Word: steeles
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...Ratan Tata, chairman of Indian conglomerate Tata Group, spoke to TIME earlier this year, he urged his countrymen to dream big. India, he said, should "be bold. It must look at the future ... It must look big, and look out." Last week he showed just what he meant: Tata Steel, part of his sprawling $22 billion empire, made an $8 billion bid for the Anglo-Dutch steel manufacturer Corus. The deal, accepted by Corus' board last Friday, creates the world's fifth-largest steel company and is the largest Indian takeover of a foreign company ever...
...Pare your margins. Create new markets." The Tata group's global clout means its chairman's thoughts on the world economy are worth listening to. The group comprises 96 companies, including the world's second largest tea business (Tata Tea); Asia's largest software firm (Tata Consultancy Services); a steel giant (Tata Steel); a worldwide hotel chain (Indian Hotels); and a sprawling vehicle-manufacturing arm (Tata Motors) that includes a bicycle factory in Zambia and a project to make a car selling for $2,200. Since Ratan Tata became chairman in 1991, he has multiplied Tata group revenues seven times...
...prominence for the emerging Asian conglomerate in 2000 when the most Indian of brands bought one of the most English, Tetley Tea. At $435 million, the deal was the biggest in Indian history, and it presaged a wave of international expansion by Indian and Chinese businesses like Mittal Steel and Lenovo. For Tata, entering the West was not an end in itself. Buying Tetley was simply a way to grow Tata Tea. "We look for the acquisition of companies that fill a product gap or have a strategic connection with what we do, wherever that company might be," says Tata...
...business, as well as good karma: "We are not in anything for charity." Lest this all sounds too good to be true, the group is not free from controversy. In 2001, Tata Finance sacked its managing director and five other senior managers over alleged financial irregularities. In January, Tata Steel's plans to build a mill in the eastern state of Orissa went tragically awry when police fired on protesters who were accusing the state government - acting as a broker in the development - of making profits on the sale of their land. Twelve were killed. But to shed...
...winery just behind the medieval church, the picture couldn't be more different. Charles usually sells his entire wine output to a local merchant, who bottles and markets it for him. But this year, for the first time, the merchant is refusing to take any of it. The stainless-steel vats in Charles' shed are filled with tens of thousands of liters of Cabernet Sauvignon and Merlot from last year's harvest that he's now frantic to sell at any price to make room for this year's crop. Charles, 58, stands in his courtyard, surrounded by clucking hens...