Apr 24, 2009|
Good CEO, Bad CEO
A US-based publication Conde Nast Portfolio has compiled a list of the 20 best and worst American CEOs of all time based on the inputs of business school professors. Henry Ford is rated as the best ever, followed by JP Morgan. Bill Gates, Warren Buffett and Steve Jobs are placed at the 7th, 10th and 16th positions. The list of worst ever American CEOs is headed by Dick Fuld of Lehman Brothers, followed by Angelo Mozilo of Countrywide Financial, Enron's Ken Lay and Bear Stearns' Jimmy Cayne. Vikram Pandit of Citi also makes it to the dubious list.
It is interesting to note that the financial industry has contributed to bulk of the 'worst CEOs' list. They also belong to the recent times. Financial titans like JP Morgan and Warren Buffett belong to an earlier vintage. It makes us wonder if it is just a reflection of the ongoing financial meltdown or is there a structural problem in the industry because of which the biggest names in the biggest firms earn such a bad name?
Sanity returning to Indian media industry
In an interview with Mint, Ronnie Screwvala of UTV Software says the economic downturn has made the Indian media industry a saner place to work in. During the boom, too much equity had flowed in to the sector and the business model of the new entrants was not sustainable. While a correction was always on the cards, Mr. Screwvala was expecting it to take 2 to 3 years and not as quickly as 6 months. He also believes that things need to correct further in the media sector because companies are only cutting costs as of now and not correcting the inherent business models. To that extent, they're still living in denial.
Natural gas coming to rescue
As per the Centre for Monitoring Indian Economy (CMIE), India's natural gas production is expected to grow by over 60% during FY10 due to higher output from Reliance Industries' KG basin gas. CMIE expects gas output to grow to 52 bn cubic metres (bcm). Natural gas production during April 2008 to February 2009 was 30 bcm. Given that India currently imports over 70% of its hydrocarbon requirements, the domestic natural gas segment is vital to the energy security of the country.
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