Columbus Magnet

Talk about India’s achievement in cricket and one cannot help mentioning the name Sachin Tendulkar, while Mukesh Ambani’s mention is inevitable when talking about India’s energy sector or Reliance’s strategic backward integration. Both are eminent personalities, who have crossed paths many a times, the most recent example being, the presence of Sachin Tendulkar at the ceremony wherein Mukesh Ambani was honored with a Dean’s Medal from the University of Pennsylvania in Mumbai. Sachin Tendulkar also happens to be a part of the cricket team ‘Mumbai Indians’, which is owned by Reliance Industries Ltd. through its wholly owned subsidiary IndiaWin Sports.

Just as Sachin Tendulkar’s contributions to the field of cricket have helped shape India’s reputation in the world of sports, so has Mukesh Ambani’s contributions to Reliance Industries and its key strategy of backward integration helped put India on the corporate map of the world. While Sachin Tendulkar has won millions of hearts with his indisputable cricket skills, Mukesh Ambani has grabbed attention for commissioning gas production from one of the world’s largest deepwater gas projects in a record of six and a half years in the Krishna-Godavari basin. Natural gas production has been commissioned from the Krishna-Godavari D6 Block in record time as against the world’s average of 9-10 years for similar facilities.

While Sachin Tendulkar completed 20 years of his career in international cricket in 2009, Mukesh Ambani was ranked as the richest man in India according to the Forbes annual rich list. 2009 was also special for the CMD of Reliance Industries as the design capacity assessment for the KG-D6 block was completed, which currently produces 60 million standard cubic metres of gas. Both the masters had an early start in their respective careers. While the ‘little master’ had an early beginning at the age of 16 in Test match cricket in 1989, Mukesh Ambani joined Reliance Group in 1981 to assist his father Dhirubhai Ambani. Sachin Tendulkar then went on to make and break numerous records including being the only player to be featured in the top 10 ICC rankings for 10 years.

Sachin Tendulkar is the only player to take 150 wickets and score more than 15,000 runs in ODIs, and to take 40 wickets and score more than 11,000 runs in Test cricket. Sachin Tendulkar is also the only batsman to have 100 hundreds to his credit in first class cricket. On the other hand Mukesh Ambani is the only Indian who can be credited for the strategic application of backward integration in business that took Reliance from textiles to into fibers, petrochemicals, petroleum refining and most recently oil and gas exploration and production. While the ‘master blaster’ has led the Indian cricket team on various occasions, Mukesh Ambani has successfully led Reliance which is now a global leader in polyester, petrochemicals and refining, and not to mention the world’s largest petroleum refinery complex at Jamnagar.

Both champions have made the nation proud on national as well as international fronts. Mukesh Ambani’s efforts and leadership was recognized by the Honorable Prime Minister Manmohan Singh when he bestowed with the first NDTV Profit Global Indian Leader award and the Economic Times’ Business Leader of the year award in 2006. He has also been honored by the Defence India Excellence Award in 2007 and the Indian of the Year Award by NDTV for his contributions towards the betterment of the nation. Sachin Tendulkar too has been honored and recognized for his achievements on the sports front by being the only cricketer to be bestowed with the Rajiv Gandhi Khel Ratna (India’s highest honor in sports), the Arjuna Award and Padma Shri by the Government of India.

Reliance Industries Limited (RIL) Chairman & Managing Director Mukesh Ambani was awarded the inaugural Dean’s Medal from the University of Pennsyvania’s Eduardo Glandt, Dean of the School of Engineering and Applied Science today.

The medal was awarded to Mr Ambani at a function here in recognition of his “visionary leadership” in the application of engineering and technology for the betterment of mankind. .

“The medal is an acknowledgement for Ambani’s ingenuity and initiative to usher in Reliance’s vertical integration journey from textiles into fibers, petrochemicals, petroleum refining and eventually oil and gas exploration and production. Today, Reliance is a global leader in polyester, petrochemicals and refining, including the world’s largest petroleum refinery complex at Jamnagar. His vision of energy security for India was realized through an aggressive exploration program which resulted in the world’s largest gas discovery in the year 2002. The field eventually doubled gas production in India,” a press release from the School said.

“Mukesh Ambani embodies what the engineering profession can contribute to a country, as someone who seeks to apply technology for the betterment of society,” Mr Glandt said.

Mr Ambani said in his acceptance speech that he would treasure this medal. “It is much more than the recognition of the modest contribution as a chemical engineer from India. It recognizes the collective achievement of the Reliance family and the creativity of over 25,000 engineers in Reliance. I dedicate this Medal to the indomitable spirit of our founder chairman, Dhirubhai Ambani and each and every member of the Reliance family,” he said.

Mr Ambani joined RIL, founded by his father Dhirubhai Ambani, in 1981 after receiving a bachelor’s degree in chemical engineering from the University of Mumbai and pursuing a master’s degree at Stanford University’s Graduate School of Business.

Among Mr Ambani’s numerous honors are the 2007 US-India Business Council “Global Vision” Award for Leadership; the 2006 “ET Business Leader of the Year” Award by the Economic Times and the first NDTV-Profit “Global Indian Leader Award” in 2006.

In 2008, Mr. Ambani was elected Vice Chairman of the Executive Committee of the World Business Council for Sustainable Development. He is a member of the Prime Minister’s Council on Trade and Industry and of the Board of Governors of the National Council of Applied Economic Research. He is also Chairman of the Board of Governors of the Indian Institute of Management, Bangalore, and a member of the Indo-US CEOs Forum, the International Advisory Board of Citigroup, the International Advisory Board of the National Board of Kuwait, and the Advisory Council for Stanford University’s Graduate School of Business, among other appointments.

The University of Pennsylvania is a world leader in higher education, drawing 10,000 undergraduates from around the world and more than 11,000 additional students enrolled in Penn’s 12 graduate and professional schools.

The School of Engineering and Applied Science at Penn is one of the oldest in the United States, established in 1852 as a School of Mines, Arts and Manufactures. It has since grown into a centre of excellence in the creation of technology, leading to the first general-purpose digital computer, ENIAC, making Penn the birthplace of the digital revolution.

Reliance Industries Ltd., today in a statement said, “We are shocked and outraged at the false, malicious, motivated and libelous news on TV5 channel concerning the fatal mishap of Shri Y. S. Rajasekhara Reddy’s helicopter. We condemn, rebut and reject the allegation with the contempt it deserves. It is the dirty handiwork of our business rivals in cohoots with TV5.”

The statement followed the accusations made by TV5 that allege RIL’s involvement with the helicopter crash of Y. S. Rajasekhara Reddy. The accusations were made by the channel citing an unsubstantiated news report from a little known website.

Following the allegations by TV5, a couple of other Telugu news channels aired the same report. The repercussion of the allegations were seen when irate Congress workers went on a rampage of damaging retail outlets of Reliance in Andhra Pradesh.

Source: http://ril.com/downloads/pdf/PR08012010.pdf

Debt consolidation: What other options are your unsecured debts linked to one monthly installment debts, and are managed by a third party. Program consolidation and negotiating interest rates with creditors, are not in arrears. This allows customers to repay the amounts owed, but at reduced rates in order to go any payment on a balance of lender fees and interest. Interest rates are reduced to a fixed rate; usually between 0-10 percent.

A reduced fee allows the balance to fall more quickly, reducing the total amount of consumer debt in an accelerated rate. 30 percent of your credit report is determined by the total owed. Another 35 percent of your credit score is affected by consecutive payments. Therefore, the consolidation plan can actually improve your credit score over time, consecutive monthly payments and faster reduction in the balance so that you get out of debt.

Talk to certified credit counselor for the free sessions, budget consolidation, credit card debt counseling and consultation. Initial counseling session with a non-profit helping to assess what your situation, your objectives and financial options best suited to you based on your particular situation.

The need for cash could sometimes be so unpredictable. This is why when the sudden need for cash causes imbalance on your budget, immediate action should be taken. A payday loan is especially made for situations that require extra cash for settling sudden financial needs. These loans can be obtained at the desired time and amount. Some online cash advance loan companies could provide up to $1,000 as long as the applicant satisfies the following requirements:
• The applicant must be over 18 years of age when he has applied for the loan
• A steady source of income (preferably a fixed monthly income)
• Currently employed
• Has an existing savings or checking account (the account will be where the loan will be deposited)

Online Lenders Fighting for Your Business
Since there are now many payday loan lenders on the Internet, these companies are doing all they can to attract clients. They come up with promotions and schemes that aim to provide what the customers are asking for. This is the reason why it is much easier to apply for a loan online nowadays. The finance market is now full of financial service companies that they would do all that they can to obtain a client’s business. The interest rate is one of the factors that most of these companies cut down just so they could get noticed—so better take a careful look here and there before actually settling for the best lending company.
Payday Loans in Layman’s Term
cash advance or payday loans are short-term loans that can provide a small amount of money for sudden financial needs. However, there are companies who can approve a loan amount of up to $1,000! It doesn’t matter to these lenders whether you are going to use the money to pay for bills or you would use it to purchase a set of make-up. As long as the requirements are fulfilled (bad credit doesn’t even deter them from approving loans!), anyone can apply for a payday loan.
As its name implies, cash advance loans are financial bridges until you get your next paycheck. This also means that the borrower will need to settle the loan by the next payday. No worries, though, as unfulfilled contracts could be renewed to yet another payday. Most people do not have any problems paying for this type of loan as the loan amounts aren’t very big.
If sudden financial emergencies occur in your life, then just go online and scout for the best payday loan lenders (a single click would show hundreds of results). This type of loan does not require much paperwork some even offer faxless cash advance and formalities. The only thing that an applicant needs to submit is an online application form which contains personal, employment and financial details.
Obtaining a loan has never been as easy as this before. With just a few clicks, you could be approved within just a few minutes and be able to withdraw money from your account in no time. Instead of worrying where to run to when a financial emergency happens, why not try applying for a cash advance loan? It has helped thousands before you so why not try it, too?

People think car leasing is non-taxable however payments made on car leasing are tax deductible. There are many types of car deals which are being provided by Contract Hire. If you wish to hire only cars then it is best to look for Contract Car Hire. One of the major disadvantages in car leasing process is maintenance. If you lease a car you have spend more money on its service. The cost which you pay for hiring is less when compared to the cost you pay for buying a car however you will end up paying more when you lease a vehicle. Vehicles are included in depreciation and this depreciation rate increases depending on the type car you own. It is always advised to check with the tax adviser to know about tax deduction process when you hire or lease a vehicle. In Business Car Leasing you will end up paying more tax when compared to Personal Car Leasing. There are many varieties of vehicles in Business Car Leasing. Make sure to look for a vehicle which gives more mileage. You can get free quote from most of the lease companies. Make sure to compare these quotes before hiring a vehicle.

Hard work is an important tool for the human to reach the developed position in their life. To reach that developed position they need to see many competitions. The mortgage industry is a very competitive in nature. More number of workers is working in this field. The toughness in the competition is depending up on the how many people participating in it. A good competitor should behave in a moral way. Mortgage Finder is daily facing the lot of problem, he need to search the clients. After finding the clients he needs to ensure whether the client is a good person or not. The attitude of the customer plays a major role for the Mortgage Brokers. If the customer is weak in the moral issue then it is again confusion for the brokers. Normally brokers should not deal with the individual persons because they also keen on touch with the high level businessmen. They have some constant commission rate for their work. Now most of the websites are providing a Free Mortgage Advice to attract the valuable customer. Even websites offering a live chat to the customer, and introduce some new Mortgage Brokers. The correct website should be chosen by the customer otherwise it will make big impact for the customer itself.

The IRA Limit will be varying with the persons based on the age and the IRA Limit values tend to be changing each and every year and it is not stable. The IRA Limit will be different for the persons who are aged forty nine and below and the IRA Limit will be different for the people who are aged fifty or above the age of the fifty. The IRA Limit Values tend to change to increase or remain the same every year. The current IRA Limit for the age group of forty nine or below is sic thousand dollars. Deductible IRA is the term which is being for availing the benefits of the tax deduction from the availed IRA.

There will be full amount of the tax deduction if there was no contribution being made to the pension which is being sponsored by the employee. The things with the Deductible IRA gets more completed if it’s found that there was some amount of the contribution which was made to the pension which is being sponsored by the employee. RMD is abbreviation of the required minimum distribution. The RMD is based on the characteristics such as the life expectancy level of the employee and also the amount of the money in the account.

Sadly, too many people believe that the successful in our society got that way through luck. So their financial plan is based not on earning and investing money, but waiting for their fairy godmother to show up.

Some “miracle” roads to riches:

The Lottery

What better way to get rich, but to play the lottery. Even though the odds are 200 million to one, somebody’s got to win – right? Why not you?

The ancillary to this is gambling. Go to Vegas or Atlantic City and blow the paycheck at the blackjack table or, even better, the roulette wheel.

Or go to the track and try to hit the trifecta.

Most gamblers will blow their winnings away sooner or later. They really aren’t in it for the money.

But lottery winners, those who get checks for millions of dollars, apparently have the same problem. I have read that the majority of lottery winners blow all that money away with five years or so.

Get Rich Quick Schemes

You get a letter in the mail or you see an ad on the internet. Just send in a few bucks or a few hundred bucks or a few thousand bucks and you too will be raking in $35,000 a week while you lounge on the beach.

Other variations are: $100 an hour stuffing envelopes; $500 an hour for filing out forms on your computer; or buying a pre-made website and sitting back while watching your bank account fill up.

Don’t forget to check out those government grants for paying off your debts.

In this case, the ones making the money are truly lucky – for finding another sucker to fall for their schemes.

Why not go down to Mexico and pick up a kilo of cocaine to sell on the streets. The markup - and your legal fees – will be tremendous.

Or give all your savings to the guy you met in the bar whose paying out a “guaranteed” 50% a month interest. You brother-in-law is in on this deal, so you know it really works.

Anybody ever heard of a guy named Ponzi?

The Government Will Take Care of Everything

There’s no such thing as a free lunch and, even though the government hands them out to anyone who asks, someone has to pay, in this case the taxpayers.

Did you know that the percentage of people not paying income taxes in the US is approaching 50%? If nobody’s paying, where does the free lunch come from? There are only so many “wealthy” taxpayers left to soak.

In New York City, the low income clients of the Housing Authority are being asked for “givebacks” in the form of higher fees. Social Security is on the ropes. The golden goose is beginning to run dry.

All government handouts come with strings attached. If the government gives you something, it will then want to tell you how to live. Are you ready for the trade-off?

Great Expectations

The long term average return of the stock market is 10% a year. However, if you do a little calculating, you see that you will never reach your goals at that rate. So you figure a 15% return.

There are many people who successfully beat that the stock market year after year. It takes a lot of work to do so. Even the pros have a hard time.

If you have acquired the learning and are willing to put in the effort, you may be able to safely make that assumption.

But don’t base your financial affairs on a simple assumption, hoping your dreams will come true through, just because you’ve been lucky all your life.

You can steal money or inherit it. Most people have to work for it and they have to work even harder to make it grow.

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Investment requires prudence. Whether the amount is small or big, you need to have complete information about the place or field where you are going to invest it. Investment is most often made with a purpose to accrue good returns in future. Investment is like a source of income where initially you put in some capital and expect it to multiply or boom in the near future. There are various types of investments nowadays and different strategies are associated with them. Investment can be in the field of property, land etc., in the stock market, in bank in the form of fixed deposits, in trusts and insurance policies.

• When you move out to invest say for instance in property, the strategy of buy for low and sale for high prevails. In the language of investment this is called the ‘arbitrage’. What you require first of all is a perfect idea of the fluctuating market. When the market value is low, make as many purchases as possible. When the market as you assessed picks up pace, sell whatever you purchased at simply double the price. This profit however is not possible without a vigilant study of the market. An investor who has scrutinized the market from top to bottom predicts the highs and lows of market and makes purchases much before the onset of the profit season.

Arbitrageurs are very smart nowadays. In order to incur huge benefits, they even go about purchasing some very archaic piece of furniture or property from a low price market, invest a few more bucks in its renovation and then sell it in an expensive market or put it up at auction on the internet.

There are times when massive investments are being made in one area, this is known as the ‘market bubble’. Take for example, if a piece of land in a specific area is inviting too many buyers and that too with unbeatable profit, there is a horde of investors to purchase land in that area and sell it for the maximum possible. Similar is the case with the stocks of a company that is giving brilliant dividends to its stock holders, if the company lowers even a single dollar on its stock, multitude of people gratify their desire to receive excellent gains later.

• Related to this is the ‘value investment’. Here the investor estimates the value of the company in the form of its returns. If a company has a good record with its shareholders and its shares are relatively at a lower price in the market, the investor will purchase maximum shares as possible since he is confident of the company’s value. The investors basically peep through what is visible in this case. Many companies only flaunt to be successful in the market but actually they have been charged with many illicit proceedings. While there are companies that make a slow and simple start and scale new heights gradually. The investors are in search of these types of companies, the ones that are not feigning to be great.
An insight into the actual situation of the company prompts the investor to make judicious investments.

• The risk factor is always lurking behind these investments. It could be a case that the buy low and sell high strategy does not work, that the market does not soar high as forecasted. In this case huge losses can meet your investments. It can also be a possibility that the stocks of the company that is deemed to be performing well, do not meet the expected surge in price or that the company rather than progressing starts retreating. So, the risks cannot be ignored at any cost and it is also a fact that the long term predictions about the market, company etc. might turn out to be true, short term ups and downs are reasonably difficult to foretell. So the financial advisors mostly speak the lingo of long term investments so as to ignore the short term impediments.

• It is advised to take guidance from a good financial advisor before making any investment. For a colossal loss in investment is potent enough to ruin the entire life of the investor.

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