Tuesday, November 18, 2008

News That Make Headlines And Those That Don't

Citibanks' axing of 52,000 odd jobs have made headlines. And so has the Dunlop's closing of its unit for an indefinite period. But there are so many more stories that do not make headlines. Here are a few ...

1) A paint manufacturer in Bangalore is in trouble because there are no new orders. He says that most of the constructions are stopped. There no new projects launched.

2) A fork-lift company that used to sell 20-25 units a month sold only 3 last month.

3) The textile mills in Mumbai and Coimbatore that saw a huge spike last year are on verge of closing down or have already closed down. There are no new orders.

4) It is now "buy one; get one free" if you buy appartments in Mumbai.

5) In Mumbai, the banks are no longer issuing credit cards.

6) A dear friend told me that if you have money in bank, go to a house constructor, open your check book and offer cash. You will get an appartment at the price you name.

These will not make the headlines. These have been told to me by people I meet and talk to. So when Infosys declares that they will recruit 25,000 this year, I am filled with hope. But then my eyes fall on Ratan Tata's suggestion of an US like injection and I am all confused.

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Ashwin said...

Hi Amitabh,
Point no.6 - Which city are you refering? Bangalore, Mumbai,Delhi,etc.

Quite surprised to hear this.



Amitabh said...




Ashwin said...

Thanks Amitabh.

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