Archive for April, 2007

Bill Gates

Thursday, April 26th, 2007
   ”If you can’t make it good ,   atleast make it look good “   Bill Gates   Microsoft Chairman   Rationale :   Bill do you have to say this as you have   Really made it good for the whole World .   Don’t please guide the New Gen the wrong way .   You are an Idol for the whole World , Please tell   every one to practice excellence .   Excellence is not an act but it is a passion and   hobby .It takes a few minutes to start excellence   in our human minds and it creates a chain reaction of excellence .   Prince Mohan                    Tags:
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Banksy painting fetches £240,000

Wednesday, April 25th, 2007
Space Girl and Bird is spray-painted on steel.
 
A painting by cult “guerrilla artist” Banksy has sold for £240,000 at auction - a new record for the artist.
Space Girl and Bird, which is painted on steel, was commissioned by Blur for their Think Tank album cover. Earlier, a US bidder snapped up a self-portrait showing Banksy with an ape’s face for £198,000 - five times its estimated value. Another two pieces fetched £75,000 and £32,000. A Bonham’s spokeswoman said bidding was “quite intense”. Banksy, from Bristol, made his name with stencilled graffiti and subversive stunts in public spaces but fiercely guards his true identity. The previous record for one of his works was £102,000 paid for a picture of pensioners bowling with bombs in February. A Bonham’s spokeswoman said the artist generated a lot of interest on both the phones and in the sale room. Charles Dupplin, an art expert from insurance company Hiscox, said buyers were “fascinated” by the artist. “Today’s auction demonstrates just how much art by Banksy has skyrocketed in value. Clearly he is an artist in huge demand. “To have the previous record set by the artist broken twice in quick succession reveals how much fascination there is in Banksy by collectors.” The value of contemporary art had increased by more than 11% in the last year, he added.
 
source : BBC NEWS http://blogs.mindbodynsoul.com http://www.mindbodynsoul.com   Tags:
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Richard Branson

Tuesday, April 24th, 2007
Business opportunities are like buses and ther is always another coming . Richard Branson Chairman Virgin Atlantic http://currentnewsaffairs.com Tags:and ther is always another coming .

Former Russian leader Boris Yeltsin dies

Monday, April 23rd, 2007
MOSCOW - Former President Boris Yeltsin, who hastened the collapse of the Soviet Union by scrambling atop a tank to rally opposition against a hard-line coup and later pushed Russia to embrace democracy and a market economy, died Monday at age 76. Kremlin spokesman Alexander Smirnov confirmed Yeltsin’s death, and Russian news agencies cited Sergei Mironov, head of the presidential administration’s medical center, as saying the former president died Monday of heart failure at the Central Clinical Hospital.
The first freely elected leader of Russia, Yeltsin was initially admired abroad for his defiance of the monolithic Communist system. But many Russians will remember him mostly for presiding over the steep decline of their nation. Mikhail Gorbachev, the last Soviet president, summed up the complexity of Yeltsin’s legacy in a condolence statement minutes after the death was announced. He referred to Yeltsin as one “on whose shoulders are both great deeds for the country and serious errors,” according to the news agency Interfax. Defense Secretary Robert Gates called Yeltsin “an important figure in Russian history.” “No Americans, at least, will forget seeing him standing on the tank outside the White House (the Russian parliament building) resisting the coup attempt,” Gates said while on a visit to Moscow. Yeltsin was a contradictory figure, rocketing to popularity in the Communist era on pledges to fight corruption — but proving unable, or unwilling, to prevent the looting of state industry as it moved into private hands during his nine years in power. Yeltsin steadfastly defended freedom of the press, but was a master at manipulating the media. His hand-picked successor,        Vladimir Putin, has proven far more popular even as he has tightened Kremlin control over both Russia’s industry and its press. Yeltsin amassed as much power as possible in his office — then gave it all up in a dramatic New Year’s address at the end of 1999. His greatest moments came in bursts. After Communist hard-liners tried to overthrow Gorbachev and roll back democratic reforms in August 1991, Yeltsin stood atop a tank to rally resistance to the coup. He spearheaded the peaceful end of the Soviet state on Dec. 25 of that year. Ill with heart problems, and facing possible defeat by a Communist challenger in his 1996 re-election bid, he marshaled his energy and sprinted through the final weeks of the campaign. The challenge transformed the shaky convalescent into the spry, dancing candidate. But Yeltsin was an inconsistent reformer who never took much interest in the mundane tasks of day-to-day government and nearly always blamed Russia’s myriad problems on subordinates. Yeltsin damaged his democratic credentials by using force to solve political disputes, though he claimed his actions were necessary to keep the country together. He sent tanks and troops in October 1993 to flush armed, hard-line supporters out of a hostile Russian parliament after they had sparked violence in the streets of Moscow. And in December 1994, Yeltsin launched a war against separatists in the southern republic of        Chechnya. Tens of thousands of people were killed in the Chechnya conflict, and a defeated and humiliated Russian army withdrew at the end of 1996. The war solved nothing — and Russian troops resumed fighting in the breakaway region in fall 1999. In the final years of his leadership, Yeltsin was dogged by health problems and often seemed out of touch. He retreated regularly to his country residence outside Moscow and stayed away from the Kremlin for days, even weeks at a time. As the country lurched from crisis to crisis, its leader appeared increasingly absent. Yet Yeltsin had made a stunning debut as Russian president. He introduced many basics of democracy, guaranteeing the rights to free speech, private property and multiparty elections, and opening the borders to trade and travel. Though full of bluster, he revealed more of his personal life and private doubts than any previous Russian leader had. “The debilitating bouts of depression, the grave second thoughts, the insomnia and headaches in the middle of the night, the tears and despair … the hurt from people close to me who did not support me at the last minute, who didn’t hold up, who deceived me — I have had to bear all of this,” he wrote in his 1994 memoir, “The Struggle for Russia.” Yeltsin pushed through free-market reforms, creating a private sector and allowing foreign investment. In foreign policy, he assured independence for Russia’s Soviet-era satellites, oversaw troop and arms reductions, and developed warm relations with Western leaders. That was the democratic Yeltsin, who in August 1991 rallied tens of thousands of Russians to face down a hard-line Soviet coup attempt. Throughout his nearly decade-long leadership, he remained Russia’s strongest bulwark against Communism. But there was another Yeltsin. He was hesitant to act against crime and corruption — beginning in his own administration — while they sapped public faith and stunted democracy. His government’s wrenching economic reforms impoverished millions of Russians — poor people whose wages and pensions Yeltsin’s government often went months without paying. In the course of the Yeltsin era, per capita income fell about 75 percent, and the nation’s population fell by more than 2 million, due largely to the steep decline in public health. Yeltsin was a master of Kremlin intrigues, and preferred the chess game of politics to the detail work of solving economic and social problems. He played top advisers off against each other, and never let any of them accumulate much power, lest they challenge him. He fired the entire government four times in 1998 and 1999. The economy sank into a deep recession in summer 1998, but Yeltsin rarely commented on the troubles and never offered a plan to combat them. He was quick to act if anyone threatened his hold on power, standing fast even when his traditional allies called on him to step down. He easily faced down an impeachment attempt by the Communist-dominated lower chamber of parliament in May 1999. In foreign affairs, he struggled to preserve a role for his former superpower. He called for a “multipolar world” as a way to counterbalance what Russia perceived as excessive U.S. global clout, and in spring 1999 he sent Russian troops rushing to        Kosovo — ahead of        NATO peacekeepers — to underline that Moscow would not be elbowed out of European affairs. He wrangled with the West in disputes over NATO expansion and Russia’s relatively warm relations with        Iran and        Iraq. But as Russia’s political and economic might withered, Yeltsin had little to offer other nations. Boris Nikolayevich Yeltsin was born Feb. 1, 1931, into a peasant family in the Ural Mountains’ Sverdlovsk region. As a mischievous child, he lost his thumb and index finger while playing with a stolen grenade. When he was 3, his father was imprisoned in dictator Josef Stalin’s purges. His alleged crime was owning property before the 1917 Bolshevik Revolution. Yeltsin was, by his own account, a garrulous, scrappy boy who loved pranks and was quick to fight. And from the start, he bucked authority. He was expelled from elementary school for criticizing a teacher at a school assembly. Early in his career as a construction engineer, he was given written reprimands 17 times in one year — “a new record,” he would later recall proudly. And his long career as a Communist Party official was rife with battles with higher party officials. He was educated as an engineer and married a fellow student, Naina Girina. They had two daughters. At age 30, Yeltsin joined the Communist Party after a brief career in construction in Sverdlovsk city, now Yekaterinburg. He became a full-time party official in construction in 1969, and seven years later was named the region’s party boss. In 1985, Gorbachev, intent on his own reforms, brought Yeltsin to Moscow, where he shook up the city’s party hierarchy. The strapping, silver-haired Yeltsin cut a popular figure in the capital, making a point of riding city buses instead of a limousine, standing in long lines in grocery stores and loudly demanding why managers were stashing away food for favored customers instead of selling it to ordinary consumers. A bitter rivalry soon grew between him and the more cautious Gorbachev. When Yeltsin criticized Gorbachev at a party meeting in November 1987, accusing him of a sluggish approach to reform, Gorbachev fired him. In the old days, that would have ended Yeltsin’s career. But he stormed back to power in 1989, winning a Soviet parliament seat in the first real election in 70 years. The following year, Yeltsin dramatically quit the Communist Party, walking out of its final convention. His popularity grew. Yeltsin was a natural with crowds, shaking hands and bantering in a booming voice. For many Russians, he had the unpolished charm of a “muzhik” — a tough peasant with common sense and a fondness for vodka. Even then, Yeltsin’s career was punctuated by bouts of bizarre behavior that the public chalked up to alcohol. Red-faced pranks, missed appointments, inarticulate and contradictory public statements continued into his presidency, blamed by aides on jet lag, medication or illness. Yeltsin won Russia’s first popular presidential election in a landslide in June 1991. Russia still was part of the Soviet Union, but the central government had started ceding power to the 15 republics. Kremlin hard-liners trying to stop that process launched the failed coup in August, putting Gorbachev under house arrest. But Yeltsin took control of mass protests in Moscow, leading the democratic opposition to victory. Yeltsin banned the Communist Party and confiscated its vast property. The ban was lifted in court about a year later, but by then Yeltsin had dealt the death blow to the tottering Soviet state. He and the leaders of Ukraine and Belarus formed the Commonwealth of Independent States in December 1991, declaring the Soviet Union extinct. Gorbachev resigned within the month. Impatient to lead Russia into a new, prosperous era, Yeltsin quickly launched an economic-reform program that freed prices but sent them soaring, wiping out many people’s savings. Inflation skyrocketed and production plummeted. Years later, he expressed regret over the rush, and said he’d been “naive.” “I ask forgiveness for not justifying some hopes of those people who believed that at one stroke, in one spurt, we could leap from the gray, stagnant, totalitarian past into the light, rich civilized future,” he told the nation in a televised speech to announce his resignation on Dec. 31, 1999. “I myself believed in this, that we could overcome everything in one spurt.” Tension grew between him and the Soviet-era parliament, climaxing in fall 1993 when Yeltsin disbanded the legislature. An armed standoff and street riots followed, and Yeltsin finally turned tanks against the parliament building. Scores of people were killed in the fighting. Afterward, Yeltsin pushed through a constitution that guaranteed a strong presidency and allowed him to brush off any serious parliamentary challenges. But growing hard-line influence led him to dump key reformers from his Cabinet, which alienated democratic forces. Their disillusionment grew after the start of the first Chechnya war and more hard-line gains in parliamentary elections in December 1995. By early 1996, Yeltsin was deeply unpopular and presidential elections loomed in June. But true to form, Yeltsin rallied when things looked bleakest, manipulating the media, enlisting the aid of the so-called oligarchs who had enriched themselves on the spoils of the Soviet economy in a grueling campaign. The campaign trips to Russian regions and exertion took a heavy physical toll, and by election day Yeltsin could not even make it to his scheduled polling station. Doctors later said he had suffered another mild heart attack during the campaign. He underwent quintuple heart bypass surgery in November 1996, but continued to suffer from a series of other ailments. He also had long-running back trouble, and seemed increasingly shaky, both physically and mentally. Russians questioned who was running the country — the doddering Yeltsin, or the aides and tycoons whom critics accused of exercising undue influence over Kremlin policy. Yeltsin’s increasing frailty seemed to reflect the declining fortunes of the country he led. During public appearances, he would often stumble, and his speeches were punctuated by long, inexplicable pauses — even when he had the text in front of him. Russians expected another halting speech on New Year’s Eve 1999, but he stunned the nation and the world with his resignation — having given no hint that he would ever give in to calls that he step down before his second term was up in spring 2000. He named his last prime minister, former KGB agent Putin, acting president — giving him a huge incumbent’s advantage over any would-be challengers. “Russia must enter the new millennium with new politicians, with new faces, with new, smart, strong, energetic people,” Yeltsin said. “And we who have been in power for many years already, we must go.” After his dramatic exit, Yeltsin appeared rarely in public — popping up now and again at an official ceremony, holiday reception or tennis tournament. He traveled several times to China for what were described as health-boosting trips, and he looked fitter in retirement than he had in years. Yeltsin met about once a month with Putin, usually at his dacha in Barvikha outside Moscow, he told an interviewer with Russian state television on the second anniversary of his resignation. He said he felt stronger than during the presidency, less weighed down by stress, and never regretted his abrupt departure. He felt certain that the reforms he championed would continue under Putin, he said. “If I had doubts that the reforms might be reversed, I would not have resigned,” Yeltsin said. Yeltsin is survived by his wife, two daughters and several grandchildren. Funeral plans were not announced. source : Associated Press http://blogs.mindbodynsoul.com http://www.mindbodynsoul.com http://www.currentnewsaffairs.com Tags:
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Male Child Birth Rate Falling In US and Japan

Monday, April 23rd, 2007
Male Child Birth Rate Falling In US and Japan
 
The number of male babies born in the U.S. is dropping.
And environmental factors may have a role to play in the changing
demographic pattern, says a new study. Researchers have found that the male birth is on a steady decline for
the last three decades. The decline is equivalent to 135,000 fewer
white males in the last 30 years in the U.S. Interestingly the decline
is confined to whites only. In Japan too a similar decline has been reported. They say the reason for the decrease is unclear, but environmental factors
coupled with the rising age of parents giving birth may be playing a role. “We know that men who work with some solvents, metals, and pesticides father
 fewer baby boys. We also know that nutritional factors, physical health, and
chemical exposures of pregnant women affect their ability to have children and
the health of their offspring,” says Devra Lee Davis, director of the University
of Pittsburgh Cancer Institute’s Center for Environmental Oncology, in a news
release. “We suspect that some combination of these factors, along with older age of parents,
may account for decreasing male births,” the news release states. Environmental factors, such as prenatal exposure to endocrine- disrupting
environmental pollutants may impact the SRY gene – a gene on the Y chromosome that
determines the sex of a fertilized egg. Other environmental factors that also may affect the viability of a male fetus include
the parents’ weight, nutrition and the use of alcohol and drugs. In the study, researchers analyzed birth statistics in the U.S. from 1970 to 2002 and
in Japan from 1970 to 1999. The results appear in the online edition of Environmental
Health Perspectives. The results showed an overall decline of 17 males per 10,000 births in the U.S.
and 37 males per 10,000 births in Japan during the study period. On the other hand the number of black male births has increased slowly over the last
three decades, though the ratio of male-to-female births among blacks remains lower
than that of whites. In addition, blacks have a higher fetal mortality rate, and male black babies
are more likely to die than females. “Given the higher mortality rates for African-American males in the United States,
these results re-emphasize the need to determine all factors, including environmental
contaminants, which are responsible for this continuing health disparity,” notes
researcher
Lovell A. Jones, director of the Center for Research on Minority Health at the
University of Texas M.D. Anderson Cancer Center. “Given the importance of reproduction for the health of any species, the trends we
observed in the U.S. and Japan merit concern,” added Dr. Davis. “In light of our
findings,
more detailed studies should be carried out that examine sex ratio in smaller
groups with defined exposures as a potential indicator of environmental contamination.” Source-Medindia
SRM/B Nature is however maintaing the balance as there is a falling rate
of female births in India . May be GOD the UNIVESRE IS DESIGNING to
make the global HUMAN village a multireligious society leading to the
one and the GOD the Universal Soul . Prince Mohan http://currentnewsaffairs.com       Tags:
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Brand Values

Sunday, April 22nd, 2007
By Jane Yates of Interbrand Newell & Sorrell “If this business were split up, I would give you the land and bricks and mortar, and I would take the brands and trademarks, and I would fare better than you” John Stewart (Former CEO of Quake } http://currentnewsaffair.com

 

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FORBES VALUE YANKEES AT US$1.2 BILLION

Saturday, April 21st, 2007
FORBES VALUE YANKEES AT US$1.2 BILLION April 21 , 2007 There’s money in those pinstripes.
 
The value increased by 17 percent for New York Yankees in the past year to $1.2 billion,
Forbes magazine said Thursday in its annual estimates of Franchise worth.
 
The Florida Marlins given the lowest value at $244 million, had the highest operating
income at $43.3 million, according to the magazine.
 
“As usual, the Franchise Valuations and operating income numbers are pure Fantasy and
based on no correct information,” Marlins president David Samson said. “To comment on
such irresponsible journalism would only give it more credit than it deserves.” The magazine defended its article. “Forbes compiles its annual valuations of Major League Baseball franchises based on
information obtained from team executives, sports bankers, public documents, and other
sources believed to be reliable,” spokeswoman Elizabeth Wasden said. “We stand by our
figures, and the content published.” Despite the record evaluation for the Yankees, Forbes said they were the only ones to
post an operating loss after revenue sharing last year. The magazine estimated the
Yankees were $25.2 million in the red on operating revenue of $302 million, after
revenue-sharing payments to the commissioner’s office. The Yankees estimate their
revenue-sharing bill for 2006 will be about $70 million. “I am gratified at the Forbes valuation of the Yankees,” New York owner George
Steinbrenner said in a statement. “We are continuing to build a worldwide brand for the
people of New York and Yankee fans everywhere.”
 
The New York Mets were given the second-highest value ($736 million), followed by
the Boston Red Sox  ($724 million), the Los Angeles Dodgers ($632 million),
the Chicago Cubs ($592 million), World Series champion St. Louis ($460 million),
San Francisco ($459 million), Atlanta ($458 million) and Philadelphia ($457 million).
At the other end were Florida ($244 million), Tampa Bay ($267 million),
Pittsburgh ($274 million), Kansas City ($282 million), Milwaukee ($287 million),
Minnesota ($288 million) and Oakland ($292 million). Franchise values did not include provisions for television networks owned in whole
or part by teams, such as the YES Network (Yankees), NESN (Red Sox) and Comcast
SportsNetChicago (Cubs), Forbes associate editor Kurt Badenhausen said. The Dodgers had the second-highest operating income at $27.5 million, followed by
Pittsburgh ($25.3 million), Cleveland ($24.9 million), the Mets ($24.4 million),
Colorado ($23.9 million), Cincinnati ($22.4 million), the Cubs ($22.2 million),
Seattle ($21.5 million), Milwaukee ($20.8 million) and Tampa ($20.2 million). Rob Manfred, baseball’s executive vice president of labor relations, criticized Forbes’
figures last year but declined comment Thursday. Source New York AP
http://wwwUniversalNews.blogspot.com
http://currentnewsaffairs.com
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Boots bidding war hots up

Saturday, April 21st, 2007
A multibillion-pound battle for control of Alliance Boots broke out today as the health and beauty group’s directors accepted a £10.6bn bid - only to see it trumped by a rival consortium offering shareholders an extra £200m.
The Alliance Boots board voted to recommend a formal £10.90-a-share bid from the private equity group Kohlberg Kravis Roberts and Boots’s deputy chairman Stefano Pessina at a board meeting late on Thursday night. The bidders had proposed to pay £10.60 but were forced higher when the Alliance Boots board told them that Terra Firma was planning a £10.85 offer. Their new bid is £900m more than KKR first offered six weeks ago - and £3bn more than most City analysts thought the company was worth before either bid emerged.
However, less than four hours after Alliance Boots and KKR announced they had reached a deal, Terra Firma, run by the financier Guy Hands, and his partner, the Wellcome Trust, slapped an even higher proposed bid on the table, of £11.26 a share. That bid is subject to Hands’s team completing due diligence and is not yet a formal offer. Alliance Boots shares closed up 75.5p at £11.25 - suggesting traders believe that KKR will return with a yet higher offer. One analyst, Luca Solca of Bernstein, said a private-equity buyer could afford to pay up to £13, which would value the business at £12.6bn. Terra Firma’s offer of £11.26 will actually be reduced to £11.15 - or £10.8bn - for shareholders. The top slice of the bid would be diverted to pay a record £106m “break fee” that Alliance Boots has agreed to hand over to KKR and Pessina if it eventually backs a different deal. The bid battle almost certainly signals the end for Boots - one of the most trusted high street brands - as a publicly listed company. It will also be the first FTSE-100 company to fall into private hands and the biggest such buyout ever witnessed in Europe, worth some £3bn more than the Apax-led bid for Tele Danmark in 2005. The business, created by the merger of Boots and Alliance Unichem only seven months ago, operates 2,600 UK pharmacies and has a drugs distribution network spanning 14 countries. It has more than 100,000 staff. KKR has yet to reach agreement with the trustees, but the schemes are relatively well funded and KKR said the negotiations were “amicable”. In a note for RBC Capital Markets, the pension consultant John Ralfe - who used to run the Boots scheme - said the trustees were in “a very powerful negotiating position”. He believes they could win a cash injection into the fund of up to £500m. Funding is unlikely to be a problem. Terra Firma has added HBOS to its team as an equity partner. A source close to Mr Hands said banks were queuing up to back their offer: “They are twice oversubscribed on the debt.” HBOS and HSBC are among the banks ready to provide financing. KKR and Mr Pessina have lined up eight banks to back their bid, including Barclays, Citigroup, Royal Bank of Scotland and Merril Lynch - who quit as Alliance Boots house broker to join the deputy chairman’s bid team. Today there were few details forthcoming about how the deal will be structured and how much debt KKR and Mr Pessina plan to pile into the company. However, Mr Pessina would swap three quarters of his 15% Alliance Boots stake for shares in AB Acquisitions - the company they plan to use to acquire the business. In return he will be given joint control of the business. The 65-year-old Italian said he intended to crank up the pace of expansion with an aggressive acquisitions strategy. “Pace and focus is the main reason we are doing this,” he said. He added that he was not a natural public company director: “I am an entrepreneur. I am a completely different kind of animal.” Some analysts have calculated that Mr Pessina could double his £1bn investment in less than five years if the deal is successful, but he insisted he was not doing the deal to boost his own personal fortune: “I am 65. I have all the money I need - more than people think - and I am still working seven days a weeks and 10 or 11 hours a day. I am not doing this for the money.” Terra Firma has requested further financial information and a meeting with Boots management, which is expected to take place next week. The bid comes amid mounting hostility to private-equity buyouts from unions, MPs and some businessmen, who accuse the buyout specialists of asset stripping and unneccessary secrecy. Yesterday Mr Pessina said he intended to run one of the most “transparent” private equity-owned firms and promised to publish a detailed “annual review” of the business. The unions, however, remain concerned. The GMB general secretary, Paul Kenny, has written to the health secretary, Patricia Hewitt, and the trade secretary, Alistair Darling, asking them to call in Mr Pessina to provide reassurance that his plan will not harm local pharmacies or increase the cost of drugs to the NHS. “We won’t close down any stores or any pharmacies,” Mr Pessina said. “If we close one it is just a gift to someone else. It just doesn’t make any sense.” The Transport and General Workers Union said the battle for Boots would inevitably mean “extraction rather than creation of wealth”.The TUC general secretary, Brendan Barber, has written to the bidders asking them to spell out their plans for the business. Sir Nigel Rudd, chairman of Alliance Boots, said the offer from KKR reflected the “hugely valuable business” created by last year’s merger: “I am delighted that the board has been able to achieve such a good price for shareholders.” source : Guardian http://blogs.mindbodynsoul.com http://www.mindbodynsoul.com Tags:
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China Adds Billionaires With I.P.O.

Saturday, April 21st, 2007
The 52-year-old Chinese farmer turned developer is as plain as the company’s English name: Country Garden. But there was nothing ordinary about his company’s debut
Chinese Boom in I.P.O.’s Friday morning, at 9:30 a.m., shares of Country Garden soared 35 percent on the opening day of trading in one of China’s hottest initial public offerings of the year. When trading ended, this little-known real estate company based in southern China was valued at $15 billion, making the family of Yang Guoqiang, a dirt-under-the-fingers property tycoon, perhaps the richest in China. In many ways, Country Garden’s public offering — which raised about $1.6 billion, or as much as Google’s 2004 stock offering raised in the United States — is just the latest symbol of China’s meteoric rise, and this country’s continuing stock market fever. After more than two decades of spectacular economic growth, fueled mostly by building factories that export low-cost goods, China has a rising number of entrepreneurs who are forming private companies, going public and getting extremely rich. “The general economic environment here has unleashed this tremendous entrepreneurial spirit,” said Jing Ulrich, chairwoman of China equities at JPMorgan. “People who in the past saw their ambitions stifled are now seeing them realized. They’re going public.” There are Internet pioneers, like Robin Li of Baidu and Ma Huateng of Tencent; billionaire retailers, like Huang Guangyu of Gome; and real estate barons like Xu Rongmao of Shimao, Zhu Mengyi of Hopson and Country Garden’s Yang Guoqiang, who told journalists a few months ago that for years he planted rice, tended cows and mixed cement before founding Country Garden in 1997. Now, his company is a virtual assembly line of home building for China’s raidly growing middle class. Mr. Yang’s genius is that he has a created a Wal-Mart approach to housing development for the middle class. Mr. Yang could not be reached for comment Friday and rules on public listing prevent company executives from promoting their stocks. The company has the backing of some of Wall Street’s biggest investment bankers, including Morgan Stanley and UBS, and its profits this year are expected to reach $500 million, putting Country Garden’s earnings in league with the world’s biggest corporations. In an odd twist to his rags-to-riches tale, in 2005 Mr. Yang gave all of his shares in Country Garden to his daughter, Yang Huiyan, now 25, who will someday run the company. After Friday’s listing, those shares are worth about $9 billion, which probably makes her China’s wealthiest individual. Zhang Yin, the 50-year-old woman who controls Nine Dragons Paper, a company that recycles American waste paper and sells it to factories here in China, is far behind at about $3 billion. Her company went public early last year. The richest person in China last year, according to Forbes, was Huang Guangyu of the privately controlled Gome, the giant electronics retailer. He was said to be worth $2.3 billion, but was easily eclipsed Friday by the heirs of Country Garden. That makes Ms. Yang, who studied in the United States and owns 60 percent of Country Garden, richer even than George Soros, Steven P. Jobs of Apple and Rupert Murdoch. Her fortune was made possible, of course, by a global investment frenzy for all things Chinese, particularly stocks. Last year, Hong Kong’s stock market raised more money from public offerings than the New York Stock Exchange and the Nasdaq Stock Market combined, thanks to the listing of some of China’s biggest state-owned banks. Hong Kong is getting more help this year from another Chinese lender, Citic Bank, which raised $5.4 billion yesterday in the world’s biggest initial public offering yet in 2007, according to Bloomberg News. Shanghai’s stock market has been even hotter, so hot in fact that the Chinese government is worried that a 200 percent jump in share prices in the last 16 months is beginning to look like a stock market bubble soon to burst. The sense of frenzy can be seen at brokerage houses throughout the country, where mostly elderly people congregate in front of huge red trading scoreboards or cheer their stocks on from the rows of plastic seats that resemble those found in an old bus terminal. With millions of Chinese now racing to invest in stocks at home, everyone wants to be listed and everyone wants to own a public company that has an opening-day pop reminiscent of the dot-com boom in the United States. “This is the kind of thing that gets people excited, that encourages people to become more entrepreneurial in China,” said Chen Zhiwu, a professor of finance at Yale University who in recent months has been visiting Chinese entrepreneurs, including lesser-known ones like Jason Jiang, whose company puts screens with advertisements in elevators. “People like Robin Li of Baidu and Jason Jiang of Focus Media really excite people,” the professor said. “Many people think they, too, can create their own companies. The big state-owned banks can have big I.P.O.’s, but no one cares about their stories. It’s the entrepreneurs who are really changing China.” But investors are hardly ignoring the banks. The Industrial and Commercial Bank of China, which a few years ago was saddled with debt, is now worth about $220 billion, making it the third-most-valuable bank in the world after Citibank and Bank of America. On a smaller scale, Tencent, owned by 35-year-old Ma Huateng — one of China’s biggest Internet companies — is already worth $5.7 billion. And then there are the real estate barons, who have often used their political connections to get access to cheap land, only to see land and housing prices soar as the country’s increasingly wealthy look to purchase their first homes. Now, companies like Hopson, R&F and Agile Property Holdings have in recent years gone public in Hong Kong, and then watched their shares soar 100, 200 and 650 percent since listing. Shimao, a developer of luxury properties based in Shanghai, is valued at more than $7 billion. The story of Country Garden, which is based in Guangdong Province, near Hong Kong, is much simpler. According to analysts and accounts in the Chinese media, Mr. Yang grew up poor in the city of Foshan, worked as a farmer and construction worker and married a bricklayer who was in the same construction crew. In the 1990s, he moved into real estate and acquired distressed property or even wastelands at a time when the future of the Chinese real estate market was still uncertain. When the government began reforming the market and allowing companies to acquire public land and sell plots to home buyers in the late 1990s, the market began to take off. Now, Mr. Yang, who is the company’s chairman, is sitting on huge reserves of land and churning out new, modestly priced homes at breakneck speed, analysts say. “I get the land and sell properties at a reasonable price,” Mr. Yang told investors during the road show before the public offering. “I move a lot of product.” source : new york times http://blogs.mindbodynsoul.com http://www.mindbodynsoul.com Tags:
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ABHISHEK - AISHWARYA GET SET FOR THE BIG DAY

Thursday, April 19th, 2007
The three-day wedding extravaganza of Abhishek Bachchan and Aishwarya Rai, which kicks off tomorrow, is set to be a hectic but fun-filled private affair for the Bachchans and the Rais who will get together at Prateeksha for the celebrations.
The much-hyped and out-of-bounds for the media wedding of Abhishek and Aishwarya, who 13 years after winning the Miss World crown is still referred to as one of the “most beautiful women in the world”, will be solemnised on April 20. The sangeet, sources said, will almost resemble a Bollywood set with mirrors, huge pillars and performances by Abhishek’s best friends, including Sikander Kher and Goldie Behl. Speculation has been rife that Hrithik Roshan too may perform at the ceremony. The couple is said to be preparing to the dance to their hit number “Kajra Re” at the ceremony. The mehndi ceremony the next day is likely to be a sober affair involving only close family and friends. The wedding, the culmination of three days of celebrations, will be held in Amitabh’s bungalow Prateeksha at around 5.30 pm on the auspicious day of ‘Akshaya Tritiya’. Select guests have been invited for the wedding, but some of Amitabh’s closest friends, including Anil and Tina Ambani, politician Amar Singh and Sahara head Subroto Roy, are expected to be permanent fixtures over the three days. From Bollywood, director Karan Johar and his mother Hiroo, director Goldie Behl and his wife Sonali Bendre, Anupam Kher, his wife Kirron and son Sikander are among the invitees. source : PTI. http://blogs.mindbodynsoul.com http://www.mindbodynsoul.com   Tags:
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