Mr. Goenka, May I suggest Animal Spirits?

George A. Akerlof and Robert J. Shiller:

"TO UNDERSTAND HOW economies work and how we can manage them and prosper, we must pay attention to the thought patterns that animate people’s ideas and feelings, their animal spirits. We will never really understand important economic events unless we confront the fact that their causes are largely mental in nature. \

It is unfortunate that most economists and business writers apparently do not seem to appreciate this and thus often fall back on the most tortured and artificial interpretations of economic events. They assume that variations in individual feelings, impressions, and passions do not matter in the aggregate and that economic events are driven by inscrutable technical factors or erratic government action. In fact, as we shall discover in this book, the origins of these events are quite familiar and are found in our own everyday thinking..." ('Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism')

Harsh Goenka, the chairman, RPG Group, writes in The Times of India April 29 2010:

"IPL Franchise: High on hype, low on returns...As the dotcom bust has shown us in the past, a manic obsession with valuation is dangerous. IPL is an innovation that deserves every bit of the applause it’s getting from the people of India. It is indeed a product of New India. But greed, and short-term profit motives are hazardous in any business. And cricket is no exception."

"...When the likes of Mukesh Ambani and Vijay Mallya forked out in excess of $111 million (Rs 500 crore) for the Mumbai and Bangalore teams, respectively, what were they getting in return? At the time, IPL was an untested model. Franchisees were essentially buying the branding and participation licences for teams based in their city, with a promise of profitability sometime in the future...But whichever way you look at it, apart from UB group no other corporate owner is extracting significant branding. Reliance is not the face of Mumbai Indians..."

Like a business school case study, Mr. Goenka gives us tables and worksheets to work with. Even a dreaded DCF makes an appearance.

I wonder if TOI's website carries Mr. Goenka's worksheet for us to download!

But has Mr. Goenka slotted in his worksheet the joy of Ms.Ambani captured in the picture below?



Nita Ambani celebrates as she is lifted by Harbhajan Singh of the Mumbai Indians after defeating the Challengers during the 2010 DLF Indian Premier League T20 semi final match between Mumbai Indians and Royal Challengers Bangalore played at DY Patil Stadium on April 21, 2010 in Navi Mumbai, India.

courtesy: Getty Images

Kumar Ketkar has seen the Future and there is no LokSatta in it!

Joker: I¡­ I've seen the future and it will be
I've seen the future and it works
And if there's life after, we will see
So U can't go like a jerk - no, no (by Prince, Batman)

Business Standard: "Indian language print is the new growth story in the $17-billion Indian media and entertainment industry." (May 11 2010)

From his interview done by Frontline May 21 2010 here, I agree with Kumar Ketkar (कुमार केतकर) on more issues than I disagree with.

But as his wont, he occasionally becomes sloppy and verbose.

Ketkar claims: "...The de-communitisation of Marathi-speaking population gives them a complete feeling of disconnect..."

This may be true of people like him and me but not necessarily of many thousands of others.

He continues: "...So what remains as their identity? ‘I speak Marathi. I’m proud of being a Marathi [-speaking person]. What is my connectivity with Mumbai or Maharashtra? It’s my language. I may be disconnected socially but I’m connected by language.’..."

Now this is not true of people like me, including even those living in Mumbai, because a large part of our identity is not based on our native tongue.

Ketkar says: "...I remember when I used to go to college in the local trains, they were crowded but there was some kind of bonding between the people inside the compartment and outside, on the platforms. Now there is no bonding, everybody is there by himself...What I am saying is that Marathi community life has been disrupted. Mumbai began to be populated by new groups of people… people who are yet to form communities… people who are still individuals..."

What has this to do with Mumbai or Maharashtra or Marathi community alone? Isn't this universal?


Reviewing David Kynaston's four-volume City of London, John Lanchester says:

"...…The modern City is a less interesting place, from the human point of view: in the fourth volume of Kyanston's work, the systems are more important than the people. "The modern City is in many ways a cruel, heartless place," Kynaston observes, "and its occupants work such cripplingly long hours that inevitably they lack much of the roundedness of earlier generations." It's a sad observation, but it feels true, and in a sense adds even more importance to Kynaston's work of telling the stories of these buried lives. "This continuing history of the City is, among other things, a memorial to all those who spent too much of their lives sitting at desks, trading on market floors, keeping the wheels of finance and commerce turning. Who are we to disparage their illusions of gold?"..."

Or as Jeremy Paxman says:

"If someone asked you to identify the great human characteristic of our age, what would you say? Gender equality? Wealth? Social mobility? Sexual freedom? It seems to me the answer could just as easily be solitariness. This, surely, is one of the oddities of the present: at a time when there have never been more of us crowded onto a small island, it has never been easier to be isolated." (The Observer, Sunday 9 May 2010)

Ketkar speculates: "...Twenty years from now there will be no Lok Satta – it will not be economically viable. In fact there will be no Marathi paper. There may be pamphlets or something. People will speak Marathi but the newspaper will not be viable..."

This is absolute nonsense.

I don't like almost all of Marathi newspapers but- for good or for bad- many of them will be around in year 2030. What they will publish is a matter of conjecture.

My guess: Pictures of half-naked women, coverage of IPL (or whatever it's called then) and Sachin Tendulkar, Belgaum, scaremongering on account of flu's/plagues/Islamic terrorism/ Monsoon failure, travelogues of visits to sons and daughters based in USA, promotion of favourite politicos/builders/businessmen/Gurus/castes etc will still remain strong contenders.

When Frontline observed: "You sound very pessimistic", Ketkar replied: "I am not pessimistic. I am realistic. And realism is bad."

Now Ketkar's views are clearly pessimistic, especially as they are expressed when Maharashtra completes 50 years as a state.

Sample a few more of them:

"Girgaon has been uprooted.",

"What Maharashtra has done in the past 50 years is total ruin of Mumbai.",

"The virtue, dynamism and vibrancy of life have declined every day. And in my lifetime it will not improve.",

"Poor? There’s no governance.",

"You cannot. There is no chance of resolution. Because the entire Marathi middle class, which is the leader of the culture… not the poor people unfortunately, has given up the language."

"For the last 35 years we have been asking whether the city is dying, but Mumbai is dead. Mumbai doesn’t exist. No body accepts this."

Therefore, I wonder why he goes on defensive with his final answer.

Some Triphala Churna or Pancharishta for Elvis Presley Please

I am eternally grateful to Mr. Presley because he inspired one of the greatest entertainers of India: Shammi Kapoor (शम्मी कपूर).

Therefore, I felt sad reading in The Asian Age May 8 2010: "Chronic constipation killed Elvis."

What a waste?

Being a beneficiary of Triphala Churna, and in recent years, of Pancharishta, I would say the remedy was simple and effective.

How My Son and I Predicted Greek Crisis!

In 2009, my son and I were watching Travel and Living channel.

It was a Samantha Brown hosted program where she had taken us to a Greek coastal town.

It all looked great until she mentioned hotel tariffs in Euros €.

It was an ugly figure when converted into INR.

My son and I immediately looked at each other and started laughing. The reason being who would go to that 'stupid' place when one could go to Goa or any number of Indian beaches, in winter, for fraction of that cost.

The joke sadly has turned out to be on Greece.

When Greek beaches become affordable to touring Indians, I will conclude that they are out of the financial mess.

p.s. On May 7 1945, exactly 65 years ago, Germany signed the first instrument of surrender in WWII.

Today it is back at the helm of Europe. The whole of Europe, indeed the world, is looking towards it to rescue Greece.

History is cyclical!

Did I Ask for My Soul Back?

Phil Hogan: Everything about modern life conditions you for a life of unhappiness, broken dreams and thwarted ambition.

I celebrated 10th anniversary of my leaving a big MNC on April 30 2010.

In last ten years- although occasionally I did miss companionship of a few ex-colleagues- I have seldom regretted my decision.

I just had to move on.

When I left, I collected PF, superannuation, gratuity etc.

But did I collect probably the most important thing?


The New Yorker, April 2010

Damn Hampi, You are in Karnataka!

A.G. NOORANI:"...Television has simply run amok. It is unaccountable because there is no audit of the media in the media itself..."

Last few days Marathi TV channels were busy bashing Karnataka over Belgaum. It's their way of celebrating 50th anniversary of birth of modern state of Maharashtra.

Today May 4th is 674th anniversary of the foundation of Vijayanagara, one of the greatest empires of India and the world.

One of the most memorable days of my life is the one I spent at Hampi-Vijayanagara in December 1992.

It seems I never left the place.

When I saw the picture of elephant stables, included below, from Frontline April 9 2010 essay 'History in stone', I once again, just like the day when I was there, was transported 500 years back.

I thought the visit was like reading Percy Bysshe Shelley's 'Ozymandias' where one

"...meets some fragments huge, and stops to guess
What powerful but unrecorded race
Once dwelt in that annihilated place." (Fortunately for us not exactly 'unrecorded race'.)

Year 2010 is 500th anniversary year of the coronation of Krishnadevaraya, one of the greatest rulers India produced.

I don't claim that I read a lot of Marathi publications or follow Marathi news television. But I dare say that this great event is barely being celebrated in Maharashtra.

It was not always like this.

Year 1936 was celebrated in Maharashtra as 600th anniversary year of foundation of Vijayanagara empire.


T S Shejwalkar (त्र्यं शं शेजवलकर) wrote two memorable essays on the occasion: 'Debt of Vijayanagara' (विजयनगरचे ऋण) and 'Impact of Viajayanagara Empire on the empire of Marathas' (विजयनगर साम्राज्याचे मराठेशाहीवरील परिणाम).

Shejwalkar wrote:

"...The idea of Maharashtra state came to Shivaji under the shadow of Vijayanagara empire; it was developed further while he conquered parts of that erstwhile empire; it germinated because of its support; prospered; survived many crises, kept going and in the end when that support vanished, it fell apart."

("महाराष्ट्र-राज्याची कल्पना विजयनगरच्या छायेंत शिवाजीच्या मनांत स्फुरली; त्याचं राज्याचा मुलूख जिंकतां जिंकतां वृद्धिंगत पावली; त्याच राज्याच्या आश्रयामुळे मराठेशाही रूजली, वाढली, गंडांतरांतून टिकली, चालू राहिली आणि अखेरीस तो आश्रय सुटला तेंव्हा कोसळून कोलमडून पडली")

Are we ungrateful bastards?


If you pay attention, you will hear elephants trumpet

In the Battle of Romance, Marathi Lost it to Hindi

Suhas Palshikar: "...MNS or no MNS, preferential treatment to locals is always an easy and attractive policy proposal. What is wrong with it? It is wrong simply because it creates an untenable category of “local”. In administrative parlance it becomes “domicile” – meaning resident for 15 years. This strategy practically abandons diversity. Apart from raising issues of definition of the local, such a policy encourages inbreeding and denies its beneficiaries he advantage of greater exposure and competition. It produces ghettoisation at schools, colleges and at workplaces – resulting in non-diverse social universes –hostels, localities and cities...." (Economic & Political Weekly, Feb 13, 2010)

Does this ghettoisation also affect the culture? I argue it does.

"The Music Instinct: How Music Works and Why We Can't Do without it" by Philip Ball has been reviewed by a number of publications in recent days.

Guy Dammann says: "...We do not love music because it exercises our brains or makes us more attractive to members of the opposite sex, but because we have lived with it since we came into being: it is entwined in our common and individual consciousness to the extent that, simply put, we would not be ourselves without it. In contemplating the mysteries of music we are also thereby contemplating the mystery of ourselves..." (The Observer, 21 February 2010)

A majority of good music for most Marathi speakers has been Hindi film music. Hindi may or may not be India's 'national language' but for me it surely is a language of soulful music. In happiness and in sadness.

I have rarely NOT cried at the end of watching 'Na To Karvan Ki Talaash Hai'- a great paean of love- from 'Barsaat Ki Raat'(1960).

In one of his numerous letters, G A Kulkarni (जी. ए. कुलकर्णी) dismisses lyricist Shailendra in comparison with G D Madgulkar (ग. दि. माडगूळकर).

G A got this horribly wrong. Madgulkar was a very good lyricist. But Shailendra, if any, was slightly better.

(GA was wrong on many other counts such as Marathi poet-saints, Mahatma Gandhi, popular Hindi cinema...

He keeps mentioning Ingrid Bergman...Who doesn't like Ms. Bergman? But how did he miss my goddesses with forever looks: Nutan, Madhubala, Geeta Bali? Were they any less?)

N S Phadke (ना सी फडके) rued in his essay "Poverty of Romance in New-Theatre" (नवनाट्यांतलं शृंगाराच दारिद्र्य) ['laharee', (लहरी) 1966] how Marathi theatre did not come out with a single new great romantic play since 1920.

I don't recall a single great romantic movie in Marathi.

Let us face it: In the battle of romance, since 1950's, Marathi theatre and cinema lost it to Hindi cinema.

[Marathi poetry has fared much better. Although, it must be said, it never reached the heights reached by its saint-poets earlier as in 'पीक पिकलें प्रेमाचें । सांठवितां गगन टांचें...' (Eknath एकनाथ) or 'mujhse pahli-si muhabbat mere mehboob na mang...' (Faiz Ahmed Faiz)]




Geeta Bali / Ingrid Bergman->




I don't think there is as much great music associated with Ms. Bergman as Ms. Bali!

Has IPL Pune Team's Logo Captured Poetry?

Economic & Political Weekly: The gladiatorial spectacle of IPL has brought the worst of our economic and cultural life to the open. (April 17-23, 2010)

The new IPL team 'Sahara Pune Warriors' unveiled the name and logo of its franchise at a grand ceremony in Pune on Saturday April 24 2010.

As expected, the logo- embedded below- is gladiatorial. But does it look good?

Historian T S Shejwalkar becomes lyrical describing a member of Maratha cavalry:

"...a coloured fluttering flag used to be attached to the spear; because of that the sight of shining tip of the spear in daylight along with fluttering flag looked graceful from a distance..." Panipat 1761, 1961.

(त्र्यं शं शेजवलकर:"...भाल्याला फडफडणारे रंगीत निशाणही अडकविलेले असे; त्यामुळे उन्हांत चमकणार्या भाल्याचे टोंक व त्याखाली धावताना फडफडणारे निशाण यांची दुरून मोठी शोभा वाटे..." पानिपत १७६१, 1961)

When I first read this description, I closed the book and tried to imagine that spectacle. The process was exhilarating.

Has the logo captured even a tiny fraction of Shejwalkar's poetic description?

What would have an artist like D G Godse (द ग गोडसे)- who once worked for an advertising agency- done with the idea?

Yes, Hitler was talking about Namby-Pambies of Today's Cricket

‘Tiger’ Bill O’Reilly after his leg was amputated: They can’t no-ball me any more.

It was reported widely in many Indian newspapers that Hitler wanted to use cricket to train troops for war but found it “insufficiently violent” for German Fascists.

If he had watched Bodyline series of 1932–33, he would have certainly not said so.

But when it comes to today's cricket, Hitler was right.

Mike Selvey:"The great Sir Viv (no surname needed) has been sounding off. Modern batsmen, he feels, are namby-pambies, donning their armour as if preparing for the tilting yard, human frailties cocooned and camouflaged behind all the padding and helmet. How can you test a man's mettle if it doesn't at least smart a bit when he gets hit?"

Kevin Mitchell: "There are individuals out there who use the body protection as a form of staying power," he (Viv Richards) said, "to go on as long as possible. That's the worst way anybody can be thinking, that you should cover yourself in a suit of armour, to make yourself brave, or to enable you to hook – when you never hooked in your life – just because you've got a helmet on. That's rubbish. Even though they say cricket is a gentleman's game, it's a man's game."

Also read this story told by Viv Richards:

"...I think I was pretty tough as a youngster. But (Brain) Closey was tougher still. He reinforced the message that you yield to no one...

...Man, he was brave. I remember playing against Gloucestershire and Closey was fielding at silly point. Mike Procter leant back and cracked a square cut. The ball hit Closey on the head and ballooned towards Dennis Breakwell. But Dennis watched the man rather than the ball and joined the rush to see if the captain was OK. When he came to Close's first words were "Did we get him?" He was none too pleased to hear that Dennis had failed to complete the catch...

...Anyway, at Old Trafford, Close got hit in the chest by Wayne Daniel and sank to the floor. OK, I was playing for my country, but this was my skipper on the ground and in pain. So I went up to him. "Are you OK, skipper?" Closey eventually gathered himself together and bellowed "Fuck off." What a man..."

Mike Atherton:

"...The advent of protection for batsmen from the late 1970s has been the biggest change to the game since the introduction of overarm bowling. It has altered profoundly the balance between bat and ball and changed batting techniques, to the point at which modern batsmen (Matthew Hayden and Kevin Pietersen, for example) can walk down the pitch to 90 mph balls and where some (Justin Langer, say) can play on despite numerous blows to the head.

That is before we even start talking about the strokes, such as the overhead “Dilscoop” that are routinely played in limited-overs matches, which would be a non-starter without helmets..."

The Times of India: Parental Guidance Suggested

When my 15-year old son is at home, he is often the first one to pick up the newspaper - The Times of India.

On February 11 2010, Pune edition's headline, on the front page columns 7 & 8, read:

"Babus can no longer ban porn sites" and gave 35 mm x 54 mm colour photo of Savita Bhabhi, a part of the picture is shown here- below left.

On the same day last page, they informed us how Brooklyn Decker, wife of Andy Roddick, "showed off her cover photo from a magazine in New York on Tuesday" by featuring a color photo of 75 mm x 95 mm size. See below right.

Newspapers in India are fighting TV and internet to grab 'urban young' readers. Many of them seem to think 'soft porn' is a way to go.