Wlc Magazine

issue on 1

Mile Stone A Magazine of the WLC College

WLC College of India

A day at Dakshina Chitra

Whats in and Whats Out

www.wlccollege.org

Do it Easily

India’s Successful BUSINESSMEN

1/2/2008

Content

The Editor

Hi, All schools, all colleges, have two great functions: to confer, and to conceal, valuable knowledge. The theological knowledge which they conceal cannot justly be regarded as less valuable than that which they reveal. That is, when a man is buying a basket of strawberries it can profit him to know that the bottom half of it is rotten. Concentrate all your thoughts upon the work at hand. The sun’s rays do not burn until brought to a focus. We are told that talent creates its own opportunities. But it sometimes seems that intense desire creates not only its own opportunities, but its own talents. Mile stone, Well it is a college magazine. This magazine is by WLC College Chennai. Its got content to interest all the four main departments of the college ie Design, Fashion, M.B.A & Media.

A legent one of the

Greates Cinematographers of all time

A day at Dakshina Chitra

India’s Successful businessmen

WEB MASTER

Do it Easily

“Subrata Mitra”

RITU KUMAR Whats In and wats out

Bankruptcy HITS SHEARSON LEHMAN BROTHERS

A day at Dakshina Chitra

Dakshin Chitra is a very famous heritage centre located in the Muttukadu area of Tamil Nadu state. The place stands on the East Coast Road, on the way to Mammalapuram. Chennai city is the nearest and located north of Dakshin Chitra. The place can easily be reached out by boarding a bus at Chennai, one that is bound for Mammalapuram. The place is about 30 far from Chennai. Dakshin Chitra is symbolic of the traditional South Indian state. The place forms one of the best folk museums of Tamil Nadu, architectural heritage of Tamil Nadu, Kerela, Karnataka and Andhra Pradesh. At Dakshin Chitra one can have some enlightening glimpses of Indian states in the past. The place is provided with recreated and remodelled buildings that correspond to the primitive ones, the ones which used to be built hundred and more years ago. An agricultural house with a large granary provides some useful insights of the Indian past. There is a potter’s house featuring the age old craft, weaver’s house that elicits the knowledge about the Kanchipuram crafts, Brahmin house packed with religious arts and crafts, thatch huts, stone horses and elephants and more. At Dakshin Chitra one comes to experience the Indian way of living that has been somewhat lost in the contemporary oblivion.

On 5th of September 2008, an enthusiastic lot of WLC college Design students accompanied with two faculty went on an culture based photography field trip. The Students with there camera went around different states and captured the extinct culture in their own different views. To get the feel of it some students tried their hand on different types of art like pottery, basket making and many more

1

2

Do it Easily

in Photoshop. Now we are going to increase the

Set MAX RADIUS:

overall contrast of the picture by burning it a bit. Go

4 and leave the rest

to IMAGE > ADJUSTMENTS > LEVELS…With

with

this image we are going to set the INPUT LEVELS

values.

the

default Press

to 60 / 1.00 / 220.

OK

But this is only

to

for this example.

PALETTE and set

Choose the best

the

settings

MODE to DARKEN.

for

and the

then

go

LAYERS

BLENDING

each photo.

Adding comic book elements to the picture In this step we are going to give the photo an illustrated look with some graininess to give the

The effect looks nice so far. It is not a realistic old

illusion of an old and bad quality paper. It is not

comic book effect, it simple resembles that look.

a realistic effect, it is just some distortion to the

To make it more real, now comes the fun part. We

image to help us achieve the final look. Go to

are going to add some unique elements that are

FILTERS > ARTISTIC > FILM GRAIN. In this

very popular on comic books and strips Select the HALFTONE layer and set a STROKE LAYER STYLE of WIDTH: 20px, POSITION: Inside and COLOR: #F5ECE1. Lets add a border to the image: Add a new empty the the we

layer

layer

above

containing rectangles

created

in

the

previous step. Select case we are going to use: GRAIN: 4, HIGHLIGHT

the

AREA: 0, INTENSITY: 10. Try different settings for different photos. How about a fun effect for your incredibly boring

Click on the image below to see a larger and more

photo albums? Creating a old comic book effect

clear image of the

for your photos is easy and the results are visually

final results.

Duplicate the layer and name the new layer HALFTONE¬¬

captions to your photos using comic book fonts and design elements. Old halftone print This tutorial will show you how to give a comic

effect

book look to your photos using a couple of filters

Download

and some additional decorations.

open

this

SELECTION

from the top left (right inside the frame) to the bottom right border of the image.

and photo

3

to

EDIT

>

In this step we are going

STROKE,

apply a halftone pattern

WIDTH:

to the image to give the

COLOR: BLACK,

final

L O C AT I O N

old

comic

book

printing effect. Go to

CENTER

FILTER > PIXELATE >

press OK.

COLOR

DESELECT

HALFTONE.

TOOL

from the TOOLS PALETTE. Draw a selection

Go

appealing. More fun is achieved when adding

RECTANGLE

set 4px,

and the

4

current selection and go to FILTER > BLUR >

read they just scan the whole thing and normally they

Talk business; avoid company specific or unfamiliar

BLUR MORE. Then apply a small distortion using

are impatient i.e. they do return if they don’t find what

technical names.

FILTER > DISTORT > RIPPLE… (Amount 20%,

they were searching for or if the page takes too much

Size Medium). Now, lets sharpen the stroke a bit with FILTER > SHARPEN MORE and there you have a nice simulated hand drawn border.

Adding captions using a comic book font To add captions to the photo you can use any font you like, but only using fonts specially designed for comic books you will be able to achieve the desired look. Download the free font Digital Strip and install it. At the end of this article you will find a lot of free and commercial comic book fonts and resources.

WEB MASTER Web page design is a process of conceptualization, planning, modeling, and execution of electronic media content delivery via Internet in the form of technologies (such as markup languages) suitable for interpretation and display by a web browser or other web-based

visitors as complex structures are harder to read, scan

marks related with usability of the site.

and analyze and work with it.

without filling up long web forms and forcing them to

as organize i.e. provide user with a clear consistent

share their private data.

structure, economize which includes elements like

collection of electronic files residing on one or more

simplicity, clarity, emphasis and distinctiveness and Rule # 3 Attract users - Integrate images and web 2.0

communicate i.e. match your expression with user

the page using HTML, XHTML, or XML tags.

elements in your website to make it more attractive.

capabilities.

Most of the people think that it is visual appearance

and dynamic content.

Make your website eye catching providing both static Rule # 9 Conventions are not always bad - Conventional designs doesn’t result in a boring website as they Rule # 4 Make uses of Modern web designs - Simple

reduce the learning curve and can help you gain users’

1-2-3-done steps, large buttons with visual effects

assurance and belief.

are definitely better as compared to simple web elements.

Rule # 10 Test early Test often - This so called theory should be applied to every web design project. Testing

So, most of the designs we do see over different websites

the one below:

information to reduce the load cognitive load for the

must be to don’t let users think and eliminate question

The intent of web design is to create a web site (a

everything.

And that’s all. Your image should look similar to

friendly in all respects. A web designer’s basic objective

Rule # 8 Express yourself effectively - Follow the

user; finally a user has to use the site and has to decide

also looks good.

Rule #7 Divide the content - into digestible pieces of

visible language which has three basic fundamentals

success but first thing is Utility. After all it’s all about

white rectangle. Highlighting some words in bold

- Website’s navigation and architecture must be user

explore, discover and test your site and services

visual appearance does have involvement in site’s

Then write a caption for the photo at the bottom

view, the best site design option is to keep pure text

Rule # 2 Keep user requirements minimal - Let user

is Usability that determines site’s faith no doubt that

shadow and a bright contrasting color.

at user’s behavior let’s talk about the basic rules of

graphical user interfaces (GUIs).

that determines a site’s success or failure but in fact it

the first letter of the text by adding a stroke, a

objective of the site design. From the user point of

#1 Web Page must be obvious and self explanatory

text, forms, and bit-mapped images can be placed on

type a date on the top orange rectangle. Play with

Rule # 6 Keep it simple - should be the fundamental

want to have complete control. After having a glance

without much advertisement in it.

web servers) that presents content Such elements as

Using the Digital Strip font you’ve just downloaded,

of time to load. They usually follow their intuition and

Rule # 5 Effective Writing - Fine-tune your writing

is a repetitive process i.e. one must keep testing to

approach to users’ preferences and browsing habits.

produce useful results.

are user-centric. Before talking about principles of web

Celebrates Independence in matchless-creative style

design, first take a look at how user look or interact with a website and their basic patterns of behavior. Visitors

Chennai, 15th August 2008: Continuing the spirit of freedom with creativity in their hearts, team WLCI Chennai today organized a spectacular oneof-its-kind event at Abirami Mega Mall to commemorate India’s 61st year of Independence. “Freedom 61”- the event which was second in series, comprised of live creation of biggest greeting card. Students from the Advertising & Graphic Design and Business department under the guidance of their Department Head Mr. Immanuel Robinson, created this 50ft tall greeting card in just 45 mins! The event was equally supported by Mr. Keshavdas, Mr. Prasad amongst

glance at every new page and scan some of the text and normally do click at something of their interest on a website and if they don’t find it of their interest then Back button is clicked and search is continued. In all this process there may be the large parts of text at which they even do not even look at. Overall users do appreciate quality content even if a page is filled with lots of advertisements and is not well-designed then too they don’t mind reading it. Second thing to notice about them is that they don’t

others. A big gathering of cheered the team during the event.

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6

Whats In and wats out

. I mean, they sure won’t fit a formal dress

It’s practical and at the same time

We’ve talked about t-shirts before, but

or anything, but they’re great for a casual

fashionable. The way it’s narrowed on

this one’s so cute and pink, . They look

going out wear. Like say a nice top and

the top brings me back in time. It looks

good in combination with practically

some jeans, or some casual dress. Short

like an old fashioned travel bag, but at the

everything (well maybe not this particular

sleeves, sleeveless, strapless; just don’t

same time it has the today’s modern look.

one, but you know what I mean). This

wear them with long sleeves. As you see

As I said it’s not the perfect choice for

one’s more casual or even sporty style.

you get colors to choose from so match

the summer season and I certainly don’t

It’s a bit long for my taste, but that’s just

them wisely. I especially like the fact that

see it in combination with fairy summer

me. Anyway, it is fun, it is bright, and it is

the colors are somewhat dull and go well

dresses or shorts, or even summer suits,

charming. And just to remind you - stripes

with the dark wood. I don’t know about

The right season for it is probably fall

are still here. Now, I won’t plunge into

you, but I’m kinda sick of all the late

or even winter, when the dull colors are

explanations about possible combinations

flashy summer colors like yellow, baby

more tolerable and the things you need to

and what will look good and what won’t,

pink and poison green. So it’s nice to have

carry are bulkier…you’ll certainly need

because I trust you that much. Just mind

something dull for a change. It’s massive

something like this bag then. For now stay

the colors and you should be fine. And one

enough to make an impression and adding

with the small purse like bags, but don’t

more note – this type of t-shirts is pretty

a necklace may just overcrowd the outfit.

forget that seasons change and it’s never

tight and follow the contour of your body,

Earrings would be nice though, but again

too early to start shopping for them. So do

so if that’s bothering you, you can always

they have to be well matched.

the right thing

go for the plain straight t-shirts.

It’s yet another American Eagle item and to be honest it’s something I think every men should have in his wardrobe. Not that I mind t-shirts, but even the sportiest looking shirt will add more formal look to your outfit. And it’s not a bad thing to dress up from time to time…just for the sake of showing interest if not else. We dress up for you every time…buy a shirt and return the favor at least ones. And here’s a good start – plain design and a single dark color - nothing too scary. It’s a great shirt. It’s easy to match and it will work with practically everything – from creased pants to shorts if you insist. It’s a great summer choice and I really insist on you buying at least one. It is not gonna be a mistake, I promise.

7

Those things have been around for a long, long time and they sure are here to stay. Still they’re like any other fashion accessory – if not combined appropriately, can ruin the entire view. So liker or hater, make sure you match them right. And not just the colors…style too. If you’re dressing up over the casual wear – forget about it. And I know you’ve seen suit and cap combinations, but please try to resist copying those people. And I don’t know about you, but my personal favorites are the clean, simple ones. Like the one I’m showing you - nothing too flashy, nothing too much – easy to combine and very nice looking. And one more thing – caps don’t look good on everybody. Don’t just buy it, because everyone’s wearing them – make sure it looks good on you first.

If you think the summer shoes are just flip-flops, sandals or flats you’re so wrong. And what about the guys - they can’t wear flip-flops all the time right. I think this looks classy (as much as sneakers can look that way). I like the dull colors and the contrast they make with the white sole and laces. I also like the fact that the colors are easy for combinations – black and white just go with everything so the room for mistake is practically zero. You know you can wear those with basically everything jeans, shorts, even suits if the occasion allows it. So even though the summer may be a little hot for sneakers, they still are the most comfortable and dominant shoes in the male shoe market. You just can’t go without them.

8

RITU KUMAR

R

itu Kumar is one of India’s

the products from the handicrafts can be

today’s mobile lifestyle. It is fashionable,

leading designers, who have

as profitable and even more glamorous

affordable and like all Ritu Kumar products,

created a distinct style of

compared to that of machine and that Indian

it possesses the very highest quality.

designing,

ample

fashion is more than capable of holding

focus on the ancient traditions of Indian

its own stature in the global field of haute

craftsmanship in contemporary terms. Ritu

couture. Her creative fashion is distinctly

Kumar has a solid background in art history

recognizable by its controlled expression

The name Ritu Kumar does not require any

and musicology, which has enriched her

of art, beauty and elegance. Her design

introduction among the fashion buffs around

prospects, understanding of ancient designs

philosophy is based on the hypothesis that

the world. She is the empress of Indian haute

and the innovative use of traditional crafts

everything founded on good aesthetic cuts

couture and one of India’s leading and most

by Ritu Kumar, has created a new controlled

across all borders-be they geographical,

gifted fashion designers.

form of expressions. Ritu distinctively holds

cultural or otherwise. This very beauty is the

the status of an advocate of the heritage

factor central to the Indian handicraft which

The desire to own a Ritu Kumar original

in the Indian fashion industry, and she

underlies all of her creations.

creation is every bride’s dream. Ritu has

giving

has successfully bridged the gap between traditionalism and modernity.

nurtured a unique and incomparable style As the world has truly become a global

of her own which includes ancient Indian

village, more and more of the elements

handicrafts such as zardozi, bandhani

Ritu began her venture with four hand-block

that make up modern culture are taking

and

printers and two tablets; in a small village

on rich hues and ethnic tones. Pluralism

them with a contemporary flair to create

near Kolkata in the late 60s was incidentally

is the central idea, while the tastes are

stunning outfits.

the first woman to introduce the boutique

rapidly becoming diverse. Within fashion,

culture in India under the brand name ‘Ritu’.

the Indian techniques used by Ritu Kumar

the bridal collection is a beauty delicately

Today she has thirty four outlets in all major

have increasingly commanded a premium

adorned with the intricate use of expert

cities in India and one outlet in America.

for their creativity, style and finish. The

zari

Ritu Kumar’s boutiques usually presents you

Indian influence on contemporary wear is

thread work. These garments are crafted in

with a comprehensive platform surrounding

unmistakable when it is designed by Ritu.

naturally rich fabrics like silks, georgettes,

the top quality of Indian design that includes

chikan

work

embroidery,

and

she

combines

embellishments

and

crepes, tissues.

specially produced range of high fashion

In agreement with these evolving latest

garments and accessories using silk, leather

trends, in the April month of year 2002 Ritu

Sarees are the part of the vast and

and cotton. Ritu Kumar’s range of Indian

Kumar launched her new co-brand, ‘LABEL’.

vivid collection exclusively created the

and western clothing encompasses traditions

This brand reflects modern and global trends

saree designs have the distinct touch of

and individual talent and women across the

that shape our lives in the modern times.

genius designs.

globe can easily identify themselves with

‘LABEL’ is created essentially to cater the

her vision of designs. Ritu has gone a long

requirements of modern woman, who is self-

Every time she was able to deliver

way to create her own definition of the term

sufficient, perceptive and universal. It is a

mesmerizing designs to her ardent fans

‘fashion’ in the Indian context.

modern offering with a specific focus on the

world over. Ritu kumar designs exhibits

cut, color, drape and feel of the garment.

exquisite blending of the Indian handicrafts

This brand has a universal appeal aimed at

with contemporary mediums.

She has successfully demonstrated that

9

Collection

10

A legent

I got to know Subrata Mitra on Victor Banerjee’s film ‘An August

exposure, the texture of the skin, a fine eye for details that were an

Requiem’ and for some unknown reason he decided to take it upon

inescapable mark of films that he waved his wand over. Unlike others at his time he didn’t keep this a dark secret either. His

Greatest Cinematographers



S

to light up the scene. But more than lighting it was the quality of

himself to draw me into his world of light and magic.

one of the



Subrata was the Jedi Master, quite simply the best.

Born in 1930 Subrata Mitra wanted to become an architect or a

passion was to share information, to draw students, his crew and

cameraman. When Jean Renoir was making ‘The River’ in Calcutta

anyone else into his world. He’d take pains to explain his lighting

Subrata tried to get a job as a camera assistant but failed. Stubborn as

style and in moments of doubt wouldn’t hesitate to turn to his

he was, he would tell me years later, he didn’t take no for an answer,

assistants and say, ‘what should the exposure be?’

hung around and followed the unit with his little notebook in which

of all time

“Subrata Mitra” ubrata Mitra is perhaps the greatest ever Indian

Panchali’ led to a collaboration with Ray which produced 10 films

cinematographer who revolutionized prevailing aesthetics

in 15 years.

he wrote and made meticulous sketches. This paid off, for later the

I found the Bombay Film Festival incomplete, his stubby pencil,

cameraman Claude Renoir was asking Subrata for his notes on the

his fat address book which he stubbornly used even though we had

film to check on his own lighting schemes. It was here that he met

tested all the possible digital diaries available on this planet, the way

a young illustrator working in an advertising agency and planning

he stirred his coffee; holding his spoon in his nicotine stained fingers,

his first feature film - Satyajit Ray. Ray wanted to break away from

stirring, pausing and then stirring again. I missed someone who

the conventional lighting styles followed in the commercial cinema

was passionate about films, someone who fretted about scheduling,

of Calcutta and looked towards the 21 year old science graduate to

about which films to see, about the quality of projection, of image,

photograph his feature ‘Pather Panchali.’

of lighting and about filmmaking itself.

in Indian Cinema with innovations designed to make light more realistic and poetic.

Mitra made his first technical innovation while shooting ‘Aparajito’. The fear of monsoon rain had forced the art director, Bansi

Mitra was born into a middle-class Bengali family in 1930. Even

Chandragupta, to abandon the original plan to build the inner

as a schoolchild he would cycle with classmates to the nearest

courtyard of a typical Benares house in the open and the set was

cinema to watch British and Hollywood films. By the time he was

built inside a studio in Calcutta. Mitra recalls arguing in vain with

in college, he had decided he would either become an architect or

both Chandragupta and Ray about the impossibilities of simulating

a cinematographer. Failing to find work as a camera assistant he

shadowless diffused skylight. But this led him to innovate what

reluctantly continued studying for his science degree.

became subsequently his most important tool - bounce lighting. Mitra placed a framed painter white cloth over the set resembling a

In 1950 the great Jean Renoir came to Calcutta to shoot ‘The

patch of sky and arranged studio lights below to bounce off the fake

River’. Mitra tried to get a job on the film but was turned away.

sky. Apart from his brilliant work with Ray on films like ‘Charulata’,

With the efforts of his father he was given permission to watch the

Mitra also shot four films for Merchant Ivory Productions in the

shooting. Out there he used to make extensive notes and meticulous

1960s - ‘The Householder’, where he photographed most of the

diagrams detailing the lighting and the movements of camera and

film with six photoflood lamps, ‘Shakespeare Wallah’, ‘The Guru’,

actors. In fact one day the cinematographer Claude Renoir asked

which was the first Indian film shot entirely with halogen lamps and

for his notes to check lighting continuity before doing a retake. The

Henri Cartier-Bresson was there inspiration and while the two had

Subrata Mitra was obsessive about details. ‘God is in the details,’

appreciated the light and contrast in Cartier-Bresson photographs

he would say quoting the architect Mies van der Rohe and also

they had never seen any of this in cinema. In ‘Aparajito,’ Ray’s second

echoing what Satyajit Ray said, ‘It’s details that make cinema.’

film Subrata introduced ‘bounce lighting’ in cinema. He achieved

It was the attention to detail that made Subrata what he was. On

‘Bombay Talkie’.’ [From the upperstall.com website.]

his special quality of light by stretching a white cloth across the

an Indian Airlines flight he took a white plastic cup cut it in half,

open courtyard of the set they had built in a studio. Placing studio

fitted it onto his still camera converting it into an incident light

photograph the film for him. And so at the age of 21 Mitra became

Subrata Mitra became one of the greatest cinematographers of all

lights below he bounced them off of the cloth to simulate a diffused

meter. It was as accurate as the professional one he had which

a director of photography. The film he was to photograph - ‘Pather

times. A man known for his attention to obsessive detail as well

daylight feel. Bounce lighting was born and people who saw those

cost him over $400!

Panchali’, and the director - Satyajit Ray. ‘Pather Panchali’ was shot

as one known to terrorize actors, put the fear of god in all film

early Ray films in the 50’s and 60’s were shocked by the look and

In New York, Subrata Mitra was looking at a poster of one of

over four years in chunks whenever Ray was able to find funds. In

laboratories and bring even the greatest directors to their knees.

photography; they had never seen anything like this before!

the Ray films when a voice boomed from behind, ‘I’d love to

fact for 18 months the production shut down entirely until Ray’s

In the days before instant video monitoring and digital gizmos,

mother talked to a friend of a friend of the Chief Minister of West

cinematography was the dark art and the cinematographer it’s wizard;

Bengal who agreed to finance the remaining part of the film. ‘Pather

with his array of secret charms and spells he could bind you in.

other gentleman was planning a film and one day he asked Mitra to

11

meet the man who shot this film.’ Subrata turned around and said Subrata Mitra mentioned to me that it was in nature and life around

quietly, ‘that was me.’ He was immediately swept up in a bear

him that he found his inspiration for lighting. He’d always look for

hug by a man who kissed him on both cheeks and said, ‘You are

a natural source; a window, a skylight, a lamp and then use that

truly a genius.’ The man was Vittorio Storaro.

12

Bankruptcy HITS

Citi Statement Regarding Lehman Brothers Bankruptcy Filing

SHEARSON LEHMAN BROTHERS Is Lehman Brothers next? Posted Mar 15th 2008 8:39AM by Peter Cohan Filed under: JPMorgan Chase (JPM), Lehman Br Holdings (LEH), Bear Stearns Cos (BSC) What happened this week could be the start of something bad. As the Fed -- using JPMorgan Chase & Co. (NYSE: JPM) as its conduit -- bailed out The Bear Stearns Companies (NYSE: BSC), I was watching which banks were falling the most in sympathy. Next on the list? Lehman Brothers Holdings Inc. (NYSE: LEH) whose shares lost 14.6% yesterday -- a huge drop but nothing compared to Bear Stearns’s 47% decline. What exactly is going on here? The Wall Street banks hold the cash and securities of corporations, hedge funds and other investors. If a Wall Street bank files for bankruptcy, the bankruptcy process freezes those assets so that the customers can’t get access to them. Thanks to bankruptcy law, the courts get to decide which creditors will get their hands on those assets. The reason Bear Stearns failed is that its customers withdrew their funds so they would not be frozen by bankruptcy. The Fed stepped in because -- as I suggested Thursday -- it was faced with a choice of the lesser

of two evils. It chose to create a “moral hazard” by bailing out Bear Stearns over letting it fail because it thought the cost of moral hazard was less than the cost of wiping out Bear Stearns shareholders and customers and all the collateral damage (pun intended) that would ensue. So why is Lehman Brothers the next one at risk? Well, Lehman Brothers shares fell 14.6% on Friday. And according to Reuters, it holds “extensive mortgage assets, and one credit derivatives dealer, speaking on condition of anonymity, said his bank was pulling back on its exposure to Lehman, as were his clients. Rumors of funds unwinding positions with Lehman abounded, with everybody from risk management consultants to hedge fund managers to traders having heard them.” Moreover, while Lehman reported extensive liquidity in November, Bear Stearns did as well. Specifically, Lehman had $35 billion of liquid assets, and another $160 billion of assets it could sell if it had to. Lehman said on Friday it had closed on a $2 billion, 3-year unsecured credit facility. Unfortunately, what was true in November may not be true right now. For all we know, Lehman customers could be spending the weekend frantically trying to withdraw their money. A Lehman spokesman issued a statement bragging

13

about its liquidity (Bear Stearns CEO did that earlier last week). “Our liquidity position has been and continues to be very strong,” adding that the company’s standing plan to handle liquidity is a competitive advantage. I think the Bear Stearns experience suggests that investors may need more concrete assurance of Lehman’s liquidity Citi issued the following statement today about situation. its role as indenture trustee of Lehman Brothers That market does not appear convinced. Reuters bonds: reported that “the cost of protecting Lehman’s obligations against default for five years surged to “Citibank N.A. is listed in the Lehman Brothers 465 basis points, or $465,000 a year per $10 million bankruptcy filing as an indenture trustee for bond debt of approximately $138 billion under Lehman protected, from $400,000 the day before.” Brothers Holdings Inc. Senior Notes. Citi wishes to The simple reality is that there is not enough clarify that our role in this issue is administrative in detailed, accurate, and timely information about nature and does not represent exposure for Citi to Lehman Brothers’ actual situation to judge what is Lehman. Any assertions to the contrary are false.” going on. Citi, the leading global financial services company, But I find it hard to believe that Bear Stearns was has some 200 million customer accounts and does so much worse than every other firm on Wall Street business in more than 100 countries, providing that it will be the only one affected by this flight to consumers, corporations, governments and safety. institutions with a broad range of financial products and services, including consumer banking and Meanwhile, I wonder whether the Fed will bail out credit, corporate and investment banking, securities all these banks, and if so, can it afford to do so? brokerage, and wealth management. Citi’s major brand names include Citibank, Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson CitiFinancial, Primerica, Smith Barney, Banamex, College and edits The Cohan Letter. He has no and Nikko. Additional information may be found at financial interest in the securities mentioned. www.citigroup.com or www.citi.com.

14

India’s Successful businessmen

Reliance Industries chairman Mukesh Ambani is, according to Forbes the world’s fifth richest man and his net worth is estimated at $43 billion. The Indian billionaire and his younger brother parted ways after the death of their father, Dhirubhai,

The leadership, diligence, foresight and wisdom that a great entrepreneur demonstrates can help shape a company’s -- even a nation’s -- destiny.

the patriarch of the Reliance empire. Mukesh is currently building a $2-billion home on Mumbai’s Altamount Road.

Mukesh Ambani

Indian corporate history is replete with business icons who have changed the way the world looks at India, and helped shape a new future for the nation. But before we move on further, here is a caveat: This list of India’s corporate giants is by no means complete. Nor have these Indian business icons been ranked. Their pictures have been arranged in random order. Here’s a list of some of India’s most admired and entrepreneurs

Anil Ambani is Mukesh’s younger brother. With a net worth estimated at $42 billion, he is also the world’s 6th richest man. The chairman of the Anil Dhirubhai Ambani Group, Anil has a vast range of companies under his umbrella: Reliance Communications, Reliance Capital, Reliance Mutual Funds, Reliance Energy He is married to former Bollywood actress Tina Munim.

Anil Ambani Ratan Naval Tata has been in the news for the past few days due to the unseemly controversy over the Nano car plant in Singur, West Bengal. The 70-year-old is the chairman of the Tata Group, which is one of India’s largest conglomerates. Bharti Group chairman & managing director Sunil Bharti Mittal is one of India’s greatest success stories. In just a period of 10 years, he has built India’s largest cellular services company.

A bachelor, Tata is one of the most admired businessmen not just in India but the world over. He

Ratan Tata

has been at the helm of the Tata empire since 1991. His net worth is estimated at close to $12 billion.

Sunil Bharti Mittal

Azim Premji is the chairman Wipro, India’s second largest software firm after Tata Consultancy Services.

Vijay Mallya is a shrewd businessman and a Member of Parliament. He is the chairman of the United Breweries Group and Kingfisher Airlines.

Premji is credited with transforming Wipro, his family’s vegetable oil business, into one of the world’s foremost software company.

One of India is richest men, his wealth is estimated at $1.4 billion. Mallya is also the owner of Force India F1 racing team and also of the Indian Premier League is cricket team, Royal Challengers

Although one of the richest Indians, he flies economy class and is happiest when hiking, reading or

Azim Premji

discussing the foundation he has set up to promote primary education.

Bangalore.

15

Vijay Mallya

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A Harvard alumnus, Anand Mahindra is the vice chairman and managing director of Mahindra & Mahindra. The 53-year-old businessman has taken his company to unprecedented heights. He is married to Anuradha Mahindra, who edits three niche magazines.

Anand Mahindra

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S ‘Kris’Gopalakrishnan is the co-founder and chief executive officer of Infosys Technologies Ltd. An IIT-Madras alumnus, Gopalakrishnan is a very soft-spoken and shy person. His net worth is estimated to be around $1.4 billion.

S ‘Kris’ Gopalakrishnan

Power on a pedestal. Nagavara Ramarao Narayana Murthy is the co-founder, non-executive chairman and chief mentor of India’s best known software firm, Infosys Technologies Ltd. Murthy is a globally known and highly regarded entrepreneur.

N R Narayana Murthy

Padma Bhushan awardee and Rajya Sabha member Rahul Bajaj is the chairman of Bajaj Auto. An alumnus of Harvard Business School, Bajaj is an outspoken and fearless entrepreneur. His two sons, Rajiv Bajaj and Sanjiv, are now handling the Bajaj businesses, under his guidance.

Rahul Bajaj

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iMac sets the standard for elegance and power. It packs a complete, high-performance computer into its allin-one design. With an anodized aluminum frame and glass cover, it’s striking to behold. The 20- and 24inch glossy widescreen displays make photos and movies come alive with rich color. The use of recyclable glass and aluminum makes iMac friendlier to the environment, too.

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