Tuesday, September 30, 2008
Monday, September 29, 2008
for all those who hasnt watched the movie, why dont u guys take some time off and park your ass on a cinema nearby?? its worth the pain!
when i switched on my system i thought of writing about the movie i saw today. but then, there is a more interesting topic to write.. my frozen drive :-) its not that i drove to himalayas !!
i went for an evening movie with a friend. had a night shift all week and hence hadn gota chance to drive at night for quite long.. by the way i love to drive my bike.. especially when the air is cool.. remember cool. not frozen!
so, we had dinner from a mallu joint [we love this place.. it serves delicious "appam".. and also "karimeen".. at times even "kappa" and "meen curry"..] okie enuf of the menu..
it was close to 10 at night and the wind was so damn cool.. ah.. i din take my jacket again! i forget it almost every time i go out.. so, with the cold wind piercing thru my body i drove at an unbelievable speed of 30kph! phew.. my bike wud have shouted at me if it had lips to speak.. ive never seen the needle so low!! the eight km strech in old bombay highway, were u cud easily race ur bike at speeds above 100, i was literally embarrassed.. did i notice a cycle overtaking me?? uh, that was exaggeration..
lesson learnt: never forget to take your jacket when u go out!
Friday, September 26, 2008
Wednesday, September 24, 2008
The market doesnt look like its gona stand by the bull! U.S. stocks fell for a second day on concern Congress will hold up a $700 billion bank bailout that Federal Reserve Chairman Ben S. Bernanke said is critical to keeping the economy out of recession.
Citigroup Inc. and Bank of America Corp. tumbled more than 3 percent after members of the Senate Banking Committee expressed skepticism about Treasury Secretary Henry Paulson's plan. General Electric Co., the world's third-biggest company, retreated 5 percent as Merrill Lynch & Co. downgraded the stock on ``growing fundamental pressures.'' ConocoPhillips and Newmont Mining Co. slumped more than 2 percent as oil retreated following a record advance and gold and copper prices decreased.
The Standard & Poor's 500 Index slipped 8.74 points, or 0.7 percent, to 1,198.35 at 3:39 p.m. in New York, after earlier increasing 1.2 percent. The Dow Jones Industrial Average lost 87.69, or 0.8 percent, to 10,928, erasing a 128-point rally. The Nasdaq Composite Index declined 5.39 to 2,173.59. Two stocks fell for every three that gained on the New York Stock Exchange.
``The credit crunch is going to become far more severe than anybody thought two weeks ago,'' said Tom Wirth, senior investment officer at Chemung Canal Trust Co. in Elmira, New York, which manages $1.7 billion. ``In my opinion this is not understood by the politicians in Washington.''
Barclays Plc, the U.K. bank that bought parts of Lehman Brothers Holdings Inc.'s U.S. businesses, may cut as many as 5,000 jobs at the bankrupt company, Wall Street recruiters said.
The estimate, based on the $2.5 billion Barclays set aside for potential severance and retention costs, would mean half the Lehman employees transferred to the London-based company may be let go. Barclays, which paid $1.7 billion for the business, said it will decide in three months who will be offered permanent positions.
you know what my worries are..
UBS says costs of closing out LEH exposures below $300m
UBS is aware of a recent research report circulating in markets regarding its exposure to the Chapter 11 filing by Lehman Brothers. UBS confirms that its direct and counterparty exposures to Lehman Brothers, net of hedges, are now substantially closed out. UBS does not expect the total cost of closing out its exposures to Lehman Brothers to exceed $300m.
I trust Marcel Rohner.. That's what i could do now! :-)
Thursday, September 18, 2008
So how does this affect you and me?
the financial market worldwide is inter related. So its quite obvious that this turmoil would definitely have its ripples in other parts of the world - india included. As for jobs - to begin with - 25k + employees have been out of their job from LB, 50k + from ML, 2.5K of them from India!
Out of the 5 leading brokerage firms in Wall Street 3 have been shut down, and with this new gossip of Morgan Stanley the future of the fourth is unknown!
Stock markets are witnesing new lows everyday! India, however, has seen the least pressure till now - thanks for the public sectors! It should be noted that even though the banks in india seems to be insulated, the rupee is depriciating to the 2-year low against dollar!
for me the question is : how would this crisis affect me? the question is significant looking at the fact that i work for a europian financial service firm which has significant exposure in US market! Let the market gurus save my bank.. let them save my salary statements!! :-)
Sunday, September 7, 2008
I would start my journey today and would be back on 21st. That also means that I would not be regular over here cos I dont have a computer at home and trust me, I hate i-cafes.. I am gona miss this world and all my friends here, especially vins, athi and sen..
Happy Onam to you all..
Tuesday, September 2, 2008
Monday, September 1, 2008
i am happy that i am alive and writing this post.. i should have been dead an hour ago carrying with me many other lives..
it so happened that i thought of frying papad for dinner. man.. i am scared of kitchen now!! i kept the pan on stove to heat the oil and was soon busy checking mails! I don't know why, i suddenly thought that i should be checking if the oil got heated or not. Guez what i found in the kitchen! The pan caught fire.. The raging fire was at least 2 feet high and i could not even think of pouring water over it 'cos the oil in it would burst out damaging the whole kitchen and maybe a lot more.. i cant imagine roaming around with a burnt face! i quickly turned off the regulator [thanks for that thought] and my mind went blank. The heat was so immense and the smoke was thick. The fire was raging towards the window pane and i thought the house is gona catch fire soon. my worst thoughts said that soon the fridge[which was kept very close 'cos of the space limitation of the kitchen] would burst out due to the heat or pressure or flames or whatever.. that might result in an explosion of the gas cylinder!! I am quite sure that if the cylinder explodes, the entire building would collapse.. 6 families... were they even aware that their lifes were at stake? this was the first time i am seeing oil catching fire.. i was scared! the only thing i did was to call my friend for help.. thankfully he was there.. thanks for his presence of mind, he threw a floor mat over the pan and poured water over the mat... i could still see the flames raging high with revenge when he poured water.. the entire house was filled with thick smoke.. it was suffocating.. we came out, opened all doors and windows and went in at intervals to pour in water.. finally, there was no fire... its then when i realised that we just misd a call from above!
i don't know how u felt reading the post.. for me.. i am scared to shit... but tell u wut, it was damn exciting!!!
ill never fry papad in my life!!!