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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4822)	6/30/1999 2:58:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Boston Consulting Group to advise Larsen & Toubro on restructuring plan (Thursday, July 1, 1999) Our Corporate Bureau in Mumbai (Business Standard) Larsen & Toubro Ltd (http://www.larsentoubro.com/), the engineering and cement major has appointed the US-based Boston Consulting Group (BCG) as advisors on the company's restructuring plan. The international consultants are expected to develop a comprehensive programme to steer the Rs 7,291 crore L&T towards becoming a premium conglomerate and to maximise shareholder value. BCG is expected to submit its recommendations by mid-November 1999. BCG will propose definite measures for value creation through accelerated growth and enhanced profitability. It will also review the company's business portfolio and revalidate the company's strategies for becoming an Indian multinational, according to L&T press release. The international consultants are also expected to review presentations made by the six internal taskforces before submitting their report. L&T's new CEO and managing director, AM Naik had appointed the taskforces in the company to primarily take a look at the performance of division. Naik has been evaluating the option of hiving the cement division and switchgear business into separate companies. He has also been considering moving away from other fringe businesses like medical equipments and glass bottles. The consultants are expected to flag off the entire exercise with a three-day interactive management work-out in which L&T's top 100 managers would participate.

To: Mohan Marette who wrote (4822)	6/30/1999 3:21:00 PM
From: Lee	Read Replies (1) \| Respond to of 12475

Hey Mo, Just got in and heard the news. Inflation, what inflation??? If the Fed isn't more than 25 bp worried, then I don't know why that schmuck is! <g> Where do you get all these descriptive adjectives? LOL bog.frb.fed.us Best, Lee

To: Mohan Marette who wrote (4822)	6/30/1999 8:10:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 12475

'Home boy' Arjun Sekhri (ex Salomon Smith Barney guy) in deep doo-doo. Former Salomon worker arrested in Australia NEW YORK, June 30 (Reuters) - A former Salomon Smith Barney investment banking associate, who fled the U.S. over a year ago to evade insider trading charges, has been arrested in Australia, federal prosecutors said Wednesday. Arjun Sekhri, 33, formerly of Jersey City, N.J., is currently in Sydney, Australia awaiting extradition. Prosecutors said that Sekhri was arrested on May 30. He was charged in March 1998 with two counts of securities fraud and conspiracy to commit securities fraud. The complaint against him was expanded to nine counts on Monday to include charges of money laundering and wire fraud. The charges against him allege that he obtained confidential information while working as an associate in Salomon's mergers and acquisitions department and then passed the information on to others. The scheme, which produced about $1.8 million in illegal profits, allegedly occurred between December 1996 and February 1998. Three defendants previously pleaded guilty to securities fraud charges arising from the scheme. One of them was sentenced to two years in jail and ordered to pay $469,595 in restitution. If convicted, Sekhri faces a possible maximum sentence of 40 years in prison on the money laundering counts alone. biz.yahoo.com