Leisure, Lifestyle & Wellness
Pakistan team heads to Pathankot; may face protests
Pathankot : Pakistan's Joint Investigation Team (JIT) for the Pathankot air base attack headed to Pathankot town in north Punjab on Tuesday amid tight security in view of Punjab's opposition parties threatening to protest against the visit.
 
The JIT members, who arrived in New Delhi on Sunday and had day-long meetings with National Investigation Agency (NIA) officers, left for Amritsar on Tuesday morning en route to Pathankot.
 
Tight security arrangements have been made in and around the frontier IAF base in view of the visit and likely protests against the visiting Pakistani investigation team.
 
Punjab opposition parties, the Congress and Aam Aadmi Party (AAP), have said that they will hold protests near the AFS against the visit.
 
Authorities at Pathankot airbase said that the visiting Pakistan probe team will be taken only to specific and limited areas within the sprawling Air Force Station (AFS) complex.
 
The JIT members will be kept away from the AFS' technical area and shown only those areas where security forces engaged the Pakistani terrorists in the first week of January.
 
"We have, physically and visually, barricaded the airbase. Tent walls have been erected around the crime scene (shootout site) and nothing else will be visible to the JIT members. Their entry will also be through a special gate through the rear portion of the airbase," an IAF officer told IANS.
 
Punjab Police DIG (deputy inspector general) Kunwar Vijay Pratap Singh said that the Pakistan JIT will be taken by the NIA to the site of the gunbattle.
 
"The team will be provided access to the area of the encounter," Singh said.
 
Informed defence sources here said the team members could also be shown the bodies of the killed terrorists kept in a government mortuary.
 
NIA officers will accompany the JIT members.
 
The JIT will not get to interact with IAF or other defence and security officials and personnel involved in the 80-hour counter-operation by security forces against the terrorists who attacked the airbase in the early hours of January 2.
 
Defence Minister Manohar Parrikar said on Monday in Panaji (Goa) that the Pakistani team would not have access to the operational area of the airbase, but only the isolated "crime scene", which has been completely barricaded and fenced.
 
All the terrorists and seven security personnel were killed at the base.
 
The January attack on the IAF base was the second one by suspected Pakistani terrorists. A group of three Pakistani terrorists had attacked Dinanagar town in adjoining Gurdaspur district on July 27 last year, leaving seven people dead.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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FICCI passes resolution against wilful default
New Delhi : Industry body Federation of Indian Chambers of Commerce and Industry (FICCI) on Monday held cases of wilful default should be dealt with in a firm manner as its national executive committee passed a resolution against it.
 
"The rules laid down for 'wilful default' should be strictly followed," said FICCI president Harshavardhan Neotia in a statement, after passage if the resolution which calls for industry to join hands with banks for evolving workable solutions which are preventive in nature and remedial as well.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Do 'Original' Prices Really Even Exist?
Shopping for a spring wardrobe? Here's what you need to know about price tags
 
Unless you’re an 8-year-old boy who insisted on wearing shorts all winter, you may now be mulling a spring shopping spree. But some advertised discounts on warm weather wear might not be such an awesome deal.
 
Several major clothing stores including Macy’s and Kohl’s are accused of overstating savings by comparing sale prices to original or list prices that never actually existed. More than a dozen class-action lawsuits allege that retailers “artificially inflate” original prices so that they can trick consumers into believing they are getting a bigger discount than they actually are.
 
J.C. Penney has already agreed to pay $50 million to settle deceptive reference pricing allegations. The class-action lawsuit claimed that the department store giant advertised 40 and 50 percent off deals on blouses and purses using original prices that were not the prevailing retail price three months preceding the sale, as required by California law.
 
In 2014, four federal lawmakers urged the FTC to investigate deceptive reference pricing at outlet stores, arguing that certain retail prices to which outlet store prices are compared are “impossible to substantiate” because the items were especially made for the outlet store and never sold at retail. Several stores with outlet locations including Ann Taylor and Tommy Hilfiger are among the retailers now facing class actions.
 
“List price should really be labeled wish price because it’s the price manufacturers wish they could charge,” says Larry Compeau, a professor at Clarkson University who is an expert on pricing issues. “The list price has come to reflect no real information; it’s rendered meaningless.”
 
The reality is that consumers nowadays rarely purchase clothing at the original or list price, Compeau says. Often, he said, the item has never been offered at an “original” price.
 
But there are federal rules for retailers to follow along with state laws. FTC guidelines on price comparisons state that the original or former price must have been offered “on a regular basis for a reasonably substantial period of time” for the advertised discount price not to be deceptive:
 
If, on the other hand, the former price being advertised is not bona fide but fictitious — for example, where an artificial, inflated price was established for the purpose of enabling the subsequent offer of a large reduction — the “bargain” being advertised is a false one; the purchaser is not receiving the unusual value he expects. In such a case, the “reduced” price is, in reality, probably just the seller’s regular price.
 
Why we buy what we buy
 
Reference pricing, which is also referred to as bargain advertising or price anchoring, can make an expensive item appear inexpensive. The tactic increases how we perceive the value of the deal, Compeau says. That, in turn, makes us more willing to stop shopping and make a beeline for the register because we’re convinced we found the deal of the day.
 
So how can you know for sure that you’ve nabbed a bona fide bargain? Compeau says it’s difficult but that seasonal markdowns in which retailers are trying to unload old inventory to make room for new collections present the best chance that the discount can be counted on. Other than that, shop around and compare prices for the same item at different stores.
 
Find more of our coverage on pricing issues here
 

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