Government saved its face by putting off Bengaluru Habba. Otherwise chief minister would have been beatified to the ‘Nerohood’ giving birth to a new proverb: “ Yeddy celebrated when the nation burned”.

Mumbai mayhem and terror scare lurking in the state would not only justify postponement of the city carnival, but the horrendous status state's finances should have been a cause of worry.

The empty coffers have prompted the government appealing RBI for overdraft. The government has no money for the developmental works pending. Chief minister Yeddyurappa had admitted that his government could not achieve even 30 percent of budgetary promises. ...

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Air India has reduced fuel surcharge on domestic passengers by Rs. 400 resulting in 9 percent cut in overall ticket prices. Why the other airlines are not following the suit?

Stand of private airlines is self-explanatory when the state run carrier promptly acted in response to falling price of ATF.

ATF prices have seen downward revision for six times in past three months resulting in about 50 percent of reduction. Now aviation turban fuel is cheaper than petrol. Still the private carriers are reluctant to pass on the benefit to the passengers. ...

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A leading TV channel was harping on how it was the first to reach the spot when terrorists were on killing spree in Mumbai.

The news anchor went on to claim, taking victorious pride; his crew could beat other journalists because of its swift responsiveness, saying, “There is no media in the vicinity”.

It is said the channel had briefed its reporters to lay flat, on their belly, while giving PTC, so that the visuals look dramatic (Off course some of the journalists risked their life putting up brave face, but the visual gimmicks of the TRP hounds was the height of unethical journalism)....

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The ailing airlines industry is apparently asking for what the government cannot afford.

 

The carriers are asking for a bail out package projecting an aggregated loss of Rs 10000 crore by next year. 

 

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Warren E. Buffett, the richest man in the world, has a suggestion for the investors in the encircled gloom: ‘Be fearful when others are greedy, and be greedy when others are fearful’.

Predicting the end of the present global recession he has advised us to go for a long-term profit taking advantage of the short-term turmoil.

The idea seems smart, considering you can now get blue chips dirt cheap.

And we can also believe Buffett when he says the crisis is not the end of the road and clouds will pass....

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