Monday, April 23, 2007

Clarence Thomas

A new biography of Justice Clarence Thomas written by Kevin Merida and Michael Fletcher ("Supreme Discomfort") holds some lessons for ongoing debate in India regarding reservation for OBC without excluding the Creamy Layer.Clarence Thomas is against affirmative action because,in his view, only the lighter skinned blacks have benefitted crowding out the darker ones.Isn't this exactly what is happening in India?


Is a listed company entitled to claim that its performance last year was "better than expected" if the company is not in the habit of giving guidance?

This oddity occurred in the case of Biocon when its COO made a press statement on company's 2006-07 results.When requested for clarification,the company has said,"The COO's statement 'better than expected' refers to indicate (sic) that we have done better than our internal budgeted numbers as well as the average expectation of the Analysts,based on the analyses provided by Citigate,Mumbai,our IR Service Provider".