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Friday, July 31, 2009
Fwd: Microsoft Virtual TechDays - Block your dates for the 6th Edition!
Wednesday, July 29, 2009
Join the Intel(R) Parallel Program and Multi-Core Club
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Tuesday, July 28, 2009
Michael Jackson lived like king but died awash in $400 mn debt
LOS ANGELES: Michael Jackson the singer was also Michael Jackson the billion-dollar business.
Yet after selling more than 61 million albums in the US and having a decade-long attraction open at Disney theme parks, the ``King of Pop'' died on Thursday at age 50 reportedly awash in about $400 million in debt, on the cusp of a final comeback after well over a decade of scandal.
The moonwalking pop star drove the growth of music videos, vaulting cable channel MTV into the popular mainstream after its launch in 1981. His 1982 hit ``Thriller,'' still the second best-selling US album of all time, spawned a John Landis-directed music video that MTV played every hour on the hour.
"The ratings were three or four times what they were normally every time the video came on," said Judy McGrath, the chairman and CEO of Viacom Inc's MTV Networks. ``He was inextricably tied to the so-called MTV generation."
Five years later, "Bad" sold 22 million copies. In 1991, he signed a $65 million recording deal with Sony.
Jackson was so popular that The Walt Disney Co hitched its wagon to his star in 1986, opening a 3-D movie at its parks called ``Captain EO,'' executive produced by George Lucas and directed by Francis Ford Coppola. The last attraction in Paris closed 12 years later.
One of Jackson's shrewdest deals at the height of his fame in 1985 was the $47.5 million acquisition of ATV Music, which owned the copyright to songs written by the Beatles' John Lennon and Paul McCartney. The catalog provided Jackson a steady stream of income and the ability to afford a lavish lifestyle.
He bought the sprawling Neverland ranch in 1988 for $14.6 million, a fantasy-like 2,500-acre property nestled in the hills of Santa Barbara County's wine country. But the bombshell hit in 1993 when he was accused of molesting a 13-year-old boy.
``That kind of represents the beginning of the walk down a tragic path, financially, emotionally, spiritually, psychologically, legally,'' said Michael Levine, his publicist at the time. He settled with the boy's family, but other accounts of his alleged pedophilia began to emerge.
When he ran into further financial problems, he agreed to a deal with Sony in 1995 to merge ATV with Sony's library of songs and sold Sony music publishing rights for $95 million. Then in 2001, he used his half of the ATV assets as collateral to secure $200 million in loans from Bank of America.
As his financial problems continued, Jackson began to borrow large sums of money, according to a 2002 lawsuit by Union Finance & Investment Corp that sought $12 million in unpaid fees and expenses.
In 2003, Jackson was arrested on charges that he molested another 13-year-old boy. The 2005 trial, which ultimately ended in an acquittal, brought to light more details of Jackson's strained finances.
One forensic accountant testified that the singer had an ``ongoing cash crisis'' and was spending $20 million to $30 million more per year than he earned.
In March of last year, the singer faced foreclosure on Neverland. He also repeatedly failed to make mortgage payments on a house in Los Angeles that had been used for years by his family.
In addition, Jackson was forced to defend himself against a slew of lawsuits in recent years, including a $7 million claim from Sheik Abdulla bin Hamad Al Khalifa, the second son of the king of Bahrain.
Memorabilia auctions were frequently announced but became the subject of legal wrangling and were often canceled.
Time and again, however, Jackson found a way to wring cash out of high-value assets, borrowing tens of millions at a time or leaning on wealthy friends for advice, if not for money. Al Khalifa, 33, took Jackson under his wing after his acquittal, moving him to the small Gulf estate and showering him with money.
In his lawsuit, Al Khalifa claimed he gave Jackson millions of dollars to help shore up his finances, cut an album, write an autobiography and subsidize his lifestyle, including more than $300,000 for a ``motivational guru.'' The lawsuit was settled last year for an undisclosed amount. Neither the album nor book was ever produced.
Another wealthy benefactor came to Jackson's aid last year as he faced the prospect of losing Neverland in a public auction.
Billionaire Thomas Barrack, chairman and CEO of Los Angeles-based real estate investment firm Colony Capital LLC, agreed to bail out the singer and set up a joint venture with Jackson that took ownership of the vast estate. Barrack was unavailable for comment Thursday, but referred to the singer in a statement as a ``gentle, talented and compassionate man.''
A final piece of the financial jigsaw puzzle fell into place in March, when billionaire Philip Anschutz' concert promotion company AEG Live announced it would promote 50 shows in London's O2 arena. Tickets sold out, and the first show of the ``This is It'' tour was set for July 8.
Jackson, who has won 13 Grammys, hadn't toured since 1997. His last studio album, ``Invincible,'' was released in 2001. But the opening date was later postponed to July 13 and some shows moved back to March 2010, fueling speculation that Jackson was suffering from health ailments that could curtail his comeback bid.
His death, caused by cardiac arrest according to his brother Jermaine, raised the question whether an insurer would refund money to ticketholders. AEG Live did not immediately respond to requests for comment.
Jackson was practicing for the concert in Los Angeles at the Staples Center with Kenny Ortega, a choreographer and director of the ``High School Musical'' movies, who has worked on previous Jackson videos like ``Dangerous'' in 1993. ``We had a 25-year friendship. This is all too much to comprehend,'' Ortega said in a statement. ``This was the world's greatest performer and the world will miss him.''
Monday, July 27, 2009
Importance of Games in Life ?
Games have been a part of everyone’s life, be it children, adults or even the senior citizens. There is a growing trend of electronic games amongst people. With the growth of technology, new games have come in the market and also available at affordable prices. R4 DS and R4 Dsi are the innovative and thrilling cartridges for the video games which are offered by the reputed company. The latest is the R4 DS. It is with the introduction of the flash cartridge technology which is very to use and is handled with the Nintendo Dsi games. The R4 series has not a member like the R4i adapter.
The R4i which is the latest invention holds the topmost place. The R4i is a component of the R4 range and it is the handheld device which is used with the recent edition of the Nintendo Dsi games. The R4i Dsi offers good memory SDHC and has better functions and benefits than the previous versions of the R4 range adaptors. The various benefits provided by the R4i cards is that you can watch pictures, listen to music, play any specific composition, browse pictures, read e-books etc. There are other notable features of the R4i adaptor.
Knowing and using R4 or R4i cards though seems to look easy, it is necessary to have thorough information about it as most of the companies or online stores don’t give any trial period and the R4i Dsi cannot be returned back for a full refund unless it is checked by the R4 technician and found to have faults. You can buy the DS R4 or Dsi R4 cartridges from a nearby electronic store or simply log on to a website and purchase it online. Buying these R4 cards online is very easy. You might even get good discounts and buy it at a much lesser price then it is available on the market.
The R4i which is the latest invention holds the topmost place. The R4i is a component of the R4 range and it is the handheld device which is used with the recent edition of the Nintendo Dsi games. The R4i Dsi offers good memory SDHC and has better functions and benefits than the previous versions of the R4 range adaptors. The various benefits provided by the R4i cards is that you can watch pictures, listen to music, play any specific composition, browse pictures, read e-books etc. There are other notable features of the R4i adaptor.
Knowing and using R4 or R4i cards though seems to look easy, it is necessary to have thorough information about it as most of the companies or online stores don’t give any trial period and the R4i Dsi cannot be returned back for a full refund unless it is checked by the R4 technician and found to have faults. You can buy the DS R4 or Dsi R4 cartridges from a nearby electronic store or simply log on to a website and purchase it online. Buying these R4 cards online is very easy. You might even get good discounts and buy it at a much lesser price then it is available on the market.
The Acme of Engineering
Engineering started thousands of years ago when human beings found better ways of living through the use of contemporary technologies. Life as we know started billions of years ago. Life is the most advanced piece of machinery. Maintaining life is the acme of engineering. The most sophisticated engineering involves curing diseases with precision.
Engineering is based on mathematical models capable of creating machines, devices, bridges, processes, and infrastructures that can stand predictable, and sometimes unpredictable calamities. A car designed for safety, virtually guarantees the protection of the driver, and the passengers in case of a crash. Engineering design of the car also helps restore it back to shape, if recoverable, after the crash. Engineering is not fire fighting after the fire starts and rages its powers. Engineering starts quite early in predicting the conditions under which a fire can start. It also provides the specific procedures required to contain the fire based on its course.
In the absence of engineering, everything becomes a trial and error process. Thousands of years back, Roman civilization showed the first evidence of engineering when it could create plumbing based water channels to supply its cities with fresh water and to dispose the sewage. It was a paragon in civil engineering without the use of electricity.
Human cell are the most sophisticated and complicated machines. Billion of years ago a single cell reproduced and mutated into complex life forms. The most important terrestrial life form – the human beings, is also the most advanced and complex machine. The Human body comprises of electrical, mechanical, and chemical engineering. Billions of cells communicate with each other to maintain thousands of biochemical processes.
In recent days, engineers have decided to model the human body and approach curing of disease with mathematical modeling. It is the process of predicting a disease before it happens. Also, when it happens, engineers are able to pin point the drug delivery systems to cure the disease and bring comfort to the patient. In the absence of engineering, the medical doctors do exactly what primitive human beings used to do; thousands of years back to make both ends meet – the process of trial and error. With the help of engineering, drugs are designed for optimal efficacy. They are targeted to the right cells at the right time. Even stem cells from ones bone marrow can be used to create healthy cells for a specific part of the body. The results are astounding.
An ideal example is breast cancer. It takes one cell to go wrong to start the cancer process. Unfortunately, it takes seven years before the cancerous growth is detected. After that it is just fire fighting with a water hose. Engineers are now able to model human bodies mathematically to predict breast cancer in an individual. Contemporary technologies will soon allow delivery of preventive drugs targeted to certain specific cells before cancer can go into metastases, which is equivalent to the wild fires. If cancer cells can be neutralized at their inception than million of lives can be saved.
Targeted drug delivery, mathematical modeling of biochemical pathways in human bodies, and analysis of cell dynamics are the basis of biomedical engineering. It is helping in providing defense against diabetes, multiple scoliosis, Alzheimer disease, and more. The bioengineering principles model human bodies with the precision of mathematics, predict abnormal behaviors, and provide cures. Medical doctors now use bioengineering techniques to cure patients and provide fast relief to them.
Interestingly, many medical schools have decided that from year 2012, they will admit primarily biomedical engineering undergraduates in their MD program. That manifests the success of bioengineering in curing diseases. Still the technology is in its infancy, but better days are ahead of us when we can maintain our bodies with precision, and sophistication of engineering. Perhaps, engineering is aiming the acme of its accomplishments.
Engineering is based on mathematical models capable of creating machines, devices, bridges, processes, and infrastructures that can stand predictable, and sometimes unpredictable calamities. A car designed for safety, virtually guarantees the protection of the driver, and the passengers in case of a crash. Engineering design of the car also helps restore it back to shape, if recoverable, after the crash. Engineering is not fire fighting after the fire starts and rages its powers. Engineering starts quite early in predicting the conditions under which a fire can start. It also provides the specific procedures required to contain the fire based on its course.
In the absence of engineering, everything becomes a trial and error process. Thousands of years back, Roman civilization showed the first evidence of engineering when it could create plumbing based water channels to supply its cities with fresh water and to dispose the sewage. It was a paragon in civil engineering without the use of electricity.
Human cell are the most sophisticated and complicated machines. Billion of years ago a single cell reproduced and mutated into complex life forms. The most important terrestrial life form – the human beings, is also the most advanced and complex machine. The Human body comprises of electrical, mechanical, and chemical engineering. Billions of cells communicate with each other to maintain thousands of biochemical processes.
In recent days, engineers have decided to model the human body and approach curing of disease with mathematical modeling. It is the process of predicting a disease before it happens. Also, when it happens, engineers are able to pin point the drug delivery systems to cure the disease and bring comfort to the patient. In the absence of engineering, the medical doctors do exactly what primitive human beings used to do; thousands of years back to make both ends meet – the process of trial and error. With the help of engineering, drugs are designed for optimal efficacy. They are targeted to the right cells at the right time. Even stem cells from ones bone marrow can be used to create healthy cells for a specific part of the body. The results are astounding.
An ideal example is breast cancer. It takes one cell to go wrong to start the cancer process. Unfortunately, it takes seven years before the cancerous growth is detected. After that it is just fire fighting with a water hose. Engineers are now able to model human bodies mathematically to predict breast cancer in an individual. Contemporary technologies will soon allow delivery of preventive drugs targeted to certain specific cells before cancer can go into metastases, which is equivalent to the wild fires. If cancer cells can be neutralized at their inception than million of lives can be saved.
Targeted drug delivery, mathematical modeling of biochemical pathways in human bodies, and analysis of cell dynamics are the basis of biomedical engineering. It is helping in providing defense against diabetes, multiple scoliosis, Alzheimer disease, and more. The bioengineering principles model human bodies with the precision of mathematics, predict abnormal behaviors, and provide cures. Medical doctors now use bioengineering techniques to cure patients and provide fast relief to them.
Interestingly, many medical schools have decided that from year 2012, they will admit primarily biomedical engineering undergraduates in their MD program. That manifests the success of bioengineering in curing diseases. Still the technology is in its infancy, but better days are ahead of us when we can maintain our bodies with precision, and sophistication of engineering. Perhaps, engineering is aiming the acme of its accomplishments.
When there are no more IP addresses
CHENNAI: The ‘dotcom’ industry, which has evolved gracefully into an indispensable business channel in emerging economies after its boom and bust
phase, may be at yet another cross roads at the start of this decade. The reason is that the unique IP addresses allotted to websites are peaking at a number of 4 billion globally, and at just 3 million in India. The IPV4 standard of addressing can accommodate only a finite number of IP addresse, which are estimated to be exhausted by 2011-12.
An IP (internet protocol) address, otherwise known as web address, is the unique identification number given to each web space allocated to a particular individual or corporation. The international standard of addressing for this is IPV4 (internet protocol version 4), which allows a finite number of addresses only.
Taking stock of the situation, an alternate system of addressing named IPV6 has been under development for over a decade now. This system is structured in such a way that it allows infinite number of URLs to be allocated. However, despite a clear indication of exhaustion of IP addresses under IPV4, IPV6 deployment remains below 1% globally and near zero in India.
In fact, Sify is the only web service provider which has converted to IPV6 in India, apart from research networks. “Web clients, servers and internet service providers (ISPs) will much rather look at deployment of alternate technologies to circumvent the addressing problem than attempt a complete overhaul of standards,” said Verisign India vice president Shekhar Kirani. “IPV6 deployment stands at a mere 0.45% in the US and 0.24% in China.”
Incidentally, China beat the United States in the amount of web traffic it attracts in Q1 of 2009-10, at 27.59% of global traffic, compared to US’ 22.15%. The growth in traffic YoY has been at 43% from 19.3% last year, whereas US’ has fallen by a marginal 7% from 22.85%.
“It is clear that it is in emerging economies that the IP address crunch will be felt direly,” said Sify Technologies global infrastructure operations VP P K Saji. “67% of the world’s IP addresses have been allocated to the US, 17% to the US and only 9% to Asia. But, it is in Asia that the demand for IP addresses has grown rapidly in the past year.”
The Indian government’s outlay on e-governance alone is estimated to be Rs.23000 crore till 2011. “According to data from banks, 20% of financial transactions done in this country are done online, and this number is expected to hit 30% by the end of this year,” Mr.Saji said. “But, India has just 0.0006 addresses per person, while the US has 9 addresses per person.”
At a recent forum on IPV6 held by the government of India’s telecom engineering centre, it was concluded that all e-governance projects will have to be IPV6 enabled. Mr.Kirani considers IPV6 penetration highly unlikely as it involves a change in ISP infrastructure, network architecture and web design on a concerted effort. “If it doesn’t happen simultaneously there will be issues with interoperability,” he said.
But, Mr.Saji suggests a solution – a dual stack adapter fit to the web server. “Our site uses that adapter and so, can communicate with IPV4 as
well as IPV6 infrastructure. For every enterprise to do that, it means a mere 20-25% increase in their network infrastructure cost, which is only 10% of their IT costs,” he said.
US-based Akamai Technologies director David Belson said, “As a nation with a developing telecommunications infrastructure, there is enormous potential for IPv6 in India. Because of the vast number of IP addresses available with IPv6, it is possible to assign IP addresses to nearly any device and connect them to the Internet. This can have a significant impact in areas such as agriculture, shipping, retail, entertainment, communications, and utilities.”
Presently, there are said to be 10^36 IP addresses available under IPV6, of which Sify has managed to obtain 0.7 trillion from ICANN (Internet Corporation for Assigned Names and Numbers), the international body for IP address allocation. “There are 6.1 billion people in the world. IPV4 falls short of them by 2 billion, while IPV6 exceeds them exponentially!” Mr.Saji said.
Ironically, the operating system which was supposed to put a computer on every desk at every home – Windows, is one of the challenges for IPV6 deployment. “While Mac is 2.4% compatible to IPV6, Windows is only 0.32% compatible,” Mr.Kirani said.
In this state of affairs, it is inevitable that markets would arise for IPv4 addresses that have become a scarcer resource, Mr.Belson feels. Mr.Saji said, “Instead of enterprises squeezing whatever efficiency is possible from IPV4 through LAN networks, it makes sense to shift to shift to IPV6, for by April 2012, when there are no more IPV4 addresses to be allotted, it will be inevitable.”
phase, may be at yet another cross roads at the start of this decade. The reason is that the unique IP addresses allotted to websites are peaking at a number of 4 billion globally, and at just 3 million in India. The IPV4 standard of addressing can accommodate only a finite number of IP addresse, which are estimated to be exhausted by 2011-12.
An IP (internet protocol) address, otherwise known as web address, is the unique identification number given to each web space allocated to a particular individual or corporation. The international standard of addressing for this is IPV4 (internet protocol version 4), which allows a finite number of addresses only.
Taking stock of the situation, an alternate system of addressing named IPV6 has been under development for over a decade now. This system is structured in such a way that it allows infinite number of URLs to be allocated. However, despite a clear indication of exhaustion of IP addresses under IPV4, IPV6 deployment remains below 1% globally and near zero in India.
In fact, Sify is the only web service provider which has converted to IPV6 in India, apart from research networks. “Web clients, servers and internet service providers (ISPs) will much rather look at deployment of alternate technologies to circumvent the addressing problem than attempt a complete overhaul of standards,” said Verisign India vice president Shekhar Kirani. “IPV6 deployment stands at a mere 0.45% in the US and 0.24% in China.”
Incidentally, China beat the United States in the amount of web traffic it attracts in Q1 of 2009-10, at 27.59% of global traffic, compared to US’ 22.15%. The growth in traffic YoY has been at 43% from 19.3% last year, whereas US’ has fallen by a marginal 7% from 22.85%.
“It is clear that it is in emerging economies that the IP address crunch will be felt direly,” said Sify Technologies global infrastructure operations VP P K Saji. “67% of the world’s IP addresses have been allocated to the US, 17% to the US and only 9% to Asia. But, it is in Asia that the demand for IP addresses has grown rapidly in the past year.”
The Indian government’s outlay on e-governance alone is estimated to be Rs.23000 crore till 2011. “According to data from banks, 20% of financial transactions done in this country are done online, and this number is expected to hit 30% by the end of this year,” Mr.Saji said. “But, India has just 0.0006 addresses per person, while the US has 9 addresses per person.”
At a recent forum on IPV6 held by the government of India’s telecom engineering centre, it was concluded that all e-governance projects will have to be IPV6 enabled. Mr.Kirani considers IPV6 penetration highly unlikely as it involves a change in ISP infrastructure, network architecture and web design on a concerted effort. “If it doesn’t happen simultaneously there will be issues with interoperability,” he said.
But, Mr.Saji suggests a solution – a dual stack adapter fit to the web server. “Our site uses that adapter and so, can communicate with IPV4 as
well as IPV6 infrastructure. For every enterprise to do that, it means a mere 20-25% increase in their network infrastructure cost, which is only 10% of their IT costs,” he said.
US-based Akamai Technologies director David Belson said, “As a nation with a developing telecommunications infrastructure, there is enormous potential for IPv6 in India. Because of the vast number of IP addresses available with IPv6, it is possible to assign IP addresses to nearly any device and connect them to the Internet. This can have a significant impact in areas such as agriculture, shipping, retail, entertainment, communications, and utilities.”
Presently, there are said to be 10^36 IP addresses available under IPV6, of which Sify has managed to obtain 0.7 trillion from ICANN (Internet Corporation for Assigned Names and Numbers), the international body for IP address allocation. “There are 6.1 billion people in the world. IPV4 falls short of them by 2 billion, while IPV6 exceeds them exponentially!” Mr.Saji said.
Ironically, the operating system which was supposed to put a computer on every desk at every home – Windows, is one of the challenges for IPV6 deployment. “While Mac is 2.4% compatible to IPV6, Windows is only 0.32% compatible,” Mr.Kirani said.
In this state of affairs, it is inevitable that markets would arise for IPv4 addresses that have become a scarcer resource, Mr.Belson feels. Mr.Saji said, “Instead of enterprises squeezing whatever efficiency is possible from IPV4 through LAN networks, it makes sense to shift to shift to IPV6, for by April 2012, when there are no more IPV4 addresses to be allotted, it will be inevitable.”
Refund Rs 600 cr: Maytas to Satyam
HYDERABAD: Is a battle brewing between the B Teja Rajupromoted Maytas Infra, the Rama Raju Jr-promoted Maytas Properties and the now
Newly appointed additional directors O P Vaish and Ved Jain
Mahindra-controlled Satyam?
In a surefire indicator that Maytas and Satyam are headed on a collision course, the government-controlled Maytas Infra board has declared that Rs 380 crore worth of inter-corporate deposits (ICDs) had found their way to Satyam accounts. ( Watch )
What’s more, another Rs 220 crore is learnt to have wound its way into Satyam accounts from Maytas Properties. Now both these companies are seeking a refund from Satyam, in which Tech Mahindra has recently upped its stake to 42.7%.
Divulging this on Saturday after the Matyas Infra board meeting here, Ved Jain, government-appointed director on board of both Maytas Infra and Maytas Properties, said: “We have found that the entire ICDs of Rs 380 crore have gone out of Maytas Infra to 14 or 15 Maytas Infra-controlled private companies and from there to Satyam bank accounts. Another Rs 220 crore from Maytas Properties has gone into Satyam accounts.”
While the government-controlled Maytas board had recently declared its intention to resort to legal action, if need be, to recover these ICDs, Jain said they had the documentary evidence to support their claims. “We are now asking for a refund. We have evidence to prove the money ended up in Satyam bank accounts as the payments were made through account payee cheques. We are sending the proof to Satyam. Legal opinion says the money is recoverable,” said Jain.
In what can be best described as half-a-press conference, even as government-appointed directors K Ramalingam, Anil Agarwal and Ved Jain made announcements and fielded questions, Maytas Infra promoter and vice-chairman B Teja Raju and other directors were conspicuous by their absence.
Skirting the issue of registrar of companies (RoC)’s allegations that the company’s figures were fudged, the directors said they were not privy to the report as the matter was between RoC and MCA.
Meanwhile, government-appointed Maytas Infra chairman K Ramalingam claimed the company had raked in Rs 224 crore in revenues during the April-June period. “After the Satyam fiasco, the company had no revenues for three months. It is now in the revival mode with an order book of over Rs 7,500 crore,” he said.
Newly appointed additional directors O P Vaish and Ved Jain
Mahindra-controlled Satyam?
In a surefire indicator that Maytas and Satyam are headed on a collision course, the government-controlled Maytas Infra board has declared that Rs 380 crore worth of inter-corporate deposits (ICDs) had found their way to Satyam accounts. ( Watch )
What’s more, another Rs 220 crore is learnt to have wound its way into Satyam accounts from Maytas Properties. Now both these companies are seeking a refund from Satyam, in which Tech Mahindra has recently upped its stake to 42.7%.
Divulging this on Saturday after the Matyas Infra board meeting here, Ved Jain, government-appointed director on board of both Maytas Infra and Maytas Properties, said: “We have found that the entire ICDs of Rs 380 crore have gone out of Maytas Infra to 14 or 15 Maytas Infra-controlled private companies and from there to Satyam bank accounts. Another Rs 220 crore from Maytas Properties has gone into Satyam accounts.”
While the government-controlled Maytas board had recently declared its intention to resort to legal action, if need be, to recover these ICDs, Jain said they had the documentary evidence to support their claims. “We are now asking for a refund. We have evidence to prove the money ended up in Satyam bank accounts as the payments were made through account payee cheques. We are sending the proof to Satyam. Legal opinion says the money is recoverable,” said Jain.
In what can be best described as half-a-press conference, even as government-appointed directors K Ramalingam, Anil Agarwal and Ved Jain made announcements and fielded questions, Maytas Infra promoter and vice-chairman B Teja Raju and other directors were conspicuous by their absence.
Skirting the issue of registrar of companies (RoC)’s allegations that the company’s figures were fudged, the directors said they were not privy to the report as the matter was between RoC and MCA.
Meanwhile, government-appointed Maytas Infra chairman K Ramalingam claimed the company had raked in Rs 224 crore in revenues during the April-June period. “After the Satyam fiasco, the company had no revenues for three months. It is now in the revival mode with an order book of over Rs 7,500 crore,” he said.
Recession-hit Bangalore techies settle for low-paying jobs
BANGALORE: Till a few months ago, IT professional T V George was earning Rs 70,000 per month, plus perks. But after losing his high-paying job,Jobs Coming to terms with lay-off |Crisis time: Keep staff motivated |Pink slip blues |Job-cuts: A blessing in disguise |Cope with recession and being unemployed for three months, George, 31, has started giving tuitions in mathematics and physics to aspiring engineering students in his neighbourhood.
"Now, I am earning Rs 15,000 per month. It's been hard. I got married only a few months before losing my job. So, when I lost my job, I was in a difficult position. Thankfully, I had some savings. With the savings, I am paying my rent and for a few other necessities," George, who was employed with a top US IT company, said.
"After losing my job, I tried my best to get a new job. But I remained unlucky. So to help run my home, I decided to give coaching classes to aspiring engineering students."
George is not alone. Recession has hit the IT sector in Bangalore, with scores of techies losing their jobs. Some have been forced to take up low-paying jobs as they wait to bounce back when the recession ends.
Dipankar Dutta, 27, working with an Indian IT company as software engineer
, lost his job almost eight months ago.
Today he has a job, but as a content writer in a tech firm.
"Thankfully, writing has been my forte. So, I landed this job of a content writer. Otherwise I would have been in a soup. Since I cannot afford to stay in Bangalore without a job, I compromised and settled for the new job with a much lower pay package," said Dutta.
Scores of IT and ITES professionals in Bangalore have lost their jobs in recent times, an effect of the global economic meltdown. But there is no precise count of the numbers.
According to the latest employment and business outlook report by Bangalore-based staffing firm Teamlease, at 23 percent the attrition rate in this city is higher than in any other city in India.
The report was based on interviews with HR heads, CEOs and senior executives of 495 companies in Bangalore, Chennai, Hyderabad, Kolkata and Pune.
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