We Make Millionaires
July 3, 2012 Leave a comment
“We are not interested in becoming crorepatis but in making others crorepatis.”…….Read more here https://wealthymatters.com/2011/03/09/tata-style-philanthropy/
The Grace Groner Story
June 20, 2012 3 Comments
Grace Groner was born in the year 1909, in a small farming community, in Lake County-Illinois.She had a twin sister, Gladys. They were orphaned at age 12.The twins were then taken in by George Anderson, one of the prominent members of the community,who later adopted them.He paid for both of them to attend boarding school and later the nearby Lake Forest College. They were always considered “family” by the Anderson family.
Grace graduated in 1931.At the time, it meant a great deal more than it does today to be a lady and a college graduate.After graduation Grace took up a job nearby as a secretary,an accomplishment for working women of her generation.She stayed on at Abbott Laboratories for 43 years,till her retirement.For many years Grace lived with Ann Findlay, an elderly relative of George Anderson, in a small apartment in the building that housed the Lake Forest movie theater, which was owned by the Anderson family. Lake Forest,a town just north of Chicago, is one of its richest suburbs. Read more of this post
It’s Impossible Not To Be A Millionaire
June 4, 2012 7 Comments
In this post I will tell you the strange story of Curt Degerman.His story will show you how it is impossible not to become a millionaire.
Curt lived in the Swedish coastal town of Skellefteå.He was born in 1948.As a child he was very clever and had a bright future but dropped out of school in his late teens after a personal crisis.He never completed school, married, nor had a family of his own.He chose to live an alternative way of life and largely kept to himself.
Curt Degerman was called “Burk-Curt” (‘Tin-Can Curt’) by the residents of Skellefteå.For forty years Curt was a solitary figure seen cycling around the town in his blue anorak and ragged trousers.He spent his days touring the recycling bins of the town on his old bicycle and rummaging through them, collecting bottles and cans .Curt transported the bottles and cans he found by stuffing them into bags tied between the handlebars of his bicycle.He sold the tins and bottles to shopkeepers and a recycling plant. Read more of this post
Recurring Deposits
April 24, 2011 3 Comments
A Recurring Deposit(RD) is a type of term deposit account opened by a person/persons with a bank or a post office wherein the investor or investors deposit a fixed amount of money every month for a fixed tenure . This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum at the end of the tenure. The interest on RDs normally offered by banks is one percent below Fixed Deposit(FD) rates compounded quarterly.Often there is nothing extra by way of interest offered for senior citizens.Otherwise the rules for operating a RD account are the same as that for a FD account.The PO offers a fixed 7.5% interest compounded quarterly for a 5 year term.
RDs are great for people to develop the savings habit.It is especially useful to teach kids to save especially the Post Office Recurring Deposit (PORD) which has a minimum deposit of 10 rupees per month.Often banks package RDs as schemes to become or to make your child a lakhpati,millionaire etc or as schemes to build the down-payment on a house or vehicle. Read more of this post
Tata Style Philanthropy
March 9, 2011 4 Comments
Here is something I found while surfing today.I found it here http://trak.in/tags/business/2007/06/26/this-is-what-lakshmi-mittal-has-to-say-about-his-competitor/ .The blogger believes the words originate from LN Mittal.In which case it would be high praise indeed for the Tatas from a competitor.Even if the note is authored by someone else it doesn’t detract from the fact that Tata Style Philanthropy is worthy of respect and well worth emulating.The picture above shows Jamshedpur.
“Most of us know Lakshmi Mittal to be the richest person in United Kingdom. We also know him as a Steel Industry Baron who took over Arcelor against all odds. However, more than money and business, he is a great human being and never fails to give credit where it is due, even if it means his own biggest rival.
Here is a note written by Lakshmi Mittal after his recent visit to TISCO: (It is long, but well worth the read)
‘I visited Jamshedpur over the weekend to see for myself an India that is fast disappearing despite all the wolf-cries of people like Narayanamurthy (mentor of Infosys) and his ilk. It is one thing to talk and quite another to do and I am delighted to tell you that Ratan Tata has kept alive the legacy of perhaps India’s finest industrialist J.N. Tata. Something that some people doubted when Ratan took over the House of the Tata’s but in hindsight, the best thing to have happened to the Tata’s is unquestionably Ratan.I was amazed to see the extent of corporate philanthropy and this is no exaggeration.For the breed that talks about corporate social responsibility and talks about the role of corporate India, a visit to Jamshedpur is a must. Go there and see the amount of money they pump into keeping the town going; see the smiling faces of workers in a region known for industrial unrest; see the standard of living in a city that is almost isolated from the mess in the rest of the country. Read more of this post
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