Is the media going overboard in its coverage of the Ambani feud?
The war of words between the billionaire Ambani brothers took an unexpected turn when younger sibling Anil offered an olive branch to elder brother Mukesh in a bid to resolve a feud over the split of the Reliance business empire in 2005.
The widespread coverage the Indian media has given to the squabble between the brothers has led to a debate on social networking sites such as Twitter, with some accusing news organisations of playing host to a reality show or soap opera that stars the Ambani family to boost ratings.
Prominent columnist Vir Sanghvi wrote through his Twitter account virsanghvi: “Do you think some network should plan a reality show on the Ambani battle? Or are they doing it already on the news?”
But the battle between the billionaire Ambani brothers is not a manufactured product for mass entertainment, as it involves two of the world’s wealthiest men and could pose a stumbling block to India’s goal of achieving energy security.
The siblings have been involved in several disputes since the family business was split in 2005 following the death of their father, Dhirubhai Ambani, a legendary Indian business tycoon who built Reliance from scratch.
The latest of these disputes is over a deal for Mukesh Ambani’s Reliance Industries to sell gas to Anil Ambani’s Reliance Natural Resources at below-market rates as agreed in the 2005 family settlement, brokered by their mother Kokilaben.
The dispute has drawn in the government, which claims it is the rightful owner of the gas. The government can also decide who can buy gas and at what price, but it has been accused by Anil Ambani of supporting Reliance Industries.
Less profit is not loss
The times they are a changin’, and indeed they have. For better or for worse, I am not sure, but what has changed is the way we look at making money from money.
Call it what you may — credit crisis, crisis of confidence, financial tsunami, meltdown — erosion of wealth is never good news. And rattled markets often lead to political turmoil and even shift in power.
So what is happening in the markets, economy, and banks; well, with anything to do with the art and science of making money?
Global markets have turned schizophrenic, banks are not lending and investor over-confidence has turned to no-confidence.
To some extent I agree with Roy’s logic that less profit is not loss as it is also well said that every single Penny saved makes a Pound and if you manage to save the Pound, that’s a big deal. So reisk averse people should try avoiding the security markets as it involves a great degree of a risk as unpredicted fundamentals may impare the value of their investments. So one should wisely invest as a Rupee saved is a Rupee earned and equity could be a diversified option for those who have hefty bank balances at their disposals and are prepared to bare losses.
from Money on the markets:
Less profit is not loss
The times they are a changin', and indeed they have. For better or for worse, I am not sure, but what has changed is the way we look at making money from money.
Call it what you may -- credit crisis, crisis of confidence, financial tsunami, meltdown -- erosion of wealth is never good news. And rattled markets often lead to political turmoil and even shift in power.
all said & done, the name “reliance” tends to be anything but reliable…!
the media is, as well, trying to make delicious hay of trp rating while the feud goes on..on..& on.
the ultimate sufferer is alas the investor(s)-as always.
btw what was the govt doing until the brothers’ feud was heard in the court?