>Next Chairman of TATA Group

Shapoorji Mistry *is an Indian entrepreneur and construction
tycoon. With his *18.5% stake in Tata Sons*, he is the single largest
shareholder in India's largest private conglomerate Tata Group. He is also
the Chairman of the Shapoorji Pallonji Group through which he owns Shapoorji
Pallonji Construction Limited and Eureka Forbes Limited.

He is also the former Chairman of Associated Cement Companies. In 2007,
Forbes estimated his total fortune to be *worth US$ 5.9 billion*.Pallonji
gave up his Indian citizenship in 2007 to adopt *Irish citizenship*, making
him the richest Irish national in the world.

Nicknamed by his colleagues in Tata Group as the *Phantom of Bombay House*,
Pallonji, despite being one of the most successful businessmen in India, is
known for his *media-shyness *and rarely appears in public.

Association OF Mr.Pallonji Mistry with TATA Group is since more than 50
years back. His father Mr.Shapoorji Mistry had acquired 12.5 % stake of TATA
Sons, the key holding company of TATA Group from Mr. J R D Tata by buying
out solicitor FE Dinshaw's estate which was equal to 12.5% of Tata Son

And when J R D Tata tooke over the group Mr.Shapoorji had taken the
advantage of group's uncertanity and bought out other Tata family members
stake and increased it to 16.5%.

*Today, Pallonji owns 18.35% of Tata Sons, while Ratan Tata himself owns
less than a per cent.*

When TCS went public, Pallonji was the biggest beneficiary, netting more
than even the Tata companies.
He's always been a silent stakeholder, choosing instead to focus on the
international expansion of his own construction group, The Shapoorji
Pallonji Group and the domestic expansion of Eureka Forbes. The Group has
now diversified into textile and IT parks but Pallonji is as reclusive as
ever. He admits, "I prefer to be in the background, and I always have been.
But when it is a must, as I said when I became the Chairman of ACC, I had to
be before the press and so I was there. But if left to me, I would rather be
on my own."

In spite of being one of the richest Indians and Chairman of the Shapoorji
Pallonji Group, Pallonji Mistry is a man who rarely appears in public and is
often described as being media shy. His employees call him the man with no
faults, his friends describe him as humble and within the Tata Group he is
known as the Phantom of Bombay House.

In 2007, he gave up his Indian citizenship to become an Irish citizen.His
son-in-law Noel Tata is the CEO of the retail arm of the Tata Group. Noel
Tata is also the half-brother of Ratan Tata.











His son Mr.Cyrus Mistry is, 40 years old has recently joined the board of
TATA Sons in 2006.*The possiblity of next chairman of TATA Group is of his
son Mr. Cyrus Mistry or his son-in-law Mr.Noel Tata*.

*Any one out of Mr.Cyrus Mistry, Son of Mr.Pallonji Mistry and Mr.Noel Tata,
Son-in-law of Mr.Pallonji Mistry are the Next chairman of TATA Group.


Source:- http://myjourneytobillionaireclub.blogspot.com/2008/10/pallonji-shapoorji-mistry.html

>Few more AFL's

The AmiBroker Programming Language (AFL) is a very unique and powerful programming language but to use it effectively you have to understand how it works and how to properly use the AFL functions. For the newcomer to programming, this may represent a steep learning curve and it may take a little persistence to find the answers to all your questions.

Few AFL's you may like to download.

1 MACD commentary.afl


2 Pivot Point and Support and Resistance Points.afl


3 Relative Strength Index.afl

Hope they are usefull :).

Regards
Rish

>1907 Bankers' Panic

The Panic of 1907, also known as the 1907 Bankers' Panic, was a financial crisis that occurred in the United States when the New York Stock Exchange fell close to 50 percent from its peak the previous year. Panic occurred during a time of economic recession, when there were numerous runs on banks and trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and businesses entered into bankruptcy. Primary causes of the run include a retraction of market liquidity by a number of New York City banks, loss of confidence among depositors, and the absence of a statutory lender of last resort.

The crisis occurred after the failure of an attempt in October 1907 to corner the market on stock of the United Copper Company. When this bid failed, banks that had lent money to the cornering scheme suffered runs which later spread to affiliated banks and trusts, leading a week later to the downfall of the Knickerbocker Trust Company—New York City's third-largest trust. The collapse of the Knickerbocker spread fear throughout the city's trusts as regional banks withdrew reserves from New York City banks. Panic extended across the nation as vast numbers of people withdrew deposits from their regional banks.

The panic would have deepened if not for the intervention of financier J. P. Morgan, who pledged large sums of his own money, and convinced other New York bankers to do the same, to shore up the banking system.When the chaos began to shake the confidence of New York's banks, the city's most famous banker was out of town. J.P. Morgan, president of the eponymous J.P. Morgan & Co., was attending a church convention in Richmond, Virginia. Morgan was not only the city's wealthiest and most well-connected banker, but he had experience with crisis—he helped rescue the U.S. Treasury during the Panic of 1893. As news of the crisis gathered, Morgan returned to Wall Street from his convention late on the night of Saturday, October 19. The following morning, the library of Morgan's brownstone at Madison Avenue and 36th St. had become a revolving door of New York City bank and trust company presidents arriving to share information about (and seek help surviving) the impending crisis


Morgan and his associates examined the books of the Knickerbocker Trust, but decided it was insolvent and did not intervene to stop the run. Its failure, however, triggered runs on even healthy trusts, prompting Morgan to take charge of the rescue operation. On the afternoon of Tuesday, October 22, the president of the Trust Company of America asked Morgan for assistance. That evening Morgan conferred with George F. Baker, the president of First National Bank, James Stillman of the National City Bank of New York (the ancestor of Citibank), and the United States Secretary of the Treasury, George B. Cortelyou. Cortelyou said that he was ready to deposit government money in the banks to help shore up their deposits. After an overnight audit of the Trust Company of America showed the institution to be sound, on Wednesday afternoon Morgan declared, “This is the place to stop the trouble, then."
As a run began on the Trust Company of America, Morgan worked with Stillman and Baker to liquidate the company's assets to allow the bank to pay depositors. The bank survived to the close of business, but Morgan knew that additional money would be needed to keep it solvent through the following day. That night he assembled the presidents of the other trust companies and held them in a meeting until midnight when they agreed to provide loans of $8.25 million to allow the Trust Company of America to stay open the next day. On Thursday morning Cortelyou deposited around $25 million into a number of New York banks. John D. Rockefeller, the wealthiest man in America, deposited a further $10 million in Stillman's National City Bank. Rockefeller's massive deposit left the National City Bank with the deepest reserves of any bank in the city. To instill public confidence, Rockefeller phoned Melville Stone, the manager of the Associated Press, and told him that he would pledge half of his wealth to maintain America's credit.

At the time, the United States did not have a central bank to inject liquidity back into the market. By November the contagion had largely ended, yet a further crisis emerged when a large brokerage firm borrowed heavily using the stock of Tennessee Coal, Iron and Railroad Company (TC&I) as collateral. Collapse of TC&I's stock price was averted by an emergency takeover approved by anti-monopolist president Theodore Roosevelt. The following year, Senator Nelson W. Aldrich established and chaired a commission to investigate the crisis and propose future solutions, leading to the creation of the Federal Reserve System.

>Shipping companies analysis

Hi Friends,
Shipping companies are still struggling ,And are hit badly as the BALTIC dry index
continues to fall.

In my last post Baltic Index the nemesis of Shipping companies had clearly warned not to put any money in shipping companies till Baltic shows some support or upward bias,Since then the Baltic has fallen from 2900 to 1221 a whooping 1679 points.Side by side shipping companies continue to bleed.
In near term fundamentally nothing much looks diffrent from the present situation.So better watch out for BALTIC DRY INDEX for clues.

Saving money is making money in present situation.
Regards
Rish