Cold Steel

I had heard great things about the book. Still, I was reluctant to spend money on something whose climax is well-known. Given that both cos were Europe-based, government intervention and interference was expected and references to Mittal's racial background could not be ruled out. I presumed the book would follow some kind of a timeline leading upto the finale, but beyond that I had no idea what it offered or why it got such great reviews. So I picked it up with a pinch of salt.

Right from page 1, it sucked me in. I forced myself to put it away so I could get some sleep at nights. The writing was plain and for the most part didnt get in the way of the narrative. The events that unfolded were so intriguing they needed no literary embellishment. Although at times the authors did provide some arbit literary twists. I also found it difficult to remember all the characters given that there were so many of them. And their European names didnt help. The book is little biased towards the Mittal camp, both in terms of coverage as well as characterizations. Maybe the Mittals happily cooperated for the book whereas the erstwhile Arcelor execs werent too forthcoming.

But the big question I have is on the neutrality of the book, or the lack thereof. Right from the time Lakshmi Mittal first wanted to talk to Guy Dolle (Arcelor's CEO at the time) about collaboration, Dolle was shown as a snob whereas Mittal was depicted as a victim of persecution. This, despite the fact that Mittal's team for this bid consisted of the best in the business. I would think Mittal's success is as attributable to the caliber of his team and their clout as it is to his personal humility during the course of the battle. Reading the book, you cant help but get the feeling that it was mostly Mittal's humility that clinched the deal whereas his character flaws are conveniently glossed over. It is quite possible that things did go down this way. Just that it reada bit like a fairy tale.

It would seem the Mittal's PR team has a done a great job not only during the bid but also in managing the aftermath, of which the book is one. In any case, this is a definite must read if only for the visceral thrills on offer.

Back from Jaipur...

Fell in love with the city at first sight. The new part of the city is well laid out with broad roads and tree lined avenues. The old city is of course rich with history and tradition and the walls are colored in what I thought was a shade of saffron. (Dont quite know how it got construed as pink.)

Had only about 4 hours to spare so it was whirlwind sight seeing. The city palace was very impressive. Clearly, the emperors of this part of our country were well ahead of their times (Maybe they all were). It had trophies from winning polo competitions as far back as 1920s. The arms and weapons collection was breathtaking. Daggers with jade and crystal hilts! Reminded me of Mahabharat and Tipu Sultan serials. I couldnt help wondering how tough wars of those days must have been.

The weather was warm and sultry and the traffic a bit unorganized but other than that no complaints at all.

Saved by our incompetence

The jury is still out on why we missed the financial crisis. Some popular reasons include the strong culture of domestic savings, rural demand, YV Reddy's supposed foresight and so on. But there is one cause that is completely overlooked, our own incompetence.

A simple analysis of bike and car accidents should reveal that the cause is often a foolish driver. He was drunk, speeding, trying to cut lanes, racing with another driver etc. What goes unnoticed is that the people enticed into doing these things are competent as well. I mean, do you see cars used by driving schools ever involved in an accident. Yes, the teacher can control them, but considering that you have all the beginners driving, these cars must be the most accident prone. Yet it rarely happens because learners hardly drive faster than 20kmph.

The Americans really pushed the envelope of their financial system. But only because they were thoroughly familiar with its intricacies in the first place. Most of our bankers are still grappling with our financial system, thanks to the public sector legacy. Our capital markets are not well developed and the general public is still skeptical about the term "investment".

In a sense, the US went into the Olympics and made a mess whereas we never qualified. But hey, at least, we are not losers!

Today’s news, Tomorrow’s history

Until last week, swine flu deaths were prominently reported on the front pages of leading national dailies. But now, they have been relegated to a mere statistic. Has swine flu suddenly become less dangerous? Is it no longer the epidemic it was made out to be?

Hardly, but our imagination has moved on. Even Jaswant Singh is so last week. Force India and Fisichella are in. And the debate on Pokhran II is brewing and will probably be the next big story. The aphorism that public memory is short sounds so true, and if anything, it seems to get shorter. But what is often overlooked is that memory can be easily rekindled, especially in the Internet age as is beautifully captured in a scene in the film, Notting Hill.

Julia Roberts, playing an American actress in the movie, ends up spending the night at Hugh Grant’s place. The next morning papparazzi show up and pics are snapped. Julia is all hyper about the situation, but Hugh asks her to chill for the public memory is remarkably short and this too shall pass. But Julia retorts that it will pass for him, but every time a journo wants to write something about her in the future, he will search the archives, come across this image, and make sure to print it. (Am trying to find the exact lines. Even IMDB doesnt have it.)

I guess my point is if you are in the news for the wrong reasons, the entire nation doesnt have to actively track your fortunes. It only takes one person to run into you several years after the incident and exclaim, “That was you? Wasn’t it?”

Today's news, Tomorrow's history

Until last week, swine flu deaths were prominently reported on the front pages of leading national dailies.  But now, they have been relegated to a mere statistic. Has swine flu suddenly become less dangerous? Is it no longer the epidemic it was made out to be?

Hardly, but our imagination has moved on. Even Jaswant Singh is so last week. Force India and Fisichella are in. And the debate on Pokhran II is brewing and will probably be the next big story. The aphorism that public memory is short sounds so true, and if anything, it seems to get shorter. But what is often overlooked is that memory can be easily rekindled, especially in the Internet age as is beautifully captured in a scene in the film, Notting Hill.

Julia Roberts, playing an American actress in the movie, ends up spending the night at Hugh Grant's place. The next morning papparazzi show up and pics are snapped. Julia is all hyper about the situation, but Hugh asks her to chill for the public memory is remarkably short and this too shall pass. But Julia retorts that it will pass for him, but every time a journo wants to write something about her in the future, he will search the archives, come across this image, and make sure to print it. (Am trying to find the exact lines. Even IMDB doesnt have it.)

I guess my point is if you are in the news for the wrong reasons, the entire nation doesnt have to actively track your fortunes. It only takes one person to run into you several years after the incident and exclaim, "That was you? Wasn't it?"