Apparently Mumbaikars appear happy with BMC, since its 24 hours grievance line has few takers.

1916 the BMC call line set up nearly two years ago, so that people did not have to visit local ward to file a complaint.

Between August 07-08 2.94 lakh complaints received BMC claims to have redressed 2.20 lakh complaints.

Surprising statistics are they not:)

Now try sending an SMS to their local corporator. For their mobile numbers check www.karmayog.org/mumbaiwards

T. N. Shanbag - the name invokes memories of a gentle man, who I first saw & met in 1982 when I had the good fortune to visit his store for the first time.

Over the years, though we did not meet, a visit to strand on my visit to Bombay was a must. A bit of small chit chat, the polite push towards reading more things than fiction & then left in peace to browse around.

1995 was when I met him again. He had come over to my office across the road from Strand with a guest for subscription. Business done, he reminded me that it is now close enough for me not to offer excuses. And till 2000 the saturday visits resumed.

For the past couple of years, it was always at the back of my mind to visit Strand, but something or the other ensured I could not.

I am sure, he would have gently smiled & taken up from where we had left. Just as he would with the almighty after his journey.

R.I.P my friend.

History of gold prices (in rupees):

1930: 180 per 10 gram
1940: 360 per 10 gram
1950: 1000 per 10 gram
1960: 1110 per 10 gram
1970: 1840 per 10 gram
1975: 5,400 per 10 gram
2000: 3,000 per 10 gram
2006: 5,400 per 10 gram
2009: 15,700 per 10 gram.

The above example whilst may not be perfect in prices suffices to illustrate that Gold surprisingly gave 300% returns from 1970 to 1975 when the world suffered worst ever recession after great Depression. Will history repeat? That is the reason behind current “Mad Gold rush”. But if you invested in the Gold in 1975, your investment gave negative returns for the next 25 years.

Two things to remember:

1. Gold generally trades in the lower range around March and July. Generally, it is the best time to buy gold and marriage season is the best time to sell God.

2. Below 11,000, Gold is a safe investment but above 15,000- it is only for traders but not for investors.

Future of Gold:

When stock markets were down in 2002, Gold was at Rs 5,400 per 10 gram. Don’t forget that Gold traded below 9,000 per 10 gram till 2007 means you might have got routine returns from Gold investment.

But investors who made investments in gold in mid-2007 are now making 70% returns in just 20 months. But I don’t know what will happen to gold investors who bought it at above 15,000 but they remain in loss even after 3 years. Why?

Gold will recede to 11,000 levels once equities make comeback. What happened to crude oil will repeat in case of gold also. Don’t forget that Gold is not even an essential
commodity. But Gold is a less volatile investment.

Examples:

1. Crude oil prices moved to $147 per barrel and Goldman Sachs people gave $200 per barrel target. It is now trading below the fundamental price at $35 per barrel.

2. Sensex moved to 21,000 and analysts and analysts gave 30,000 target. It is now trading at 9,000 levels.

3. Real Estate prices reached astronomical levels in 2007 but people bought land as if there will be no land available for purchase in future.

So what do you want to do with your accumulated GOLD?:)

Have visited it a couple of times. Some observations about the mall.

There is always a good crowd, which means decent to good footfalls.

Security is good outside the mall, but there is always a line there. And just bag opening & frisking with the detector.

Was stopped from taking pictures inside by the management?? But clean facilities. Sale, Discount going on everywhere, with more than half stores wearing a deserted look. So where did the people go??? Food Court of course. Nicely laid out, with lovely seating, good food, different stalls than Inorbit.

All in all, a good place at a good location, easily accessible for people in the east, and in a couple  of months should do well for itself.

Requested by my daughter to pay off her invoice - because she was too busy with the 12th board exams, reached the place around 12 noon.

Quite full as is normally the case. There was a long line outside where the automated counter was - with the security & staff helping everyone to understand how to use the machine. As usual, only one was working. So went in & stood in the line at the counter. After 20 minutes finally reached & recited the number 9920……….; the staff confirmed the name, recited the amount 655/-. Took out the money & was promptly informed that NO CASH could be accepted, for that I would have to use the automated service. So I asked him, why was it not written on the glass where it stated “Payment here” - reply company policy sir!

Quietly paid & went off.

So guess there is company policy which does not have consumer policy!!

Went to hypercity after a long time with the wife. Whilst she was adding to their profits, I decided to pay off the cell bill & check if I could get some lovely deal on my sms usage.

The bill was paid immediately & then the pain began. Told to take a token, for which there was a person who would allot. The printer was not working, so verbally was given the number. Whilst waiting for it to be called, glanced at the counters - 4 of them - only 2 were working with 3 people clustered around them. The manager was moving up & down talking on his phone.

My phone which was on the blink, so trying to fix it (more likely damage it more) raised it high trying to peer into it…phew…was surrounded by the manager & 2 more trainees, who informed me that photography was prohibited, on my blank look, they gestured to the phone & repeated it. Having waited for 15 minutes with no luck, asked them, what is the problem in taking a photograph - company policy was the answer - so I said OK if I step back, I am in hypercity, so then I can photograph; promptly the answer was, that depends on hypercity.

So then I politely asked him, why does it take so much time to attend to a customer & why 2/3 staff are clustered on each counter, whereas the other 2 are empty. Some vague reply, with the question - sir are you in hypercity? why don’t we give you a call & you can come over?

Impressive, I said so to myself, gave my number & went shopping.

This happened around the first week of february, today 25th midnight, still wait for the promised call.

I had first visited Bandra Terminus the first time 15 years ago.

The last couple of years there was never a need to go there. Today went to drop my parents on their way to gujarat.

Taking the juhu lane road, which is being done up, then on to flyover, highway, trying to get on the road from bandra, no right turn….so going ahead, finally managing to just catch the train. The return was also bad.

The terminus itself is a complete chaos, with just 2 traffic constables whistling away. Tempos, coolies, rickshaw & taxi drivers rule the roost. A total of 4 hours to & fro!!!

It was quite a pleasant shock to receiving money back when one handed over a large note for 2 tickets at a nearby multiplex.

Whilst I guess there are numerous reasons for the price reductions & why not? If everyone can do it.

However I have always been curious to know, why do the multiplex chains not weave in the loyalty factor, so to speak.

A couple of examples may illustrate this point -

A couple of friends are always keen to either watch a movie on thursday night (paid preview) or friday night i.e before any review clutters the mind. It is painful to find out if there is a paid preview, when would booking open (thanks to yashji undecided whether to release in multiplex etc) amongst other. Can there not be a card with the prefixed seat number for a month/quarter/year that one could buy (this could be for 1/2/4 seats) so that one is assured of the seat, the multiplex is assured of income in advance, which overcomes the problem of discount being offered. Here there can be variants…..such as days; combos etc. that could be introduced.

And now cutting prices - at 40% why not try out the 1:1 for people, movies, timings what have you. Take a leaf off the pizza guys.

And yes I know, some of them do have offers, unfortunately the conditions are so constraining that you just decide to give up.

AND MY FAVORITE - Just like the airline, pizza, mcdonald etc. Why can you not offer the add on/Up sell in the beginning, when tickets are bought - Sir would you also like to order your coke, popcorn, samosa to be brought to your seat…..this can work on internet, tele booking & of course the counter.

This keeps customers happy; allows logistical planning & more important adds revenue!!

Multiplex owners write into me for more nuggets:)

Multiplexes cut movie ticket prices by 40%

Arvind Singhal: Subhiksha and the Indian retail story

An interesting opinion by Arvind. However there are many aspects that bear some thoughts. When the going was good - India shining; Retail Rocking….everyone jumped on the bandwagon - consultants offering India on a platter, companies that had no clue about consumers (having spent a decade or more in the B2B space)started announcing 10/100/1000 stores in 3 years or maybe less; the search for retailers began (in a country where organized retail did not exist beyond the past 5-7 years), so bring in expats (expect them to learn India & deliver in a year) so on and forth.

This actually spawned a industry by itself:

Consulting on entry strategy/liaison/funding, property etc.
Search for people
Training
Realtors, Builders
Furnishing, Merchandising you name it.

We had experts all of a sudden with a bidding war being waged. A lot many employees took advantage of this shifting jobs every couple of months.

In all this euphoria everyone forgot/pretended to/avoided the fact & number game. So the 1st year losses accumulated & with a bit of creativity (maybe accounting/inventory management etc) it carried on to the next year & maybe another year; till the bubble burst from below.

Except for the funding companies; nobody was really in the finance business, so when bottom up everyone started asking for their money, the pyramid started collapsing. And there poor subhiksha was caught!

Whilst trying to understand their plight, the fact also remains that there was the board of directors who obviously met if not monthly, once a quarter; their auditors, bankers, vendors who all knew about this collapse - structured or otherwise. Here probably, everyone thought ‘why spoil a good thing’ someone is bound to take care of it….unfortunately that someone was no one.

And there endeth the first lesson for organized retailers!

I am not an analyst, industry leader or similar, however would like to ask…

How is this different from Satyam?
Even @ average of 5 people per store we are talking about 5000 minimum without a job, salary till may if they are lucky.

Take my word for it: There is going to be a Satyam in every industry to ensure CORRECTION for the rest of the players in that particular industry, which may not be bad at all in the long run.

However expecting people/companies to learn from this is a DREAM:)

1. I hate sleeping

2. I have enjoyed my life in childhood

3. I can’t live without tension 4. I want to have disturbed family life

5. I believe in Geeta”Karm karo phal ki kamna na karo”

6. I don’t want to spend time with my spouse

7. I want to take revenge on myself

8. I wanted to break up from my friends

9. I want social boycott

10. I love to work on Sundays &holidays