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Why Non-Promoter Companies Command Cool Valuations?
It has been an inconclusive debate. Which is better of the two: Family-run businesses or professionally managed companies? In today’s world, the business dynamics have changed quite drastically.  So much so, private equity firms have come to play a dominant role in driving the destiny of any business. When a business entity aspires for growth, a quick one at that, a trade-off becomes inevitable. The founders, nay promoters, don’t hesitate to sell a perception and project to the world at large that their enterprises are professionally-managed. This statement attracts PE players in hordes and in the process drives up valuations. Hence, it has come as no surprise when Zomato founders declared that they aren’t the promoters as their holding dropped below 25%. Ditto: Paytm. The oldest example of a company without a promoter is that of L&T, an Indian multinational conglomerate which is professionally managed. In the case of ITC, it is 29.4% owned by UK-based BAT, again no owners but a professionally managed company. Likewise is Hindustan Unilever, a subsidiary of British company Unilever. Being a promoter does not entail benefits nor liabilities. But, in case of any eventualities – like we saw with Vijay Mallya or Mehul Choksi – the buck stops there. Giving up the promoter‘s tag to attract global PE players may be a new trend but will it last?
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After Rahul’s Tractor Rally, Top Cop Asthana's Delhi Takeover Rattles AAP Govt
The tractor rally to Parliament House on July 26 by Congress leader Rahul Gandhi caught everyone by surprise. It left the Union Home Ministry, Arvind Kejriwal’s government and the Delhi police red faced. It was an intelligence failure. According to OpIndia.com: “The tractor was sneaked into the area in a container, secretly offloaded at the office of Congress Rajya Sabha MP KTS Tulsi at Moti Lal Nehru Marg, about one and a half kilometres away from the Parliament.” The damage was done. Senior IPS officer Balaji Srivastava who took over as the 23rd Commissioner of Delhi on June 30, 2021 was immediately replaced by Director General of Border Security Force Rakesh Asthana. Some feel it was a good excuse to remove Srivastava and replace with a loyal Asthana. A 1984-batch IPS officer from Gujarat cadre, Asthana was appointed as Delhi police chief, three days before he was to superannuate. Now, in addition to Lieutenant Governor Anil Baijal, the Kejriwal government will also have to deal with Asthana. The AAP government passed a resolution in the Assembly: “It is beyond any reasonable understanding as to why a controversial officer who was removed by this Central Government from the post of Special Director CBI in October 2018 and was not considered fit for the post of CBI director only very recently, is being imposed on Delhi Police.”
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Second Innings In Bollywood: How Many Stars Succeed?
Everybody deserves a second chance. In Bollywood, yesteryear’s stars are padding up for a second innings. Mandakini of Ram Teri Ganga Maili fame, Kalpana Iyer who predominantly played a vamp role, and Farheen Prabhakar, a Madhuri Dixit look alike who married cricketer Manoj Prabhakar, are keen to return to acting, and don’t mind playing their age.  Big B was lucky. Kaun Banega Crorepati launched him into the stratosphere and there was no looking back. But, not everybody is lucky. Superstar Rajesh Khanna tried very hard to make a comeback but alas. Ditto: Popular star Mumtaz. Versatile star Govinda who is making guest appearances on reality shows, is yet to get the big break on the silver screen. Fardeen Khan is also knocking at producers’ doors and may sign up for a web series. For Madhuri Dixit-Nene the return was not a cakewalk. She has now come to terms, and settled down to judging a dance reality show, acting in a web series for Dharma Productions and occasionally cutting an album. Effectively, she is in the limelight. Shilpa Shetty had a high visibility thanks to a reality show Super Dancer, and her Yoga album, but got a break in the big screen after a gap of 11 years. Bhagyashree of Maine Pyar Kiya fame will be seen in Thalavi, a biopic on J Jayalalithaa played by Kangana Ranaut.
50th Anniversary Of The Bengali Hindu Genocide: Cry, The Beloved Country
I rise in sad remembrance of the 50th anniversary of the Bengali Hindu Genocide,” Sheila Jackson Lee, U.S. Democratic Congresswoman, offered her prayers in the House of Representatives, putting spotlight on Pakistani Army’s 10-month reign of terror known as Operation Searchlight (started on March 25, 1971) when “2 to 3 million people were killed, over 200,000 women raped in organized rape camps, and over 10 million people displaced, most finding refuge in India.” In remembrance of the Bengali Hindu Genocide victims, Tulsi Gabbard, former U.S Congresswoman and 2020 Presidential candidate, quoted U.S Senator Ted Kennedy: “Hardest hit have been members of the Hindu community who have been robbed of their lands and shops. Systematically slaughtered.” She added: “The Islamist persecution of Hindus and other religious minorities in Bangladesh didn’t end with Bangladesh’s Independence. That campaign continues to this day with horrific targeted attacks, murders, homes being burned down and families who continue to be forced to flee.” For many, this campaign has now reached West Bengal. The extent of the bloodlust unleashed after TMC’s spectacular poll victory over BJP has left pro-Hindu voices seething in despair. The NHRC is appalled to discover “a pernicious politico-bureaucratic-criminal nexus” behind 29 murder, 12 rape, and 940 cases of loot and arson during May 2 to June 20. The Calcutta High Court will hear the matter on August 2.
tulsi_gabbard
50th Anniversary Of The Bengali Hindu Genocide: Cry, The Beloved Country
I rise in sad remembrance of the 50th anniversary of the Bengali Hindu Genocide,” Sheila Jackson Lee, U.S. Democratic Congresswoman, offered her prayers in the House of Representatives, putting spotlight on Pakistani Army’s 10-month reign of terror known as Operation Searchlight (started on March 25, 1971) when “2 to 3 million people were killed, over 200,000 women raped in organized rape camps, and over 10 million people displaced, most finding refuge in India.” In remembrance of the Bengali Hindu Genocide victims, Tulsi Gabbard, former U.S Congresswoman and 2020 Presidential candidate, quoted U.S Senator Ted Kennedy: “Hardest hit have been members of the Hindu community who have been robbed of their lands and shops. Systematically slaughtered.” She added: “The Islamist persecution of Hindus and other religious minorities in Bangladesh didn’t end with Bangladesh’s Independence. That campaign continues to this day with horrific targeted attacks, murders, homes being burned down and families who continue to be forced to flee.” For many, this campaign has now reached West Bengal. The extent of the bloodlust unleashed after TMC’s spectacular poll victory over BJP has left pro-Hindu voices seething in despair. The NHRC is appalled to discover “a pernicious politico-bureaucratic-criminal nexus” behind 29 murder, 12 rape, and 940 cases of loot and arson during May 2 to June 20. The Calcutta High Court will hear the matter on August 2.
Rahul_dravid
Rahul ‘The Wall’ Dravid Defends Rookie Batsmen
The most famous “Wall” of world cricket, Rahul Dravid completed his first assignment as head coach of the Men in Blue in the six-match white ball series against Sri Lanka in Colombo on Thursday night (July 29). Someone who gives precedence to the “process” of development for the young and upcoming, and not unduly bothered by outcomes, the 48-year-old put up a stoical demeanour after a weakened Shikhar Dhawan team (Prithvi Shaw and Suryakumar Yadav were on way to England, and a few more were not available because of COVID-19 related isolation) were groping for answers to the cunning Lankan tweaker Hasaranga, and went down 1-2 in the Twenty20 skirmish. A part of the phalanx of the Indian middle order for more than a decade that had Sachin Tendulkar, Sourav Ganguky and VVS Laxman, Dravid was on the spot explaining that every generation takes time to find its feet in international cricket, and that he was not disappointed by the tyro Indian batsmen being outsmarted by the Sri Lankan bowling which he described as of the top drawer stuff. The big question that cropped up was: would Indian cricket see him in a similar role in the future. His answer was: “I have enjoyed this experience, but I have not thought of anything far ahead. There are a lot of challenges in doing full-time roles.”
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With Bommai In Driver’s Seat Yediyurappa’s Son Vijayendra Still A Force To Reckon With
With his father BS Yediyurappa’s (BSY) aide and minister Basavaraj Bommai in the saddle, BY Vijayendra is still a force to be reckoned with as Karnataka comes under a new regime. The central BJP leadership tried its best to bring a more amenable CM in Bengaluru who would listen to New Delhi. But with elections not far away and the Lingayat factor too strong to ignore, BJP’s top brass had to compromise. Under the new dispensation too, Vijayendra will still be a powerful factor, operating from behind the scenes. BSY, the principal architect who created a foothold in the South for the BJP, had to be kept on the right side of equations despite BJP’s compulsion in not sending the party into the polls under an 80-year-old two years hence. With his non-communal approach and his inclusive vision, BSY was a tall regional chieftain who took an independent stand. Faced with rising cases after the lifting of most lockdown restrictions, Bommai has his task cut out in his State to control Covid first and then raise his sights on the elections. This is where he will be leaning on Vijayendra the most as he was the architect who brought Congress and JD(S) MLAs on board for his father to win back the State.
chennai school
Covid-Induced Financial Stress Sees Elite Students Migrating To Sarkari Schools In Tamil Nadu
Time was when party and kitty group talk would debate how early a pregnant woman registered her kid for the top, uber sought after private school. Tamil Nadu has one of the best school systems in the country and only financial status decreed which school your ward would join. Greater Chennai Corporation (GCC) alone runs 281 schools, with 300 private schools, some most sought after. There is this convent school in Nungambakkam where aspiring parents or proxies queue up at 4 am to get the admission forms. Such proven citadels of education enhance a CV when applying for a job. The pandemic has hit middle class families hard, what with job losses and back breaking medical bills. This year there is a 33% rise in GCC schools. Of 27,843 enrolments, 15,000 are from Private and Government-aided schools. These GCC schools are no pushover. They are SMART schools, with good infrastructure, toilets, clean water and fairly good English medium teaching. Recently a Rs 280-crore makeover plan has added more sheen. TN has always been in the forefront of education. It was first to introduce mid-day meal schemes to attract underprivileged kids and cut dropout rates.  Now the GCC has just announced an innovative and inclusive strategy. Crowdfunding for further improving infrastructure and educational aids. The South leads in the most significant development index — Education.

TRENDS & VIEWS

Editor’s Note: Big Punch In Small Pack

It is the Third Anniversary of Short Post and as a news media startup launched during the Covid-19 pandemic it certainly feels better than good to find ourselves where we are today. Here, I must cite the unstinted support of our seasoned contributors, all senior editors in the country, who brought a great degree of maturity and sagacity to the Short Post newsroom. But for them, our tagline “Authentic Gossip”, an Oxymoron, would not have matured viably. Our user numbers may be small but our stories have created the desired impact among people who matter — decision makers and influencers. We offer a big punch in a small pack and Short Post with its 225-word stories has been punching above its weight category. Having posted close to 3,000 stories in the last 36 months, Short Post, I feel, is an idea whose time has come.
And this is vindicated by our two marquee advertisers – IDFC FIRST Bank and ICICI Lombard. Both believed in our story and have supported us from Day one. A big thank you to both.
If you look at the media landscape – print, TV and digital — it is a mixed bag. There are job losses as some outfits have closed down while a lucky few were bailed out by large corporate houses. Yes, there is a lot of action in the digital space. However, the entry of corporate houses has raised the question of independence of news media outfits. Sadly, there are just a handful of independent media outfits in the country that are highly respected for their neutrality. At Short Post, our credo is not to take sides, prejudge issues or be biased but, informing readers of behind-the-scenes happenings. In essence, Short Post strives to be a neutral editorial platform — neither anti-establishment nor pro-establishment.
As I said last year, disruptions in the media world are moving at a fast and furious pace. Technology is playing a very big role in how content is generated and consumed. But, we are neither alarmed nor perturbed as it is all a part of the evolution process. What gives us comfort is that AI is unable to create original gossipy content. And that is the news arena where we have achieved a distinction.