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    Monday, January 28, 2008

    ISB on Top 20

    FT Global MBA Rankings: ISB ranked 20th globally
    http://rankings.ft.com/global-mba-rankings

    OK agreed. This is not an opinion. Nor a commentary. But as an Indian (as much as an ISBian), I'm proud to know that Indian School of Business is ranked 20th in the latest FT Global MBA Rankings much ahead of the greats like Kellogg and UCLA.


    This could probably be the best for new school. Just six years old, started in an emerging economy, it surely is a great achievement.

    Wonder if the IIMs take part in these rankings, a few deserve to be among the Top.

    Vj

    Tuesday, January 8, 2008

    It is about justice, not world domination


    one more on the tour gone sour

    Prem Panicker, January 08, 2008 11:13 IST

    Last Updated: January 08, 2008 11:59 IST

    Here we go again - no sooner does India protest some gross inequity, than some bloke (and in such cases, a couple of English journalists and Robert Craddock from Australia are the usual suspects) will harangue the world about how India should not be allowed to control cricket.

    Apparently what happened in Australia over the course of the Sydney Test and in its immediate aftermath is, in the eyes of some at least, an Indian end run for world domination - and if that doesn't strike you as hilarious even as you read it, your sense of humor needs fine-tuning.

    Here is the crux of Craddock's latest argument in support of his pet theory:

    INDIA must not be allowed to run the game, and the International Cricket Council now faces one of the biggest days in its 98-year existence - when it simply must seize control of the game.

    India's threat to boycott the Australian tour has come down to a battle of who runs cricket: India or the ICC

    ICC chief executive Malcolm Speed should give ground on one key issue and stand as firm as a brick statue on another.

    India want Steve Bucknor sacked from the third Test in Perth, and so he should be. Every grievance India have against him is genuine.

    But India's suspension of the tour while waiting for an appeal on the Harbhajan Singh suspension is a veiled form of blackmail, and it must be treated with the harsh response it deserves.

    If the ICC feels Harbhajan was worth suspending, it must not crumble in the face of pressure from the world's most powerful cricket nation.

    India's cricketing wealth may be 50 times that of any rival, but that does not give that country the right to run the game.

    Righto, Bob. Just as you say.


    First up, we are glad you think Bucknor (of whom, more later) should go. How do you propose to compensate the team for his mistakes, and those of his equally incompetent colleague, though - mistakes that by any yardstick changed the course, and result, of the game?

    You can't, right? The best you can do is condescendingly agree that he Bucknor should go. Thank you.

    That brings up your other argument, and the immediate temptation is to dismiss it by asking, well, why ever not? It is a fact of economic life - the bloke who pays the piper writes the music sheet, and if you don't like it you know what you can do about it.

    It is not that the Indian board is 50 times richer than any rival, you silly little schoolgirl - the crux is that the Indian fans, and Indian corporates, bring in anywhere between 60-70 per cent of global cricket revenues. And without it, you don't have a game to dispute control of. Period.

    That is the sort of contemptuous counter an argument like this deserves - but let's try if a little reason will work instead.

    Firstly, the Indian establishment has repeatedly said that the tour has not been called off; the team is merely in limbo while awaiting the result of its appeal. What's your problem with that, again?

    There is a provision for filing an appeal against a match referee's decision - are you and those who think like you suggesting that by availing of that right, by adhering to that process, India is dictating to the ICC? Or are you saying that by appealing a decision, India is trying to control the game?

    That brings up the issue itself, and the reason for the appeal. In case you didn't get it yet, this is why: Firstly, it is a fact (which, over the past 24 hours, I got confirmed by independent sources) that Harbhajan Singh, during Australia's recent tour of India, called Andrew Symonds a monkey. Whether the word, as used by an Indian, has racist connotations or is merely insulting is a debate we won't go into with you, because you clearly don't understand our culture (and we don't understand your cricketing culture either, unless it is 'win at all costs, cheat if you must, abuse the opposition at every opportunity, then put on a saintly face and pretend to be Mother Teresa's more saintly brother).

    In passing, please be advised that my wife, when particularly exasperated with me, calls me a bloody monkey - po da korangu is what she actually says - and I don't have a problem with that, I don't imagine she is abusing my Dravidian origins; if she were to call me a bastard or otherwise insult my parents, however, that would be a whole other story.

    To put it in a way comprehensible to the meanest intelligence, in our culture, the epithet monkey is one used to mock intemperate schoolkids or even adults who behave like them; 'bastard' however hits home because we revere our parents; doesn't everyone, everywhere?

    The fact then is, Harbhajan did use that epithet, as is being now reported; Symonds did seek him out after the game (Baroda, not Mumbai); the two players had a chat in the corridor separating the team dressing rooms; Symonds explained to Bajji why this word upsets him more than other forms of abuse; Bajji said sorry, and promised not to do it again. Thus much, by way of preamble.

    In Sydney, Symonds accused Bajji of using the same form of insult. Ponting took it to the umpires, who took it to the match referee. So far, we have no problems - and do note that if Bajji did in fact use that epithet, after he had been told by the player about its implications for him, and why it hurts, then Bajji deserves all the punishment prescribed by cricketing law, and none of us here have a problem with that.

    The question is, did he?

    Australia trotted out some witnesses. Symonds himself, but he is the injured party - while he deserves to be listened to, his word alone has no evidentiary value. And if a lot of us feel that Australian players and even its media are not above concocting a story to gain an unfair advantage, well, sorry, but the team and the way it plays its cricket are to blame - when you resort to sharp practice, prepare to have your credibility dented.

    Another witness is Ricky Ponting - who had it from Symonds. Hearsay is not evidence; it is even less so coming from Ponting, who thanks to his own actions finds his credibility in the toilet.

    The third was Adam Gilchrist , who was at the other end of the pitch, and could not have heard something the straight umpire did not. In passing, there is some doubt about Gilchrist's vision and hearing both - created when he vociferously claimed a catch against Dravid when he was perfectly placed to see that the bat was behind the pad, and to hear the sound it made coming off the top of the pad.

    There was only one other person within earshot -- and his name is Sachin Tendulkar

    Significantly, immediately after the hearing, it was Tendulkar who SMS-ed the Indian board, said point blank that Harbhajan was innocent, and demanded that the board back the player - the demand that has since led to the board acting as it did.

    I don't know about you guys out there, but here in India, we don't all of us agree on Tendulkar's continued claim to being the best contemporary batsman; some of us say vociferously that he doesn't weigh in when the chips are down; some of us crib constantly that he does not win games for us; even in Sydney some of us cribbed that he was trying to stay not out and hence exposed the tail to the opposition.

    In other words, we in India are not unanimous about Tendulkar the batsman. But one thing we are unanimous about: we trust him as a human being, as a gentleman-player (another concept we could try, but will surely fail, to explain to you, Bob). We believe, and we will stake our lives on it, that he will not lie about something on the cricket field. We believe, we will swear to on a stack of Bibles topped off by a Gita, that if Bajji had in fact said what he is alleged to have said, Tendulkar would not have sent that SMS to the board.

    So, to boil it down, here is the situation: An allegation has been made. The only available, credible evidence is the word of the man making the allegation on one side, the word of the person against whom the allegation was made on the other, and the word of Tendulkar in the balance.

    In India, such a case would have been dismissed out of hand - on the grounds that there is no evidence to prove the charge. Explain to us, if you will, what the principles of justice are in Australia - do you condemn first, and make up the reasons as you go along (the name of a certain Mohammad Haneef comes to mind, but that would be to hit below the belt)?

    Can you, or anyone at all, explain how a judgment can be made against Harbhajan in this case?

    None of this is to defend a player if he was in fact guilty, mind - the point being made is that neither we nor you know he is. One guy says he is guilty, he says he is not, and a player with international stature, with an unblemished reputation of close to two decades, says he is not guilty.

    So, sorry, we protest; we appeal the verdict; we await the appellate process - and if to your paranoid imagination all of that translates into India bidding for world domination, then so be it.

    In passing, and if this is arrogant then so be it, arrogance is a game two can play at - we don't need to grandstand in order to gain control of the ICC; to buy it lock stock and barrel is, for the BCCI, merely a credit card swipe. Sheesh - don't you get it? India does not need to do battle to dominate the financial side of the cricket world -- it already owns that aspect, by default. So please could you stop dragging irrelevancies into this debate, and further muddying the waters?

    In passing, the ICC's control of the global game is under threat, yes - from its own incompetence, allied to bad governance. I could list an entire site's worth of examples, but here is one with immediate resonance. It proved in the West Indies that it is not competent to host a World Cup without earning universal condemnation - and it did so with no help from India. The lowest point of a World Cup that had more lows than highs came in the farcical finale, when much confusion attended the final overs.

    One of the officials standing in that game , who by his actions reduced the ICC's own showpiece event to a comical horror story, was Steve Bucknor.

    Does it strike you as odd that an official who thus disgraced himself and the global body continues to officiate at the international level - and officiate in such a way as to force even you to suggest he should go?

    Does it strike you as significant that after all this, the best the ICC chairman can come up with is the statement that the umpires had a bad day?

    No shit!

    So if you are intent on the ICC "retaining control" of the global game, if you are so worried about threats to the 98-year-old history of the ICC, you might want to write a few columns about what is wrong with the governance of the game; you might want to make suggestions for its improvement - ranting and raving about India's "money power" will not come close to solving the problem; it merely leads us to suspect that you left a few words out of your column: "India should not be allowed to control the game - that is Australia's prerogative."

    Beijing defends sovereign funds

    Today of course the objective of Beijing to deploy SWF is purely economic - investment in China and acquire strategic resources outside China for the purpose of China. (and at the same time earn better returns on the $1500bn of reserves. But the worry of others (not just west), and a justified concern, is that few years down the line nothing stops Beijing in using these funds for political arm twisting and or even may be destabilising a country's markets. If Beijing wants to earn credibility (which it better do given the size of its reserves), it needs to bring in more transparency, hand over management of small funds to professional fund houses. Beijing and the petro dollar funds need to follow the route of Temasek (which is more professionally managed and transparent).


    By Mure Dickie in Beijing

    Published: January 7 2008 19:41 | Last updated: January 7 2008 19:41

    The developed world should not discriminate against sovereign wealth funds from developing countries or subject them to “financial protectionism”, according to a senior Chinese official.

    Comments by Wei Benhua, deputy head of China’s State Administration of Foreign Exchange, reflect Beijing’s concern about international reaction to China’s attemptsto generate better returns from its bulging foreign exchange reserves.

    Critics have suggested the rise of sovereign wealth funds such as Beijing’s $200bn China Investment Corp (CIC) may give their opaque state masters unprecedented influence over other countries’ commercial assets.

    But writing in China Business News yesterday, Mr Wei characterised such worries as baseless: “The China Investment Corp drew the attention of international society as soon as it was established, with certain countries intentionally disseminating the view of Chinese investment as a threat,” he wrote.

    Sovereign wealth funds would benefit international markets by increasing liquidity and by making global resource allocation more efficient, Mr Wei said.

    “There should be no discrimination in the treatment of sovereign wealth funds; the funds of developing and developed countries should be treated the same way. International society should clearly oppose investment protectionism and financial protectionism in any form.” China should get “actively involved” in discussions about rules, Mr Wei wrote.The International Monetary Fund is to devise a code for sovereign funds. The Organisation for Economic Co-operation and Development is at work on guidelines for investment recipients.

    The comments by a top official at Safe suggest the foreign exchange regulator is determined to play a wider role in China’s push to boost returns from its nearly $1,500bn in forex reserves, despite formation of the independent CIC.

    Mr Wei did not refer to Safe’s own low-profile international equity investment. The FT reported last week a secretive Hong Kong-based subsidiary of the administration had bought stakes in three of Australia’s largest banks.

    Mr Wei wrote sovereign funds should “maintain a high level of information disclosure, and strengthen transparency”, although he added that risk of market instability would limit disclosure by new funds.

    Political worries sank a 2005 bid by CNOOC, China’s third-ranked oil group, for American company Unocal. Recently there was concernat Chinese involvement in a takeover of 3Com, a US telecommunications company, by a consortium led by Bain Capital, the US private equity group.

    Michael Pettis, professor of finance at Peking University’s Guanghua School of Management, said some observers seemed “overly worried” about influence of sovereign funds such as CIC, with its initial capital of $200bn of which only $70bn is for overseas purchases. “They are not really that big,” he said.

    Sunday, January 6, 2008

    I think we’ve had enough

    The same frustrations are running thru my mind....how the hell can the au-sissies call Indian team racist. 'm sure nobody in the team had much idea about the context of racism here as the fight between aborigines and whites are know only in Australia and the rest of the world gives a damn about it. So the entire issue of racist chants against Symonds in India (buh who even bothered to check that there are racist chants!) and the Bajji issue are blown out of proportion. As for the conclusion in this commentary below, by my friend and fellow classmate at ISB - Bhaskar PV (bhaskar_pv@yahoo.com), I think is far fetched.

    ---------------------------------

    I’ve just returned from a frustrating morning of cricket-watching. I am a cricket fan, and I love the game. Believe it or not, I watch test matches, ball-to-ball. I find it more interesting than basketball or soccer because of the profundity of the game – the technicality, the rules, the strategies… everything. I love the current Indian cricket team. I also believe that on the field, Australia is the best team in the world today, as it has been for more than a decade now. So it is with a sad heart that I write this essay.

    I think we’ve had enough. Kumble has a hearing with the match referee today over the controversy surrounding Steve Bucknor’s decisions yesterday and Harbhajan Singh’s verbal fight with Andrew Symonds. I am willing to bet on the outcome. Bhajji will be punished. Symonds will walk away with those monstrous painted lips of his shaped in a grin. No action will be taken on Bucknor. Kumble will be humiliated. I am willing to bet on it. Sad part is, there’s no one who’ll take my bet.

    I think we’ve had enough. We’ve seen the bad side of the Australian team for years now. We know how desperate they can get for a win. We know how much integrity Ponting has on the field. We know that Gilchrist is the only one left in the squad who’ll walk when out. We know they slander and rebuke opponent players. They can’t keep their goddamn traps shut. So why do we play Australia? If they are the best side, one has a right to want to test one’s skills against them, on their fields. I am willing to take humiliation from the Aussie bat and ball, but not from things I cannot control. I am not willing to stand in front of the match referee and listen to gibberish knowing all the while that I am right and will still be punished. I am not willing to let slimy eels like Ponting get away with schoolboy nonsense. Who on earth is he to look at Ganguly and tell him he’s out? Forget Benson’s error for a while. Who is Ponting (of all people) to decide who’s out and who’s not? And even if he was Gandhi for a brief moment, who does he think he is, wagging that annoying finger of his at Ganguly, instead of talking to the umpire?


    I think we’ve had enough. I don’t plan to be a consultant. No, I should rephrase that. I plan not to be a consultant. That said, I will venture here to make a recommendation. I say we announce that we won’t play Australia again, except in world championship ties where opponents are drawn, not selected. Let it not be contingent on what happens in the match referee’s courtroom. Let this be an independent decision. One might be tempted to want to win a match and then make this announcement. I say that is overboard. Make it now. You won’t lose your daily bread if you don’t play Australia. In fact, we don’t depend on them in any manner. There are many other test-playing nations. Play them. Or just stay at home. But there is no need to play Australia. For those of you who believe playing Australia and winning is like making a trip to Mecca, let me tell you that I choose to be an atheist. If politics make it necessary for you to play Australia, announce that your batsmen will bat wrong-handed. Anything. Let them know we don’t need this nonsense.


    Goodbye, Australia. We’ve had enough.