It’s time to bank on BankAm

IIPM PUBLICATION
The Citi never sleeps – that was what the New York-based Citigroup always maintained. But now, what used to be the world’s largest bank by market value has been caught napping. Result? It has given up its numero uno position to Charlotte (North Carolina)-based Bank of America, which on August 8, became the world’s largest bank by market value, dethroning longtime leader Citigroup that takes pride in its huge international reach (it has a presence in more than 100 countries). Bank of America’s – or BankAm’s market capitalization reached $ 239.36 billion, overtaking Citi group’s $ 239.34 billion (among publicly traded American companies, the two banks rank fourth and fifth in market value – behind Exxon Mobil, General Electric and Microsoft). Citigroup, however, remains the biggest American bank by assets which stand at $1.63 trillion compared with Bank of America’s $1.45 trillion. According to reports, Bank of America’s Chief Executive Kenneth Lewis has been focusing on strong growth in the US (it had acquired FleetBoston Financial and credit card issuer MBNA that together cost about $ 82 billion). Meanwhile, Citigroup Chief Executive Charles Prince has been emphasizing on organic growth (particularly in the international market), but has been struggling to keep costs down.

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Source : IIPM Editorial, 2006, Editor – Prof. Arindam Chaudhuri 

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Coke & Pepsi are not the only ones facing allegations of taking the Indian consumer for a ride

IIPM BUSINESS & ECONOMY
Of course, both Pepsi and Coke have already unleashed an expensive damage control campaign with huge advertisements in newspapers that have banner headlines screaming how safe and world class their colas are. In fact, Coke has blithely asked “esteemed customers” to send a mail to an e-mail address so that the company can take them on a tour of how world class Coca Cola’s facilities are. (Hilariously, even technology seems to be conveniently deserting these giants. E-mails sent to the mail id bounce back with a message, “Mail box not available!”) Yet, many activists in India seem outraged that companies like Coke and Pepsi repeatedly get away by behaving in a manner that would not go unpunished in a country like the United States. In the land of capitalism and free markets, corporate entities are imposed huge penalties and fines if they take investors or consumers for a ride (See table). Yet, something like that can be a distant dream in a country like India where even rapists and murderers get off the hook by using ‘connections’. And Narain of CSE clearly hints that the two cola giants used their clout to thwart effective legislation that would “officially” expose their duplicity, hypocrisy and strong arm tactics. In fact, CSE claims that their offices were visited by Intelligence Bureau officials and pressurized by the government to reveal sources of funding, audited account details and employee details for 20 years!

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Source : IIPM Editorial, 2006, Editor – Prof. Arindam Chaudhuri 

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How many more to be raped…

IIPM MANAGEMENT INSTITUTE
Besides this, the bill also aims at amending other areas like allowing use of video recordings as evident. Till now, electronic evidence is not given importance in such cases. Protection of witnesses also gets place, which undoubtedly is a significant step. The bill, though a great beginning, fails to discuss the issue of the gender of other people – record keepers, typists, administrative staff et al – who are present within the courtroom. The bill also fails to address deeper issues – like ensuring that even the physical examination of the raped woman is conducted necessarily by lady doctors. Another most critical area ignored is the delay taken by courts to finally award justice to the victim.Ironically, as per National Crime Records Bureau, only one out of 69 rape cases gets reported. What is more alarming is that both in rural & urban India, the scene remains the same. Why criticize the bill, when perhaps the worst blame lies within the vile minds of the biggest beast of them all… the Indian male!

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Source : IIPM Editorial, 2006, Editor – Prof. Arindam Chaudhuri 

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Wal-Mart cannot rely solely on everyday low price strategies, it has to also adapt to local environments

IIPM PUBLICATION
The Bentonville behemoth is surely blinking now. Just like the South Koreans, the Germans too have proved to be misfits in the wall (read plans) of Wal-Mart. The big daddy of retail announced on July 28 that it was shutting down its 85-Supercenter Chain in Germany and selling them off to arch rival Metro AG at a humongous loss of $1 billion. Wal-Mart’s penchant for ‘everyday low prices’ and ‘one-stopshop’ failed to attract price-focused consumers. The exit has left analysts pondering if the magical run of Wal-Mart is drawing to a close. Wal-Mart stamped its exit as a ‘forward-looking statement’. Michael Duke, Vice-Chairman of Wal-Mart Stores, stated, “We focus our efforts where we can have the greatest impact on our growth and return on investment strategies”. What Wal-Mart, then, needs to remember is that ever since it kicked-off its operations in Germany in 1997, it was unable to catch the pulse of price-sensitive Germans, who prefer driving to multiple stores in the hunt of the cheapest deal, instead of traveling outside urban areas – where the retail giant had plopped its stores. More importantly, Wal-Mart’s ‘Everyday low price’ promise failed terribly because local “hard discounters” like Lidl GmbH & Aldi Einkauf GmbH succeeded in undercutting Wal-Mart heavily on prices.

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Source : IIPM Editorial, 2006, Editor – Prof. Arindam Chaudhuri  

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