Citigroup may be surviving on taxpayers money but the Vikram Pandit-led entity along with Pepsico, another firm led by an India-born chief executive Indra Nooyi, have been named among the best companies for corporate transparency by an American publication.
The 10th annual list of '100 Best Corporate Citizens 2009' by Corporate Responsibility Officer (CRO) magazine features US firms ranked for their activities in various areas including governance and employee relations.
Citi is ranked at the 35th spot while Indra Nooyi-led Pepsico is placed at the 85th spot.
Pharma major Bristol Myers-Squibb has topped the league of 100 followed by food retailer General Mills and technology giant IBM at the second and third positions, respectively.
Regarding the list, CRO noted, "when someone next asks you to define 'corporate transparency,' show them this..."
The ranking of the companies are based on activities in seven categories -- environment, climate change, human rights, philanthropy, employee relations, financial and governance.
"This list also proves that 10 years is a long time on the corporate responsibility timeline. Only three companies have made the list all 10 years: Intel, Cisco and Starbucks. Nearly 400 companies have appeared on the list over the past 10 years, including 48, by our count, that no longer exist.
"... the 100 Best List is the best-known annual snapshot of the leaders," the magazine said in an accompanying report.
Compiled by IW Financial and edited by CRO, the ranking is "completely based on publicly available information."
Other companies which have made it to the list are pharma entities Merck & Co (4th rank) and Abbott Laboratories (8), computer hardware makers HP Co (5) and Cisco Systems Inc (6), toy manufacturer Mattel (7), personal care products firm Kimberly-Clark Corp (9) and utilities entity Entergy Corp (10).
The ranking assigns maximum weight of 19.5 per cent to environment and employee relations. Climate change and human rights have a weights of 16.5 per cent and 16 per cent, respectively.
Citi has been severely battered in the ongoing financial turmoil, forcing the government to pump in billions of dollars into the financial services entity.
Already, the company has received 45 billion dollars of fresh capital apart from the US guaranteeing assets worth more than 300 billion dollars.
Agencies
Sunday, March 8, 2009
About 1 lakh Indians will return from US in next 3-5 years
As many as 100,000 Indians and an equal number of Chinese will return to their native countries in the next three to five years, a move that will greatly boost their economies and undermine technological innovation in America, a new US study warns.
The study on immigration by a team at Duke, Harvard and Berkeley universities led by Vivek Wadhwa, an Indian-American technology entrepreneur turned academic, says "America's loss is the world's gain".
There are no hard numbers available on how many have returned, but anecdotal evidence shows that this is in the tens of thousands, says Wadhwa, executive-in-residence for the Pratt School of Engineering at Duke University and fellow at the Labour and Worklife Programme at Harvard Law School.
"With the economic downturn, my guess is that we'll have over 100,000 Indians and as many Chinese return home over the next three-five years," says Wadhwa. "This flood of western educated and skilled talent will greatly boost the economies of India and China and strengthen their competitiveness.
"India is already becoming a global hub for R&D. This will allow it to branch into many new areas and will accelerate the trend," he says.
"The US has always had the luxury of being arrogant about immigration because it has been the strongest magnet for the world's best and brightest," but as the study shows "there are other strong magnets now".
"We are effectively exporting our economic stimulus. Policies like those which the US just enacted which prevents some banks from hiring foreign workers will have the opposite effect from what they intended - they will send jobs abroad and scare away top talent," Wadhwa said.
The study released on Monday Ewing Marion Kauffman Foundation, based in Kansas City, Montana, indicates placing limits on foreign workers in the US is not the answer to America's rising unemployment rate and may undermine efforts to spur technological innovation.
"A substantial number of highly skilled immigrants have started returning to their home countries in recent years, draining a key source of brain power and innovation," said Robert E. Litan, vice president of Research and Policy at the Kauffman Foundation.
"We wanted to know what is encouraging this much-needed economic growth engine to leave our country, thereby sending entrepreneurship and economic stimulus to places like Bangalore and Beijing."
The report builds on an earlier Kauffman Foundation report by Wadhwa documenting a queue of one million H-1B holders and their families anxiously awaiting longer-term work visas and growing frustrated with the immigration process.
Until recently, America has been the prime destination for the world's best and brightest immigrants. "Immigrants have made tremendous personal sacrifices," said Wadhwa. "They would leave behind relatives and friends and accept second-tier status in American society.
"Now countries like India and China are providing equal career opportunities and a better quality of life. So the most highly educated and skilled are often returning home."
The two-year study covered 1,203 Indian and Chinese subjects who had studied or worked in the US for a year or more before returning home.
Agencies
The study on immigration by a team at Duke, Harvard and Berkeley universities led by Vivek Wadhwa, an Indian-American technology entrepreneur turned academic, says "America's loss is the world's gain".
There are no hard numbers available on how many have returned, but anecdotal evidence shows that this is in the tens of thousands, says Wadhwa, executive-in-residence for the Pratt School of Engineering at Duke University and fellow at the Labour and Worklife Programme at Harvard Law School.
"With the economic downturn, my guess is that we'll have over 100,000 Indians and as many Chinese return home over the next three-five years," says Wadhwa. "This flood of western educated and skilled talent will greatly boost the economies of India and China and strengthen their competitiveness.
"India is already becoming a global hub for R&D. This will allow it to branch into many new areas and will accelerate the trend," he says.
"The US has always had the luxury of being arrogant about immigration because it has been the strongest magnet for the world's best and brightest," but as the study shows "there are other strong magnets now".
"We are effectively exporting our economic stimulus. Policies like those which the US just enacted which prevents some banks from hiring foreign workers will have the opposite effect from what they intended - they will send jobs abroad and scare away top talent," Wadhwa said.
The study released on Monday Ewing Marion Kauffman Foundation, based in Kansas City, Montana, indicates placing limits on foreign workers in the US is not the answer to America's rising unemployment rate and may undermine efforts to spur technological innovation.
"A substantial number of highly skilled immigrants have started returning to their home countries in recent years, draining a key source of brain power and innovation," said Robert E. Litan, vice president of Research and Policy at the Kauffman Foundation.
"We wanted to know what is encouraging this much-needed economic growth engine to leave our country, thereby sending entrepreneurship and economic stimulus to places like Bangalore and Beijing."
The report builds on an earlier Kauffman Foundation report by Wadhwa documenting a queue of one million H-1B holders and their families anxiously awaiting longer-term work visas and growing frustrated with the immigration process.
Until recently, America has been the prime destination for the world's best and brightest immigrants. "Immigrants have made tremendous personal sacrifices," said Wadhwa. "They would leave behind relatives and friends and accept second-tier status in American society.
"Now countries like India and China are providing equal career opportunities and a better quality of life. So the most highly educated and skilled are often returning home."
The two-year study covered 1,203 Indian and Chinese subjects who had studied or worked in the US for a year or more before returning home.
Agencies
Is TCS likely to lay off 1,300 staffers?
India’s biggest software exporter by sales, Tata Consultancy Services (TCS), will lay off less than a percent of its global workforce over the next few months, as these employees failed to meet performance standards, a company spokesperson said.
This roughly works out to 1,300. The company has a total employee count of around 1.3 lakh.
IT companies are adopting stringent appraisal, cost-trimming and productivity-boosting measures as they grapple with the global economic slow down.
TCS employees said on condition of anonymity that lay-offs have started at the company’s development centres in Chennai, where over 200 employees have been asked to leave in the last fortnight .
When contacted, a member of the TCS corporate communication team confirmed the development but did not put a number or place to it.
Agencies
This roughly works out to 1,300. The company has a total employee count of around 1.3 lakh.
IT companies are adopting stringent appraisal, cost-trimming and productivity-boosting measures as they grapple with the global economic slow down.
TCS employees said on condition of anonymity that lay-offs have started at the company’s development centres in Chennai, where over 200 employees have been asked to leave in the last fortnight .
When contacted, a member of the TCS corporate communication team confirmed the development but did not put a number or place to it.
Agencies
Saturday, March 7, 2009
Is IBM also in the race to buy Satyam?
Global IT giant IBM is learned to be leading the list of prospective buyers of beleaguered Satyam Computer Services. If the plan fructifies, IBM would become the largest IT services player in India with a combined employee strength of over 125,000 people.
According to sources close to the development, IBM officials has begun discussions with Satyam board and expressed its desire to acquire a majority stake in the company. Moreover, a team of investment bankers and lawyers from the U.S. and Europe has been brought in to assess the size of the deal and the risks associated with it. It is also believed that IBM has conducted an initial due diligence on some of Satyam's major customers.
Making easy entry for foreign players, Minister of Corporate Affairs P C Gupta had said a week ago that open bids would not be restricted to Indian players. IBM was named one of the hostile bidders for Satyam at the company's meeting in the last December. Apart from IBM, other prominent companies in the race are Larsen & Toubro (L&T), which owns 12 per cent in Satyam, and B K Modi-owned Spice group.
The government-nominated board is expected to invite bids for a 31 per cent stake in the company, but is likely to assure the successful bidder 51 per cent even if it fails to get the additional mandatory 20 per cent from the open offer.
Analysts foresee that if IBM can buy Satyam, that can give IBM the leverage to compete with Indian IT service providers as Satyam has a low-cost structure.
Agencies
According to sources close to the development, IBM officials has begun discussions with Satyam board and expressed its desire to acquire a majority stake in the company. Moreover, a team of investment bankers and lawyers from the U.S. and Europe has been brought in to assess the size of the deal and the risks associated with it. It is also believed that IBM has conducted an initial due diligence on some of Satyam's major customers.
Making easy entry for foreign players, Minister of Corporate Affairs P C Gupta had said a week ago that open bids would not be restricted to Indian players. IBM was named one of the hostile bidders for Satyam at the company's meeting in the last December. Apart from IBM, other prominent companies in the race are Larsen & Toubro (L&T), which owns 12 per cent in Satyam, and B K Modi-owned Spice group.
The government-nominated board is expected to invite bids for a 31 per cent stake in the company, but is likely to assure the successful bidder 51 per cent even if it fails to get the additional mandatory 20 per cent from the open offer.
Analysts foresee that if IBM can buy Satyam, that can give IBM the leverage to compete with Indian IT service providers as Satyam has a low-cost structure.
Agencies
Progress Software target insurance, airlines sectors in India
Progress Software Corporation is targeting the insurance, logistics, BFSI and airlines sectors that are mushrooming with many foreign players coming into India.
The provider of application infrastructure software for the development, deployment, integration and management of business applications is looking to partner with domestic consultants with large working knowledge in these sectors.
Talking to CXOtoday, Jezmynn Koh, marketing manager, Asia, of Progress Software, said, "We see a very large potential for us in these sectors and, along with the business knowledge of our partners, we expect to grow big in India. This year we see big-time growth for the BFSI, telecom and insurance sectors."
In fact, the company has already selected a partner - Hasel Fre Solutions - who have business knowledge in the insurance sector. "Likewise, we are now looking for partners in the logistics, BFSI and airlines sectors," she said.
Progress Software's OpenEdge platform enables companies like QAE and Epicor to build an ERP solution on top of it. So, several companies in the BFSI, telecom and also public-sector undertaking sectors have customized the platform as per their requirements.
OpenEdge has been the "cash cows" for Progress Software for many years and contributes almost 70% to the company's revenues.
In the telecom space, Bharat Sanchar Nigam Ltd has been managing data backend integration using Progress COBRA software so that switch-makers can integrate a totally different billing system. "With the fast growth in the telecom sector, most telecom companies face system integration challenges," said Koh.
Similarly, Steel Authority of India Ltd (SAIL) has built a customized ERP solution on top of OpenEdge software for buying, selling and distribution for the last many years..
Besides, Progress also sells through their strategic partners - Wipro, TCS, Infosys and Satyam. Regarding continuing partnership with Satyam, Koh said her company will continue to partner as long as there is a business need for different projects.
CXOtoday.com
The provider of application infrastructure software for the development, deployment, integration and management of business applications is looking to partner with domestic consultants with large working knowledge in these sectors.
Talking to CXOtoday, Jezmynn Koh, marketing manager, Asia, of Progress Software, said, "We see a very large potential for us in these sectors and, along with the business knowledge of our partners, we expect to grow big in India. This year we see big-time growth for the BFSI, telecom and insurance sectors."
In fact, the company has already selected a partner - Hasel Fre Solutions - who have business knowledge in the insurance sector. "Likewise, we are now looking for partners in the logistics, BFSI and airlines sectors," she said.
Progress Software's OpenEdge platform enables companies like QAE and Epicor to build an ERP solution on top of it. So, several companies in the BFSI, telecom and also public-sector undertaking sectors have customized the platform as per their requirements.
OpenEdge has been the "cash cows" for Progress Software for many years and contributes almost 70% to the company's revenues.
In the telecom space, Bharat Sanchar Nigam Ltd has been managing data backend integration using Progress COBRA software so that switch-makers can integrate a totally different billing system. "With the fast growth in the telecom sector, most telecom companies face system integration challenges," said Koh.
Similarly, Steel Authority of India Ltd (SAIL) has built a customized ERP solution on top of OpenEdge software for buying, selling and distribution for the last many years..
Besides, Progress also sells through their strategic partners - Wipro, TCS, Infosys and Satyam. Regarding continuing partnership with Satyam, Koh said her company will continue to partner as long as there is a business need for different projects.
CXOtoday.com
Now Send SMS In Any Local Languages
By Manu Sharma
Since local language is always preferred to communicate with close ones, Tachyon Technologies, the Bangalore-based company initially rolled out Quillpad for the online players. It has recently introduced the solution for mobile players for their SMS service.
Talking to CXOtoday, Ram Prakash H., founder and CEO of Tachyon Technologies said, "We innovated a core less compression technology for the mobile version that has been compressed from eight mbps to less than 400 kbps. It has enabled easier usage for the end-user."
LG has rolled out four models that has inbuilt Quillpad in them and these included: KM 380T, KG 195, KP 199 and KP 220 models. Following the success with LG, Tachyon is talking to other manufacturers like Nokia, Samsung among others. "We want to initially target the mobile manufacturers who will bundle the features in the handsets and later approach the mobile service providers like Airtel, Reliance and Vodafone who can provide more value added services to the end users," said Prakash.
As per the agreement signed with LG (global), the license covers all languages. However, the company has initially rolled out models that can support only Hindi. "Quillpad in mobile makes it easy to type in local languages. It is as easy as we type test messages in English in dictionary mode," said Prakash.
On compatibility with other formats, he said Quillpad is Unicode-compliant and would support any application that supports Unicode. Quillpad was developed as an AI technology, which learns the rules and language patterns and can transliterate any language without help of any linguistic expert," said Prakash.
There is a two-fold advantage - since there is no dependence on a linguistic expert, it can be used for any language and one does not have to depend on the dictionary. Prakash said that this learning was just one-time, after which the trained set of patterns could be deployed by all users of Quillpad technology. The newly developed technology then enables predictive transliteration.
"When you are typing a word, the technology will put together the rules and come up with the right word. It is very similar to the way the T9 dictionary on mobile phones supports typing English words," he said. Another feature that is unique is that the technology is not dependent on one Indian language or its structure. It supports any language that can be written phonetically.
"This gives Quillpad an edge over other technologies. As the artificial intelligence technology can learn the pattern of new languages in just three to four hours, one can add new languages overnight," he said.
CXOtoday.com
Since local language is always preferred to communicate with close ones, Tachyon Technologies, the Bangalore-based company initially rolled out Quillpad for the online players. It has recently introduced the solution for mobile players for their SMS service.
Talking to CXOtoday, Ram Prakash H., founder and CEO of Tachyon Technologies said, "We innovated a core less compression technology for the mobile version that has been compressed from eight mbps to less than 400 kbps. It has enabled easier usage for the end-user."
LG has rolled out four models that has inbuilt Quillpad in them and these included: KM 380T, KG 195, KP 199 and KP 220 models. Following the success with LG, Tachyon is talking to other manufacturers like Nokia, Samsung among others. "We want to initially target the mobile manufacturers who will bundle the features in the handsets and later approach the mobile service providers like Airtel, Reliance and Vodafone who can provide more value added services to the end users," said Prakash.
As per the agreement signed with LG (global), the license covers all languages. However, the company has initially rolled out models that can support only Hindi. "Quillpad in mobile makes it easy to type in local languages. It is as easy as we type test messages in English in dictionary mode," said Prakash.
On compatibility with other formats, he said Quillpad is Unicode-compliant and would support any application that supports Unicode. Quillpad was developed as an AI technology, which learns the rules and language patterns and can transliterate any language without help of any linguistic expert," said Prakash.
There is a two-fold advantage - since there is no dependence on a linguistic expert, it can be used for any language and one does not have to depend on the dictionary. Prakash said that this learning was just one-time, after which the trained set of patterns could be deployed by all users of Quillpad technology. The newly developed technology then enables predictive transliteration.
"When you are typing a word, the technology will put together the rules and come up with the right word. It is very similar to the way the T9 dictionary on mobile phones supports typing English words," he said. Another feature that is unique is that the technology is not dependent on one Indian language or its structure. It supports any language that can be written phonetically.
"This gives Quillpad an edge over other technologies. As the artificial intelligence technology can learn the pattern of new languages in just three to four hours, one can add new languages overnight," he said.
CXOtoday.com
Software to reduce non-compliance risks
Hewlett Packard (HP) plans to unveil a new document and records management software - TRIM - aimed at reducing an organization's risk of non-compliance with legislative and regulatory requirements over the next few months in India.
Talking to CXOtoday Kris Brown, TRIM marketing manager, HP APAC, said, "We are likely to roll out the software in the coming months and will start with the manpower for sales force and also the training. The software was originally developed in Australia and later acquired by HP."
Globally, there are more than 20,000 regulations that businesses need to comply with, including the significant legislations such as Sarbanes-Oxley, HIPAA and BASEL-II. In India, specific regulations mandate on how companies manage and store their information, including the IT Act, Indian Evidence Act and SEBI Clause 49, but most of them are not enforced yet by the Indian government, said Brown.
Meeting these guidelines also increases the return on investments for any organization, Brown said.
HP TRIM software is a best-practice document and records management system (DRMS) that reduces your risk of non-compliance with legislative and regulatory requirements while increasing security, data integrity, productivity and accountability.
In India, HP is targeting Central and state government departments, public-sector undertakings (PSUs), organizations and banking and financial institutions.
HP's Bangalore lab, which has been doing software development for the information management and achieving, will also handle the customization of the TRIM software as well.
CXOtoday.com
Talking to CXOtoday Kris Brown, TRIM marketing manager, HP APAC, said, "We are likely to roll out the software in the coming months and will start with the manpower for sales force and also the training. The software was originally developed in Australia and later acquired by HP."
Globally, there are more than 20,000 regulations that businesses need to comply with, including the significant legislations such as Sarbanes-Oxley, HIPAA and BASEL-II. In India, specific regulations mandate on how companies manage and store their information, including the IT Act, Indian Evidence Act and SEBI Clause 49, but most of them are not enforced yet by the Indian government, said Brown.
Meeting these guidelines also increases the return on investments for any organization, Brown said.
HP TRIM software is a best-practice document and records management system (DRMS) that reduces your risk of non-compliance with legislative and regulatory requirements while increasing security, data integrity, productivity and accountability.
In India, HP is targeting Central and state government departments, public-sector undertakings (PSUs), organizations and banking and financial institutions.
HP's Bangalore lab, which has been doing software development for the information management and achieving, will also handle the customization of the TRIM software as well.
CXOtoday.com
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