Long ago I had done a posting about Asiad games. One of the friends of the government Hindustan Petroleum had ‘bought’ some guest houses in Delhi – one of hem was for Rs. 5 crores. When I asked them why are they not capitalising it, the accountant laughed and said the buildings will house the athletes…and then collapse, so it is an expense, not an asset. L O L.
Now you have a SICK company called Air India, you have a company which the Minister says is bankrupt (Railways) and another company which is touted as a great buy (NTPC). All these companies behave like hand maidens of the government and give out billions of rupees (45 million US $) to the Congress Wealth games (some people call it the Common wealth games).
If you are a shareholder of Ntpc you can suck your thumb, but you cannot do anything else. My hatred for PSU management is only increasing. I think these are enough reasons not to buy a psu stock ever. Not sure what to do. Want ideas please! Should we throw tomatoes at the next AGM or by then we would have forgotten in the soap dispenser and treadmill stories? hmmm want ideas – will send them to the powers that be…
here I found something interesting
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