The most valuable activity of the human race

In a free world, the price of anything is a reflection of its true worth to people. Something is valued high if it is important to a lot of people. It is valued low if its not so important - OK you can quibble about supply and demand, but in the end, value is a reflection of the worth in which people hold it.

What can you then make of the "fight of the century" that is taking place on May 2nd. Floyd Mayweather versus Manny Pacquiao. A fight between two of the finest boxers of their generation. The usual outlandish hype and outrageous build up , that is predictable for every major boxing match, is on display in ample measure. Where else will it be held, but in the most over the top place on earth - Las Vegas.  I don't know about the "fight of the century", but it certainly is the richest fight in history.

Each boxer is expected to make upwards of $ 100 million for the fight. Yes, one hundred million dollars. Perhaps nearer $ 150 m. To give you a perspective, the next highest paid sportsman in the world - Cristiano Ronaldo - makes $ 80m in a year. The highest paid CEO of any company in the world , Charif Souki of Cheniere Energy Inc made $ 142 million in a year. And these two boxers are going to make probably $100-$150 m for one fight.

Of all the revenue streams, the biggest will be pay per view subscription for watching the bout on TV. The price  just for watching the one fight is likely to be $ 90. Ninety dollars for sitting on your couch to watch a max of 12 rounds. 3 million Americans are expected to sign up.

There is nothing in the sporting world, in any sport, that can remotely match the earnings of this fight. Come to think of it, there is nothing in any field of human endeavour that came come close to this level of money. Let us assume that the bout will last an hour (it could even last 3 seconds but we'll be charitable). That's a gross revenue of $ 500 m in one hour. Walmart the largest company in the world, in comparison makes a measly $50 m in an hour. Yes, I know this is not a sensible comparison, but you get my point.  Mankind places the Mayweather-Pacquiao fight as the most valuable of all human endeavour to be done in an hour. Ever.

I am not a great boxing fan, but I do know a bit about it. Both Mayweather and Pacquiao are past their prime. Mayweather is 38, Pacquiao is 36. They were great boxers, but the past tense is probably right. Both are larger than life certainly. Pacquiao, in his native Philippines, is probably second only to God.  But from a purely sporting perspective, its not even the finest boxing bout ever, leave alone the greatest sporting spectacle of all time.

I know that many readers , including this good friend, will argue that boxing is not a sport at all and should simply be banned. Certainly public interest in boxing is declining, but other forms of entertainment which involves one guy trying to beat the hell out of another , like martial arts, kick boxing and , with apologies to God,  WWF are all booming. I won't pass judgements on tastes of people, but it does strike me as a little odd that human society places the greatest value of all in two ageing fighters trying to knock each other down.

I have long had a dilemma on this matter of the value society places on different occupations. Ask anybody what are the professions which they consider most valuable to society and you are likely to get answers like teachers, nurses, etc. Ask them the professions that they detest and you would probably get bankers as the answer. And yet, look at the where we place monetary value.

Doesn't it say something about us all.

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Money can't buy everything

If you nodded your head saying money can't buy love, that wasn't what I meant ! After all this is a business blog and starry eyed affairs of the heart seldom feature here !!. Money can't even buy the thing money is supposed to be good at buying - a major sports championship.

The trigger for this post is the NBA finals that concluded yesterday. The San Antonio Spurs defeated the Miami Heat to win the "World Championship" of basketball . For the sports purist, it was a wonderful result. The Spurs played sublime basketball. They came back after a heartbreaking loss last year to win it this time around. This is their fifth championship.  But this post isn't about the sport - its about the money.

In sports, superstars make insane amounts of money as salaries. If ever there is a breed even more mercenary than bankers, it is sports stars. Salary levels are simply insane. Kobe Bryant the highest paid NBA star, earned a salary of $ 1 per second ! There are 31 m seconds in a year and that's what he earned - $ 31m in a year. Or if you prefer $ 85,000 every day. And he was injured for most of the season and hardly played - he made all that money sitting on his butt (Sriram please note !). At least Kobe Bryant is one of the world's top players. What about Amar'e Stoudamire making $ 22m. He can't even make it into his own team.

NBA salaries are guaranteed by contract - it doesn't matter if the player plays well or awfully. It doesn't even matter if he is dropped. He just banks the money. The most outrageous case happened five seasons ago and I blogged about it here. In every other field of human endeavour, pay has some link to performance. Not in most sports and certainly not in the NBA.   Player salaries inflate to obscene levels and for the contract duration it absolutely does not matter what the player does.

In this mad world of the NBA, the San Antonio Spurs stand out. Their top players take pay cuts so that the team can afford to hire good players. Their top players - Tim Duncan, Tony Parker and Manu Ginobili, have stayed together in the same team from the beginning. They could have doubled their salaries going elsewhere. They didn't and instead took pay cuts. Their coach Greg Popovich has been coaching them for 17 years. They play together as a team. They are unselfish - there are no giant sized egos. Their young rising star, Kawhi Leonard, won the Most Valuable Player award of the Finals. His salary ?  $ 1.9 m.

Now you can understand, why I am incredibly happy that the Spurs won. This is sports at its best. In a world of giant sized egos, obscene salaries, switching teams at the drop of a hat, the San Antonio Spurs represent modesty, team work and the spirit of sport. There is simply no other major team in any sport, even remotely like them.  Think of Tim Duncan. One of the greatest players the game has ever seen. He's into his 17th year - his contemporaries have long retired. He is still a great player. He takes pay cuts year after year to help the team . He is self effacing to a fault. And he just wins. He played brilliantly in the Finals. It is his fifth NBA championship. This is what sports, and a sportsman, ought to be like.

And here's another reason to love them . In the backwaters of Texas, where you would least expect it, is the most international of NBA teams. Their team consists of two Frenchmen, one Brazilian, one Argentinian, one Italian, one Australian and one Virgin Islander. Of the players who took the court in the last game only 3 were American.

All hail the San Antonio Spurs.

PS. One more reason to adore Tim Duncan. He doesn't tweet. Oh Lord; what a blessed relief :)

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Uber Cup, here we come

This year, the Thomas and Uber Cup tournaments are being held in India. These are the men's and women's world championships in badminton. Badminton is one of the most exciting of sports to watch, even if you do not know much about it. Watching a major badminton tournament in Jakarta, the spiritual home of badminton, surely has to be one of the best sporting experiences anybody can have. Even the sport challenged Sriram's BP would shoot up !

India is world class in this sport, one of the few sports in which it is truly at the world level. The men's team is good, but not really in the top league. Its a different matter with the women however. With the meteoric rise of Sindhu, India has two players in the world top ten and on their day either can beat anybody in the world.

The first three days of the tournament have been on expected lines. The men's team fought well, but will not progress beyond the group stage. The women's team has won its group - they beat Thailand in a famous match last night, with Saina beating the reigning world champion. India had the swagger of a world beater yesterday. The quarter finals now beckon.

I had last blogged about Indian badminton two years ago here. It was then that Sindhu was arriving . I wrote then - " In two years time, the prospect of Saina and Sindhu representing India in the Uber Cup makes you want to drool in anticipation". That day has come.

The only "unbeatable" team is of course China. If you have the current World No 1, 2 and 3 in your team, it becomes a trifle difficult for anybody else to win. But India is right up there with everybody else, and on today's form and with home advantage, a China - India final is on the cards. 

The only pity is that it is being played in Delhi, a sports ignorant city if there was one. Crowds have been sparse (can you believe it), although those who come, try their best to be as vociferous as possible in rooting for India. If only it had been held in Bangalore or Hyderabad .....  We would have brought the roof down. Imagine a China - India final in a houseful Bangalore or Hyderabad stadium. We would have carried Saina, Sindhu, Jwala, Ashwini, Thulasi, Pradnya and Siki on our shoulders. The sheer decibel level might have even seen our girls through.

Forget the IPL. Tune in to Star Sports, all you sport lovers. Go bonkers for our girls. Uber Cup, here we come.

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Shame on India

Spare a thought for Shiva Kesavan, Nadeem Iqbal and Himanshu Thakur.  Who ? you might ask. A luger, a cross country skier and an alpine skier respectively. They are three Indians who will be at the Sochi Winter Olympics that start today. But for the next eighteen days they are not allowed to be Indians. What a shame.

This is because India is currently suspended from the Olympic movement. The Indian Olympic Association's membership of the International Olympic Committee stands suspended. IOA officials have been accused of corruption and criminal charges are pending. Yet one continues to hold his post in the IOA, which is against the Olympic charter. The IOC gave time for the IOA to hold fresh elections and reconstitute the IOA. The IOA did not do it . Consequently India stands suspended from the Olympics.

Shiva Keshavan is a five time Olympian. He will lead the contingent of three in today's opening ceremony. But they will march under the IOC flag, representing as individuals and not as Indians. The Indian flag is banned. They cannot sport the Indian emblem on their uniforms.  They cannot call themselves Indians. The word India has actually become a four letter word.

"There is more politics in sports than in politics,” says sports historian K. Arumugam. Nothing could be truer.  Every sports federation in India is full of politicians. Some have stayed on in their jobs for decades although they are even beyond geriatrics. Corruption and disgusting politics is endemic in Indian sport. The scum that run the IOA don't even care for the shame on the country by seeing the three Indians march under the Olympic flag - they are only interested in their own positions. If there is one field in which I am ashamed to be an Indian, this is it. And I am a sports nut, in case you didn't know.

Sure, India has no history of any sort in the Winter Olympics. For the most part, India is a hot country with no tradition of winter sport. That is what makes the achievement of Shiva, Iqbal and Thakur, all the more creditable. They shine in a sport that is utterly alien to the country. There is absolutely no money in these sports - they raise their own and thankfully the government of India came forward to help them get to Sochi. They are extremely unlikely to win anything (never say never in sport). But the fact that they have gone to Sochi makes me extremely proud of them.

Sack all the administrators of every sports organisation in India. Ban them for life from even approaching a sports field. Only an Indian who has represented India in the sport and who has held no office at all in any sports administrative body ever should be asked to run the sports organisation. As for the lot currently in the IOA, can we all collectively clear our throats and spit on them.

I cringe to be an Indian today. But during the opening ceremony march past I am going to lustily cheer with tears in the eyes for Shiva, Iqbal and Thakur.

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IPO yourself !

Initial Placement Offer (IPO), is the first sale of shares in a company to the public - remember Facebook's IPO and now coming on, Twitter's IPO. It is when successful entrepreneurs who have built a good business cash their millions, along with those who invested early in their company. We've heard of company IPOs. But have you heard of an individual IPOing himself ! That's is what is about to happen - where else ? in the US of A.

An American Football player (remember this is American football; not soccer), is trying to do just that.  Arian Foster is a running back with the Houston Texans, a NFL team. NFL players are paid a fair few millions - being considered more valuable than surgeons or distinguished professors (Profs J and Khe please note !). Now football players are better known for exercising their brawn and are not necessarily top notch in the brains department. Enter financial advisers, brokers, agents, managers and all sorts  who want to touch and feel all that money. Being very bright, they cook up all sorts of ingenious ideas and schemes. The latest is to IPO yourself !

This is how it works, A company has been formed whose only business is the income streams associated with Arian Foster.  They are issuing 20% of the shares of this company for $10 m. He already has a $23.5 million contract with the Houston Texans. In addition he may get endorsement deals and after he retires, hopefully some broadcasting deals. Investors can get a 20% share of all this. If you believe Foster is a huge star, this will be a nice worthwhile investment. If you believe he is a dud, then well .........

This deal sounds strange, but actually is a fairly straightforward affair. The future income flows of a NFL Player can probably be predicted with greater certainty than those of a company. For starters he has a guaranteed $ 23.5 m contract - so a $4m share at 20% is assured. Knowledgeable sports buffs (like yours truly !) can make informed predictions of the future for players. So, this can be an easier evaluation than many others.

I should admit is that this is not the first instance of somebody doing this. The British rock star David Bowie famously did this a while ago. Some other, less famous people have also attempted it. What is strange is all the "innovation" happening here. Surely the best brains in the land can do more productive things than dreaming of an IPO for a player. But then most of the world's innovation is going into areas such as this and not into what society might consider as more useful areas. 

The person most vulnerable in all this is Arian Foster himself. Once he signs this deal, he has virtually pledged his soul to the financial whiz kids. He cannot make any decision anymore regarding anything. If he wants to switch teams, he has to take the approval of the shareholders. If he wants to retire - then too. If he gets injured, he will be cursed and told to get on to the field even if he hobbles on one leg. They will make him do all sorts of endorsements or whatever to earn more money. They might force him to play off season in Matabeleland. And well, after retirement, he has to keep slogging, finding ways to earn more money. Is all this worth a "mere" $10 m.

 Prof Khe might want to to consider IPOing himself too. He can become an instant millionaire. This blogger is prepared to "invest" 24 million manat for a 10% stake in him  !!

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The economics of spot fixing

Yeah Yeah, I am that sort of a nerd. While much of India is agog with the spot fixing scandal that broke yesterday, this blogger ruminates on the economics of it. Yes, he is a weirdo !

Having got that out of the way, a few words on the scandal, for the 3 million non Indian readers this blog gets :)  There is a nonsensical game (anybody who suggests the word cricket in this connection will be personally bashed up by me) in which there is a cash machine called the Indian Premier League. Yesterday three players were caught, allegedly  hand in glove with bookies, manipulating results. That's all you really need to know.

What is baffling me is the economics of it. There are all sorts of reports, but I think it is safe to say that at least Rs 20 lakhs (some $40,000) was allegedly paid to the players to give away a minimum number of runs in an over. Let us say, for this to be profitable to the crooks who are betting on it, they must wager at least an equivalent amount at odds of say 5:1, otherwise its not worth it.  For this sort of betting to be accepted by the bookies and to remain valid, there must have been others betting at least 5 times this amount. So all in all some Rs 1.2 crores ($ Quarter a million) must have been bet.

All this simply on one over !!!!  An over, for the uninitiated, is of 6 balls and takes 3 minutes or so to complete. The way this scam seemed to have operated, there was about 2 or 3 minutes notice to the crooks that it was going to be fixed in that over.

What I want to know is who are these blokes who are prepared to gamble quarter a million dollars in 3 minutes on something as arcane as the number of runs given away in an over in an inconsequential match. And there are 40 such overs in one match and there are some 70 or so matches. The arithmetic is mind boggling.

Who are these jokers ? What do they look like and which planet do they come from ?

PS. Just for the record, the GDP per capita of India is $1,492.

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The spirit of sport

Here's a quiz. Who won the gold in the following events in Beijing 2008.

1. Men's decathlon -  for the title of the greatest all round athlete
2. Women's 1500m - the metric mile
3. Men's football -the most popular sport on earth
4. Women's individual all round in gymnastics - the most "wow" event
5. Men's 50m freestyle swimming - the fastest swimmer in the world

If you scored zero out of five, congratulations. If I modify the questions to simply say which country did the winner come from in each of the above events, and if you still scored zero out of five, then even more congratulations. We are all in the group of 99% of the human race.

If you are wondering where I am going with this post, let me just say that I was inspired to write this by a brilliant column in today's Hindu by Nirmal Shekar.  It is an outstanding piece of writing, even by Nirmal Shekar's high standards and is a perfect exposition of the spirit of sport.

Yes, sport is about winning. But of course, its not just about winning. If you can't remember who won some of the blue riband events of the last Olympics, only four years ago, does winning really matter ? Yes and no, is the answer. Sure, the world loves a winner. Whoever is going to forget Michael Phelps or Usain Bolt from Beijing. But winning, for most, is momentary. Its also about achieving a personal excellence,  a personal ambition, doing your best, and soaking in the spirit of sport.

The spirit of sport is something undefinable. Its why after you batter each other to exhaustion, you shake each other's hand at the end. Its also why after the medal ceremony, all three medalists stand on top of the podium, arms around each other.  Its why Kobe Bryant, on the day he's not playing, is sitting at the velodrome cheering the cyclists , whom he has probably never seen before. Its why, when the national anthem is played, you can't escape tearing up.  Its why it is an indescribable honour for Saina to get her bronze medal from Li Lingwei, one of the immortals of women's badminton, who congratulated her warmly and gave her an affectionate pat. Its also why the antics in the women's doubles event in badminton is such a sad violation of what sport stands for.

So you can perhaps understand, why for me, one of the finest Indian performances in the Olympics thus far, came in the 20km walk , perhaps the most unglamorous event in athletics. It was a gripping event , if you saw it. There was attack after attack and the tactics were enthralling. The Chinese finally dominated and Chen Ding won. The defending Beijing gold medalist, Valeriy Borchin of Russia,  collapsed close to the finish after giving his all and had to be taken in an ambulance. Amidst all the drama, young Irfan, an armyman from Kerala, had the race of a lifetime. He smashed the national record as well as his personal best in coming a close 10th. He barely made the qualification mark for the event in May, and yet here he was at the finish with the world's best, performing way above his level. That is a stupendous achievement , a world class performance if there was one. He didn't win a medal. But his was a fabulous achievement.

I searched today's papers for a mention - couldn't find much. No Chief Minister is going to announce a reward. No shrill TV anchor is going to interview his mother. No crowds are going to receive him at the airport. In the usual tyranny of the first name, surname naming convention, that bedevils most South Indians, they didn't even get his name right - his bib said "Kolathum Thodi" ! Even the TV coverage during the race barely caught him, except his wonderfully happy grin when he finished. But for me, it was one of the highlights of Olympics thus far, by an Indian.

For , you see, he embodied the spirit of sport.

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Who carries the flag tells something about your country

If you didn't stay up all night, that is if you are in India, you missed something. It was a lovely show. Olympic opening ceremonies have easily become the greatest show on earth. Beijing was awe inspiring in terms of sheer magnitude and scale. It was an almost impossible act to follow, but London did, in a very different way. You would have had to be a Brit or a complete Anglophile like me, to appreciate the nuances, but even otherwise, as a sheer spectacle it was magic.

This post is not about the ceremony, or the sport to follow. Its a lazy, and completely unscientific,  interpretation of national stereotypes from their choice of who would carry the country's flag in the parade !

Some nations simply go for glory - they give it to their most famous sportsman. Serbia gave it to Djokovic. Jamaica gave it to Usain Bolt. Veronica Campbell Brown, their senior sprinter amongst the women would have been a more logical choice, but who is more well known than Usain Bolt. Spain was led in by Pau Gasol, the NBA star.

Others gave it , not to their most successful athlete, but the one to whom their hearts went out. Australia let their women's basketball captain Lauren Jackson carry the flag. She'll never win gold , only because nobody can beat the US , but she has made Australia the second best team for so long and even in a country with so many gold medal winners, they let her lead them. The USA's choice was similar. Their logical choice would have been Kobe Bryant, their senior statesman in basketball and easily the most recognised and famous star. Or Michael Phelps, their most successful ever. Instead they gave it to Fencer Mariel Zagunis, who was voted in by their 500 strong team. So typical of that nation that they would elect their flag bearer . Both countries, sporting giants on whom success rests easily.

The individual class act was Switzerland. Roger Federer is easily the most well known Swiss athlete. He carried the flag in Beijing, but this time, he gave it to his doubles partner Stanislas Wawrinka. Trust Federer to do something as classy as that.

The award for boldnesss should go to Zimbabwe. Kristy Coventry, their champion swimmer, carried the flag and she is easily their most successful and best sportsperson. But she is in virtual exile in the US , and is opposed to Robert Mugabe, although he has embraced her as a national treasure. Here she was, carrying their flag.

India's was easy. Leander Paes should have been the obvious choice as this is his fifth Olympics, but the man has aged badly and nobody likes him anymore. Abhinav Bhindra, Gagan Narang, Saina Nehwal and Vijender Singh, other possible candidates are all competing on Saturday or Sunday and had to miss the ceremony. So it fell on Sushil Kumar, bronze medalist from Beijing to carry the tricolour.

But the most disappointing act was China's. They had a clutch of great sportsmen and women who deserved to lead them in. Lin Dan, perhaps the greatest badminton player of all time. Liu Xiang, the 110 metre hurdler who is China's favourite sportsman - but they are so paranoid about the guy winning, that they wouldn't even let him go to the loo unchaperoned. No way they would let him risk four hours standing around. What about Li Na, French Open Champion from 2011. Or Sun Yang, the champion distance swimmer. Instead their criteria was that the flag bearer had to be male, had to be tall and had to be handsome. Yuk ! Yi Jianlian, a second rate basketball player led them in, even though China has won nothing in basketball and will never win either. His sole redeeming feature is that he is some 7 ft tall ! Come on China; you are the greatest sporting nation on earth. Do you have to be that insecure ??

The Games have begun. Ahhhh.; two weeks of sheer bliss.

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A sporting classic from the past

The telly in this blogger's household leads a cushy life. It is in a state of perpetual rest. It is only occasionally called to perform and then immediately sent back to the state of rest with an apology for disturbing the slumber. All that changed a week or so ago.

You see, ESPN has bagged the rights to telecast the London Olympics which begin in a couple of months. As a lead up to this event, ESPN has been airing some memorable documentaries of past Olympics. If ESPN marketed those videos they are airing, I will stand in line for 72 hours in Chicago in freezing winter to buy them ! There are some absolutely riveting stories there. This post is about one such memorable sporting event.

Atlanta 1996. The rather unglamorous sport of weightlifting. What happened that Monday will go down in sporting legend as one of the great days of sport. It was the 64 kg category - not the man mountain variety. Naim Süleymanoğlu from Turkey was already a legend. Nicknamed the Pocket Hercules for his short stature, he was, pound for pound, the greatest weightlifter of all time. He was an absolute hero in his country. He was already a double gold medalist - from Seoul and Barcelona, but was now coming out of retirement to compete in Atlanta. His main competitor was the world record holder Valerios Leonidis of Greece. Adding spice to the contest was the fact the Greece and Turkey share a relationship somewhat akin to India & Pakistan.

The atmosphere in the hall was electric. On the left were legions of red Turkish supporters. On the right were the blue Greeks. Flags were waving everywhere. The noise was deafening. The event has two types of lifts - snatch and clean & jerk. Each lifter has three lifts in each category and the sum total decides the gold medal. When the snatch was over Naim had a 2.5 kg lead over Valerios. The drama reached a crescendo in clean & jerk. Naim went for a world record at 185 kg with his second lift and succeeded. Valerios asked for 187.5 kg for his second lift and succeeded, beating the world record  Naim had just set. Remember these guys were 64kg in body weight  - they were lifting three times their body weight. For his final lift Naim went for 187.5 kg and succeeded, equaling the world record just set, but would win the gold medal  since he was carrying a lead from the snatch. For the final lift of the competition, Valerios asked for an unbelievable 190 kg (10 kgs more than he had ever lifted before). He lifted it to his shoulders but couldn't complete the lift. The Pocket Hercules had won his third gold medal.   The men embraced. The public-address in a rare departure from the cript, actually said, "Ladies and gentlemen, that concludes today's competition, and you have probably witnessed one of the greatest weightlifting contests in the history of the world."

Later on as they lined up for the medals ceremony, Leonidis sportingly patted Süleymanoğlu and said "Naim, you are the best". To which Naim was reported to have replied , "No Valerios, WE are the best"

You can catch a little of the drama here. Of such stuff are sporting legends made.

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Excuse me, which way is it to Omaha ?

Where on earth is Omaha ?? I must confess I had to look it up on a map. God - its in the middle of nowhere. Who on earth wants to go to Nebraska anyway. Well, this weekend, all roads lead to Omaha, if you are a certain type who likes to make money. For its the annual jamboree of Berkshire Hathway, and one old man named Warren Buffett.

I really don't understand why anybody wants to go to that blessed event. I mean, can there be any excuse for wanting to go to Nebraska ?? For God's sake ! To listen to words of wisdom from the "Oracle of Omaha" ?? Please, spare me the thought. Warren Buffett is no sage. In any case, if the multitude that go there even care to listen to him, they wouldn't be going there in the first place. For after all, he has been saying for donkeys years , don't listen to self proclaimed sages. Don't go on tips and hunches. Do research. Invest for the long term , etc etc. Everybody goes there to get tips on investing. They haven't understood what he has been trying to tell them - don't listen to tips. Whoever said that there was a surfeit of brains in the investing community.

But I want to go to Omaha !! I wish I was there this weekend. But not to listen to the old man. Or even have the free ice cream they dish out. I want to be there for a far more important reason. I want to have a chance to challenge Ariel Hsing to a game of table tennis.

You see, Warren Buffett is an amateur table tennis (ping pong, if you prefer) player. Typical of him, he spotted a talent in Ariel Hsing, when she was 9 years old. He brought her to his annual jamboree and then challenged anybody to beat her - the winner gets a box of candy. In the six or seven years, nobody has beaten her. She is now 16 and has made the London bound US Olympic Table Tennis team. In one of those years, she thrashed Bill Gates, who is an amateur player himself - one of the few occasions when Bill Gates has been thrashed in anything. Buffett even joked that Bill Gates' manhood has taken a severe beating losing to a pre teen !!

So, attendees to the Berkshire Hathway AGM can challenge Ariel to a game. Well, I have some claims to playing a decent standard of table tennis. I rather fancy my chances. Of course, I would chivalrously lose in the end, but after giving the lovely lady a bit of a running !!

Unfortunately Bangalore to Omaha is a fair way, although the opportunity to play with a lovely lady must move a man to trek to the moon. In my younger days, sure.  Alas, with the advent of years ....... I shall therefore pass the opportunity to Gils, who is not far away - he having recently shifted to an equally obscure and godforsaken place, rather close to Omaha !

As for Ariel, good luck in London, young lady. The US team, as indeed many other teams, is entirely made of ethnic Chinese. They will soldier bravely, but really have little chance against the real thing -  China. Which other country can afford to drop the current World No 1 man and woman from their team ?? That's exactly what China has done. Perhaps not that surprising, when they also have the No2, No3, No4 and No5 !!

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The tale of two events

Two completely unconnected , and perhaps insignificant, events in Bangalore provide the fodder for this Sunday's post. Both were unadvertised, and both were free in the sense there were no tickets. But the contrast could not be bigger

Today I went to a short Carnatic recital by Ranjani and Gayatri who are renowned singers in this genre. Carnatic music is enjoying a revival after it had gone comatose some 15 years ago. The recital was in Chowdiah Hall , Bangalore's only decent theatre hall. To my amazement, the hall was full; some 1000 people came to hear the duo sing. Granted the audience  mostly had white hair (or no hair) , but still ......  . Ranjani and Gayatri sing very well , they tandem together beautifully. Even if you don't have a taste for this genre, try listening to this piece from them. Lovely music. But even then, the packed hall stunned me.

A week ago, the National Badminton Championships were held at Bangalore. India is near world class in badminton. China, Indonesia etc are a class apart, but India nowadays features in the first division. Saina Nehwal was not taking part, but there was enough class on display. This year saw the emergence of the highly promising talent in 16 year old PV Sindhu who won the women's title. She is already near 6 feet and has a lovely game which will improve with age. In two years time, the prospect of Saina and Sindhu representing India in the Uber Cup makes you want to drool in anticipation. But back to the Nationals. Total audience - 50 ; of whom 49 were parents or friends of the players. Yours truly was probably the only unconnected  fan.

Getting a crowd in India should be no big deal - after all there are a lot of people in India. Chowdiah Hall fills up for any type of concert; any genre of music. Rock or Hindi film concerts have to be held open air in Palace Grounds to accommodate maybe 10,000 people. And there were 50 people to watch the badminton Nationals.

Now you know why India produces soulful music - Hindustani, Carnatic or Film. Now you also know why India wins nothing in sport.

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A classy speech

Rahul Dravid, India's elder statesman of cricket, delivered the Bradman Oration at Canberra last week. If you want to hear a classy, graceful, charming, stylish speech, look no further. Class, grace, charm and style define the man and perhaps it is but natural, that his speech was all of that.  It is about cricket, of course, but even if you are not a cricket fan, listen to it if you have the time - this is how a speech should be made. Its 40 mts long, but I really wished it wouldn't end.

Rahul's speech follows in the lines of another classic speech - from Kumar Sangakkara of Sri Lanka, when  he delivered the Cowdrey lecture in July. Another gem, you can listen to here .

English oration is alive and well in the colonies, atleast in the sporting world !

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A dog saves the day

A dog might prove to be the unlikeliest saviour of Formula 1, a sport that is direly in need of saving . Bravo India, for unwittingly pointing the way ahead for the sport.

Today is the first ever Indian Grand Prix - held at Noida, at the Buddh circuit, just off Delhi. Why it has come up in Delhi is a mystery - the racing capital (of whatever racing there is) of India is Chennai or Coimbatore. But Delhi it is. This is the fag end of the Formula 1 season; the championship is already decided and there is very little to drive for. But then Bernie Eccleston, the boss of F1, has grasped that the future of the sport  depends on the growing audience in Asia - that's why in the last three or four years, new Grand Prixs have come up in Beijing, Singapore, Bahrain, Abu Dhabi, Istanbul (almost Asia !), Yeongam (Korea) ; to add to the more traditional Asian venues Suzuka (Japan) and Sepang (Malaysia). Now India.

Formula 1 has become a bore. The results are completely predictable; superb safety measures have ensured that there are far fewer crashes and  rules are changed every 15 days until nobody knows what they are.  There are no more flamboyant personalities of the likes of Ayrton Senna - today's drivers are more technical automatons. Even the pretty girls hanging around in skimpy clothes seem to be rather muted. I haven't watched a Formula 1 race for the last two seasons - its become that boring. When a sports nut like me does that, there is something seriously wrong with the sport.

India might offer the redemption. On the first practice session on Friday, a dog ran on to the track and the session had to be stopped for some 20 minutes. This was the most happening thing that day - the rest of it was predictably boring. Now, any Indian knows that a car tyre is irresistible to a dog.  In some cases, it is even irresistible to humans, but we shall let that pass.

So here are some very Indian ideas to make the sport hugely more exciting and get the fans back

• Introduce the Indian cow (preferably with a calf) to roam the circuit at random
• Two wheelers featuring two types of Indian drivers must be in the circuit - the rambo who thinks he's Rajnikanth (or whoever) and revs up his pitiful 85cc mobike and tries to do a wheelie or the uncle and aunty (100 kgs each) with three kids on a wobbly moped.
• The tractor who comes in the opposite direction to the racing  with headlights on 
• The overladen truck who is parked right in the middle of the fastest section of the track, camouflaged to be invisible. For good effect a small branch with four leaves can be placed 10 metres behind as a warning.
• One giant crater right in the middle of the first corner (measurements - 1 ft by 4 ft and at least 2ft deep)
• Four completely invisible speed breakers that will hit the underside of the chassis, placed strategically where the driver will least expect it.

If Sebastian Vettel (the current world champion) can navigate that and win the race, then the crowds will come back for the thrill. Formula 1 will become the most thrilling spectator sport in the world.

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Waltzing Matilda

It's an Australian winning the Tour de France for the first time ever. Just got off the telly watching the final stage of one of the most gripping of races for many a year. On a bright sunny day in Paris, against the wonderful backdrop of the Champs-Élysées, the sight of Cadel Evans winning the Tour de France was a moment to savour.

Apologies to the readers who are not sports fans, for the second consecutive sporting post. But this was a special race and a special result that I simply can't resist posting about. The Tour de France is the world's premier cycling race. Has been so for 100 years. It is run over 3400 kms and in 22 days. One of the greatest endurance events in the world. On flat stages, cyclists clock average speeds of 50 kmph. Steep climbs have to be negotiated and on the descent, crazy speeds of 90 kmph are reached. The majesty of the towering mountains of the Alps and the Pyrenees provide the backdrop. As does the beautiful French countryside. And some gripping sporting action.

Alas, for the last few years, cycling as a sport has been hit by massive doping. Almost every rider seemed to be doping and many a big name got caught and banned. The sport seemed virtually doomed. But this year, the Tour de France was almost dope free - only one rider got thrown out. Speeds came down and it was an open open race. Any one of 6 or 7 could have won it , virtually until the penultimate day. Extremely competitive it was and every day had a plot with the outcome  not certain till Saturday's penultimate stage. Stirring stuff.

The sport seems to be dominated by Europeans. A few Latin Americans are seen. No African or Asian even rides the race. The Amercians have a peculiar situation - not many ride the race, but two great winners in the past - Greg LeMond, and the sainted Lance Armstrong, have been peerless and flown the flag for America. But the Spaniards, the Belgians, the French, the Italians, the Germans and the Dutch are seen all over the race.

But today , it was a day for Australia. Cadel Evans, almost the only Australian cyclist of note, won the Tour at last. He had finished second twice before. He is 34 and old in the sport. His time seemed to have past. But not this time.  He was very brave in Alps and his performance on Thursday and Friday was majestic. But he still wasn't in the lead going into Saturday's time trial. How he blew them away and won it with a supreme effort, will be the story of this year's Tour.

Australia may not go mad tonight, but overjoyed it surely will be. Its a great sporting nation, full of heroes. But even in that elite company, the achievement of Cadel Evans is something special. Australia is not a powerhouse in this sport and by sheer grit and dedication, and after so many disappointments, Cadel stands on top of the world on one of sport's greatest theaters.

Can I hear the strains of Waltzing Matilda in the background ?

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Go ladies, Go

If you are a sport's fan , you are somewhat spoilt for choice today. If you fancy sublime South American football, the Copa America is on in Argentina. The final day of the British Open golf, with all the hype surrounding the next Tiger Woods - Rory McIlroy may be your choice. Or the majestic Tour de France, the world's premier cycling event, thankfully free of any doping scandal so far. But my pick of the day is none of this.

You may be forgiven for not realising that the World Cup football final is on today. Yes, right. World Cup Football. Rub your eyes again. Yes. Its the Women's World Cup football final.

Before you groan and switch off, just consider the fact that the Women's World Cup has produced more drama, excitement, heartbreak, and joy than the boring Copa America going on at the same time featuring the likes of Lionel Messi. 

Women's football is something of an anachronism. If you have watched a women's game, it is played at roughly half the pace of men's football. In no other sport is the gap between men and women so obvious. Other sports try to make women wear short skirts to attract viewers (shame on you, badminton). Women in football wear the same awful shorts that the men wear. They aren't good looking - there are no Maria Sharapovas in footballs. So why should you get all jumped up about a sport where "there is nothing to see".

Here's why. The referee hardly blows her whistle in a women's football game. The game flows. There are no crunching fouls, no head butts, no cynical theatrical posturing. There is plenty of skill, even if the game is at half the pace. They play as a team - there are no huge heroes although Marta of Brazil has a cult status similar to her more illustrious male counterparts.  And therein lies the beauty of sport. Its not just the sheer standard or professionalism that matters. Its the joy and excitement it can bring, even if the standard is just club level.

The World Cup has had its many moments of drama. Germany was hoping to win for the third consecutive time and that too on home soil - but they were beaten in a gripping classic in extra time. Brazil, a perennial favourite was beaten on a penalty shootout in the semis in another nail biting encounter. And two wonderful teams have made it to the finals today. The United States, a powerhouse in the game, but not doing very well recently, made it against the odds with grit and determination. In a land where sport is at a sorry state with the lockouts of the NBA and the NFL, the ladies have brought great cheer. And what of the other finalist ? Nobody gave them a hope. After every game, they hold a banner "To our friends around the world, thank you for your support". Post the recent tragedies in their country, there was always going to be public support, but even after they dumped Germany in that historic game, they are being supported by Germans - such is their charm.

TV ratings are through the roof. Germans, the most  masculine of nations, and probably the only country where the natives call it the Fatherland instead of Motherland has embraced the World Cup totally. TV ratings in the US have zoomed with a public charmed by the story of ordinary athletes, not multimillionaires, achieving glory. But in the land of the rising sun, nobody even knew there was a tournament going on when it started. But, with each win, the momentum has snowballed. The vagaries of time zones means that the final starts at 3.45 AM Japanese time. You can bet there would be many up and cheering the Nadeshiko with bleary eyes.

Its Japan vs the United States tonight. Its Christie Rampone vs Homare Sawa. For once, I can't bear to see either team losing.

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Salary of $ 25 million and on strike

Just imagine this. You earn a salary of $ 25m a year. And then you go on strike demanding improved wages. Believable ?? You better believe it. Kobe Bryant (arguably the best basketball player in the world, for those readers not familiar with sport), earns that salary, but is on strike from tonight. Actually not just Kobe. Every basketball player who plays in the NBA ( unsporting types - that's the National Basketball Association, which runs the League in the US of A.)

The NBA is a private league. Players have formed a union and there is a collective bargaining agreement every few years. The last agreement expires today. Negotiations with owners of the teams has broken down. No deal; so there is a lock out.

The team owners are losing money. The players claim they aren't getting enough money. Despite the wild popularity of the game. Unlike other American sports such as Football (the American variety) and Baseball, which have limited appeal outside the country, basketball  is wildly popular in Europe, and most important of all, in China. Yet the League loses money. As always, money is at the heart of the dispute.

The issues under negotiations are technical, perhaps only of interest to a die hard NBA fan like myself. Both the owners and the players are driven by absurd greed. The trouble is that there are a lot of others, who depend on the NBA for a living, but who don't have a say in this matter. You would think the players should be the last group that needs a union, but that's the way it is. With the lockout, what's going to happen to the cheerleaders. The ushers and ticket sellers in  the stadiums. The guys who clean the locker rooms. The pretzel sellers. All out of a job and on the dole.

And what about the fan. He's the one who pays all of them - owners and players included. If the millions like me stop following the game, there is no $25m for Mr Bryant. Of all the people the owners and the players are taking for granted, its the fan. The poor little (or big !) Joe Public who is passionate about the game. Who relives every great moment in the sport. Who remembers the famous dunk of Shaq against Portland. Or Jordan's 20 footer in Game 6 against the Jazz with 5.2 seconds to go. Or his 38 points against the unfortunate Jazz, battling flu, dehydration , sick as hell. Even Derek Fisher, the current head of the Players Union winning against the Spurs with a shot taken  0.4 seconds before time expired.

You lot - owners and players alike -  need a bollocking. Pampered rich kids who need to stop throwing tantrums. Don't quibble over small change when you guys are very well off. Get an agreement, lift the lockout.

And may the great game keep flowing.

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Chicken Tikka Masala in Old Blighty

Chicken Tikka Masala is reputed to have taken over as the national dish of Britain. Perhaps the best example of reverse colonisation, although it must be said that overthrowing "British food" is not as great an achievement; such being the epicurean significance of the cuisine in Her Majesty's land. Actually its a Bangladeshi takeover, given that 99% of the curry houses in Britain are run by Bangladeshis. But we shall lightly pass over Bangladesh propagating "Balti"cusine" and such other monstrosities.

Stay with the chicken. British affinity to consuming this hapless avian is the only logic I can find (after much scratching of the head in vain) to explain the take over of Blackburn Rovers , a Premier League football team, by Venky's - an obscure chicken farming company from India.

Firstly the facts. Blackburn Rovers is a struggling middling football side in England. Its been bought out by Sri Venkateswara Hatcheries for £ 53 m , an Indian family firm, run by Anuradha Desai and her brothers. The takeover was completed yesterday and the team's home grounds are henceforth to be known as Venky's Ewood Park !

Foreigners taking over English clubs is not something new. It is mostly rich tycoons doing it for vanity - witness Roman Abramovic and Chelsea. They lose pots of money, but they don't care, for it barely makes a dent in their fortune. Owning a football club is like digging a hole and pouring money into it endlessly. Its the biggest dud when it comes to a business investment. Even Manchester United the most famous and richest of them all is financially in ruins. Nobody makes money except the players - its the only field where you can make outrageous salaries (think of a salary of £35000, ie Rs 25 lakhs per day) whether you perform or not.

Anuradha Desai does not fall in that boat. She is no playboy. She isn't a household name, even in India. She is known for prudently growing the company that her more illustrious father built. If she had a passion for football, it has thus far been well hidden. Beyond the usual blah blah that is made after any acquisition - we will grow together, we see a bright future, and such other rubbish, she displayed her ignorance of football by saying she is not going to pour money in to buy players. The economically challenged rabid English fan wants his favourite club to be owned by a zillionarie who'll write a blank cheque to buy every player on earth. He doesn't want to see prudent business principles.

There is zero brand value for this investment - can't imagine Venky's Chicken Tikka Masala in the menu. Sitting in the owner's box and watching Blackburn lose on a miserable cold and windy winter's day cannot be her idea of happiness. Back home in India, seeing handsome hulks sporting the Venky's logo on their football shirts is not going to make Rajalakshmi eat chicken.

Of all the bewildering acquisitions that happen in the business world, this must surely take the cake.

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Hail the Queen

All rise and applaud the magnificent Kim Yu-Na. Kim who ? You could be forgiven for asking that if you aren’t into winter sports. But if you have been following the Vancouver Winter Olympics, you cannot , but be mesmerized by the story of the wonderful Kim.

Kim Yu-Na is arguably the most famous athlete in South Korea. All of 19 years old, she’s dubbed “Queen Yu-Na” and is a superstar in her country. She was the overwhelming favourite to win the women's figure skating event in the Olympics. A nation’s hopes was riding on her shoulders – South Korea had never won anything in the Winter Olympics apart from speedskating. They are having a great Olympics, winning well beyond their expectations, and their Queen was their brightest hope. But her long time rival Mao Asada of Japan was a formidable threat. And the emotions and the crowd were with Joannie Rochette, the Canadian, who lost her mother only a couple of days before. This is an event where America has traditionally dominated – no South Korean had ever won before.

Kim came out and stunned the world. She smashed the world record and almost delivered perfection on ice. These are sporting moments that transcend history. Like Nadia Comaneci’s perfect 10 in Montreal. Like Usain Bolt’s 100m in Beijing. Like the tied test between Australia and the West Indies in 1960. If you can get to see the video, do it – commercial rights being what they are, we are unlikely to see it in the public domain, but you can see the short program she did the day before at www.youtube.com/watch?v=lK_z0LtRu3M&feature=channel (sorry Net Nanny has become very painful these days)

There are a small bunch of people who carry enormous expectations and the weight of their whole nation on their shoulders. Its incredible how they do it. Like Cathy Freeman of Australia in the Sydney Olympics, Like Michael Phelps in Beijing, Like Brazil’s football team whenever it steps on the pitch, Like Sachin Tendulkar of India for the last 20 years. There must be some incredible greatness in them that they carry such a weight and still pull it off.

This Winter Olympics in Vancouver has been a great success. So many stories that make your heart go thump-thump. Today is the men’s ice hockey final . This sport is a religion in Canada. Their team is expected to win every time. They are in the finals. And they meet a traditional rival in the US. The US have never won in the Olympics outside of their own country – but this team is in such roaring form that they are the favourites. They’ve already beaten the Canadians in the preliminary rounds. But the finals is a different matter altogether. It will be one cracker of a game.

But even amongst all the drama, this Olympics will be remembered for the sheer poetry on ice that Kim Yu-Na created. There are some times when you just revel in a sublime sporting moment. This was one such moment. All hail the Queen !

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A moment in time for the grey haired generation

If you are a golfer, or a fan, or even a casual sports enthusiast, you could not, but have been riveted at the happenings in the British Open last weekend. Tom Watson, one of the all time greats in the game, and now 59, rolled back the years to force a playoff with Stuart Cink, and heartbreakingly lost. For a moving writeup on the most dramatic of British Opens, click here.

This has great relevance in business too, as its getting to be a young man’s world even there. Tom Peters has made one of his best ever posts on the relevance of Watson’s doings to the baby boomers – being a good American, Tom has related it to the greying generation in the US, but it has relevance to every 40+ in business.

Its a lovely post from the great man, and I offer it here, with no comment.

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Astronomical Pay

How would you like a job offer somewhat like this

- guaranteed 5 year contract – you cannot be sacked

- first year wages $ 15.5 m, or $ 43000 every day

- automatic wage increases every year so that the fifth year wages is tripled at $ 48m. That’s a pay hike of 25% per year

- all these wages are irrespective of performance. Doesn’t matter at all how you perform

- you really have to work only 100 days in a year. The real work is only for 90 minutes in those days – but add and subtract getting ready for work, maybe 4 hours

- you are allowed to make money on the side. And the money you make on the side is going to be a multiple of your wages. So much so, that your wages is actually small change. That’s why its called wages; not salary !

- your cost to your company is $ 60m a year

- the government is very kindly helping you out by having a special tax rate of 25% to give you an incentive to come

- your employer is supposed to be a “non profit social trust”


And there is a not a pipsqueak in public outrage. No moralizing on fat cat parasites in the midst of the toiling masses. No sermon from pompous politicians. No “Pay Czar” to examine this package.

Welcome Cristiano Ronaldo to Real Madrid.

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