MUMBAI/NEW DELHI -- When a $2 billion dollar fraud at state-run Punjab National Bank rocked India two months ago, Chetan Hemani and other small business owners could have been forgiven for thinking “what’s that got to do with me?” Confident of his good credit record and long relationship with his bank, Hemani, who is a pharmaceutical machinery manufacturer and exporter, had thought getting approval for a 25 percent overdraft above his 10,000,000 rupee ($153,330) credit limit would be little more than a formality. But when Canara Bank, another state-run lender, turned down his request in March, Hemani says he gleaned from conversations with bank officers that he was a collateral casualty in the fallout from India’s biggest banking scandal. “It is suffocating,” Hemani said. “When influential people defraud a big bank like PNB and run away, there is nothing they can do. All they do is to squeeze retail borrowers.” The banks’ increased … [Read more...] about India’s small businesses find credit in short supply after mega-fraud
Why does business need finance
It’s not every day a new club comes along with solid finances, an existing supporter base and big-name endorsements – and still has questions asked of it. If Southern Expansion are the right new club for the A-League, why does so much of their bid feel so wrong? Let’s start with the claim that they won’t cannibalise Sydney FC’s support, as bid chairman and former New South Wales premier Morris Iemma told The World Game website in midweek. “The people of St George don’t see themselves as part of Sydney FC at all. There is no relationship there,” said Iemma. Yet on the very same day, Sydney FC chief executive Danny Townsend told local newspaper The St George and Sutherland Shire Leader that a third of their fans hail from the region. “Around 32 per cent of our fans come from St George and the Sutherland Shire areas and we want to accommodate them with A-League content,” Townsend said. So which is it? Someone, it seems, … [Read more...] about Are Southern Expansion the club the A-League needs?
Long gone are the glory days of Arsenal in the late 90s and early 2000s. In that time, Gunners fans were spoiled with eight major trophies. Nine years later, the architect of those successes has become the villain. Arsene Wenger has single-handedly changed the perception of this once great club. Before the arrivals of Chelsea and Manchester City, Arsenal was considered a serious rival for the title. Not anymore. Arsenal has become a club that has settled four fourth spot as their new prize. A few seasons back players celebrated when they finished fourth – not something you would have seen from the Arsenal of old. It says much about a manager whose greatest accomplishment of the last decade is the transfer to a new stadium. In life many things become outdated, it’s natural – and Wenger’s time has simply past. But will he be shown the door? No. Wenger will keep his job until he pleases. Fourth has become the new first in North London and due to that … [Read more...] about Fourth is not first: Why it is time for Arsene to go
Sports News Entertainment Opinion 56° Full Menu 56° eEdition Customer Service Customer Service About Us Contact Us FAQ Advertise Place Classified Ad Display Advertising Stay Connected Mobile & Apps Facebook Twitter E-mail RSS Feeds My Subscription Activate Digital Subscription Manage Account Newsletters News News Local Crime Weather Education Marijuana California Nation/World Databases Special Reports Obituaries Death Notices Sports Sports High Schools Outdoors Grizzlies MLB NBA NFL College Columnists David White Politics Politics Elections Political Notebook Fresno State Bulldogs Fresno State Bulldogs Football Basketball Entertainment Entertainment Calendar Movies Movie Times Music TV Theater & Arts Comics Puzzles & Games Dine Out Peoples Choice Blogs & Columnists Beehive Rory Appleton Joshua Tehee Living Living Food & Drink Calendar … [Read more...] about Why was Bulldog Stadium overhaul shelved? It didn’t pencil out, Fresno State president says
The United States men’s national team’s failure to qualify for the 2018 World Cup has fans hungry for change at the top of U.S. Soccer. Saturday’s presidential election will decide a lot about the organization’s future, and there’s a lot of focus on the resume of one candidate in particular: Soccer United Marketing president Kathy Carter. Carter has served as the president of SUM since 2010 and has worked for MLS since its inception in 1996. Both outgoing president, Sunil Gulati, and MLS commissioner Don Garber, who is also SUM’s CEO, have reportedly recruited USSF voting members to support Carter. SUM is a sports marketing company and the commercial arm of Major League Soccer. Its owners are the league’s club owners. It holds the rights to market U.S. national team TV broadcasts and sponsorships through 2022. As MLS has grown in stature and the U.S. national teams’ progress has slowed considerably, SUM has become an American soccer … [Read more...] about Why SUM is at the center of the U.S. Soccer presidential debate
• Our most recent SI/Tennis Channel podcast was with Marcus Willis, darling of Wimbledon 2016, who was delightful.• Next up: the inimitable Chris (Mad Dog) Russo. Totally on account of the guest, this one is a great listen. Trust me.• Thanks to all of you who wrote in about my girls’ softball dilemma. All suggestions and perspectives were appreciated. We’ll discuss next week.• The player with the sport’s most fitting name is on the verge of making the main draw of the next Grand Slam. Tennys Sandgren, a 25-year-old from Tennessee, is at the Savannah Challenger this week. A successful tournament and he'll win the USTA French Open reciprocal wild card. Injured for much of his 20s, Sandgren is playing with no coach, no agent and limited finances. Suddenly ranked No. 134, he’s a few matches from the biggest month of his career.Let’s start with some tennis economics:A few nights ago, reader Dan Martin wrote via twitter: … [Read more...] about Mailbag: The economics of tennis and why the sport loses out on young athletes
This is TNA’s time for change: in direction, in name, and most of all, in lack of Dixie Carter.In 2001, pro wrestling in the United States went from 3 federations to 1. WCW was bought out and ECW folded, leaving only the WWF. In 2002, fans were able to have hope again when a new federation arose, Total Nonstop Action Wrestling. TNA gave us hope that we would see wrestling once again outside of the strictly Sports Entertainment realm. However, 1 mistake after another began a decline for the company. Now, as many predicted for years, it appears Total Nonstop Action is Totally Stopped. Well in name, and leadership.Last year was a controversial time TNA with their leadership. With famous rock star Billy Corgan coming in to assist, to actually becoming President of TNA, briefly. After only 3 months and a court battle, Billy Corgan was out of TNA. The replacement for a long time wrestling fan who understood the fans… Anthem Sports & Entertainment.Based in Canada, Anthem … [Read more...] about TNA Impact Wrestling in Need of Drastic Changes
David Shaw is only 41, but he’s already coached in three BCS bowls and had three Top 10 finishes. As Shaw enters his fourth season at his alma mater, the former Stanford Cardinal wideout has not only emerged as one of the top coaches in football, but also one of the stronger voices in college sports.He hasn’t been shy about speaking out, as he did last spring when he told me why he hoped the SEC would go to nine league games, same as the Pac-12 given the new playoff format.Last week, I caught up with Shaw to discuss, among other things, how he’s grown as a coach, his concerns about the potential for significant change in the way the business of college athletes is run and his potential interest in returning to the NFL as a coach. Q: In what ways do you think you’re a better coach now than when you first got the job?Shaw: The successes and failures help you. And sometimes you really learn from the losses the things we could’ve done better, but you also … [Read more...] about Q&A: David Shaw talks Stanford and why he’s intrigued by NFL
MIAMIDavid Beckham sure knows how to make an entrance. The soon-to-be MLS investor/operator captured attention and sparked interest from the moment he landed in Miami on Monday. He mingled with local politicians and posed for the cameras at an event on Tuesday night.As usual, his splashy presence offered a hint of greater things to come. The payoff arrived at a press conference with MLS commissioner Don Garber and Miami-Dade County mayor Carlos Gimenez this morning. Beckham confirmed his intention to exercise a contractual option to invest in a MLS club and place it in Miami, pending the approval of a stadium deal and the MLS Board of Governors."This is an exciting time," Beckham said. "This is an exciting time for myself, my family and friends and partners. It’s something we’re really looking forward to bringing to Miami."The transition from concept to reality isn’t finished yet, though. This … [Read more...] about Everything you need to know about David Beckham, MLS and MLS in Miami
If NFL owners aren’t careful, they might just force us tosympathize with guys who make more in a year than most will takehome in a lifetime. Chad Ochocinco could come off looking like somesort of modern-day Cesar Chavez.The real world keeps getting lost during all this talk of apossible lost football season.Enough already.On Monday, as people went back to work for less money than theyused to make – or simply out to look for a job – it was abundantlyclear this is NOT the time for the billionaires (a.k.a. the owners)to draw a line in the sand against the millionaires (a.k.a. theplayers).Not when checks are smaller and health insurance costs more forso many Americans. Not when ”Bank Owned” signs are still a commonsight in front of foreclosed homes. Not when Wisconsin, home of theSuper Bowl champion Green Bay Packers, is paralyzed by a disputebetween a state government that says it’s broke and workersresisting a major whack to their benefits and union … [Read more...] about Tell us again: Why is there an NFL labor dispute?