Swingers 2008

Written by Corporate Bureau | Updated: Dec 31 2008, 06:28am hrs
The 1960s are synonymous with all the exciting, radical, and subversive events and trends of the decade, which continue to develop to this day. As 2008 draws to a close we cant help but compare the year with the sixties for well all the exciting, radical, and subversive events that happened over the last 12 months.

Sample the list below to get a fix on the Swingers of 2008. Of course, we dont claim this to be a be-all and end-all kind of listing, or that this is the Holy Grail for yo-yo collectors, or that you didnt know about them already. But then, this is that time of the year. So, there you go. At the cost of sounding repetitive, lets just say that the Top Swingers of 2008 were

* The Sensex: Perhaps the biggest swinger of them all. After breaching the 20,000 mark at the beginning of the year, the Sensex lost more than 60% this year and is hovering at the 10,000 mark currently, making it one of the worst performers in the Asian equity scene

* The Indian Rupee: This was also a year of extreme volatility as the rupee shed over 20% against the US dollar since April. The rupee crashed to an all-time low of below 50 to a dollar in November. The fall was, in part, set in motion by over-leveraged investors who sought refuge in the safe havens, in particular the dollar, struck as they were by the financial sector meltdown

* Investor Confidence: Investors cheered the news that Indias largest IT services company Tata Consultancy Services (TCS) was acquiring Citigroups BPO arm Citigroup Global Services (CGSL) for $505 million (Rs 2,424 crore) in an all-cash deal. On the other extreme, Indias top private lender ICICIs share price dipped more than 70% over concerns regarding the health of its books. As we round off the year, IT major Satyam Computer Services is facing tough questions about corporate governance after a miscarried attempt to buy two of its sister firms for $1.6 billion...

* The IPL: With the Indian Premier League, IPL in short, the game of cricket ceased to be well just another game. It created canny business people out of Bollywood stars and crorepatis out of cricketing newbies. Of course, the craze around IPL and rival ICL prompted fears among boards that its multi-million franchise model could compromise player loyalties. The argument continues

* The Nano: After a much-hyped launch planthat promised to put West Bengal back on the industrialisation trackRatan Tata was forced to move the Nano plant out of West Bengal to you know it Gujarat (Sanand in Ahmedabad, to be precise). Dont forget the days of hectic parleys in between. The exit of the small wonder Nano from Singur meant the roll-out went off schedule. With it, the dreams of many two-wheeler families

* Jet Airways: In a span of two dramatic days for its staff and the media, Jet Airways fired and re-hired 1,900 of its probationary employees in October. Newspaper reports suggested that these employees were assured by the management that their jobs were safe just about two months before being handed the pink slip