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January 21, 2001, Chandigarh, India   
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Old media turns its back on the Internet
India cautious on transgenic crops
Birla calls for sound corporate governance Apollo Tyres, UB profits
tumble |
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21,000 companies in J&K
vanish Satyam Computer, CCMB sign pact Stolen items make them
richer Milkfed launches programme
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Reference Now baby images on Net Miss Acne-free
contest
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Old media turns its back on the Internet SAN FRANCISCO, Jan 20 — The Internet adventure is ending in ignominy for many traditional media firms. They are cutting back drastically on their online operations after pouring millions of dollars into creating flashy websites that were meant to catapult them into the 21st century. But from the New York Times to NBC, company executives at the media giants are coming to the conclusion that there will never be a payoff from these ambitious investments. In fact, interminable losses are almost guaranteed. So the new strategy sweeping the media world is simple: web operations will become mere marketing tools for the very newspapers, TV shows and magazines that they were once tipped to replace. The roster of the print and TV giants that have announced dramatic cuts in their online staffs since the start of the year makes for sobering reading. The latest cuts came Wednesday when NBCI, the online operation of the US network giant said it was cutting 150 jobs on top of the 170 lay-offs it had announced in August. Earlier this month, the New York Times, one of the web’s most venerable sites, announced it was laying off 69 workers from its Internet operation, which just a few months ago was about to be spun off as a separate company on the Nasdaq. The US branch of Rupert Murdoch’s News International Corp also instigated a major overhaul of its new-media strategy, cutting half of its 450 online jobs and giving the parent networks direct control over their associated websites. Cnn.com, another of the Internet’s best-known sites, is also facing a dramatic reorganization as its parent company slashes 400 jobs from its online staff. Industry experts have been quick to note the irony in these layoffs, which coincided almost exactly with the final approval of the merger of CNN’s parent company, Time Warner, with Internet giant AOL. Almost all these cuts were prompted by expectations of sharply reduced advertising revenue. Worse is yet to come. “We’re just at the beginning of feeling the advertising decline, and we’re seeing the first round of cuts by companies to make their 2001 budgets,’’ media analyst Tom Wolzien said. “We lived in a time when there was a lot of extra money flowing around, and that’s over.’’ Haemorrhaging money is nothing new in the Internet — content websites were losing fortunes even when cash-rich dot coms fuelled an advertising boom. But publishers were willing to absorb these losses for two reasons - both of which have now disappeared: Old media companies genuinely feared the Internet might replace TV and print and would be the perfect interactive selling tool. They were ready to do anything to make sure they were not left out. Also, prior to the dot com shakeout, they also believed that even loss-making websites could be taken public and sold for a huge profit. Now those calculations are as tattered as the restaurant napkins many of them were written upon. “They ramped up with huge staffs and huge amounts of money with the idea that they were going to spin off and go public,’’ Salon.com Chief Executive Michael O’Donnell said about the Internet units of old media firms. “They wouldn’t have ventured that much money in a private venture that wasn’t making money. It was an opportunistic strategy to begin with, and when the market began to dry up, they had to change course.’’ The realignment has exacerbated fears of a catastrophe for pure new-media companies like Salon.com — which is launching a subscription- based “premium service’’ to stave off the wolf. For less respected websites, bankruptcy or sell-outs are more likely
options.
— DPA
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India cautious on transgenic crops NEW DELHI, Jan 20 — The total global hectarage of genetically improved crops in the world is increasing even as a debate rages in India over the use of transgenic crops to provide food security in the country. The use of the much decried and abused genetically modified crops is still in the research stage in India with a few organisations studying its usefulness. However, unlike the trend in one of the world’s largest grower of foodgrains, fruits and vegetables, the world over total hectarage of such transgenic crops increased by 11 per cent in 2000, up from 39.9 million hectares in 1999 to 44.2 million hectares in all six continents. According to the “Global Review of Commercialised Transgenic Crops:2000” compiled by the International Service for the Acquisition of Agri-biotech Applications (ISAAA), the number of countries planting these crops went up to 13 from 12 the year before. Eight of them were industrialised countries and five of them developing nations. “During the five-year period 1996-2000, the number of countries growing transgenic crops were more than doubled, from six in 1996 to 9 in 1998 to 12 in 1999 and now 13 in 2000”, ISAAA said. In India the planting of transgenic crops is still in a nascent stage and it is confined mostly to public sector institutions, like the Indian Agricultural Research Institute and Delhi University, which are doing transgenic researches in rice, tobacco, mustard, potato, tomato, brinjal, cauliflower and cabbage. Efforts are also on to develop some novel crops. For instance the Tata Energy Research Institute, Delhi, Monsanto and Michigan State University are collaborating in the adoption and transfer of technology to develop a “golden mustard” that will yield cooking oil high in beta-carotene (pro-vitamin A), with financial assistance from USAID. Research is also on to develop a novel kind of rice genetically improved by Swiss scientists to deliver beta carotene. The Department of Biotechnology and Sewiss researchers are trying to reach an agreement that will allow plant scientists to insert the tailored gene sequences into popular Indian varieties of rice. Agriculture scientists say that the trend of planting genetically modified crops would increase in the coming years as even the country Agriculture Policy talks about it. According to the policy statement “special attention will be given to development of new crop varieties, particularly of food crops, with higher nutritional value through adoption of bio-technology particularly, genetic modification, while addressing bio-safety concerns.”
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Birla calls for sound corporate governance NEW DELHI, Jan 20 — Eminent industrialist Mr Kumaramangalam Birla has urged companies to put in place a strong corporate governance framework based on sound principles to prevent pitfalls in their operations. “ If we look overseas, the experience of some countries does reinforce, in a dramatic way, the case for sound corporate governance”, Mr Birla said while receiving the Golden Peacock Award for business leadership for 2000. The award was conferred upon him by the Institute of Directors, which also held a concurrent conference on the corporate governance. Sound corporate governance principles instills stronger confidence in investors and prevents conflicts which may lead to loss of jobs, Mr Birla said. It is important the greater transparency is built into the system of functioning of corporates, he said adding that a well-constructed governance structure enhances a company’s competitiveness. Corporate governance goes much beyond the issue of valuations, as companies, which are perceived to be governed well, also enjoy a good image. Listing out the pre-requisites for good corporate governance, Mr Birla said cost competitiveness, strong brands, high levels of service and quality are among the important parameters.
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Apollo Tyres, UB profits tumble Apollo Tyres has reported a sharp decline in the net profit to Rs 1.76 crore in the third quarter of this fiscal from Rs 19.26 crore in the corresponding quarter last fiscal. The net profit has been arrived at without making any provision for taxation which stood to the tune of Rs 7.50 crore in the third quarter of the previous fiscal. The company said, “An allround increase in input cost has affected the margins which could not be passed on to customers due to competitive market conditions.” Net sales during the period increased slightly to Rs 310.95 crore from Rs 301.12 crore while other income came down to Rs 0.78 crore from Rs 5.70 crore in the same quarter of the previous fiscal. United Breweries The net profit of the United Breweries declined marginally in the third quarter of the current fiscal though its income from brewery operations rose marginally by Rs 5 crore. According to the unaudited results for the quarter announced by the company today, the total turnover for the quarter was Rs 70.43 crore, as against Rs 65.43 crore during the same period last year. However for the nine-month period the revenue from the operations stood at Rs 234.59 crore as against Rs 193.63 crore earned during 1999-2000. The net profit from October-December operations stood at Rs 4.75 crore as against Rs 7.16 crore earned during the same period last year. However the net profits for the nine-month operations was nearly Rs 3 crore more than last year and stood at Rs 12.88 crore. This was Rs 1.88 crore more than Rs 11 crore net profit recorded for the entire 1999-2000 fiscal. Birla Ericsson Optical The net profit of Birla Ericsson Optical has increased by 41.49 per cent to Rs 2.66 crore during the third quarter of 2000-2001 from Rs 1.88 crore in the same quarter of 1999-2000. Net sales during the quarter stood higher at Rs 56.10 crore against Rs 41.96 crore last year while other income increased marginally to Rs 0.23 crore from Rs 0.16 crore, company sources said today. Nirma Nirma Ltd on Saturday recorded a 15 per cent drop in its net profit at Rs 64.8 crore during the third quarter ended December, 2000, as compared to Rs 76.3 crore in the same period last year. During the period the company’s gross turnover touched Rs 626.6 crore, up 49.4 per cent from Rs 419.3 crore in the third quarter of last year, a company statement said here. Nirma’s net sales for the quarter was 524.3 crore as compared to Rs 359.5 crore in the same period previous year. Aksh Optifibre Aksh Optifibre on Sunday reported an over 630 per cent increase to Rs 6.03 crore in the first nine months of the current fiscal as against Rs 90.13 lakh profits in the same period the previous year. Net sales rose 76.19 per cent to Rs 85.59 crore in April-December 2000-01 as compared to Rs 48.57 crore sales made in the corresponding period last year. Exide Ind Exide Industries registered its net profit of Rs 6.67 crore during the third quarter of 2000-2001. The net profit depicted a decline of 43.33 per cent compared to Rs 11.77 crore in the corresponding quarter of 1999-2000. — TNS & agencies
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21,000 companies in J&K
vanish JAMMU, Jan 19 — Out of 36,510 industrial units registered up to 1998, including 24,320 tiny units, as many as 21,000 units are either not traceable or have closed down their operation. Industrialists in Jammu and Kashmir have attributed worsening scenario in the industrial sector to “inadequate financing by the financial institutions.” A survey conducted by the government and private agencies has revealed that 65 per cent industrial units are sick, 15 per cent are at nursing stage, and only 2o per cent units are functional which too need the government’s support. In the light of depressing industrial scenario Industries Minister Dr Mustafa Kamal has requested the Centre for a debt relief package for revival of the existing units in the state. He has conveyed to the government the need for approval of the recommendations made by the inter-ministerial committee. He has stated that without the implementation of such recommendations it would not be possible to ensure proper growth of the industrial sector. Dr Kamal has expressed concern over the way the industrial units continue to be under-financed both in respect of term loan and working capital. In more than 80 per cent cases banks have reduced the working capital by 50 per cent and term loan requirement by 30 per cent. It has been only in 20 per cent cases that the bank loans have matched the requirement. The state government is keen that the banks should carry out realistic assessment of the requirements of funds which alone could help the militancy ravaged state come out of the acute industrial depression. It has suggested to the banks to provide at least 20 per cent of the turnover as working capital. The Ministry is unhappy over the way more than one year is wasted between submission of application with project reports and sanction of loans by the financial institutions. |
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Satyam Computer, CCMB sign pact HYDERABAD, Jan 20 (PTI) — Satyam Computer Services and Centre for Cellular and Molecular Biology
(CCMB), today signed an agreement to work together to identify business opportunities for it enabled services in bioinformatics and related fields. As per the agreement, which is valid for five years, both parties will endeavor to work together to capture the knowledge pool available with
CCMB and Satyam’s IT services into bioinformatics-oriented solutions and market them to global customers, according to a release here. Dedicated programme or product solutions will be offered to clients interested in gene research, pharmaceutical research, drug discovery process, drug approval process, genetically engineered molecules in the healthcare and other relevant sectors. The partners will also work towards realising benefits of the convergence of biotechnology and bioinformatics. Dr Laljit Singh, Director,
CCMB, said “we are delighted to partner Satyam in this venture”. Satyam Managing Director
B Rama Raju said, “bioinformatics is an area with significant potential for providing it services globally from India. We are indeed privileged to partner
CCMB in this initiative”. Bioinformatics is a scientific discipline that encompasses all aspects of biological information acquisition, processing, storage, distribution, analysis and interpretation and combines the tools and techniques of biology, physics, chemistry, computer science, information technology and mathematics, the release added. |
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Stolen items make them
richer BHIWANI, Jan 19 — The theft from the closed industrial unit might turned as a big scandal if the police intends a thorough investigation without any political pressure. It might come before public that how some industrialists have become millionaire by instigating bad elements for
theft. Bhiwani is the worst example of such thefts where some industrialists played vital role in winding up leading industries just for their own interests. At present, the thefts from the closing units like Mohta Electro Steels Ltd, Rama Fibres Ltd, and others can be planted as the basis of these conspired thefts where the industrialists deliberately created circumstances due to which hundreds of families had to come on road for their bread and butter. It may be recalled that the police had arrested a gang fortnight ago and recovered electric motors and other costly articles from them which had been stolen from the closed units. The police investigations revealed that the items were stolen mainly from MESL and Rama
Fibres. The police during investigation found that some costly machine parts other than the goods stolen from these units had been absorbed by some other local units. According to latest reports, the police is raiding some units to solve the case and the alleged accused are running from pillar to post to save their skin. Some politicians are being contacted for patch up the matter. The industrialists obviously seem to have fallen into the trap as the stolen goods have key and code numbers and if the liquidator or financial agencies decide to have a thorough check in the care and give the code numbers to the police these industrialists would face police action. It is learnt that the police knows about such so-called big men but will only tighten its grip when liquidator or financers come forward with complaints. In the Mohta Electro Steel or Rama Fibres case, there is a liquidator in charge but since this time no one has claimed the stolen goods and the police is finding it very difficult to whom the goods (stolen) be delivered on surety. SP Dr Suman Manjri told in a press conference that the stolen goods are kept in the police station and none had come to claim these. During deliberations it came to light that a thorough investigation could unearth theft of several crores from MESL alone. The machines work Rs 20 crore were installed in MESL just a few months before its closure in 1993. It is reported that a new form “Micon” had created such an atmosphere in the mill that the owners had to close it down. The big financers after a period of 2-3 years tried to reopen it through calling tenders. A few leading industrialists like
Oswal, Jindal and Kuber groups sent the tender but it is alleged that they were compelled to refrain from bidding. The then government too did not show any interest and its hundreds of employees
became jobless. It is learnt the government is dealing the case with interest. The police is investigating the case but the slow speed of inquiry indicates of some nefarious deal also.
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Milkfed launches programme CHANDIGARH, Jan 20 —Milkfed Punjab and its affiliated milk unions have initiated clean milk production programme which will emphasise on enhancement of milk production by increasing the productivity of milch cattle and improving the operational efficiency of milk plants. Milk Producers’ Cooperative Societies in villages will be provided with technical, managerial, and material inputs by milk unions. According to Dr. B.M. Mahajan, Managing Director of Milkfed, a Mehylene Blue Reduction Time (MBRT) based incentive scheme has also been introduced under the programme. Mr. Mahajan stated in a press release that the milk unions will also undertake Mastitis Control Programme, Co-operative Institutional Building Programme. |
Zydus Cadila Bharat Petro Eid Parry FM radio industry |
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Reference Q: Can a high court examine contentions of respondent as if sitting in appeal on the reference made U/s 10 of the I.D. Act? Ans: The SC of India in Harnam Singh v Punjab State Electricity Board (2000-II-LLJ 1413), took the view thus: The appeal is against the order of the HC quashing the reference made to the Labour Court U/s 10 of the I.D. Act. The contentions raised before the HC by the respondents were that government had not taken note of contentions raised by respondents that appellants were not working under them and their claim was related inspite of the Concilliation Officer and the reference proceeded under the assumption that appellants were workmen under the respondent and that their services were terminated without any notice, charge-sheet, enquiry and compliance with S.25F of the I.D. Act. The court allowed the appeal and directed the Labour Court to adjudicate the reference as ordered by government. The SC observed that they were surprised to note that the HC should not have proceeded to examine the original record of the Concilliation Officer and of the government to arrive at the decision to find out that when the petitions have disputed the claim that they were working under them, the government ought to have made reference to that question. The government has completely ignored the fact that contesting respondents had invoked the provisions of the I.D. Act more than 12 years after the alleged termination of service when they have not given any explanation for this inordinate delay. The government has failed to do so. When government has failed to do so, it is open to the court to exercise its jurisdiction under Art. 226 of the Constitution. In that way, the SC allowed the present appeal. |
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Now baby images on Net SINGAPORE: Anxious new parents can now view over the Internet live images of their babies slumbering in a Singapore hospital cot. Parents, using their own computers at work or home, simply key in their passwords at Singapore’s Thomson Medical Centre (TMC) website to access live video feeds of their infants. ViewBaby, launched yesterday, will be available for six hours daily. Two cameras installed at the TMC’s special care ward transmit images of the baby in the cot. “We’re fulfilling the need for a very special group of parents who are not able to visit their babies physically,’’ Leong Yew Meng, TMC’s Chief Executive Officer, told Reuters. Premature babies or those needing special care usually have to stay in hospital for an extra three days to a week, Leong said. But the local custom of a month’s home confinement for a mother after childbirth meant she could not visit her hospitalised baby. Leong added that new fathers often had to be at work. “They’re very anxious. They just want to see that the baby is OK.... (now) they can log on,’’ Leong said. “We know that the technology is available easily.’’ The webcasting technology that ViewBaby uses has been used for corporate video-conferencing and to broadcast Madonna’s latest concert. The hospital invested S10,000 dollars ($ 5,747) in the pilot project and has not decided what it will charge for the service
— Reuters Miss Acne-free
contest BANGKOK: Sparkling personalities and plenty of pimples will be the winning attributes for 200 semi-finalists who will be flaunting their stuff this weekend in a bid to enter the Miss Acne-free 2001 contest, a news report said yesterday. Organisers of the unique contest, which is scheduled in March, are on the look-out for 40 finalists who can boast the biggest collection of facial blemishes when they gather to compare acne problems this Sunday, said the Nation Newspaper. Organisers of the contest said the 40 finalists will be provided with a month’s worth of facial treatment before they compete in the Miss Acne-free beauty pageant, which is intended to boost the confidence of young women with facial problems. “The winners are not rated on superficial beauty but whether they possess sparkling personalities,’’ said organizer Watanyu Mungmai. Thailand is no stranger to offbeat beauty contests. A “Jumbo Queen’’ beauty contest, that celebrates female fatness, is held annually at the Nakorn Phathom Crocodile Farm, which also features elephants. — DPA |
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BPL offer Vaibhav Gems Company Secy Cadila’s Juan Forex reserves Parbati project |
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