MONTH THAT WAS
Scanner shows up non-existent revolver
Conservancy staff fail endurance test
Ethics in business: HDFC stands out
New York: HDFC is the only Indian company which has managed to find a place in the world’s most ethical companies’ list this year.
According to the list prepared by the US-based think tank Ethisphere Institute, only one Indian firm HDFC has made a place among the 110 world’s most ethical companies. The Ethisphere Institute’s list, the largest since the award’s inception in 2007, does not have a ranking.
The 110 companies that made the final cut this year include first-time recipients Adidas, eBay, Microsoft, Colgate-Palmolive, banking giant Standard Chartered Bank, Accenture, Adobe Systems, beverage firm Pepsi Co and 30 other newcomers.
Thirty-one companies from last year disappeared, generally because of litigation or ethics violations, as well as increased competition from within their industries.
Twenty-six companies have been recognised as WME company for all five years, and 50 more have made the list at least twice.
Tsunami will cost Japan over $ 100bn
Washington: The losses from the disaster in Japan, which was hit by a giant tsunami following a massive earthquake, is likely to exceed $100 billion, a media report said. ‘New York Times’ reported that besides an expected $35 billion in insurance claims 9.0 magnitude earthquake, the financial losses will fall most heavily on the Japanese government after it puts together the damage from the tsunami and the nuclear disaster. Huge claims are expected against insurers for the Japanese earthquake and tsunami. Japanese insurance companies, global insurance companies, global insurers and reinsurers, hedge funds and other investors in catastrophe bonds are expected to bear a portion of the losses that seem likely to exceed $100 billion, ‘NYT’ said. There is uncertainly over contamination from the Fukushima nuclear plant where three explosions have rocked three nuclear reactors while a fourth caught fire. The nuclear plant operators in Japan have to buy liability insurance through the Japan Atomic Energy Insurance Pool. They are required to buy coverage of only about $2.2 billion for liabilities, and the pool does not sell the utilities coverage for earthquake damage or business interruptions, the newspaper said.
When fence tried eating the grass
NCP MLA Prakash Shendge was shell shocked when his PA’s bag displayed a revolver under the scanner installed outside the assembly house. The chairman has announced investigation into the matter. While Shendge entered the assembly premises he was not accompanied by his PA, who walked in later with a bag full of papers. After the question hour, the MLA drew the chairman’s attention, saying, “My PA told me that the scanner at the gate showed a revolver in his bag, though there was none.” The MLA added, “When I tried to enquire about this with the security, I was told that the scanner throws up the image of a revolver once in a while just to keep the security guards alert!” Shiv Sena group leader Diwakar Raote remarked in a lighter vein, “At least the guards are doing their duty promptly and you must give them credit for this,” prompting laugher.
Conservancy staff fail endurance test
Mumbai: Mayor Shraddha Jadhav and house leader Sunil Prabhu has asked the civic administration to seek alternation in provisions for recruiting conservancy staff of Brihanmumabi Municipal Corporation (BMC) as of the total 1,500 applicants not a single candidate has cleared the physical fitness test which calls for running 4km in 15 minutes.
“There are nearly 3,000 candidates who were put to a physical endurance test. They had to run 4 km in 15 minutes. Many were unable to meet the target in such a short time”, said Jadhav. She further said that in the year 2009 along with making provisions of having SSC criteria as minimum qualification for recruitment of conservancy staff, the civic administration made provision of physical fitness for candidates who are standard 8,9 and 10th fail.Ethics in business: HDFC stands out
New York: HDFC is the only Indian company which has managed to find a place in the world’s most ethical companies’ list this year.
According to the list prepared by the US-based think tank Ethisphere Institute, only one Indian firm HDFC has made a place among the 110 world’s most ethical companies. The Ethisphere Institute’s list, the largest since the award’s inception in 2007, does not have a ranking.
The 110 companies that made the final cut this year include first-time recipients Adidas, eBay, Microsoft, Colgate-Palmolive, banking giant Standard Chartered Bank, Accenture, Adobe Systems, beverage firm Pepsi Co and 30 other newcomers.
Thirty-one companies from last year disappeared, generally because of litigation or ethics violations, as well as increased competition from within their industries.
Twenty-six companies have been recognised as WME company for all five years, and 50 more have made the list at least twice.
Commenting on the achievement HDFC Vice-Chairman and CEO Keki Mistry said: “It obviously feels nice to be one of the world’s most ethical company and the only one from India. HDFC is one of the most trusted brands in the country and for a financial services company it is very important that people perceive it as ethical.”
Ethisphere’s proprietary rating system, which it calls the Ethics Quotient, is based on a series of multiple-choice questions in a survey that is designed to capture a company’s performance in an objective and standardised way.
“Based on the information in that survey, Ethisphere verifies responses before a final score is provided,” says Alex Brigham, executive director of the Ethisphere Institute.
This year’s list also includes more global companies, with 42 winners from outside of the US, including 6 from Japan.
Companies that have secured a berth on the list are from banking to consumer goods to auto, retail and media.
Ethisphere’s proprietary rating system, which it calls the Ethics Quotient, is based on a series of multiple-choice questions in a survey that is designed to capture a company’s performance in an objective and standardised way.
“Based on the information in that survey, Ethisphere verifies responses before a final score is provided,” says Alex Brigham, executive director of the Ethisphere Institute.
This year’s list also includes more global companies, with 42 winners from outside of the US, including 6 from Japan.
Companies that have secured a berth on the list are from banking to consumer goods to auto, retail and media.
Tsunami will cost Japan over $ 100bn
Washington: The losses from the disaster in Japan, which was hit by a giant tsunami following a massive earthquake, is likely to exceed $100 billion, a media report said. ‘New York Times’ reported that besides an expected $35 billion in insurance claims 9.0 magnitude earthquake, the financial losses will fall most heavily on the Japanese government after it puts together the damage from the tsunami and the nuclear disaster. Huge claims are expected against insurers for the Japanese earthquake and tsunami. Japanese insurance companies, global insurance companies, global insurers and reinsurers, hedge funds and other investors in catastrophe bonds are expected to bear a portion of the losses that seem likely to exceed $100 billion, ‘NYT’ said. There is uncertainly over contamination from the Fukushima nuclear plant where three explosions have rocked three nuclear reactors while a fourth caught fire. The nuclear plant operators in Japan have to buy liability insurance through the Japan Atomic Energy Insurance Pool. They are required to buy coverage of only about $2.2 billion for liabilities, and the pool does not sell the utilities coverage for earthquake damage or business interruptions, the newspaper said.
When fence tried eating the grass
Thane: Greed drove two Thane policemen to corruption and the two constables, along with their four accomplices were arrested for allegedly demanding a bribe from a Thane-based businessman.
According to police sources, that the duo, namely Govind Chavan and Raju Rathod, along with their four accomplices – identified as Mahendra Pandey, Sanjeev Keerthane, Subhash Chavan and Surendra Singh – landed at the Bombay chemicals Factory at Bhiwandi and claimed the unit was indulging in certain malpractices.
Threatening the factory manager to file a complaint, they demanded the matter could be scuttled if he paid up. An alarmed manager immediately informed Tanaji Shankar Patil, the facttory’s owner, who instead alerted the Narpoli Police.
“We spotted their vehicle near Kaseli bridge and arrested all the six. Initially we thought that Govind Chavan and Raju Rathod were imposters, but they were policemen,” said Senior Inspector N B Tate of Narpoli Police. The accused have been charged under Sections 385, 389 and 34 of the IPC and further probe is on, added Tate. Investigators said Govind is attached to the Thane Crime Branch while Rathod is posted at the Navi Mumbai police headquarters.
According to police sources, that the duo, namely Govind Chavan and Raju Rathod, along with their four accomplices – identified as Mahendra Pandey, Sanjeev Keerthane, Subhash Chavan and Surendra Singh – landed at the Bombay chemicals Factory at Bhiwandi and claimed the unit was indulging in certain malpractices.
Threatening the factory manager to file a complaint, they demanded the matter could be scuttled if he paid up. An alarmed manager immediately informed Tanaji Shankar Patil, the facttory’s owner, who instead alerted the Narpoli Police.
“We spotted their vehicle near Kaseli bridge and arrested all the six. Initially we thought that Govind Chavan and Raju Rathod were imposters, but they were policemen,” said Senior Inspector N B Tate of Narpoli Police. The accused have been charged under Sections 385, 389 and 34 of the IPC and further probe is on, added Tate. Investigators said Govind is attached to the Thane Crime Branch while Rathod is posted at the Navi Mumbai police headquarters.
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