»Click here to calculate your site FeedRank Today«
FeedRank, a newly developed algorithm for ranking RSS feeds only on RSSMicro
Click here to learn more
 4/10 Good --- desicritics.org http://desicritics.org/categories/biztech.xml
| Superior South Asian bloggers on Culture, Media, Politics, Sport, Business, and Technology. ... |
Saturday, July 19, 2008 --- 41 days ago http://desicritics.org/2008/07/18/171822.php
| It is one of the strange vagaries of modern Indian business that some of the largest companies exhibit concentration of captial to an extent not dreamed of by even the robber barons of the 19th century. Even with publicly listed companies, the mostly rubber stamp board allows significant decisions to be taken by the CEO, who in many cases is accountable to pretty much no one. While the institutional investors might not object as long as their interests are protected, there is an insidious effect of long-term erosion of capital and confidence that goes beyond even what one might expect with neo-liberal economies. The bull run of the last few years has emboldened the corporate satraps to disregard even their erstwhile political cronies. The acrimonious Reliance conglomerate break-up and continuing feud has been reported in the business pages much like a celebrity hatefest in the gossip columns. The growing potential for irreparable damage to a significant tranche of capital due to impulsive decisions derived more from personal animosity than business rivalry has been ignored, or overlooked in the heady period of a bull market. Recent events might mean it is time for greater regulation of the fragmented conglomerate, if only to preserve Indian credibility in global markets. The Mukesh Ambani-founded Reliance Communications went to Anil Ambani under the terms of the breakup agreement, currently controlling close to 66.75% of the compa ... |
|
|
Recent Posts
|
|
|
Facebook Del.icio.us Digg StumbleUpon Reddit Google
Anytime
