THE FUTURE IS GOOD....

GREAT- STEVE JOBS

On Thursday 6 October 2011, 7:51 AM

REUTERS - U.S. President Barack Obama joined an outpouring of tributes to Steve Jobs , calling the Apple co-founder a visionary and great American innovator.

"Steve was among the greatest of American innovators - brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it," Obama said of Jobs, who died on Wednesday.

The U.S. President was joined by political, technology, entertainment and business leaders around the world in paying tribute to Jobs. A selection:

BILL GATES, MICROSOFT CO-FOUNDER AND CHAIRMAN

"Steve and I first met nearly 30 years ago, and have been colleagues, competitors and friends over the course of more than half our lives. The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come. For those of us lucky enough to get to work with him, it's been an insanely great honor."

MARK ZUCKERBERG, FACEBOOK FOUNDER AND CEO, ON FACEBOOK

"Steve, thank you for being a mentor and a friend. Thanks for showing that what you build can change the world. I will miss you.

BOB IGER, CEO OF WALT DISNEY CO

" Steve Jobs was a great friend as well as a trusted advisor. His legacy will extend far beyond the products he created or the businesses he built. It will be the millions of people he inspired, the lives he changed, and the culture he defined. Steve was such an 'original,' with a thoroughly creative, imaginative mind that defined an era. Despite all he accomplished, it feels like he was just getting started."

MITT ROMNEY, REPUBLICAN PRESIDENTIAL HOPEFUL, ON TWITTER

" Steve Jobs is an inspiration to American entrepreneurs. He will be missed."

ARNOLD SCHWARZENEGGER, FORMER CALIFORNIA GOVERNOR, ON TWITTER

"Steve lived the California Dream every day of his life and he changed the world and inspired all of us."

MARK CUBAN, ENTREPRENEUR, ON TWITTER

"The PC era is officially over. #RIP #STEVEJOBS

INVESTOR MARC ANDREESSEN

"Steve was the best of the best. Like Mozart and Picasso, he may never be equalled."

PAUL ALLEN, CO-FOUNDER OF MICROSOFT

"We've lost a unique tech pioneer and auteur who knew how to make amazingly great products. Steve fought a long battle against tough odds in a very brave way. He kept doing amazing things in the face of all that adversity. As someone who has had his own medical challenges, I couldn't help but be encouraged by how he persevered."

MICHAEL DELL, CEO OF DELL INC

"Today the world lost a visionary leader, the technology industry lost an iconic legend and I lost a friend and fellow

founder. The legacy of Steve Jobs will be remembered for generations to come."

LARRY PAGE, CEO OF GOOGLE, ON GOOGLE+

"He was a great man with incredible achievements and amazing brilliance. He always seemed to be able to say in very few words what you actually should have been thinking before you thought it. His focus on the user experience above all else has always been an inspiration to me."

STEVE CASE, FOUNDER OF AOL, ON TWITTER

"I feel honored to have known Steve Jobs . He was the most innovative entrepreneur of our generation. His legacy will live on for the ages."

JEFF BEWKES, CEO OF TIME WARNER

"The world is a better place because of Steve, and the stories our company tells have been made richer by the products he created. He was a dynamic and fearless competitor, collaborator, and friend. In a society that has seen incredible technological innovation during our lifetimes, Steve may be the one true icon whose legacy will be remembered for a thousand years."

DICK COSTOLO, CEO OF TWITTER, ON TWITTER

Tributes pour in for Steve Jobs , dead at 56

" Once in a rare while, somebody comes along who doesn't just raise the bar, they create an entirely new standard of measurement. #RIPSteveJobs"

ARTHUR SULZBERGER, CHAIRMAN OF THE NEW YORK TIMES CO

" Steve Jobs was a visionary and a wonderful friend of The New York Times. He pushed the boundaries of how all providers of news and information interact with our users. I am among the many who deeply regret his passing."

JOHN RICCITIELLO, CEO OF ELECTRONIC ARTS

"Steve was one of a kind. For many of us working in technology and entertainment, Steve was a new kind of hero that lead with big, bold moves and would not settle for less than perfection. He is the best role model for a leader that aspires to be great."

SPIKE LEE, PRODUCER/DIRECTOR/ACTOR, ON TWITTER

"VISIONARIES are always called CRAZY in the beginning. A VISIONARY sees things that everybody else says is IMPOSSIBLE, sees a World that People can't invision (sic)-MAC, IPOD, IPAD, IPHONE, ITUNES and PIXAR. I have nothing but Love for Mr. Jobs and Apple, they have always given me and my films L-O-V-E. Peace and Blessings to his family”. “Thanks Yahooo!"

Jobs "May Never Be Equalled"

On Thursday 6 October 2011, 10:30 AM

Passionate, prickly, and deemed irreplaceable by many Apple fans and investors, Steve Jobs made a life defying conventions and expectations.

And despite years of poor health, his death on Wednesday at the age of 56 prompted a global gasp as many people remembered how much he had done to transform the worlds of computing, music and mobile phones, changing the way people communicate and access information and entertainment.

"The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come," said Microsoft co-founder and long-time rival Bill Gates.

"For those of us lucky enough to get to work with him, it's been an insanely great honor."

The founder of Apple Inc died on Wednesday in Palo Alto, surrounded by his family. The circumstances of his passing were unclear, but Jobs has had a long battle with cancer and other health issues.

Jobs' family thanked many for their prayers during the last year of Steve's illness.

A college dropout, Jobs floated through India in search of spiritual guidance prior to founding Apple - a name he suggested to his friend and co-founder Steve Wozniak after a visit to a commune in Oregon he referred to as an "apple orchard."

With his passion for minimalist design and marketing genius, Jobs changed the course of personal computing during two stints at Apple and then brought a revolution to the mobile market.

The iconic iPod, the iPhone - dubbed the "Jesus phone" for its quasi-religious following - and the iPad are the creation of a man who was known for his near-obsessive control of the product development process.

"Most mere mortals cannot understand a person like Steve Jobs," said bestselling author and venture capitalist Guy Kawasaki, a former Apple employee, in a recent interview. He considers Jobs "the greatest CEO in the history of man", adding that he just had "a different operating system."

Charismatic, visionary, ruthless, perfectionist, dictator - these are some of the words that people have used to describe Jobs, who may have been the biggest dreamer the technology world has ever known, but also was a hard-edged businessman and negotiator through and through.

"Steve was the best of the best. Like Mozart and Picasso, he may never be equalled," said Marc Andreessen, venture capitalist and co-founder of Netscape Communications.

Microsoft's Gates had called Jobs the most inspiring person in the tech industry and President Barack Obama held him up as the embodiment of the American Dream.

It's hard to imagine a bigger success story than Steve Jobs, but rejection, failure and bad fate were part and parcel of who he was. Jobs was given away at birth, driven out of Apple in the mid-80s and struck with cancer when he finally had regained the top of the mountain.

He resigned as CEO of Apple Inc on August 24 - saying he could no longer fulfill the duties - and briefly served as chairman before his death.

Jobs grew up with an adopted family in Silicon Valley, which was turning from orchards to homes for workers at Lockheed and other defense and technology companies.

Electronics friend Bill Fernandez introduced him to boy engineer Wozniak, and the two Steves began a friendship that eventually bred Apple Computer.

"Woz is a brilliant engineer, but he is not really an entrepreneur, and that's where Jobs came in," recently remembered Fernandez, who was the first employee at Apple.

Wozniak earlier this year said that his goal was only to design hardware and he had no interest in running Apple.

"Steve Jobs' role was defined -- you've got to learn to be an executive in every division of the company so you can be the world's most important person some day. That was his goal," joked Wozniak, who is still listed as an employee, even though he has not worked at Apple for years.

Awful-Tasting Medicine
Jobs created Apple twice - once when he founded it and the second time after a return credited with saving the company, which now vies with Exxon Mobil as the most valuable publicly traded corporation in the United States.

Every day to him was "a new adventure in the company," Jay Elliot, a former senior vice president at Apple who worked very closely with Jobs in the eighties, said earlier this year, adding that he was "almost like a child" when it came to his inquisitiveness.

He was highly intolerant of company politics and bureaucracy, Elliot noted.

But the inspiring Jobs came with a lot of hard edges, oftentimes alienating colleagues and early investors with his my-way-or-the-highway dictums and plans that were generally ahead of their time.

Elliot was a witness to the acrimony between Jobs and former Apple Chief Executive John Sculley who often clashed on ideas, products and the direction of the company.

The dispute came to a head at Apple's first major sales meeting in Hawaii in 1985 where the two "just blew up against each other," Elliot said.

Jobs left soon after, saying he was fired.

"It was awful-tasting medicine, but I guess the patient needed it. Sometimes life's gonna hit you in the head with a brick. Don't lose faith," Jobs told a Stanford graduating class in 2005.

He returned to Apple about a decade after he left, working as a consultant. Soon he was running it, in what has been called Jobs' second act.

Jobs reinvented the technology world four or five times, first with the Apple II, a beautiful personal computer in the 1970s; then in the 1980s with the Macintosh, driven by a mouse and presenting a clean screen that made computing inviting; the ubiquitous iPod debuted in 2001, the iPhone in 2007 and in 2010 the iPad, which a year after it was introduced outsold the Mac.

Thanks…(Reuters)

Milestones in a tech legend's journey

Arun Kumar, On Thursday 6 October 2011, 12:00 PM

Washington, Oct 6 (IANS) Apple's visionary co-founder Steve Jobs, who died after a long battle with cancer Wednesday, is credited with turning the once loss making company into one of the world's largest tech giants. Here are the milestones:

1955: Stephen Paul Jobs born Feb 24.

1972: Jobs enrols in Reed College in Portland, Oregon, but drops out after a semester.

1974: Works for video game maker Atari and attends meetings of the Homebrew Computer Club with Steve Wozniak, a high school friend.

1976: Apple Computer is formed on April Fools' Day, shortly after Wozniak and Jobs create a new computer circuit board in a Silicon Valley garage. The Apple I later goes on sale for $666.66.

1977: Apple is incorporated by its founders and a group of venture capitalists. It unveils Apple II, the first PC to generate colour graphics.

1980: Apple goes public, raising $110 million in one of the biggest IPOs.

1983: Apple starts selling the 'Lisa', a desktop computer for businesses with a graphical user interface.

1984: Apple debuts the Macintosh personal computer.

1985: Jobs and CEO John Sculley clash, leading to Jobs' resignation. Wozniak also resigns.

1986: Jobs founds Next, a company making high-end machines for universities. He buys Pixar from Star Wars creator George Lucas for $10 million.

1991: Apple and IBM announce an alliance to develop new PC microprocessors and software.

1994: Apple introduces Power Macintosh based on the PowerPC chip it developed with IBM and Motorola. Apple licenses its operating software, allowing others to clone the Mac.

1995: The first Mac clones go on sale. Microsoft releases Windows 95. Pixar's Toy Story, the first commercial computer-animated feature, hits theatres.

1996: Apple buys Next for $430 million.

1997: Jobs returns to Apple after the company records losses of more than $1.8 billion. CEO Gil Amelio is pushed out. Jobs ends Mac clones.

1998: Apple returns to profitability and unveils the iMac desktop computer.

2000: Jobs is named CEO of Apple.

2001: The first iPod goes on sale, as do computers with OS X, the modern Mac operating system based on Next software.

2003: Apple launches the iTunes music store with 200,000 songs at 99c each. Users can also buy and download music, audiobooks, movies and TV shows online.

2004: Jobs undergoes surgery for a rare but curable form of pancreatic cancer.

2006: Disney buys Pixar for $7.4 billion. Jobs becomes Disney's largest sole shareholder and much of his wealth is derived from this sale.

2007: Apple releases the iPhone.

2008: Apple opens its App Store as an update to iTunes amid mounting speculation that Jobs is ill.

2009: Jobs returns from medical leave in June after undergoing a liver transplant.

2010: Apple sells 15 million iPads in nine months and has an 84 percent share of the tablet market by year's end.

2011: Apple launches the iPad 2 on March 2.

2011: Jobs' resignation as CEO announced Aug 24. He is replaced by Tim Cook, Apple's chief operating officer.

2011: Jobs dies Oct 5 at age of 56 after battle with pancreatic cancer.

(Arun Kumar can be contacted at arun.kumar@ians.in)-THANKS

BEARISH VIEWS FLOWING....

ONE MORE ARTICLE TO SUPPORT MY EARLIER PUBLISHED VIEW OF BOTTOM SUPPORT AT 4500 LEVEL. bUT THE DIRECT FALL TO IS NOT ON THE CARDS....

MARKETS LOST GROUND ESPECIALLY ON THE GLOBAL TURMOIL, NOW CRIPPLED BY DOMESTIC EVENTS...SBI DOWNGRADE ......MORE TO FOLLOW ON  BANKING ISSUES....AFTER 2G..MINING..LAND SCAMS......INFLATION....

Exhausted already? Bad news! Market can take out 8-10% more

Published on Tue, Oct 04, 2011 at 18:08 |  Source : CNBC-TV18

Updated at Tue, Oct 04, 2011 at 22:40  

Moneycontrol Bureau

It was a sea of red on Dalal Street as investors were left shell-shocked by a Moody’s downgrade of the nation's numero uno lender, State Bank of India .

Moody's cut SBI's ratings from C minus to D plus and said that the bank's tier-I equity cannot support its growth and rising rates.

SBI, however, is not unduly worried.

The PSU major's March disclosure is still haunting the bank, believes Mehraboon Irani, principal and head of private client group business at Nirmal Bang Securities. The profit after tax (PAT) had tumbled a whopping 99% Y-o-Y to a meager Rs 20.8 crore.

Also, Irani said, people have started to ask questions about SBI’s proposed rights issue. "Even if they [SBI] come out with a rights issue at a near date, the fact is that SBI will need to absorb the higher credit cost for the growing NPAs. Now, NPAs were already around 3.2% as of the last quarter. I think everything is not easy as far as the bank is concerned," he said.

According to Irani, even at the present price, SBI still has negatives around. “I am still resisting from giving a “buy” recommendation at the present level,” he said.

It is a wake up call for Indian public sector undertakings — the way they have been managed, feels Sudip Bandyopadhyay of Destimoney Securities. “Everybody knew that the bank needs tier-I capital and the government was dilly-dallying. In the midst of it, Moody’s came and cut the rating. It is unfortunate. SBI will find it pretty difficult. Its cost of borrowing will go up in the international market. And considering they have significant overseas operations, it is unfortunate. However, one word of caution is that we should not read too much into these rating agencies figures their credibility is also a suspect,” he said.

In this backdrop of downgrades and global uncertainty, the Nifty plummeted 100 points but recovered to close at 4,772 down 77 points, while the Sensex lost 286 points to close at 15,864. The index has shed over 800 points in three days.

The obvious questions on investors’ minds right now would be: Are the current valuations attractive and how much more fall can one expect in the markets? Also, is the fall a good time for investors to get in and buy more?

Well, markets can certain fall further from current levels, said technical analyst Abhijit Paul, AVP at Brics Securities Limited. “I think that we can definitely drift below the previous low of 4700 on the Niftyfuture,” he stated adding, “I sense that equities are likely to drift further down to the tune of 8-10% from hereon.”

He advised holding on to, the Nifty future on the downside, closer to that 4430-4480 range, where there is a meaningful confluence of supports.

But the problem, according to Irani, is that nobody wants to buy because people know that they are surrounded by poor macros, globally and locally.

"Valuations across the board can become more and more attractive as we go ahead over the next one to three months," he believed.

For investors to seriously start looking at the market, we need to see a more sustainable rally, explained Anil Manghnani of Modern Shares & Stock Brokers.

"You are not getting sustained shorts, where you create enough shorts in the system after which you will have a nice pullback rallies. I want to see that discount become bigger. I would like to see 4720 break. I am not trying to be negative. All I am trying to say is it will call for the next better rally, more sustainable rally," Manghnani said.

Sagar Salvi
sagar.salvi@network18online.com THANKS TO AUTHOR AND CNBC

WEALTH CREATION.....

10 important steps in wealth building

P V Subramanyam, On Monday 19 September 2011, 3:26 PM

Wealth creation is a time consuming, easy to understand and very difficult to implement process. There are no cut fast rules on how to create wealth.

Deepak Parekh, Uday Kotak, Rashesh Shah, Nirmal Jain, Raheja, Hiranandani, are all people who have created wealth by the greatest method. Run a good business, leverage with people and brand building. Leverage with geography and borrowed funds….then take the company public. By doing this every rupee of earning gets valued at 30 for Mr. Deepak Parekh (HDFC has a P/E of 30) and similar numbers for the others. These people made their money from equities, debt, commodities and of course listing their companies!  I am not talking that league, yet.

Let us see what all you should know — we will start with 10 steps:

1. Understand the Power of Compounding: it looks odd to realise that the power of compounding is NOT taught well at school! They give you some simple examples — rarely are you taught the POWER! Even people working in financial services do not appreciate the power of compounding. Ignore this only at YOUR OWN PERIL.

2. Understand the Power of NOW: LEARN the power of starting to compound as soon as possible in life. If you have not understood, NO TIME LIKE TODAY..pick up the pen, call the advisor, click on the net — whateva…just start, NOW, TODAY.

3. Understand the Power of Regularity — start a SIP AND make sure you do it regularly — not missing a single month. If by chance you do miss a month of investing, immediately pick up a cheque and send it in! At the end of a YEAR you should have invested 12* Amount being invested every month. If suddenly you have money, top up the SAME account.

4. Understand the power of Not Touching the Money for 'n' years: Capital and Wealth creation needs long periods of growth. If you do not touch the money for any sundry purpose, leave it untouched. This helps in compounding. REmember this for life!

5. Understand the power of LEARNING: If you are willing to wish to invest in equities — directly or through mutual funds,    learn as much  as possible about equities. Invest in learning, before you invest your money.

6. If you do not (or will not) learn about equities, never mind, learn the power of indexing in equities!

7. Learn simple things like keeping your accounts in an excel sheet and keep track of the paise….the rupee will take care of itself. Track your income, collect all monies due, track your expenses, track your investing and returns.

8. For events which you know invest. For sad events which MAY happen,insure. You never know….

9.Remember delayed gratification may not be easy, learn it. Food which gives 30 seconds of pleasure on the tongue stays in your waist for 30 years. I understand this….but when I see a sweet I still fall for it. Knowing and implementing are completely different animals. Alas!

10. Invest in education, training, health, travel and fun. Very important to remember do not forget the present for doing something great in the future. The future is important, but the present is vital.

The author P V Subramanyam is a Chartered Accountant by qualification and a financial trainer by profession. Writing being a passion he also regularly pens his thought in his blog Subramoney.com

 THANKS TO YAHOO.....