Thursday 27 December 2012

Due to Global Recession Even Infosys Ltd has again deferred the Joining dates of about half of the 35,000 employees Mostly from different Campuses.

The Bangalore-based IT major was expected to recruit about 35,000 employees, including 26,000 from campuses across various cities,

Will now recruit 17,000 in the first half of next fiscal

Infosys Ltd has again deferred the joining dates of about half of the 35,000 employees it planned to recruit this fiscal because of a continued run of sluggish growth.


Last month, the IT major said that it would defer hiring of 17,000 new recruits by three months, but even this looks unlikely now.

It now plans to defer recruitment of 17,000 to the first half of next fiscal (2013-14). This will also affect the prospects of 6,000 campus recruits who will now be recruited during FY14.

The Bangalore-based IT major was expected to recruit about 35,000 employees, including 26,000 from campuses across various cities, this fiscal (2012-13). But the FY13 gross hiring could fall short of the guidance that they had given out in the first quarter this fiscal. Among fresh hires, the number will now be reduced to 20,000. However, onsite hiring will continue to be maintained at about 2,000.

As Infosys has slipped into the silent period ahead of its third-quarter results on January 11, its spokesperson referred to an announcement from the company in November this year which stated that there are no plans to reduce the total number of recruitments, though a part of the recruitments will be deferred by three months to January this fiscal.

An analyst with Axis Capital said the December quarter for Infosys will be muted. “The September quarter saw strong momentum in large deals and volume growth. However, momentum has not sustained in Q3 impacting new deal visibility,” the analyst, Priya Rohira, Executive Director, IT & Telecom, wrote in a note. Hence, hiring dates of campus recruits will be deferred, the analyst said.

Analysts with IDFC said for the company, supply of talent is not an issue, given the sluggish volume growth across the industry. However, improving utilisation from the current 72 per cent, excluding BPO employees and trainees, to a level of 76-80 per cent, remains a priority for the management.

“We believe the company would also take a relook at visibility, and a downward revision of organic growth guidance cannot be ruled out,” the IDFC analysts said.

An analyst with Tata Securities said they expect the company to miss its EBITDA margin guidance, given the pressure on revenue growth. He also said that in case the US fiscal cliff event happens, there is likelihood of clients delaying their calendar year 13 budget cycle or deferring their spending till clarity emerges.

The recession that keeps on taking
Chicago Tribune
The respectfully nicknamed Great Recession officially ended in June, 2009, and the wounds from that economic collapse have been slow to heal. Yet even a robust recovery, as the nation experienced after the double-dip recessions of the early 1980s...
See all stories on this topic »

Chicago Tribune
Poll: Majority expect recession in 2013
The Hill (blog)
A full 70 percent of voters told the conservative-leaning pollster Rasmussen they expect a recessionnext year if Congress fails to stop the tax increases and spending cuts that are set to begin in January. But even if lawmakers take action before the ...
See all stories on this topic »
All Signs Pointing to Recession?
Fox Business
Details. Description. Jim Lebenthal, Lebenthal Asset Management president, on the chances of the economy falling back into recession, and how this will impact the markets. Duration 4:47; Date Dec 26, 2012. Advertisement ...
See all stories on this topic »
The Great Republican Recession of 2013 is Now Five Days Away
Mother Jones
After the failure of his fiscal cliff negotiations with the White House, followed by his humiliating inability to get even his ridiculous "Plan B" proposal approved by House Republicans, John Boehner gave up and punted the whole thing over to the ...
See all stories on this topic »

Mother Jones
Rasmussen Survey: Recession Likely, Fiscal Cliff Deal or Not
Most Americans expect the U.S. economy to slide into a recession next year whether policymakers avoid the fiscal cliff or not, a new Rasmussen Reports survey finds. The White House and Congress remain at odds over fiscal reforms, and failure to agree ...
See all stories on this topic »
French share their way through recession
The French are responding to Europe's stagnant economy by sharing rather than consuming. People have seen that statistically, most people with a power drill use it for 12 seconds each year, so now they are wondering: why bother buying one? The same ...
See all stories on this topic »
The Recession Ends, Mobility Stays Hot in 2013
IT Business Edge (blog)
The New York Times has an interesting story in its Dealbook section floating the premise that venture and investment money is flowing into less glitzy and, presumably, less risky projects. Instead, Nicole Perlroth writes, the projects being favored are ...
See all stories on this topic »
A Last Look At 2012 Recession Indicators
Seeking Alpha
recession is generally defined by the NBER as a substantial downturn in production, employment, sales, and income. Now that the November numbers are in, let's take a last look for where those numbers stand in 2012. The St. Louis FRED site directs us ...
See all stories on this topic »

Tuesday 25 December 2012

Never run out of Airspeed, Altitude and Ideas at the same time"

T'was thenight before Christmas, and out on the ramp,
Not an Airplane was stirring, not even a Champ.
The Aircraft were fastened to tie downs with care,
In hopes that -- come morning -- they all would be there.

The fuel trucks were nestled, all snug in their spots,
With gusts from two-forty at 39 knots.
I slumped at the fuel desk, now finally caught up,
And settled down comfortably, resting my butt.

When the radio lit up with noise and with chatter,
I turned up the scanner to see what was the matter.
A voice clearly heard over static and snow,
Called for clearance to land at the Airport below.

He barked his transmission so lively and quick,
I'd have sworn that the call sign he used was "St. Nick."
I ran to the panel to turn up the lights,
The better to welcome this magical Flight.

He called his position, no room for denial,
"St. Nicholas One, turnin' left onto final."
And what to my wondering eyes should appear,
But a Rutan-built sleigh, with eight Rotax Reindeer!

With vectors to final, down the glideslope he came,
As he passed all fixes, he called them by name:
"Now Ringo! Now Tolga! Now Trini and Bacun!
On Comet! On Cupid!" What pills was he takin'?

While controllers were sittin', and scratchin' their heads,
They phoned to my office, and I heard it with dread,
The message they left was both urgent and dour:
"When Santa pulls in, have him please call the tower."

He landed like silk, with the sled runners sparking,
Then I heard, "Left at Charlie," and "Taxi to parking."
He slowed to a taxi, turned off of three-oh,
And stopped on the ramp with a "Ho, ho-ho-ho..."

He stepped out of the sleigh, but before he could talk,
I ran out to meet him with my best set of chocks.
His red helmet and goggles were covered with frost,
And his beard was all blackened from Reindeer exhaust.

His breath smelled like peppermint, gone slightly stale,
And he puffed on a pipe, but he didn't inhale.
His cheeks were all rosy and jiggled like jelly,
His boots were as black as a cropduster's belly.

He was chubby and plump, in his suit of bright red,
And he asked me to "fill it, with hundred low-lead."
He came dashing in from the snow-covered pump,
I knew he was anxious for drainin' the sump.

I spoke not a word, but went straight to my work,
And I filled up the sleigh, but I spilled like a jerk.
He came out of the restroom, and sighed in relief,
Then he picked up a phone for a Flight Service brief.

And I thought as he silently scribed in his log,
These reindeer could land in an eighth-mile fog.
He completed his pre-flight, from the front to the rear,
Then he put on his headset, and I heard him yell, "Clear!"

And laying a finger on his push-to-talk,
He called up the tower for clearance and squawk.
"Take taxiway Charlie, the southbound direction,
Turn right three-two-zero at Pilot's discretion"

He sped down the runway, the bestof the best,
"Your traffic's a Grumman, inbound from the west."
Then I heard him proclaim, as he climbed through the night,

"MerryChristmas to all! I have traffic in sight."

"Never run out of Airspeed, Altitude and Ideas at the same time"

A Good Pilot is Always Learning

Thursday 20 December 2012

After Global Recession, More Young Adults Are Living on Street in Canada, UK and USA

Duane Taylor was studying the humanities in community college and living in his own place when he lost his job in a round of layoffs. Then he found, and lost, a second job. And a third.

Now, with what he calls "lowered standards" and a tenuous new position at a Jack in the Box restaurant, Mr. Taylor, 24, does not make enough to rent an apartment or share one. He sleeps on a mat in a homeless shelter, except when his sister lets him crash on her couch.

"At any time I could lose my job, my security," said Mr. Taylor, explaining how he was always the last hired and the first fired. "I'd like to be able to support myself. That's my only goal."

Across the country, tens of thousands of underemployed and jobless young people, many with college credits or work histories, are struggling to house themselves in the wake of the recession, which has left workers between the ages of 18 and 24 with the highest unemployment rate of all adults.

Those who can move back home with their parents — the so-called boomerang set — are the lucky ones. But that is not an option for those whose families have been hit hard by the economy, including Mr. Taylor, whose mother is barely scraping by while working in a laundromat. Without a stable home address, they are an elusive group that mostly couch surfs or sleeps hidden away in cars or other private places, hoping to avoid the lasting stigma of public homelessness during what they hope will be a temporary predicament.

These young adults are the new face of a national homeless population, one that poverty experts and case workers say is growing. Yet the problem is mostly invisible. Most cities and states, focusing on homeless families, have not made special efforts to identify young adults, who tend to shy away from ordinary shelters out of fear of being victimized by an older, chronically homeless population. The unemployment rate and the number of young adults who cannot afford college "point to the fact there is a dramatic increase in homelessness" in that age group, said Barbara Poppe, the executive director of the United States Interagency Council on Homelessness.

The Obama administration has begun an initiative with nine communities, most of them big cities, to seek out those between 18 and 24 who are without a consistent home address. New York, Houston, Los Angeles, Cleveland and Boston are among the cities included in the effort.

"One of our first approaches is getting a more confident estimate," said Ms. Poppe, whose agency is coordinating the initiative.

Those who provide services to the poor in many cities say the economic recovery has not relieved the problem. "Years ago, you didn't see what looked like people of college age sitting and waiting to talk to a crisis worker because they are homeless on the street," said Andrae Bailey, the executive director of the Community Food and Outreach Center, one of the largest charitable organizations in Florida. "Now that's a normal thing."

Los Angeles first attempted a count of young adults living on the street in 2011. It found 3,600, but the city had shelter capacity for only 17 percent of them.

"The rest are left to their own devices," said Michael Arnold, the executive director of the Los Angeles Homeless Services Authority. "And when you start adding in those who are couch surfing and staying with friends, that number increases exponentially."

Boston also attempted counts in 2010 and 2011. The homeless young adult population seeking shelter grew 3 percentage points to 12 percent of the 6,000 homeless people served over that period.

"It's a significant enough jump to know that it's also just the tip of the iceberg," said Jim Greene, director of emergency shelters for the Boston Public Health Commission.

In Washington, Lance Fuller, a 26-year-old with a degree in journalism, spent the end of last month packing up a one-bedroom apartment he can no longer afford after being laid off. Mr. Fuller said he had been unable to keep a job for more than eight months since graduating from the University of Florida in 2010.

"Thankfully, I have a girlfriend who is willing to let me stay with her until I get back on my feet again," said Mr. Fuller, who writes a blog, Voices of a Lost Generation. "It's really hard for people in my generation not to feel completely defeated by this economy."

Mr. Taylor, the fast-food worker in Seattle, said he felt lucky when he could find a coveted space at Roots, a shelter for young adults in a church basement. Such shelters are rare.

For generations, services for the homeless were directed to two groups: dependent children and older people. There was scant attention focused on what experts now call "transitional age youth" — young adults whose needs are distinct.

"I see them coming back day after day, more defeated, more tired out, wondering, 'When will it be my turn?' " said Kristine Cunningham, executive director of Roots. "And it's heartbreaking. This is the age when you want to show the world you have value."

They need more than just clean clothes and shelter to move into a secure adulthood, experts say. "They want a way out," said Ms. Poppe, whose agency is also gathering evidence on what kinds of programs and outreach work best. "They want an opportunity to develop skills so they are marketable in the long term."

"A more individualized approach seems to work," she added.

But two obstacles stand in the way: young adults, eager for independence, are reluctant to admit that they need help and housing. And shelters designed with young adults in mind — those with career and trauma counseling, and education and training programs — are usually small.

Roots holds only 35 people, and a nightly lottery decides who gets a spot, which includes meals, laundry services and counseling. It is expanding to 45 beds.

Anna Wiley, 20, and her boyfriend, Bobby Jollineau, 24, spent several nights at Roots two weeks ago, but were unable to get in one night in November. "We ended up sleeping outside," Mr. Jollineau said. "I have a sleeping pad and a really warm sleeping bag. There's a couple of nooks and crannies that are safe around here, but you have to be careful. It can make for a rough night."

Asked whether she could go to her parents' home, Ms. Wiley said that her father is unemployed and that her mother works in a deli, making about as little as she does.

"I don't like relying on other people too much, anyway," she said.

Across town, Roman Tano, 20, woke up recently at YouthCare's James W. Ray Orion Center, another shelter for young adults that offers training programs. In October, its capacity grew to 20 beds from 15.

Two months ago, Mr. Tano gave up an apartment in his native Dallas after losing his job. He sold his Toyota and sought opportunities in the Pacific Northwest.

He rented a room and set out with his rsum (expertise: fund-raising). But when his $2,000 in savings withered to nothing, "I ended up sleeping on the street for the first time in my life," he said. "I just kind of had to walk around and try to stay warm."

Mr. Tano found the YouthCare shelter online, and has been staying there for a month. He has a new job as a canvasser for an environmental organization.

"Coming into it, I was, like, completely out of my element," he said of YouthCare. "But in the time I've been here, it's a pretty diverse group of people. There are a lot of people just trying to work to get out of this."

"After I get my paycheck," he said brightly, "I should be on my way."

Dutch government's think-tank in recession call - US News and World Report
U.S. News & World Report
AMSTERDAM (AP) — The Dutch government's financial think-tank has joined the central bank in forecasting a recession in 2013 as a result of waning global trade prospects. The Central Planning Bureau said Wednesday the Dutch economy would shrink 0.5 ...
See all stories on this topic »
Pimco Says ECB May Use QE as Recession Looms in Germany, France
Pacific Investment Management Co., the manager of the world's largest mutual fund, said the European Central Bank may need to cut interest rates and do quantitative easing as recessions loom in the region's two biggest economies. It's “likely” that the ...
See all stories on this topic »
After Recession, More Young Adults Are Living on Street
Across the country, tens of thousands of underemployed and jobless young people, many with college credits or work histories, are struggling to house themselves in the wake of the recession, which has left workers between the ages of 18 and 24 with the...
See all stories on this topic »
UN report warns of second recession on EU, US conditions - Indian Express
Indian Express
The United Nations has lowered global economic growth forecast for the coming two years even as it warned of a new global recession due to the US fiscal cliff situation and EU debt crisis. It also said inflationary pressures and large fiscal deficit ...
See all stories on this topic »
Why a recession may be coming no matter what fiscal-cliff deal is reached
MarketWatch (blog)
Spoiler alert: We could already be in a recession. This is not the conventional wisdom. The common narrative goes some like talks look ugly, but in the end things will get resolved either before Jan. 1 or later in the month and the economy gets a new ...
See all stories on this topic »
Graphic: Comet's collapse and other post-recession retail failures
The British furniture and kitchens giant was the first casualty of the global recession. After negotiations failed over MFI's wish for a three-month rent holiday, on 19 December every one of MFI's 111 stores across the country were closed along with ...
See all stories on this topic »
Gregoire on budget: More revenue or deeper recession
Seattle Post Intelligencer (blog)
“If adopted, this budget would keep our state mired in recession.” The “Book Two” budget, with revenue increases, is “a step in the right direction,” Trupin added. “We need a state budget that gets people back to work and builds a prosperous future ...
See all stories on this topic »

Seattle Post Intelligencer (blog)
Recession taking its toll on men
the Irish News
At Christmas, many people already under pressure due to the financial crisis will feel stretched to breaking point. Southern correspondent Valerie Robinson reports on how the recession has highlighted the vulnerability of men in particular to the ...
See all stories on this topic »
The Coming Evangelical Recession?
Patheos (blog)
Whereas America is focused on its fiscal cliff and the possibility of an economic recession, over in a NT Times piece, John Dickerson predicts the coming Evangelical Recession in America. IT hasn't been a good year for evangelicals. I should know. I'm ...
See all stories on this topic »
Kim Bielenberg: Recession was no barrier to the young Irish innovators
Irish Independent
THE four Irish innovators who feature in the Forbes list of "30 under 30" to watch in 2013 show that there is economic life beyond the grim world of bust builders and inept bankers. Our sixth austerity budget in a row may have caused us to dwell ...
See all stories on this topic »

Dallas Cowboy Josh Brent has bail reduced to $100,000, is prohibited from drinking alcohol

 Dallas Cowboy Josh Brent has bail reduced to $100,000, is prohibited from drinking alcohol

Dallas Cowboys defensive lineman Josh Brent was driving without a valid license this month when he drove drunk and crashed his car, killing his teammate and best friend, Jerry Brown Jr., authorities say.
That information emerged Tuesday during a hearing in which Brent’s bail was reduced from $500,000 to $100,000.

Leather thief: Sofa, recliners, Dallas Cowboy jackets stolen from South Jersey ...
The Star-Ledger -
BRIDGETON — Several hundred dollars worth of leather furniture and clothes were reportedly taken in a burglary on Elm Street Tuesday, police said. A resident on the street reported that they came home at around 8:30 p.m. to find that someone had ...
See all stories on this topic »

The Star-Ledger -
Dallas Cowboy Josh Brent has bail reduced to $100000, is prohibited from ...
Dallas Morning News
Dallas Cowboys defensive lineman Josh Brent was driving without a valid license this month when he drove drunk and crashed his car, killing his teammate and best friend, Jerry Brown Jr., authorities say. That information emerged Tuesday during a ...
See all stories on this topic »

Dallas Morning News
Stillwater Sports Minute: Oklahoma State to open 2014 at Cowboy Stadium ...
Stillwater News Press
STILLWATER, Okla. — The Oklahoma State Cowboys will launch their 2014 football season with a neutral field game against the Florida State Seminoles in Cowboys Stadium in Arlington, Texas. The official announcement was made today by OSU, Florida ...
See all stories on this topic »
Around The NFL: Sanchez Benched, Cowboy Barred And Belcher's Foreboding ...
CBS Local
There are many things in this world that don't make a whole lot of sense to the lot of us, and that includes the actions of some of those in the NFL. After all, players and coaches are still human and do things that leave so many of us scratching our ...
See all stories on this topic »

CBS Local
Hard yards lead to Cowboy success: Johnson
Townsville Bulletin
The hard-working Tableland product and former Melbourne Storm player knows a winning team when he sees one, and he believes the Cowboys are doing the necessary hard yards for a successful year of football. "We're coming along pretty well and for a ...
See all stories on this topic »
Bond lowered for Cowboy Brent, must wear monitor
MICHAEL MULVEY/ASSOCIATED PRESSDallas Cowboys nose tackle Josh Brent, right, is surrounded by media after leaving court Tuesday in Dallas. A judge ordered Brent to wear an electronic monitor pending his trial on an intoxication manslaughter ...
See all stories on this topic »
Cowboy hat, guitar and songs starts off this romance story
Central Queensland news
THE love story of the year comes from Lorelei and Lester Pemberton, who took their vows in a unique and beautiful service at Mercure Capricorn Resort last week. Lorelei said the couple met seven years ago in New Zealand when Lester came to New ...
See all stories on this topic »
Lasso Coatrack Is Probably Supported By Cowboy Sorcery
Gizmodo Australia
Lasso Coatrack Is Probably Supported By Cowboy Sorcery. Andrew Liszewski Today 10:30 PM. Share Discuss Bookmark. There's always been some kind of mystique about the wild west andcowboys. And if you've ever stared in awe while they roped a cattle ...
See all stories on this topic »

Wednesday 19 December 2012

All Big Bosses of Kingfisher Plc (KGF) leaving Kingfisher Executive Sutherland Steps Down to Run Co-Op

Kingfisher Plc (KGF)’s Chief Operating Officer Euan Sutherland, regarded by analysts as a possible successor to Chief Executive Officer Ian Cheshire, is leaving the U.K. retailer to run the Co-Operative Group Ltd.
The departure of the 43-year-old, who joined the London- based company in 2008 as head of the B&Q home-improvement chain, “will be a disappointment to investors,” Jamie Merriman, an analyst at Sanford C. Bernstein in London, said in a note today.
Sutherland was named COO in February and only joined the main board of the retailer in October. He will remain in his current role until March 2013 to allow an “extensive handover” of responsibilities, Kingfisher said today in a statement.
Sutherland was “viewed as a credible successor to Ian Cheshire,” Freddie George, an analyst at Seymour Pierce in London, said by e-mail. “He was, in our view, a major contributory factor in the recovery of the U.K. business over the last five years and more latterly was responsible for the company’s key self-help initiatives.”
Kingfisher shares fell as much as 0.9 percent in London and were little changed at 276.8 pence as of 8:20 a.m.
Cheshire praised the contribution of Sutherland in almost five years at the company. The executive “played an important role in the successful development of the group,” he said.
Declining Profit
Kingfisher “has great strength and depth in its management, and I will personally be involved in the transition as Euan’s responsibilities are handed over,” the CEO said.
Kingfisher is among consumer-goods companies that have been squeezed as challenging markets in the U.K. and mainland Europe reduce sales. It reported a decline in third-quarter profit Nov. 29 as earnings fell in France, where it operates Castorama and Brico Depot home-improvement stores, as house building slowed.
Sutherland, who has been a non-executive director of mutually owned retailer Co-Op’s food business for two years, “brings with him considerable experience of the strategic leadership needed in complex customer-facing businesses, across a variety of retail sectors,” Len Wardle, chairman of the Co- Operative Group, said in a separate statement.
“I am very pleased to be given the opportunity to lead the organization at this important time,” Sutherland said in Co- Op’s statement. “The challenge is to build upon the success that has been achieved in recent years.”
To contact the reporter on this story: Clementine Fletcher in London at

Kingfisher Executive Sutherland Steps Down to Run Co-Op
Kingfisher Plc (KGF)'s Chief Operating Officer Euan Sutherland, regarded by analysts as a possible successor to Chief Executive Officer Ian Cheshire, is leaving the U.K. retailer to run the Co-Operative Group Ltd. The departure of the 43-year-old, who ...
See all stories on this topic »
If not by 31 Dec, Kingfisher can submit revival plan in 2 yrs
The government has invoked a provision wherein Kingfisher Airlilne can submit a revival plan in two years even if its flying licence expires on 31 December, reports the Economic Times. This should come as a big relief to the company and its Chairman ...
See all stories on this topic »

DGCA asks Kingfisher Airlines to furnish flight plan
Economic Times
NEW DELHI: The civil aviation regulator, DGCA, has asked Vijay Mallya's KingfisherAirlines to furnish a concrete plan on issues such as "adequate working capital, airworthiness of planes and settling employee dues," failing which, they saidKingfisher ...
See all stories on this topic »

Economic Times
Kingfisher must satisfy DGCA before Dec 31
After Kingfisher Airlines told its lenders yesterday that the carrier is ready to resume partial operations by February, aviation minister Ajit Singh reacted on the move. “Kingfisher must satisfy DGCA with a credible revival plan to get its licence ...
See all stories on this topic »
Kingfisher loses its heir apparent to Co-op
Interactive Investor
LONDON (Reuters) - European home improvement retailer Kingfisher lost its heir apparent on Wednesday with the resignation of chief operating officer Euan Sutherland. Sutherland, considered a likely candidate to succeed Kingfisher's chief executive Ian ...
See all stories on this topic »