May 27, 2007

The PM at the CII meet

http://www.mbauniverse.com/innerPage.php?id=ne&pageId=326

The prime minster at the CII annual session gave a speech and listed out 10 point social charter. Here are the listed 10 points.

1. Respect for and welfare of employees
2.CSR should not be only for tax purposes
3.Pro-active involvement of industry in promoting employment to less privileged
4.Resist excessive remuneration for to promoters and senior execs
5.Invest in people
6.Desist from non-competitive behavior
7.Invest in environment friendly technologies
8.Promote enterprise and innovation
9.Fight corruption at all levels
10.Promote socially friendly media

What has attracted the attention of the media are the forth and sixth points, those on remuneration for senior execs and a sentence related to non-competitive behavior where the PM said "Even profit maximization should be within the bounds of decency and greed!" And that is the reason why i spent a whole hour of my prep time for the CFA searching for the PM's speech. But as my CFA preparation seems to come to a halt, no regrets!

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