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Showing posts with the label Companies

The Anatomy of a Fraud :Inside "Wirecard's" Multi-Billion Dollar Accounting Scandal

| Photo: Wirecard Signage at one of its Office, Reuters | Wirecard AG, once a national pride of Germany and its answer to the giant US tech Companies has lost nearly 85 per cent of its market value and filed for insolvency being unable to pay off its debts just days after it was revealed that it had a $ 2 billion  hole in its balance sheet. The cash was supposed to be held at two Asian Banks, though Wirecard has admitted recently that the missing billions may not even exist. This scandal has shuddered its investors and its credit rating has been withdrawn by Moody's.  The Wholistic View encapsulates this sensational fraud which has been termed as one of the worst financial disasters in Europe since the financial crisis of 2008.  (7 Min Read). For the last year or so, Financial Times(FT) Journalist Dan McCrum has been constantly reporting that German Fintech Company Wirecard was faking some of its revenue. Wirecard, on the other hand, had been fighting back aggressiv...

The Journey of a Shoe Dog : How Nike became a Global Powerhouse?

| Photo:   Nike Store, Atlantic City(USA)| Just Do IT. A phrase that transcends the linguistic boundaries across the globe and sparks emotions. The Iconic Swoosh logo which ensnared into your consciousness well before you knew it. Chances are, you have a pair of Nike Shoes in your closet right now. So, How did a mere shoe distributor become the most popular and biggest sports brand on the planet?  The Wholistic View deconstructs the brand you know but the story you don't  (8 min read). The Idea In the summer of 1962, a 24-year-old young man named Phil Knight graduated from Standford University. A former long-distance runner in his University days, Phil had written a postulate titled " Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras? ".Phil had been in awe of how the Japanese Cameras have replaced the earlier dominant German Cameras and he was curious if the Japanese shoes would have the same effect on the existing German Pla...

How an Indian Monk created a Mega Corp?

 | Photo:   Adnan Abidi/Reuters|       Many call him a "Yoga Guru", while some loathe him for being just another "Capitalist".Known to Every Indian but barely recognized outside the Country, The Wholistic View  dissects the story of Swami Ramdev who is giving the likes of Unilever and P&G a run for their money ( 6 min. read ) Not too long ago he may have been the most televised person in the world. In 2016, he featured for an average at least 19 and a half hours a day on Indian TV Channels. He abjured possessions and renounced the material world but today he can be found in the most material of places. Switch on an Indian TV, there's Swami Ramdev demonstrating his signature belly roll, flip the channel and there's the Baba selling dish soaps and shampoos. Roam around any City in India and you will find this saffron-clad yogi's face in stores selling the products of Patanjali Ayurveda Limited, the multi-billion dollar FMCG Corporation he controls, l...