Mile Stone

issue on 1 1/2/2008

A Magazine of the WLC College

WLC College of India

Do it Easily
A day at
Dakshina Chitra

India’s
Successful
BUSINESSMEN
Whats in
and
Whats Out

www.wlccollege.org
 The Editor Content

Hi,

All schools, all colleges, have two great functions: to confer, and to conceal,
valuable knowledge. The theological knowledge which they conceal
cannot justly be regarded as less valuable than that which they reveal. That
is, when a man is buying a basket of strawberries it can profit him to know
that the bottom half of it is rotten. Concentrate all your thoughts upon the
work at hand. The sun’s rays do not burn until brought to a focus. We are
told that talent creates its own opportunities. But it sometimes seems that
intense desire creates not only its own opportunities, but its own talents. A legent
Mile stone, Well it is a college magazine. This magazine is by WLC
one of the India’s
College Chennai. Its got content to interest all the four main departments Greates Cinematographers A day at
of the college ie Design, Fashion, M.B.A & Media.
of all time Dakshina Chitra Successful
“Subrata Mitra” businessmen

RITU KUMAR WEB MASTER Do it Easily

Whats In Bankruptcy
and HITS
wats out SHEARSON LEHMAN BROTHERS
 A day at Dakshina Chitra

Dakshin Chitra is a very famous heritage centre located in the
Muttukadu area of Tamil Nadu state. The place stands on the East Coast
Road, on the way to Mammalapuram. Chennai city is the nearest and
located north of Dakshin Chitra. The place can easily be reached out by
boarding a bus at Chennai, one that is bound for Mammalapuram. The
place is about 30 far from Chennai.
On 5th of September 2008, an enthusiastic lot of WLC college Design
students accompanied with two faculty went on an culture based
photography field trip. The Students with there camera went around
different states and captured the extinct culture in their own different
views. To get the feel of it some students tried their hand on different
types of art like pottery, basket making and many more

Dakshin Chitra is symbolic of the traditional South Indian state. The

place forms one of the best folk museums of Tamil Nadu, architectural
heritage of Tamil Nadu, Kerela, Karnataka and Andhra Pradesh. At
Dakshin Chitra one can have some enlightening glimpses of Indian
states in the past. The place is provided with recreated and remodelled
buildings that correspond to the primitive ones, the ones which used
to be built hundred and more years ago. An agricultural house with a
large granary provides some useful insights of the Indian past. There is
a potter’s house featuring the age old craft, weaver’s house that elicits
the knowledge about the Kanchipuram crafts, Brahmin house packed
with religious arts and crafts, thatch huts, stone horses and elephants
and more. At Dakshin Chitra one comes to experience the Indian way of

1 2
living that has been somewhat lost in the contemporary oblivion.
 Do it Easily in Photoshop. Now we are going to increase the
overall contrast of the picture by burning it a bit. Go
to IMAGE > ADJUSTMENTS > LEVELS…With
Set MAX RADIUS:
4 and leave the rest
with the default
this image we are going to set the INPUT LEVELS values. Press
to 60 / 1.00 / 220. OK and then go
But this is only to the LAYERS
for this example. PALETTE and set
Choose the best the BLENDING
settings for MODE to DARKEN.
each photo.

Adding comic book elements to the

In this step we are going to give the photo an
illustrated look with some graininess to give the
illusion of an old and bad quality paper. It is not
a realistic effect, it is just some distortion to the
image to help us achieve the final look. Go to
FILTERS > ARTISTIC > FILM GRAIN. In this
picture
The effect looks nice so far. It is not a realistic old
comic book effect, it simple resembles that look.
To make it more real, now comes the fun part. We
are going to add some unique elements that are
very popular on comic books and strips
Select the HALFTONE layer and set a STROKE
LAYER STYLE of WIDTH: 20px, POSITION:
Inside and COLOR: #F5ECE1.

Lets add a border to

the image: Add a new
empty layer above
the layer containing
the rectangles
we created in the
previous step. Select
case we are going to use: GRAIN: 4, HIGHLIGHT the RECTANGLE
AREA: 0, INTENSITY: 10. Try different settings SELECTION TOOL
for different photos. from the TOOLS PALETTE. Draw a selection
from the top left (right inside the frame) to the
How about a fun effect for your incredibly boring Click on the image below to see a larger and more
photo albums? Creating a old comic book effect clear image of the
Duplicate the layer and name the new bottom right border of the image.

for your photos is easy and the results are visually final results.
layer HALFTONE¬¬
Go to EDIT >
appealing. More fun is achieved when adding
In this step we are going STROKE, set
captions to your photos using comic book fonts
apply a halftone pattern WIDTH: 4px,
and design elements.
to the image to give the COLOR: BLACK,
Old halftone print
final old comic book L O C AT I O N
This tutorial will show you how to give a comic effect
printing effect. Go to CENTER and
book look to your photos using a couple of filters Download and
FILTER > PIXELATE > press OK.
and some additional decorations. open this photo

3 4
COLOR HALFTONE. DESELECT the
current selection and go to FILTER > BLUR >
BLUR MORE. Then apply a small distortion using
FILTER > DISTORT > RIPPLE… (Amount 20%,
Size Medium). Now, lets sharpen the stroke a bit
with FILTER > SHARPEN MORE and there you
have a nice simulated hand drawn border.
Adding captions using a comic book
font
To add captions to the photo you can use any font
you like, but only using fonts specially designed
for comic books you will be able to achieve the
desired look. Download the free font Digital Strip
and install it. At the end of this article you will
find a lot of free and commercial comic book fonts
and resources.
Using the Digital Strip font you’ve just downloaded,
type a date on the top orange rectangle. Play with
the first letter of the text by adding a stroke, a
shadow and a bright contrasting color.
Then write a caption for the photo at the bottom
white rectangle. Highlighting some words in bold
also looks good.
And that’s all. Your image should look similar to
the one below:
WEB MASTER
Web page design is a process of conceptualization,
planning, modeling, and execution of electronic media
content delivery via Internet in the form of technologies
(such as markup languages) suitable for interpretation
and display by a web browser or other web-based
graphical user interfaces (GUIs).
The intent of web design is to create a web site (a
collection of electronic files residing on one or more
web servers) that presents content Such elements as
text, forms, and bit-mapped images can be placed on
the page using HTML, XHTML, or XML tags.
Most of the people think that it is visual appearance
that determines a site’s success or failure but in fact it
is Usability that determines site’s faith no doubt that
visual appearance does have involvement in site’s
success but first thing is Utility. After all it’s all about
user; finally a user has to use the site and has to decide
everything.
So, most of the designs we do see over different websites
are user-centric. Before talking about principles of web
design, first take a look at how user look or interact with
a website and their basic patterns of behavior. Visitors
glance at every new page and scan some of the text
and normally do click at something of their interest on
a website and if they don’t find it of their interest then
Back button is clicked and search is continued. In all
this process there may be the large parts of text at
which they even do not even look at.
Overall users do appreciate quality content even if a
page is filled with lots of advertisements and is not
well-designed then too they don’t mind reading it.
5 6
Second thing to notice about them is that they don’t
read they just scan the whole thing and normally they Talk business; avoid company specific or unfamiliar
are impatient i.e. they do return if they don’t find what technical names.
they were searching for or if the page takes too much
of time to load. They usually follow their intuition and Rule # 6 Keep it simple - should be the fundamental
want to have complete control. After having a glance objective of the site design. From the user point of
at user’s behavior let’s talk about the basic rules of view, the best site design option is to keep pure text
without much advertisement in it.
#1 Web Page must be obvious and self explanatory
- Website’s navigation and architecture must be user Rule #7 Divide the content - into digestible pieces of
friendly in all respects. A web designer’s basic objective information to reduce the load cognitive load for the
must be to don’t let users think and eliminate question visitors as complex structures are harder to read, scan
marks related with usability of the site. and analyze and work with it.
Rule # 2 Keep user requirements minimal - Let user Rule # 8 Express yourself effectively - Follow the
explore, discover and test your site and services visible language which has three basic fundamentals
without filling up long web forms and forcing them to as organize i.e. provide user with a clear consistent
share their private data. structure, economize which includes elements like
simplicity, clarity, emphasis and distinctiveness and
Rule # 3 Attract users - Integrate images and web 2.0 communicate i.e. match your expression with user
elements in your website to make it more attractive. capabilities.
Make your website eye catching providing both static
and dynamic content. Rule # 9 Conventions are not always bad - Conventional
designs doesn’t result in a boring website as they
Rule # 4 Make uses of Modern web designs - Simple reduce the learning curve and can help you gain users’
1-2-3-done steps, large buttons with visual effects assurance and belief.
are definitely better as compared to simple web
elements. Rule # 10 Test early Test often - This so called theory
should be applied to every web design project. Testing
Rule # 5 Effective Writing - Fine-tune your writing is a repetitive process i.e. one must keep testing to
approach to users’ preferences and browsing habits. produce useful results.
Celebrates Independence in matchless-creative style
Chennai, 15th August 2008: Continuing the spirit of freedom with creativity
in their hearts, team WLCI Chennai today organized a spectacular one-
of-its-kind event at Abirami Mega Mall to commemorate India’s 61st year
of Independence. “Freedom 61”- the event which was second in series,
comprised of live creation of biggest greeting card. Students from the
Advertising & Graphic Design and Business department under the guidance
of their Department Head Mr. Immanuel Robinson, created this 50ft tall
greeting card in just 45 mins!
The event was equally supported by Mr. Keshavdas, Mr. Prasad amongst
others. A big gathering of cheered the team during the event.
Whats In and wats out
. I mean, they sure won’t fit a formal dress
or anything, but they’re great for a casual
going out wear. Like say a nice top and
some jeans, or some casual dress. Short
sleeves, sleeveless, strapless; just don’t
wear them with long sleeves. As you see
you get colors to choose from so match
them wisely. I especially like the fact that
the colors are somewhat dull and go well
with the dark wood. I don’t know about
you, but I’m kinda sick of all the late
flashy summer colors like yellow, baby
pink and poison green. So it’s nice to have
something dull for a change. It’s massive
enough to make an impression and adding
a necklace may just overcrowd the outfit.
Earrings would be nice though, but again
they have to be well matched.
It’s practical and at the same time
fashionable. The way it’s narrowed on
the top brings me back in time. It looks
like an old fashioned travel bag, but at the
same time it has the today’s modern look.
As I said it’s not the perfect choice for
the summer season and I certainly don’t
see it in combination with fairy summer
dresses or shorts, or even summer suits,
The right season for it is probably fall
or even winter, when the dull colors are
more tolerable and the things you need to
carry are bulkier…you’ll certainly need
something like this bag then. For now stay
with the small purse like bags, but don’t
forget that seasons change and it’s never
too early to start shopping for them. So do
the right thing
We’ve talked about t-shirts before, but
this one’s so cute and pink, . They look
good in combination with practically
everything (well maybe not this particular
one, but you know what I mean). This
one’s more casual or even sporty style.
It’s a bit long for my taste, but that’s just
me. Anyway, it is fun, it is bright, and it is
charming. And just to remind you - stripes
are still here. Now, I won’t plunge into
explanations about possible combinations
and what will look good and what won’t,
because I trust you that much. Just mind
the colors and you should be fine. And one
more note – this type of t-shirts is pretty
tight and follow the contour of your body,
so if that’s bothering you, you can always
go for the plain straight t-shirts.
7 8
It’s yet another American Eagle item and
to be honest it’s something I think every
men should have in his wardrobe. Not
that I mind t-shirts, but even the sportiest
looking shirt will add more formal look
to your outfit. And it’s not a bad thing to
dress up from time to time…just for the
sake of showing interest if not else. We
dress up for you every time…buy a shirt
and return the favor at least ones. And
here’s a good start – plain design and a
single dark color - nothing too scary. It’s
a great shirt. It’s easy to match and it will
work with practically everything – from
creased pants to shorts if you insist. It’s
a great summer choice and I really insist
on you buying at least one. It is not gonna
be a mistake, I promise.
Those things have been around for a
long, long time and they sure are here to
stay. Still they’re like any other fashion
accessory – if not combined appropriately,
can ruin the entire view. So liker or hater,
make sure you match them right. And
not just the colors…style too. If you’re
dressing up over the casual wear – forget
about it. And I know you’ve seen suit and
cap combinations, but please try to resist
copying those people. And I don’t know
about you, but my personal favorites are
the clean, simple ones. Like the one I’m
showing you - nothing too flashy, nothing
too much – easy to combine and very
nice looking. And one more thing – caps
don’t look good on everybody. Don’t just
buy it, because everyone’s wearing them
– make sure it looks good on you first.
If you think the summer shoes are just
flip-flops, sandals or flats you’re so
wrong. And what about the guys - they
can’t wear flip-flops all the time right.
I think this looks classy (as much as
sneakers can look that way). I like the
dull colors and the contrast they make
with the white sole and laces. I also
like the fact that the colors are easy for
combinations – black and white just go
with everything so the room for mistake
is practically zero. You know you can
wear those with basically everything -
jeans, shorts, even suits if the occasion
allows it. So even though the summer
may be a little hot for sneakers, they still
are the most comfortable and dominant
shoes in the male shoe market. You just
can’t go without them.
RITU
KUMAR
R
itu Kumar is one of India’s
leading designers, who have
created a distinct style of
designing, giving ample
focus on the ancient traditions of Indian
craftsmanship in contemporary terms. Ritu
Kumar has a solid background in art history
and musicology, which has enriched her
prospects, understanding of ancient designs
and the innovative use of traditional crafts
by Ritu Kumar, has created a new controlled
form of expressions. Ritu distinctively holds
the status of an advocate of the heritage
in the Indian fashion industry, and she
has successfully bridged the gap between
traditionalism and modernity.
Ritu began her venture with four hand-block
printers and two tablets; in a small village
near Kolkata in the late 60s was incidentally
the first woman to introduce the boutique
culture in India under the brand name ‘Ritu’.
Today she has thirty four outlets in all major
cities in India and one outlet in America.
Ritu Kumar’s boutiques usually presents you
with a comprehensive platform surrounding
the top quality of Indian design that includes
specially produced range of high fashion
garments and accessories using silk, leather
and cotton. Ritu Kumar’s range of Indian
and western clothing encompasses traditions
and individual talent and women across the
globe can easily identify themselves with
her vision of designs. Ritu has gone a long
way to create her own definition of the term
‘fashion’ in the Indian context.
She has successfully demonstrated that
9 10
the products from the handicrafts can be
as profitable and even more glamorous
compared to that of machine and that Indian
fashion is more than capable of holding
its own stature in the global field of haute
couture. Her creative fashion is distinctly
recognizable by its controlled expression
of art, beauty and elegance. Her design
philosophy is based on the hypothesis that
everything founded on good aesthetic cuts
across all borders-be they geographical,
cultural or otherwise. This very beauty is the
factor central to the Indian handicraft which
underlies all of her creations.
As the world has truly become a global
village, more and more of the elements
that make up modern culture are taking
on rich hues and ethnic tones. Pluralism
is the central idea, while the tastes are
rapidly becoming diverse. Within fashion,
the Indian techniques used by Ritu Kumar
have increasingly commanded a premium
for their creativity, style and finish. The
Indian influence on contemporary wear is
unmistakable when it is designed by Ritu.
In agreement with these evolving latest
trends, in the April month of year 2002 Ritu
Kumar launched her new co-brand, ‘LABEL’.
This brand reflects modern and global trends
that shape our lives in the modern times.
‘LABEL’ is created essentially to cater the
requirements of modern woman, who is self-
sufficient, perceptive and universal. It is a
modern offering with a specific focus on the
cut, color, drape and feel of the garment.
This brand has a universal appeal aimed at
today’s mobile lifestyle. It is fashionable,
affordable and like all Ritu Kumar products,
it possesses the very highest quality.
Collection
The name Ritu Kumar does not require any
introduction among the fashion buffs around
the world. She is the empress of Indian haute
couture and one of India’s leading and most
gifted fashion designers.
The desire to own a Ritu Kumar original
creation is every bride’s dream. Ritu has
nurtured a unique and incomparable style
of her own which includes ancient Indian
handicrafts such as zardozi, bandhani
and chikan work and she combines
them with a contemporary flair to create
stunning outfits.
the bridal collection is a beauty delicately
adorned with the intricate use of expert
zari embroidery, embellishments and
thread work. These garments are crafted in
naturally rich fabrics like silks, georgettes,
crepes, tissues.
Sarees are the part of the vast and
vivid collection exclusively created the
saree designs have the distinct touch of
genius designs.
Every time she was able to deliver
mesmerizing designs to her ardent fans
world over. Ritu kumar designs exhibits
exquisite blending of the Indian handicrafts
with contemporary mediums.

A legent
one of the
Greatest Cinematographers
of all time
“Subrata Mitra”
S
ubrata Mitra is perhaps the greatest ever Indian
cinematographer who revolutionized prevailing aesthetics
in Indian Cinema with innovations designed to make
light more realistic and poetic.
Mitra was born into a middle-class Bengali family in 1930. Even
as a schoolchild he would cycle with classmates to the nearest
cinema to watch British and Hollywood films. By the time he was
in college, he had decided he would either become an architect or
a cinematographer. Failing to find work as a camera assistant he
reluctantly continued studying for his science degree.
In 1950 the great Jean Renoir came to Calcutta to shoot ‘The
River’. Mitra tried to get a job on the film but was turned away.
With the efforts of his father he was given permission to watch the
shooting. Out there he used to make extensive notes and meticulous
diagrams detailing the lighting and the movements of camera and
actors. In fact one day the cinematographer Claude Renoir asked
for his notes to check lighting continuity before doing a retake. The
other gentleman was planning a film and one day he asked Mitra to
photograph the film for him. And so at the age of 21 Mitra became
a director of photography. The film he was to photograph - ‘Pather
Panchali’, and the director - Satyajit Ray. ‘Pather Panchali’ was shot
over four years in chunks whenever Ray was able to find funds. In
fact for 18 months the production shut down entirely until Ray’s
mother talked to a friend of a friend of the Chief Minister of West
Bengal who agreed to finance the remaining part of the film. ‘Pather
Panchali’ led to a collaboration with Ray which produced 10 films
in 15 years.
Mitra made his first technical innovation while shooting ‘Aparajito’.
The fear of monsoon rain had forced the art director, Bansi
Chandragupta, to abandon the original plan to build the inner
courtyard of a typical Benares house in the open and the set was
built inside a studio in Calcutta. Mitra recalls arguing in vain with
both Chandragupta and Ray about the impossibilities of simulating
shadowless diffused skylight. But this led him to innovate what
became subsequently his most important tool - bounce lighting.
Mitra placed a framed painter white cloth over the set resembling a
patch of sky and arranged studio lights below to bounce off the fake
sky. Apart from his brilliant work with Ray on films like ‘Charulata’,
Mitra also shot four films for Merchant Ivory Productions in the
1960s - ‘The Householder’, where he photographed most of the
film with six photoflood lamps, ‘Shakespeare Wallah’, ‘The Guru’,
which was the first Indian film shot entirely with halogen lamps and
‘Bombay Talkie’.’ [From the upperstall.com website.]
Subrata Mitra became one of the greatest cinematographers of all
times. A man known for his attention to obsessive detail as well
as one known to terrorize actors, put the fear of god in all film
laboratories and bring even the greatest directors to their knees.
In the days before instant video monitoring and digital gizmos,
cinematography was the dark art and the cinematographer it’s wizard;
with his array of secret charms and spells he could bind you in.
11
Subrata was the Jedi Master, quite simply the best.
I got to know Subrata Mitra on Victor Banerjee’s film ‘An August
Requiem’ and for some unknown reason he decided to take it upon
himself to draw me into his world of light and magic.
Born in 1930 Subrata Mitra wanted to become an architect or a
cameraman. When Jean Renoir was making ‘The River’ in Calcutta
Subrata tried to get a job as a camera assistant but failed. Stubborn as
he was, he would tell me years later, he didn’t take no for an answer,
hung around and followed the unit with his little notebook in which
he wrote and made meticulous sketches. This paid off, for later the
cameraman Claude Renoir was asking Subrata for his notes on the
film to check on his own lighting schemes. It was here that he met
a young illustrator working in an advertising agency and planning
his first feature film - Satyajit Ray. Ray wanted to break away from
the conventional lighting styles followed in the commercial cinema
of Calcutta and looked towards the 21 year old science graduate to
photograph his feature ‘Pather Panchali.’
Henri Cartier-Bresson was there inspiration and while the two had
appreciated the light and contrast in Cartier-Bresson photographs
they had never seen any of this in cinema. In ‘Aparajito,’ Ray’s second
film Subrata introduced ‘bounce lighting’ in cinema. He achieved
his special quality of light by stretching a white cloth across the
open courtyard of the set they had built in a studio. Placing studio
lights below he bounced them off of the cloth to simulate a diffused
daylight feel. Bounce lighting was born and people who saw those
early Ray films in the 50’s and 60’s were shocked by the look and
photography; they had never seen anything like this before!
Subrata Mitra mentioned to me that it was in nature and life around
him that he found his inspiration for lighting. He’d always look for
a natural source; a window, a skylight, a lamp and then use that
to light up the scene. But more than lighting it was the quality of
exposure, the texture of the skin, a fine eye for details that were an
inescapable mark of films that he waved his wand over.
Unlike others at his time he didn’t keep this a dark secret either. His
passion was to share information, to draw students, his crew and
anyone else into his world. He’d take pains to explain his lighting
style and in moments of doubt wouldn’t hesitate to turn to his
assistants and say, ‘what should the exposure be?’
I found the Bombay Film Festival incomplete, his stubby pencil,
his fat address book which he stubbornly used even though we had
tested all the possible digital diaries available on this planet, the way
he stirred his coffee; holding his spoon in his nicotine stained fingers,
stirring, pausing and then stirring again. I missed someone who
was passionate about films, someone who fretted about scheduling,
about which films to see, about the quality of projection, of image,
of lighting and about filmmaking itself.
Subrata Mitra was obsessive about details. ‘God is in the details,’
he would say quoting the architect Mies van der Rohe and also
echoing what Satyajit Ray said, ‘It’s details that make cinema.’
It was the attention to detail that made Subrata what he was. On
an Indian Airlines flight he took a white plastic cup cut it in half,
fitted it onto his still camera converting it into an incident light
meter. It was as accurate as the professional one he had which
cost him over $400!
In New York, Subrata Mitra was looking at a poster of one of
the Ray films when a voice boomed from behind, ‘I’d love to
meet the man who shot this film.’ Subrata turned around and said
quietly, ‘that was me.’ He was immediately swept up in a bear
hug by a man who kissed him on both cheeks and said, ‘You are
12
truly a genius.’ The man was Vittorio Storaro.
 Bankruptcy
HITS
SHEARSON LEHMAN BROTHERS
Is Lehman Brothers next?
Posted Mar 15th 2008 8:39AM by Peter Cohan
Filed under: JPMorgan Chase (JPM), Lehman Br
Holdings (LEH), Bear Stearns Cos (BSC)
What happened this week could be the start of
something bad. As the Fed -- using JPMorgan
Chase & Co. (NYSE: JPM) as its conduit -- bailed
out The Bear Stearns Companies (NYSE: BSC), I
was watching which banks were falling the most
in sympathy. Next on the list? Lehman Brothers
Holdings Inc. (NYSE: LEH) whose shares lost
14.6% yesterday -- a huge drop but nothing
compared to Bear Stearns’s 47% decline.
What exactly is going on here? The Wall Street
banks hold the cash and securities of corporations,
hedge funds and other investors. If a Wall Street
bank files for bankruptcy, the bankruptcy process
freezes those assets so that the customers can’t
get access to them. Thanks to bankruptcy law, the
courts get to decide which creditors will get their
hands on those assets. The reason Bear Stearns
failed is that its customers withdrew their funds so
they would not be frozen by bankruptcy.
The Fed stepped in because -- as I suggested
Thursday -- it was faced with a choice of the lesser
about its liquidity (Bear Stearns CEO did that
earlier last week). “Our liquidity position has been Citi Statement Regarding
and continues to be very strong,” adding that the
company’s standing plan to handle liquidity is a Lehman Brothers
competitive advantage. I think the Bear Stearns
Bankruptcy Filing
experience suggests that investors may need
more concrete assurance of Lehman’s liquidity
situation. Citi issued the following statement today about
its role as indenture trustee of Lehman Brothers
That market does not appear convinced. Reuters bonds:
reported that “the cost of protecting Lehman’s
obligations against default for five years surged to “Citibank N.A. is listed in the Lehman Brothers
465 basis points, or $465,000 a year per $10 million bankruptcy filing as an indenture trustee for bond
protected, from $400,000 the day before.” debt of approximately $138 billion under Lehman
of two evils. It chose to create a “moral hazard” by
Brothers Holdings Inc. Senior Notes. Citi wishes to
bailing out Bear Stearns over letting it fail because
The simple reality is that there is not enough clarify that our role in this issue is administrative in
it thought the cost of moral hazard was less than
detailed, accurate, and timely information about nature and does not represent exposure for Citi to
the cost of wiping out Bear Stearns shareholders
Lehman Brothers’ actual situation to judge what is Lehman. Any assertions to the contrary are false.”
and customers and all the collateral damage (pun
going on.
intended) that would ensue. So why is Lehman
Brothers the next one at risk? Citi, the leading global financial services company,
But I find it hard to believe that Bear Stearns was has some 200 million customer accounts and does
so much worse than every other firm on Wall Street business in more than 100 countries, providing
Well, Lehman Brothers shares fell 14.6% on Friday.
that it will be the only one affected by this flight to consumers, corporations, governments and
And according to Reuters, it holds “extensive
safety. institutions with a broad range of financial products
mortgage assets, and one credit derivatives dealer,
speaking on condition of anonymity, said his bank and services, including consumer banking and
Meanwhile, I wonder whether the Fed will bail out credit, corporate and investment banking, securities
was pulling back on its exposure to Lehman, as were
all these banks, and if so, can it afford to do so? brokerage, and wealth management. Citi’s major
his clients. Rumors of funds unwinding positions
with Lehman abounded, with everybody from risk brand names include Citibank,
Peter Cohan is President of Peter S. Cohan &
management consultants to hedge fund managers
Associates. He also teaches management at Babson CitiFinancial, Primerica, Smith Barney, Banamex,
to traders having heard them.”
College and edits The Cohan Letter. He has no and Nikko. Additional information may be found at
financial interest in the securities mentioned.
Moreover, while Lehman reported extensive www.citigroup.com or www.citi.com.
liquidity in November, Bear Stearns did as well.
Specifically, Lehman had $35 billion of liquid
assets, and another $160 billion of assets it could
sell if it had to. Lehman said on Friday it had closed
on a $2 billion, 3-year unsecured credit facility.
Unfortunately, what was true in November may
not be true right now. For all we know, Lehman
customers could be spending the weekend frantically
trying to withdraw their money.
13 14
A Lehman spokesman issued a statement bragging
 India’s Successful businessmen Reliance Industries chairman Mukesh Ambani is, according to Forbes the world’s fifth richest man
and his net worth is estimated at $43 billion.

The Indian billionaire and his younger brother parted ways after the death of their father, Dhirubhai,
the patriarch of the Reliance empire.
The leadership, diligence, foresight and wisdom that a great entrepreneur demonstrates can help shape Mukesh is currently building a $2-billion home on Mumbai’s Altamount Road.
a company’s -- even a nation’s -- destiny.
Mukesh Ambani
Indian corporate history is replete with business icons who have changed the way the world looks at
India, and helped shape a new future for the nation.

But before we move on further, here is a caveat: This list of India’s corporate giants is by no means
complete. Nor have these Indian business icons been ranked. Their pictures have been arranged in Anil Ambani is Mukesh’s younger brother. With a net worth estimated at $42 billion, he is also the
random order. Here’s a list of some of India’s most admired and entrepreneurs world’s 6th richest man.

The chairman of the Anil Dhirubhai Ambani Group, Anil has a vast range of companies under his
umbrella: Reliance Communications, Reliance Capital, Reliance Mutual Funds, Reliance Energy
He is married to former Bollywood actress Tina Munim.

Anil Ambani

Ratan Naval Tata has been in the news for the past few days due to the unseemly controversy over
the Nano car plant in Singur, West Bengal.

The 70-year-old is the chairman of the Tata Group, which is one of India’s largest conglomerates.
A bachelor, Tata is one of the most admired businessmen not just in India but the world over. He
has been at the helm of the Tata empire since 1991.
Ratan Tata
Bharti Group chairman & managing director Sunil Bharti Mittal is one of India’s greatest success
stories. In just a period of 10 years, he has built India’s largest cellular services company.
His net worth is estimated at close to $12 billion.

Sunil Bharti Mittal

Azim Premji is the chairman Wipro, India’s second largest software firm after Tata Consultancy
Services.
Vijay Mallya is a shrewd businessman and a Member of Parliament. He is the chairman of the
United Breweries Group and Kingfisher Airlines.
Premji is credited with transforming Wipro, his family’s vegetable oil business, into one of the
world’s foremost software company.
One of India is richest men, his wealth is estimated at $1.4 billion. Mallya is also the owner of Force
India F1 racing team and also of the Indian Premier League is cricket team, Royal Challengers
Although one of the richest Indians, he flies economy class and is happiest when hiking, reading or
Bangalore.
Azim Premji discussing the foundation he has set up to promote primary education.

15 16
Vijay Mallya
 A Harvard alumnus, Anand Mahindra is the vice chairman and managing director of Mahindra &
Mahindra.

The 53-year-old businessman has taken his company to unprecedented heights. He is married to

iMac
Anuradha Mahindra, who edits three niche magazines.

Anand Mahindra

S ‘Kris’Gopalakrishnan is the co-founder and chief executive officer of Infosys Technologies Ltd.

An IIT-Madras alumnus, Gopalakrishnan is a very soft-spoken and shy person. His net worth is
estimated to be around $1.4 billion.

S ‘Kris’ Gopalakrishnan

Nagavara Ramarao Narayana Murthy is the co-founder, non-executive chairman and chief mentor
of India’s best known software firm, Infosys Technologies Ltd.
Murthy is a globally known and highly regarded entrepreneur.
Power on a pedestal.
iMac sets the standard for elegance and power. It packs a complete, high-performance computer into its all-
in-one design. With an anodized aluminum frame and glass cover, it’s striking to behold. The 20- and 24-
inch glossy widescreen displays make photos and movies come alive with rich color. The use of recyclable
glass and aluminum makes iMac friendlier to the environment, too.

N R Narayana Murthy

Padma Bhushan awardee and Rajya Sabha member Rahul Bajaj is the chairman of Bajaj Auto.

An alumnus of Harvard Business School, Bajaj is an outspoken and fearless entrepreneur. His two
sons, Rajiv Bajaj and Sanjiv, are now handling the Bajaj businesses, under his guidance.

17
Rahul Bajaj
 WLC College of India

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