THE MELT-DOWN
The early eighties. Mr. Mukesh Ambani, like me, was in his early twenties. His dynamic father, the late, Mr. Dhirubhai Ambani, had set up the Reliance Industries and was relentlessly pursuing his dream of making it the 'Number One' Company in the world.
That was the time, I had just landed up in Bombay, to pursue my own dreams. I do not know about Mr. Mukesh Ambani, but, in those early days of mine here, I was too raw and self-conscious. I was desperately trying for a job to keep myself afloat. I had faced many interviews and failed. My self-confidence had hit the rock bottom. In one interview, the gentleman asked me the question:
"How much salary do you expect?"
I said, "Whatever amount you fix."
Well, in those days, I did not know: that meant 'the end'!
Any way, it was a small firm; and so, the kind soul, informed me that they would offer me a monthly salary of Rs. 300/- . Then, he assured me, that if I worked, with dedication, for a year or two, I could hope to earn a 'four-figure' salary.
I remember, after coming home that night, asking my uncle the meaning of that word with the ring - 'four figure'.
"One thousand is a four figure," my uncle informed me. "Don't forget, you have to pay me Rs.500/- every month for your boarding and lodging. So, you better tell him to start with a four-figure, directly."
I had no guts to go back. Leave alone asking for a four figure!
Yesterday's newspapers have a report about the losses incurred by the Super Rich of the world, in the current global melt-down. The report particularly highlights on the losses of the Ambani brothers and Mr. Lakshmi Mittal. Mr. Mukesh Ambani, the report claims, has lost the maximum: an incredible 99-billion dollars!
For a while, my breathing really stopped!
I first tried to convert that into the 'American million dollars'. I struggled hard with it.
Then, I thought I would convert that into our own Rupees, which was a more familiar vocabulary with me. But then, that sounded like a brain-blowing exercise.
Finally, I thought of a simpler idea: I made it a 'round figure'-- '100-billion dollars'!
Wow, what an idea! It was easy now: I had to just multiply it by 1,000 ... Then, by 50 ... And, finally, by 10,00,000 ... Lo, there it was - all in an understandable language:
Rs.50000000000000!
Yes, RUPEES FIVE LAKHS CRORES!
For this, all that I had to do was: to 'lend' Mr. Mukesh Ambani just one-billion dollars from my pocket. And, I did.
Now that Mr. Mukesh Ambani, India's richest man - and, who had almost started off along with me, in life - is my debtor. It's a mighty - super-rich - feeling! Honestly, I don't mind losing a billion dollars as bad debt, in the process of solving this great global-puzzle called 'melt-down'!
At least, in my case, that money (which I lost by lending Mr. Mukesh Ambani) wasn't there in the first place. So, what has melted down?
I don't know about him.
GERALD D'CUNHA
That was the time, I had just landed up in Bombay, to pursue my own dreams. I do not know about Mr. Mukesh Ambani, but, in those early days of mine here, I was too raw and self-conscious. I was desperately trying for a job to keep myself afloat. I had faced many interviews and failed. My self-confidence had hit the rock bottom. In one interview, the gentleman asked me the question:
"How much salary do you expect?"
I said, "Whatever amount you fix."
Well, in those days, I did not know: that meant 'the end'!
Any way, it was a small firm; and so, the kind soul, informed me that they would offer me a monthly salary of Rs. 300/- . Then, he assured me, that if I worked, with dedication, for a year or two, I could hope to earn a 'four-figure' salary.
I remember, after coming home that night, asking my uncle the meaning of that word with the ring - 'four figure'.
"One thousand is a four figure," my uncle informed me. "Don't forget, you have to pay me Rs.500/- every month for your boarding and lodging. So, you better tell him to start with a four-figure, directly."
I had no guts to go back. Leave alone asking for a four figure!
Yesterday's newspapers have a report about the losses incurred by the Super Rich of the world, in the current global melt-down. The report particularly highlights on the losses of the Ambani brothers and Mr. Lakshmi Mittal. Mr. Mukesh Ambani, the report claims, has lost the maximum: an incredible 99-billion dollars!
For a while, my breathing really stopped!
I first tried to convert that into the 'American million dollars'. I struggled hard with it.
Then, I thought I would convert that into our own Rupees, which was a more familiar vocabulary with me. But then, that sounded like a brain-blowing exercise.
Finally, I thought of a simpler idea: I made it a 'round figure'-- '100-billion dollars'!
Wow, what an idea! It was easy now: I had to just multiply it by 1,000 ... Then, by 50 ... And, finally, by 10,00,000 ... Lo, there it was - all in an understandable language:
Rs.50000000000000!
Yes, RUPEES FIVE LAKHS CRORES!
For this, all that I had to do was: to 'lend' Mr. Mukesh Ambani just one-billion dollars from my pocket. And, I did.
Now that Mr. Mukesh Ambani, India's richest man - and, who had almost started off along with me, in life - is my debtor. It's a mighty - super-rich - feeling! Honestly, I don't mind losing a billion dollars as bad debt, in the process of solving this great global-puzzle called 'melt-down'!
At least, in my case, that money (which I lost by lending Mr. Mukesh Ambani) wasn't there in the first place. So, what has melted down?
I don't know about him.
GERALD D'CUNHA
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