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Burger King’s way is no longer mine

Burger King will understand. I am only doing as they once advised. Like many Americans, I came to know the fast-food chain during the 1970s, when it mounted a legendary advertising campaign promoting consumer discretion. “Have it your way,” it urged people pondering the list of toppings on its signature hamburger sandwich.

“Hold the pickle, hold the lettuce, special orders don’t upset us,” went the jingle devised by the BBDO agency for Pillsbury, Burger King’s owners of the time. “All we ask is that you let us serve it your way.”

I was among the converted. While still in my teens, I became a Burger King man, opting at any opportunity for a Whopper over the Big Mac of rival McDonald’s. The fresh slices of onion and tomato on the former stirred my senses. The “special sauce” slathered on the latter, by contrast, reminded me of industrial sealant or prescription salve.

But Burger King lost me for good this week when the company, now controlled by a Brazilian private equity outfit called 3G Capital Management, revealed an $11.4bn deal to acquire Tim Hortons, a Canadian coffee-and-doughnuts chain.

The transaction left a sour taste in my mouth because it was structured as an “inversion”. That’s the word used nowadays for a US company that combines with a business in a lower-tax jurisdiction – in this case the Canadian province of Ontario – and shifts its domicile there, reducing its potential obligations to the US Treasury in the process.

My beef with such manoeuvres is that they can lead to greater burdens on the taxpayers – like me – who remain in the US. It is left to us to shoulder the costs of government, such as all the bombs our military has been dropping on Iraq in recent weeks to prevent the slaughter of Christians and other alleged infidels by people waving black flags.

Burger King and its backers, including Warren Buffett’s Berkshire Hathaway conglomerate, which is providing $3bn in financing for 3G, maintain that the move to Canada is being made for reasons that go beyond taxes. That may very well be the case; Mr Buffett is a clever fellow and his deals typically work on more than one level.

But if Mr Buffett and his buddies go their way, I’ll go mine. As far as I’m concerned, the people at Burger King can hold the pickle, the lettuce and anything else they care to slip between the halves of a bun. I am not buying any of it. That’s my way.

In making this declaration, I mean our friends in Canada no offence. From what I have read, Tim Hortons is a formidable operation in both the English and French senses of the term. So beloved is its pièce de résistance – a bite-size doughnut hole called the Timbit – that on the occasion of the fried doughball’s 35th birthday in 2011, the Toronto Sun proclaimed: “If laid end to end, the number of Timbits Canadians have consumed ... would stretch to the moon and back almost five times.” As Bob and Doug McKenzie might have put it: cosmic, eh?

I also realise that Burger King is hardly the only wannabe inverter in our midst. Roughly a score of US companies have announced mergers or acquisitions with tax inversion twists in the past three years, according to Dealogic.

The difference is that Burger King is less well placed to get away with this kind of behaviour than its all-too mobile predecessors. Most of them were pharmaceuticals companies whose products can mean the difference between the life and death of the user. It is hard to imagine anyone in their right mind rejecting the latest cancer drug or cholesterol medication because of the tax strategies of the manufacturer.
But American consumers don’t have to take whatever Burger King dishes out. The company needs our love – and it isn’t going to get any from me by leaving for the lower tax rates of the Great White North.
I can dine elsewhere. If the truth be told, my ardour for Burger King began to cool long ago. The time passed when I could eat a couple of Whoppers with cheese, wash them down with a sugary soda and squeeze into the same pair of jeans later in the same week. Fast-food outfits with fresher approaches arose to satisfy my cravings. The Whopper eventually came to figure in my calorie-counting middle age as the petite madeleine did during Marcel Proust’s celebrated moments of reflection. It only took one now and then to bring back the past. 
So, thanks for the memories, Burger King. It was good while it lasted. But the time has come for me to say goodbye.

India may remain the world's top rice exporter in 2013-14, thanks to a sharp rise in demand for Basmati rice from the US, Europe and West Asian countries and for non-Basmati rice from Africa and other Asian nations. India was the largest rice exporter last year as well.
According to commerce ministry data (April-November 2013), India has exported close to 7 million tonne (mt) of rice and is expected to ship more than 10.5 mt by the end of the current fiscal.
More than 2.3 mt of the aromatic and long-grained Basmati rice and 4.6 mt of non-Basmati rice was exported during the first eight months of the current fiscal.
"Demand for rice has been rising from all across the globe and we expect to reach a record level of exports by the end of the current fiscal,” a commerce ministry official told FE.
The exporters are targeting to achieve more than 10.5 mt of rice exports in 2013-14 while in the previous fiscal, the country shipped 10 mt of the key foodgrain.
Thailand and Vietnam are the other leading rice exporters and ship around 7 mt of rice annually.
Rice exports have been looking northwards ever since India lifted the ban
on non-Basmati rice shipments after four years in September 2011.
The commerce ministry data also indicate that last fiscal, rice exports fetched more than R33,800 crore while in April-November 2013, India earned more than R29,000 crore.
In 2012-13, the country earned more than R19,400 crore from Basmati rice exports while this year, Basmati export earnings have already crossed R17,530 crore.
“We will see a sharp rise in Basmati rice exports in the December-March period as demand has been rising sharply,” a leading rice exporter said.
Apart from Iran, other key destinations for Indian Basmati are Saudi Arabia, the UAE, Kuwait and Iraq. Non-Basmati rice is exported to mostly African countries, including Nigeria and Senegal, besides other Asian countries.

Oldest US motorcycle brand Indian launched in India

Polaris India, a wholly-owned subsidiary of US-based Polaris Industries, on Wednesday launched its iconic motorcycle brand ‘Indian’, priced between Rs 26.5 lakh and Rs 33 lakh (ex-showroom Delhi).
Indian, which is the oldest US motorcycle brand, will compete in India with the likes of Harley Davidson and the recently launched British superbike brand Triumph. “This launch holds great importance for us... Polaris India has ended the long wait for Indian motorcycle enthusiasts with this launch,” MD Pankaj Dubey said on Wednesday.
The products introduced in the country include the Indian Chief Classic (Rs 26.5 lakh), Indian Chief Vintage (Rs 29.5 lakh) and Indian Chieftain (Rs 33 lakh, all ex-showroom Delhi). When asked about the sales target for the bikes, Dubey said: “In 2012-2013 the market size for superbikes over 1,600 cc in the country stood at around 200 units. This year, we expect the market to grow by 40-50%. We are looking to have 10% market share of that.” The superbike maker has started taking orders for the three bikes and will start the delivery from March.”We are opening first dealership in Delhi. Later, we also plan to open one in Bangalore,” Dubey said. The company would be importing the three bikes as completely-built units into India from its lone manufacturing facility in the US. “The bikes would come as CBUs. At the moment, we don’t have any plan to assemble them here,” Dubey said, adding that the company would like to “position the Indian motorcycle brand above all superbikes available in the country”.

Indias first milke ATM










एटीएममधून आतापर्यंत आपण केवळ पैसे काढले आहेत. आता एटीएममधून दूध मिळणार.... तुम्हांला आश्चर्य वाटत असेल, पण हे खरं आहे. गुजरातच्या आणंदमध्ये अमूल डेअरीने एनी टाइम मिल्क (एटीएम) मशीन लावले आहे.

या एटीएममधून ३०० मिलीलीटरचा पाऊच तुम्हांला मिळू शकतो. यासाठी तुम्हांला १० रूपये द्यावे लागते. कंपनीच्या अधिकाऱ्यांनी सांगितले की, खेडा आणि आणंद जिल्ह्यात सुमारे ११०० मशीन लावण्याची योजना आहे. याच्या माध्यमातून जास्त जास्त लोकांना या योजनाचा फायदा घेता येणार आहे.

२४ तास चालणारे हे एटीएम खूप हिट होत आहे. अमूल डेअरीने असे आणखी एटीएम बसविण्याचा मानस केला आहे. त्यात फ्लेवर्ड मिल्क, चीज पॅकेट्स आणि चॉकलेट मिळणार आहेत.

Retail space supply in malls up by 78% in 2013

Retail space supply in shopping malls grew by 78 per cent during 2013 to 4.7 million square feet in seven major cities, with global players expanding their presence in the country, property consultant CBRE said.

"Despite ongoing uncertainty, retail real estate witnessed good activity during 2013 with a number of international brands entering and expanding across key cities," CBRE South Asia Chairman and Managing Director Anshuman Magazine said. He noted that this year is expected to remain positive for the retail sector, with existing brands being expected to ramp up operations and new brands look to making their India entries.

Although domestic retailers have been performing steadily, they face competition from global retail groups, especially in the apparel and food and beverage segments, Magazine said. "The total organized retail supply in 2013 stood at approximately 4.7 million sq ft, witnessing a strong y-o-y growth of about 78 per cent, over the total mall supply of 2.5 million sq ft in 2012," CBRE said in a report.

These seven cities are - Delhi NCR, Mumbai, Hyderabad, Bangalore, Kolkata, Pune and Chennai. Demand from international and domestic brands as well as retailers continued to strengthen throughout 2013 with the second half of the year witnessing an increase in demand for quality retail space in Delhi NCR, Pune and Chennai, according to CBRE's latest report 'India Retail Market View H2 2013'.

The demand from global retailers in the Delhi NCR and Mumbai markets remained buoyant as more retail groups sought space in prime shopping centres, as opposed to standalone high street outlets, the consultant observed.

"Most of the supply in 2013 was concentrated across Tier II cities; however 2014 is likely to witness supply addition in the key hubs of NCR and Mumbai," CBRE said. Prominent global players such as Starbucks, Krispy Kreme, Dunkin Donuts, Forever 21, Zara and Superdry expanded their presence across the country's leading cities. Retailers in the luxury and bridge-to-luxury segments were particularly active, with brands such as Brook Brothers, Missoni, Michael Kors and Emilo Pucci making inroads into the country's market places.

Rental values displayed mixed trends across the top cities during the second half of 2013.

While traditional high street markets such as Khan Market (Delhi) and Brigade Road, Commercial Street (Bangalore) witnessed an increase in rental values, the shopping hubs of Eastern Mumbai and South Bangalore observed a rental decline in H2 2013 compared to first half of the year.

Cities such as Hyderabad, Chennai and Kolkata largely witnessed stability in pricing across most micro-markets; while Pune saw an increase across its high streets, even as its mall rentals remained stable.

Suguna Foods enters masala market

Poultry and food products major Suguna Foods Ltd has entered the masala market by launching five varients of masala under the brand 'Mother's Delight', as a part of the company's strategy to focus on growth from its food business. It launched five variants of masala - Chicken Masala, Chicken 65 Masala, Chicken Lollipop Masala, Chili Chicken Masala and Egg curry Masala - and plans are to sell it through modern trade and neighbourhood stores in Southand its own chain of modern retail outlets under the brand Suguna Daily Fresh. These are priced at Rs 25 while a special variant is priced at Rs 30, it said.