BP and the great leak.

My perspective on the BP oil leak is shared by few other people as mentioned below : 

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The multibillion-dollar, multinational company found support for its efforts. In New York, that support came from billionaire Mayor Michael Bloomberg.

"The guy that runs BP didn't exactly go down there and blow up the well," he told a radio program. "And what's more, if you want them to fix it and they are the ones with the expertise, I think I might wait to assign blame until we get it fixed."

In London, England, a Downing Street spokesman said Prime Minister David Cameron spoke Friday with BP Chairman Carl-Henric Svanberg.

"The prime minister explained that he was frustrated and concerned about the environmental damage caused by the leak, but made clear his view that BP is an economically important company in the UK, US and other countries," the spokesman said in a news release.

"He said that it is in everyone's interests that BP continues to be a financially strong and stable company."

British Deputy Prime Minister Nick Clegg appealed for a reduction in the vitriol that has gripped many observers. "I don't, frankly, think we're going to reach a solution stopping the release of oil into the Gulf any quicker by allowing this to spiral into a tit-for-tat political, diplomatic spat," he said.

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I have no idea – how is a protest going to stop the leak any faster?? This is because I believe BP is already doing all it can to stop the leak, unlike ofcourse the shameless Union Carbide India ltd – which got away with a slap on the wrist.

While all this is happening, Obama is delivering populist dialogues. Yes – dialogues.

America’s U-Turn!

Another Populist move by Obama.

U.S. Adds Tariffs on Chinese Tires.

“President Barack Obama slapped punitive tariffs on all car and light truck tyres entering the US from China. Beijing decried the decision, saying the move sent a dangerous protectionist signal before a G20 summit and could stoke reactions impeding global recovery.”

Below excerpt from WSJ

“The decision is a major victory for the United Steelworkers, the union that represents American tire workers. And Mr. Obama cannot afford to jeopardize his relationship with major unions as he pushes Congress to overhaul the nation’s health care system.”

Let me tell you that since taking office, President Obama has frequently declared himself a free trader. In several appearances over the last few months, he has driven home the message that protectionism is dangerous to economic health.

Now - do you guys get a feeling that he’s just a populist – but lacks true wisdom?Ever since he was elected – I always got a gut feeling that he’s just a populist, and a good orator ofcourse – but someone who lacks conviction and wisdom.He’s someone who tries to take everyone on the same boat, take his policy in middle east for example, but this is not going to work in long term.

Anyway, this move is definitely protectionism! Now – I am not an expert on this – but isn’t it already a proven fact that it does more harm in the longer term.Who knows it better that we Indians, right?Look what we made till we were living under protectionism – a scooter!

Considering that Americans have been preaching against protectionism to the whole world, this would be a hypocritical move.What right would America have after this to ever talk against protectionism?

This might not only back-fire America, but could slowly lead to something which the world is not ready for.This is a wrong approach to a right problem.

1930 great ‘depression’ was after all a just a ‘recession’ which was badly handled

“There is nearly universal agreement among economists of all ideological persuasions that trade protectionism (i.e., the Smoot-Hawley tariff) was a primary catalyst for the Great Depression. Tariffs in the 1930s originally were intended to protect agriculture, but by the time other special interest groups had climbed on board, an average tariff of close to 60% was imposed on more than 25,000 items. Retaliation by America's trading partners was swift and fierce; the entire system of world trade then was dysfunctional for a decade.”

One of the reactions :-

“The effect of new U.S. tariffs on Chinese tires is as clear as day: U.S. consumers will pay more for tires.The point is to reduce our standard of living by denying us the products of overseas trade in order to benefit a few U.S. tire manufacturers and their union members.”

Similar issues had come during Bush era but he chose a different, clearly the better route.

Below excerpt from WSJ

“President George W. Bush received four similar recommendations from the trade commission, the most recent one involving steel pipe in December 2005, but he rejected all of those recommendations.”

An interesting and welcome development is giving China some hope on their export dependent economy :-

“China welcomed the decision of the United States Court of International Trade to rule the U.S. Department of Commerce (DOC) as "unreasonable" for its imposition of anti-dumping duties (AD) and countervailing duties (CVD) on tires from a Chinese maker”

However the below news is depressing

“Three paper companies and the United Steelworkers filed an antidumping case Wednesday against China and Indonesia, making good on the union's threat to protect other U.S. industries after winning a recent trade decision against China.”

What remains to be seen is how would Obama react?If he goes for tariffs on imported paper – he will almost create a panicking situation.He might want to refrain from doing this, and be seen as protectionist but how would he then justify tariffs on Tires alone? Now this is what happens when you lack conviction!!

Piss Offs piss me off

Some Piss offs in the last week or so

Piss off no 1)Me finding the secret appraisal document of my team and finding out what,

One Team Lead has given a rating of 4 ( 4 is considered above average and only 10-15% of people get it) to a gal he is dating (she deserves a rating of 2).

Second team lead who is a marathi has given a rating of 4 to another marathi in his team, who joined the project 3 months back and barely knows anything.

Third team lead who is a tamil, has given a rating of 4 to two of his tamil team mates, out of which one guy totally doesn't deserve it.

And then I have some seniors in project who deserve 4, but are stuck with 3. I feel so bad for them.

I was told that I had performed much above their expectations, expectations that they have from a college passout, and that I was the best among freshers in my project. I have received a performance award, numerous client appreciations, but what do I get --> 3.3..normalised to 3.WTF?Just because I don't belong to their states?

I Have decided to try and not to work with Indians in future, do my MBA from Singapore, and stay away from Indians at work as long as possible.They can mess up even the best of work cultures.Yeah, I am an Indian who is not very fond of Indians.I am sorry.

Mai apni pehle appraisal report pe haath rakh ke kasam khata hoon ki jaan lagadunga magar MBA ke baad Indians ke saath kaam nahi karunga.

Piss off no 2)Maneka Gandhi's allegation that a Muslim police officer had injured 25 of Varun's supporters.The SSP said that the Muslim officer was not even present in Pilibhit on Saturday, having been transferred to Bilaspur to prevent controversy.

I have decided that India is not worth a place coming back to.Life comes just once,I cannot afford to come and waste it in a country where majority are fools and they don't even realise it, so they condition their offsprings to become fools too, and the trend continues.Why else will a country entertain such bastards?

Piss off no 3)Three Rapist Fathers (in India)

What the hell is wrong with our society?Talk about Indian culture, ah?Its time we start importing prostitutes, so that these guys will atleast stop fucking their daughters.

Piss off no 4) IIT classes from Std VII, 6 years before test

WTF?Why are parents in India so obsessed with just one exam - the IIT?Have a look at your dull kid, who does nothing but slog all day, and has specks in class 5, don't you pity him?Its not like, others who go out and play games don't succeed in life.Big Thumbs down to parents who play no role in overall development of their child.

Piss off no 5)Probability that Mayawati might become PM of our country, and then from no where, some people turn out who actually don't see any problem with that.

This is what I called "Adaptation".A typical stage where you are so fed up with the bad things around you that you try to do reasoning with your mind and see good even in bad.Good for you, but what about the whole country?Rather be a critic.

Piss off no 6)Obama's words

"We will restore a sense of fairness and balance to our tax code by finally ending the tax breaks for corporations that ship our jobs overseas"

This is precisely not the time for cost escalations.

Now, won't this move make the already ailing companies even less competitive compared to their peers in other nations who will continue to ship job overseas and reduce costs?Companies world wide, be it America or Europe or Australia are trying to reduce costs to come out of this difficult times, why would Obama not want to get this basic thing right?Ofcourse you will have opposition from simpletons who just see and hear on TV that their job is going away.

But as a Leader, shouldn't Obama see the larger picture?Atleast he should know whats good for his country in long term.It should have been an established fact by now that if you not reducing your costs, you are not going to survive in a increasingly globalised world.The Job losses then will be much more than now, duh!

As long as their are countries who can provide the same output at much lower costs, it does make sense to shift non-core jobs to that country, doesn't it?After all, aren't you responsible to your millions of investors as well.

What an Irony indeed.You badly want your companies to come back to profit, but you are the one who's standing in its way!!

Piss off no 7)90% tax on employee-bonuses, only for companies which have been bailed out by Govt money.

This is precisely not the time when AIG and others can afford to loose its people.90% Tax on employee bonus?WTF?I can understand 20, 30 or 40, but 90%?

If you are going to take 90% from the bonus, which by the way is a big part of overall compensation, chances are you are not going to attract the creme, but rather loose the ones that you already have.

The companies who did not get the bailout will still pay bonuses to its employees and retain the creme, all the more essential in tough times, whereas the already failing ones which unfortunately had to take Govt money will fail even further because nonprofessionals on the street will now decide its future.

Isn't it sometimes better that we leave it to our parents to decide what is best for us?Like the numerous decisions taken by my mom and dad for me, that I would have previously thought are so crude, but now realise were what was best for me.

As expected Mr.Obama again doesn't get it and makes a populist statement again?This is where I feel Bush was different, the kind of conviction that he had about whats right for the country and whats not, Obama clearly lacks it. Don't you guys feel the same?

Read this somewhere,

Diplomacy is best conducted in secret,media and parliament in democracies tend to confuse the issues with moral considerations and this will lead nations to take irrational positions that did not necessarily further their own interests.

Isn't that line amazing?Doesn't it apply to India as well - at times atleast?