“The People’s Car”: The $2500 Tata Nano

by golbguru on January 10, 2008

I thought this was pretty interesting.

Tata Motors, India’s largest automobile company, unveiled the world’s cheapest car today - according to a press release on the company’s website. This brand new two-cylinder vehicle is priced at INR (Indian Rupee) 100,000 equivalent to $2549 US dollars.

tata nano exterior

tata nano interior

tata nano interior

Image source: www.tatapeoplescar.com

Honestly, when I heard about this concept more than an year ago, I thought the project will sort of fizzle out eventually because of cost inflation and gross underestimation of technological challenges. Now, I stand corrected.

By the way, on a side note, Tata Motors is also in talks with Ford to buy Jaguar and Land Rover businesses.

If you think oil prices are high now, wait till this $2549 car becomes popular. It should be noted that “popular” has a totally different meaning when we are talking about a country with 1 billion people. But it could have been worse …. we are fortunate that China isn’t making any $1000 cars …. yet.

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Coming Back To Life

by golbguru on January 8, 2008

Lost in thought and lost in time
While the seeds of life and the seeds of change were planted
Outside the rain fell dark and slow
While I pondered on this dangerous but irresistible pastime
I took a heavenly ride through our silence
I knew the moment had arrived
For killing the past and coming back to life

I took a heavenly ride through our silence
I knew the waiting had begun
And headed straight..into the shining sun

- Coming Back to Life - Pink Floyd (The Division Bell) (video)

I don’t know why, but I feel sort of connected with that song about now.

After 6.5 years of considerable efforts (not always successful) and some really bold and unconventional steps (and super-anxious waits) in the last few months, I finally have a job/career I have been dreaming about for a long time. I feel rejuvenated. Alive. Back to life.

However, this dream comes at the cost of another dream: my PhD degree. It was extremely painful to let go of several hundred hours of research and painstaking work, but ultimately, I had to be more practical than theoretical.

I don’t know how long this goodness is going to last, but I am going to enjoy it as long as it does.

With major distractions out of the way now, the inspiration to blog is slowly coming back to life too. :)

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Bought A Brand New Honda Civic

by golbguru on December 23, 2007

There are so many things happening in our lives right now that I don’t really have the time (or the patience) to elaborate on all of them.  However, I just wanted to post a few words to say that I am still alive!

Here is the latest development. After a few days of research into various compact cars, we finally went ahead and bought a 2008 Honda Civic for ourselves.

2008 honda civic

Long-time readers of this blog will remember that we purchased a 2005 Toyota Corolla less than 6 months ago.

Obviously, a lot has happened since then to warrant the purchase of the new Honda.

Astute readers will quickly draw conclusions based on this, this, and this. :)

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Ah Ha! The Value Of An Asset Is Better Appreciated When You Lose It

by golbguru on December 10, 2007

This is rather obvious, but not much appreciated in day-to-day life, so I thought of giving it a shout-out.

Over the last couple of months, I have been in the process of eagerly seeking a change in my current graduate student lifestyle. A part of this change, would come in the form of a real-life job in an industry. Those who have been following this blog since the beginning are probably aware of the fact that I have been studying towards my PhD - and wasn’t all too happy about the way things have been going for a long time. Finally, sometime in the last couple of months, I bought an artificial backbone from Dogbert at an enormous price ( ;) ) and that has given me the necessary courage to create my own destiny instead of relying on some general-purpose ignorant idiots. Looking for a job at this juncture is probably going to cost me my PhD degree, but I think I can live in peace even without those three alphabets.

Anyways, after I conveyed my thoughts to my superiors, it has been really interesting to observe a change in their attitude towards me. My time and knowledge of certain things (which were utterly disregarded till this point) have now suddenly become top priorities for some folks. People are now really listening to what I want to say and I am hearing a few good words about the work that I have done so far. [Either that, or it's just like people are obligated to say good things about you when you are gone (cough*eulogy*cough). :)]. All in all, it’s almost exactly opposite of what has been going on so far and it sure feels good - although it’s too late for any amends at this point.

It’s probably human nature to take certain things for granted - till those certain things become hard to come by. This happens to the best of us when it comes to money, character, relationships, and other important assets. Unfortunately, the value of such assets is almost always appreciated only near the breaking point - when you are about to lose an asset, or have just lost it and when it’s too late to regret.

In this spirit, let’s take a moment to recognize and appreciate our hidden assets (whatever they may be) - let’s do it right now … before it’s too late.

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Money Links For 12-10-07

by golbguru on December 10, 2007

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There Is No Such Thing As Bad Debt

by golbguru on December 6, 2007

Let’s sing a slightly different tune with this post - instead of the usual debt bashing. When I say “bad” debt, I am referring to the “good debt, bad debt” terminology that’s gathering some attention in financial circles - I am not referring to it in a classic technical definition point of view as “the portion of receivables that can no longer be collected“.

To understand the significance of debt in general, it’s instructive to imagine a society in which the facility to borrow money does not exist at all. Think in terms of education, industrial development, housing “requirements”, entrepreneurial endeavors, emergencies, and other aspects of our life that involve borrowing (and lending) money in some form or other.

While you are at it, try answering these questions: Would you be willing to wait till you are 35 years of age for higher education (think in terms of advanced graduate, law, medical degrees, etc.) - at which time you could probably pay for your entire education with cash in hand? Would you be willing to wait till you are 60 before you buy a home with your savings? How would you even start setting up a promising company/small business unit (say for example, a manufacturing unit) that would probably require a couple of million dollars of initial funding?

The common crucial denominator in the above issues is time - with respect to the psychological and physical (monetary) value associated with it. There are certain things in life that need to happen at the right time - whether you have the financial resources available at that time or not. In light of this, debt should be viewed not just as financial leverage - but also as leverage against time and as such, it has an enormous value when applied correctly.

In layman terms, the correct application of debt requires understanding the concept as timely financial help borrowed in the anticipation of future earnings. Most of the times, the part that says “anticipation of future earnings” is ignored or undermined or totally miscalculated and that’s where problems start appearing. Some people probably tend forget that any borrowed stuff needs to be returned in a timely manner and then, all of a sudden, money borrowed for good purposes becomes “bad debt”.

I think it’s naive to only bring up negative connotations associated with credit card business, payday loans, and subprime mortgages when talking about debt and painting the whole concept of borrowing money with a broad “debt is slavery” brush. Debt is slavery only when we use it mindlessly.

In summary, there is no such thing as “bad” debt - there is just bad implementation, unreasonable temptation, and occasional miscalculation. :) Like most financial issues, debt is simply a question of affordability and feasibility - there is absolutely nothing profoundly bad about it. Just my two cents.

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Around The Financial Blogosphere

by golbguru on December 3, 2007

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Lessons From My Job Hunting Expedition

by golbguru on November 30, 2007

A couple of weeks ago, I described a particularly interesting interview that I faced during my ongoing job hunt. Throughout the entire job search process, I had several other interesting learning experiences and thought it may be appropriate to condense some of them in this blog post.

Below is a compilation of some salient points that resulted either from my personal experience or from discussions with friends, peers, interviewers, and current and former bosses. Although, this is a fairly long post, it is certainly not intended to be any kind of a “comprehensive guide” for job search - so feel free to voice your opinions (positive or negative) on the subject.

1. Keywords in your resume are important: This was a disappointment to me, but this is what I have observed (perhaps people in different industries have different ways of doing things) - your resume is essentially worthless without some keywords relating to the position you are applying for. This is especially true if you are posting your resume through a mass online resume posting service (like Monster.com, CareerBuilder.com, or through company websites).

Keyword search is the first filter that many employers will use - I personally don’t like it, but that’s what makes it practical for employers to sift through thousands of resumes. The only time you could probably get away without keywords is when you communicate personally with someone higher up in the hiring ladder - because of which you will bypass the initial filtering process. However, keep in mind that once you pass through the initial filtering process, keywords don’t hold too much importance. So, pay attention to keywords but don’t get too hung up on them.

Usually, the title of the position your are applying for and the corresponding job description provide enough clues as to which keywords you should try to include in your resume.

2. It’s not just about how brilliant you are, it’s also about how well you communicate: Communication issues can be real deal breakers. I personally know at least two extraordinarily brilliant persons who didn’t make it to even a single job in the industry because of communication issues (of course, it is implied that their jobs required communication between employees - I understand that this may not be really necessary for certain jobs).

Many employers place a lot of importance on good verbal and written communication. In my case, at least two companies asked for a few writing samples before considering me for on-site interviews - and later, made it sufficiently clear that they need this initial writing filter because, in the past, they had terrible experiences with people who couldn’t even compose simple emails properly and someone had to communicate with the customers on their behalf.

Unfortunately, communication problems don’t have instant remedies (unlike keyword problems) and are hard to correct; you really need some dedicated efforts very early on.

3. You don’t need $500 suits and jackets to make an impression: Seriously, I don’t know who has the time to look at the richness of your suit fabric or the brand of your leather shoes during an interview - unless you are interviewing for Martha Stewart or something. Dress decently and neatly, shave, and comb - that’s about it.

May be I am too insensitive or something, but from a distance of about 2~3 feet, I absolutely can’t figure out any difference between a $500 blazer and a $99 blazer - I have quite literally tried this experiment several times in our town mall.

Formal clothing is supposed to invoke a sense of professionalism and to boost your confidence (I don’t completely get this, but that’s what everyone says). I don’t see why expensive clothes would make it easier in achieving those objectives.

4. It’s not just about what you know, it’s also about who you know: I am not sure what percentage of resumes are rejected in the first cut, but I have a feeling that most resumes do not make it through. It always helps if you know someone in the hiring organization who can take your resume directly to the next level by bypassing the initial cull.

Also, in some organizations, open positions are first circulated among the employees before they are made public - if an employee recommends your resume at this stage, you will have a much higher chance of getting noticed. Of course, after the initial boost, the rest depends on how well you handle the hiring process.

5. Timing is very important: This is something I am learning the hard way. The way things are going with my job hunting process, I think I missed the “prime time” by a couple of months. Most industries have a particular “season” in which the bulk of the hiring takes place. Try to find that sweet spot well in advance and plan accordingly. Bigger organizations usually have a lot of time lag between the time you submit your resume and the time they actually read it and act on it.

6. Luck plays an important role: With this, I am just acknowledging the fact that there is a strong luck factor in determining whether you get a certain job or not. By making some wise choices you may be able to influence this factor a little bit, but you certainly cannot eliminate it completely. As such, a successful job hunt deserves a little humility (especially when you talk about it to your friends/peers who may not have been equally successful).

7. Don’t burn your bridges behind you: The most obvious “duh” suggestion here is to not leave your current job unless you get a written confirmation about your new job - whenever possible. Word of mouth is not a confirmation. Also, let your job search anxiety be your own problem - if you are not sure about leaving your current job, don’t start harping on your efforts to find a new job; uncertainty leads to anxiety which in turn leads to panic. In short, make sure that you are in a position to continue with your current job peacefully in case your job hunt ends unsuccessfully.

8. Keep smiling and be positive: This advice comes from my advisor. He probably realized that I am a little bit on the cynical side and sometimes can’t resist the temptation of a casual sarcastic remark. :) Negative attitude doesn’t help. People like happy people. People like positive people. Keep your sarcasm restricted to your blogs and comments on blogs (note to self).

9. Maintain good relations with your potential references: This is especially important for students (strained relations between students and their academic advisors are not uncommon). References are taken seriously in this country and all your good work can turn out to be useless if you can’t get your professors to say a few good words about you.

If you are not sure whether your boss/professor will strongly recommend you for a job, don’t give his/her name as a reference. If you don’t get along too well with your boss, try to cultivate good professional relations with other people in your department so that you can forward their names as references if needed.

10. Improvise: Be prepared to improvise on what you want to say/do during the interview, depending on how the interviewer is reacting to what you are saying/doing. It helps to watch your interviewers closely - it’s not too difficult to see that you are boring them to sleep; when that happens, you need to bring your boring activity/story to an end and switch to something more interesting. On the other hand, if you sense that your interviewers are showing interest in a certain topic, try to feed them more of it and convert it into a selling opportunity.

If you are more of a planning type of person, instead of relying on your improvisation skills, have a plan B ready (or maybe even plan C and plan D).

11. Other things that can cause embarrassment: A few of my on-site interviews culminated in the companies asking for background information (and for my permission to pull up my background information from third-party sources). To my chagrin, I had to mention something unexpected over and over again - a speeding ticket! Yes, a speeding ticket is considered a criminal conviction (albeit a minor one) and you may probably need to present some explanation if you have a whole bunch of them. I wish I had this wisdom before I got the ticket.

I don’t think people can deny you a job based on your speeding tickets (or may be they could, I don’t really know), but it sure is embarrassing to exhibit your lack of driving discipline to your potential employers.

Apart from the general discussion above, here are some pretty useful tips specific to the interviewing process; be sure to take a look.

~$$~

Another observation, that didn’t find a place in the above list. It’s about interviewers who start interviews with this: “So, tell me about yourself“. More often that not, in my case, it has turned out to be a sign that the interviewer has not prepared well for the interview. It sounds to me like a filler when you don’t have any intelligent questions to ask. Observe your interviewers closely after they throw that “tell me about yourself” at you … in all likelihood, while you are trying to construct a history of your life for them, they are probably reading your resume for the first time. :)

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New Orleans - The Big Easy Still Rocks

by golbguru on November 27, 2007

We spent our Thanksgiving weekend in New Orleans and did what people are supposed to do in New Orleans - eat jambalaya, eat beignets, travel in trams streetcars (see Lauren’s comment below), walk on Bourbon Street, watch alligators, and just take it easy. :)

There were a few interesting episodes regarding our stay - especially related to our “five star” hotel, but I will write about that in a couple of days. For now, here are a few snaps to capture a part of the awesome spirit of New Orleans. It’s too bad you can’t hear the jazz music playing in the background through the photographs.

By the way, this was our second visit to the city; the first one being just a couple of months before Hurricane Katrina. In spite of all the pain and suffering that New Orleans experienced after the hurricane, it was nice to see that the city still rocks!

  • Let’s start with an interesting FEMA t-shirt. :)

new orleans fema tshirt

  • Parking rates: Compare these to parking rates in New York City - hourly rates in NYC seem outrageous, but overnight rates are almost comparable. By the way, “valet parking” is one of the most ridiculous things I have ever seen (more about it later). In this photograph, the “overnight” rate seems to have been inflated unnecessarily to make the valet parking option appear more attractive (think in terms of tips for valets). :)

parking rates

  • Typical snack: Beignet (pronounced as “bin-ye”) and coffee make an awesome breakfast - or a general snack at any time of the day. The one place you shouldn’t miss in New Orleans is Cafe Du Monde; this particularly untidy cafe (consisting of tables, chairs, and waiting staff - all covered with powdered sugar) serves the most popular beignets in the city.

beignets and coffee in New Orleans

  • When in New Orleans, think sea food. It’s all about sea food - even when it comes to candy. :)

new orleans food

  • Pralines: This, by far, is the most expensive confectionery you can buy in New Orleans. $17.95 will get you just about 10-12 pieces - a casual eater can finish that in less than a day.

New Orleans pralines

  • And then there is beer. A whole lot of it, available cheap and served in a variety of mugs/glasses of various shapes and sizes. To keep this beer-drinking crowd in control, you will generally see swarms of horseback riding policemen keeping an eye on the busy streets throughout the night.

New Orleans beer

  • Here is some stuff you can expect to see only on Bourbon Street. Obviously, that’s the only thing I can publish here … the rest of it is.. well, you got to see it yourself. ;)

A flashy car on Bourbon Street

  • If you are romantically inclined, there is this dinner and jazz cruise on the Mississippi river. It’s worth the money ($58 per person) on nice cool days - if you want to try something different than the usual stuff.

dinner jazz cruise in New Orleans

  • Or you could spend time traveling around the city in tram cars. This is the most efficient and traditional way of getting around in New Orleans - after walking. A three-day unlimited travel pass in these trams costs $12 and it effectively solves all the potential parking problems. The photograph below shows trams on Canal Street.

trams on canal street

  • Or you could hide yourself behind a mask and do unmentionable things on Bourbon Street. :)

new orleans masks

  • One thing that I didn’t quite understand is people’s attraction towards the “French Market”. It seemed like any other market to me … selling overpriced and commonly available stuff. You could walk a few blocks away from the market and buy the same stuff for a much lower price tag - and yet you will see a lot of people buying a lot of stuff from the market. Anyways, if you miss the French Market, here is a photograph for you.

New Orleans French Market

  • A trip to New Orleans is incomplete without visiting some swamps. It’s fun to touch and hold alligators (small ones), and generally these alligator swamp tours are not too expensive. The way our tour guide was treating the alligators, they almost seemed “domesticated” - and he was also feeding them marshmallows, which the alligators seemed to particularly like. Below is a photograph of a relatively small alligator jumping out of the water to grab a marshmallow on a stick.

alligator in New Orleans swamp

  • Now, here is another FEMA t-shirt before you go. :)

new orleans FEMA tshirt

Au revoir! :)

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The Sunday Review #47

by golbguru on November 25, 2007

I hate to say, but for as money, I think like a man. I’m always finding ways to make money, invest money and grow money!!!

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