Word: mallya
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Dates: during 2000-2009
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...Following similar logic, private players Jet Airways and Kingfisher, owned by the liquor baron Vijay Mallya, are expanding existing budget operations to try to increase business during the economic downturn. They aren't starting from scratch. Both airlines already had rechristened budget carriers - Jet Lite and Kingfisher Red - acquired in 2007. Now they are transferring capacity to the economy fleets. Kingfisher Red jets are flying more routes; as a result, about 75% of all domestic passengers that now fly with Kingfisher are traveling budget class, up from 50% a year ago. Meanwhile, Jet Airways, India's oldest private player...
...biggest problems is the way teams are funded. The bulk of the resources for top performers comes from major carmakers. BMW, for instance, contributed an estimated $200 million to its team this year, nearly six times the sum invested by Indian Vijay Mallya, the billionaire owner of Fisichella's Force India. Small teams struggle to make up the difference through sponsorship or their share of the sport's commercial rights...
...Seebeck's not kidding about heavy hitters. Among the franchisees is Reliance Industries chairman Mukesh Ambani, the world's 14th richest man, with an estimated net worth of $20.1 billion. Not quite as wealthy but rather more flamboyant is Vijay Mallya, known for throwing lavish parties in his home city of Bangalore and for his co-ownership of the Force India Formula One team. The enterprise's big guns aren't fooling: "We want the IPL to be one of the icon brands in the world," says IPL chairman Lalit Modi, "and we are going to push everything that...
...Mallya isn't the only one expanding. William Grant & Sons, owner of Glenfiddich single malt, plans to build a new distillery, as does Bruichladdich on the island of Islay. In February, Diageo announced plans for a $200 million distillery and other facilities in Scotland, and the firm may double its investment if demand in emerging markets pans...
...panel found the additional duty on imported wines and spirits a "blatant violation" of World Trade Organization (WTO) rules, and with the U.S. also complaining, the WTO has launched its own investigation. A ruling may be more than a year away, but things may move more quickly now that Mallya too is an importer. The self-styled "King of Good Times" is a Member of Parliament as well...