Small plane crashes in Palm Beach Co., Pilot dies

Federal authorities are investigating a small plane crash in Palm Beach County.

The body of the pilot was found on the scene. No other injuries were reported and  it was not immediately known if anyone else was in the plane at the time.
A statement from the sheriff's office says the Pilot's body will be taken to   the medical examiner's office.

It was not immediately known what caused the crash early Sunday morning.

 Authorities say the single engine plane was found in cane fields near the Pahokee Airport.

The Indian Institute of Management, Indore, has received seventh rank on various parameters

The Indian Institute of Management, Indore, may have courted controversies in the recent past, but it has done fairly well academically when compared to other B-Schools in the country.

According to a survey conducted by a management portal, in which except for IIM-B nearly 200 prominent business schools participated, IIM-I has received seventh rank on various parameters. The ranking survey was based on research methodology. Some specific criterion like the number of applications received, number of permanent and visiting faculty, total seats, median domestic salary and percentile cut-off were looked into before finalizing the rankings.

According to rankings, IIM-Ahmedabad tops the list, followed by IIM-Kolkata and IIM Lucknow, respectively, for the next two slots. The other seven B-schools in the top 10 list as per their rankings are - XLRI, NMIMS School of Business Management Mumbai, Faculty of Management Studies (University of Delhi), IIM-Indore, Management Development Institute, Gurgaon, S P Jain Institute of Management & Research Mumbai, and IIM-Kozhikode. Five out of the top 10 B-schools are non-IIMs, a trend that signifies private institutes' strive and urge to attain top slots.

The survey was conducted under the guidance of Padma Shree Bakul Dholakia, former director, IIM- Ahmedabad and R K Shukla, former director, NCAER-Centre for Macro Consumer Research. In the survey, Dholakia has pointed out that ranking a management institute is a difficult task. I hope the ranking would help MBA aspirants and recruiters make the right choice.

William (Bill) H. Gates Chairman of Microsoft Corporation,

Mr William (Bill) H. Gates is Chairman of Microsoft Corporation, the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

On June 27, 2008, Gates transitioned out of a day-to-day role in the company to spend more time on his global health and education work at the Bill & Melinda Gates Foundation. He shares his thoughts about the foundation and other topics on Gates Notes, a Web site launched in January 2010. Gates continues to serve as Microsoft's chairman and as an advisor on key development projects. In June 2006, Craig Mundie assumed the new title of chief research and strategy officer at Microsoft and is responsible for the company's research and incubation efforts.

Born on Oct. 28, 1955, Gates grew up in Seattle with his two sisters. Their father, William H. Gates II, is a Seattle attorney. Their late mother, Mary Gates, was a schoolteacher, University of Washington regent, and chairwoman of United Way International.

Gates attended public elementary school and the private Lakeside School. There, he discovered his interest in software and began programming computers at age 13.

In 1973, Gates entered Harvard University as a freshman, where he lived down the hall from Steve Ballmer, now Microsoft's chief executive officer. While at Harvard, Gates developed a version of the programming language BASIC for the first microcomputer - the MITS Altair.

In his junior year, Gates left Harvard to devote his energies to Microsoft, a company he had begun in 1975 with his childhood friend Paul Allen. Guided by a belief that the computer would be a valuable tool on every office desktop and in every home, they began developing software for personal computers. Gates' foresight and his vision for personal computing have been central to the success of Microsoft and the software industry.

Under Gates' leadership, Microsoft's mission has been to continually advance and improve software technology, and to make it easier, more cost-effective and more enjoyable for people to use computers. The company is committed to a long-term view, reflected in its industry-leading investment in research and development each year.

In 1999, Gates wrote "Business @ the Speed of Thought", a book that shows how computer technology can solve business problems in fundamentally new ways. The book was published in 25 languages and is available in more than 60 countries. "Business @ the Speed of Thought" has received wide critical acclaim, and was listed on the best-seller lists of the "New York Times", "USA Today", "The Wall Street Journal" and on Amazon.com. Gates' previous book, "The Road Ahead", published in 1995, was at the top of the "New York Times" bestseller list for seven weeks.

Gates has donated the proceeds of both books to non-profit organizations that support the use of technology in education and skills development.

In addition to his love of computers and software, Gates founded Corbis, which is developing one of the world's largest resources of visual information - a comprehensive digital archive of art and photography from public and private collections around the globe. He is also a member of the board of directors of Berkshire Hathaway Inc., which invests in companies engaged in diverse business activities.

Philanthropy is very important to Gates.  He and his wife, Melinda, started a foundation in 2000 to help reduce inequities in the United States and around the world.  The Bill & Melinda Gates Foundation supports philanthropic initiatives in the areas of global health and learning, with the hope that in the 21st century, advances in these critical areas will be available for all people.  To learn more about the foundation, visit www.gatesfoundation.org

Gates was married on Jan. 1, 1994, to Melinda French Gates. They have three children. Gates is an avid reader, and enjoys playing golf, tennis and bridge

 bill gates

When you believe something can be done, really believe, your mind will find the ways to do it. Believing a solution paves the way to solution.

Believe it can be done. When you believe something can be done, really believe, your mind will find the ways to do it. Believing a solution paves the way to solution.

Norman Vincent Peale

Believe it is possible to solve your problem. Tremendous things happen to the believer. So believe the answer will come. It will.

James E. Faust

Believing requires action.

James Allen

By the power of faith every enduring work is accomplished.

Author unknown

Courage is the power to let go of the familiar.

Kingfisher Airlines, which used to operate out of domestic Terminal 1A of the city airport was served an eviction notice by Mumbai International Airport

Kingfisher Airlines, which used to operate out of domestic Terminal 1A of the
city airport was served an eviction notice by Mumbai International Airport Pvt
 Ltd (MIAL) a week ago. The airline, which owes Rs 22 crore to the airport
operator, has been rented out offices and check-in desks at the said terminal.

The development casts doubts on Kingfisher's ability to resume operations as the
airport operator has already started the process of getting another airline to move
 its operations to Terminal 1A.
While an MIAL source said that Kingfisher did not respond to their eviction notice,
an official from the airline, while confirming that they did get a notice from MIAL,
added that they had replied to the said notice. "We do not need all that space anyway
since we have scaled down our operations. So, we were in the process of voluntarily
handing over some of the rented space back to MIAL,'' the official added. Kingfisher
and the MIAL spokesperson refused to comment on the development.
Kingfisher, which operated close to 400 domestic and international flights daily
from various airports in India till last year, started scaling down its flight
operations from November 2011. "By the end of September 2012, the airline barely
had a total of 16 arrivals and departures a day out of Mumbai airport's Terminal 1A,''
said an airport source. "While plans are afoot to move Go Air from Terminal 1B to 1A,
we are also looking at the process involved in reclaiming much of the space rented
out to Kingfisher as the asset has not produced any income for quite a while,
because of the airline's inability to pay the rent,'' he added. "A few days
ago MIAL and Go Air officials came to have a look at the Kingfisher offices
located in Terminal 1A,'' said a Kingfisher source. "A meeting between
different agencies was also held a few days ago at the airport to apprise
them about the development and to discuss how the process of moving the
low-cost airline into Terminal 1A could be carried out,'' said the airport
source.

The move holds significance as Mumbai and Bangalore were the two airports that bore the load of a majority of Kingfisher's flight operations. "It is not every day that airlines move operations in and out of terminals. So, MIAL's eviction notice to Kingfisher's and their subsequent proposal to Go Air to move into Terminal 1A speaks volumes about what the future envisages for the beleaguered carrier,'' said an aviation source.
After an employee unrest left its flight schedule crippled, Kingfisher had announced a partial lockout on October 1. This was followed by another blow when on October 20, the Indian aviation regulator, the Directorate-General of Civil Aviation, suspended the carrier's licence to operate commercial passenger flights within and out of India. The recent development does not augur well for an airline that is supposed to be trying to resume its operations since then, added the source.

Mutual Fund reforms to begin Tomorrow

Investments in mutual funds will get simpler and safer-- but a bit costlier in some cases-- starting tomorrow as the industry is set to implement some wide-ranging reforms by market regulator Sebi.
Among various reform measures taken by Sebi (Securities and Exchange Board of India), the fund houses will have to make more disclosures in the interest of investors. They also have to shift to the one plan per scheme model, moving away  from the present practice of cluttering one scheme with numerous plans.

At the same time, fund houses will be able to charge their investors a little bit more as incentive for expanding to small cities, but would also have to set aside a small portion of their assets for investor education and awareness.

The changes in mutual fund regulations were approved by Sebi's board in its last meeting on August 16 and have been notified over the past few days. Now, these would come into effect from tomorrow, October 1.
As per the notifications, the fund houses might charge investment and advisory fee on their schemes, which would have to be fully disclosed in the offer document. In case of a fund of funds scheme, the total expenses of levied on the scheme would be capped at 2.50 per cent of the daily net assets of the scheme.

In addition to the total expenses already levied on schemes, Sebi would allow the fund houses to levy brokerage and transaction costs, which is incurred for the purpose of execution of trade and is included

Jet Airways Etihad deal will be win-win in Global Aviation Recession

As talks of a possible buyout of Jet Airways by the Abu Dhabi-based Etihad Airways gather steam, this is a good time to look at the reasons why the deal makes sense for both parties.

First Etihad Airways. In a bid to expand its global presence and counter the threat from its neighbours’ fast expanding global airline Qatar Airways and the Dubai-based Emirates, Etihad has, in the last year or so, either acquired or raised its stake in at least three international airlines. In June this year, the airline acquired a four per cent stake in Virgin Australia for close to $35.6 million and indicated that it was keen to raise its holding to 10 per cent.

SIZE MATTERS

This was followed with Etihad raising its stake in Germany’s Air Berlin to 30 per cent, acquiring a 40 per cent holding in Air Seychelles and a three per cent stake in Ireland’s Aer Lingus.

Industry analysts say that the Jet-Etihad match is a perfect one, especially for the cash-strapped Jet Airways. “Should the deal go through, it will be a win-win situation for both the airlines and passengers. The Indian carrier will get access to much-needed funds, a global network, latest technology and best management practices. The global carrier will get access to traffic originating from India’s interiors. Indian passengers will gain from increased competition that is expected to lead to better offerings, seamless travel through code-shares and cheaper airfares,” says Amber Dubey, Partner and Head – Aviation, KPMG.

At the same time, the tie-up will provide Etihad an opportunity to tap into the fast growing Indian outbound market. In addition, it will mean that Etihad will not need to wait for the Indian Government to allow it to operate more flights into India because of a cap on bilateral air service agreements with other countries.

FAMILIAR INVESTORS

The benefits of tapping into the outbound Indian market will be huge for both Etihad and the Indian economy. For instance, a recent Emirates-commissioned study highlighted the economic advantages for the domestic economy if the Government allows it to operate up to 80,000 seats a week from India from its current entitlement of about 57,000.

Many point out that the tie-up, if it happens, will cement old ties that Jet’s promoter, Naresh Goyal, has with the region. When Jet Airways took to the skies, Kuwait Airways and Gulf Air invested in the airline. It was only when policies here changed that Jet purchased those stakes from these two foreign companies. Now that foreign airlines are allowed to invest in Indian carriers, Jet Airways can again turn to this region for the financial support it needs.

Incidentally, Jet is not the only carrier looking to partner with a foreign airline. Low cost flier SpiceJet is also said to be in talks with foreign airlines. It was rumoured that another low cost airline, Air Asia, was eyeing SpiceJet.

CASH INFUSION

The Malaysian airline has, however, said that it is neither in talks nor is it interested in picking up stake in an Indian carrier. SpiceJet had earlier also said it was in talks with airlines in the Gulf region.

There are various reasons why Indian carriers are looking at possible tie-ups with foreign airlines. To begin with, Indian banks are refusing to lend them any more funds. It is expected that the latest policy change will help bring in much-needed funds into the cash-strapped and deep-in-the-red Indian carriers. In Jet Airways’ case, Eithad is expected to be issued fresh shares with the money so raised bolstering the carrier’s finances.

A look at the latest finances of Jet and other listed carriers shows why such tie-ups are essential. Jet Airways’ net loss shrunk to Rs 100 crore in the September quarter from Rs 714 crore in the year ago period backed by a forex gain of Rs 70 crore and a jump in operating income. Similarly, SpiceJet posted a net loss of Rs 163.52 crore for the quarter ended September 30 against a loss of Rs 240 crore in the comparable previous year period. Incidentally, after five consecutive quarters, all Indian airlines posted a net profit of Rs 56 crore in the first quarter of the current financial year. Though these are positive signs, they still have a long way to go before they start making money.

THE PUBLIC GOOD

Of course, the fit between an Indian carrier and a foreign one has to be perfect. This is why many feel that unlike the Jet-Etihad tie-up, the one between SpiceJet and Air Asia would not have worked. “The operating model of the two airlines is different. Air Asia deploys a single aircraft fleet while SpiceJet has a two-aircraft fleet. Besides with the current financial health of SpiceJet, this might not be the right time for Air Asia to invest in it,” said an aviation analyst.

Government officials further point out that any stake sale is unlikely to provide any immediate benefit for the flying public. “The reason behind the policy change was to provide some comfort to the airlines. It is hoped that with the policy change the airlines will not only get access to funds but will also be able to tap in to international airlines’ management expertise,” said a senior Government official. Of course, it will be a while before all this translates into any benefits for flyers.

Why a Jet-Etihad deal will be win-win Hindu Business Line The Malaysian airline has, however, said that it is neither in talks nor is it interested in picking up stake in an Indian carrier. SpiceJet had earlier also said it was in talks withairlines in the Gulf region. There are various reasons why Indian ... See all stories on this topic » Hindu Business Line

Delta eyes Virgin Atlantic swoop: Sunday Times Reuters India LONDON (Reuters) - Delta Air Lines, America's largest airline, is plotting to take control of Virgin Atlantic after making a secret approach to the British carrier's Asian shareholder, Britain's Sunday Times reported. Delta (DAL.N) is understood to ... See all stories on this topic »

Flight attendants lobby airlines for carry on baggage 'incentives' The Australian THE days of passengers being able to carry luggage on to planes for free could be numbered with the Flight Attendants Association of Australia pushing for an overhaul of current baggage arrangements by airlines. Cabin crew claim they are regularly ... See all stories on this topic »

Engine of Pakistan flight with chief justice on board catches fire Times of India The Pakistan International Airlines flight PK-308 bound for Islamabad, was ready to take off on the taxiway here when fire broke out in one of its engines causing panic and scare among the passengers which included the Chief Justice Iftikhar Chaudhry ... See all stories on this topic »

Aspen travelers seeing fewer airline seats Aspen Times ASPEN — With Frontier Airlines out of Aspen's air-service picture, the overall number of airlineseats coming into the Aspen-Pitkin County Airport this winter will be down 20 percent. That said, there is room to move as many passengers in and out of ... See all stories on this topic »

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Jet seeks govt nod to lease two A330s Business Standard ... two Airbus 330-300s to deploy them on the Mumbai-Newark (US) route as part of its A330s fleet replacement plans. The airline has written to the government to allow it to lease two Airbus A330s to induct in its fleet, chief executive Nikos Kardassis ... See all stories on this topic »

Great Year-End Travel Deals By Malaysia Airlines Bernama KUALA LUMPUR, Dec 2 (Bernama) -- Malaysia Airlines is offering exciting airfares through its Year End Sale (YES) from Dec 3, 2012, Dec 17, 2012 for travel from Dec 5 this year till Sept 30 next year. This is a great opportunity for travellers to start ... See all stories on this topic »

Chinese airline in buyout talks with Cargolux China Post Beijing -- An unnamed official from HNA Group, the parent company of Chinese Hainan Airlines Co. Ltd., said the group had initial contacts with European cargo airline Cargolux Airlines International SA regarding a possible acquisition. See all stories on this topic »

New ideas for airline fees discussed at local conference Los Angeles Times After all, the world's biggest airlines are expected this year to collect $36.1 billion in revenue for food, drinks, wireless Internet service, roomier seats and checked bags. But the airline industry is not resting on its money-making laurels. At a ... See all stories on this topic »