The U.S. auto giants General Motors, Ford and Chrysler are more a fine example of how things work in the age of unbridled corporate power. Of how the collapse of restraint on that power must fracture economy and society. They also set the very standards that the Indian elite lusts to emulate.
P Sainath on the mistakes the US committed and the mistakes we must not repeat.
For the full text, click on:
http://www.hindu.com/2008/11/20/stories/2008112055251000.htm
Muralidhar Rao
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Wonderful Essay !
Mr.Murali,
Thanks for posting this link - a great article. This is exactly what we would like to fight against & avoid, if possible !
Bangalore's horror
Auto Execs Fly Corporate Jets to D.C., Tin Cups in Hand
Murali sir,
You will be stunned reading this news. Look at the arrogance and pervertness of these corporate hanchos. All 3 CEOs flew from Detroit to Washington DC in their own private Jets. But they had the audacity to ask for 25 billion bailout. None of them had any concrete plans how thye will resurrect their failing companies. They didn't even had the courtsey to say they are willing to scarifice their 15, 20 million dollar compensation, rather arrogantly they said they are happy at what they are getting. They told the news media that they use the private jet for security reasons? What a Joke. They are marching ahead in show of wealth and arrogancy to beat the Saudi and Dubai shaiks. Shaiks must be bitting their nails in sheer surprise with their detroit empire brethern.
Read this article for detaile dinformation
Auto Execs Fly Corporate Jets to D.C., Tin Cups in Hand
http://www.washingtonpost.com/wp-dyn/content/article/2008/11/19/AR2008111903669.html?nav=hcmodule
At least now we should be wise not to emulate the "free Market Economy" mantra blindfolded. We should stop emulating this heartless and merciless culture that corporate world unleashes on ordinary souls.
The price to pay for corporate follies is humungous compare to a failed PSU?
Syed
Dubai example
Pride comes before...
Detroit executives have a case when they say they flew private jets for security purposes. They would get lynched if they went out in public - and just for the crap they produce as cars.
We are committing the same set of mistakes. Instead of taxing cars our neo-liberal FM (a worshipper of Milton Friedman) wants to increase car production. Our cities are only too happy to grab more land for road widening and providing money for flyovers and elevated roads.
It is just disgusting to read that Mukesh Ambani plans a $2 BILLION house. Yes it is his money. Yes he is free to do what he wants to with it. But...
What is even more painful to read is how, now that times are bad, industrialists want all sorts of governmental help as a matter of Divine Right.
This top down trickle effect IMHO is a load of cow dung. It has to be bottom-up with the government making sure that our agricultural sector is well off. That can cure a lot of ills.
Srivathsa
Drive safe. It is not just the car maker which can recall its product.
People drive business