Bail and not jail2 min read . Updated: 06 Nov 2011, 10:15 PM IST
Bail and not jail
Bail and not jail
Your turn to talk
We thank our readers for some very interesting letters in response to our stories and columns. Do continue to write to us at email@example.com.
-Deendayal M. Lulla
The article on Steve Jobs (“Not a very nice man to know" by Sandipan Deb, Mint, 21 October) was in poor taste. It smacks of a desperate attempt to take a contrarian view on a businessman the world adored and reveres. In the piece, it seemed that a few random, unsupported incidents were put together hurriedly.
The fact that Jobs was intensely private and admitted his mistake about denying paternity in his official biography, is testimony to his honesty. Yes, it is also true that Apple was involved in the backdating of stocks. Jobs had apologized for the incident. Charity? He didn’t ape others in business and there was no need for him to do so in social responsibility either. You have probably not heard of the incredible power of “cause marketing". Apple is one of the four brands participating in Product Red to help fight AIDS in Africa.
Perhaps it would have been better if the writer had delved deeper into facts concerning Jobs’ life before criticizing a person who transformed innumerable lives. One small paragraph on the nondescript Mr. Smith sounds silly at best. Jobs belonged to the modern era of communication. In this rather well-connected world, which his own revolutionary devices have made possible, it would have been difficult to adore him if he were indeed not a nice man. One would not have seen such an outpouring of grief from millions of people worldwide, if people didn’t see genuine goodness. It is only true the world is immeasurably better because of Steve Jobs.
This is with reference to Anantha Nageswaran’s column, “Euro Currency-RIP" (Mint, 3 October). In May 2010 when the rescue package for Greece had just been secured, there remained many unanswered questions. The partial bailout from the International Monetary Fund (IMF) made a mockery of the body’s principles.
Now, it is well-known that IMF helps only in cases where countries run into balance of payments problems and not fiscal ones as in the case of Greece.
Clearly, the countries that cobbled together this package were concerned about the effects of a Greek collapse on their economies and on the future of the Euro.
The question is that will these countries muster the same will and similar resources if a developing country gets into the kind of trouble the Greek economy faces today? The answer is not clear.Now, one-and-a-half years down the line, the situation has not improved one bit, rather it’s much worse now. Greece’s main revenue contributors are tourism and shipping.
Tourism, surely has suffered given the huge social unrest in the country. The country’s parliament has come out with another austerity package whereby it intends to cut jobs, reduce pension benefits and also introduce a property tax. But will the Greek population even have the means to pay for these taxes? As you mentioned, there will be significant costs to the world. Delaying tactics are only exacerbating the situation.