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Video

Will Buffett’s biggest Chinese investment get wiped out?

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Links

Linkfest:Sept 26, 2012

Some stuff I am reading today morning:

Coalgate is 96% Congress scam, 4% others (Firstpost)

Deal with Diageo may keep Mallya aloft (Mint)

Warrior duo who sunk Ajit Pawar (MumbaiMirror)

Mukesh Ambani plans telecom reentry (FT)

Playing a game of economic survivor (InstitutionalInvestor)

Astrology guides some financial traders (Marketplace)

Spain has a brand new double crisis on its hands (BusinessInsider)

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SingleMalts

The Most Devastating Single Malt

Thanks to my friend Siddhartha Talya , got my paws on the 10 Year Laphroaig.

This Single Malt was considered so vile to taste that it was actually permitted for sale in the US during the Prohibition as medicine !!

But as times change so do tastes, and now this Islay malt is considered to be one of the best whiskeys of the world.

As usual, reviews by Ralfy follow.Interesting to know why Islay malts are sold in green bottles.

 

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Quotes

Maybe its better not to have too much money

Known as “GL” in the industry, Gopal built the G L Raheja real estate empire over five decades, during which time he gave India its first apartment hotel in Powai and Mumbai its first departmental store, Shoppers Stop. His companies are among the biggest private owner of land in Mumbai and possess properties in other parts of India, including The Carlton in Kodaikanal. He has one son, Sandeep, and two daughters, Sabita Narang and Sonali Arora. The immediate plea in his petition is to stop Sandeep from proceeding with board meetings on September 25 and later, which he says lack his consent.

According to the suit, the genesis of the family feud dates to the year 2005, when Sandeep began fearing interference from the brothers-in-law since his younger sister was detected with brain tumour and undergoing treatment. In 2006, Gopal, “being in absolute power”, rearranged the shares within the family. He retained 42% of the holding company, left nothing to the two daughters, and gave 58% of it to Sandeep, Durga and their two minor daughters with the condition that Sandeep abide by the Raheja family arrangement. After this, Gopal continued as the group chairperson.

But the feud, according to the plaint, did not end. In August 2011, Durga asked Gopal to buy a Rs 100-crore house in London; his reluctance to do so, Gopal says, led to the “unfortunate events and disgraceful behaviour the next month”.

On September 1, Sandeep called Gopal for a meeting along with his two sisters and a brother-in-law. In the meeting, the petition says, Sandeep tried forcing Gopal to sign over all the shares to him and his family. “Sandeep and his wife insisted on an immediate division…. They threatened Gopal that no medical attention would be given to him at home and that he would be left to die.” They also allegedly threatened the sisters.

Sandeep, according to the petition, took the keys to Gopal’s Bandra home, Raheja House, at Pali Hill. On December 29, when Sandeep and Durga were in London, assisted by a locksmith, Gopal entered his home and found it “uninhabitable”, with all the “bathrooms broken down and electrical fuses ripped apart”. When Gopal hired workers to repair the house, the suit says, Sandeep and Durga returned from London and threatened to file a “rape” case against the workers unless they left.

Ten days later, Gopal was “shocked to find that Sandeep had changed the lock to his office cabin in the office too”. Sandeep further humiliated him, the suit says, by asking the staff to report only to him. Gopal says he wrote letters to his son, expressing hurt and requesting him to be “reasonable”. But these pleas and requests for mediation were also rebuffed.

The relation soured further this year with Sandeep’s parents-in-law being brought on board the company, the suit says. On January 28, Sandeep wrote to Gopal, claiming “sole ownership and control” of the empire. The father and son thereafter exchanged acrimonious and emotional letters.

In July, Sandeep wrote a 26-page letter, where he accused Gopal of wrongful agreements with a third party. He wrote that, despite them staying together for 18 years, Gopal appeared to be under “the influence of one Chandrika, a Brahmakumari half his age, at whose behest this entire charade is being orchestrated“. Sandeep also accused his sisters of using their father as a “pawn” to “extort additional monies“. Gopal says the allegations were made to defame him. –from the TOI

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Quotes

How to get happiness equal to an extra 50000 $ a year

After analyzing data on the self-reported levels of sexual activity and happiness of 16,000 people, Dartmouth College economist David Blachflower and Andrew Oswald of the University of Warwick in England report that sex “enters so strongly (and) positively in happiness equations” that they estimate increasing intercourse from once a month to once a week is equivalent to the amount of happiness generated by getting an additional $50,000 in income for the average American.

Overall, the happiest folks are those getting the most sex — married people, who report 30% more between-the-sheets action than single folks. In fact, the economists calculate that a lasting marriage equates to happiness generated by getting an extra $100,000 each year. Divorce, meanwhile, translates to a happiness depletion of $66,000 annually.-from WebMD