I read in the 'Business Standard' that 90% (thats NINETY PER CENT....) of the stocks in Indian Stock Markets are trading below their IPO price.... Another news making rounds is that Pakistan is on the verge of Bankruptcy.... According to a report from Pakistan's Finance Ministry, they have just 2.48 billion dollars, which can't even buy food for Pakistan more than a month......
Till now, I've only heard large MNCs getting bankrupt.... Now its the turn of countries.....
The other day, there was a furore in India (read :: sponsored by the Thackeray cousins) when the largest domestic airlines 'Jet Airways' cut down 1900 'temporary' (means :: not permanent) jobs. This issue had taken a political colour. Raj Thackeray-led MNS threatened Jet of stalling their operations if all the ex-employees were not taken back. Ultimately, Jet had to take its ex-employees back.
The Stock Market in India is suffering an all-time low.... The Sensex has reached below the 5-figures and is currently running in 4-figures.... Its the same Sensex that had reached 21000+ less than a year ago....
The investors are doomed.... Such is life....
And such is the economic recession.... The Fall... The Great Fall...
2008 will be remembered for a great great Fall....
EXCEPTIONS :
There are a few exceptions to this great fall.... One being Sachin Tendulkar.... This great Indian batsman has just reached a landmark 12000 runs in Test cricket after breaking Brian Lara's record of 11953 runs..... Another being soon-retiring-greatest-Indian-captain-ever Sourav Ganguly slamming his 16th Test ton against Australia giving a tough answer to his critics....
I just loved the statement Sachin Tendulkar gave in the press conference.... He said
"People threw stones at me. I turned them into milestones."
Exceptions are always there.... Isn't it?
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