The agreement does not seem to be about generating new incomes sources for the railways but privatization of railway’s existing profits and revenue. This is a repeat of the Air India saga in which Praful Patel and government appointees (appointed by Manmohan Singh) mismanaged Air India and Indian Airlines, diluted the brands, diverted profitable routes to private airlines and then burdened it with enormous amount of debt by forcing it buy a huge number of Boeing and Airbus aircraft. Modi government says Air India is unviable and needs to be closed down. If this goes on, the same will happen to Indian Railways. At best, all profits that the railways can earn will go to private parties, and the government and the public will continue to refinance the railway. http://economictimes.indiatimes.com/industry/transportation/railways/suresh-prabhus-model-concession-agreement-aims-to-woo-investors-for-funding-railway-projects/articleshow/46656872.cms
Hawala operators, politicians, and others with ill-gotten wealth should take note.
The road to hell is paved with good intentions.
Not many people know about IndianPetro.com. I used to check that site almost every day in the mid 2000s, which was a time when I invested in Reliance Petroleum, Petronet LNG, Cairn and other companies. I used to wonder how they got all the news and how they financed their operations. The site was sparse. There was no RSS feed. They had a paid mailing list service. Strangely, a few days ago, I remembered the site and checked it. I could not tell if it had changed one bit. It was just the same as it was 10 years ago. Strangely, because, within a few days the site that nobody knows about is in the news, as part of the corporate espionage scandal at the Indian oil ministry. The editor of IndianPetro.com has been arrested and he now claims that there is a Rs. 10,000 crore scam. (Zee News; http://zeenews.india.com/news/india/espionage-case-saikia-claims-scam-of-rs-10000-cr-5-accused-sent-to-police-custody_1550305.html)
Another strange coincidence is the news item a few days back where Anil Ambani was complaining about the 3 C’s that was plaguing Indian Big Business – CBI, CVC, and CAG. He said he would like these C’s take a backseat so that poor folks like him can go ahead with two other Cs – Mr. Courage and Mr. Conviction. (The Hindu; http://www.thehindu.com/business/Industry/remove-hurdles-in-defence-business-anil-ambani/article6909642.ece)
As fate would have it, another C is joined the club – Commisioner of Police, Delhi! Well, Delhi Police is extremely corrupt. They will most likely take a bribes all round the office and bury this case. My guess is that some people will be suicided and then claim there is no case.
In my article, Beware of sheep in Net Neutrality clothing! Your data on Monopoly Cloud is the goal! Pipes are not the target!, I told you that Google is one of the beneficiaries!
These idiots can’t tell an URL from a website but they want hundreds or thousands of crores of rupees to fight “cyber” (cyber-security contracts to shady American/Israeli firms).
The Department of Telecom is so much involved in corruption and incompetence that they couldn’t have come up with any national security threat from these websites. Then who recommended their blocking? Obviously, it was the longtime Pakistani spy who currently acts as the national security advisor to Modi. Or, it is the Intelligence Bureau who briefs the PM daily on imagined threats dreamed up by US/UK embassy officials.
How come analysts from FIIs and their stingers in the media aren’t saying anything about Bharti Airtel buying up loss-making African cell phone business (of the Rothschilds?) at a high premium on the strength of its Indian market capitalization and then selling the same assets to what looks like Rothschild fronts at a loss? Is the famed investment arm of the Singapore Government still on the board? Even the dumbest entrant to the stock market knows about buying low and selling high. Bharti Airtel has an unerring knack for buying high and selling low. They are subsidizing somebody. It is not their money though.
Airtel sells Nigeria cell towers after buying them at a premium.
When Narayanamurthy tried to bring his son to the Infosys management board (which is his right as a promoter-shareholder), there was a lot of negative talk from analysts from FIIs and their shills in newspapers such as Economic Times. The moment they brought “a professional” from outside, everything changed magically. Infosys stock has hit a high on the basis of just positive sentiment from the FII herd.
It looks like the Rothschilds are looking at buying out promoter stake in these Indian outsourcing companies at sometime in future. That is why they get so agitated when the promoters start to dig in for a long haul.
The last one standing will do the consolidation.
So, next time Parliament gets stalled and bills don’t get passed, thank your good luck. We need to slow down the legislative process.
Statistics are like bikinis. US Department of Energy lost money on rest of its portfolio.
Big 4 account firms are pros in hiding losses and projecting false profits. The same thing has happened in this case. As they say, the devil is in the detail. Read the new report from BloomBerg fully:
The Department of Energy has disbursed about half of $32.4 billion allocated to spur innovation, and the expected return will be detailed in a report due to be released as soon as tomorrow, according to an official who helped put together the data.
The potential gains are the first estimate for the loan guarantee program released by the Energy Department. The $5 billion to $6 billion figure was calculated based on the average rates and expected returns of funds dispersed so far, paid back over 20 to 25 years.
The Energy Department didn’t disclose terms for investments in specific companies, and it declined to estimate how much the rest of its portfolio may earn.
“There’s no picking winners and losers — we’re just open for business and people apply,” Davidson said.
The only reason Elon Musk has paid back his loan was because he was able to bring in fresh investors not because his “green venture” was viable and actually turned a profit.
This logic should be used against Microsoft to teach everyone a lesson in common sense.
The law it seems was created to enable the seizure of the actual contraband, not everything within a mile of it.
The judge had not applied his mind ir didn’t realize the scope of his order or is in cahoots with some interested parties – interested in this sly privatization of law enforcement.
Whatever the case, Microsoft’s legal team has clearly mislead the court. The judge should appropriately punish Microsoft’s legal team for bamboozling him.
Using this logic, nothing stops anyone from obtain a secret order to seize an airport under the logic that contraband was being trafficked there. It will be a good day when someone seizes Microsoft.com.