Thought of writing sumthing useful, so came up with the post abt “Financial Crisis”.
I am here to write wat I feel, my way of understanding things…cheer me up by writing ur views.
Financial crisis is a situation wen sum institutions suddenly lose a large part of their value/money. Recently the financial crisis in Us, had shaken the entire world.
I am hearing various terms like recession, inflation…What r all these…what thy exactly mean?? Y the financial crisis in one country is affecting the whole world… Y the rich get richer and the poor get poorer… Is it the right time to buy a house/property? Or should v invest our money in
GOLD... (which is considered always as a profitable asset..) Is software industry is stable?? Is it the right time to do an MBA (due to shrinking job market in US and UK)?? Does the financial crisis affect the Real-estates business and Construction industry?? Will financial crisis change the India’s attitude towards MONEY? Is it safe to use credit cards while shopping (Due to bankrupt!!)Let me start my views on these questions!!
As the fina
ncial crisis hit US, there was the downfall in the turnover for most of the companies….Many banks like ICICI (though thy didn’t accept the fact) in India also faced such situation. The case of ICICI is the worst as I saw many ppl standing in long queue withdrawing the entire amount thy deposited.Due to financial crisis in US, Almost all the countries was affected including India
which depends upon US for its software development/Projects….Most of the Software companies get their projects from US.. Many software companies in order to sustain thier profit, they reduced the salary by certain percent and many even gave pink slips (Remove the employess with no reason) to their employee’s.
Let me ask one thing? Is this financial crisis affects Ashiwarya or Big B in spending their money? Is it affecting Sachin Tendulakar or Ambani brothers in any way? They are still spending money lavishly . Mukesh Ambani bought his wife Nita Ambani a Rs. 242 crore Airbus 319 corporate jet as a birthday gift
(What she gonna do with that yaar…is she gonna drive it all alone...). Mukesh is probably hoping to give his wife Nita a gift most women can only dream of - a 27-storey mansion. The house is currently under construction and is expected to be ready by next year. Next year I ll suggest Mukesh to buy a country and name it Nitaland!!! Sounds very silly na!!!!Then it makes me to ask whether software industry is stable or not? Cost-cutting
by companies is the most famous term that u can come across any paper. Cost cutting in terms of giving Pink slips, no hike in salary, reduction in wages to certain percent, no extra allowances like medical, travel etc. were the steps taken by the companies.
Placement cell is affected vigorously… Still companies like Wipro have not called up the students whom they recruited recently.
Nowadays MBA students are facing a bizarre job scenario. Though MBA degree is a long term value addition to one’s resume and will not lose its value at any cost. My question is “ Is this the right time to do an MBA from reputed foreign university? A shrinkage job market in the US & UK, bad education loans, increased rate of interest, rupee depreciation, rising cost of living abroad are the reasons which makes ppl to think twice before flying abroad.
Finding Answers to rest of the Questions!!!! Meanwhile Knowledge shared is like knowledge gained!!! So start sharing it!!!!