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sambala  [ Belongs to: Platinum Circle ]

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Joined on: 16th Aug 2003
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Om Namo Bhagavathe Sri Ramanaya

Who Am I? (Nan Yar?)

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US sees $1.3 tn wealth erosion in `09 first quarter

WASHINGTON: With recession extending its grip on the US economy, the country witnessed wealth erosion of USD 1.3 trillion,much more than India`s GDP, in the first three months of 2009.

The Americans saw their wealth tumble to USD 50.4 trillion in January-March period against USD 51.7 trillion at the end of 2008. The total loss of USD 1.3 trillion is higher than the value of Indian economy, which is little over USD 1 trillion.

According to the figures from the US Federal Reserve, the household net worth or wealth of Americans, declined to USD 50.4 trillion in the first quarter of 2009.

"Household net worth, the difference between the value of assets and liabilities, was an estimated USD 50.4 trillion at the end of the first quarter of 2009, USD 1.3 trillion less than at the end of 2008," the Federal Reserve`s report `Flow of Funds Accounts of the United States` said.

Going by the official estimates, the size of Indian economy, the second fastest growing after neighbouring China, is USD 1.04 trillion (Rs 4,933,183 crore).

Despite the global financial turmoil, in the first quarter of 2009, India`s GDP recorded a growth of 5.8 per cent while the US economy shrank 5.7 per cent during the same period. The Indian economy grew by 6.7 per cent during the fiscal year ended March 31, 2009.

The Federal Reserve report said household debt stood at USD 13.8 trillion in the first quarter of this year.

"At the end of the first quarter of 2009, the level of domestic non-financial debt outstanding was USD 33.9 trillion; household debt was USD 13.8 trillion, non-financial business debt was USD 11.2 trillion, and total government debt was USD 9 trillion," the report noted.

Rattled by the worst financial crisis in nearly 80 years, the US is mired deep in recession.

The Federal government has unveiled a slew of measures since September last year when the then-famed Lehman Brothers went bankrupt. The administration has also come up with massive stimulus package worth USD 787 billion to bolster the sagging economy.

The Federal Reserve said growth rate of the government debt fell to 23 per cent in the first three months of 2009. "Federal government debt growth slowed to 23 per cent in the first quarter, following two quarters of growth rates of nearly 40 per cent," the report noted.

Further, state and local government debt increased at an annual rate of 5 per cent in the first quarter, following a small decline during the previous quarter.

Federal Reserve Chairman Ben S Bernanke recently said the recession-hit US economy is expected to witness an upturn later this year.

PTI

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A 96-yr-old Taiwanese man to receive masters degree

TAIPEI: A 96-year-old Taiwanese man who will receive his master`s degree in philosophy this weekend said he was able to compete with younger students by pulling all-nighters before exams.

Chao Mu-he, better known to his classmates at Nanhua University in southern Taiwan as “Grandpa Chao,” said he began graduate school after being told he was too old to continue as a volunteer at a local hospital.

“I was bored after I left the hospital,” Chao said on Thursday. “I don`t play mahjong or have other hobbies. I felt I had to do something with my life.” In London, a spokeswoman for Guinness World Records said she could not say if Chao is the oldest recipient of a graduate degree because the company does not keep records in this category.

Chao said the most difficult part of his studies was coping with a poor memory. “I can`t remember things as well as my fellow students,” he said. “So before a test I would wake up at midnight and study all night. That way, the material was still fresh in my mind when the test began.”

He specialized in the works of Chuangtze, a 4th century BC Taoist master. Twenty-five-year-old classmate Liang Yu-chen described Chao as a polite and modest man who got on well with fellow students and paid great respect to younger teachers - making a deep bow before addressing them.

“Grandpa Chao is a living example of Chuangtze`s teachings,” Liang said. “He is always at ease, not fighting anyone.” A spokeswoman at Nanhua`s graduate school, where Chao will get his degree Saturday, confirmed that he was born on July 4, 1912. Chao, who lives alone, said he was uncertain about his future plans. “I just want to stay healthy,” he said.
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US ex-president Bush celebrates 85th birthday with skydive

NEW YORK: Former US president George H W Bush enjoyed his 85th birthday in style on Friday with a 3,200 meter (10,500 foot) tandem parachute jump -- and pledged to do the same at age 90.

Bush, president from 1989 to 1993, made his first jump over half a century ago as a pilot during World War II, when his plane was crippled over the Pacific.

"It still feels good. You still get a charge out of it," he told CNN television after the almost three kilometer (two miles) high leap in Kennebunkport, Maine, near his summer home.

Watched over by wife Barbara, his son former president George W. -- who left office in January -- and another son, former Florida governor Jeb Bush, the 41st US leader made the jump harnessed to a member of the US Army parachute team.

He said he hoped his extreme birthday celebration could be inspire other senior citizens.

"You can go out and get something done," he told the network.

"Just because you`re old, that doesn`t mean you can`t do fun stuff. And you don`t want to sit around drooling in the corner," he added. "It`s a wonderful release."

Bush famously made jumps on his 75th and 80th birthdays and, he pledged, he hopes to make another on his 90th.


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Jewel`s Day Out

While there are no exact estimates of the value of the jewellery of Lord Venkateswara, since many of these gifts have a high antique value, temple sources peg the entire jewellery property to be worth anywhere between Rs.30,000 crore and Rs 50,000 crore.

All these precious jewels are safe guarded inside the sanctum sanctorum at a sacred hall called Bokkasam (Jewel Gallery), which is guarded by half a dozen armed security personnel and has CCTV cameras installed to monitor every movement in arguably one of the world`s richest treasury. There is, in fact, a Thiruvabharanam (holy jewels) register meant to list out the jewellery items. The register has been maintained strictly for gold and diamond studded offerings from the time TTD took over charge of the temple in 1933.

The precious jewels leave the treasury only on special occasions - auspicious days when the Lord is adorned in the diamond-studded love of his devotees. For such auspicious days, the temple priests give the list of jewels needed for the Lord`s decoration a day in advance to the temple peshkar and Bokkasam-in-charge. They, under the supervision of temple deputy executive officer, assistant executive officer, and in the strict vigil of security personnel, open the Thiruvabharanam box and take out the items. These items are later returned in the same manner.


TOI

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Richest lord of Kaliyuga


The diamond-studded crown gifted to Lord Venkateswara may be the latest, most publicised gift, but it is by no means the only valuable offering made to the deity at Tirumala...

The Rs 42 crore diamond-studded 2.5 feet tall crown gifted by Karnataka tourism minister Gali Janardhan Reddy on Thursday could be the most significant contribution to Lord Venkateswara`s ever growing wealth of gifts but the Lord of the Seven Hills has by now become so familiar with these riches that few are surprised by this latest offering. His riches are such that they are guarded by armed security personnel in a treasury, the location of which remains a closely guarded secret by top brass of the temple . With the total worth of the offerings made to the Lord estimated to be somewhere between Rs 30,000 crore to Rs 50,000 crore, the deity`s title of the `Richest Lord of Kaliyuga` is not without reason.

Devotees enrich Tirumala treasury
While Gali`s gift was the seventh crown offered to the Lord, the earlier crowns in his glittering kitty were no small gifts either. In the past, Sri Venkateswara Hatcheries ` owner had gifted a gold crown weighing 13 kg and another business tycoon gifted a 10 kg gold crown. In 2001, an industrialist from Pune had donated a pure gold crown weighing about 14.3 kg costing nearly Rs 1 crore.

Gold and diamond-studded gifts have been streaming into the Tirumala Tirupati Devasthanam`s coffer regularly, more so in the last three to five years. From a diamond parrot to a golden prawn, the `Srivari Hundi` is glittering like never before since the beginning of this millennium. The Tirumala Tirupati Devasthanam (TTD) officials say that the donations have touched an all time high mark since 2005.

In 2005, a businessman from Tamil Nadu donated a valuable golden crown studded with precious American diamonds to the processional deity of Lord Malayappa Swamy, the cost of which was estimated as Rs 2 crore. In 2006, Lord Venkateswara received his most precious set of ear rings (Karnaabharanaalu) when a devotee from Chennai, Alagappa Chettiyar offered diamond studded Karna Patralu worth Rs.1.01 crore and if this offering wasn`t enough he went on to give a `Sahasranamakasulaharam` , golden chain worth over Rs 50 lakh to Goddess Padamavathi.

And in April 2009, when the world was reeling under the meltdown and real estate activity was still at a standstill, a cement baron donated Rs 5 crore worth gloves, Kati and Varada Hastam, to Lord Venkateswara. Not too long ago, a business tycoon from Pune offered a diamond studded parrot and `Nagabharanams` worth Rs 1.5 crore. Not to be left behind, the King of good times, UB Group Chairman Vijay Mallya donated Rs 7 crores towards the gold plating inside the sanctum sanctorum about three years ago. And last year, when gold prices went through the roof, a Hyderabad-based businessman Rajendran offered Rs 1.7 crore worth Lakshmi Haram (a garland of gold coins) to the deity while another Bangalore-based businessman donated a diamond crown to Goddess Padmavati which was worth Rs. 1 crore.

The not-so-rich, small humble gifts are also quite a booty at TTD. Devotees promising replicas of their limbs in gold if their wish of a cure to an ailing hand or leg is fulfilled, or businessmen dropping gold and silver replicas of cigar packets, liquor bottles, watches, shoes (offerings reflective of the work they do) in the hundi are fairly common. Even smaller offerings such as gold chains etc are collected and sent to the Bombay Mint and the gold melted and sent back to TTD. Some gold is converted into a given number of coins, which is then sold by the temple at the market rate.

Cont..........

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`Suraj na badla, chand na badla, na badla asmaan, kitna badal gaya inshan`, Lalu Prasad, whose RJD suffered a humiliating defeat in the lok sabha polls in Bihar, recited the lines from the noted playback singer Pradeep in a pensive mood on his 62nd birthday on Thursday.


Accompanied by his wife and former chief minister Rabri Devi, Prasad began the day with a visit to a temple before cutting the chocolate cake at his 10 Circular Road bungalow, adjacent to Chief Minister Nitish Kumar`s house here.

Unlike earlier when Prasad was at the helm, his birthday this time was celebrated without much fan fare.

Several senior RJd leaders, including Ramkripal Yadav, Shyam Rajak, Shakeel Ahmed Khan, Jagdanand Singh, Umashankar Prasad Singh and Raghuvansh Prasad Singh greeted Prasad on the occasion.

When approached by mediamen, Prasad with his wife and other RJD leaders posed for a photo-session and gave tv footage.

The RJD leader seemed prepared to answer questions evident from his reciting the lines from Pradeep apparently pointing at those who deserted him and his estranged friends in the congress.

He recited the song when mediamen wanted to know from him as to why the celebration looked coomparatively +dull+ this time.

PTI

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Its Show time for a Stable Govt.

Politics

Posted by : sambala

Date :16th May, 2009 - 20:42

Violence in Sivaganga as Chidambaram wins after recount

CHENNAI: Violence broke out on Saturday near the counting centre in Tamil Nadu`s Sivaganga Lok Sabha constituency from which union Home Minister P.
Chidambaram is a candidate, police officials said. Consequently, the result of the balloting was yet to be announced, poll officials added.

Congress candidate Chidambaram was first been declared defeated by his main rival, Raja Kannappan of the AIADMK, by around 3,000 votes. He sought a recount, after which it was found that he had won, said one poll official.

Following this, it was the turn of the AIADMK candidate to ask for a recount, during which his supporters clashed with the police, and the counting proces had to be stopped, a police officer said.
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