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Courtesy: Inc42Media : StartUP Closure


When You Have To Shut Down Your Startup

Aniruddha MalpaniFebruary 22, 2017 8 min read

COMMUNITY

One of my founders just called me. He was feeling extremely guilty and ashamed about the fact that he was going to have to shut his startup down because he couldn’t make ends meet. He had tried every option he could think of, but everything had failed. He was embarrassed and was scared that I would berate him. I was his largest angel investor, and he felt that he had let me down by burning through all the money and having nothing to show for it.
I tried to offer him a balanced perspective. “As an angel investor, I understand that most startups will fail – after all, this is the fate of most of them, so you don’t need to beat up on yourself. As an angel, it’s impossible to identify which startup will succeed, which is why I assume they are all going to fail when we invest in them. Now this doesn’t mean that I like throwing away my money. It’s just that I need to be realistic, so why would I get upset because your particular startup has failed. Logically, no matter how hopeful and excited I am when I sign the cheque, there is no logical reason to expect a particular startup to be the exception ( though I do agree that hope springs eternal in the human breast, and every angel feels that they have identified a winner when they sign their first cheque).”
What upsets me is not the fact that the startup failed, but that the founder refused to communicate with his investors even though he could see his startup was spiralling downwards. Rather than fulfill their feduciaryduty of keeping their funders in the loop, many founders clam up and enter prolonged periods of radio silence, during which the investors have no clue what is happening. The sanguine ones naively believe that ” no news is good news” and trust that all is well, which is why they get a rude shock then the founder tells them he is going to have to shut down in a few weeks.

Investors Hate Surprises

They have no idea what you have been trying; why you are failing; what you are trying out as your Plan B; and why nothing seems to be working. Investors will forgive failure, but they will not forgive failure to communicate. Not only is this a sign of disrespect, it also means you have betrayed their trust by hiding the dark truth from them, and this is not acceptable.
It is especially when things aren’t going well that you need to be radically transparent and honest. Interestingly, this is the time when a good angel can be worth his weight in gold. It is when you are at your wit’s end that you need an empathetic sounding board – someone who can help you think through your options objectively and thoughtfully.
The problem is that most good entrepreneurs feel guilty when they find they are failing. They try to hide this bitter reality – sometimes, even from themselves. They beat up on themselves because they feel they’ve let everyone down – their employees; their customers, their family, themselves, and their investors.
There’s no need for me to add to their angst – this is hard enough to manage as it is. And in any case, I’m a big boy. I understand that angel investments are a risky investment class and lots of them will fail.
I don’t think he had any reason to fear that I would give him a whiplashing. I am okay with forgiving failure – after all, I have failed many times in my own life. However, I am not okay with his trying to hide the truth.

Do Not Lie To Your Funders, Founders

I counselled him – You are young, and the end of your company doesn’t spell the end of your life  Even if the outcome of your startup was unhappy, as you worked hard and did your best; there’s nothing to be ashamed of. As we all know, shit happens – life is not always fair.
Sometimes you were just unlucky; or in the wrong place at the wrong time, and there’s nothing much anyone can do about this, so you need to accept your lesson from the school of hard knocks, and move on, rather than wallow in self-pity. Having to shut down your startup can be emotionally devastating because you feel like you’ve been forced to kill your first-born. It takes time to recover, but if you learn to be kind to yourself, you will bounce back quicker.

When It Is To Move On

It’s true that every entrepreneur ( and the angel investors who fund him) is sure that he will succeed when he starts his company, but unfortunately, not everyone’s dreams come to fruition. This is one of the most important lessons life can teach you, and you’re lucky that you’ve learned this so early thanks to your having the courage to start off as an entrepreneur. Give yourself some time to allow the wounds to heal, but please don’t become a recluse.
Make sure you comply with all the relevant government rules and regulations for shutting down a company. Don’t leave the paperwork incomplete – this may come back to haunt you later on.
I offered some suggestions which may help him to snap out of his despair. It’s useful to keep a detailed journal of your journey – this will allow you to ventilate, and spilling your guts in the privacy of your personal diary can be very therapeutic. It will allow healing to occur , so that you can move on. Otherwise, you may find yourself spending sleepless nights in playing the woulda, coulda, shoulda game, and that doesn’t help anyone. You need to stop living in the past and move on into the future.
It’s helpful to share your lessons with other entrepreneurs. You have experienced first hand how painful failure can be, and if they can learn from your lessons, maybe their chances of failing will go down.
I reminded him that, as a failed entrepreneur, his value in the startup world has increased a lot. The truth is that your chances of becoming a successful entrepreneur increase a lot after you’ve failed once. Not only do you have your domain expertise, you have also acquired valuable battle scars which only life can teach you – you can never get this from any MBA course or textbook! The fact that you’ve battled failure and managed to bounce back says a lot about your emotional resilience and your mental strength.
Don’t think of your failure as a weakness or as a blot – please don’t try to bury it, hide it or cover it up. In fact, you should be open about your failure, and wear it as a badge of honour. When you fail, please don’t try to pass the buck or offer spurious justifications. For heaven’s sake, don’t blame anyone else. Behave like a mature adult and accept responsibility for the failure gracefully, if you want to keep your self-respect.

In Conclusion

The next time you pitch to an investor, emphasise that this failure has also taught you what not to do. The reality is that the number of reasons why a company fail are fairly limited.
When you’ve been the CEO of a failing company, you’ve seen the reasons for the failure play out in front of your eyes, so that with hindsight wisdom, you are now aware of what you could have done differently to salvage the situation.
Please accept full responsibility for your failure. Be honest about what happened; why you failed; what you learned from your failure; and what you are going to do differently this time. You don’t need to change your domain, because that’s what you are an expert on, and you can make better use of your hard-earned lessons in the same field. In fact, if you keep the current investors in your failed startup in the loop they will continue to trust you, and may be quite happy to fund your next company as well!
Unfortunately, you’re not going to be able to turn the clock back, but you can make good use of those hard-earned lessons to make sure that you don’t repeat the same mistakes in your next startup. As compared to someone who’s never run a company before, you now have a phenomenal head start and are much more likely to do a much better job the next time around.
Finally, please remember the Serenity Prayer:
God grant me the serenity to accept the things I cannot change; the courage to change the things I can; and the wisdom to know the difference.
Failure is never final unless you decide it is.

[This post by Dr. Aniruddha Malpani first appeared on LinkedIn and has ben reproduced with permission.]
Note from Inc42: The views and opinions expressed are solely those of the author and does not necessarily reflect the views held by Inc42, its creators or employees. Inc42 is not responsible for the accuracy of any of the information supplied by guest bloggers.

Chanakya Niti : Courtesy : speakingtree

#1. 3-viewpoints

There’s always a viewpoint to anything and everything that you can see, 
hear or speak; viewpoint as a first person, the opponent’s perspective and the outside world. 
Always before making any decision, a person must think of these viewpoints, to ensure his 

#2. Never be easy in a competition

A person, who comes across as an easy personality to please, or come to help, 
can never make a success his own possession. Remember, in the battlefield of competition, 
such people are easily overridden and ousted by their opponents.

#3. Money is pivotal

Money is the only driving force of this world, the sooner you accept and understand this fact the better. 
Chanakya says it is important to create an illusion of wealth around you if you wish to seek immediate 
success; even if you do not possess it at the moment. 
The world blindly respects and trusts wealthy people

#4. Safe distance

Chanakya says that in order to seek immediate success, one must maintain a balanced distance 
with the source of his success; he/she must never be either too far from it nor too close. 
Like in the case of fire- being too far from it would never let you be able to cook food, 
but you must also not be too close, as it possesses a threat to your life.

QUOTE of the Day

“Real happiness is cheap enough, yet how dearly we pay for its counterfeit.”

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10 Photos of Incredible Street Art

THE ARTS

10 Photos of Incredible Street Art

LULUCAT9 DECEMBER 31, 2012

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Street art, perhaps contrary to popular belief, isn’t about vandalizing buildings – it’s about self expression, and getting a message out to the world that can often be thoughtful and provoking. It can take on many forms: rather than being limited to paintings, it can work its magic in such mediums as yarn bombing, lego, and even ice sculptures. Here are some good examples of what the best street artists can do:
10

Little People
Little People Street Art 6
This is a photo of a small plastic couple stranded on a tennis ball, complete with a plastic palm tree, representing a deserted island. It is on a beach right near the city, and they are looking out as though they’re waiting to be saved. It goes to show that even the smallest things can be turned into something wonderful.


9

Yarn Bombing
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This is one of my favorite yarn bombing pictures. The webs are crocheted in a colorful spiderweb pattern around what would usually be a very ordinary tree. The purpose of yarn bombing is to brighten up the world by crocheting patterns onto things like statues, pipes and even tanks. It certainly fulfilled its purpose here.
8

Ice Men
Screen Shot 2012-12-31 At 11.28.32 Am

These are men created from ice, and water is trickling down from them as the rising sun is melting them away. This piece symbolizes that nothing is permanent, and everything will fade away eventually.


7

Peace Dove
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This is a creation of one of the greatest and most well-known street artists of all time, Banksy. It is a peace dove wearing a bulletproof vest, and seems to be in the cross hairs of someone with a gun – representing that although the peace makers might be blessed, those who want peace are unwanted and will be eliminated in such a world as ours.


6

Dentist
Nomerz-Street-Art-Russia-Dentist-1
Nomerz-Street-Art-Russia-Dentist-2

This is a very clever piece by Nomerz. The broken bits of brick are turned into the teeth of a person with a cigarette in their mouth. Strikingly, it shows the effects of smoking, and how the habit it will completely destroy your teeth.


 
5

War Bug
Ludo-Street-Art-New-York-Chicago-La-6

This quirky painting was created by LUDO. It shows a bug that has been turned into a machine of war. The 3D picture looks like it is about to come out of the wall and attack someone. It can be found in Chicago.


4

LEGO
Lego-Art-8

In the nooks and crannies of many a city, you can find bits of LEGO filling up cracks and brightening walls, much like the yarn bombing creations. It is a very creative form of street art, and anyone can do it – all you need is a handful of LEGO!


3

Chalk Alien
Calk-Art-By-David-Zinn-2

This is a chalk creation that was drawn by David Zinn. It features a cute alien raking up the leaves and putting them under the pathway; real leaves are scattered around it to add to the effect.


2

Three Girls
Street-Art-In-Antwerpen-Belgium-1

This creation is a collaboration between two street artists, Antoine Stevens and Steve Locatelli. It is a colorful painting of three women shouting, the somewhat sci-fi pattern and design making it both shocking and beautiful at the same time.


1

“No brushes or stencils, just spray”
Street-Art-By-David-Walker-In-London-England

This amazing picture is by David Walker, and as the title suggests, he did not use any brushes or stencils. This is very unusual for a street artist to do, mostly because it is so difficult. The girl is made up of vibrant colors, while still remaining amazingly realistic – making the overall effect quite incredible.


10 Quirky But Cool Uses of English

THE ARTS

10 Quirky But Cool Uses of English

MIKAEL LEVIN DECEMBER 22, 2012


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The English language is wonderfully bizarre, and sometimes rather frightful. It is a composite of the best and worst that ancient languages have to offer, and native speakers often take it for granted that they can speak it with the utmost fluency.
English does have its fair share of problems, however – not least in lexical and semantic ambiguity. This list serves to shed some light on some of the quirks and idiosyncrasies which have made English one of the most widely discussed languages in the world.
10

Garden Path Sentences

20101105---Barn4

Example: The horse raced past the barn fell.


A garden path sentence refers to a type of sentence where an initial reading of the phrase will likely be incorrect; it will thus call for a re-reading. In this example, ‘raced past the barn’ is a reduced relative clause, meaning it lacks a relative pronoun – a who, which, or that. The correct parsing of the sentence would hence be ‘The horse – who was raced past the barn – fell.’ This gives a much fuller understanding of the sentence and it can now be understood that the word ‘fell’ is the main verb. 


Other interpretations can also exist; a ‘fell’ could be a noun (meaning a mountain or hill). In this sense, ‘raced’ could be the verb and ‘barn fell’ could mean the fell by the barn. This leads onto the next point.


9

Syntactic Ambiguity

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Example: I’m glad I’m a man, and so is Lola.


Syntactic ambiguity allows for multiple meanings of the same sentence. In Ray Davies’ (of The Kinks) seminal song Lola, he writes the lyric “I’m glad I’m a man, and so is Lola.” This can mean one of four things: “Lola and I are both glad I’m a man,” “I’m glad Lola and I are both men,” “I’m glad I’m a man, and Lola is also a man,” or “I’m glad I’m a man, and Lola is also glad to be a man.” Davies opted to use syntactic ambiguity on purpose and has never made it clear which interpretation is the correct one. 


Other sentences might hinge on the word order of a sentence: is “The Electric Light Orchestra” an orchestra consisting of electric lights, or is it a light orchestra that happens to be electric? I suppose we’ll never know.

 
8

Paraprosdokians
Paraprosdokians

Example: I’ve had a perfectly wonderful evening, but this wasn’t it.


The late great Groucho Marx is credited for this comic ingenuity, a sentence which is a prime example of a paraprosdokian: a phrase which figuratively sucker-punches you. The listener or reader will have to reframe or reinterpret the earlier clause.


From the Greek ‘para’ meaning ‘against’ and ‘prosdokia’ meaning ‘expectation’, a paraprosdokian leaves the reader somewhat baffled by the conclusion of the sentence. They are most often used for comedic effect (and can sometimes result in an anti-climax), especially by the supremely talented Mitch Hedberg: “I haven’t slept for ten days, because that would be too long.”


7

Generonyms, auto-antonyms, and synonyms

Shorter-Oed-Chuffed

A generonym is the brand name we use to mean an everyday item. These terms have seeped into the general psyche and are used more often than their technical counterparts. We almost always ‘Google’ something instead of doing an ‘online search’. Perhaps one day I will choose to ‘Bing’ it. In the US especially, many people refer to cotton swabs as ‘Q-Tips’ after their brand name. Increasingly more popular nowadays is the process of ‘Photoshopping’ an image, after Adobe’s software of the same name. 


Auto-antonyms are words with multiple meanings, two of which are antonyms of one another. Some are used in everyday language without our realising it: the word ‘off’ is guilty of this. We can turn something off, meaning it will cease to be on. Conversely, the alarm can go off, meaning it has – rather bizarrely – just turned on. In more technical terms, a ‘strike’ can, in baseball terminology, mean a hit or a miss. 


Synonyms are certainly the most well-known lexical phenomenon in this list; but did you know that synonym has a synonym? That word is ‘poecilonym’. A synonym (or poecilonym) is a word which has a similar understanding and meaning to another word: ‘happy’ and ‘content’ are, for all intents and purposes, synonymous with one another.


6

Headlinese

Screen Shot 2012-12-20 At 3.38.14 Pm

Example: Squad Helps Dog Bite Victim.


Headlinese is the nonconversational, quick language which is used for headlines (usually of print newspapers, where space is an issue). Headlinese often uses shorter synonyms and articles are usually omitted. Verbs are in the present tense, unless the future is mentioned – in this case, the full infinitive is used (“Obama to sign healthcare bill”). 


Contractions and abbreviations are utilised for ease of reading as well as the aforementioned space-saving mechanism. The Republican Party is often referred to as ‘GOP’ by the US media, while honorific titles are usually discarded. ‘The Right Honorable Prime Minister David Cameron’ becomes the much easier to digest ‘Cameron’.


As noted in the example, the simple headline, which we all know and love, can often fall foul of listing number two and result in an unintended comedic climax.


 
5

Malapropisms
Screen Shot 2012-12-20 At 3.45.07 Pm


Example: Our watch, sir, we have comprehended two auspicious persons.


A malapropism occurs chiefly when a word or phrase means something different from the word the writer or speaker intended to use, or if the resulting sentence is nonsensical. The phrase above comes from Act II Scene V of William Shakespeare’s comedy Much Ado About Nothing, in which the hapless Constable Dogberry informs Governor Leonato that he has captured a couple of people who are thought to have committed a crime; Dogberry mistakenly uses the words “comprehended” and “auspicious” when, of course, he meant to use “apprehended” and “suspicious.” Comic ruckus arises soon after.


The primary reason given for the use of malapropisms, especially in spoken English, is the increasing need for people to use complex language in order to communicate their desire to be seen as intellectually superior to others. 


4

Parataxis

In-A-Station-On-The-Metro

Example: Veni, Vidi, Vici.


I came, I saw, I conquered. These words uttered by serial river-crosser and one-time Roman dictator Julius Caesar, a paratactic sentence encompasses a train-of-thought mind-set where a following clause is coordinated by the previous one. In an homage to the metaphysical adherences of culture in the 21st century, the previous sentence was an example of (an unusually long) parataxis. In spoken English, rhythm, timing, and intonation set the mood for parataxis. When writing, it is important to note that psychological expression and means to express paratactic structure are important in developing a paratactic sentence.


Swift and short coordinating sub-clauses can also be used in poetry to conjoin and juxtapose two seemingly distant and fragmented ideas into a morally ambiguous sentence for the reader to infer meaning.


3

Semantic Nonsense

Wittgenstein-F

Example: Colorless green ideas sleep furiously.


Veritable wordsmith Noam Chomsky devised the phrase used in the example as a way to illustrate the idea that logical and grammatically correct sentences can still have no obvious meaning. Worlds collide as mathematical probability and sentence structure attempt to explain the idea of remoteness in the English language. A sentence which seems to unnaturally occur in the discourse of English will be ruled out for being too remote; a statistical model has been devised to calculate the probability of a sentence occurring. If such a sentence is outside the previously ascertained boundaries, the phrase will be unceremoniously cast away to the coffee-stained pages of linguistic textbooks as an example of logical nonsense.


The sentence itself has gained fame since its inception by Chomsky in 1955. Interpretations have been wild, but the ‘closest’ – figuratively, of course – has been “Newly formed bland ideas are inexpressible in an infuriating way.”
2

Lexical Ambiguity

Going Gets Tough

Example: Buffalo buffalo Buffalo buffalo buffalo buffalo Buffalo buffalo.


This unnecessary sentence is a prime example of lexical ambiguity, in which homonyms (words with the same spelling and pronunciation, but different meaning) and homophones (words that simply sound the same) can be combined to form a complex sentence structure with grammatical validity.


The proper noun Buffalo – a city in New York – is present, as is the animal buffalo. The third and most unusual term offered is that of the verb ‘to buffalo’ which means ‘to bully’ or ‘to intimidate.’ A more coherent parsing of the sentence would be “The buffalo from Buffalo who are buffaloed by buffalo from Buffalo, buffalo other buffalo from Buffalo.” The sentence offers little doubt that bison from New York are sentient and capable of emotionally scarring other bison from the surrounding area.

Buffalo.


1

Deixis

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Example: It is raining outside now, but I hope that when you read this it will be sunny.


In this deictic sentence, context is required. The given example is known as temporal deixis and is contingent on the use of a timeous word which changes the meaning based on the moment in time it is said. The exact time the word ‘now’ refers to changes constantly. ‘Tomorrow’ is always the next day and that can never change, but the exact day tomorrow is always changing.


Deixis also exists when a place is discussed. “I live here” changes depending on where one lives. Likewise, “How is the weather over there?” remains an ambiguous sentence through the use of the deictic adverb ‘there’.


The final common form of deixis involves the person: “Would you go to dinner with me?” changes meaning depending on whom the ‘you’ in the sentence is. This is made even more difficult to understand in reality if more than one person is present and the speaker has no general focus.

Top 10 Female Artists Who Were Institutionalized

THE ARTS

Top 10 Female Artists Who Were Institutionalized

FLO OCTOBER 25, 2012


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In a society dominated by men, it took a long time before women could be heard or even seen. And it is neither a secret nor a surprise to say that many women’s voices remained closely guarded inside the walls of psychiatric hospitals. Few women that were institutionalized had a powerful enough voice or talent that enabled their works to resonate outside of those walls. The few that did are still echoing in society today.
10

Emma Santos
1943-1983
9782721000408Fs
Emma Santos might be the least popular on this list but I think her voice and her writing are so powerful that she deserves to be here. In the 1970s, she was frequently passing in and out of psychiatric hospitals. Her doctor, Roger Gentis, asked her to write about her life, which she did. One book after the other (she published 8 books) document her experience inside the walls of the asylum – walls which never ceased to haunt her.
9

Valerie Valere
1961-1982
Valere
Valerie Valere was hospitalized in an asylum at 13 years of age for anorexia. Her treatment lasted a few months, which was long enough to traumatize her deeply. A few years after she left the hospital, she wrote a biography about her experiences (Le Pavillon des infants fous). Writing about her traumatic and involuntary imprisonment allowed her to finally talk about things she had locked away; she was one of the lucky ones who had a chance to be heard for the first time. When her book was published she became very popular in France (she is still quite popular today). For the first time, someone was listening to her voice. She published a few other books before dying at the age of 21. The causes of her death is still unknown today (though there are rumors of medication overdose).
8

Janet Frame
1924-2004

Janet Frame is a New Zealand writer. Her childhood was marred by the drowning of her two sisters. In 1945, at the end of her teens, she was diagnosed with schizophrenia and interned in an asylum. Inside its walls, she received hundred of electroshocks. It is also during this period that she started writing. This writing saved her from a lobotomy because she received a literature price just prior to the surgery. In 1961, her novel about her experiences in the asylum, “Faces in the Water,” was published – making her very popular. She continued to write all her life. She died in 2004 of leukemia. She is one of New Zealand’s most prized writers and there is even a movie about her “An Angel at my Table” by much lauded director Jane Campion.
7

Mary Barnes
1923-2001
Obit1
Mary Barnes was a British painter who was diagnosed with schizophrenia. She voluntary admitted herself to Kinsley Hall in London, which was an experimental and anti-psychiatry community created by Ronal Laing. The object of this community was to cure patients without the use of psychiatry. She eventually recovered completely from her schizophrenia and became a successful painter. She became popular after the publication of her book about her experiences in Kinsley Hall that was written in collaboration with her psychiatrist at that time, Joseph Berke.
6

Unica Zurn
1916-1970
175Px-Unica Zurn-1
Unica Zurn was a German writer. She came from a rich family but was emotionally very unstable. She met the artist Hans Bellmer and he introduced her to the surrealist artistic movement that was popular at the time. She created anagrams and drawings and she was talented enough to be published in Berlin’s gallery, Springer. A few years later, she met Henri Michaux, the surrealist writer, and her new friendship with him had a profound effect on her emotional well-being. She wrote “Der Mann I’m Jasmin,” a beautiful, poetic and profound book about the man that she loved. Soon after, she would be hospitalized in a psychiatric clinic because of depression and psychosis. She tried to kill herself. It was to be the first of multiple stays in psychiatric clinic – in Berlin and France. She killed herself in 1970.
5

Camille Claudel
1864-1943
Camille Claudel
Camille Claudel was a French sculptor. She is known for her tumultuous relationship with Auguste Rodin. At first, he was her teacher, but quickly, as he became aware of her talent, he began to consult her for every piece of art he was making. They started to create sculptures together but Anguste Rodin got all the media attention and Camille Claudel was still seen only as his student. Eventually, she took off on her own but didn’t get the recognition she deserved. In 1913, she was interned in a psychiatric hospital in France and stayed there for the rest of her life. She was miserable there and stopped sculpting – receiving only a few visit from her brother (the other members of her family just ignored her). In 1943, she died of malnutrition, alone and depressed in the hospital.
4

Aloize Corbaz
1888-1964
A121
Aloize was a Swiss artist. She was hospitalized in a psychiatric hospital during the first World War for schizophrenia. It was only after 1920 that she started drawing and painting. When Jean Dubuffet, the theorist that created the concept of Art Brut, included her work in his collection, she became a major representative of the movement.
3

Zelda Fitzgerald
1900-1948
220Px-Zelda Fitzgerald Portrait
Zelda Fitzgerald was married to the famous writer Francis Scott Fitzgerald in 1920. They were both regular members of the most prestigious literary clubs in the USA and in Europe. Their glamorous life where champagne was easily accessible had a perverse effect on the couple: Scott slowly became a paralyzed alcoholic and Zelda’s emotional instability led her to multiple psychiatric hospitalizations. In 1930, she was diagnosed with schizophrenia. In 1932, in Towson psychiatric clinic, she wrote “Save Me the Waltz,” an autobiographic novel about her life with her husband. In 1948 she died in a huge fire in the psychiatric hospital where she was staying (Highland Mental Hospital).
2

Suzanna Kaysen
1948
Susanna Kaysen-1
Suzanna Kaysen wrote “Girl, Interrupted” in 1993. It is a memoir of her hospitalization in MacLean Psychiatric Hospital in 1967. She stayed there for eighteen months for depression and borderline personality. In 1999, James Mangold created a cinematic adaptation of her book in which she is portrayed by Winona Ryder and Angelina Jolie interprets brilliantly another patient.
1

Sylvia Plath
1932-1963

Sylvia Plath was a writer and American poet who was married to the poet laureate Ted Hughes. Soon, her talent as a writer was uncovered. She published her first poem at the age of eight years-old and she never stopped publishing. In her life, she published a dozen books (all but one were poetry); her only novel was The Bell Jar (1963). Her life was a dark and heavy struggle against her bipolar disorder that she lost when she killed herself in 1963 at the age of 30. In the clip above Plath reads her own incredible poem “Daddy.”

10 Insane But Brilliant Ways Ancient China Fought Its Wars

FACTS

10 Insane But Brilliant Ways Ancient China Fought Its Wars

MARK OLIVER FEBRUARY 19, 2017


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The Chinese made war into an art form. Thousands of years ago, they wrote strategy guides that are still referenced today. They were incredibly inventive and brought the art of deception into warfare in ways that other countries would never have imagined.
Chinese battle tactics were inventive, bizarre, and often downright brilliant. Their military history is full of some of the strangest ideas you’ll ever hear—and ideas you won’t believe really worked.


10The Dancing Girls

10c-tang-dancers
Photo credit: FA2010
In 623, when he saw the Tuyuhun hordes storming down the hills to raid the Tang Empire, General Chai Shao knew he was in trouble. He was outnumbered, overpowered, and had the weaker ground. In a fair fight, he knew, he wouldn’t have much of a chance—and so he didn’t fight fair.
Instead of sending soldiers to meet the invading army, he sent out two beautiful women and a few pipa players. They walked onto the battlefield in front of the invading army and started doing a sexy dance.
The Tuyuhun were confused—and probably a little lonely. They stopped charging and watched the girls dance, trying to figure what in the hell was going on and where in the world the Tang army had gone.
Meanwhile, that army was marching around the hill. With the Tuyuhun distracted, the Tang army charged the Tuyuhun from behind and crushed them. A horde that had been raiding the country for years was finally defeated—because of two girls doing an erotic dance.

9The Yue Suicide Squad

9-king-goujian
Photo credit: cultural-china.com
Nearly as soon as he took the throne in 496 BC, King Goujian of Yue had to deal with an invading army. He didn’t have much experience in leading a country or an army yet. He knew that fear and the element of surprise were important, so he tried them out—by having his men do the absolute last thing anyone would expect.
Before the battle, Goujian organized the most literal suicide squad in military history and put them on his front lines. He marched his men out onto the battlefields and had them stare the enemy in the eye. Then his front line slowly slit their own throats.
The invading army didn’t know what to make of this, except that it was freaky as hell to watch men cut their own throats while they hate-stare you down.
The rest of Goujian’s army charged into battle. The enemy army, now convinced that they were fighting complete sociopaths, was scared out of their wits. Their formations broke, and their lines fell—and Goujian won his victory.


8The Burning Cattle Charge

8-tien-tans-fire-bulls
Photo credit: npm.gov.tw
The city of Chi-mo had been under siege for five years before T’ien Tan was given charge of their army in 279 BC. Outnumbered, they were surrounded by 100,000 men against their 7,000—at least, by some likely exaggerated accounts. But the Chi-mo army had managed to hold their ground.
Then T’ien Tan fought the enemy army off—with cattle. He herded together 1,000 oxen, covered them with red cloth, and tied blades to their horns. The Chi-mo men soaked reeds in fat and tied them to the oxen’s tails. Then, in the middle of the night, they set the reeds on fire and let the oxen go.
Inside the city walls, old men and boys started pounding the drums as loudly as they could. The enemy army woke up—and saw 1,000 flaming cattle charging toward them.
Over the sounds of the drums and the cattle, they didn’t hear the soldiers of Chi-mo sneaking into position all around them. The Chi-mo army pounced. Overwhelmed by the stampede and the soldiers, the enemy army fled.

7The Jealous Wife

7e-chinese-princess-621615532
The Xiongnu army had crushed the Han Empire in every battle. In 199 BC, the Han emperor retreated to the city of Pingcheng, but the Xiongnu pursued him. The city walls were surrounded. The Xiongnu horsemen cut off the city’s supplies and contact with the outside world and started to starve the people out.
Inside the city walls, the emperor’s adviser, Chen Ping, came up with an idea. They couldn’t beat their enemy on the field, but they might be able to get rid of them.
He had an artist paint a picture of the most beautiful woman that he could and had it sent to the wife of the Xiongnu commander. Attached was a note that read: “My emperor intends to surrender to your husband, and so, to win his favor, he is sending him a present of one of China’s famous beauties to be his concubine.”
Overwhelmed with jealousy, the Xiongnu commander’s wife destroyed the note. She went to her husband and demanded that he lift the siege immediately and they return home. By morning, the Xiongnu army was on their way home. The commander wasn’t afraid of any army, but he was afraid of his wife.

6The Arrows Made Of Straw

6-zhang-xun
Photo credit: history.cultural-china.com
When Yin Ziqi led his army to invade the Tang Empire in AD 755, his men followed him out of respect. He was a capable and brilliant leader, and the defending army knew it. Their general, Zhang Xun, was sure that he could break the enemy’s spirit if he could kill Yin Ziqi.
But there was one problem. He had no idea what Yin Ziqi looked like. To find out, Zhang Xun ordered his men to stop defending their position with real arrows. Every archer in his army was issued a pack of arrows made of straw.
When Yin Ziqi’s men approached and saw these weak little things flying out at them, they became convinced that Zhang Xun’s army was out of arrows. They rushed over to report it to Yin Ziqi, and Zhang Xun got his first glimpse of his enemy.
Yin Ziqi was sure now that he was against a powerless enemy, and he charged forward. Zhang Xun’s men, though, used real arrows this time—and Zhang Xun ordered every single one of them to target Yin Ziqi. It didn’t take long before an arrow went through Yin Ziqi’s eye. With their hero dead, his army scattered and fled.


5The Seven Captures Of Meng Huo

5-zhuge-liang
Photo credit: Gisling
In the third century AD, the Shu Han kingdom was dealing with an uprising that wouldn’t be quelled. They had the power to beat the rebels in every battle, but they couldn’t break their spirit. No matter how many times the kingdom tried to stomp the rebels out, the insurrection kept popping back up.
Chancellor Zhuge Liang managed to capture the rebel leader, Meng Huo, and tried to persuade him that his followers had no chance. Meng Huo, however, would not believe it. The rebels, he told Zhuge Liang, would keep fighting until they won—even if he wasn’t alive to see it.
Instead of making a martyr out of him, Zhuge Liang let Meng Huo return to his army. They met on the field again, and Meng Huo was captured once more. When Meng Huo still refused to surrender, Zhuge Liang let him go—and captured him again.
Zhuge Liang had to capture and release Meng Huo seven times before Meng Huo finally realized that, no matter what he did, Zhuge Liang would defeat him. Finally realizing that it was hopeless, Meng Huo pledged allegiance to the throne. He ordered his followers to end the rebellion, and the insurrection ended forever.

4The Parting Of The Wei River

4a-han-xin
Photo credit: theepochtimes.com
In 204 BC, Han Xin was a young and inexperienced commander fighting against a more capable foe. His enemy, Long Ju, had won more battles than Han Xin had ever seen. Long Ju was sure that he would make quick work of Han Xin—and that confidence, Han Xin realized, was how he could beat Long Ju.
The two armies were divided by a river, and both were waiting for the other side to cross. Han Xin ordered some of his men to go upstream and dam the river off with sandbags until nothing more than a trickle was in their way. Then he led his men across.
Han Xin’s army charged Long Ju’s men, but they didn’t fight long. Han Xin’s army feigned a retreat nearly as soon as the battle began. Long Ju, sure that his young rival was just a coward, charged after him.
As soon as Han Xin’s men crossed the river, though, they broke open the dam. The river came roaring toward Long Ju’s army. Some of his men were swept away, and some were trapped on the other side, unable to cross.
But Long Ju himself was stuck on the enemy’s side of the water with only a few men to defend him. Long Ju’s men could only watch from across the water as their commander was cut down in front of them.

3Sima Yan’s Burning Navy

3a-sima-yan
Photo credit: Yan Li-pen
Sima Yan had conquered nearly all of China. In AD 280, only one kingdom stood in his way—the kingdom of Wu. Their king lived in terror, knowing that it was just a matter of time before Sima Yan attacked. The king spent his time drunk and paranoid. Sure that everyone around him was a spy, he had nearly all his advisers executed.
When he heard that Sima Yan’s ships were approaching, the king of Wu set up a bamboo barrier across the river to block them. He would trap them in the river and destroy them before they could reach the city.
It was good plan. But as it turned out, his paranoid fears weren’t so crazy after all. He really was surrounded by spies, and they told Sima Yan’s general, Wang Jun, about the barricade.
Wang Jun had his men build huge rafts and load them with straw dummies soaked in oil. He dressed the dummies in armor and sent them sailing toward the capital of Wu. When they hit the barricade, a trip line went off and the ships burst into flames. They burned through the barricade and went into the capital, filled with what looked like burning demons.
The people of Wu, sure that they were being attacked by fiery demon ships, fled in terror. Then Wang Jun simply had to walk in to capture the kingdom.

2The Battle Of Chengpu

2-battle-of-chengpu
Photo credit: history.cultural-china.com
When the Chu army saw the army of Jin marching forward in 632 BC, they probably noticed something strange. Every one of their chariots had a tree dragging behind it. With the attack about to begin, though, the Chu army didn’t have time to worry about it. They just did the best they could to fight off the enemy.
It didn’t take long before the Jin army retreated, and, sure they were winning, the Chu army chased them down. The chariots, though, still had those trees dragging behind them. The branches kicked up dust as they went, and before they knew it, the Chu army was lost in a cloud.
But the Chu army didn’t know that they were fighting only one flank of the Jin army. The other flank had fought its way over to the other side. Once the Chu army was lost in the dust, that flank came stampeding toward them from behind.
The Chu army was blind in the dust. When they turned their attention to the new soldiers attacking them from behind, the flank that they thought was retreating turned on them. The Chu army was trapped and blinded. They didn’t last long.

1The Death Of Zhuge Liang

1a-sima-yi-fleeing
Photo via Wikimedia
Zhuge Liang was one of China’s most feared generals. He had a reputation for always having a trick up his sleeve. When he put Sima Yi’s army under siege, Zhuge Liang was outnumbered. But Sima Yi still wouldn’t meet in the field, sure that Zhuge Liang would have a trap waiting for him.
As the siege wore on, though, Zhuge Liang got sick. He died in AD 234 before the battle could begin. Disheartened, his men gathered up his body and started to march home.
Sima Yi, upon hearing that Zhuge Liang was dead, took the opportunity and struck. Sima Yi sent his men after the retreating army, sure that he could crush them easily without their expert strategist.
All Zhuge Liang’s men had to do to stop them, though, was to turn around and pretend to be ready to fight. As soon as they did, Sima Yi became convinced that Zhuge Liang had faked his death as a trap. His army, terrified of the dead man, retreated to their city—and Zhuge Liang’s body was brought home.
MARK OLIVER

Mark Oliver is a regular contributor to Listverse. His writing also appears on a number of other sites, including The Onion’s StarWipe and Cracked.com. His website is regularly updated with everything he writes.
Read More: Personal Site

Chhatrapati Shivaji’s Bengaluru days

Petlee PeterTNN | Updated: Feb 19, 2017, 10.26 AM IST

HIGHLIGHTS

  • Shivaji spent some of his childhood here, but details of the period are limited and sketchy.
  • Historical records say that Shivaji came to Bengaluru as a 12-year-old with his mother Jijabai to meet his fater Shahaji Raje, who then ruled Bengaluru.

 Chhatrapati Shivaji Chhatrapati Shivaji

BENGALURU: On 10th January, 1966, French explorer and linguist Jean de Thevenot landed in Surat, after embarking from the port of Basra on the ship Hopewell. De Thevenot spent several months in Mughal India, and then made his way further south, to what are present-day Andhra, Telengana and Karnataka. During his travels through the Deccan, he met with a rising local ruler. He recorded his impressions of the meeting in his journal, with the words, “The Rajah is small and tawny with quick eyes which indicate abundance of spirit.” Later on, the chaplain of Bombay, John L’Escaliot, would describe this remarkable man as “of an excellent proportion, active in exercise, and whenever he speaks, he seems to smile; (with) a quick and piercing eye”.

The man with the “quick eyes” was none other than Shivaji, then lord of the Bhonsle warrior clan, the man who would go on to become the founder of the mighty Maratha empire. Today, of course, is his birth anniversary (his 387th, if we go by the generally accepted date – there are other accounts where his year of birth has been given as 1627), and there will be great celebrations of the Maratha icon in Mumbai and other parts of Maharashtra, the core of his empire.

But Shivaji had a significant connection to Bengaluru as well. He spent some of his childhood here, but details of the period are limited and sketchy.Historical records say that he came to Bengaluru as a 12-year-old with his mother Jijabai to meet his father Shahaji Raje, who then ruled Bengaluru. According to city historian and author Maya Jayapal, Shahaji summoned Jijabai and their second son to Bengaluru. “Shivaji lived in Bengaluru for some time between 1640 and 1642 and took a liking to the city,” she says.

“Shivaji stayed in Bengaluru for a few years and his wedding took place in between. He liked the place and wanted to stay on for longer,” says city historian Suresh Moona, citing recordings from the Bengaluru Darshana, a city chronicle.

In 1973, well-known historian Sir Jadunath Sircar wrote a book titled Shivaji and his Times. In it, he records Jijabai’s letter to her husband Shahaji, where she tells him that the 12-year-old Shivaji, has gone long past marriageable age for a Maratha nobleman. The letter may have been the trigger for Shahaji asking Jijabai to Bengaluru, bringing their son with her. Shivaji duly arrived in Bengaluru around 1640, accompanied by Jijabai and Dadaji Konddeo, the head of Kondana fort and Shivaji’s guardian.They came to Shahaji’s Bengaluru palace, where he was residing with his second wife Tuka Bai and son Vyankoji (aka Ekoji), writes Sircar.

Sircar also provides details of Shiva ji’s wedding to Saibai Nimbalkar of Phaltan in Bengaluru, after which Shahaji bestowed him with powers to rule Pune.He sent the couple back in 1642 along with four handpicked administrators Shyamraj Nilkanth Ranjhekar as chancellor, Balkrishna Hanumante as accounts general, Sonaji Pant as secretary and Raghunath Ballal Korde as paymaster.

DV Kalauvkar, a retired school teacher who lives in Indira Nagar, has been researching the Maratha Empire since 1999. According to him, Shivaji’s first wedding to Saibai took place at Lal Mahal in Pune in the absence of his father. “Shahaji summoned the couple with Jijabai, and the wedding ceremony was conducted again in Bengaluru at Shahaji’s palace,” says the 72-year-old researcher.

The exact location of the palace where Shahaji lived and governed Bengaluru remains disputed with historical records providing little information. The Karnataka State Gazetteer of Bangalore District (Urban) edited by the late Karnataka historian Suryanath U Kamath speaks of a Gaurimahal Palace in the present-day Chickpet area where Shahaji is believed to have lived. This is also supposed to be the place where Shivaji and his elder brother Shambhaji spent some years of their childhood.

Historian M Fazlul Hasan in his famous book Bangalore Through The Centuries describes a Gowri Vilasa Hall in the city where Shahaji lived and conducted court. Hasan quotes a poem – a Sanskrit champu – called Radha Madhava Vilasa, which the poet, Jayarama Pandye, is said to have read to Shivaji and Shahaji at the Hall.

Hasan speculates that the Gowri Vilasa Hall was perhaps inside the old palace built by Kempe gowda, built at what is now the dilapidated Mohan buildings (built in 1909) and the defunct Vijayalakshmi theatre building in Chickpet stand.

Another link between the Marathas and Bengaluru is explored in Bengaluru to Bangalore by Annaswamy TV. According to Annaswamy, Shahaji repaired Kempegowda’s fort, reinforcing its four towers and nine gates. He too, places the fort in the Chickpet area.

SHIVAJI MEMORIAL IN SADASHIV NAGAR

In Sadashivnagar still stands the 14ft tall and six ft wide bronze statue of Chhatrapati Shivaji on a two-storey fortress like structure. Unveiled on January 10, 1993 by then Maharashtra Chief Minister Sharad Pawar alongside his Karnataka counterpart M Veerappa Moily, the statue was the subject of protests by linguistic groups and it took over a decade for the statue to be unveiled to the public after it was originally commissioned in 1983.

SHIVAJI THEATRE ON JC ROAD

A landmark cinema hall in the Garden City, the Shivaji theatre near the Town Hall was unveiled by Sir Mirza Ismail, then Diwan of Mysore, in 1940. Former Bangalore city mayor and Karnataka Film Chamber of Commerce President KM Naganna took the hall on lease from its Marathi owners and operated the place till the early 1980s. The theatre building with the statue of Shivaji displayed prominently on top was partly demolished in the late 80s and has been used as a warehouse ever since. But the statue still stands on the dilapidated structure and can be seen as you pass the busy JC Road.

Samsung heir arrested for bribery

Lee Jae-yong, the vice chairman of Samsung Group, was arrested and jailed Friday in Seoul on bribery charges.
The arrest came shortly after a judge in the Seoul Central District Court issued a warrant.
Lee, 48, whose family controls Samsung, is accused of paying $36 million in bribes to President Park Geun-hye’s confidante, Choi Soon-sil.
In return, prosecutors allege he received political favors, including support for a merger of two Samsung affiliates in 2015. The merger allowed Lee to take de facto control of Samsung.
Lee’s father, Lee Kun-hee, is incapacitated but remains Samsung’s chairman. The company is the biggest chaebol, or family run conglomerate, in South Korea.
Prosecutors also charged Lee — who’s also known as Jay Y. Lee — with embezzlement, illegal transfer of property abroad, and committing perjury during a parliamentary hearing.
South Korea President Park’s powers were suspended by parliament in December for abuse of office. The Constitutional Court will decide if she’ll be permanently removed from office or reinstated.
___
Richard L. Cassin is the publisher and editor of the FCPA Blog.

Courtesy: The FCPA BLOG

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HR Headlines – courtesy: Naukri.com

HR HEADLINES
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Cities beyond the top metros record growth in jobs during January 2017: Naukri Job Speak Index
In an overall buoyant job market, Jan 2017 recorded growth in jobs beyond the top metro cities, when compared with Jan 2016. The Index recording a YOY increase of 3%, from 1659 in Dec 2016 to 1707 in Jan 2017. Within top metros Delhi/NCR, Mumbai and Bengaluru witnessed a decline in hiring activity of 11%, 8% and 6% respectively. Amongst other metros, the jobs index recorded a growth of 3% in Hyderabad and Chennai, 15% in Pune and 24% in Ahmedabad when compared y-o-y. The IT-Software Industry in India has been buoyant with no visible impact in hiring of professionals. Insurance jobs also went up by 20% in the same time period. While the Telecom/ISP industry saw a 23% slump, the BPO industry saw a 5% gain in Jan 2017 as compared to Jan 2016. Jobs in the Oil & Gas and Power, Infrastructure industry saw a 28% fall in Jan 2017 as compared to Jan 2016. Construction and Engineering jobs decreased by 10% during the same period. Banking and Financial services jobs saw 1% fall in Jan 2017 when compared to Jan 2016. While IT- Software jobs saw a drop of 2% YOY, BPO jobs saw a gain of 6% for the same time period. Accounts/Finance and Production jobs decreased by 6% and 11% respectively since Jan’16. Sales/BD and HR saw a 1% and 2% decrease respectively in Jan’17 when compared to Jan’16. Teaching and Education saw a 20% increase in Jan’17 when compared to Jan’16. Hiring in Marketing and Advertising saw a 6% fall in the same period.
Source : 13-02-17   Naukri.com   Compiled by www.naukri.com
Top-level exodus continues at Ola, after Mr. Rajiv Bansal’s exit
Ola, India’s largest ride-hailing service, continues to witness a spate of top-level departures, at a time when the Bengaluru-based start-up is locked in a fierce market-share battle with Uber and is almost certain to raise its next round of funding at a lower valuation. Apart from the exits of chief financial officer (CFO) Mr. Rajiv Bansal and marketing chief Mr. Raghuvesh Sarup, Ola’s chief operating officer of offline initiatives Mr. Anuj Bhargava—one of the company’s key architects behind recent initiatives such as Ola Play—has also resigned. As part of the Ola Play initiative, Ola installed tablets in its cabs through which customers can access personalized content such as music, movies, shopping, and also control the air-conditioning. Several other senior directors have quit in the last few weeks. Ola confirmed Mr. Bhargava’s departure from the company, but denied the exits of any other executives. Mr. Sriram V. Iyer, head of engineering and senior director at Ola, has also quit. The exits come at a time when Ola is facing unprecedented churn across its ranks and, as a result, has been forced to hire executives from top companies such as Pepsi to fill some of these vacancies. Ola has simultaneously conducted a reshuffle across its business units, the people mentioned above said. In January, Ola named Mr. Vishal Kaul, a PepsiCo veteran, as its chief operating officer (COO) and elevated former COO Mr. Pranay Jivrajka as a founding partner. In January, Ola also hired former SAB Miller India executive Mr. Shalabh Seth as the chief executive of its leasing subsidiary Ola Fleet Technologies Pvt. Ltd to help grow the supply of cars. The company has, however, struggled with senior-level exits. Some of the senior executives who have quit include Mr. Sunder Sahni, a former executive at e-commerce firm Lazada Indonesia who was hired as vice-president of new initiatives, and Mr. Abhimanyu Rawal, head of Ola’s luxury car business.
Source : 13-02-17   Livemint.com   Compiled by www.naukri.com
Snapdeal plans to layoff 1,300 employees, will assess resources
With an aim to cut costs, struggling e-commerce firm Snapdeal is likely to downsize its team by around 1,300 employees, a major chunk of which is expected to happen soon. The segments which will be affected the most include marketplace health team from which around 38 people are being let go off. One of the people quoted above on the condition of anonymity said that this includes downsizing of the California team as well. Snapdeal had set up its data centre in California in May last year. The company has an estimated headcount of over 4,000 employees now. Responding to a query, a Snapdeal spokesperson said: “On our journey towards profitability, it is imperative that we continue to drive efficiency in our business, which enables us to pass on the value to our consumers and sellers. As in the past, and like all good companies do, we will continue to assess resource allocation in furtherance of our goals of enhancing customer and seller experience while driving high quality growth.” A bunch of senior level executives have already exited the company including Mr. Tony Navin, senior vice president of partnerships and strategic initiatives and Mr. Abhishek Kumar, head of merger and acquisitions and investments. The move comes barely a month after Mr. Jason Kothari the former chief executive officer of beleaguered real estate startup Housing.com was parachuted into the company as its chief strategy and investment officer.
Source : 13-02-17   Moneycontrol.com   Compiled by www.naukri.com
Myntra makes CMO Ms. Gunjan Soni head of Jabong
Flipkart-owned online fashion portal Myntra has appointed Ms. Gunjan Soni as head of its recently acquired unit Jabong, as the company looks to extend its lead in the online fashion space – one of the few large categories where the Indian firm outperforms rival Amazon. Ms. Soni’s elevation to the position comes at a time when Mr. Ashutosh Lawania, who along with Mukesh Bansal co-founded Myntra in 2007, has quit to start his new venture. The void Mr. Lawania creates will be filled by chief people officer Mr. Manpreet Ratia, who will take on the additional charge of supply chain. The movements have resulted in a comprehensive top level management rejig at Myntra, with CEO Mr. Ananth Narayanan continuing to remain the top boss for both of Flipkart’s fashion units. Myntra’s rejig follows that of parent Flipkart’s which saw the elevation of former Tiger Global executive Mr. Kalyan Krishnamurthy to the position of CEO in January. Mr. Naresh Krishnaswamy, who joined Myntra as a business analyst in 2012 has been given a seat in the top management, while continuing to head sales and new initiatives. He has been responsible for key sale events, driving engagement through price reveals and gamification of the Myntra platform. Apart from being given the responsibility of handling Myntra’s supply chain, Mr. Ratia, an ex-Amazon India executive, will also look at consumer experience. In December, Myntra pushed its timeframe to turn profitable by a quarter from December 2017 to March 2018. The firm said it plans to double sales to $2 billion by then. Amazon, which has been aggressively catching Flipkart continues to lag significantly to the Indian company in the fashion space thanks to Myntra and now Jabong.
Source : 09-02-17   Business-standard.com   Compiled by www.naukri.com
Two more senior executives leave Flipkart
India’s largest e-commerce marketplace Flipkart has suffered another bout of senior-level exits at its engineering team. As per latest developments, Mr. Ashish Gupta, vice president, engineering, and Mr. Ashish Vikram, vice president, engineering (ad and big data) are leaving the firm. Mr. Gupta, who joined Flipkart in 2012, was heading its Demand Shaping Platform group. He has worked with Firetide Networks and Mobera Systems in the past. Mr. Vikram, who joined the company in 2014, had earlier worked with Yahoo and Kalido. He has moved on to pursue an entrepreneurial venture, a video-based social learning platform called VideoKen. The fresh exits come a little over a fortnight after two senior vice presidents of engineering— Mr. Hari Vasudev and Mr. Ashish Agrawal—resigned from the e-commerce firm. In the first week of January, there were a number of senior-level exits from Flipkart, both at its flagship marketplace and its subsidiary online fashion retailer Myntra. The list included Myntra’s supply chain head and senior vice president Mr. Rajul Jain, who was one of the co-founders of lifestyle e-tailer Yebhi.com; Mr. Sharad Agarwal, vice president and distinguished engineer at Flipkart who was heading data strategy; and Mr. Raghuram Talluri, vice president and head of customer experience at Myntra. All of them left the company in December. India’s consumer Internet businesses, which quickly became multi-billion-dollar companies, are facing growth pangs and witnessing many top-level exits. Other home-grown e-commerce unicorns, such as Snapdeal and Ola, are also struggling to retain senior talent.
Source : 10-02-17   Techcircle.vccircle.com   Compiled by www.naukri.com
Campus placements cool at B-schools, engineering colleges, worse yet to come
Campus hiring have cooled at India’s top business and engineering schools, including at some IITs and IIMs, and some are yet to conclude the final campus placements which were to be completed by mid-January, said officials at several placement cells. Demonetisation, which sapped demand and hit consumer-facing firms, and rising protectionism in the US and UK, which threaten Indian IT companies, are likely reasons for the development, these officials said. It also threatens to get worse. Human resources (HR) outsourcing and technology firm PeopleStrong says campus hiring numbers may fall 20-25% from current levels by the end of 2020. “Campus hiring will see a gradual decrease in the next one year,” said Mr. Pankaj Bansal, co-founder and CEO, PeopleStrong. “There are various reasons for this gradual decrease. Some of them include: reduction in hiring numbers of IT giants due to global economy slowdown, automation of transaction-heavy jobs through Artificial Intelligence and lack of job-readiness in the campus pass-outs.” “Though the number of companies visiting campuses has gone up, the net total number of offers has remained constant,” said Mr. Kaustubha Mohanty, convener, All IITs Placement Committee, the panel responsible for campus hiring across all Indian Institutes of Technology (IITs). “Total offers being rolled out by a company has seen a drop. The exact numbers will be available only after the end of ongoing placements,” he said. Mr. Abhishek Totawar, chairperson, placement and external relations, at Indian Institute of Management Tiruchirappalli, said, “Placements did slow down this year, compared to previous years. The number of offers being made by consistent top recruiters has gone down. We will know if the average package has been impacted once placements are over.”
Source : 14-02-17   Livemint.com   Compiled by www.naukri.com
Paytm to hire 100 people for travel vertical
Mobile payments and commerce platform Paytm plans to hire 100 people in Bangalore to support “tremendous” growth that it is seeing in its travel vertical. Paytm said that over 10 million travel tickets were booked on its platform since the launch a few months back. The Noida-based firm added that its travel vertical crossed USD 500 million in annualized gross merchandise value (GMV) in January 2017.Paytm, which offers bookings for air, bus and train tickets, besides hotels, is eyeing a 4x growth in the category by the end of this year. “This year we plan to further accelerate our growth and firmly establish ourselves as a dominant player in the online travel market. To catalyse our growth, we are currently ramping up our team in Bangalore and looking to hire over 100 members across Technology, Operations and Business functions,” Mr. Abhishek Rajan, Vice President – Paytm said.
Source : 12-02-17   Thehindu.com   Compiled by www.naukri.com
Two IIM Lucknow professors named directors of IIM Raipur, Ranchi
Two professors from IIM Lucknow, Mr. Bharat Bhasker and Mr. Shailendra Singh have been appointed as Directors of IIM Raipur and IIM Ranchi respectively, a statement from the premier institute said. The Appointments Cabinet Committee, chaired by Prime Minister Mr. Narendra Modi, approved names of directors for 10 IIMs – at Bengaluru, Bodh Gaya, Sirmaur, Visakhapatnam, Tiruchirappalli, Nagpur, Sambalpur, Raipur, Rohtak and Ranchi, it said. Mr. Bhasker is from the IT and Systems department at IIM Lucknow and his areas of expertise include Data Management, Network Security and Software Engineering. He was also the acting Director at IIM Lucknow in 2015. Mr. Shailendra Singh is a Ph.D from IIT Kanpur and is currently posted at the Human Resource Management department at IIM Lucknow. He is also involved in consulting work in the field of Education Management. IIM Lucknow Director Prof. Ajit Prasad said: “IIM Lucknow is immensely proud of the fact that two of its faculty have been given the huge opportunities to lead institutes of national importance. As one of its core functions and as a prideful tradition, IIM Lucknow has been at the forefront of, contributing significantly to, mentoring up and coming IIMs.”
Source : 14-02-17   Business-standard.com   Compiled by www.naukri.com
Aircel confirms that a “small fraction” of its workforce is being laid off
Aircel is laying off a part of its 8,000 employee workforce as the company inches closer to merging its wireless business with Mr. Anil Ambani-owned telco Reliance Communications. As per reports around 700 employees were handed out pink slips. A spokesperson from Aircel confirmed the layoffs but denied that there were 700 employees being sent away. “They (layoffs) were a small fraction. There is a certain kind of business realignment happening,” the spokesperson added. The employees were given a week’s notice along with a severance package which includes basic pay for the next six months. The downsizing of workforce is being carried out to remove duplicate human resources once the company merges its operations with RCOM. Aircel is not the only company that is hit by rising competition in the telecom industry. Post launch of Reliance Jio, smaller operators are either looking for an exit or phasing out operations. In this month Telenor was reportedly in discussions with RCOM for merging its business unit and spectrum holding with the Aircel-RCOM merged entity. It was also in talks with Airtel for a possible $350 million merger deal. Idea Cellular, on the other hand, was in talks with Vodafone Group for a potential merger deal.
Source : 16-02-17   Medianama.com   Compiled by www.naukri.com
WhatsApp appoints Facebook executive Mr. Matt Idema as COO to boost monetisation
WhatsApp has been providing its service free to all its users worldwide ever since launch. The IM app does not make money through ads like Instagram and Facebook either, so naturally, it is looking for alternate and innovative ways to monetise its extremely popular service soon. To do that, WhatsApp has reportedly appointed Facebook executive Mr. Matt Idema as their new COO. According to a report, Mr. Idema was announced as the newly appointed COO and “monetisation will be his key focus.” However, his full role is reportedly still being ironed out. Mr. Idema was Vice President of Product Marketing at Facebook, and was responsible for “product strategy and global go-to-market for all of Facebook’s Advertising and Business Products.” The report added that Mr. Idema will begin his new role at WhatsApp in the coming weeks and will report directly to WhatsApp CEO Mr. Jan Koum.
Source : 15-02-17   Ndtv.com   Compiled by www.naukri.com
Ex-Citigroup banker taps global talent to revive India Bank
Bank of Baroda, India’s third-largest state-run bank, is looking to a slew of senior managers poached from foreign lenders including Barclays Plc and Standard Chartered Plc to help drive profitability at the 108-year-old company. In the past three months, the Mumbai-based lender has hired Mr. Manoj Piplani, a managing director of Barclays’s U.K. card business, to lead its card and payments operations and Mr. Ratnesh Kumar, managing director at Standard Chartered, to head its investment-banking arm. The bank also added a former Citigroup Inc. employee to transform its Nainital Bank Ltd. unit and recruited advisers for its chief executive officer from firms including JPMorgan Chase & Co. The hiring will have a “multiplier effect” as the recruits train others and put new structures in place, CEO Mr. P S Jayakumar said in an interview. “Cash management, supply-chain management and the retail side are other areas in which we made hires from competitors and we’re currently looking for people in analytics.” Mr. Jayakumar, 54, and Chairman Mr. Ravi Venkatesan, former chairman of Microsoft Corp.’s Indian unit, were brought to Bank of Baroda in 2015 by Prime Minister Mr. Narendra Modi’s government as it attempted to overhaul the banking system. More than a year later, the executives still face the lingering challenges of swelling bad loans, declining profitability and underperforming shares.
Source : 17-02-17   Bloomberg.com   Compiled by www.naukri.com
Scared of losing jobs, Indian techies stay put in Silicon Valley
Silicon Valley has asked its foreign employees to stay put in the United States to keep their jobs in the Trump era. Indian techies living and working in California—a longtime tech hub—who are eligible for transmutation to H1B visas from L1 are cancelling their summer trips home accordingly. They fear that the travel ban will deprive them of both visas and jobs in spite of the federal court order overturning it. Two major airlines—both flying on the India-San Francisco route—have reported over 200 passengers cancelling their tickets to India in the last week alone. Indian techies are avoiding flying out to other countries either. Their companies have also advised them to stay put in the US, quoting the strict Trumpist provisions in the visa interview process. “Embassies/Consulates’ visa processing time is likely to increase for all applicants,” an advisory sent to employees of four companies said. Major companies situated in the Silicon Valley are Apple Inc, Cisco Systems, Google, Facebook, Hewlett-Packard etc. Their companies have mailed them that they should leave the US only in case of an emergency since entry into America has been tightened by the new government. Companies in Silicon Valley are advising their employees not to travel out of the US unnecessarily. Over 200 such employees have cancelled their outbound flight tickets in California. An advisory read “The vast majority of non-immigrants employed in the US (e.g., nationals of India, China, other Asian and European countries) should not be impacted. However, we recommend avoiding unnecessary international travel until this situation settles further. Additionally, due to the fact visa interviews will no longer be waived across the US.”
Source : 12-02-17   Newindiaexpress.com   Compiled by www.naukri.com
One year after 7th Pay Commission implementation, government set to clear revised allowances for central staff
A year after implementation of the new pay- and pension-related recommendations of the Seventh Central Pay Commission (CPC), the government is likely to approve the revised allowances proposed by it for central government staff after the ongoing state elections are over, by March 15. The reworked allowances are likely to be effective from April 1 and at least in the case of the employees in metro cities, the house rent allowances (HRA) could be a little more generous than the CPC’s award, sources told FE. Taking note of employees’ representations, a finance secretary-led panel is looking at HRA of 30% of basic pay for those in cities with a population of over 5 million, against 24% recommended by CPC, the sources said. In the Sixth CPC award period (2006-2015), HRA was 30% for these cities. A draft Cabinet note for implementation of the revised allowances would be circulated soon, the sources said. HRA accounts for about 60% of the total allowances bill. The financial implication of revised allowances would be broadly in line with the CPC’s estimate of around R29, 300 crore (including for the railways) in the first year. The secretaries’ panel is reviewing the commission’s recommendations pertaining to allowances including rationalisation of some 196 existing benefits. The pay panel has suggested the abolition of 52 benefits and merger of 36 with existing ones to end their separate identities. With just R4, 500 crore additional allocation in the Budget (factoring in business-as-usual growth) for allowances and assuming R7, 600 crore expenditure would be borne by the railways, the additional allocation required from the general Budget could be around R17, 000 crore, sources said.
Source : 17-02-17   Financialexpress.com   Compiled by www.naukri.com
Twitter exodus: Two more top executives quit
The exodus of top executives at Twitter continues as the company’s Vice President of Diversity and Inclusion Mr. Jeffrey Siminoff is quitting at the end of this month after its Chief Human Resources Officer Ms. Renee Atwood has quit, media reports said. Ms. Atwood, who had joined Twitter in August 2016 from Uber, has left the company for personal reasons. According to the sources quoted in the report, company’s CEO Mr. Jack Dorsey sent a note around the company letting employees know about Siminoff’s upcoming exit, revealing that Mr. Siminoff was leaving on his own accord. Mr. Siminoff joined Twitter in December in 2015. Twitter is going through a major overhaul under CEO Mr. Jack Dorsey as many top-notch executives have quit the company in the recent past. Mr. Dorsey brought in two board members in a bid to revive the company and earn the trust of investors. Several high-profile Twitter executives and managers have jumped the ship in recent months. Twitter editorial director Ms. Karen Wickre and Mr. Shariq Rizvi, who confounded the direct response ads team at Twitter, announced their departures in late 2016. Chief Technology Officer (CTO) Mr. Adam Messinger and its Vice President for products Mr. Josh McFarland also quit.
Source : 09-02-17   Hindustantimes.com   Compiled by www.naukri.com
Employees ready to pay for insurance facilitated by employer: Survey
Employees are willing to pay for additional insurance if it is provided by their employers. This is because employer facilitated insurance offers better coverage, efficiency in cost and better claim recovery. This was the key theme of Marsh India’s 9th annual Employee Health and Benefits Survey. According to the survey, 92 per cent of the employees were willing to share premium costs and buy voluntary plans offered to them by their employers. The survey was conducted among 500 corporates and over 2,000 employees. It included employees for the first time this year. Of the total employees who were surveyed, 33 per cent were willing to spend 1-2 per cent and another 37 per cent were willing to spend 3-5 per cent of their annual salaries on voluntary insurance plans. Top-plans in health insurance and term life is one big focus area for employees. Another area which saw high demand was coverage for outpatient department and parents. Almost 83 per cent of employees also said they are looking to customise their insurance offered by employer such as increasing room rent and maternity limits. There is also increasing demand for voluntary programmes to cover assets like car or house and travel insurance, provided it is facilitated by the employer.
Source : 14-02-17   Business-standard.com   Compiled by www.naukri.com

Quote of the day.


“I am so glad God sees the whole video tape of my life, and not just a snapshot of where I am now.”
Unknown
on Cliches and one-liners

“Be great in act, as you have been in thought.”

via Quote of the Day http://ift.tt/2kExySG

“I owe it all to little chocolate donuts.”

via Funny Quote of the Day http://ift.tt/2loCgYY

Funny quote of the day

“If at first you don’t succeed, failure may be your style.”

via Funny Quote of the Day http://ift.tt/2hrFtl7

Art quote of the day.

“Believe it or not, I can actually draw.”

via Art Quote of the Day http://ift.tt/2lahWbB

Requested Ministry-wise PIB releases

Requested Ministry-wise PIB releases

Requested Ministry-wise PIB releases

Requested Ministry-wise PIB releases

Requested Ministry-wise PIB releases

Ethical Alliance Daily News 

Ethical Alliance Daily News 
 

South Korea: Samsung Group to disband its corporate strategy office after probe ends
Feb 07, 2017 08:00 pm

Samsung Group said it will disband its corporate strategy office after a special prosecution probe ends, setting a timeline on a pledge to wind up a power center that has been criticized for its role in South Korea’s graft scandal….
Read More   
A private jet belonging to Malaysian tycoon Low Taek Jho — who is under investigation for his involvement in the scandal-hit Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB) – has been seized by Singapore authorities, media in both Singapore…
Read More   
Two men were sentenced to lengthy US prison terms on Monday for conspiring to launder US$250 million earned by manipulating shares of over 40 companies, including little-known Cynk Technology Corp, whose value soared past US$6 billion. Gregg Mulholland, a dual…
Read More   
Papua New Guinea’s Prime Minister has suspended two senior ministers and established a commission of inquiry into a $31 million corruption scandal over the relocation of Port Moresby’s naval base. The Minister for State Enterprise William Duma and the Defence…
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China will prosecute a former high ranking official in its secret police for suspected bribery, the state prosecutor said on Monday, taking a step that will almost certainly result in a conviction. Ma Jian, once a vice minister at China’s…
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The CBI on Monday said it has registered a case against a commissioner of Income Tax (Appeals) in Delhi, his wife and other unidentified persons on charges of amassing illicit assets worth Rs 4.28 crore. The premier investigation agency booked…
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Freelancer does not mean free services.

* Working for free (but working for yourself) – http://feeds.feedblitz.com/~/268170230/0/sethsblog~Working-for-free-but-working-for-yourself.html

Freelancers, writers, designers, photographers–there’s always an opportunity to work for free.

There are countless websites and causes and clients that will happily take your work in exchange for exposure.

And in some settings, this makes perfect sense. You might be making a contribution to a cause you care about, or, more likely, honing your craft at the same time that you get credibility and attention for your work.

But just because you’re working for free doesn’t mean you should give away all your upsides.

Consider the major publishing platforms that are happy to host your work, but you need sign away your copyright. Or get no credit. Or give the publisher the right to change your work in any way they see fit, or to use your image (in perpetuity) and your reputation for commercial gain without your oversight or participation…

Now, more than ever, you have the power to say “no” to that.

Because they can’t publish you better than you can publish yourself.

It doesn’t matter if these are their standard clauses. They might be standard for them, but they don’t have to be standard for you and for your career.

Here’s the thing: you’re going to be doing this for a long time. The clients you get in the future will be the direct result of the clients you take today. The legacy of your work down the road will be related to the quality of the work you do today.

It’s your destiny and you should own it.

Freelancers of all kinds need to be in a hurry. Not a hurry to give in to one-sided deals and lousy clients. Instead, we need to be in a hurry to share our bravest work, in a hurry to lean into the opportunity, in a hurry to make work that people would miss if it were gone.• Email to a friend •

* More Recent Articles – http://app.feedblitz.com/f/f.fbz?goto=198516

Ethical Alliance Daily News 

Ethical Alliance Daily News 
 

Peru: Peru’s Kuczynski says ex-president accused of bribery betrayed country
Feb 06, 2017 08:00 pm

Peruvian President Pedro Pablo Kuczynski said on Sunday that ex-president Alejandro Toledo, accused of receiving millions in bribes from embattled construction firm Odebrecht S.A.[ODBES.UL], betrayed his country and must return to Peru to face justice. Prosecutors are preparing an arrest…
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Romania’s government has scrapped a controversial decree that would have shielded many politicians from prosecution for corruption. The decision came at an emergency meeting on the issue, following days of large street protests. One of those behind the move said…
Read More   
A Melbourne man linked to a multi-million dollar tax avoidance scheme remains in business, despite the fact federal authorities continue to circle him. Philip Whiteman, who also goes by the aliases Phil Graham and Phil Damon, had previously operated a…
Read More   
North Korea’s leader Kim Jong-un has sacked his spy chief for abuse of power and executed ­several officials of the state security agency, South Korea’s Unification Ministry said Friday. Minister of State Security Kim Won-hong was dismissed in mid-January after…
Read More   
Executives of two Chinese companies included on a new U.S. sanctions list targeting Iran said on Sunday they had only exported “normal” goods to the Middle Eastern country and didn’t consider they had done anything wrong. The sanctions on 25…
Read More   
The arrest of his own boss after a similar trap in the office, just four days ago, did not deter a civic official from taking a bribe. Days after the Anti-Corruption Bureau (ACB) arrested an assistant engineer and a mukadam…
Read More   

HR Headlines – courtesy Naukri.com

SoftBank’s Mr. Jonathan Bullock quits boards of Ola, Snapdeal and Housing
SoftBank Group’s chief operating officer Mr. Jonathan Bullock has resigned from the boards of two of the Japanese firm’s most prominent portfolio companies in India, Ola and Snapdeal. Mr. Bullock has also resigned from the board of Housing.com, which counts SoftBank as its largest investor, according to a regulatory filing. SoftBank managing director Mr. David Thevenon is likely to replace Mr. Bullock and join the boards of Ola (ANI Technologies Ltd.) and Snapdeal (Jasper Infotech Pvt Ltd.), according a person directly aware of the developments. Silicon Valley-based Mr. Thevenon, a former Google executive, currently sits on the boards of other prominent start-ups such as Singapore-based ride-hailing firm Grab. In one of the regulatory filings, Mr. Bullock said he was resigning from the boards of both start-ups due to “personal reasons and other obligations.” “Please be informed that due to other obligations, I will no longer continue as a director of ANI Technologies Pvt Ltd and wish to be relieved of my duties and responsibilities with effect from January 16, 2017. Accordingly I hereby tender my resignation which may be accepted at the earliest,” Mr. Bullock said in one of the filings. Mr. Bullock wrote a similarly worded email to the board of directors at Snapdeal and Housing.com. “This is standard procedure and is unrelated to any current operations at Snapdeal, Ola or other boards. SBGI Managing Directors, Mr. Kabir Misra and Mr. David Thevenon, will be the primary leads on Snapdeal and Ola respectively, going forward. Mr Bullock will work actively with Mr Misra and Mr Thevenon, as well as the Snapdeal and Ola leadership, to avoid continuity challenges,” said SoftBank in an email.
Source : 06-02-17   Livemint.com   Compiled by www.naukri.com
Reform labour laws, give tax breaks to create jobs: Economic Survey 2017
Accepting that job creation is India’s central challenge, the Economic Survey has identified apparel, leather and footwear as key sectors to boost employment and provide “bang for the buck” at a relatively low cost. The survey recommended reforms to labour laws and lower taxes on such sectors to boost employment. It said India should take advantage of the low-wage structure in several states to accelerate job creation in sectors like apparel and leather. “India needs to generate jobs that are formal and productive, provide bang for buck in terms of jobs created relative to investment, have the potential for broader social transformation, and can generate exports and growth. The apparel, leather and footwear sectors meet many or all of these criteria and hence are eminently suitable candidates for targeting,” the survey said. Boosting employment generation is a key electoral plank of the National Democratic Alliance government, which is midway through its five-year term. Domestic and global economic factors have impeded job creation. A cash crunch following the 8 November demonetization of high-value currency notes has led to job losses in the informal economy, impacting many small manufacturing units. The survey said that the apparel and leather sectors offer tremendous opportunities for creation of jobs, especially for women. It said every Rs1 lakh investment in the apparel sector had the potential to create 23.9 jobs, including 8.2 jobs for women.
Source : 01-02-17   Livemint.com   Compiled by www.naukri.com
Mr. Madhu Kannan joins Uber as India Business Head
Mr. Madhu Kannan, a former top official at Tata Sons, has joined Uber, the world’s largest taxi aggregator, as its Chief Business Officer for India and Emerging Markets. The 42-year-old Mr. Kannan, who was previously the Chief Executive Officer of the Bombay Stock Exchange, was believed to be a contender for the vacant Chairman’s post at the National Stock Exchange. At Uber, he will be tasked with strengthening Uber’s presence in its second largest market in terms of number of trips taken. “As a key member of Uber’s regional leadership team, Mr. Madhu Kannan will be responsible for growing Ubers business in India as well as across new emerging markets in the Asia Pacific region, through strategic partnerships and investment opportunities,” Uber said in a blogpost. He had been the Group Head of Business Development and Public Affairs at Tata Sons since 2012, but quit soon after Mr. Cyrus Mistry was ousted as the Chairman in October last year. “With his background and experience in India and Asian emerging markets, his appointment reinforces our commitment to continue to invest and grow our presence and unlock the full potential of ridesharing in the region,” Uber President Business (Asia Pacific) Mr. Eric Alexander said. Mr. Kannan, an electronics engineer-cum-MBA graduate, was earlier with Bank of America-Merrill Lynch as MD-corporate strategy and business development and NYSE Euronext as senior vice-president.
Source : 02-02-17   Moneycontrol.com   Compiled by www.naukri.com
IDFC MD Mr. Vikram Limaye is the new CEO, MD of NSE
Leading stock exchange National Stock Exchange selected IDFC chief Mr. Vikram Limaye as its new CEO and Managing Director, two months after the sudden exit of Ms. Chitra Ramkrishna from the top post. Sources said NSE’s board approved Mr. Limaye’s name for the top position but a formal announcement would be made later as some formalities need to be completed from his side. The approval of the board, chaired by Mr. Ashok Chawla, comes after a four-member search panel suggested Mr. Limaye’s name from amongst the shortlisted candidates. The appointment would also need capital market regulator Sebi’ approval. Incidentally, he was recently named in a four-member panel appointed by the Supreme Court for administering cricket body Board of Control for Cricket in India (BCCI). Currently the Managing Director & CEO of IDFC, Mr. Limaye started his professional career with Arthur Andersen in Mumbai in 1987 and has also worked with Ernst & Young and Citibank. He has worked at Wall Street for eight years with Credit Suisse First Boston before returning to Mumbai in 2004. Mr. Limaye has contributed to various committees of government and industry associations on a range of topics surrounding infrastructure, economic policy, markets and trade. A Commerce graduate, Mr. Limaye has an MBA in Finance and Multinational Management from the Wharton School of the University of Pennsylvania. The appointment comes at a time when the exchange is preparing to launch its IPO estimated to be worth over Rs 10,000 crore.
Source : 03-02-17   Business-standard.com   Compiled by www.naukri.com
Employees to pay tax on gifts worth more than Rs.50, 000
Company employees receiving large largesse, whether from the company itself or from somebody else, will now have to pay tax if the gift is valued at more than ₹50,000, according to changes made in this Budget, Revenue Secretary Mr. Hasmukh Adhia said . The Finance Bill 2017 has introduced an amendment to Section 56 of the Income Tax Act, which delineates the tax treatment meted out to ‘income from other sources. ’“Right now, there is a provision that if you give a gift to any individual above ₹50,000 then it will be taxed,” Mr. Adhia said. “But that does not apply to companies. Now we have made it applicable to companies as well. People used to take gifts in companies and not pay tax on it.” “The earlier provisions were that if you get more than ₹50,000 from anybody but your close relatives, then the amount was subject to taxation,” Mr. Surendra Prakash Singh, Senior Director at Deloitte India said. “It would not be easy to avoid. It would be very liable to be detected during the scrutiny process, if your case comes up. This is clarificatory in nature and in line with the concept of taxing large gifts, when it was first introduced.”
Source : 05-02-17   Thehindu.com   Compiled by www.naukri.com
Mr. Arun Kumar succeeds Mr. Richard Rekhy as KPMG India Chairman
KPMG India board has elected Mr. Arun M Kumar as chairman and CEO to lead the India operations of the consulting and accounting major. He succeeds Mr. Richard Rekhy, who stepped down in November last year following a large-scale exodus of key people from the advisory team. Earlier in January 2016, Mr. Rekhy had been re-elected for a four-year term. Mr. Kumar joins the firm at a time when the Big Four accounting and audit firms are jostling for market share following mandatory rotation of auditors as prescribed under the Companies Act 2013. Last year, Deloitte, the market leader in the audit space, had weaned away key people from KPMG’s advisory team. Deloitte is in the process of strengthening its advisory practice in India. Mr. Kumar brings a wealth of international leadership experience to KPMG India, including his tenure in public service in the United States for the last three years as Assistant Secretary of Commerce for Global Markets and Director General of US and Foreign Commercial Service in the Obama administration. Commenting on the appointment, Mr. John Veihmeyer, chairman, KPMG International, said, “Our global clients recognise the increasing significance of India as the fastest growing major economy in the world. I am delighted to welcome Arun back to KPMG.”
Source : 06-02-17   Business-standard.com   Compiled by www.naukri.com
Mr. Balesh Sharma to replace Mr. Naveen Sharma as COO of Vodafone India
Mr. Balesh Sharma has been appointed as the new Chief Operating Officer of Vodafone India, and will take over the post from Mr. Naveen Chopra, who held the COO position since February 2015. A spokesperson from Vodafone confirmed the development. Mr. Chopra’s next role with Vodafone is yet to be announced by the company. He joined Vodafone in November 2004 as Vice President of Corporate Marketing. Between 2007 and 2008, he headed Vodafone Mumbai’s operations a CEO for a year. He also held additional managerial roles including Mumbai, Rajasthan circles until 2011. Prior to Vodafone, Mr. Chopra was with Britannia Industries for 16 years, where he headed marketing for the company. On the other hand, the substituting COO, Mr. Sharma currently heads Vodafone’s Czech operations as CEO. He originally joined the company as CEO for Gujarat circle in 2006. Prior to Vodafone, Mr. Sharma worked with companies like BPL Mobile and Xerox.
Source : 06-02-17   Medianama.com   Compiled by www.naukri.com
Dearness Allowance of bank employees to be paid from February as per recommendations
The bank employees working under the payroll of central government may have one good reason to rejoice because the order has been issued to ensure that they get Dearness Allowance (DA) as per the recommendations of the 7th Pay Commission (7CPC). The order issued on February 1, says that the DA to be paid for the month of February, March and April this year. The Indian Banks’ Association (IBA) which released the executive order on February 1, to all banks under it, said: “Dearness Allowance for workmen and officer employees in banks for the months of February, March and April 2017 under X BPS /Joint Note dated May 25, 2015.” The order further added, “The average CPI of the above is 6315, and accordingly the number of DA slabs is 469.” The order release by Indian Bank Association then goes on to explain that the DA bank employees and officials should get at least 46.9 per cent of their pay and concludes: “We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations. ”The order has already been sent to the Indian Banks Association to all banks under it, the onus is now on the banks to ensure that their employees will get the DA component in their salaries of February, March and April as per the new scale. Some reports suggest that there should not be much of a hurdle on that front unless some unforeseen circumstance halts the process.
Source : 05-02-17   India.com   Compiled by www.naukri.com
Barclays to overhaul back office operations to cope with ring-fencing
Barclays Plc is about to overhaul its back office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business. It has formed a new company that will operate as a standalone unit providing support services to both of its two main operations when they are formally separated — retail and investment banking, the bank said. The ring-fencing rules seek to avoid a repeat of the 2008 crisis, when banks’ bad bets threatened depositors’ cash. While Barclays was not among those that needed a UK taxpayer-funded bailout, the new rules apply to all lenders in Britain that have retail and commercial or investment banking activities. At Barclays, the aim is that critical support functions could continue to operate smoothly if either of its two main businesses were to run into trouble, while also keeping costs down by not having several separate back-office units, sources involved in the project said. The overhaul — including the creation of the new company known internally as ServCo — will affect most of the more than 10,000 people who work in Barclays back offices operations in 17 countries around the world. It will group together the bank’s huge operations in India and South Africa that provide technology support and data management, along with functions such as compliance with regulatory requirements, corporate relations, legal affairs and human resources. While for some staff this will simply involve a change in the name of the legal entity they work for, the sources said it was also likely to lead to some job losses.
Source : 06-02-17   Business-standard.com   Compiled by www.naukri.com
To retain fleeing agents, LIC hikes gratuity to Rs 3 lakh
In its bid to arrest the high attrition levels and encourage them to do more business, the national insurer Life Insurance Corporation has hiked gratuity for its over a million agents to Rs 3 lakh. The Corporation makes as much as 94 per cent of its premium income through its over 1.1 million agents, while the private sector rivals net around half their business through the agency route. During the past financial year, the Corporation recruited 2.45 lakh agents but as many as 3.40 lakh agents got terminated or voluntarily let during the year. As of March 2016, the Corporation had 10.60 lakh agents, while this rose to 11.05 lakh as of end January. But this year so far, the Corporation has added 45,000 agents on net basis. “So far this financial year, we recruited 2.7 lakh agents while 2.25 lakh were terminated/voluntarily left the Corporation, which is a net addition of 45,000. This takes our total agency strength to 11.05 lakh as of end January,” an LIC official said. “Gratuity payable to an agent shall be at the eligible rate for each qualifying year for the first 15 qualifying years and at half the eligible rate for the subsequent 10 qualifying years, provided the maximum amount of gratuity payable shall not exceed Rs 3 lakh,” said a Gazette of India notification. Under the existing rules, an LIC agent gets Rs 1 lakh as gratuity on leaving the service after 15 years. On an average an agent gets 35 per cent commission on the premium sold and 2 per cent on single premium policies.
Source : 06-02-17   Indianexpress.com   Compiled by www.naukri.com
Tech Mahindra not giving appraisals to its senior employees
As many IT firms are grappling with changes and changing the ways of doing business, Tech Mahindra is also not new in this. In the latest move, Tech Mahindra has suspended appraisal cycle for its senior employees. The announcement was made on a webinar chaired by its Chief Operating Officer Mr. L Ravichandran. It also said the affected employees will have to wait at least two quarters for a salary hike. “We thought the wage increases would be very bad but we did not expect this. At least there are no large scale layoffs so far. That was also a worry,” said a TechM employee. Others said that people were agitated about the move and that internal messaging groups were flooded with discussions about the announcement. The move has been confirmed by TechM but the company also cleared that the appraisals had not been postponed indefinitely and that the affected employees would be informed about their hikes after a management review. “This decision is not related to our performance in the third quarter. This was an item of discussion and once there is a management review, the employees will be informed,” a TechM spokesperson said. According to an analyst, TechM is increasing its fresher intake to manage its pyramid and boost its margin. “Indian IT has a problem because their pyramid is more bulky than it was in the middle. You don’t want the freshers to leave because you have invested in their training but if you can create a situation in which more senior employees start looking to leave then it works in your favour,” an industry executive said.
Source : 06-02-17   Businessinsider.in   Compiled by www.naukri.com
Starbucks responds to Mr. Donald Trump’s travel ban; says to hire 10,000 refugees in next 5 years
US coffeehouse chain, Starbucks has pledged to hire 10,000 refugees over the next five years in the 75 countries where it does business in response to President Mr. Donald Trump’s order banning travel from seven Muslim majority countries, the media reported. “We are living in an unprecedented time,” chairman and CEO Mr. Howard Schultz wrote in a memo, which listed several actions the company said it was taking to “reinforce our belief in our partners around the world.” The refugee hiring proposal, Mr. Schultz wrote, will begin with a focus on people who have served with US troops as interpreters and support personnel. Mr. Schultz also reiterated Starbucks’ support for the Deferred Action for Childhood Arrivals programme (DACA), which helps undocumented immigrants who were brought to the US as children get driver’s licenses, enrol in college and secure jobs. The programme was created by former President Mr. Barack Obama through an executive order in 2012. Mr. Schultz also said the company was “ready to help and support our Mexican customers, partners and their families” should any proposed trade sanctions, immigration restrictions and taxes affect their businesses. “We are in business to inspire and nurture the human spirit, one person, one cup and one neighbourhood at a time,” Mr. Schultz wrote. “That will not change. You have my word on that.”
Source : 30-01-17   Businessinsider.in   Compiled by www.naukri.com
Start-up workers prefer bonus to ESOP as valuation declines: Experts
With a number of start-ups collapsing mid-way, many employees are now preferring bonuses instead of Employee Stock Option Plans (ESOPs) as part of their compensation package, industry experts said. “We have seen a change where the ESOP component in compensation packages has dropped in start-up companies. This is because they never reach the valuations they initially project and in the past year, a lot of start-ups also had to close businesses. “Since around the end of 2016, we have been witnessing a change from ESOPs to variable bonuses in terms of compensation in these companies,” Mr. Mohit Bharti, Director of professional recruitment consultancy Michael Page India said. This trend is seen across the start-up industry, including e-commerce, food, technology, logistics and financial services, Mr. Bharti added. Echoing a similar view, GlobalHunt Managing Director Mr. Sunil Goel said, with many start-ups collapsing gradually, employees started relying on cash component. “Bonuses are generally short-term component, paid either yearly or quarterly, and is becoming an attractive option even if it is one-third or one-fourth of the value as compared to the ESOPs,” he pointed out. But, Mr. Goel said, start-ups are now at a consolidation phase with lot of buyouts, mergers and acquisitions, so ESOPs might be more beneficial in the long run. TeamLease Services Senior Vice-President Mr. Kunal Sen opined that this has been the trend in the last 1-2 years with declining valuations of e-commerce and tech start-up performance. He said ESOPs will form a lower component in the compensation of top talent going forward, as earlier top talent would agree to a 30-50 per cent salary cut and opt for ESOPs, but not these days.
Source : 05-02-17   Thehindubusinessline.com   Compiled by www.naukri.com
Indian workers in US are frantically looking for jobs back home
With American President Mr. Donald Trump seemingly adamant on sticking to his inauguration pledge of “Buy American, Hire American”, Indians working in the US are starting to eye jobs back home. Some recruitment firms have reported doubling of queries from US-based Indian professionals in recent weeks, according to reports. With Mr. Trump turning into his rhetoric into action in recent weeks, recruitment firms led by BTI Consultants, RGF Executive Search, Transearch, The Head Hunters and Antal International have been receiving frantic calls from Indians in the US. Indian companies, particularly IT companies who have a sizeable US employee base, are also a nervous lot after a Bill introduced in the US House of Representatives proposed to more than double the minimum wages to USD 130,000 for foreigners working in US under the H1B visa. The report quoted Mr. Kris Lakshmikanth, chief executive of The Head Hunters (India), as saying that he had received around 30 calls until now from technology professionals exploring opportunities back in India. Until a couple of months ago, he said he had not received any such query. He said that most of the queries are from those who have completed three years in the US, after which an H1B visa extension is required, and those who are approaching the six-year period and are unsure about whether they will get a visa extension.
Source : 01-02-17   Moneycontrol.com   Compiled by www.naukri.com
Infosys appoints Mr. D.N. Prahlad to executive pay committee
The board of Infosys Ltd has inducted director Mr. D.N. Prahlad into the nomination and remuneration committee (NRC) that oversees the nomination process and the incentives and pay offered to its senior-most executives, including the chief executive. Mr. Prahlad, a relative of Infosys founder Mr. N.R. Narayana Murthy, will now be one of the five members of the current NRC, according to two executives familiar with the development; the decision may make it more difficult for the management to award higher salaries to its senior executives. Infosys’s nomination and remuneration panel is headed by independent director and Professor Jeffrey Lehman, and includes three independent directors: Biocon chairman and managing director Ms. Kiran Mazumdar-Shaw, Stanford University provost Mr. John Etchemendy and non-executive chairman Mr. R. Seshasayee.
Source : 01-02-17   Livemint.com   Compiled by www.naukri.com

Courtesy: Inc 42 Media

Why Raising Money From VCs In Seed Stage Might Not Be A Good Idea; Insane Facts You Didn’t Know About Tesla Motors & Elon Musk; Funding Galore & Mor

Inc42 Media

BUZZ
Owing To Aggressive Spending In India, Amazon’s International Losses Increase To $487 Mn

Amazon has reportedly concurred losses worth $487 Mn in its international business for the quarter that ended in December, while trying to sustain its position in the Indian ecommerce space.

COMMUNITY
Why Raising Money From VCs In Seed Stage Might Not Be A Good Idea

The fact is that the valuations and the amount of capital start-ups raise in their first round from Venture Capital firm is inversely correlated with start-up success.

BUZZ
Funding Galore: Startup Fundings Of The Week [30 January – 4 February]

MakeMyTrip completed the merger of its Indian travel business with Naspers-owned Ibibo group, which was announced last October.

BUZZ
Snapdeal Suspends Incentive Programme For Customers Amidst Cash Crunch

The company informed its affiliate partners that it will not be able to pay for orders and additional installations of its mobile application routed through them, effective immediately.

BUZZ
News Roundup Of The Week: 9 Stories You Don’t Want To Miss This Week [30 January – 4 February]

American investment management company, Vanguard Group has slashed the valuation of its stake in Ola, the homegrown ride sharing platform.

COMMUNITY
10 Insane Facts You Didn’t Know About Tesla Motors And Elon Musk

Self made billionaire and arguably the living embodiment of Tony Stark, what’s not to admire about the man?

COMMUNITY
What Most People Don’t Understand About How Startup Companies Are Valued

Valuing any company can be difficult because it requires a degree of forecasting future growth & competition and ultimately the profits of the organisation.

COMMUNITY
Pricing A Bridge Round

Beauty lies in the eyes of the beholder, and the price depends on gut feel; and your judgment about the capabilities of the founders. It’s hard for existing investors well.
Read More Stories On Inc42

Cato Institute’s Weekly Despatch

Analyzing Trump’s Immigrant & Refugee Ban

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Last week, President Trump signed an executive order that would ban all Syrian refugees and almost all refugees from all countries from entering the United States for six months, while cutting the overall annual limit for refugees in half and banning for at least 90 days all immigration from seven majority Muslim countries. It implies that this ban could continue indefinitely for certain countries. These policies will not improve national security and will undermine America’s efforts to combat Islamic extremism and terrorism around the world.

Stingray: A New Frontier in Police Surveillance

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Police agencies around the United States are using a powerful surveillance tool known as a stingray to mimic cell phone signals to tap into the cellular phones of unsuspecting citizens, track the physical locations of those phones, and perhaps even intercept the content of their communications.

In a new study, Cato scholar Adam Bates says that these cell phone trackers are only the vanguard: “Police technology will continue to become more expansive and powerful, and the longer it takes legislatures and courts to produce a legal framework capable of keeping up with technology and ensuring that constitutional rights are protected, the more threatening the surveillance state will become.”

Withdrawing from TPP Was a Senseless Act

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Demonstrating his preference for action over reason, President Trump has signed an executive order to officially withdraw the United States from the Trans-Pacific Partnership agreement.

On the one hand, it’s refreshing to witness the rare act of a politician fulfilling a campaign pledge. On the other hand, there is nothing else good about it.

“The geostrategic rationale for TPP—which has yet to dawn on the president—is much less about achieving overt economic and security objectives than it is about preserving and strengthening U.S. soft power,” writes Cato trade scholar Daniel J. Ikenson.

Transparency International Newsletter

Today’s top story

Romania’s prime minister has refused to repeal decrees that critics say will free corrupt officials from jail early and shield others from conviction, despite international condemnation and the biggest popular protests since the fall of communism.

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Blogs and opinion

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Ethical Alliance Newsletter.

Ethical Alliance Daily News 
 

United States: Democratic lawmakers want probe of Trump adviser’s Russia payment
Feb 02, 2017 08:00 pm

A group of top U.S. House of Representatives Democrats sent a letter on Tuesday asking the Department of Defense to review a paid appearance at a Russian event by retired Army Lieutenant General Michael Flynn, President Donald Trump’s National Security…
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President Vladimir Putin will step up efforts to weaken support for economic sanctions against Russia in his first visit to the European Union since Donald Trump became U.S. president with a pledge to improve relations with the Kremlin leader. Putin…
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Claims that Lord Coe misled an MPs’ inquiry have grown after new emails confirmed he was “made aware” of corruption allegations in his sport four months before they became public. The president of the IAAF, athletics’ governing body, told a…
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The Special Investigation Team (SIT) on black money on Wednesday hailed Finance Minister Arun Jaitley’s budget announcement to limit cash transactions to Rs. 3 lakh, but said that its other recommendation of capping cash holding of an individual at Rs….
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New embezzlement allegations emerged on Wednesday against the French center-right presidential candidate François Fillon, adding uncertainty to an already tightly contested election. Mr. Fillon’s campaign was thrown into turmoil last week after Le Canard Enchaîné, a weekly newspaper that mixes…
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The South African state prosecutor who led the case against convicted murderer Oscar Pistorius has quit. AfriForum, a non-governmental group, said Tuesday that Gerrie Nel resigned and will head the group’s new private prosecuting unit, which will target state officials…
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Requested Ministry-wise PIB releases

Requested Ministry-wise PIB releases

Trump is Top of Mind worldwide in Minds and in Media

President Trump signed an executive order on Friday, January 27 that would ban all Syrian refugees and almost all refugees from all countries from entering the United States for six months, while cutting the overall annual limit for refugees in half and banning for at least 90 days all immigration from seven majority Muslim countries. It implies that this ban could continue indefinitely for certain countries. In the following pieces, Cato Institute scholars argue that these policies will not improve national security and will undermine America’s efforts to combat Islamic extremism and terrorism around the world.

We hope you’ll take an opportunity to visit the Cato website to view all of our content on this topic, and thank you for your continued interest in our work.