LOS ANGELES/WASHINGTON
INT61International/Diaspora/CrimeUS meltdown forces Indian American to kill self, family of five Fourth leadBy Arun KumarLos Angeles/Washington, Oct 7 IANS An Indian American millionaire, who turned pauper overnight in the great American meltdown, killed his wife, mother-in-law and three sons and then took his own life in one of the first tragedies linked to the deepening financial crisis.Karthik Rajaram 45, was found dead in his upscale Porter Ranch home in Los Angeles Monday along with his wife Subasri 39, mother-in-law Indra Ramaseshan 69 and sons, Arjuna 7, Ganesha 12 and Krishna 19.When police entered the home in the gated, Spanish-style community, they first found Rajaram's mother-in-law in a downstairs bedroom. His wife and son Krishna, a student at University of California, Los Angeles UCLA majoring in business economics, were discovered in various upstairs bedrooms, all shot in the head, some with multiple gunshot wounds.Rajaram himself was found dead in a bedroom with Ganesha and Arjuna, the gun still in his hand, police said."This is a perfect American family behind me that has absolutely been destroyed, apparently because of a man who just got stuck in a rabbit hole, if you will, of absolute despair, somehow working his way into believing this to be an acceptable exit," said Los Angeles Police Deputy Chief Michel Moore."It is critical to step up and recognise we are in some pretty troubled times," he said.Rajaram, the Porter Ranch financial manager who once made more than $1.2 million in a London-based venture fund, had lost his job, according to the Los Angeles Times. His luck playing the stock market too ran out.On Sep 16, he bought a gun. He wrote two suicide notes and a last will and testament. And then, sometime between Saturday night and Monday morning, he killed his family before taking his own life.In a letter addressed to police, Rajaram blamed his actions on economic hardships. A second letter, labelled "personal and confidential", was addressed to family friends; the third contained a last will and testament, Moore said.The letter to police voiced two options: taking his own life, or killing himself and his entire family. "He talked himself into the second strategy," Moore said. "That that would be the honourable thing to do."Authorities believe Rajaram killed his family and himself after seeing his finances wiped out by the stock market collapse, the Times said citing a source familiar with the case, who spoke on condition of anonymity because the investigation is ongoing.Concern about the family's welfare began Monday morning when Rajaram's wife, Subasri, did not show up for her carpool. Friends went to the house in the 20600 block of Como Lane, only to find it strangely quiet. The morning newspaper lay in the front yard. The family's two cars, a Suburban and a Lexus SUV, were parked in the driveway.The Rajarams had lived in the upscale Sorrento neighbourhood of Porter Ranch for a couple of years in a 2,800-square-foot rented house. The landlords, an Indian couple, said that the family paid their rent on time and that there were no indications of trouble.Neighbours in the Northridge neighbourhood where the family previously lived said they were well-liked and enjoyed entertaining guests. Except for one night when residents heard a man screaming for hours, the family seemed content for the nine years they lived there.But Rajaram, who held an MBA from the University of California, was a hard-driving businessman involved in several financial ventures. A 2001 article in The Daily Telegraph of London, under the headline "Bust, but big bucks for the big boys", called Rajaram a "winner" in a deal for NanoUniverse, a Los Angeles- and London-based venture fund taken public on the London Stock Exchange.For a 12,500-pound investment, Rajaram, one of the company's founders, received 875,000 pounds - or about $1.2 million in 2001 dollars - after a voluntary liquidation, the newspaper reported.He also sold his house in 2006, a calculated decision even though his wife, a bookkeeper at a pharmacy, did not want to move, their former neighbours said. He sold the house for $750,000, making a sizable profit on a home the couple purchased in 1997 for $274,000. It is unclear how Rajaram invested the cash since then and how he lost it.In 2003 and 2004, he worked for Greg Robinson, an entrepreneur and founder of several companies, at Azur Partners LLC, a management consulting agency. Robinson said he was forced to fire Rajaram because "his life wasn't moving in the right direction"."He had some behavioural problems," Robinson said. "He wasn't reliable... He was not an emotionally stable person. It was a real problem and would affect any business he was involved in."The two had also worked together in the Century City office of PriceWaterhouseCoopers and Robinson recalled Rajaram as being "a very smart guy", who he believed posted a perfect score on his business school entrance exam.--Indo-Asian News Serviceak/am/dg886 Words*07102046
2008-10-07 11:02:06Hasina, Khaleda have no ill-gotten wealth: government probe
INT25International/PoliticsHasina, Khaleda have no ill-gotten wealth: government probeDhaka, Sep 26 IANS Bangladesh's former prime ministers Sheikh Hasina and Khaleda Zia, who were imprisoned on graft charges for over a year, "possess no ill-gotten wealth", says a probe by the military-backed caretaker government. The government's Anti-Corruption Commission ACC is unlikely to file any case against the two women leaders of the mainstream parties, who are preparing to slug it out in the parliamentary polls slated for Dec 18. The year-long enquiry has not found any ill-gotten wealth accumulated by them. The anti-graft watchdog is, in fact, considering closing the matter, The Daily Star newspaper quoted unnamed ACC sources as saying."The ACC could have filed cases against Sheikh Hasina and Khaleda Zia earlier had there been any evidence that they accumulated ill-gotten wealth as filing of such cases is easier than cases on other corruption charges," an ACC official said requesting anonymity."Observing carefully, one will find that most cases against high-profile corruption suspects were filed over illegal wealth. As the ACC has not yet filed any such case against the two former premiers, it is likely to close the matter," the official said. Asked about the delay in taking steps regarding the wealth statements of Awami League leader Hasina and Bangladesh Nationalist Party's BNP Zia, ACC Director General Admin Col Hanif Iqbal told reporters: "Time is necessary for proper scrutiny. The commission has not yet taken any decision regarding the matter."Zia had filed a wealth statement from jail claiming that her income between 1982 and 2007 included house rent, pension as a parliamentarian, her salary as the prime minister for 10 years and as leader of the opposition for five years, some landed property left behind by her husband, the late president Ziaur Rahman, besides a Toyota car, two Toyota SUVs and a Nissan SUV. The statement also listed "seven sofa sets, two sets of dining tables, 20 lamps, one coat, 10 air coolers, three carpet and two television sets".Hasina in her wealth statement said she does not own any house or land and that most of her properties, which are not in Dhaka or abroad, are inherited.She also mentioned salaries she received in her capacities as the prime minister, a lawmaker and the opposition leader and benefits from inherited properties.Ownership of the land in her ancestral home is shared by sister Rehana. It was left behind by their father and Bangladesh's first president Sheikh Mujibur Rahman. Both women leaders had filed their statements from jail, when the banks had refused to supply them documents. The ACC expressed its inability to pursue cases pertaining to ill-gotten wealth on a day it approved the chargesheet against Zia and 15 others, including 10 former ministers of the BNP and its ally Jamaat-e-Islami, in a case filed in connection with illegally awarding the Barapukuria coalmine operation contract to a Chinese company.--Indo-Asian News Serviceved/mj/jg525 Words*26091057
2008-09-26 01:00:00Enterprise Rent-A-Car, Europcar strengthen partnership
, Europe’s top rental car company, to include Enterprise, National Car Rental and Alamo Rent A Car brands in North America, creating the largest car rental network in the world. Enterprise and ...
2008-09-06 18:00:00Credit squeeze moves car clubs into top gear
Zipcar and Streetcar pursue more clients in a push to build scale for their fast-growing businesses as increasing number of drivers choose to rent rather than buy vehicles
2008-08-25 17:08:21Practical Traveler | Renting a Hybrid: With Supplies Tight, Prices Are High
Faced with sticker shock at the gas pump, more travelers are turning to hybrid rental cars in search of savings. But with demand high, these green cars are commanding a premium.<br/><br/><span class="advertisement"> <a href="http://www.pheedo.com/click.phdox=e6fe5cb455024fb0a38a83de04ff8b33&u=http://www.nytimes.com/2008/08/24/travel/24prachybrid.html"><img src="http://www.pheedo.com/img.phdox=e6fe5cb455024fb0a38a83de04ff8b33&u=http://www.nytimes.com/2008/08/24/travel/24prachybrid.html" border="0"/>
2008-08-25 04:46:07Auckland Airport well prepared for the future: Auckland International Airport Limited Auckland Airport today announced another solid financial result as it now looks to the future.
Operating earnings before interest, tax and depreciation Operating EBITDA increased 13.7 per cent to $275.8 million or an increase 7.3 per cent after adjusting for one-off items. Net profit after tax was $113.0 million, an increase of 3.3 per cent over the previous year after adjusting for one-off items and changes in the fair value of the company’s investment property portfolio. The results for the 2008 financial year support a positive view for the Airport, despite the obvious challenges in the current economic environment and industry conditions. This result was achieved notwithstanding a slight softening in the growth of international passenger numbers, increased capital costs resulting from the company’s investment programme and the significant one-off costs and business disruption associated with responding to the ownership interest and takeover activity over the last 12 months. The relative strength of the result can be attributed in part to strong growth in domestic passenger numbers from a more competitive local airline environment, enhancement of the company’s retail offering, strong growth in rental and car parking income and the revised aeronautical prices that progressively commenced this year. Total revenue for the year ended 30 June 2008 was $351.0 million, an increase of 9.0 per cent over the previous year.
2008-08-24 09:39:11Norway's million-kroner views
Three days before our scheduled departure overseas, I found out that our cruise to the Norwegian arctic was canceled. My wife and I already had round-trip plane tickets to Norway that were etched in stone. And our bags were packed for northern climates. So we decided to relive our youthful style of travel. We'd buy a map and a guidebook, rent the cheapest car available, stuff leftover breakfast rolls into pockets for our lunch, and hit the road. It all made sense at the time.
2008-08-21 02:41:45Price Fixing and the Return of the Robber Barons
Baby goods, consumer electronics, home furnishings, pet food, and car rentals are among the goods and services being affected.
2008-08-19 04:20:38Sun, wine and dance in Auckland
<p><font size="2"><strong>Saif Ali Khan<p>I think when you are young you want to travel to the more happening places, the ones your friends tell you about or where all the buzz is. And I also think the meaning of travel changes at different times. If it means exploring the world in your youth, as you start growing up you understand yourself better during travels. That’s what my recent travels have done for me, and although I do visit all the happening and trendy places for film shoots and shows, there is always a place that calls out to you because you find yourself there. And for me that place is Auckland, a dream holiday destination as it has everything for everybody and yet, it is underrated as far as tourists are concerned, which in a way helps preserve its natural charm, and untainted beauty.<p>Auckland is a one of its kind geographical miracle, as the city is situated around 50 volcanoes, which are of course extinct but lend character to the city. Most people go to Auckland only when they have relatives living there or if they are in Australia and go to Auckland for the weekend or something. But I like going there for at least a week at a stretch if I have time. I usually rent a car for that duration and that is the best way to see the city, because it is not really known for its public transport and most locals have their own cars. Also it is a vast city and if you want to walk to the important sites, you end up losing a lot of time. Instead of hiring cars from rental services, look for locals renting out their cars during the season as that works out cheaper.<p>Auckland is an interesting mix of the old and the new world. The ancient Maori culture is preserved by the locals — try saying, ‘Kia Ora’, which means good day to a local and see their face light up. They instantly warm up to you.<p>Waitakere ranges are the hidden treasure of Auckland, you just don’t expect to visit such beautiful ranges with stunning waterfalls, rugged treks in the heart of a big city. Not very far is Potiki, the area where you can get a taste of the Maori traditions, the war dance you see the Black caps perform before rugby matches can be seen done by kids in the neighbourhood. But it is advisable to have a local or a guide with you when you get into this district because the locals here might tend to keep a distance from you. If you are an adventure lover, take a jump from the sky tower and feel the adrenaline rush.<p>Everyone talks about the wine that the French or the Italians make. But try wine made here and take a ferry to Waiheke island close by. Spend the day soaking in the sun, and walking through the wineries, tasting some of the best wines in the world.<p>A good evening can also be spent at the Caluzzi bar, where you can have a seven course meal while you watch floorshow and award winning acrobats perform<p>Of course no trip to Auckland is complete without a ride up the imposing sky tower, one of the tallest buildings in the world. The view of the city from there is spectacular if you can be patient or beat the queues to get up there. If you are travelling with family, there are a few entertainment parks, which the kids will enjoy, or you could take them to the aquarium. There are underwater tunnels, where you can see sharks swimming around you. If you have the time, take a trip to the museums, but do not miss the Saturday flea market. Also visit Made, the one of its kind supermall in the world that houses practically every clothing brand you can imagine, along with the couture of some of the local talents. The prices might be high but it’s worth every penny.<p>But remember, do respect the traditions of the locals and don’t do or say anything inappropriate that might hurt someone.&quot;<p> <p>As told to Chhaya S.<p>Â
2008-08-17 18:38:42Airport volunteers ready for RNC visitors Politico
Politico - They know where to find an ATM, a rental car or a quiet spot to work on your laptop.
2008-08-15 19:00:00
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