A noble cause with profit too.Written by Ms.Lakshmi Devi
What started out, as an export of hand-woven fabric and bed linen to United States, with special customers, like exclusive boutiques is today Kalpa Druma - one place you'd go to for quality handicrafts. From States, we went to Australia, New Zealand and United Kingdom. It was only in 1994 that retail operations began with Kalpa Druma, by sourcing handicrafts from all over country for a niche people. The specialty of Kalpa Druma is that we have crafts from all over India, from every nook and corner. Every season we come out with something different and new. We have designers working with us and we work with very specialized craftsmen, about 150 of them. Soon we diversified into home textiles.
| | Peter Scannell - Market Timing Whistle BlowerWritten by John Parsons
In March 2000, Peter Scannell had only a fundamental knowledge of how a mutual fund company worked. Despite this, he got a job at Putnam Investments' call center in Quincy , Massachusetts . Peter Scannell was only working there a short time when he became aware of efforts by outside investors to make rapid trades in and out of Putnam. Calls would flood call center in late afternoons between 3 and 4 pm. The trades were made by eager investors ready to make huge transfers, reflecting a practice known as market timing. When U.S. stocks surged, boilermakers bought into funds composed of foreign companies, which had finished trading before prices for those funds were set at 4 p.m. They were betting that international markets would follow Wall Street's trajectory next day, scoring them a quick profit. Market timing is not illegal. However, it can erode gains of long-term investors. Scannell says he told supervisors he thought transfers might be against National Association of Securities Dealers' rules. His supervisors laughed at him saying it was not his concern and that it wasn't illegal.
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