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Yet one more letter in BT

YET ONE MORE LETTER IN BUSINESS TODAY


Following is the text of my letter published in the latest issue of BT dated 9th October 2016 just out today:


Thank You BT for Pampering Readers


This refers to your special edition The Luxury Issue 2016 (Sept. 25). It is simply awesome! The collection and showcasing of various luxury products from around the world was, indeed, mind-boggling. Well, luxury means different things to different people. Something that is an indulgence rather than a necessity, sumptuous or expensive, providing great ease and comfort – these are all definitions of luxury. No longer can something be considered a luxury just based on cost, marketing campaigns or desires. To quote Coco Chanel: “Some people think that luxury is the opposite of poverty. It is not. It is the opposite of vulgarity.” Luxury is anything that feels special. Yes, it can even be a moment, it can be a walk on the beach, it could be a kiss from your child, or it could be a beautiful picture frame or a special fragrance. According to Aerin Lauder, an American heiress and businesswoman, luxury doesn’t necessarily have to mean expensive. Luxury is anything you don’t need. Definitions vary from person to person. “For me, true luxury can be caviar or a day with no meetings, no appointments and no schedule,” says Michael Kors, a New York City-based American sportswear fashion designer. Business Today’s issue helps us, at least, dream of luxury watches, swanky yachts, designer jewellery, opulent bathrooms, exclusive gourmet foods, luxurious houses, lavish weddings, and what not! And thanks to the BT team for pampering its readers!


J.S. Broca, New Delhi.


 

PSUs Have Guzzled Public Money Without Results

PSUs Have Guzzled Public Money Without Results


My letter published in the latest issue of BUSINESS TODAY dated 25th Sept 2016 THE LUXURY ISSUE on the subject of PSUs in the previous issue:


This refers to your cover story on PSUs (September 11), with the lifelike illustration on the cover page resembling an extinct dinosaur. One can vaguely recall having briefly studied about these species in one’s schooldays. In fact, if you visit the website of UK’s Natural History Museum, you will find a complete A-to-Z list of names of such species – much like the long list of our 290 PSUs, as per 2013/14 data. There is always a million-dollar question: where did all the money gobbled up by these undertakings go? Like scientists who can tell whether a dinosaur was a plant-eater, a meat-eater, or both, by studying its teeth, a study of the balance sheets of all these PSUs can similarly reveal how they have eaten all our resources like men, money, machines, and materials. Our PSUs have also been in existence since the 1950s but, unlike dinosaurs, they have not become extinct. They have survived in spite of various economic upheavals in the country. Their number has increased over the decades. They have heavily guzzled vast sums of public money without any results like profits and returns on investment. It is high time that a serious view is taken of all PSUs and a realistic strategy is formulated by eminent experts to either help them show their business acumen or just wind up and sell the assets to add to the government’s kitty. – J.S. Broca, New Delhi


12th Sept 2016