In recent weeks,
India Inc. has witnessed two resounding calls for 'strikes'. The first,
the stillborn one, was masterminded and spearheaded by Vijay Mallya and
Naresh Goyal. Their plan was to stop all flights by private airlines on
August 18 to "highlight their demands". The second one is on even as
this magazine goes for printing. This one is by employees of public
sector banks who are demanding better salaries and perks. Being highly
patriotic, the union leaders of the Bank strike have deemed that ATM
machines will function during the two day strike. Similarly, a late
upsurge of patriotism in the hearts of Mallya and Goyal made them
cancel (Or defer?) their planned strike to 'respect public sentiments'.
Of course, both the Mallya-Goyal duo and the bank union leaders insist
that they are victims. But I would rather call them the fat cat
aristocracy of India Inc. who are greedy, myopic and brazenly arrogant
in their quests to protect their turfs and vested interests. And I think
it is time the mainstream media shamed them into admitting as much; by
persistently highlighting their willingness to blackmail.
Nobody asked Mr. Mallya to personally select air hostesses or buy out Air Deccan or offer 'gourmet' cuisine on full service flights to economy class passengers. Nobody asked Mr. Goyal to blithely ignore the danger posed by low cost airlines or gamble by buying out Sahara in an expensive and messy deal. And now that competition is beginning to hurt them; they are clamouring for government bailouts. The fact is, almost all their claims are specious. The charges imposed by new airports are paid by passengers; the high costs of fuel are paid by passengers. So why are they cribbing? Imagine a situation where manufacturers of TV sets, soaps and shampoos start demanding government bail outs when input costs rise while smarter and cheaper rivals eat into their market shares and margins. Have you ever heard small entrepreneurs – responsible for almost all the growth in jobs in India – making similar demands?
Nobody asked Mr. Mallya to personally select air hostesses or buy out Air Deccan or offer 'gourmet' cuisine on full service flights to economy class passengers. Nobody asked Mr. Goyal to blithely ignore the danger posed by low cost airlines or gamble by buying out Sahara in an expensive and messy deal. And now that competition is beginning to hurt them; they are clamouring for government bailouts. The fact is, almost all their claims are specious. The charges imposed by new airports are paid by passengers; the high costs of fuel are paid by passengers. So why are they cribbing? Imagine a situation where manufacturers of TV sets, soaps and shampoos start demanding government bail outs when input costs rise while smarter and cheaper rivals eat into their market shares and margins. Have you ever heard small entrepreneurs – responsible for almost all the growth in jobs in India – making similar demands?
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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