Word: lakshmi
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...moon of the lunar month of Kartika marks Diwali, the Indian festival of lights, when Hindus across the country worship the goddess of wealth, Lakshmi. But divinities know full well the laws that govern finance, and Lakshmi may now be a little tight-fisted about circulating her riches amid the ongoing global credit crunch...
...advertisers and marketers urging the devout to spend money with a religious fervor, as they hawk everything from chocolates and consumer durables to gold and houses. Buying a home is considered especially propitious. What better way to welcome the goddess of wealth into one's life than by inviting Lakshmi into a new abode? Thus, the period from just before Diwali through March is usually a bonanza for the real estate industry: some 70% of the annual business is conducted then...
...them than most people make over five lifetimes. The house next door, which has a pool under the driveway, is owned by an Arab family who bought it for $20.5 million. And a few minutes' walk away, in Kensington Palace Gardens, Indian steel magnate and Britain's richest man Lakshmi Mittal owns a manse that's reportedly worth about $112 million...
Indeed, if history is any guide, Indian companies take rebuttal as a challenge. When British-based Indian-born businessman Lakshmi Mittal first bid for French steel maker Arcelor last year, the company's French CEO said he was horrified by the idea of an Indian taking over, likening Mittal Steel to eau de Cologne and Arcelor to perfume. Within months, Mittal had won out. A century earlier, when Tata founder Jamsetji Tata suggested making steel for the colonial railway system, a British administrator dismissed the idea with barely concealed contempt. Earlier this year, Tata paid almost $14 billion...
...according to Lakshmi Iyer, who is also an assistant professor of Business Administration, recent events—such as the scandals surrounding Enron and the Arthur Andersen accounting firm—indicate that bad publicity isn’t a sufficient deterrent from corruption...