The New Nation - Internet Edition

Money game in election

FUNCTIONARIES of the caretaker government said time and again that they are determined to make the parliamentary polls free from the influence of money and muscle power. Election rules were revised to that end. The per head spending by a candidate for a parliamentary election was fixed at Taka 15 lakh. But the media are full of news of the candidates spending money as they used to do before. The allegations are that the ceiling on election spending have been far exceeded in many cases.

The amounts are not remaining limited to paying canvassers and others. It has reportedly degenerated into vote buying spree. Potential voters are receiving money in exchange of promises to vote for candidates. The candidates are trying to eclipse each other in purchasing the loyalty of voters. Charges were also loudly made during the process of nominating candidates that powerful and influential coteries within the parties received big amounts underhand from nomination seekers. Even the names of some people who allegedly engaged themselves in such graft were printed in newspapers. But no action was taken against them by either the political parties or the Election Commission.

Thus, like on previous such national elections, the expectation for a cleaner election on December 29 might not be fulfilled. The experience might not be much better in the near future. The only difference being noticed this time is a realisation among a section of the people, many of whom might cast 'no' votes, that the parties of their choice have nominated candidates who, in their view, are not honest and competent. And this might, hopefully, have a moderating effect on the election results.

Invest more in agriculture

AS reported in the media recently, stakeholders in Bangladesh have made renewed emphasis on attaining self-sufficiency in food to shield the country from global price volatility. There is a consensus as reflected in development talks by major parties, that Bangladesh should embark on fresh measures to tap maximum potentials of agriculture and rural development. The recent food crisis and climate change concerns have prompted all concerned to suggest scaling up of research and development spending in agriculture sector to boost farm productivity.

The Washington-based International Food Policy Research Institute has come up with suggestions like increase in public investment in agricultural research in developing countries from US$ 4.6 billion to US$ 9.3 billion during the next five years (2008-2013). In the context of financial turmoil that followed worldwide food price hike, immediate attention be given to investing more in increasing food production and diversifying agriculture for which more financial and technical assistance would be needed at the international level. Bangladesh deserves global support in view of its exposure to climate change risks, for no fault of its own, and its effects on agriculture.

However, only US$ 1 billion has been disbursed so far from a US$12.3 billion fund pledged in June by governments, donors and multinational agencies at a global summit in Rome to help countries to overcome the world's worst food crisis. As 923 million people were seriously under-nourished in 2007, UN Food and Agriculture Organisation's chief Jacques Diouf expressed his worries about 'cuts in aid to agriculture' in developing countries. Also, the recent economic chaos has pulled the incomes of an additional 119 million people below the poverty line, the Oxfam aid group estimates. Efforts must thus be redoubled for self-sufficiency in food grains production.

Promises not kept

M. Mizanur Rahman

The War of Liberation was as short as nine-month's duration started from 25th March 1971 and ended on 16th December 1971 that prompted a nation to be free from a sort of colonial domination within a state of Pakistan having two wings (East and West) of multi-linguistic people with considerable economic disparity. This bloody war brings out the birth of a nation, called the Bangladeshi During the period of liberation of Bangladesh, non-Bengali Pakistani soldiers perpetrated inhuman torture indiscriminately upon the innocent Bengali-speaking people by killing and maiming them most. This was, however, widely and internationally known as genocide. About three million people of Bangladesh lost their lives that include men, women and children. Out of them about two lac Bengali women were raped by the occupation armed Pakistani soldiers. This horrible massacre and inhuman acts of rogues took place during the liberation period appeared to have been unprecedented in human history.

Since this sovereign state of the People's Republic of Bangladesh has been established, the people here are doing all sorts of business as the free citizens of an independent country with various trials and tribulations socially, economically and politically. This is the day of remembrance of our tragic past to build a happy future on the good beginning of the present. What we need most is a self-assuring dedicated leadership who would give the nation a corruption-free administration and patriotic zeal to drive the people to the path of progress. A self-seeking corrupted person can neither be a people's leader nor be a man of creative purpose to be of any use to society excepting national liability.

Let us realise the supreme sacrifice made by our people in the Liberation War not only to pave the way to our political independence but also to give us a good future prospect to become the most prosperous nation on earth. None of us has any right to betray that cause of our nation. Ours is a most resourceful country. We are to utilise our resources properly. These resources are to be explored to feed the nation. We are yet to be free from poverty, illiteracy, and ignorance. Our quest for knowledge on different dimensions requires to be geared up to that extent that need not depend on others for our national progress towards all sectors of development. We have enough unexplored barren fallow and arable land that had since been rising on river or seabed, can be used for rehabilitating landless people, for cultivation cropland to make the permanent food security, utilising a huge wind current to produce electricity (that costs less and earns more) and exploring gas and other mineral resources.

These, by and large, will be a great source of alleviation of poverty enriching our public exchequer.

We should assess our progress since independence and make a proper survey how far we walked on and how long it may take to achieve our goal. Without that sort of hopes and aspirations and honesty of purpose we can never reach the goal.

Only the balanced economic progress of each citizen of our country will ensure peaceful living condition in the society. Otherwise, frustration might crop up among the unemployed people who being misled would likely to turn to the act of terrorism or other crimes. The people's government must ensure educated youths' maximum employment or creating source of employment opportunity for each of them. The proper distribution of national wealth meant that. We must not forget the fundamental rights of the people to live. None can live alone. Let us realise it.

We must not forget the great sacrifice of our national leaders Bangabandhu Sheikh Mujibur Rahman and Shaheed President Ziaur Rahman rather pay them proper homage for whose pioneering leadership made the victory towards our independence possible and we rejoice that victory today.

We also cannot forget our allies India and Russia who came to our aid in need indeed in the War of Liberation with their power of men and materials that made the morale of the people so high to achieve the victory. Let us remember all of them who imbued us with moral and material support to win the Victory.

Manipur asks for CBI probe into journalist killing

Nava Thakuria

The journalists of Manipur in Northeast India have been assured of a high level probe against the killing of a fellow Meitei scribe. The Manipur government had lately decided to ask for a Central Bureau of Investigation probe to identify the killers of Konsam Rishikanta. A trainee sub-editor of The Imphal Free Press, an English daily of the State, Rishikanta, 22, was shot dead by miscreants in the State capital, Imphal on November 17.

The cabinet of Okram Ibobi Singh government had finally decided to hand over the case to CBI, as it was demanded by the agitating journalists. In fact, the entire media persons of the State under the banner of All Manipur Working Journalists' Union (AMWJU) took the path of agitation demanding justice. They even went for the strike for more than a week, when all local newspapers and television channels did not hit the stand and went out of air. "For full 11 days under the banner of AMWJU, the fraternity went on a cease work strike until finally the government relented and decided to hand over the case to the CBI, in a cabinet decision," reported The Imphal Free Press. Earlier the agitating journalists met the chief minister O. Ibobi Singh. Mentionable that, the trouble torn Manipur has lost five editor-journalists to miscreants' attack since 1993. They also took out a protest rally on November 26, where thousands join them demanding prompt actions against the culprits. The month of November also witnessed the killing of an Assamese scribe too. Jagajit Saikia, a correspondent for Amar Asom, a leading Assamese daily published from Guwahati. Shot at and killed in broad day light on November 22 at Kokrajhar, the head quarter of Bodoland Territorial (Autonomous District) Council in lower Assam. Jagajit, 30, left behind his wife, a minor daughter and his parents.

The media persons in Assam condemned the killings in strongest words and engaged national and international media bodies for pursuing the investigation and security for the working journalists in the region. More over, Assam journalists sent a memorandum to the Indian President Pratibha Devisingh Patil asking her intervention on the process. The memorandum revealed that at least 20 editor-journalists were killed in Assam during the last 17 years and surprisingly enough not a single perpetrator of these heinous crimes was booked under the law. The journalists' body also organised a massive protest rally on the premises of Guwahati Press Club on November 25, which was addressed by Kanaksen Deka (editor of Dainik Agradoot and President of Asom Sahitya Sabha), Ajit Kumar Bhuyan (editor of Asomiya Pratidin), Adip Kumar Phukan (editor of Edinar Sangbad), GL Agarwala (editor of Purbanchal Prahari and owner of Amar Asom), Prashanta Rajguru (executive editor of Amar Asom), Dileep Chandan (editor of Asom Bani), Hiten Mahanta (senior journalist) with many others. Soon after the meeting, which was presided over by Bhupen Bhattacharya (editor of Asomiya Purboday), hundreds scribes and other attendants joined in a procession to the office of the Deputy Commissioner of Kamrup (Metro) to hand over the memorandum to the President. But shockingly the DC did not come out to receive it, which annoyed the journalists and tempted to stage a brief demonstration in front his office. Later the memorandum, signed by the president Sanjib Phukan and secretary Prakash Mahanta of the organization, was sent directly to the office of the President.

The Editors Guild of India also expressed shock at the killing of scribes in Manipur and Assam and appealed the Indian Prime Minister Manmohan Singh 'to take personal interest in the situation' and if necessary, order a CBI investigation into the murder of journalists. The national forum of editors in a statement said, "The Editors Guild has noted with increasing dismay the spate of violent incidents involving journalists in the north-east and has brought this to the notice of the union home ministry. We hope that concerted action will be taken to ensure the safety and security of journalists." The Guild president, Rajdeep Sardesai later personally met the Prime Minister to apprise him about the situation in Northeast. Rajdeep, also the editor-in-chief of CNN-IBN, while talking to this writer, informed that Prime Minister Singh expressed concern over the recent killings of journalists and asked both the chief ministers of Assam and Manipur for prompt investigation into the incidents. He also recommended for adequate measures to ensure the security and safety of all journalists and newsmen in the region, Rajdeep added. The Paris based media rights body, Reporters Without Borders too expressed shock at the assassination and asked 'the authorities in New Delhi to order the Central Bureau of Investigation to carry out an exhaustive investigation to determine the motives and arrest those responsible'. The rights body also argued that the security situation is very worrying in the Northeast and it can not be acceptable that journalists should be made to pay for refusing to relay propaganda for the different parties to a conflict. This latest murder must not go unpunished, it asserted.

Similarly the New York based Committee to Protect Journalists mourned the loss of Jagajit. The CPJ's Asia Program Coordinator Bob Dietz, while raising voice for 'thoroughly and transparently' investigating Jagajit's killing, also added, "Local governments in India's northeast should make journalists' security a priority to enable publication of essential news about local conflicts."

"It has been a grim year for journalists across the world. So far in 2008, at least 36 journalists have been murdered and another 17 are missing or unconfirmed as to whether they died on the job. Across Asia, two each were killed in Thailand, Afghanistan, the Philippines, Sri Lanka, four in Pakistan and at least three in India," CPJ reported.

International Federation of Journalists, Journalists' Forum, Assam, All Assam Photo Journalists Association, Assam Press Correspondents' Union, North East Media Forum, a body of New Delhi-based Northeastern journalists with a number of journalists organizations, eastern India based press club bodies namely Kolkata Press Club, Sikkim Press Club, Manipur Press Club, Agartala Press Club, Shillong Press Club, Itanagar Press Club with student organizations, civil society groups and various political parties also condemned the killing and demanded punishments to the perpetrators.

Finding himself in an awkward position, the Assam chief minister (also in charge of State Home portfolio) Tarun Gogoi announced an ex-gratia grant of Rupees three hundred thousand for the family of Jagajit after three days of the incident. Gogoi also assured that the government would take the responsibility of Jagajit´s daughter. The chief minister also declared that the culprits would be arrested and appropriate punishment would be given to them.

(The writer is a senior journalist based in Guwahati, Assam, India)

American CEOs take the most money

Ripan Kumar Biswas

Though President-elect Barack Obama praised the Bush's administration to grant an emergency bailout that offered $17.4 billion to the ailing U.S. auto industry on Friday, December 19, 2008, but warned the auto industry not to squander the grant to reform the bad management practices rather adopting long-term restructuring plans to become viable companies.

According to the grant, GM (General Motors Inc.) would get $9.4 billion and Chrysler $4 billion this month and additional $4 billion will be available in the next February while Ford Motor Co. has said it does not need immediate help. Democrats voiced support for Bush's action, while many of his fellow Republican including Sen. John McCain (R-AZ), who lost to Obama in the 2008 presidential contest, denounced his decision. "We cannot use the American taxpayers' money as we're not receiving any serious concessions from the auto industry," he said. To prevent a deeper economic recession, Bush was in favor of the auto bailout. "It's the time to make hard decisions to become viable as the U.S. economy is too fragile now to allow the big automakers to go bankrupt and throw thousands out of work."

He imposed several conditions include requiring the automakers to reach agreements for restructuring by March 31, with an interim report in mid-February, companies' workers should agree to wage and work rules that are competitive with foreign automakers by the end of next year, and elimination of "jobs bank" program - negotiated by the United Auto Workers and the companies - under which laid-off workers receive unemployment benefits and supplemental pay from their companies for 48 weeks. But the most important and noticeable condition is that the automakers will be required to agree to limits on executive pay and eliminate some perks such as corporate jets.

Earlier on Wednesday, November 19, 2008, some US lawmakers criticized the CEOs of big three auto companies Alan Mulally of Ford, Robert Nardelli of Chrysler and Richard Wagoner of GM for flying private jets to Washington to request taxpayer bailout money which unseemly to be running around on a $20,000 flight versus a $500 round trip between Detroit, Michigan, and Washington.

CEO's pay packages consist of base salary, bonuses, and awards of stock and options with other compensation like travel on the corporate jets, paid vacations or the compensation for security reasons. Nobody has any problem with CEOs earning more than the normal employees, but should it be like millions of dollars each year as thousands of normal employees are getting red and pink slips everyday during this recession worldwide?

According to the Business Week, the average CEO of a major corporation made 42 times the average hourly worker's pay in 1980. By 1990 that had almost doubled to 85 times. In 2000, the average CEO salary reached an unbelievable 531 times that of the average hourly worker. Many CEOs in corporate America were well paid last year. A survey of 350 publicly traded U.S. companies shows CEO pay increased nearly 9 percent in 2006. So the question is now in the capital market, why the CEOs are being paid too much? Is it pay for performance as they bring financial success to their company or the businesses are becoming more complex day bay day and such huge awards motivate them to take extra challenge?

But the composition of a CEO's pay package has nothing to do with his future performance and the CEO may not make all that much of a difference in whether the company is a success or a failure. There is couple of reasons of their high remuneration and they are not related to their performance as it is commonly understood in the general public. The first and major reason for large performance payments is to induce them to take greater risks as very often CEOs take major decision to put their reputation, their sizeable income, and often a sizeable investment in the firm at stake.

The second reason for major payments to CEOs is that these deals are necessary to induce the executives to take on the role. The third reason is that the CEOs are paid a lot is a combination of signal and ego. The people who make it to the top of large commercial enterprises are generally highly competitive and often have a large ego.

None of the above reasons that CEOs are paid such large sums has anything to do with motivating them to working harder and smarter. It is not the money that drives the behavior. Citigroup CEO Vikram Pandit faced much of the blame for the bank's falling share price as he didn't sold off enough under-performing units, didn't cut costs enough, and didn't articulate a strategy for where the company plans to make its money over the next several years. While he fired a large numbers of employee and thousands are expected to pack up their desks in an attempt to keep his job, his total earnings from Citigroup add up to $216 million since he joined there in December 11, 2007. Pandit was given a sign-on grant of stock and performance-based options worth more than $48 million in January, 2008.

Although members of Merrill's compensation committee agreed with John Thain, CEO of Merrill Lynch & Co , which is now a part of Bank of America, that the takeover is in shareholders' best interest, but it would be foolish to ignore strong public sentiment against large compensation packages to any of its executives. Thain suggested to the directors that he deserved a 2008 bonus of as much as $10 million because he helped avert what could have been a much larger crisis at the firm. However, Thain was paid $17 million in salary, bonuses, and stock options in 2007 look like a bargain.

Observers of the financial meltdown over approx. the last 12 months would say that John Thain was one of the few of these guys to have the "spheres" to proactively make a monumentally difficult decision seemingly in the blink of an eye.

"It is only fair that top executives, who benefit the most when firms do well, should also bear the burden of the difficult economic consequences their firms now face," New York Attorney General Andrew Cuomo suggested to limit the executives' pay packages in reaction to the AIG's (American International Group) decision to its CEO's and top executives' pay packages. Chairman and CEO Edward M Liddy will receive a salary of $1 for 2008 and 2009 and there will be no 2008 annual bonuses nor salary increases through 2009 for its top seven officers as a part of its voluntary restrictions on executive compensation. In addition, 50 of its next-highest executives will not be receiving salary increases or bonuses through 2009. But its previous CEO Martin Sullivan (53), who had worked at AIG since he was 17, had received compensation last year of $13.9 million. AIG has received $150 billion so far in government funds as its capital position continued to deteriorate amid the financial market turbulence.