LOBBYING

Although American corporations have been under intense financial strain in recent months, there is one category of spending they haven’t cut back on: lobbying and campaign contributions to influence government policy. Even Wall Street interest appealing for government help have spent millions lobbying congress some of them ranking among this year’s biggest campaign donors.

The US Chamber of Cammerce, the strongest voice in Washington for the business community, spent $30 million on lobbying in the third quarter of this year, more than twice as much as it spent for the same purpose in the previous quarter. The spending is part of the most aggressive election-year effort the chamber has ever made.

This month nearly two dozen chamber lobbyists blanketed Capitol Hill, leading a business coalition that pushed for swift passage of a financial rescue measure. Among other things, the chamber opposed any amendments that would make it easier to file lawsuits against banks and other enterprises receiving federal aid
through the rescue package. To maintain its influence after the election, the chamber is concertrating on Senate races.

One of the chamber’s top concerns was that a big Democratic win in November might lead to legislation that makes it easier for unions to organise workers. The chamber’s lobbying and campaign expenditures and from pro-business philanthropies. The chamber gives most of its contributions
to republicans.

Companies are taking in vast amounts of federal money with one hand and then paying money out of lobbyists and political campaigns with the other hand to figth new regulations aimed at averting similar problem. During the 2008 cycle, two banks that have agreed  to accept federal aid, JPMorgan Inc.., were among the top donors to campaigns, each giving nearly $4 million as of mid-October. The top corporate contributor from Wall Street was Goldman Sachs Group, which has many former executives involved in the Treasury Department rescue effort. The American Bankers Association sent 61 percent of its $2.3 million in contributions to Republican.

MY MONEY

Karthic Chidambaram, member, all India Congress of All India Tennis Association, is an advocate of private spending, which he believes will lead to economic growth. His views on money are radical and represent those of the young, emerging leaders today. “If we are tight-fisted during festive and ceremonial occasions, how will the retail market survive/  he asks. “People need to go and spend and live their life well so that the economy rolls.

He believes it is essential to celebrate festivals and ceremonies with the great ardour. “one must respect and be proud of one’s cultural heritage,” he says. “I don’t think we should be an austere nation, simply an austere nation is not necessarily a better nation.” We are a nation of happy people, and we should express our happiness. There is no need to exhibit coyness in celebration.

“suppose, during this festive season, everybody decides not to spend-no new clothes, sweets, jewellery, crackers. Imagine what will happen to Industries that churn out of this products. Calebration of marriages provide employment and business opportunity to many people who live on the fringes of the society. These people do not have the skill sets to take up any other profession, Nor do we have industries that can offer alternative job opportunities and absorb these people. According to karti, hoarding never leads to advancement. Curbing of expenditure will lead to stagnation and unemployment. It is only when we spend that the economy grows. The more you spend, the more the growth. Ofcourse, the spending should be within your means. It makes no sense to borrow and spend.

GOLD, a safe harbour?

With prices of gold expected to shoot up during the Indian marriage season beginning November, portfolio strategists have begun to advise clients to invest in gold. “with stock and real estate markets are not performing well, I am advising my clients to invest in gold as gold prices are set to boost in future,” says investment adviser. “Gold prices will shoot up to around Rs 16,000 per 10 grams in November during the marriage season.”

At present gold prices are hovering around Rs 14,000 per 10 grams. Investors can earn a return of anything between 15 and 30 per cent in just one month, These experts said. However, not everyone is equally optimistic as gold prices have been showing a lot of volatility in recent times. “The price fluctuations are very erratic. Nothing can be predicted in a market situation like this. No laws work in this kind of situation.” The general expectation is the prices will rise as
supply of the yellow metal is drying up. India is the world’s largest market for gold.

Life

A jobless man applied for the position of “office boy” at Microsoft.

The HR manager interviewed him, then watching him cleaning the floor as a test.

“Your are employed,” he said. “Give me your e-mail address and I’ll send you the application to fill in, as well the date when you start.”

The man replied, “But I don’t have a computer, neither an email.”

“I’m sorry”, said the HR manager. “If you don’t have an email, that means you do not exist And whoever doesn’t exist, cannot have the job.”

The man left with no hope at all. He didn’t know what to do, with only $10 in his pocket. He then decided to go to the supermarket and buy a 10kg tomato.

He then sold the tomato in a door to door round. In less than two hours, he succeeded in doubling his capital. He repeated the operation three times, and returned home with $60.

The man realized that he can survive this way, and started to go everyday earlier, and return late. Thus, his money doubled or tripled everyday.

Shortly, he bought a cart, then a truck, and then he had his own fleet of delivery vehicles.

Five years later, the man is one of the biggest food retailers in the US.

He started to plan his family’s future, and decided to have a life insurance. He called an insurance broker, and chose a protection plan. When the conversation concluded
the broker asked him his email.

The man replied, “I don’t have an email”.

The broker answered curiously, “you don’t have an email, and yet have succeeded to build an empire. can you imagine what you could have been if you had an email?!!.” The man thought for an while and replied, “yes, I’d be an office boy at Microsoft!”

TALENTS

The phrase ‘excellent in communication skills’ might no longer add value to your resume in these times of recession.

According to a study conducted in 100 colleges, it was found that students did not meet the ‘employment-ready’ criteria, through 80 percent of the respondents possessed good communication skills.

It certainly symbolises the times we live in, with campus placement volumes coming down and companies looking to reduce the costs of training.

“Just knowing the basic codes and computer languages won’t help these days”. “The student needs to exhibit a corporate mindset and job readiness”.

For students waiting to get into jobs, it’s about that ‘extra factor’ that they can provide to the organisation and that comes from polishing transferable skills.

‘A Bcom student should be made to study job-oriented curriculum, say for instance, marketing of insurance products or mutual funds, which will help him to find a job easily”.