London property prices escalate to new heights

IIPM PUBLICATION
Did you know that as far as prime property rates go, London is way ahead in the real estate business – yes, even miles ahead of New York? According to a report by global real estate services firm CB Richard Ellis that appeared last year, land rates in areas like Chelsea and Hampstead averaged $2,244 per sq feet. In comparison, areas in Manhattan – say Fifth Avenue or Madison Avenue – cost only (in relative terms that is!) $1,870 per sq feet. Now, it seems property prices will go further north – only if there is any more distance left to be traversed in the north! As it is, the whole of United Kingdom is in the throes of a property prices spiral. London may not be leading the charge (areas in Wales and Ireland have actually climbed up the value chain much faster, and the price differential between them and London is substantially more), but even so, in 2006, rates rose by 28.6 percent, and it is now being estimated that the property market in the city may even double! Wow, now that’s quite something! According to experts, primearea prices are rising at the highest growth rate in last 27 years. According to the HBOS (UK’s largest mortgage and savings provider) House Price Calculator, the price of a London house that was £100,000 in 2000 is gone up to £196,246 by this time (of course, we are talking average prices here!). In such a scenario would you like to invest in property next time when you go to see the Big Ben?

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Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

The Bush-led misadventure in the Middle East will have disastrous consequences for the entire global economy

IIPM MANAGEMENT INSTITUTE
This economic strategy was clearly untenable. Household savings became negative for the first time since the Great Depression, with the country as a whole borrowing $3 billion a day from foreigners. But households could continue to take money out of their houses only as long as the prices continued to rise and the interest rates remained low. Thus, higher interest rates and falling house prices do not bode well for the American economy. Indeed, according to some estimates, roughly 80% of the increase in employment and almost two-thirds of the increase in American GDP in recent years has stemmed directly or indirectly from real estate.

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Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

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The General is under siege!

IIPM PUBLICATION
Toyota’s ascension is remarkable for a simple reason that it has reached top by borrowing ideas from the American car business early and improved them. Toyota executives spent months in the 1950s studying factories at the Ford Motor Company. In the same vein, Toyota’s first American factory was a joint venture with GM in California. Later on, Toyota followed American auto companies into making minivans, SUVs and luxury cars, straying from Japanese automakers’ original focus on fuel-efficient small cars. But Toyota departed from the Detroit model in a critical way. Where GM’s leaders followed the philosophy of ‘a car for every purse and purpose’, Toyota has always offered a limited line-up of vehicles. And today, its cars are oft en held up as models for GM and others to emulate.

“As far as pride, it hurts,” said Ricardo Yrlas, 52, a worker at GM in Michigan. Already the industry’s richest player (with more than $12 billion in profits in 2005), Toyota has the resources to invest heavily in newer technologies and products. Toyota’s largest market will remain the US, where sales are expected to rise 6% to 2.68 million vehicles in 2007.

GM needs to work hard to come back. “Right now they’ve got a lot of momentum,” said Hawkins, expressing worries that GM would never be able to take back the top spot after losing it. Looking back now, Tom Lynch, former manager at GM said he saw this moment coming. “We figured that we were going to have a problem,” said Tom. He oft en gave plant tours to visiting Japanese executives. “We taught them how to beat us,” he said.

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Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

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