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Some time in the 1990s, an Indian friend who used to visit Ukraine frequently (for reasons of the heart) told us about software like Office, Windows and AutoCAD being openly sold in Kiev and elsewhere for 25 cents.

Today, we were reminded of that conversation when we read a piece in CNET that Adobe Photoshop CS4 is available at a 99.99% discount in Vietnam.

Yes, Photoshop CS4 is sold for $1 in Vietnam as against the list price of $698 (On Amazon, it’s $588.99).

Obviously, the 25-cent Windows in Ukraine and the $1 Photoshop in Vietnam are pirated stuff.

We left India before the PC and Internet era came into full bloom.

But anecdotal evidence from India suggests that our homeland is no different when it comes to piracy.

With rampant piracy plaguing Bollywood movies, it’d be a surprise only if computer software were not pirated on an equally massive scale in India.

We don’t know much about Ukraine or Vietnam but when it comes to Indians it’s not just about the high price alone.

The DNA is as important when it comes to massive piracy. 

You see, the Indian DNA is for the most part hardwired to steal and cheat.

There’s a certain pride in not only stealing but also bragging to friends and Continue reading »

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We are Big Time Crooks, Confesses Satyam

After getting his ass whipped by irate investors over the proposed $1.6 billion acquisition of two building companies Maytas Properties and Maytas Infra with close links to the Raju family, Satyam Computer Services Chairman B.Ramalinga Raju has decided against going ahead with the deals.

The Raju family has significant stakes in the Maytas companies (Maytas is Satyam spelled backward) raising corporate governance concerns that triggered downgrades by Citigroup and JP Morgan Chase.

Raju tried to justify the acquisitions saying that it would ‘de-risk our core IT business by adding a new – yet well-established – business vertical in infrastructure’ but the investors refused to buy any of that.

On Wall Street, Satyam Computer’s ADRs fell nearly 55% to $5.70 Tuesday on the news of the proposed acquisition.

After the stinging rebuke from investors, Raju said on Tuesday:

We have been surprised by the market reaction to this decision even though we were quite positive about the merits of the acquisition. However, in deference to the views expressed by many investors, we have decided to call off these acquisitions.

Satyam was the biggest percentage price decliner on the New York Stock Continue reading »

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Well known Silicon Valley entrepreneurs Venky Harinarayan and Anand Rajaraman have raised $20 million from Time Warner and existing investors Accel Partners, Lightspeed Venture Partners and Dag Ventures for their web navigation startup Kosmix taking the fledgling’s total backing to $55 million.

Other Kosimix investors include Amazon.com CEO Jeff Bezos and Ed Zander (yeah, the failure from Motorola).

Categorization Engine
Kosmix
, which debuted in beta form Tuesday, is touted as a web guide that organizes the Internet by topic.

Kosmix’ backers describe the core of the startup’s technology as a sophisticated categorization engine.

Apparently, Kosmix’ technology scours billions of Web pages and structured data points to aggregate, categorize, and return content specifically related to a user’s query.

Our Take
We played with Kosmix for a while but didn’t see anything remarkable other Continue reading »

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Holy Christ.

Even our little birds of the night are starting to feel the icy palms of the the global recession on their warm little bodies.

Our favorite newspaper New York Times has an interesting piece today on how the economic downturn has impacted sex tourism as far away as Prague.

Gee, who’d have thought that because some overleveraged schmuck in the U.S. couldn’t pay his mortgage, some hole in a Czech or German brothel would go unplugged.

This must be what the economists call globalization, right?

Here’s an excerpt from the NYT piece:

Big Sister is not the only brothel suffering the effects of a battered global economy. While the world’s oldest profession may also be one of its most recession-proof businesses, brothel owners in Europe and the United States say the global financial crisis is hurting a once lucrative industry.

Egbert Krumeich, the manager of Artemis, Berlin’s largest brothel, said that in November, usually peak season for the sex trade, revenues were down by 20 percent. In Reno, Nev., the famed Mustang Ranch recently laid off 30 percent of its staff, citing a decline in high-spending clients.

….In Prague, even brothels in the most touristy areas complain they are suffering from economic hardship. On a recent night near Wenceslas Square in Prague, dozens of Continue reading »

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American auto makers Ford, GM and Chrysler were back before Congress today with their begging bowl.

In proposals presented to Congress today, the three Detroit Idiots are seeking a total of $34 billion to keep going, $9 billion more than what they pleaded for last month.

Here’s the split:

* GM wants $18 billion

* Ford wants $9 billion

* Chrysler wants $7 billion

In return for the bailout, the three auto makers are holding out the Continue reading »

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This is weird.

A Dutch technology company IAI (subsidiary of DOCDATA N.V. in Waalwijk, the Netherlands) is tooting its horn that it’s the supplier of security equipment to the India Security Press in Nashik.

Now, all the forgers and whackos in the world know what security technology the India Security Press is using for its products.

Surely, the management at India Security Press in Nashik must be a bunch of idiots for allowing their suppliers to disclose to the whole world the security technology they are providing to the Security Press.

IAI will supply two SheetMaster Flex systems to India Security Press, which produces Passports, Visa stickers, Government of India checks, Armed Forces ID cards, Postal Stationery, Stamps and Saving Certificates.

IAI claims its SheetMaster Flex systems will be be used to enhance the security of certain products of India Security Press by applying laser perforated security features.

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This is beyond pathetic.

In an act of monumental folly, the U.S. government is throwing the Vikram Pandit-led Citigroup a $306 billion lifeline following the collapse of its shares last week.

This is on top of the $25 billion the government has already put into Citigroup under the TARP (Troubled asset Relief Program) initiative.

The plan essentially screws U.S. taxpayers for the greed and follies of the Citigroup swines.

Under the Shittygroup rescue plan, the U.S. will guarantee crappy assets of $306 billion (with Citigroup bearing the first $29 billion in losses)and invest an additional $20 billion in the troubled financial institution.

The crappy assets of Citigroup are mostly residential and commercial real estate loans and associated hedges.

And what do U.S. taxpayers get in return for the $306 billion bailout? Warrants to buy shares in this shitty bank.

We wouldn’t be surprised if future historians determine that this egregious Continue reading »

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Citigroup’s shares fell sharply for the second day in a row.

On Thursday, Citigroup shares fell over 26% to $4.71, marking the second day the bank’s shares have dropped so sharply. In intra-day trading, Citigroup’s shares fell as low as $4.39.

The stock fell 23% the previous day.

Here are the two big questions now:

1. Is Citigroup CEO Vikram Pandit’s goose cooked?
2. Will Vikram Pandit preside over the demise of Citigroup?

We have said for some time now that this fella Vikram Pandit is the wrong man for a difficult job.

Sure, the guy inherited a mess from his predecessor Charles Prince but what’s Vikram Pandit been doing since becoming CEO.

After all, Vikram’s supposed to be a veteran (at least in theory) of Wall Street and he has been in the CEO’s seat for over 11 months now.

Other than firing 73,000 employees this year, Vikram Pandit seems to have done little else of significance so far. Continue reading »

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Shares of the Vikram Pandit-headed Citigroup fell a record 23% to $6.40 on Wednesday, a 13-year low.

We don’t see how Vikram Pandit, a greedy desi butcher, can survive for long in his post with the stock in free fall and the loss of investor confidence.


Pandit: Clueless?

Since Vikram Pandit took over as CEO of Citigroup in December last year, the bank’s shares have fallen nearly 80%. Continue reading »

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Egyptian coolies have thrown down the gauntlet to our desi coolies on handling the White Man’s IT chores and back-office operations.

Egypt, a country ruled with an iron fist by U.S. ally Hosni Mubarak, says it’s leading the charge to make Africa an attractive market for outsourcing. (Although American media and movies routinely caricature Egypt as a torture destination, we like Mubarak for the tough way in which he has countered the Islamic fundamentalists in his country.)

Since outsourcing (particularly BPO) is a labor intensive activity, Egypt’s recent focus on tapping this sector is understandable given the need to hold the lid on the seething cauldron of educated unemployed youth, who would otherwise be ready fodder for fundamentalist and violent outfits like the Muslim Brotherhood.

* Like India, Egypt is a poor country (GDP per capita of $1,739 source: Wiki) with a huge population (75.5 million). And just like Shakespeare’s Yond Cassius in Julius Caesar (or our own desis), they all have a lean and hungry look.

* Like India, Egypt has a large annual graduating pool of 300,000 with a significant engineering, science and commerce base.

* Like India, Egypt is said to have a fairly decent English speaking talent pool (some 20,000 fluent English speakers are supposed to graduate anually).

* Like India (or Phillipines), Egypt is a low cost country with low salaries and low international telecommunications rates.

* Like India, Egypt has a vast chunk of its population in the young age-group (41% of its 75 million are between 15 and 39), who are eschewing the jobs of their parents and exploring new opportunities.

Outsourcing Advantages
Egypt is touting advantages like a multilingual workforce (fluent in English, French, German, Spanish, Portuguese, Dutch and Arabic); lower labor costs than in surrounding low-cost regions; time zone proximity with the West; relative familiarity with Western culture;  and lower staff attrition rates as factors that make it a more compelling destination over traditional outsourcing locations like India and China.

Egypt’s IT sector is projected to grow from $889 million in 2006 to $1.3 billion in 2011, according to the country’s Information Technology Industry Development Agency (ITIDA), which is striving to grow the country’s information and communications technology industry with a thrust  on business process outsourcing (BPO).


Hazem Abdelazim
CEO, ITIDA

To lure international companies to set up call/service center and BPO operations in the country, the Egyptian government provides tax breaks, Continue reading »

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