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Business, Entertainment, Finance, Public Issues

BP Oil Spill: Why even $20 billion isn’t enough?

BP has made a blunder. No doubt about that! So we shall not even discuss it here. Is only BP responsible? We shall also not discuss it here. Now that BP has agreed to pay $20 billion in payments to the US Government, the main question which people are asking is …. whether $20 billion are enough? Here are some arguments why they are probably not!

  • Tourism Industry in the Gulf of Mexico: According to CNN, tourism is about 46% of the Gulf economy i.e. over $100 billion! Has the spill destroyed the tourism industry? Yes, No, Maybe? If ‘maybe’ then till what extent and how much will the loss be? The state governments are saying that the beaches are not closed but will this save the tourism industry? With photographs of wildlife soaked in crude all over the internet, will anyone realistically go to the gulf for tourism? State tourism departments are saying that they are getting cancellations as far as 3 months out. Cancellation rates are being said to be around 50%. If we do back of the envelope calculations and assume 6 months of tourism disruption and 50%  cancellations then it give us $25 billion of tourism revenue lost!
  • Unemployment: In a state with 12% unemployement (according to CNN) the after effects of the spill will likely cause more layoffs. With a major overhaul of oil & gas industry and decline in tourism industry, unemployment will spike. This can have major impact on the society near the gulf and can cause various problems. Ofcourse Government will have to take care of the situation but the costs will be very high.
  • Real Estate Decline: A natural follow-up of this has to be another shake-up in the real estate valuations around the gulf. Just when US is recovering from 2008 recession, this is not something that anyone will look forward to.
  • Clean-Up Costs: Exxon Valdrez spill occurred in 1989 near Alaska and it was an oil tanker leak! According to Exxon they spent over $2 billion in clean up costs. Looking at the scale of current oil spill plus adjusting for inflation, this will amount to atleast $5-8 billion.
  • Wildlife Loss: One of the biggest losses caused by this oil spill is loss of wildlife and natural environment. This loss is invaluable and just can’t be measured. The loss of fishes, birds, vegetation and ecological balance cannot be brought back by money! If we can just learn a lesson from this tragedy of not taking nature for granted then it would be a small step towards redemption.
  • Oil & Gas Loss: The spill will probably cause stoppage of drilling in deep sea water! This is a good step for all of us in the long term, however in short term it probably means supply shortage and higher oil prices. Because of  negligence of one company, some poor soul will have to pay extra for travel!

Ofcourse too many issues and very little explanation. Hope you enjoyed the video though.

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Business, Planning

Dubai – the Crown of the Middle East!

Burj Khalifa

In November 2009, Papers around the qorld were shouting from their front pages about the Dubai Recession:

Fears of a dangerous new phase in the economic crisis swept around the globe yesterday as traders responded to the shock announcement that a debt-laden Dubai state corporation was unable to meet its interest bill.

Recently I made a visit to Dubai to a convention called ‘MahaBiz’ – which essentially gave entrepreneurs from Maharashtra a platform to expand their business in the MENA(Middle-East-North Africa) region in general and UAE in particular. While Dubai hasn’t fully come out of recession yet, the place’s importance as an important trading spot remains unquestioned. I was visiting Dubai after 6 years and the pace at which it has changed and transformed itself is tremendous! The expenditure on infrastructure, cleanliness, order and planning for the future by Dubai has to be one of the best in the world at present.

While I fully agree that Dubai and India are completely different nations in almost all respects, I really feel that some aspects of what Dubai does should be adopted in India as well. After all, the Dubai story has really happened post 1990s.

Among many things I loved about Dubai , these are the top 3:

1. Infrastructure spend: Dubai must have spent so much on infrastructure, its almost surreal. Roads, main streets, highways, freeways, buses, metros – you name it and Dubai has it of a world-class level. Who better than someone from India to understand the importance of infrastructure. Whats more, they haven’t simply spent money, they have actually done timely implementation – they must have had 100s of Sreedharans (of Delhi metro fame) with their fold , with tremendous backing (and pressure) from the rulers.

2. Foresight – To have envisioned that Dubai could become a huge tourist spot in the 1980s was itself a masterstroke in my opinion. Everything, right from their official airline – the Emirates to the huge malls Dubai has built point to this foresight. Even now, the state has built so many highrises that for next 20 years, budding companies can easily find a place in Dubai to start their office at. In this matter, Singapore would perhaps still be catching up with Dubai.

3. Cleanliness – The city is absolutely clean. Even in the late April heat, the ubiquitous street maintenance department was quietly doing its job in Dubai. Perhaps this might not be such an important thing for someone staying in say, Europe/US, but for an Indian, the difference is marked.

Now, why do I call Dubai as a city to watch out for? For one, they have used their location and converted it to a strategic advantage. Next, as mentioned above, their infrastructure and planning is second to none. Thirdly, they have quick decision making, one significant advantage of a monarchy.

(For one, many apologies to those following strat.in for not writing for so long! I love writing here, but somehow couldn’t give proper time for strat for last 6 odd weeks. Lots has been happening around me. But I promise to be more regular from now on! For any queries related to strat.in – do write to me at siddhesh AT strat DOT in)

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Business, Entertainment, Marketing, Planning, Strategy, Technology, Web

End of an era – Floppy Disk

I saw this news article on BBC News and it got so many memories back. We all are so lucky to be witnessing technology and the world around us changing so much. It seems like yesterday when I got my first computer which had a floppy disk and a CD drive. I played so many games even on MS-DOS which were actually stored on a floppy disk! A floppy disk in which I transferred programs to school from my home PC and made my school project.

floppy

On the left there is an image of a floppy disk. The simple device stored just 1,024 kilobytes of information but was so important to people. Because at that point of time even 1,024 bytes were sufficient for transfer of information but now even gigabytes don’t suffice.The first floppy disk was introduced by IBM in 1971 and it used to be read-only! After 40 years the floppy disk comes to an end and it sure seems like a new era is beginning.

CDusb-flash-driveSome of the devices which have replaced the floppy disk are CDs and USB drives. Two of the main reasons why these devices became so much more popular are storage capacity and resistance to data damage. Of course one of the reasons for their popularity was the ability to transfer movies and music. Next came DVDs and transportable HDDs and now Blu-Ray Discs. With each generation of storage we get more capacity to store information in smaller space.

ipodIt seems ironical that the company which started the slow death of Floppy Drives is the company which probably will take the storage industry to the next level – Apple! Apple was the first company which in 1998 stopped having floppy drives in its computers. Slowly Dell (2003), PC World (2007) and now Sony have also stopped providing it. iPod and iPhone store your music, your movies and a lot of your information. It also works like a hard disk and you can store everything you want on it, making all other forms of storage obsolete! Where will technology take us next? Only time will tell.

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Entrepreneurship, Finance, Human Resources, Planning, Politics

Losing the ‘Education’ edge

As some of my batch mates went from IITs to MITs and other US Universities around the world, the number of publications in their resumes started to increase at an exponential speed. To me this phenomenon really did not make a lot of sense as how can a student or his research change within a couple of months to take their number of publications from non-existent (in IIT years) to innumerable (in US Universities). The simple answer I got from my friends was funding and resources available. Ofcourse IITs being one of the best institutes in the world in terms of students still lack the resources for producing world class research.

I have always considered US Universities as one of the biggest assets of US Economy. The funding and prestige of these universities brings most of the world’s students pursuing PhDs into states and once they are in US they never leave. In turn these students do research which helps US and also start companies which get US billions in taxes. An example is when a macbook is made in China and sold anywhere in the world, the major portion of the cost is divided by US and China (China for manufacturing and US for designing) and in turn China’s contribution can move to any other country where a factory exists but US contribution is permanent simply because Apple designed this in US and is based out of California.

The research and intellectual properties created by US University graduates can probably be considered the single most important reason for making US the superpower it is today. So when I read this article in NYTimes regarding how the US is cutting funding to University of California at Berkeley, I was kinda astonished. Afterall no one should step on their competitive edge and most of all US should not do this. I guess for countries like India and China it might be a little positive as the much hyped brain drain might get a sudden stop from this. Ofcourse the world, innumerable students and research will face a bad consequence. I hope the problem gets solved but well lets see!

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Business, Finance

Steel – Made in China??

With every passing day I think when the recession will take back its curse. When will the potential candidates get employed without having to behave like beggars on street – those who spent huge amount of money to enhance their skills and knowledge so as to beat the other competitors fighting for the same positions?

A small example of how the clubs of the business schools have been affected by Sub Prime (a sneak into the club discussions in our business school):

Be it the Strategy club where we discuss which are the companies who were recession proof and what strategy they had applied to do the same or the Finance Club where we discuss the Sub-prime crisis, Lehman Bros. case, Great depression, Balance Sheet Reviews of companies etc. etc. Be it directly related to the topic or not finally we derive the Sub-prime effect on the topics.

Leaving apart these trivial issues let’s focus on the impact of the same on Global Economy.

Just a small peak in one of the most hit sectors of the world:

Infrastructure Development has been falling in countries like US and UK since the economic bubble burst in the last year. This in return is affecting the steel industry in an adverse way. The steel manufacturers are thus forced to contract their supply in the current fiscal year. We can see reduced growth prospects for the steel manufacturers all over the world. This in turn is leading to fall in steel price. Steel manufacturers are recording losses in their first quarter results. Let’s see which nation looks most prone to face the hit. In order to have a clear picture of the same let us see the steel production scenario globally in the last fiscal. The following figures are derived from Iron And Steel Statistics Bureau’s monthly reports as published in the month August 2009. The five main steel producing countries of the Far East showed varying production with both China and India showing an increase.

1. China’s June steel production showed an increase of 6% to 49.4 million tonnes which contribute to 49.5% of the world’s total steel production.

2. Crude steel production in Japan declined by a third in June with the year to date total down 40.7% to 36.7 million tonnes.

3. India has now become the third largest steel producing country in the world with June production up 5.7%, bringing the year to date total to 27.6 million tonnes, an increase of 1.3%.

4. South Korean steel production was down 14.4% in June, and by 17.3% in the year to date to 22.8 million tonnes.

5. Taiwanese production decreased by 29.5% in June and by 39% in the six months to 6.6 million tonnes. Australian crude steel production dropped by 52% in the first six months to 1.9 million tonnes.

An overview on the past steel production dips:

The biggest fall in demand over one year for the steel industry since the end of the Second World War was the 8.7 per cent drop in 1982, towards the end of a downturn in global industry. That was the third consecutive year in which steel industry output fell. There have been only three occasions since 1900 when output has declined for three years in a row. Similar slump periods for the industry were 1930-32, 1944-46 and 1990-92. Production of crude steel for the countries reporting to the World Steel Association in June 2009 was estimated to be 99.8 million tonnes, a decrease of 16% over June 2008. China accounted for almost half of the global production of steel in 2009, the year to date total fell by 35%. All regions showed a drop in both June and the year to date totals except for that of Middle East. On the other hand if we compare the steel production contraction we will see a decline in the contraction rate.

China followed by India is seen to be the most sensitive in this sector at this point of time. This can be very well validated by the first news I came through in the newspaper on the morning of 28th August:

DEMAND SLUMP HITS TATA STEEL Q1 NET

The company recorded a consolidated loss of Rs. 2209 Crores in the first quarter of the fiscal. If you carefully see the balance sheet of the Company for the quarter ended June 2009 we will see Raw Material cost contributing 38% of the total expense of Tata Steel Ltd. alone and when we look at the consolidated Balance Sheet it is around 29% of the total expense. The consolidated figure gives us the raw material contribution to the business of both Tata Steel Ltd. and Corus. So if we try to arrive at the percentage that Raw material contributes to only Corus it will be around 20%. This means that the rotation of stock is very low due to fall in demand for the finished product in Tata Steel. Even though you say it might be the distance coverage expense that is high in case of Tata Steel while procuring raw materials I would say it can’t throw up such a high difference.

Mr. Laxmi Narayan Mittal is still optimistic about the growth in steel sector in the current fiscal.

(This article is by our guest-strater, Kaushambi Ghosh. Kaushambi is a student at Praxis Business School. We thank Kaushambi for the article and look forward to further articles.)

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Business, Entertainment, Marketing, Planning, Strategy

Hollywood – One Industry to rule them all

Hollywood based out of California in US is one of the biggest industries in the world. Entertainment sector around the world is controlled more by Hollywood movies than anything else in the world. To throw some numbers at you, Hollywood ticket sales in US in 2007 brought in $9.7 billion, and $100 million opening weekends are quite common in this industry. The Hollywood movie industry is so popular that all around the world people buy magazines and read tabloids to find out about the stars, television is full of it and a good part of the world revolved around it. harry_potter_and_the_half-blood_prince

But have we ever tried to understand why Hollywood became so big? Ofcourse the glamour and entertainment factors apart, the strategy has also played a major role in it. Hollywood has and will always be an all encompassing industry which absorbs every entertainment sector into it and starts churning money out of it! I will try and explain this argument below.

Novels: Novels can be considered one of the first form of entertainment for mankind. People have been and will always remain addicted to books. The book publishing industry is huge and amazing but Hollywood has even absorbed this into itself. Lord of the Rings, Da Vinci Code, Harry Potter and other innumerable successful books have been converted into multi-million grosser movies by Hollywood. The industry takes what is available and grows it many times in magnitude!

xmenComics: Now this is something we do not even have to discuss! Most of the blockbusters in the past few years have been comic strips, including Wolverine and X-Men Series, Transformers, Batman, Spiderman, Superman, Ironman and many many such movies. The whole point being that the comic industry started for the entertainment of masses, the characters became popular and then Hollywood took up these characters and made millions from them. The industry again absorbs and creates.

sex_and_the_cityTelevision Series: The league of tv series and hollywood is quite different, yet every successful serial usually becomes a movie for sure. One of the latest examples can be Sex & the City. Past examples are StarTrek, X-Files and I am sure there will be many many more. Television series run only through advertisements while movies are a completely different ball game. The simple concept seems to be to absorb anything which people like and would be willing to pay the ticket price for and convert it into a movie! The television series stars and producers will only be happy to leave dependence on advertisements and get a chance to be on the big screen.

256px-maxpayneboxVideo Games: Now this is where the movie industry becomes even doubly interesting. Most successful movies take out games and make lots of money from it, examples are innumerable – Star Wars, Spiderman, Lord of the Rings, amongst others. But the tables have been reversed when a movie was made out of a game! Max Payne an enormously popular third person shooter game was converted into a movie and even made a good amount of money. Just absorbing the concept and converting into a movie and making money.

Music Industry: Though the movie industry does not have any story plot for Hollywood but music artists rarely stay away from another chance at glory. Jeniffer Lopez, Justin Timberlake, Britney Spears, Lindsay Lohan ….. the list can go on and on. The industry absorbs the factor people are crazy for and converts it into a movie for the audiences!

I think the point to learn is how Hollywood easily absorbs anything which is popular and makes money out of it. The main method of making money in Hollywood is by selling movie tickets and this is where they strike. Hollywood targets anything people are fond of and will shell out money for and converts it into a movie. It is truly one industry to rule them all. What do you think?

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Business, IIM, Planning, Politics, Public Issues, Strategy

Divide & Rule – A strategy lesson

The history books of India will always remember this phrase, the British policy of ‘divide & rule’ led to their colonization of India and ruling it for over 200 years. So everyone who has got his education in India should actually remember this strategy and understand its importance. In simple words the ‘Divide & Rule’ strategy means breaking up a combined entity into smaller units so that it is easier to conquer them. For a more concrete definition you can visit this article on Wikipedia.

indiapakistankargilHistorically in India the divide & rule strategy worked like a wonder for the British. They were able to divide the princely estates and were able to easily conquer each of them seperately. It is believed that the creation of states in India by the British was not because of ease of management but rather to divide the people accordingly. The division of India and Pakistan is still considered by many as a final divide and rule policy (in terms of world politics).

World Politics: It is said that one should always learn from the mistakes of others because one does not live long enough. Well countries in this world do not have this problem still it seems ironic to me how India and its neighbors still do not understand from their own mistakes. If we look at the world then it is moving away from being divided. The European Union un-divided themselves by uniting all their countries, their currencies, their economies. USA in itself stands for United States of America. Moreover all the countries in the world always move for better co-operation and peace. Yet in the Indian Sub-continent we are fighting since the past 50 years over Kashmir and Eastern India (Arunachal Pradesh) and will probably continue doing that. We have not learnt from our own mistakes of getting divided and getting ruled by others!

Indian Politics: Credit must be given to Indian politicians in this regard that though they might not have passed class 10th examination in India but the way they understand ‘divide & rule’ probably scholars in India don’t. The division of Indian society by classes, caste reservations, caste based parties, religion and other innumerable artificial divisions, keeps the people haggling over petty issues ignoring the main ones, and thus keeps these corrupt politicians in power. One of the most perfect examples of divide & rule according to me.

Companies & Monopoly: I believe the only place where someone has learn from divide & rule and its after effects is the capitalist companies. Companies understand that if they divide amongst themselves, play price wars and bring the tariffs down then ultimately they lose. Thus in most industries the competitors agree to minimum pricing and do not tend to cut costs below those levels, e.g. Coke and Pepsi, most cellular operators, multiplexes to name a few. By staying united (atleast on pricing) they are able to form a sort of monopoly and avoid being ruled by the consumer!

Application in science: The strategy is so practical that even science has accepted it and developed an algorithm on it called “Divide & Conquer” (don’t know why they could not just use divide & rule). The algorithm works on dividing a bigger problem into smaller problems till the smaller problem becomes really easy to solve! I remember using the algorithm in many courses at IIT Delhi. More details about the algorithm can be found on the Wikipedia article.

The IIMs: Last but not the least I think even IIMs have not completely learn this strategy. IIMs the best business schools of India have united in the admission process and thus able to make it a strong one, but by fighting with each other over Indian B-School rankings, placements and many other issues remove the unity of the institutes. The result being that even the IIMs as b-schools are divided and are not able to make the impact that they can make by being together.

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Planning, Public Issues, Strategy

Passports – Why are they still in use?

passportFollowing my earlier post regarding that Indian Elections need technology revolution, my current post focuses on the issue of passports and how technology can be used to improve them. I believe there are many inefficiencies in this world and most of the human effort is going into solving other problems than the problems which are most important. Now According to Wikipedia,

A passport is a document, issued by a national government, which certifies, for the purpose of international travel, the identity and nationality of its holder. The elements of identity are name, date of birth, sex, and place of birth. Most often, nationality and citizenship are congruent.

The article on Wikipedia mentions a lot of details about passport. I think historically the most important developments mentioned in it are that

(1) King Henry V of England is credited with the first true invention of the passport as a means of helping his subjects prove who they were in foreign lands

(2) Early passports included a description of the passport holder. Attachment of photographs to passports began in the early decades of the twentieth century, when photography became widespread.

The first point establishes the need of a passport, the requirement to prove one’s identity. The second point proves the up-gradation of passports, by including a photograph passports easily became a better way to prove identity.

In the present world where science has done so much advancements, where even computers require fingerprint scan before logging in, where bloomberg access requires fingerprint scan, where databases require retina scans, and even dna samples are not time consuming ….. then why do we still have a paper based passport? A paper based passport which can be stolen, or torn, or burnt, an external paper needs to prove my identity rather than having my own self prove my identity. Any new technology including fingerprints, retina scan, dna, or many new technologies can be used as a passport. Also please note that passport standardization came in 1980 under Internatinal Civial Aviation Organization (ICVO) and I think it has been a fair amount of time and we can use another upgradation.

To think about it how many problems can be easily solved by up-grading passports. The problem of illegal immigration, spies, passports getting stolen, fake passports, terrorism and what not! I really do not see any major problem in adopting a new system but bureaucracy. We keep saying that companies should be efficient and non-bureaucratic but the most important organizations in the world still seem bureaucratic. Anyways till as a world decide to become more efficient, keep holding on to your passports, always scared of having it stolen, or burnt or destroyed, keep renewing your passport and keep getting stamps!

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Politics, Public Issues

Hitler: An Idol??

Bernie Ecclestone of F1 fame recently made comments that he adores Hitler. According to Bernie, dictatorships are better than democracy and help get work done faster and swifter without all the bureaucratic red tape that is involved in democracy. Later he clarified his comments that he adored Hitler only for getting things done and considers Hitler a lunatic for all the other things he did.

There was a time when I used to idolize or adore Hitler too. But that was when I was a school kid and did not have enough knowledge of all the aspects of Hitler. Hitler as a person and his atrocities were never described in detail in the textbooks. History was always a bore for everyone, and the only chapters that all students liked, were those related to wars: WWI and WW II. “युद्धस्य कथा रम्या” (War stories are interesting) goes the Sanskrit saying, and no doubt, it’s very true.

adolf-hitler1Germany was in tatters after WWI as we all know, and Hitler was responsible for its rise to strength and power by the beginning of 1939. And the first few years of WW II was all about German victories. Hitler’s war tactics, Blitz-Krieg, taking over most of Europe, was all amazing to the school kid that was me and to others too. We read in wonder Hitler’s rise and fall and everyone agreed that we needed someone like Hitler to bring India to power. The textbooks did describe the losses and how many lives were lost, but holocaust and the terrible atrocities against Jews were not described in as much a detail for me to realize what a devil the German dictator was.

As I matured and so did my friends and slowly became aware of what exactly Hitler was and what he had done, it did not take much time for the adoration to change to despise. It seems however that Mr. Bernie Ecclestone at a ripe old age of 78 has not matured yet. He says he admires Hitler’s ability to get things done. Well it’s easy to get things done when one has absolute power and there is no one who can oppose you. It’s easy when you can kill and shoot and silence the opposition. Hitler and any dictator for that matter is a wrong example to show to “get things done”.

Well some people also say that if he had not instigated the war and had not carried out the atrocities against Jews, he would have been a great leader. But the fact of the matter is that he did what he did and there is no way you can support him. He was a dictator, a cruel one, and I see no person in History who was a “good” dictator. The word dictator by itself means “a person exercising absolute power, esp. a ruler who has absolute, unrestricted control in a government without hereditary succession.” Absolute power corrupts absolutely and unfortunately, there has been no person who has been able to resist this corruption.

Democracy might have its faults. Red-tape, bureaucracy, slow decision making etc. But it is definitely better than a dictatorship. Hitler might have taken Germany from depths of despair to position of power, but it must not be forgotten that at the end he also led it again to its destruction.

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Sports

India at World T20 – What went wrong?

As a fan of Indian Cricket, it was hugely disappointing to see what happened at the World Cup. The team has failed on all fronts – batting, bowling and fielding. The team which was joint favorite at the start of the tournament along with SA has literally fallen apart in the space of 100 highly forgettable hours for Indian cricket. So, what went wrong? Here’s my take –

1. Excessive cricket – Whatever excuses maybe given by the BCCI, Lalit Modi or Dhoni, I feel the biggest reason for this debacle has to be excessive cricket. It is extremely tough for players to get to peak motivation levels after a high stakes tournament like IPL. Note – Even SA was playing cricket continuously for so many months now, infact they were playing tougher cricket than India – back to back against the Aussies. But then, they were atleast at home and have far better fitness levels than the Indians.

2. Makeshift Opener – This has been India’s problem for God-knows how many years! India had taken only 2 openers – Sehwag and Gambhir . Rohit Sharma had batted in the middle order for Deccan in the IPL. To his credit, his form itself was so brilliant that he looked menacing during the warmups, but when it came to the crunch time, Rohit was a batsman wasted at the opening slot. He simply couldn’t continue the form. Only other batsman who could have come for opening was Dhoni. But then, he wasn’t in form as well.

3. Erratic fielding – Players who were supposed to be good fielders were having torrid times in the field. Right from Raina to Yuvraj, everyone gave away runs and in a T20, even 5 runs are crucial. Remember, we lost to England only by 3 runs. Players simply didn’t care or weren’t fit enough to dive. Yuvraj, inspite of all his batting heroics, didn’t look fit on the field.

4.  Form factor – To quote Dhoni after the match,

It’s not about what you can achieve, it’s about what you do achieve. We were not really up to the mark or at 100 per cent. Our performance was not up to the international standard. There never was a time when the majority of the guys performed in one match, it was usually two bowlers in one game or three in another, with an off-day for a couple of them, or one man scored and the rest didn’t so we never performed as a unit.

Bottomline, IPL perhaps brought the foreign players into better touch than Indians, because they had to keep their place in their IPL teams with the 4 player restriction in effect.

5. The BCCI – The BCCI found this hen that lays golden eggs in IPL. However, it did not take care of its players, in the quest for money. I am sorry to say this, but I believe the BCCI and its greedy ways is as responsible for the World Cup debacle as the players themselves. They just cram in cricket, cricket and more cricket in their calendar. They keep selling those rights to TRP hungry TV channels and crush rivals like ICL, but do nothing to protect their assets – the players. But then, who gives a damm for the players? BCCI as an organisation, I am sure doesn’t look at its players as anything but agents of minting money…

Finally, to quote the fake IPL player, perhaps the Indian fans didn’t see this coming. India was too arrogant to recognise that the team simply isn’t fit enough. Had Yuvraj not played against Bangladesh, I am sure India would have lost that match as well. Now in India, the blame game will start. All those who sang paeans of Dhoni till now would ask for him to be dropped as captain, even from the side perhaps.

The saga of Indian cricket never ceases to amaze one and all, doesn’t it?

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