This is it!

For any fan of music and performance, This is it is a must watch.
You dont have to be a Michael Jackson fan.
You just have to love music and you have the love the art of performing!
The movie is very well made- it is a compilation of a bunch of rehearsals for the This is it concert in London that Michael was supposed to perform before he died under mysterious circumstances.
The movie is great for three reasons-
First- It shows Michael's insights into what makes a great performance. He coaches his vocalists, he coaches the drummer, he coaches the guitarist- and all of those coaching moments, he is authentic, he is in the moment and he is looking for what would make the most impact- both for the performer as well as the audience watching it.
Second- It captures the adulation of his fans in a very real manner, it is not made up, it is just what they feel- it is raw, emotional and very impactful.
Third- the movie shows the human side of Michael as well as the musical genius he truly was. His personal life may be what it may, his idiosyncracies may be what they may, the fact remains when you write songs like Heal the world and Black or White, and perform the way he did, you are a true genius!
Hail the King of Pop!

Feinberg on "what is life worth"

Ken Feinberg is in the public eye right now as he is the pay czar governing the compensation policies of bailed out companies from the crisis of last year. I had little knowledge about who he was till he was appointed for this post.
Then, I started doing some research. Found out that he had a role much more significant and impactful than what he has now- he was the person responsible for determining compensation for victims of the 9/11 attack. he had sweeping powers. On Sept 22, 11 days after the brutal attack, Congress passed a hastily created bill that sought to compensate the families of victims of the 9/11 attack. How much compensation, to who, the criterion to be used- all of this was left deliberately vague and the sole person responsible to execute on this- from design, to implementation was Ken Feinberg.
He has written a fascinating account of that journey in a book appropriately titled "What is life worth" as essentially, that is what he had to determine when he was decided how the families needed to be compensated. The book describes how it changed Feinberg as a person as he saw not just how people dealt with sorrow and loss, it also opened his eyes to vastly different perspectives on what was considered "enough" to live well.
It is a book that is well written, thought provoking and something that clearly changed the author's perspective on life in general.
A great read and well worth a skim at the very least. Given that experience if not anything else, I think he is uniquely qualified to be the Pay Czar for the bailed out companies. If he could assess what lives were worth, surely the worth of jobs is a walk in the park!

Back after a long layoff

I have not written for some time. I have been off blogging for a while for a bunch of different reasons. One- too much going on at work. Two- two little kids that I'm happy to spend all my free time with. Three- traveling back to India and the just the preparation to go there and be back at work. Its been hectic, but extremely rewarding.
First of all, the economy in general and financial services industry in particular, seems to be seeing some stability. While the credit charge-offs remain high, they are trending downward and thats a good sign. Unemployment still remains worrisome, and until that shows signs of coming down, there will be always be the over-hang of the recession. Dick Bove, the banking analyst I respect a lot, today went on record to say that housing has bottomed out- that is a strong statement to make and even if there is a modicum of truth in that, there is hope.
Secondly- it seems the general American consumer is saving more and while that is not good for the retail industry, I think it is a good healthy turn of behavior. Americans have been living way beyond their means for too long and if this crisis leads to a higher personal savings rate, I would consider that a happy outcome.
Lastly- the long hiatus I was on saw us lose the king of pop in the most bizarre circumstances. Whatever the nature of his personal life and the manner of his death, he will remain, for me, one of the greatest writers and musicians of all time. Some of the lyrics- Black or White and Heal the World being two of my favorites, are a great commentary on the world we live in and what it needs.
I am hoping to write a little more regularly for the rest of the year and keep the thoughts going- from politics, to sports to entertainment.
Till then...

Why the Indian Premier League is such a success?

The finals of IPL 2009 just got over in South Africa. Deccan beat Bangalore in a match that ebbed and flowed right till the last over. It was fun watching the match with friends in the US. I think the IPL will go a long way in making cricket more internationally well known for a variety of reasons.
First- it all gets over in under four hours. One of the biggest complaints of a lot of my friends abroad about learning cricket has been that it takes too long. This version is like a baseball game and you ALWAYS get a result!
Second- the combination of cricket with bollywood is a superlative idea. The glitz and glamor add to the excitement.
Third- the possibility of watching the finest players in the world on one stage.
The IPL revolution is reminiscent of the Packer revolution in the late seventies. The way Packer changed the way one day cricket was played is how IPL will change the way the shorter of the form of the game will internationalize cricket going forward.
As a purist, I still like 5 day cricket but I have been glued to the IPL over the last four weeks and I cant think of too many test series that can have me riveted for that long!

Banking, TARP and the economy

We are living in the strangest times. America's savings rates are showing record improvements, the unemployment is rising close to double digits, the government is having a large share of the Banks and the financial future is anything but certain. In the past two weeks, there have some positive signs-
a) The credit/ financial crisis seems to be a hitting a bottom- banks are lending again, the toxic assets are showing signs of getting cleared out and the refinancing boom is bringing the mortgage industry back on its tracks.
b) The low end retailers are showing continued sings of resilience, which essentially means consumers are spending, but not for luxury items.
What are the headwinds?
Unemployment and softer retail sales overall.
Obama has been widely criticized but here are three things he has done which are remarkable as a leader-
a) He has acted with speed in building his administration out and the team has hit the ground running
b) He has articulated a clear vision of where he needs to take the country- you may disagree with the vision but he has set a clear vision.
c) He has shown sings of being very collaborative in the global arena.
His performance in G20 was stellar.
On a side-note, the TARP issue is an interesting one. Jamie Dimon on the earnings call said he would like to return the money tomorrow. The government doesn't want to take it back- it seems to be liking the control it has over the banks! Clearly, the banks are not liking the demonization of the industry and the very heavy oversight that is coming with the money. THis will be an interesting tug of war to watch.
I am beginning to see the glass half full and I think are on track for recovery by early 2010.

Indian cricket coming off age...

Of late, I have been sleeping late watching the Indian cricket team perform in New Zealand, and what a terrific job they have done. After a slow start in the Twenty20 format, they came back strongly in the One dayers to comprehensively win the series and now, in the longest version (and arguably the purest form of the game), they defeated in the Kiwis in their own backyard.

This is a refreshing change for at least two reasons.
One- the standard of professionalism in Indian cricket has gone up a few notches. The fielding is decidedly better and they can adjust to most conditions quite well. They have now won test matches in Pakistan, Australia, England and if they can do it in SA, it will take away of "poor travellers" away from them.
Second- they no longer rely on just one or two batsmen to perform. While Tendulkar scored a classy 160, he was not the only person to stand out; Harbhajan bowled superbly, Dravid and Gambhir batted well and everyone else chipped in.

The Indian cricket is coming off age and fans like me are cheering all the way into the night....

The "Bachelor" controversy

I am amazed by the consternation regarding the Bachelor on the ABC reality show dumping his new fiance and going with someone else whom "he really felt for and had a connection".

I am amazed for three reasons.
One- when you have one guy flirting with 25 women publicly on national television, can there really be something exclusively intimate?
Second- If you are one of those 25 women who knows that you are chasing someone who is chasing others, you are setting yourself up for a huge disappointment anyway, right?
Third- I amazed the show is still alive- it is patronizing, horribly manipulative and reality TV gone too far in my view. And why do I say that? Finding your life partner is an incredibly personal decision, something that required introspection and careful thought, two areas completely alien to anything on reality TV. Second, in this particular case, the bachelor had a son from a previous relationship and involving the little guy into this mess would completely ruin his head. Its one thing for adults to play around, lets not kids involved- please! Third, apart from the bachelorette Trista, there is no one whose story on the show has ended remotely happy. So history is against the show too.

Take it off air please. Enough is enough.

Michael Phelps and the photograph...who is the real villian?

I am amazed about the brouhuha over Phelps' picture trying pot. Kellog has thrown him out as their brnad ambassador- he may lose millions in endorsements as he is no longer seen as a role model.
Hmm..lets just put this in perspective. The guy is 23. He is an incredible athlete. A total of 14 golds over two Olympics speak not just to talent, but incredible dedication, discipline and focus. So, after that marvelous achievement in Beijing, he is at a party, has a couple of drinks and someone says, lets try some pot. Ok- I trained hard, I won 8 golds, I am exhausted and exhilirated, the next Olympics is another four years away, what a couple of smokes...I try it- and lo and behold- someone with their phone camera click...Suddenly, I am not a role model. Ooooo- this is so way out of line.
Really?
Cmon- really!! It is not like he is addicted. He took a smoke. Ok- so what? Guys- he is 23. He is an amazing athlete. He can try things. Give him some space. But of course, no. He is supposed to be a saint just because he is so good. When will we ever grow up and not hold our celebrities to double standards...
The real villian for me is the guy who sold the picture for a few dollars. What an absolute jerk! What did he get out of it? A couple of hundred bucks and busting Phelps....cool- well done man- I hope you are gloating right now just as all other paparazzi whose only motive in life is to make lives miserable for people.
This thing is such a sham.
Enough!
We have the economy to worry about. Lets concentrate on bigger and better issues.
Also, would a six month jail term be good for the photograph for invasion of privacy.
Did you say six years?!! I am good with that too actually....

The Politics of Cohesion- An Op Ed from NYT today- worth reading

In 1962, Daniel Bell published a book called “The End of Ideology.” The title struck a nerve because it reflected the view, common at the time, that the United States was about to leave behind the brutal, ideological politics that had characterized the 1930s and the early cold war. The 1960s, it was believed, would be a decade of cool pragmatism. Keynesian models would be used to scientifically regulate the economy. Important decisions would be made empirically.

Instead, we got what Francis Fukuyama later called The Great Disruption. The information economy began to disrupt the industrial economy. The feminist revolution disrupted gender and family relations. The civil rights revolution disrupted social arrangements. The Vietnam War discredited the establishment.

These disruptions were generally necessary and good, but the transition was painful. People lost faith in old social norms, but new ones had not yet emerged. The result was disorder. Divorce rates skyrocketed. Crime rates exploded. Faith in institutions collapsed. Social trust cratered.

As community bonds dissolved, individual autonomy asserted itself. Liberals championed the moral liberation of individuals. Conservatives championed their economic liberation. The combined result was a loss of community and social cohesion, and what Christopher Lasch called a culture of narcissism.

Instead of ending ideology, the Great Disruption produced ideological politics. The weakening of social norms led to fierce battles as groups vied to create new ones. Personal became political. Groups fought over basic patterns of morality.

Republicans tended to win elections because liberals were associated with disorder and conservatives with attempts to restore it. Yet both sides were infected with the same pulverizing style. Politics wasn’t just about allocating resources. It was a contest over values, lifestyles and the status of your tribe. This venomous style dominated politics straight through the two baby boomer presidencies — of Clinton and Bush.

But societies do mend themselves, slowly and organically. In 2002, Rick Warren wrote a phenomenally popular book called “The Purpose Driven Life.” The first sentence was, “It’s not about you.” That was a sign that the age of expressive individualism was coming to an end. New community patterns and social norms were coalescing.

Crime rates had begun to fall, along with teen pregnancy rates and a rash of other social indicators. Young people flocked to perform community service. Couples created families that sought to harvest the gains of feminism while preserving the best of traditionalism.

In the cultural realm, the Great Disruption came to an end. New social norms and patterns settled into place. Barack Obama exemplifies the social repair. The product of a scattered family, he has created a highly traditional one, headed by two professionally accomplished adults. To an almost eerie extent, he exemplifies discipline, equipoise and self-control. Under his leadership, as Peter Beinart noted in Time, Democrats came to seem like the party of order while Republicans were associated with disorder.

Obama’s challenge will be to translate the social repair that has occurred over the past decade into political and governing repair. Part of that will be done with his inaugural address today. Look for him to emphasize the themes of responsibility, cohesion and unity. Look for him to reject the culture, which lingered in the financial world, of anything goes.

Part of that will be done with his governing style. Obama aims to realize the end-of-ideology politics that Daniel Bell and others glimpsed in the early 1960s. He sees himself as a pragmatist, an empiricist. Politics is not personal with him. He does not turn political disagreements into a status contest between one kind of person and another. He is convinced that most Americans practice their politics between the 40-yard lines.

Part will be accomplished with his aggressive outreach efforts. Already he has cooperated with Republicans. He has rejected the counsel of the old liberal warriors who want retribution and insularity.

But the real test will come in the realm of policy. The next few months will be occupied with the stimulus package. And anybody who is not terrified by the prospect of spending $800 billion hastily has not spent enough time studying the difference between economic textbooks and the way government actually operates.

But after that, folks in the Obama camp hope to create a Grand Bargain. That would mean building on a culture of cohesion and tackling the issues that require joint sacrifice — like reducing deficits, fixing Medicare and Social Security and reforming health care. These problems were insoluble during the era of division and distrust. In the climactic season of his presidency, the winter of 2010, Obama would seek to fundamentally restore balance to American government.

If he can do that, the Great Disruption would truly be over. The next chapter in American history would begin on firmer ground.

The Obama Express

Ever since Obama's stunning debut on the national stage in 2004 at the Democratic Convention in Boston, he has offered hope and the promise of peace, prosperity and unity. Today, as I watched him and his family re-enact the Lincoln train journey from Philly to Washington, all of 137 miles, the sense of optimism amongst people was palpable.

That optimism stems from three things.
One- that in his cabinet, Obama has picked people on merit, not necessarily political affiliations.
Two- he is bright, speaks from the heart, is transparent about his agenda, and uncorrupted by Washington polarization.
Three- he pretty much started on the job on the morning of November 5 and so has a head start on the job!

While I love the jingoism, and God knows America can take every ray of hope it can get, my concern stems from the fact that he has probably the most difficult job that any President has had at least in the last half century. The economy is in shambles, US is an unwinnable and unpopular war abroad, terrorism is on the rise, and America is losing its competitive advantage on several fronts- education, energy, manufacturing, infrastructure just to name a few.
Where does he even start?
In my view, the first quintessential first 100 days are going to be crucial. And during that phase, he needs to do three things.
One- be as accessible as President as he has been as a candidate- to the media, to the public- speak directly to people so they can hear him, and make the connection from Barack the candidate, to Barack the statesman.
Two- make his economic plan clear- on stimulus, on banking, on bailouts, on creation of jobs. These are real issues for real people and the sooner he can make public his plans, the better it will be.
Three- He has to lay out a timetable for withdrawal from Iraq. Very few people understand the war, fewer still support it and so many lives have been lost there, just news about that would do a lot to uplift the spirit and mood of the country.

We will see how this all shapes up but as of now, the Obama Express is on a roll, both literally and figuratively.

Parenthood- the second time around!

Having become a dad the first time around on July 28, 2006, I thought the second time would not be that special and how very wrong I was! When Rica and I had our second baby last Thursday in Charlotte, the emotions were overwhelmingly ecstatic. I guess that is what an out of the world feeling is supposed to be- well and truly overwhelming.

The birth of a child makes you truly marvel at the wonderful creation of life itself. And it makes you feel truly humble. It is nothing short of miraculous and even doctors who deliver babies day in and day out understand how special the moment is. What we had not reckoned with was how quickly our elder son, who is two and a half adjusted to his baby brother. Instead of jealousy, which is what we expected, he was more than willing to share his stuff and more importantly, get involved in the chores of parenting itself! We have been wonderfully surprised and we sincerely hope it continues this way.

And of course, we have been reading on kids and parenting and three reads/DVDs I would strongly recommend are-
a) The Happiest baby on the block in book or DVD: This is a masterpiece on how to soothe babies, listen to their clues and communicate with them when they cannot converse with words.
b) What to expect in the first year
c) How to talk so kids listen and listen so your kids will talk: This is more when the kids are above two years of age but the concepts are invaluable around raising a child with self confidence and assurance.

Even as Sachin turns one week tomorrow, we are looking forward to many more weeks and years of joy and happiness.

Sydney Test- Cricket at its very best!

Over the last three hours, I was glued to my television as South African tail held on frustrating Australia's march to victory on Day 5 of the Third Test. And when Steyn got out, we thought it was all over, but there was one last twist- Graeme Smith, with a broken finger and a sore elbow, decided to come out to save the test. What guts, what character- absolutely unbelievable! The crowd gave him a standing ovation and deservedly so- he has shown tremendous character in the series and for a man who is only 27, he is an incredible test player and leader.

This day, and in fact, the entire series has truly exemplified what makes test cricket so riveting. The matches ebbed and flowed right from the first session in Perth; just when you thought one team had the upper hand, the other fought back. There are so many special moments from this series- South Africa chasing down 414 in Perth for victory, JP Duminy scoring 166 with the tail in Melbourne, Steyn taking 10 wickets and scoring a career best 76, Makhaya batting for more than an hour to frustrate the Aussies in Sydney, are all stellar achievements of a team determined to fight till the very end and hungry for glory. They have defeated Australia in Australia, and they deserve the honor.

What made this series great was three things.
One- Two equally matched teams that wanted to fight till the very end.
Two- The incredible spirit in which the series was played. No controversies, no allegation, just pure unadulterated cricket.
Three- The sporting wickets for the three games- at Perth, at Melbourne, at Sydney.

I do firmly believe that for any follower of the cricket, watching the game being played in Australia is an absolute must. The people are very knowledgeable about the game, they appreciate good cricket from both the home side as well as the opposing side, the wickets are sporting- helping both batsmen and bowlers that makes the game very exciting Down Under. I was fortunate to be there in the 2003- 2004, when India fought head to head against the Aussies, drawing the series and Laxman, Dravid and Tendulkar made the bowlers work really really hard, which was fun to watch. I made friends in both Melbourne and Sydney and every Aussie I met told me how grateful he was that the Indian team was making the Aussies work so har for any win- it was fun!

2009 could not have begun with a more exciting test match for a cricket fan, and despite the fact it was well past 2am in the US when the game ended, it was worth losing sleep over!!
What a game!

Reading and cricket

I love reading- but I must admit I found it very hard to read full length books early on- most books couldn't hold my attention for too long.

That was when a friend of mine gifted me Don Bradman's "Farewell to Cricket" and that book changed my reading habits forever.

The book was about cricket, a game I love, and it had incredible insights about not just on the game, but about life in general. I remember underlining portions of the book, re-reading it, and even to this day, I do at times read some of those underlined sections and Don's wisdom, his insights, his views on critics, on fame, on living an honorable life never cease to amaze me. From the time I read that book, I was hooked onto reading, more cricket books first and then books on other topics I was interested in. For some reason though, a cricket classic eluded me till last week when I finally lay my hands on Beyond A Boundary.

Written by CLR James way back in 1963, the book is a product of the anti-colonial struggle, and the emergence of West Indies cricket as a serious challenge to the domination of England and Australia. It is at once both a political and social commentary on the way cricket became a symbol for freedom of expression and a democratization of power that was ahead of its time. I have been reading the book over the last week and I can already see why it is rated amongst the best cricket books ever written.

Amongst the contemporary cricket writers, I think the best is Gideon Haigh, who writes regularly for the Guardian. Pick up any one of his books and you would get the best contemporary perspective on a great game!

Suze Orman and financial advice for 2009

I like Suze Orman- she is straightforward, no nonsense finance professional who has made a living out of advising ordinary people (on her show on CNBC) on how to manage their money and their finances. I have read her books and find them practical and very user friendly. So, when I saw a slim volume from her talking about action planning for 2009, I bought it and was able to read it last night.

Here are the three key highlights of what she has to say-
One- 2009 would be the year to invest in the stock market. The prices are low and the payback for someone willing to stay there for the long haul will be massive. Staying out of the market would be a catastrophic mistake.
Second- Strike the word "deserve" from the conversation this year. What you desire is irrelevant, what you actually afford is all that counts. ( I like how straight she is in whatever she professes).
Third- Reduce or eliminate credit card debt; if you do not have more than 10% down payment on a house, do not buy!
She even comes up with a simple pledge that challenges the readers to a) not spend money for a day, b) use credit card for a week and c) not eat in a restaurant for a month. Her point- little things are the ones that eventually add up.
She also explains why the crisis took place and what was behind the collapse in a lucid manner to the layman without using any of the jargon typically seen in financial journals or magazines. Her clarity and ability to cut to the heart of the matter is what makes her one of the 100 most influential people in the world, from a recent Time poll.

Lest I appear to be too much of a fan, let me say one thing. Over the last year, she has gone very moralistic and tries to give psychological advice along with financial advice. She should just stick with the financials. She is no Dr. Phil (not that I am a huge fan of that guy but at least he has some credentials in that respect). She should realize her key strength is finance for the layman, everything else is secondary.

Bottomline- it looks like 2009 is going to be tighter belts and more rational expectations. We will hopefully to surprised by the power of the rebound! On that happy note, to everyone, Happy New Year and keep reading...