Interesting stories from around the world...
Morgan Stanley freezes investment bank hiring: Source - The Economic Times: "Morgan Stanley froze hiring at its investment banking unit for the rest of 2010, a person familiar with the matter said on Monday. But Morgan Stanley has ruled out layoffs in the division this year, the person said. The hiring freeze includes the investment bank's sales and trading units."
'For creation of industry responsive workforce in Gujarat, we have tied-up with 15 groups including Tata, Toyota and Apollo, besides some regional and central institutions,' Director Centre of Entrepreneurship Development Chandan Chatterjee told media.
Tata Motors has agreed to mentor ITI Sarkhej for creation of skilled manpower for automotive sector, while the state's contribution will be towards equipment upgradation,' he said, adding that the target was to reach 50 such tie-ups with industrial groups on public-private partnership basis.
To begin with, the state has identified seven priority sectors such as Chemical, Plastic and Packaging, Garment, Auto and Engineering, Gems and Jewellery, besides Textiles and Infrastructure.
It aims to train personnel through the network of polytechniques and Industrial Training Institute's (ITI) across the state. To ensure quality training to them in accordance with industries requirement, it has coined the concept of Anchor Institutes.
'The seven institutions including NIFT, Gandhinagar and few regional institutes designated as Anchor shall recommend curriculum in line to industry demand, besides imparting training to faculty for each one of the identified sectors,' Chatterjee said.""
As L.S.S.I. Takes Over Libraries, Patrons Can’t Keep Quiet - NYTimes.com: "SANTA CLARITA, Calif. — A private company in Maryland has taken over public libraries in ailing cities in California, Oregon, Tennessee and Texas, growing into the country’s fifth-largest library system.
Now the company, Library Systems & Services, has been hired for the first time to run a system in a relatively healthy city, setting off an intense and often acrimonious debate about the role of outsourcing in a ravaged economy.
A $4 million deal to run the three libraries here is a chance for the company to demonstrate that a dose of private management can be good for communities, whatever their financial situation. But in an era when outsourcing is most often an act of budget desperation — with janitors, police forces and even entire city halls farmed out in one town or another — the contract in Santa Clarita has touched a deep nerve and begun a round of second-guessing.
Can a municipal service like a library hold so central a place that it should be entrusted to a profit-driven contractor only as a last resort — and maybe not even then?"
Now the company, Library Systems & Services, has been hired for the first time to run a system in a relatively healthy city, setting off an intense and often acrimonious debate about the role of outsourcing in a ravaged economy.
A $4 million deal to run the three libraries here is a chance for the company to demonstrate that a dose of private management can be good for communities, whatever their financial situation. But in an era when outsourcing is most often an act of budget desperation — with janitors, police forces and even entire city halls farmed out in one town or another — the contract in Santa Clarita has touched a deep nerve and begun a round of second-guessing.
Can a municipal service like a library hold so central a place that it should be entrusted to a profit-driven contractor only as a last resort — and maybe not even then?"
Govt mulls new laws to make global audit firms accountable - The Economic Times: "NEW DELHI: The government is considering changes in laws to make multinational audit firms responsible for professional wrongdoings by their Indian affiliates. Currently, domestic laws do not allow regulatory action against the global network of such firms, even if their Indian affiliates are found guilty of professional negligence.
“You (the global network) can’t say that you are not responsible,” corporate affairs minister Salman Khurshid said in an interview. “If an associate firm does something wrong ... will the liability rest with the firm doing the audit in India or will the liability go back to the firm with the same name globally?” he said."
“You (the global network) can’t say that you are not responsible,” corporate affairs minister Salman Khurshid said in an interview. “If an associate firm does something wrong ... will the liability rest with the firm doing the audit in India or will the liability go back to the firm with the same name globally?” he said."
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