Life Exclusive
Romney’s Money

Money is the oxygen of every election campaign and in the end Mitt Romney is the only man with the moolah. All the others just ran out of oxygen

In the end it wasn’t as if Mitt Romney had won; it was just as if everyone else had lost. The fight for the Republican nomination had been long and bloody but thankfully for the Republicans it finally came to an end on 11th April—a little sooner than expected. The final serious challenger Rick Santorum who had promised to take it all the way to the Republican convention in Tampa, Florida, threw in the towel. He could see the odds lengthening. He could see the improbability of the nomination. He probably thought that stopping Romney from getting 1,411 delegates was highly unlikely and the chances of a brokered convention seemed remote. Money is the oxygen of every election campaign and in the end Mitt Romney is the only man with the moolah. All the others just ran out of oxygen. 

Mitt Romney had the money, hence he had the organization. Mitt Romney had the money, hence he had the advertising. Mitt Romney had the money so that every time he stumbled or fell he could pick himself up and dust himself off and move on. He had been reviled as a “Vulture Capitalist” by his opponents for the Republican nomination. That might have been somewhat unfair. In any event there is one thing that can be said about vulture capitalists and that is that they have deep pockets and the ability to draw other deep pockets towards them. 

There was speculation that he was worried about losing his home state of Pennsylvania and hence he had pulled out of the race—there was speculation that his young daughter Bela was unwell and hence he had pulled out. Santorum put it all to rest. He told the New York Times that he ran out of money. Simple as that. Romney just out ran his opponents. There were two non-serious candidates still in the race. There was Newt Gingrich then former speaker of the House of Representatives and there was Ron Paul, the libertarian representative from Texas. 

They had a Zilch chance of stopping Mitt Romney from getting the nomination. But there is an obvious adrenalin rush in campaigning. The hand-shaking, the attention and the limelight. It is something difficult to give up so Newt Gingrich and Ron Paul trudge on.

Romney always knew there would be an “another day other chance”. He survived a loss to Rick Santorum in Iowa. He lost to Newt Gingrich in South Carolina. He immediately recovered. His method was time-tested and inevitable. He unleashed a barrage of negative ads; sometimes he did not do it himself. Some super PAC (Political Action Committee) supporting him did it. And some of his opponents simply self-destructed. They briefly rose in the polls—sometimes took the lead and then like punctured balloons vanished from the scene. This happened with Michele Bachmann. This happened with Rick Perry. This happened with Herman Cain. They ran into the media spotlight, couldn’t stand the heat and ran out of oxygen. And some simply did not catch on and ran out of oxygen. This happened with John Huntsman. 

There were many debates and as they went on, the aspirants more and more took on Romney who seemed to be in the lead and attacked him for his moderation. Romney has been a Republican governor of Massachusetts, one of the most liberal East Coast states. He had to move to the right to burnish his credentials. He had to give up or denounce policies which he had believed in earlier. 

The Republican primary voters are far to the right of the general electorate and Romney had to move to the right to close the deal with the Republican primary electorate. President Obama’s signature achievement—his Healthcare Bill is quite similar to the Bill that Mitt Romney had in Massachusetts. Romney had to put distance between himself and the Massachusetts Bill by saying that it was alright for states but not alright for the Union. One of the controversial provisions of the Obama Healthcare Bill is what is known as the single mandate provision i.e. it is compulsory for everyone to buy insurance. This provision which makes for universal healthcare is similar to the Massachusetts Bill and is presently being challenged before the US Supreme Court. Romney had to put a distance between him and the single mandate. Santorum made a good point in the earlier half of his campaign—that Romney would not be able to take on Obama on the Healthcare Bill as he had done the same thing.

Romney’s money machine is going to make him a formidable candidate in the general election, which if it is close, may well turn on which of the two candidates can outspend the other.

(Harsh Desai has done his BA in Political Science from St Xavier’s College & Elphinstone College, Bombay and has done his Master’s in Law from Columbia University in the city of New York. He is a practicing advocate at the Bombay High Court.)

 

User

Life Exclusive
Team-building at Finetex

A cordial relationship with the staff by celebrating their festivals and giving them something special every day ensured that there was no absenteeism. The 22nd part of a series describing the unknown triumphs and travails of doing international business

Thanks to the very extra care that we took of our staff, we had no problems whatsoever in our work. After a brief holiday in Colombo, which enabled Piyasena Perera to be with his family, and still go through the process of selecting hundreds of new workers for the factory, he returned back to the flock. Thankfully, during the period of his absence I faced no major hiccups in production.

My next few days were spent in doing the co-ordination work with the Free Zone authorities so as to ensure expeditious processing of visa applications and actually getting the visas. These had to be notified to Haji Cader, and who, in turn had to alert the successful applicant. He/she would then submit the resignation and most of the time the companies would seek help in asking for a suitable replacement. Luckily, no local company in Sri Lanka stood in the way of their staff going abroad and in many ways even assisted them in getting their passports.

On direct orders that we had negotiated in the meanwhile, Zubair took the responsibility to ensure opening of Letters of Credit for raw materials. After all we were greenhorns in the textile industry and it was a good lapse of time before we realized in the mug’s game that we were pawns.  The buyer/his agent would nominate the fabric supplier for quantity and quality; likewise, we would be directed to place orders and open L/Cs for accessories on X, Y or Z, which had the materials for shipment! A certain percentage of the ordered value would be siphoned off to the buyer/agent. Likewise, we would also land up buying extra lengths of fabrics than actually required to complete the ordered quantity!

In the long run, we felt we were better off doing local contracts without having to invest money and taking risks for delays in supplies or for being ‘rejected’ for non procurement of ‘acceptable’ quality of fabric.

I think, by this time we had almost a score of manufacturers in the zone itself; the units outside the zone were multiplying; each of the Emirate was coming out with “Free Zones” and offering all kinds of services, copying the lead set up by the Jebel Ali Free Zone. If I were to hazard a wild guess, by the second year of the boom trade in the garment industry, perhaps, UAE would have issued visas for some 18,000 to 20.000 workers; a good 70% of them came from Sri Lanka.

Export from UAE to the USA was picking up at a phenomenal rate; other markets like the UK and Europe were not far behind. We also had tremendous marketing support from Hong Kong, which was the centre of activity. The other main centres of production were: India, Pakistan, China, Sri Lanka Thailand, Philippines and Bangladesh. And the competition was very, very severe.

This growth caused an unexpected bottleneck in terms of shipping space while the smaller and urgent lots were being air freighted every day. It was at this juncture, manufacturers in the Free Zone began to cultivate the fear, as to what would happen if a quota system was imposed by the USA, which was the main buyer. 

Initially, we had ad hoc meetings among ourselves; ultimately, an urgent meeting of all the manufacturers in the Jebel Ali Free Zone was called, in the office of CNA, by Jamna Dattani, its chairman. After a brief discussion, in order to form an effective group to take care of the problems of the industry, Jamna, the senior most, proposed that we form an association. The association was named as JAGTA to represent Jebel Ali Garments and Textiles Association.  Unanimously, Jamna was elected as its first chairman, and Fakhuruddin Amiji as the vice chairman. Proposed by Imran Khan, AK Ramdas of Finetex was elected as its secretary and spokesman.

Broadly, the factories in the Free Zone were owned and controlled by Indian or Pakistani nationals, who are even today the predominant community in the UAE, as they were at that time. It was much later we had a British company set up its plant, which had extensive interests in Sri Lanka; and a Thai unit was already operative. But, in this industry, it did not matter at all, and everyone's aim was to procure and execute the orders to the entire satisfaction of their clients.  

We did not realize how fast the time flies! We were heading for the Sri Lankan New Year in the middle of April. And, we began to think the best means of celebrating the event.

In the meantime, there were a couple of things that I must tell you about what we did at Finetex, in creating extraordinary cordial relations with our staff. During my trips to Colombo, when I had the opportunity to meet a cross section of the people, I found that, like it happens in our countries like India, apples were sold definitely outside the hospitals, and this was one of the most cherished fruits that were unaffordable for the common folks. I had ensured that every day at tea break in the afternoon, every member of the Finetex staff received something special: it could be an apple today; an orange tomorrow; bananas the next day; a piece of cake, or even a packet of Horlicks or Parle’s biscuits! There was no absenteeism; our boys and girls worked efficiently and maintained good healthy. It was rarely anyone fell sick or reported sick and stayed back in the camp, unless it was real and painful, and we ensured that medical attention was given without fail.

We declared a two-day holiday for celebrating the New Year; one of which was spent in celebrating the function in the factory premises, by skits, drama, dance, music and other merry making items. The next day was for sight-seeing and market visits, with choice of food, all on the house and with full wages! This was followed by yet another paid holiday for Buddha Poornima, which was wholeheartedly welcomed by the entire staff. There were a few members of the staff for whom I had arranged for special visits to the St Mary’s church earlier for their Christmas mass.

We at Finetex had the best staff in the entire Free Zone and they had the best treatment, as well. I would be immodest in saying that there was none to match us in the zone in any way.

(AK Ramdas has worked with the Engineering Export Promotion Council of the ministry of commerce and was associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts. From being the advisor to exporters, he took over the mantle of a trader, travelled far and wide, and switched over to setting up garment factories and then worked in the US. He can be contacted at [email protected].)

You may want to read more:

User

COMMENTS

Ratanlal Purohit

5 years ago

Ananth Ramdas Sir
We are who?
Mai Bap?
THEY ARE OUR TEENY WEANY CHILDREN.
THEY HAVE TO BE WEANED. PROTECTED. LOOKED AFTER.
AFTERALL THEY ARE NOT GROWN UP.
WHO ARE WE. THE SUPERIOR ONE. THE MASTER. TO TAKE ALL DECISIONS FOR THEM.
AND THINK WE HAVE DONE A GREAT JOB.
IS IT OKAY. NON INCLUSION OF THEM IN DECISION MAKING. NO PARTICIPATIVE MANAGEMENT. STILL IN FEUDAL Y MANAGEMENT. EVER HEARD OF TOTAL QUALITY MANAGEMENT. LEAVE ALONE BUSINESS EXCELLENCE MODEL. SMALL GROUP ACTIVITY QUALITY CIRCLE WORLD CLASS MANUFACTURING
OR FOR WORK PLACE MANAGEMENT BY RICARDO SEMLER THE MAVERICK.
BE HAPPY IN YOUR DREAM WORLD OF FAIRY TALES.
GOOGLE ALL KEY WORDS TO COME OUT OF EUPHORIA.

REPLY

Ratanlal Purohit

In Reply to Ratanlal Purohit 5 years ago

SORRY I FORGOT TO COMMENT ON THE TITLE OF YOUR ARTICLE.
TEAM WORKING.
SUGGEST JOINER OR RICK TO UNDERSTAND AND ADJUDGE.
A CIRCULAR NON HIERARCHIAL MANAGEMENT TOO.
HAPPY JORNEY
GOOD LUCK AS JURAN SAYS FOR PROJECT BY PROJECT IMPROVEMENT
PDCA OF DEMMING AND CONTINUOUS IMPROVEMENT KAIZEN.
MOST HUMBLY SUBMITTED SIR RAMDASJI IN RIGHT EARNEST.

Adarsh panel says land does not belong to Army

The two-member panel also held that the building was not reserved for war heroes and Kargil widows

MUMBAI: In a huge relief to Maharashtra government, the judicial commission of inquiry looking into the Adarsh housing scam has held that the land on which the controversial building stands belongs to the state and not the Army, reports PTI.

The two-member panel, which had submitted its interim report to the government last Friday, has also held that the building was not reserved for war heroes and Kargil widows.

The interim report was discussed by the Maharashtra cabinet on Tuesday, sources close to the development said, adding it is likely to be tabled in the legislature later in the day.

The commission headed by former Bombay high court judge JA Patil includes former state chief secretary P Subramanian.

The report, according to sources, has thrown light on the issues of ownership of the land on which the 31-storey high-rise stands in upscale Colaba, and if it was reserved for war heroes and Kargil conflict widows.

The allegations in the case are that the land was allotted by the state government to the Adarsh Society though it belonged to the defence ministry, and the building came up in violation of several civic and environmental norms.

The state government had approached the commission a few months ago seeking an interim report on the points of title and reservation.

The Maharashtra government had appointed the two-member panel to probe the Adarsh Society scam in January last year.

The panel has been tasked with probing all aspects of the scam, including ownership of the land and allotment, as well as alleged violations of rules in grant of various clearances to the building. The commission is also looking into violation of coastal zone regulations.

A number of top civil and Army officials and politicians, including former chief minister Ashok Chavan, are alleged to have facilitated clearances for the building and got flats in it as quid pro quo.

Nine of the 14 accused, including two senior IAS officers, have been arrested for their alleged involvement in the scam.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)