Obama has declared to come out with a stringent plan to reverse the economic slide and to strengthen the fallen dollar. His plans mainly mentioned a $1 trillion bailout plan to help reverse the current situation.
Quoting his concern over the loss of 2.6 million jobs last year which was the highest since World War II, manufacturing which is at 28-year low. He also mentioned that is this continues then the unemployment could reach upto levels of 10% which is very high and considering 1 out of every 10 homes wouldn’t have a earning hand, he would do anything to stop that to happen.
Obama’s plans stands at injecting $1 trillion over this year which will help economy, and fulfill pledges. And also mentioned that a second plan would be suggested even before the first one is complete on the intermediate outcomes of the first and anything and everything will be done to help and retain the levels.
Four missiles were launched by unmanned aircraft which struck two places in Pakistan in the wee hours on Friday, January the 23th, 2009. These missile attacks were primarily targeted on the terrorist destinations near the Pakistan-Afghan border and Waziristan, a place in Pakistan.
3 missiles have been attacked at a single location on the Pakistan-Afghan border in village Zharki near north-Waziristan. This place is believed to be the major location for the Al-Qaeda militants including “Osama Bin Laden”. The missiles in this location destroyed 2 buildings, killing about 10 people out of which at least 5 are believed to be the foreign militants.
Hours later, another missile struck a building in the South-Waziristan, killing 8 people and completely destroying a building.
US have not yet acknowledged firing the missiles, which are believed to be fired from a location in Afghanistan under the control of the US. Although, Pakistan publicly protests against these attacks that often kills its own civilians, but secretly seems to agree with the tactics and might also have been providing information on the targets.
These missile attacks are going on since August last year and about 30 missile strikes have been reported to have attacked the similar locations in Pakistan with the primary focus on the terrorist clusters in existence there. US officials with these missile attacks have killed several top al-Qaida operatives, and is denying the terrorist network a long-held safe haven.
No one knows till when are these attacks are going to continue, and whether they will be able to restore peace in the world or will actually fan the fire which already has a lot of nations burning under it.
Taking actions completely opposite of the last president “George Bush” on the two major stands Afghanistan and Israel issue. Where the Afghanistan issue is something which has been primarily brought about by the ex-president itself, but the Israel issue is something which could not be worked upon since quite some time now.
Talking on the Afghanistan issue, he said there would be no lasting peace in Afghanistan unless "spheres of opportunity" are expanded for Afghans and their neighbors in Pakistan, where al-Qaida and other extremist groups have found haven.
Talking on the Israel-Palestine issue, Obama said that a peace needs to be restored amongst the two nations living side by side to ensure peace and security. Taking Israel’s side, he also said that Israel does have the right to defend himself. Pointing his concern towards the deaths and killings in the Gaza strip by Hamas rocket attacks; he said that an international effort is to develop a sustainable peace amongst the two nations for the middle-east to be together.
On his first day in office, Obama had a talk with a lot of world leaders and his primary concern was the World Peace. On his talks with Jordan’s king Abdullah II, Jordanian monarch pledged to launch "serious and effective Mideast peace negotiations to reach the two-state solution as the only means to achieve security and stability in the region,"
One of the other major change that Obama brought about was to close down the Guantanamo Bay Prison which was open primarily for the Terrorist suspects, but didn’t say much about resolving the issues about what needs to be done with the suspects currently there in the Prison. By ordering that the prison camp at Guantanamo Bay be closed by the end of the year, and by closing any remaining CIA secret prisons overseas and banning harsh interrogation practices, Obama said he was signaling that the U.S. would confront global violence without sacrificing "our values and our ideals."
Obama speaking highly of America during his visit to the State Department said "We must recognize that America's strength comes not just from the might of our arms or the scale of our wealth, but from our enduring values. And for the sake of our national security and the common aspirations of people around the globe, this era has to begin now."
Though Initial efforts looks quite promising, but the World and even America is waiting for some substantial results, for inflated talking is not what we all are looking for, Results is what that speaks for itself.
Falling sensex, a change that you see on an everyday basis. Graph showing a drop on regular basis points out the fact that something is not right. A drop of more than 60% in a span of less than 1 year is a talk on everybody’s lips. And a sensex touching new bottoms everyday is definitely a point of concern. A point to which visualizes the fall of the economy and bubble burst owing to the Real Estate.
Coming to certain stability about 2 month back was a sigh of relief for the economy, although the stability point was a quite low from what was regular with the market but still a hope from continuous downfall was what could be seen. Then suddenly from somewhere news started coming up, with the Indian IT Giant Satyam in the news headlines.
One of the major downfalls of IT in India, will be brought about by failing on the ethical issues brought about by the major IT giants such as Satyam and Wipro.
Satyam started with failing Satyam-Maytas deal with people realizing that the Pricing of Maytas is too inflated and it will ruin the giant underlined and the money of the investors is being wasted. But that no longer seems to be a big problem, the bigger problem was the accounts which were being faltered with year after year. It was a burden of the past that they could no longer carry and shedding it was their only option, they tried to hide it by the above said deal but had to come out in the open, when they couldn’t do so. This brought about the fall of the IT giant and its share price fell by about 95%. This not just became a shame on Satyam but also on the operations of the Indian IT industry.
Another cherry on the top was placed by Wipro, the third largest IT exporter in India, with the declaration that it has been banned by the World Bank from bidding its contracts till 2011 because the company had offered shares to the bank’s employees during its US IPO on 2000 which the bank termed as “improper benefits”. Later on, Wipro registered just a profit of 16% this annum and such an image brought about fall in Wipro shares by 17% and fall in sensex again by more than 10%.
Another major impact on the Indian IT industry could be seen by the development of IT in other countries in SEA (South-East Asian Countries). This impact came about by the fact that, pay hikes registered in India has been more than 30% for the past few process, rising land prices in Indian and SEZ benefits to end by 2012 are the major facts why the new companies are no longer interested to come to this country and with the two of the factors combined, we can even see some of the companies moving out of this place.
This became one of the major fears of the Indian Government as what brought about the huge growth in the last decade but may also bring about a huge fall. Not just this, India will be left with a blemish which will stay for times to come and then it will not just be called a “land of the snake charmers”.
Barack Obama, the First non-white President of the United States of America, accepted as the 44th President of the United States on January 20th, 2009 in Denver.
Starting his speech with thanking the people whom he owes for what he is today. And talked about what he believes, “set his country apart” and that is that through hard work and sacrifice each of us can pursue our individual dreams but still are together as one America Family. And that he believes is the reason why he is standing there tonight.
He criticized the tenure of the George Bush’s Presidency by saying that “we love this country too much to make our countries next 4 years to look the same as the last 8”. He then commented on McCain’s statement, another US Presidency elect, which said that George Bush was right 90% of the time, saying that we are not ready to take a 10% chance on change. He also said that, he doesn’t think that McCain doesn’t care what’s going on in an American’s life but he just doesn’t know. Barack Obama re-instated the fact that we are not here to make rich richer and poor poorer, rather we are here to see that everyone has a job, courage to start a business when an idea struck and not to count the wealth of the already billionaires and to worry about the fortune 500’s list.
To build an economy which honors the dignity of work? Talking about the hard-ships that his mother had undergone to complete her own degree and to make his children undergo the college education. People who have hard-shipped through tough times he believes are his heroes. He believed, his major contributions will be for building his country and not towards destroying others.
He then promised and to eliminate the capital gain taxes on the start-ups which create high wage jobs and high tech tomorrows. Then Barack Obama made a few more promises on how he intends to change the course of action of America and people just applauded on their presidential elect just like a few years back, that they did for George Bush but still a hope for a better tomorrow prevails with a greater force.
The Fiasco started from the time when the .dotCom bubble bursted around the oncoming of this century and Satyam acquired a company IndiaWorld which was overpriced and the Satyam had to fudge with the Account books to show it in good health and thus show Satyam’s action to be still a trustable one.
Since that year in 2000, this kept on happening year on year with the display of false pricing of land by overpricing it to an extent which could cover their fake data year on year until last month when Satyam tried to finish it for once and for all.
For clearing the fudged books, what a company like Satyam could think of was to acquire another company which could be evaluated at the same level of the frauds and they don’t have to pay a thing. But who possible give them his company without taking any money of the evaluation as huge as 7000 crores. It could be nothing more than a home firm started just for the same purpose and it was named as nothing else the inverse of the name Satyam i.e. Satyam spelled backwards and it makes Maytas.
But if everything could have gone as planned, I wouldn’t have been writing this and it actually didn’t. To cover the 7000 crore gap in their accounts, they had to inflate the evaluation of the Maytas to the same which didn’t feel right to the Board of Members of the Satyam and other major share holders. This somehow brought the whole plan of the Satyam on the front and the brought the great fall of the India’s one of the major IT industries leaving behind 50,000 employees stranded nowhere and their families.
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