Dalelorenzo's GDI Blog
6Jul/210

Buzz: Fugitive tycoon buys a Bugatti Veyron

ET’s weekly roundup of the wackiest whisperings and murmurs in corporate aisles& policy living-rooms: Of Bumper BonusesAfter disappointing evaluations last year, smiles are back this time around in this storied business radical, or so we made. Good financial results, runaway capital achievement and business turnarounds have represented lovely bonuses, salary hikes and advertisements. Everyone should be knocked, we usurped, till we started hearing rumblings that a few from a particular department were thought to have been spared “excessively”. Considering that several of them were rainmakers who were brought in with specific mandates, it seemed only right that they came paid like their external peers. But nobody is buying the argument, insisting that using different criteria to measure performance isn’t fair.Taken for a RideIn case you were feeling sorry for this once larger-than-life fugitive tycoon for losing an appeal just recently to gain further access to funds to cover his legal fees around the world, this might make you suffocate over your morning chocolate or recall the age-old precept: organizations move belly up but industrialists don’t. For all the rigours he has had to endure, the former badshah of bling and affairs really bought a Bugatti Veyron, the super car of the decade, as per British automobile magazine Top Gear. Seems a little extravagant considering the nine-figure price tag is more than the Rs 7.7 crore he recently sought from a magistrate to pay his monies. With a top speed of 431 kph, 1,001 horsepower and the ability to move from 0-60 in a rarely plausible 2.5 seconds, the one-time world’s fastest automobile has been an object of desire for A listers Cristiano Ronaldo, Jay Z, Ralph Lauren, Tom Cruise and Floyd Mayweather, but for a human whose lavish parties eventually did him in, this seems preferably OTT, even to the most lenient.Kissa Kursi KaHis super boss, among the most influential money overseers in the world, is known as much for his birthday blowouts as for his charitable donations to cases that compas from scholarships, the liberal arts and public libraries to culture and Catholic donations with a whole lot in between. We don’t know more if that had anything to do with the decision of his key lieutenant in India, too a super achiever in his own privilege, to cut a overweight cheque to alma mater IIT Bombay to create a female faculty chair, arguably the first of its style in the country. The chair to be referred after this co-country head, or should we say regional intelligence, since he just got a super promotion, will be for “outstanding women”, who can serve as role models for aspiring students, commemorating their contribution to academia. Bravo we say, this may be far more meaningful than all the buyouts that these kinfolks pursue.Fallen AngelBesides being a hard-handed boss, this chubby posting boy of the local unicorn society, is also becoming an ebullient bully is what a little bird tells us. Word has it he’s been trying to flex his muscles with another benefactor, nudging the latter to sell his startup to him. Both operate in the same space though their size and proportion are quite different, so it may meet business feel to synergise, but you would agree there is a way to woo someone. More so, if you are an angel investor in the same company that you want to end up buying. Quite understandably, the team at the target company rebuffed these preludes merely to be told if they don’t play ball, they will face results at their detonator counter, something that a fledgling team can ill afford. But much to everyone’s surprise, they stood their floor, telling Mr Hotshot they would gaily buy him out if he indeed became onward with his decision.Loose LippedReaders of this piece know that a soonicorn and a unicorn have been involved in a muckraking trademark tiff for over the last two years now. The respondents have won this latest round after the plaintiff’s injunction was dismissed by the courts recently and is set for a full blow ordeal. But far away from being elated, we hear one of its investors, a leading VC firm, is actually quite distressed. The verbal outburst of one of the founders in the middle of this ongoing controversy seems to have riled them up, especially since his liberate cheeks have been publicly specifying and shaming the rival, which has similarly influential supports. It’s increasingly becoming difficult to rein the person in and make every effort to tame him through executive decisions have had little effect. During ongoing overseas fundraising roadshows to bankroll a high-profile takeover, such gaffe can indeed become costly.Stressed AccountTwo ministerials quitting a PE firm in quick succession is not headlines, leave alone spicy. But if we tell you both were involved in the “tactical” bet that has get south, would you sit up and take note? Some would gibe and insist it was meant to be and the whole investment thesis was wrong in the first place, even if they are the honeymoon age between the two sides previous for a bit, including trips to the HQ. But hindsight is always 20:20 and once upon a time the same investee company was the adorable of world-wide investors. If the yak is to be reputed, then the stress of managing this one thorn in the portfolio proved to be too much to handle. Funnily enough, these two aren’t the first casualty from this high-profile deal--two others involved in the transaction from another belly bracket conglomerate likewise found themselves paying the cost as well. Hopefully, their next periods "il be easier" goes.

Read more: economictimes.indiatimes.com

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