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Wednesday, April 12, 2006

Mittal-lica's steel banging.

Though I neither have much interest nor understanding of the steel industry but LNM caught my eye for reasons other than his business skills.

OK. I also admit I have a bias for anything that breaks a stereotype and LNM is one who has done this at various levels. Below are few that I noticed.

General impression about Indians is that they make curries, make babies, write software, take support calls and stink of greasy curry. LNM, probably makes curries and has made babies but does not write software or take support calls and surely does not stink of Calvin Curry.

Let's get colloquial. LNM is a Marwari Jain. Hahaha ... you thought I would talk about his steel mills. Now, Marwaris are stereotyped too. Big, greasy, puri eating, white kurta PJ clad trader and absolutely unsophisticated. I need not explain how the stereotype is broken here, you may guess it yourself. Second thoughts, he owns the world's most expensive and tasteful house (yes, you read it right. Click here for pictures.) and at one time he showed serious interest in buying Larry Ellison's yatch (at that time the world's biggest. Click here to see pictures.). Click here to read more about LNM.

His family had been in steel business and been very happy doing what they did in domestic market. LNM could have stayed on his butt and minted money anyways by inheriting his daddy's sweat. Another stereotype broken, LNM in true Metallica tune of "Wherever I may roam"; he head banged all over the globe as if "Nothing else matters" bought loss making steel mills and turned them profitable.

As a businessman, all the while Arcelor ("the victim") kept throwing its dirty laundary at LNM for being the spoil sport because of the acquisition bid by Mittal Steel , ya "Sad but true" LNM not once said anything negative about the company, its board or the Luxembourg's protective Govt. Instead, he had been all praise.

I have my own opinion about his acquisition bid for Arcelor but we'll talk some other time.


Anonymous said...

Mittal is a marwari hindu.. he is not a jain.