Reader looks ahead

Published 11:01 am Friday, May 16, 2014

Sony posted a 1.3 billion loss this time. Its depressing for such a strong and popular brand, next only to Apple in the laptop Vaio series, to go under. Being the world leader in electronics this does sound shocking. As a silver lining and this is noticeable- the CEO and senior executives returned their bonuses and cut their salary in half. This expression of corporate responsibility is admirable and needs to be adopted as a trend in senior management. It is often the top decision makers who make or break a business. In a western scenario not too far back top executives of Lehmann Bros and AIG took record bonuses on departure while the company looked for government bailout and the poor taxpayer foot the bill. There are lessons to be learned from this episode and one needs to take a hard look at the eastern business model which is progressing so fast and taking over the world economy. It is a fact, though debatable that in near future China will be the biggest economy. I’m sure the U.S. would not like lose the prime spot.

Michel Thakur


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