India-born businessman Lakshmi Mittal finds supporters online in his bid to buy Arcelor, says Sruthijith KK.
Blog In
Steel giant Arcelor’s rejection of Lakshmi Mittal’s takeover bid and the subsequent passions the incident has incited have all the makings of a French thriller. Put together the third-richest man in the world, two major global conglomerates, erstwhile colonisers trapped in a time warp, a chubby-faced yet arrogant Wharton-trained heir apparent, and add some economic nationalism and racism for taste, and voila, you have an eminently bloggable topic.
Satya Prakash from Finland, on his blog ‘My Journey’, dispassionately examines the reasons behind the Mittal steel bid: “In the merged company, by its sheer size, Mittal Steel will have greater bargaining power over suppliers who have increased their prices by 72% in recent times. This will give them an edge over Chinese producers of steel.” He has more to say, of course.
Aruna Ranganathan’s ‘Sinecure’ says why Arcelor is more than a big company for Europe. “Arcelor imbues everything European because of its ownership structure. It is a symbol of European integration.”
While she pins down the root of European discontent, she is furious with the Indian government for getting into the fray. “Why would the Indian government want to put their economy on the line in furthering the interests of one Indian (that too a non-resident) when they turn a blind eye to tens of thousands?”
The most widely blog-quoted article on the matter seems to be Daniel Gross’s Moneybox column on Slate.com. “This prejudice is misplaced, even stupid. The consolidators emerging out of India, the Middle East, and Latin America are far more cosmopolitan and savvy than their European and American counterparts,” he says.
While Amit Banerjee’s ‘Informer’ recommends a Bharat Ratna for Mittal, ‘Global Thinker’ warns France against underestimating Indians: “Mr. Chirac, do not underestimate the Indians, they are not stupid.”
In the Indian blogosphere in particular, it seems like the French season. Apart from opinions of steel, there was Clemenceau and now Chirac’s “whirlwind visit” ahead of the American president’s. Till the Arcelor question is settled at least, French season is unlikely to end.
Don’t miss these
The Dilbert Blog
http://dilbertblog.typepad.com/the_dilbert_blog/. The irrepressible Scott Adams is dishing out some wisdom for clueless grads on what’s awaiting them in the business world. Sample: Preparing a Powerpoint presentation will give you the sweet, sweet illusion of productivity.
Dick Cheney Shooting Incident
A collection of links can be found at the following link:
http://www.arachna.com /roller/page/spidaman/20060219#the_dick_cheney_humor_train
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}