, Contact Energy was a clear first choice for the cheapest electricity. Dunedin also saw the most variation across suppliers, with consumers potentially paying up to $300 a year more by being on an inappropriate tariff plan.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Money laundering?!?!

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That’s what has been India’s ludicrous response for so many years

India again seems to be gaining focus to fight against a menace called money laundering. The country established its Financial Intelligence Unit (FIU) in 2004, responsible for scrutinizing the suspected financial transactions to stop money laundering and similar crimes. Realising the fact that money laundering rackets like hawala, smuggling et al involve foreign operatives, the cabinet committee is likely to now approve sharing of information with foreign countries like the United States, United Kingdom, Canada and Australia. But most importantly, India – after years of ludicrous seat of the pants behaviour – is trying to belatedly gain membership of the Egmont Group, a body that was established as an anti-money laundering body in 1995, and which now has 101 countries and their FIUs cooperating with each other, both formally and informally.

However, surprisingly, the failure of anti-money laundering moves will keep haunting India. Th ousands of residents, Indian smugglers and criminals have unauthorized bank account in foreign shores. There are an estimated 3,000 international hawala brokers. Worldwide, allegedly, $200 billion worth of hawala trade takes place in a day. Millions of illegal money and Gold are kept in safe havens – Switzerland, Andorra, Cayman Islands, to name a few. These unauthorised funds are allegedly used for funding criminal, terrorism and narcotic activities.

It is quite unbelievable that Indian authorities had to wait for so long to accept that they also require membership of organizations like the Egmont Group. Perhaps money laundering was never a priority issue for the authorities. Even the current move lacks any orientation on how such a membership will be used pro-actively. But as they say, criticisms can come and go, for the Indian government, it’s better late than never...

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative