JANUARY 11, 2013

THE ECONOMIC TIMES

By Venessa Wong | Bloomberg Businessweek

Wanderlust
Far Out Destination: Beitostolen in Norway Indian Surprise: Jaspa village in the Himalayas on the way to Ladakh Outdoor Activity: Skiing Emptied your Pockets On: Eating great food at the Paradores in Spain

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Outrageous CEO Wagers

Richard Branson vs. Willie Walsh Leo Mullin vs. Gerald Greenwald
In 1998, Leo Mullin, thenchief executive of Delta Air Lines (DAL), bet United Airlines (UAL) CEO Gerald Greenwald 1,000 basketballs, worth more than $20,000, that the Utah Jazz (which played at the Delta Centernow

Meeta Wasan,
FOUNDER DIRECTOR, Doon Consulting

Sam Walton vs. David Glass

Vince McMahon vs. Donald Trump

World Wrestling Entertainment (WWE) owner Vince McMahons chosen wrestler lost him the "Battle of the Billionaires" in 2007. Opponent Donald Trump shaved off McMahons hair in the ring, on live TV.

Mitt Romney vs. Ed Rendell

MC Hammer vs. Carl Icahn

In the 1991 Mother Goose Stakes, rapper and founder of record label Bustin' Records MC Hammer (son of a career horseplayer) made a side bet with business magnate Carl Icahn, then chief executive of TWA.

Virgin Group CEO Richard Branson on Dec. 10 bet Willie Walsh, chief executive of British Airways owner International Consolidated Airlines Group (IAG), that Virgin would still be in business in five years. In lieu of the 1 million ($1.6 million) that Branson offered, Walsh instead wagered a knee in the groin. These two are not the first CEOs to put moneyand dignityon the line over a difference in opinion.

called EnergySolutions Arena) would beat the Chicago Bulls (of the United Center). Mullin lost and later admitted he was secretly rooting for the Bulls all along. The basketballs were donated to schools.

After losing a bet to store managers and then-Chief Operating Officer David Glass that the company could not achieve a pretax profit of 8 percent, WalMart (WMT) founder Sam Walton put on a grass skirt and did the hula dance on Wall Street in 1984.

Ever dramatic, McMahon screamed, "Don't do this to me!"

Former Pennsylvania Governor Ed Rendell has made many a sports bet with politicians. For instance, after the New England Patriots beat the Philadelphia Eagles in the 2005 Super Bowl, Rendell, losing his wager with Romney, sang the national anthem with his wife before a Celtics-76ers game. At least it wasnt America the Beautiful.

Icahn's thoroughbred champion Meadow Star won and Hammer handed him a check for $35,000 "for personal advice," as he noted on the check. A month later, Hammer won $150,000 in another racing bet with Icahn.

Meeta Wasan with her daughter Khushi in Bilbao, Spain

Best Drive: In the Spanish mountains with a view of the Atlantic Ocean Gourmet Delight: Paella in Spain Gourmet Gaffes: In Sedona, TX, I ordered what my neighbors were having as it looked really appetising, not realising that they were snake fritters Best Bar: 360*, New Delhi Street Food Surprise: Freshly made noodles with soup in Bangkok. I had never had anything like that before and went back every day for more. Bazaar Bargain: A lovely necklace made of onyx was from someone's personal vintage collection Panaromic View's: In Spain, Pyreenees on one side and the Atlantic Ocean on the other - It was just breathtaking. Traveller Tips: Read up on the place you are about to visit. You will have a better time.

Etiquette
FESTIVE SEASON QUANDRIES
Our corporate policy stipulates the gifts we can receive from our business partners. Whats the best way to thank the gift-givers?

Handwritten thank you notes are classic and standout in todays paperless offices. The next best option is to thank the gift-giver over the phone, offering you a chance to convey warmth. An alternate way to convey gratitude is to consider the age of the gift-giver - Baby Boomers prefer traditional hand-written notes; Gen X is happiest connecting over the phone while Gen Y appreciates animated e-cards or text messages. Whatever you choose, do ensure that you thank the gift-giver within a week of receiving the gift. During the festive season, I send greeting cards to all my clients. Am I expected to personally sign each card? To strengthen bonds in business, handwrite the name of the recipient and personally sign each card, even if your name, designation and the companys name are preprinted. To further personalise the card, add a short customised message for your recipient. My wife and I send New Years greetings via email. Whats the correct way to sign as a couple? Write your wifes first name, followed by yours and end with your family name e.g. Anita and Sharad Joshi. If your spouse has retained her maiden name, sign her full name, followed by yours e.g. Anita Iyer & Sharad Joshi. During the festive season, I receive greetings which are forwarded text messages. Am I expected to respond? As forwarded text greetings are not personalised, you are not expected to respond. The same rule applies to all email greetings which are not personally addressed to you. Whats your view on e-cards? While e-cards lack the permanence of an oldfashioned greeting card, they are eco-friendly, cheaper to exchange and reach faster. As the rules of etiquette change with the changing times, in todays business world, a well-drafted personalised ecard/ email greeting is acceptable.
SHITAL KAKKAR MEHRA is the author of Business Etiquette: A Guide For The Indian Professional

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