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Saturday, March 31, 2012

Where do you stand on the global pay scale?

If there were no rich and poor, and everyone had an equal share of the world's total pay packet, how much would they earn?

The total value of world income is closing in on $70 trillion (£43.9tn) per year, and there are seven billion people in the world, so the average income is heading towards $10,000 (£6,273) per person per year. Easy.

But not everyone has a job and some of those seven billion are children. So another question you could ask is: "What is the world's average wage?"

First, they work out the total wage bill for every country in the world. To do that they get the average salary from each office for national statistics, and multiply that amount by the number of earners in each country.

In this way, they are able to give more weight to countries which have more workers in them. The average salary in China has more influence on the world average than the average salary in New Zealand, where many fewer people live.

Once they have the total wage bill for each country, they add them all together and divide by the total number of earners in the world.

That gives you the answer - the world's average salary is $1,480 (£928) a month, which is just less than $18,000 (£11,291) a year.

But these dollars are not normal US dollars. The economists use specially adjusted exchange rates - the average salary is calculated in Purchasing Power Parity (PPP) dollars. One PPP dollar is equal to $1 spent in the US.

Essentially, the PPP dollar takes into account the fact that it is cheaper to live in some countries than others. The idea is that we don't care how many actual dollars somebody is paid in, say, China, but we care about what sort of stuff those dollars can buy.

"If someone in China takes their salary of 1,500 yuan per month and they go to the bank, they will actually get $200," ILO economist Patrick Belser explains.

Another way of putting it is that the conversion to PPP dollars expresses how much it would cost you in the US to get the equivalent goods and services you can buy with your salary locally.

But calculating the world's average salary is still an exercise worth doing, according to Belser.

"It certainly tells you something about the state of worldwide economic development, I would say. We always use Gross Domestic Product (GDP) as the reference, but I think we also have a whole lot of trouble understanding exactly what is the meaning of GDP, whereas wages are a much more obvious indicator of the quality of life.











Business That Makes Sense

A reply from CEO of J.P. Morgan to a pretty girl seeking a rich husband

A young and pretty lady posted this on a popular forum:

Title: What should I do to marry a rich guy?

I'm going to be honest of what I'm going to say here.

I'm 25 this year. I'm very pretty, have style and good taste. I wish to marry a guy with $500k annual salary or above.

You might say that I'm greedy, but an annual salary of $1M is considered only as middle class in New York.

My requirement is not high. Is there anyone in this forum who has an income of $500k annual salary? Are you all married?

I wanted to ask: what should I do to marry rich persons like you?

Among those I've dated, the richest is $250k annual income, and it seems that this is my upper limit.

If someone is going to move into high cost residential area on the west of New York City Garden(?), $250k annual income is not enough.

I'm here humbly to ask a few questions:
1) Where do most rich bachelors hang out? (Please list down the names and addresses of bars, restaurant, gym)
2) Which age group should I target?
3) Why most wives of the riches are only average-looking? I've met a few girls who don't have looks and are not interesting, but they are able to marry rich guys.

4) How do you decide who can be your wife, and who can only be your girlfriend? (my target now is to get married)

Ms. Pretty

A philosophical reply from CEO of J.P. Morgan:

Dear Ms. Pretty,
I have read your post with great interest. Guess there are lots of girls out there who have similar questions like yours. Please allow me to analyse your situation as a professional investor.

My annual income is more than $500k, which meets your requirement, so I hope everyone believes that I'm not wasting time here.

From the standpoint of a business person, it is a bad decision to marry you. The answer is very simple, so let me explain.

Put the details aside, what you're trying to do is an exchange of "beauty" and "money" : Person A provides beauty, and Person B pays for it, fair and square.

However, there's a deadly problem here, your beauty will fade, but my money will not be gone without any good reason. The fact is, my income might increase from year to year, but you can't be prettier year after year.

Hence from the viewpoint of economics, I am an appreciation asset, and you are a depreciation asset. It's not just normal depreciation, but exponential depreciation. If that is your only asset, your value will be much worse 10 years later.

By the terms we use in Wall Street, every trading has a position, dating with you is also a "trading position".
If the trade value dropped we will sell it and it is not a good idea to keep it for long term - same goes with the marriage that you wanted. It might be cruel to say this, but in order to make a wiser decision any assets with great depreciation value will be sold or "leased".

Anyone with over $500k annual income is not a fool; we would only date you, but will not marry you. I would advice that you forget looking for any clues to marry a rich guy. And by the way, you could make yourself to become a rich person with $500k annual income.This has better chance than finding a rich fool.

Hope this reply helps.

signed,
J.P. Morgan CEO

Saturday, January 14, 2012

2011 - An Year In Review


This is more of reminiscence actually.... All i wanna say is that... This year has been more than perfect and has been an year of many first things! :D

Well the year started off with  sad note, getting my 7th semester marks where I barely passed out didn’t hamper my spirits and left to my native place, Vizag :D... met some wonderful people there... some awesome friends..
 it feels amazing when u actually have a shoulder to cry on when u really need it!

TFL Happened all of a sudden thanks to a friend of mine. from the first day, i was dragged into numerous discussions in the group and eventually made some good friends :)

Finally I graduated with a pretty decent aggregate and then the ultimate experience in life happened. I was an employee :D
Moved to Bangalore, started living with my brother’s colleagues, the formal dress code of the company everything was pretty new to me at the same time was exciting :D
It was one of the proudest moments of my life when I got my first pay check :D

 Ive learnt that u get to know who ur true friends are only when your in deep shit!!
So next time u are into some problem... just try being optimistic about it!! Becos believe me that’s what life is all about... :D

Wanna be happy?
Just try being optimistic about everything in life... Never expect anything from others.. Just be who you are and never ever try to imitate others! :) Most important of all... never miss an opportunity to make new friends... because friendship after all in the essence of life... the more... the merrier! :)

Thanks to all those dear ones who had the patience to listen to all the crap that i say! :) Thanx for trying to make me grow up! Thanx for correcting me when im wrong!! And finally... Thanks for... being there :D
On this happy note, I wish 2012 would be better than what 2011 was. :D

Thursday, October 27, 2011

Why Do people avoid conversations by faking phone calls??

13 percent of people fake cellphone calls to avoid conversations

42 percent of adults also turn to their cellphones to alleviate boredom.

People on cellphones in NYC



About 13 percent of mobile phone users are guilty of conducting fake conversations to get out of real conversations, according to a new study from the Pew Research Center’s Internet & American Life Project.

In a nationally representative telephone survey of nearly 2,300 American adults — with a margin of error of 2 percent — people confessed that they used their mobile devices as a way to show they don’t want to be bothered.

The report found that American adults also rely on cellphones when they are bored, with about 42 percent turning to their devices for entertainment during downtime.

Text messaging and picture-taking continue to top the list of ways that Americans use mobile phones — three-quarters of all cell owners (73 percent) use their phones for each of these purposes. Other relatively common activities include sending photos or videos to others (54 percent of cell owners do this), as well as accessing the Internet (44 percent).

Although 83 percent of American adults own some kind of cellphone, one-third of American adults (35 percent) own a smartphone, the report noted.



Monday, October 17, 2011

The other side of Football : Charity

It wouldn't be ruffling too many feathers to suggest that our footballers don't often make it easy for themselves. Whether it is accusations of affairs with glamour models, super-injunctions to cover murky pasts or an alleged refusal to take to the field of play, such unsavoury incidents leave the sourest of tastes in the mouths of the paying public.

Much of this resentment comes down to the status of modern footballers. In doing a job that we would crave to do for free - and being paid handsomely to do so - it is inevitable that when a player steps out of line, the bitterness will turn to anger. We are told that they have let down their club, the fans and the children who look up to them. Easily forgetting the avoidable misdemeanours made in our own lives, we have an assumed negativity about footballers' behaviour, and every wrong is worth more than a few rights. But is this automatic assumption of idiocy and thoughtlessness not unfair? Surely our supposition of the greedy and selfish footballer cannot be wholly accurate?

You may be aware that last week a boy named Jack Marshall passed away. He had been diagnosed with a brain tumour at four years old, and was aged just six at the time of his death. Whilst this is indeed a sorry tale, Jack was able to live his life to the fullest through the actions of some of the Premier League's biggest stars - none more so than Jack Wilshere. As well as spending time with Jack and his family, including an impromptu kickabout with Jack's brother Josh in a local park, the awareness raised by the actions of Wilshere and others is astonishing. He wore wristbands bearing his young friend's name and regularly tweeted support for Jack's charity to his 900,000 followers.

However impressive the conduct of Wilshere, he is certainly not alone. Didier Drogba, often a figure of hate from opposition fans, was appointed in 2007 as a United Nations Goodwill Ambassador, and has worked tirelessly to use his status to bring peace to his native Ivory Coast. Preferring for his work to remain private unless publicity is necessary, Drogba donated all of the money received for a £3million advertising deal to fund a hospital in Abidjan. After retiring, Drogba has pledged to continue to develop his charity - the Didier Drogba Foundation.

Craig Bellamy is another recipient of tireless terrace abuse. In 2008, Bellamy assisted in the building of a foundation in Sierra Leone for children disadvantaged through war, a programme which aims to provide football as an escape from poverty and conflict.

What is of greater importance than the examples raised is that they form a minute percentage, the tip of the iceberg in deeds done by our heroes. From Aston Villa's relationship with children's charity Acorns to Bob Wilson's bike rides for cancer charities via Jason Roberts, Rory Delap and Rob Green (amongst many others), the efforts are wide and far-reaching. Simon Morgan, Head of Community at the Premier League, estimates that clubs (not including efforts from individuals) have invested £111.7million into charitable projects in the last three years. We could all do and give more to charity, and none of us are selfless, but that figure indicates a genuine desire to help that goes beyond advice from PAs to be seen to be making an effort.

Our players are not angels. In fact some of them are immature and at times immoral. This means that they may not always be treated as role models for our children, but parents should ensure that, not players. And who is an angel, anyway? Sure, we don't all pay for sex with prostitutes or cheat on our wives (though many do), but that may be partly due to the fact that we are or were not paid £100,000 per week aged 24 without having to demonstrate a semblance of intelligence.

If we are right to criticise these stars when they cross the line, we have a duty to also cherish their generosity. The family of Jack Marshall certainly will.

Sunday, October 16, 2011

Courtroom Testimony

These are things people actually said in court, word for word, taken down and now published by court reporters who had the torment of staying calm while these exchanges were actually taking place.

ATTORNEY: Are you sexually active?
WITNESS: No, I just lie there.

ATTORNEY: What is your date of birth?
WITNESS: July 18th.
ATTORNEY: What year?
WITNESS: Every year.

ATTORNEY: What gear were you in at the moment of the impact?
WITNESS: Gucci sweats and Reeboks.

ATTORNEY: This myasthenia gravis, does it affect your memory at all?
WITNESS: Yes.
ATTORNEY: And in what ways does it affect your memory?
WITNESS: I forget.
ATTORNEY: You forget? Can you give us an example of something you forgot?

ATTORNEY: What was the first thing your husband said to you that morning?
WITNESS: He said, "Where am I, Cathy?"
ATTORNEY: And why did that upset you?
WITNESS: My name is Susan.

ATTORNEY: Now doctor, isn't it true that when a person dies in his sleep, he doesn't know about it until the next morning?
WITNESS: Did you actually pass the bar exam?

ATTORNEY: Were you present when your picture was taken?
WITNESS: Would you repeat the question?

ATTORNEY: So the date of conception (of the baby) was August 8th?
WITNESS: Yes.
ATTORNEY: And what were you doing at that time?
WITNESS: Uh...

ATTORNEY: She had three children, right?
WITNESS: Yes.
ATTORNEY: How many were boys?
WITNESS: None.
ATTORNEY: Were there any girls?

ATTORNEY: How was your first marriage terminated?
WITNESS: By death.
ATTORNEY: And by whose death was it terminated?

ATTORNEY: Is your appearance here this morning pursuant to a deposition notice which I sent to your attorney?
WITNESS: No, this is how I dress when I go to work.

ATTORNEY: Doctor, how many of your autopsies have you performed on dead people?
WITNESS: All my autopsies are performed on dead people.

ATTORNEY: ALL your responses MUST be oral, OK? What school did you go to?
WITNESS: Oral.

ATTORNEY: Do you recall the time that you examined the body?
WITNESS: The autopsy started around 8:30 p.m.
ATTORNEY: And Mr. Denton was dead at the time?
WITNESS: No, he was sitting on the table wondering why I was doing an autopsy on him!

ATTORNEY: Are you qualified to give a urine sample?
WITNESS: Huh?

ATTORNEY: Doctor, before you performed the autopsy, did you check for a pulse?
WITNESS: No.
ATTORNEY: Did you check for blood pressure?
WITNESS: No.
ATTORNEY Did you check for breathing?
WITNESS: No.
ATTORNEY: So, then it is possible that the patient was alive when you began the autopsy?
WITNESS: No.
ATTORNEY: How can you be so sure, Doctor?
WITNESS: Because his brain was sitting on my desk in a jar.
ATTORNEY: But could the patient have still been alive, nevertheless?
WITNESS: Yes, it is possible that he could have been alive and practicing law.

Saturday, October 15, 2011

Chronicles of Nani : From the crushing poverty of life as an outcast to United Hero



May 2007. Aurelio Pereira receives a phone call from Carlos Queiroz, his old friend and Sir Alex Ferguson's assistant at Manchester United. Something is troubling Queiroz.


He has arrived in Portugal with his chief executive David Gill to hold transfer talks over the latest winger to roll off Sporting Lisbon's production line and wants to be sure that United are making the right decision by paying £17million for Luis Carlos Almeida da Cunha, otherwise known as Nani.


'Carlos was in a hotel in Lisbon,' recalls Pereira, the 64-year-old head of Sporting's scouting network who is revered in Portugal for unearthing stars like Luis Figo, Cristiano Ronaldo, Paulo Futre and Ricardo Quaresma but rarely speaks publicly about his proteges.



Heavens above: Nani has grown into one of Manchester United's stars

'He wanted to know about Nani's mentality and if he could handle the pressure of playing for United.


'He didn't want to know if he had good feet. He knew all about that. He wanted to know about his personality, how he could cope with a different country and a different team.


'It was a big responsibility for Carlos because it was a 25m euro deal and he wanted to be absolutely sure. I calmed him and said that, yes, he was buying a complete player.'


Hours later United shake hands with Sporting on a deal to take the 20-year-old to Old Trafford, and the next chapter in Nani's remarkable life story begins.



The number 184 is daubed on the door in blue paint but the street, if you can call it that, has no name; just a dusty track that cuts through the long grass to the place where Nani was raised in Santa Filomena, a shanty town built on the hillside overlooking Amadora northwest of Lisbon.


Thirty per cent of people between the ages of 15 and 30 who live here have a criminal record. It is unwise to pay a visit unless you are in the company of a local like Alcides Mendes, the founder and president of Espaco Jovem, the youth association that helped keep Nani away from crime after he was separated from his parents who had brought him from the African islands of Cape Verde at an early age.


His father Domingos returned there on holiday when Nani was seven and didn't come back. His mother Maria do Ceu left Portugal for Holland when he was 12, although by then the youngest of their 10 children had already chosen to live here in Santa Filomena with his aunt Antonia and her family, often sleeping six to a room with his brother and cousins.



Head over heels: Nani shows off his 'flip-flop' goal celebration















Through the iron bars protecting the windows there is a clear view down to the railway tracks which Nani would follow on foot during the six-mile round trip to training with his first club Real Massama. Sometimes, if he was late, he would jump on the train and dodge the ticket collector. On the other hand, it is only a short two-minute walk to the concrete five-a-side pitch in the middle of Santa Filomena where he mastered the art of street football.


'That's the big market for us,' says Pereira. 'The African kids from these quarters like Nani. Even now you can see how he mixes the high level of performance with the tricks of the street.'




Where Nani was raised: The village of Santa Filomena in Portugal



It was here that Nani learned how to become two-footed, a quality he has used to devastating effect coming in off the right wing for United.


'I'd stay for hours on that ring and kick with my left and right foot,' he says. 'I wanted badly to play as well with my left as I played with the right.'


Of the 80 poor kids in Santa Filomena, Mendes remembers that Nani was the 'only one who didn't stop chasing his dream'.


'He would choose the weaker players for his side in order to always have the ball,' says Mendes. 'It was five-a-side, winner stays on, and every time he lost he would be sick. He was totally focussed on winning. He just wanted to be out there playing, nothing else.

'It was very hard for the kids to know the world outside this place. The problem here is that most of the people are not immigrants but they're not Portuguese either.


Tricky feet: In action for Sporting in 2007

'They were born here but their parents are from the former African colonies like Cape Verde, so they are outcasts in society (Nani did not become a Portuguese citizen until the age of 18). Even in school they create separate classes for them.


'Nani's was a small house but the family were close and there was a great relationship between the cousins.


'His older brother was very important for Nani. He used to work in construction and sometimes Nani would go with him to help at work. He developed this strong feeling of family even though they were poor. It was a home.'


In spite of the hardship, Nani has happy memories of his upbringing. His other favourite pastime with the association was capoeira, a combination of Brazilian martial art and music. The trademark somersaults that follow each of his goals were a common sight on the streets of Santa Filomena.

'My friends said I was nuts but I wanted to keep something from capoeira and that's why I always celebrate with a flip-flop,' said Nani in a television interview in Portugal this week. 'People would always talk about that kid Nani (his sister gave him the name), the one with the curly hair.


'Life was tough but joyful. The only problem was hunger. We had not very good conditions at home, not much food. And it was my brother Paulo who'd sometimes bring food home, like cookies.




Unveiling: Fergie shelled out £17m to buy Nani from the Portuguese giants

'We would steal fruit and other stuff to eat. I went to some bad paths, but I would always return to the right one.


'You can't change or hide the past, and I'm not ashamed of the place I was born or the hard times I went through. If I reached where I wanted it was my effort and will, and it was worth it.'


Nani denies that his dad walked out on the family, insisting that red tape prevented him from returning to Portugal. The two men met up again in 2006 and Nani recalls: 'He tried to explain to me that he never abandoned me, but I just stopped the conversation and told him: "You don't need to. I'm cool. I'm happy, I know what happened, so you don't owe me any explanations".

'I didn't miss him so much because my brothers filled his role. They would give me all the support and love. I was the little boy, the protected, and nobody could touch me.'



Nani has not forgotten the times when he relied on Real Massama for food and his friends for clothes.

'I had lots of friends who helped me a lot and supported me because I had many difficulties,' he says. 'I couldn't afford expensive clothes so my colleagues would give me the trainers they weren't using anymore or their clothes. Sometimes they invited me to spend a week at their houses.

'I became a son of Massama. They gave me everything – boots and food. I had privileges that nobody else in the club had.'




Mentors: Real Massama's Luis Dias (left) and Aurelio Pereira (right)

Nani's mentor at the Second Division club, Luis Dias, admits that he could have joined Benfica instead of following his destiny to Sporting Lisbon and Old Trafford. Dias, now a youth coach at Sporting, was Nani's Under 11 coach when Massama were invited to play at the Stadium of Light by then Benfica boss Graeme Souness.


Talent spotter: With Carlos Queiros (right)

'It's true he was training with Benfica as well as Sporting,' says Dias. 'Benfica brought Massama to play in a big stadium in front of all the fans before a game against Boavista.


'But it was raining a lot that day and Souness said the kids couldn't play because they would destroy the grass. When you promise something to a player of that age you have to keep it. Benfica failed in their promise.


'They approached Nani all the time but he thought they didn't respect him. He didn't want to be a commodity. Although he was poor, Nani was very proud.'


Sensing the youngster's embarrassment at having to carry his boots in a plastic bag, Dias arranged for a senior player to donate a Lotto boot bag. It was all part of the special attention given to Nani.


'I had to be coach, psychologist, doctor, driver sometimes,' says Dias. 'I knew my job wasn't just training him. I also had to be a tutor, control what he was eating, how he was sleeping, go to the school and make sure he was going to classes. The things normally parents do.

'At Massama, he would have lunch before training and always have dinner afterwards. It was something we didn't do with the other kids. If he didn't eat at the club he probably wouldn't have eaten at all.'



It's half an hour's drive from Lisbon, south across the 11-mile Vasco da Gama Bridge and the mouth of the River Tagus, before you reach the countryside around Alcochete and the place where Nani polished his skills.


Even then, as you pass by the fields of cattle and sobreiro trees that produce Portugal's cork, there is a only a small orange road sign to indicate the final turn to the Academia do Sporting Clube de Portugal.


It is almost 10 years since Sporting built this complex, complete with seven pitches and a hotel for 50 of the 130 youngsters who train here. It costs £4m-a-year to run but Diogo Matos, the academy's director, estimates that it has already made the club £150m in terms of money saved on signing new players and the sale of star pupils like Nani and Ronaldo.



Room-mates: Nani lived at Cristiano Ronaldo's house

'We have something special going on here,' says Matos, whose current crop of Under 19s are emerging as one of the best in Europe in the much-lauded NextGen Series.

In the gym, Nani's personal best of 63 runs, covering 2,520metres, in the dreaded 'bleep test' is listed at seventh on the all-time leaders' board.

Although it was decided to keep him at Massama because of his domestic situation, he trained regularly with Sporting before joining the club at the age of 16. Nani earned £900-a-month here as an academy player but that rose to £10,000 when he signed as a professional.


The money helped to move his aunt Antonia out of Santa Filomena, and he continues to support his family financially now that he earns considerably more at United. It is a burden Nani gladly takes on but one, he admits, that has often interfered with his career in the Premier League.



Talent factory: Diogo Matos runs Sporting Lisbon's academy

'I thank God for my current situation and I'm a pillar to my family,' he says. 'Every time there is a problem they come to me and I never say no. I know what I've been through when I was younger. I just can't see someone from the family having difficulties.

'But personal problems make me lose my focus. Sometimes I'm mentally tired of it all. It might even be before a big match or a derby, but I will pick up the phone and call whoever it takes to solve the problem right away.

'I earn a lot of money but it didn't fall from the sky. I must run. When I don't play well, people will chase me. I'm the bad guy.'



Life in England has not been easy for Nani. It took a while to win over the fans and emerge from Ronaldo's shadow at United. Indeed, there have been times when Queiroz's initial concerns seemed justified.


Even after leading the Premier League in assists last season, he found himself on the bench for the Champions League Final against Barcelona, and the arrival of England winger Ashley Young in the summer prompted speculation that the 24-year-old could be on his way out of Old Trafford.


In fact, Nani has arguably been United's best player this season. He is happier off the pitch as well in the Cheshire home he shares with partner Daniela and their two dogs (a Labrador and a Chow Chow).

It's in contrast to his traumatic introduction to Manchester, even though Ronaldo was already there to help his friend adapt to the new surroundings.



Turning point: Nani's show at Arsenal in 2010 has been seen as a watershed

'The toughest part was to live alone, not speaking the language,' says Nani. 'There was a phase when I was living at Cristiano's house and it was very good. There were always cheerful people and we had everything – swimming pool, jacuzzi, tennis, ping-pong. I never missed my family.

'But later I had to leave Cristiano's to make my own life. It was hard because it was a big house and by night it seemed like a witch's house.

'I was even afraid of being home alone. Sometimes I didn't even leave the room. I went to bed early without eating properly because I didn't want to have dinner alone.'


Even now, Nani admits, he will not watch horror movies because it gives him sleepless nights. He prefers to follow the TV soap operas with Daniela and play the piano.


'It relaxes me a lot,' he says. 'And it's good to practise your concentration.'



October 2011. Porto's Estadio Do Dragao. Nani scores Portugal's first two goals in a 5-3 win over Iceland, upstaging his teammate Ronaldo. The next day's front pages of Correio da Manha and A Bola carry photos of him celebrating.


Defeat in Denmark four days later leaves Paulo Bento's team needing to qualify for Euro 2012 through a playoff, but it is clear that his No 17 – a player Bento coached at both junior and senior level at Sporting – has become a star in his own right.




Screamer: Nani scored two goals for his national side against Iceland last week

On Saturday Nani returns to Liverpool with unhappy memories. It was at Anfield in March that he was carried off in tears after a tackle from Jamie Carragher cut the United player's left shin to the bone.


Nani later claimed that it was the fear of missing the rest of the season, of not being able to play the game he loves, that made him cry rather than the injury itself.




United hero: Nani bagged the winner over rivals City in the Community Shield

'I know how hard it was for me to get here,' he says. 'I will keep fighting to go as high as I can. I will give my best to show that there is someone who fights in the name of the family.'


The boy from Santa Filomena has come a long way.