Where will TATA go from here?

Kiran at Indian Economy Blog makes a good case of what acquisition of Jaguar and Land Rover (JLR)  can mean for Tata.

To summarize, the argument is that:

• having both Nano and JLR creates global visibility and brand for TATA
  
• it gives TATA a world-wide marketing network
• TATA now have access to R & D facilities of JLR

My take is that its all nice and dandy to list the benefits but the reality is that creating a world-wide brand takes time. (specially in auto industry - Toyota took 30 years to get to Lexus). 

Personally, I am more excited by Nano. If, come September,  Tata delivers on what it promised (a safe,  trustable car for $3000) then JLR's marketing muscle or not, TATA will not just have created a new high-growth market segment but it will have a lead of 3 years over other auto manufactures in that segment.

What does the death of Bear Stearns mean?

Finally, there is a good post on why Bear Stearns collapsed and why its a good model for the rest of us.

Lessons from Buffet and Gates

Brian Haligan talks about some nice things to learn from Warren Buffet and Bill Gates.

I specially liked how important Gates think reading is.

When asked if Gates could be a superhero, what power he'd want to have, he said he'd like to be able to be the fastest reader in the world.

Buffet also thinks that the most important skill he has is the ability to focus. Its important to stress that in our society where every geek thinks that having an attention-deficit disorder is not a bad thing.

On life and career, Buffet thinks that we should do what we love sooner than later and in business that is the biggest predictor of success.

6 traits to get rich

Russ Alan Prince, author of The Middle-Class Millionaire, has been trying to understand the “working rich”. Prince defines them as those with net worths between $1 million and $10 million, but who still work for a living. After talking to 586 such families, he thinks 9 most important factors are:

1. Rich people work longer. Rich people work an average of 70 hours a week and they are "always" available via email or phone
   
2. Rich people network more. They tend to know 60% more people then average.
   
3. Rich people take significantly more risks. Almost 90% admitted of making a big business or career decision with bad outcome. On average they made 3 such mistakes.
   
4. Rich people dont work for salary. Over 80% own a good percentage of the businesses they work for.
   
5. Rich people follow the money. 74% think that following money is more important for the career. 
   
6. Rich people can be ruthless. More than half say taking advantage of others' weakness is an important ingredient for success.