When the stimulus actually worked

Much has been written and analyzed about the US govt.'s $787 billion stimulus package bill which was put in place early this year. Although a major chunk of the stimulus is already in force through tax cuts, TARP funds , unemployment benefits, medicare for poor etc., the common man has not been able to feel the visible effects of the Stimulus on the economy. The idea behind a stimulus package is that the additional govt. dollars pumped into the economy would create jobs, fatten the average consumer's purse, increase consumer confidence and spending, thereby increasing demand for products which in turn increase production and creates more jobs and so on - a faithful covenant of Macroeconomic theory. So, while the govt. was pumping money by advancing rebate checks to the consumers, instead of spending the money, the consumers started saving it and hence, the whole idea of stimulation was thrown off gear as the country's savings increased.

This prologue is to actually demonstrate the success of the recent 'Cash for Clunkers' program under which consumers were able to trade in low-mpg vehicles or 'Clunkers'as they were coined, for newer vehicles and were allowed a handsome rebate of anywhere b/n $3500 - $4500 based on the mpg. The program was so successful that apprehensions of failure was soon met by unforeseen demand spike, urging the lawmakers to pump in more dollars into the program, which incidentally comes to a close today. So, what's the deal? Well, for one, the stimulus money instead of sitting in a bank somewhere actually spurred consumer sales as newer vehicles were bought, dealers were able to get rid of a major chunk of their inventory and also place new orders for production. So popular was this initiative that even people who did not qualify under the program went ahead and bought newer cars - a case for complementary demand.

All is not well with this method though; Rebates on consumer purchases can work only on a short-term basis of stimulating the economy and a particular industry/sector. Besides, the govt. has to face an increasing deficit in light of pumping money as rebates, not to mention the entire process of dealing with the Clunkers and their disposal. Added to that is the inevitable red tapism that exists with any government processes as the dealers are still struggling to file their claims for being reimbursed by the stimulus money. Even though there are some pitfalls, it would be in the best interests to at least follow this process for increasing consumer spending - anything is better than sending out checks only to be encashed later into a savings account. There are talks of the next wave of rebates on home appliances in the fall season. This time there is no concept of trade-in's or Clunkers and it will be interesting to analyze consumer spending in the face of rebates only.

RS

The urn changes hands..

I'm talking about the Ashes and as it came to an end today, it was fittingly England who deservedly take the cup from the Aussies. Deservedly because although England did not have the statistics on paper and had fewer displays of individual player brilliance than the other side, they had won key moments all along the series and seized the initiative numerous times from the Aussies, who simply said, looked like a far cry from the team than handed an English thrashing of 5-0 two years ago. I cannot remember a 5 test series where the team that has had the best performers, both on the scorers as well as wicket-takers list and also has the higher number of centuries lost the series. This time around, one has to say that Andrew Strauss turned out to be a better leader compared to Ricky Ponting. It all came down to the little strategy tweaks, field placements, selecting the best players for the one test match that counted, reading the pitch better and also charging up a team that had immense potential. Of course, this can all be said coz' he won in the end.

I guess it's the team work that counts after all and it also goes to show that change is truly constant. This might turn out to be an irreversible slide for the world beaters, who incidentally after this series drop from their No.1 position to No.4 in the test rankings. After all, the West Indies cricket team ruled the cricketing arena for few decades until all of their top players or the game changers started retiring and the team finds itself in a royal mess right now. Although, Australia still are doing good in their game inspite of the loss of star performers, they have lost their aura. Their domination seemed to be coming to an end ever since they received a thrashing from India in 2008 series(especially in Perth) and later, had their first series loss to South Africa. Well, at least the game is getting more competitive and an average fan witnessing an Australian cricket match will not just conclude that the result is a known.

RS

Missed Vinayaga Chathurti.

I remember that last year, I had just arrived in Chennai after completing my internship and it was all so good shopping for the pullaiyar and other accessories, then sitting through the poojas, eating kozhakkattais and watching VC special programs on TV. Well, nothing much to do this time around. As bland as it can be, I tried to make the day interesting by trying my hand in making Rava kesari.

I had tried this once in my first year in US and that had not come out so well(to put it decently!) even though my roomie ate his fill of it, just because it had lot of sugar! This time though, I had gotten tips from amma who made the same dish when she'd been here for graduation, albeit in larger quantity. So, it was pretty easy to do and came out very well. I could have added a few more teaspoons of ghee and another cup of sugar. To hell with diet control! A good camera would have helped me take a better picture :(. I wish I'd a bunch of my friends around to enjoy this delicacy but for now, it was me spending the day of vinayaga chathurthi with kesari.

RS

Life is so boring..

Almost 3 months after school and life feels absolutely empty. No more classmates to chat with, friends have gone off to work and get some meaning for their MBA experience, the university area is also pretty dull as it's summer quarter and I am all alone doing whatever I can to keep me sane - reading books, watching a zillion movies, fiddling with my piano, biking(I miss RPAC here!) and still pondering my options. These things would be a great deal if it were not for all the boring times spent in job search, sending in application after application. For sometime off late, my networking fizz has gone down a lot - I guess I am just tired of it. I am hoping to give it a boost starting next week and get going on meeting with people. Even if it does not lead to a job, it might be an interesting way to share some thoughts and kill some time :). Hoping for some miracles!

RS

Driven by faith

Nowhere to go, nowhere to hide. For the second time in my life, I have started praying really hard.

I was not spiritually inclined much until college came by and after which, life seemed to function in direct proportion to my discipline and involvement in religious practices. This did take a huge turn 2 yrs ago when things started going crazy at home and it was the point of time when I needed support, comfort and strength from a power that extended far beyond materialistic desires. I was praying constantly, but so were all of them who were also in my vicinity - family, friends, relatives, unknowns! It helped and it was in the most satisfying manner that I could have hoped for and one that reinforced my earlier beliefs.

Yet, it is ironical to note that, as wounds healed and things started to get back in shape, I slacked quite a lot when it came to my daily prayers and virtually, the time set aside for making peace in your mind. Now, facing the crossroads again as a career uncertainty looms on me big time, I have cut down the pace, started spending more time on prayers, trying to reflect thoughts to go forward rather than pondering out reasons as to why this situation exists. Easier said than done, but I have been getting better. Meditation and chanting the Vishnu Sahsranamam does a world of good to my mind and the thinking process, even if does not lead me directly to what I want now. I am not blind in faith and and truly believe that one's effort is the most important factor in any success. I am also not going to declare that these are the only ways to solve some one's personal problem, in fact they don't solve anything at all. But, I do know for sure that these little things at least create the path to finding solutions. It is that belief which still pushes me to try harder and make a fight out of this difficult situation. I am sure everyone has their own favorite god/goddess or to the non-believers, any thing that helps them take their mind off life's constant stresses and get some peace. It's just that we fail to give these wonderful things, the proper attention they deserve and realize it when things run out of control.

I write this post to stand as a reminder - to remember my true beliefs and to hold on to them not only in the bad times but also in the good ones.

RS

Invite SRK for a beer!

As Shekar Kapur put this into perspective. I might as well believe that the job of the President of the United States of America is to resolve silly diplomatic quarrels over racial and religious profiling by drowning everybody in Bud light. With all the recent fracas and media coverage surrounding SRK's detention, I guess it would be nice if this issue is put to rest asap. Surely, there are other pressing issues for all the players involved - the impending drought in the country, swine flu scare, political tensions and what not. There seems to be absolutely no reason to keep revisiting this issue every day in almost every news channel and print media. Agreed, SRK is the top bollywood star, a face of cinematic India across the world and also a gentleman.(as most fans think that gentlemen should not be detained/frisked/touched at security check points!!). That does not give him any special privileges nor a 'free-pass' at the so-called 'random' checks at US ports of entry. What if it is some other 'mohammed' or some 'hussain' who is detained(and infinite such case happen daily across the US) and is not a bollywood star? Can everybody make a media fantasy with the topic of discrimination based on religion or last name?

Leave alone the issue of religion profiling. A google search for complaints about unnecessary frisking by TSA and DHS will throw numerous results; native citizens, permanent residents, aliens, African -American, Hispanic, GLBT, whatever - not any one category has been spared. It is the state of the country for now and this is what everyone has to put up with. Post 9/11, things have changed and forever. There is no returning to any leniency when it comes to airports and this held true even for Ex-president Kalam. Now, instead of any bollywood rallying or political speeches arguing for SRK's case, it would be best to come to terms with what America has to offer and accept it - no other choice.

On a less serious note, the President could well take Shekar's suggestion and offer a complimentary reception to SRK, the TSA officers who detained him and a sleuth of bollywood jingli's from directors to SRK's make-up man. Well, the last time a beer party was thrown at the white house, it seemed to work!

RS

Thoughts on some reading.

I am not much of a reader but have been having a lot of free time off late. I may not possibly get more time like this later to get done with some long-forgotten reading. Here's the three that I happened to go through last week:

Paths of Glory - Jeffrey Archer:

The recent most novel from Archer's fold; this is almost a real life depiction of the life and climbing adventures of George Mallory. When I picked the book, I had thought of it as more of a work of Fiction. I guess sometime reading into the book, one would be tempted to find out, if not already, about the facts underlying the characters and the plot. Well, this story is about one man's dream to conquer the highest point in Earth by climbing Mt. Everest and it makes for a great read, especially when you notice and enjoy the subtleties across UK, US and Indian cultures. Archer has put in great amount of detail and effort in bringing to light the harsh realities one experiences on the way to and at such high altitudes amidst numerous anecdotes on romance, ambition, politics and way of life in the early 20th century. Although there is no sound evidence to back the author's claim, the story does make one wonder as to whether George Mallory was years ahead of Sir Edmund Hillary in scaling the summit.

A Breath of Fresh Air - Amulya Malladi

As refreshing as the title sounds, the plot was a pretty bold attempt for an India based novel - quite surprising since this comes from an author of Indian origin and talks about customs/traditions prevailing in the 80's as well as exposing commonly prevalent taboos about relationships. I have not read many Indian author books but this one certainly bared out some truths on the way Indian women are portrayed and treated even in this 'modern' age. The story revolves around 3 protagonists and the see-saw narration between the past and the present kept me occupied. The story also throws light on some health struggles post the Bhopal gas tragedy and how the worst chemical disaster had a long lasting impact on its victims, 20 years down the lane.

Godfather - Mario Puzo

Wow! This one certainly falls under the 'cannot keep the book down once you start' category. I have always had a fantasy for reading and seeing stories, cartoons and movies on vigilante activism. It's all about doing good, the only glitch is you take the law into your own hands. It's quite a long list of fascinating characters like Robin Hood, Phantom, Batman, Velu Nayakkar a.k.a Nayagan, Thalapathi and now, Don Vito Corleone. I have read many books and articles about leadership and managing your forces, art of negotiation, persuasion and strategic thinking and all of this is exemplified by the Don's character. Don's personal interactions and the way he brings people into his fold, trust or as he would say 'friendship' is just superbly brought out. Of course, he also makes offers that nobody can refuse :). The story is also quite dark and laced with betrayal, violence and the lust for power and money across various characters. The best part was the succession of his son Michael who is the central character and has to deal with a life & destiny far from the one that he wanted; who deservedly earns the 'Don' prefix finally.

RS

Ten things that I will miss @ b-school life

10. The classroom effect: I am not even sure if there will come another time where I would walk into a classroom let alone walking into a room which is so full of diverse people and as interesting as it can get across cultures. Even if I muster effort and time to pursue some sort of exec ed or higher ed later down the line, it cannot ever match the experience at Fisher.

9. Case discussions: If there is one best teaching method that I experienced at Fisher, it certainly has to be case discussions. Of course, I would enjoy reading news, articles, books, WSJ etc. but nothing compares to the joy of pouring my mind over a 30 page HBS case study, jotting down as many thoughts in the hope of taking the limelight in next morning's case discussion, only to find that you are challenged by a vociferous group of students already laying my thoughts on the table. And, there are specific cases, discussions, companies that will remain in memory.

8. LPD events: Events at the b-school which are focused on getting speakers/ workshops for leadership and professional development. It's going to be hard to find time at work to hone my leadership skills in a specific and focused manner as I got to do at b-school.

7. Career information sessions: Although we faced a severe drought of corporate presentations and career sessions in the 2nd year, mostly due to the economic mess, it was great being a part of many such events in the first year. Attending each event with as high an expectation of getting a job offer, this is something that would be surely missing in the years to come. After all, job search post b-school era is going to be on networking and inter'net' working. (if it already has not been!)

6. Student organizations: Member, leader,active or passive - stud orgs form an essential part of the learning curve during b-school and the opportunity to be associated with 'n' activities and organizations is surely something to be treasured. Not only did this keep me sane amidst the workload of an MBA program, it sure did give me a sneak peek into what i can expect working with diverse teams and goals later in my career.

5. Campus experience: Being a part of 'The' Ohio State University is quite an unique feeling. After all, not everybody gets to savor being part of the largest campus in the US nor the feelings associated with 'Buckeye Fever' when it comes to college football. As much as i did not understand the fuss from OSU football fans, it always delighted me when a game was happening in the 'horseshoe' as the OSU stadium is popularly known, mainly because of the atmosphere it generated on Saturdays. Being in Columbus and seeing almost the entire city draped in scarlet and gray is something of a special experience and more so, when you are part of the university as a student. And how badly will I miss the beautiful, scenic Mirror lake and the sprawling lawns of the Oval?

4. Gerlach hall: Where most of our classrooms are located but this one will be missed more so for all the time spent in team meetings/ event planning sessions and just time-pass catching up with classmates in the all the break-out rooms as well as the lounge. It also houses the graduate programs office where one can find an always smiling and chattering Alisa at the reception, a truly welcoming experience for anyone coming to Fisher. And of course, the career services office which has almost been my 3rd home off late, visiting the consultants, all those nervous moments before interviews and of course, the actual interviews.

3. RPAC: The sports facility at OSU. For almost the entire first year, I did not bother to enter this building, even though every student had to shell 80 bucks fee per quarter for the facility use. After my dieting and weight loss adventures last summer, activities at the RPAC became a regular part of my schedule and more so, in my last quarter of study at OSU. Safely, this was my 2nd home and a place where I learned to swim, play tennis, karate, racquetball and also show off my badminton skills to my friends. Not an entirely rosy picture as I still remember the ankle injury that I had during an intense basketball game last winter. Heck, it's sports and it's all part of the.. game.

2. Networking: Although this has sort of become part of life and is expected to continue later in the work life, nothing can match the experience of 'networking' as a student, especially coming across the borders and fighting off the inhibitions to "Ah..leave the crap? what's the use of networking? Besides, I feel so uncomfortable doing this". Never again, can I approach someone saying that I am an MBA student and would like some advice and suggestions on formulating my career search :). My one takeaway learning experience from the MBA program, if I had to pick one though, would be the art of connecting with people..and I am still learning!

1. Friends and classmates: Undoubtedly, this was the best platform to make some long-lasting relationships. I think I did find a bunch of them who will go a long way, like my roomie and teammate across many courses, a Taiwanese friend who more so, by the end of the MBA program had become so accustomed to eating Indian food and sharing stuff across both the cultures, a first-year teammate whom I have looked upon as one of the best business professionals in the program and many more such wonderful persons. I would amongst everything, miss this company and though I may be poised to meet a variety of people going forward, it would be tough to enable a setting such as this to foster the kind of friendships as has been now.

RS

Mission accomplished

There is no way to describe the feeling of graduating with 8000 students and in one of the largest football stadiums in the country. More so, to have my friends for company and to have my parents and girlfriend happily taking loads of pictures sitting in the guest stands. If at all, there was a flaw; it was the fry-pan roasting weather and a boring commencement speech that made things too tiring for the day. But, it was worth the effect and effort. The occasion was more than memorable, everything right from starting from home with the graduation robes on to walking to the horseshoe and waiting like a tiny speck amongst a sea of black hats and gowns for the ceremony to start.

Then, walking into the stadium and trying to spot my 'gang' amidst colorful guest stands and finally the joy of having seen them, waving enough till I had gotten tired. Standing up for the US anthem and seeing the US national flag unfurled so meticulously by the marine corps students was amazing as was seeing the huge flag flutter amidst some 100 balloons that found their freedom. Then, the wait - the speeches and PhD awards seemed to go on for eternity until the time the business school was announced at the dais. It was great to walk all across the stadium, receive the degree and feel like having achieved something truly special. I guess officially, this marks the end of an exciting and challenging academic experience at 'The' Ohio State University.

RS

What am I doing?

This is the question that I had this afternoon after about 3 hours staring into my laptop, browsing through yet another set of new 'jobs', mustering whatever I can of all the information glob that is out on LinkedIn and then sitting desperately, having browsed through all known resources to see if I can get anything on the pipeline. It is during these times that you start to question all the supposedly rational choices you have made that inevitably caused this situation.A really bad feeling, sulking at yet another visit to a dead end.. sometimes I do feel that all this effort into job search is a total waste, absolutely no limit and no light anywhere in sight..grrrrrrrr..:(

Sob sob...

RS