Word: cashes
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...initial response to this distress may be a familiar one to my fellow Harvard students—I decided to work harder, to sleep less, and to spend much of my Crimson Cash on coffee and Red Bull. And while I did notice some improvement here and there, I knew this approach was unsustainable. Exhausted and bleary-eyed on Friday nights as I reflected on the school week that had just ended, I felt overwhelmed and intimidated by the work that lay ahead...
...Real change began four years ago with the arrival of German retail giant Metro Cash & Carry. Foreign companies are still barred from setting up multi-brand retail outlets in India (single-brand shops, such as Nike and McDonald's, are allowed), but Metro was able to start a wholesaling business and sell directly to mom-and-pop shops, hotels, hospitals and other companies. But because the law still forced Metro to buy produce through the mandi system, there was little chance for improvements. Then Metro convinced the southern state of Karnataka, home to high-tech hub Bangalore, to change...
...After Reliance began to pay the farmers more, we also now have to pay more. But our sales have dipped as customers are being lured by air-conditioned shops." In the nearby state of West Bengal, the government is likely to block licenses that would allow Reliance and Metro Cash & Carry to deal with farmers directly. "We will not allow anyone to disturb the [existing] chain," says Naren Chatterjee, chairman of West Bengal's State Marketing Board...
...also now talking about building its own massive cold-storage facilities outside major cities such as New Delhi to spur the transition to a more efficient supply chain. While middlemen may be feeling the pinch, farmers selling to Reliance say they're happy to be paid in cash as soon as they hand over their goods. "We were dealing with thieves who always used to cheat us," says Karnataka grape farmer Veeranna Gowda. "But we Indians believe in rebirth and because of good things I've done in the past, I am now benefiting." Reliance hopes all Indians will soon...
...constructed a watertight system of oversight and transparency, he says, that will take petrol revenue out of government hands and put it under the control of an independent commission. The government has even set up an account at the Federal Reserve in the U.S. to hold all the cash that it expects to flood in. "We've learned the lessons of Africa," says Praxeres. "We have to use the money to invest in education, infrastructure and health - a future that is sustainable...