From ragpicker to speaker in Geneva conference

June 17, 2015

Suman More's life has been a rags-to-recognition journey. As an illiterate, impoverished ragpicker from Pune, the 50-year-old could never have imagined that she would one day be the centre of attention at a conference held all the way in Geneva by the International Labour Organisation. Just the past fortnight, over 2,000 experts from all over the world listened enthralled, as she spoke about her work and the challenges she, and many like her, faced in finding acceptance and a voice in society.

“I thought it was just us ragpickers who were not treated properly, but during the conference, I learnt about many other people – like hairstylists and weavers – who were also struggling to find their voice,” said Suman, who has spent the past 37 years collecting and sorting waste.

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“There were more than 2,000 people from across the world and I was the only one in a sari. The most difficult issue was sitting in the air conditioned room, as I am not used to it. But I managed. Everyone appreciated me and the Indian culture, and the next day, they even tried on my saris,” she added.

At the 104th session of the International Labour Conference held from June 1 to 13, Suman was one of the esteemed speakers, invited to speak about her work to an elite gathering of experts and leaders from around the world. This is starkly different from the past, when she could not even find a job as a cleaner or labourer because of her caste and was harassed for being a ragpicker.

Suman hails from Kalamb village in Usmanabad district, where her parents would work in farms for daily wages. When a drought hit the village, however, jobs began drying up and Suman and her family moved to Pune in search of work. Her husband was from the potraj community (a tribe of nomads) and would barely gather enough alms to provide one meal a day. Suman was refused jobs on account of her caste and eventually began picking up waste like iron rods and other scrap material to eke out a living. After collecting scrap for nine hours, she would make barely R30-40 a day, far short of what was needed to keep a family of six afloat.

ragpicker2

“I came to Pune so we could beat the hunger we had experienced in our village. But it was hard; we couldn't find jobs because of out caste, so I started collecting waste. Later, I realised that if the scrap is segregated properly, it can fetch a better price,” Suman recalled.

Years later, this same lesson would come into play when ragpickers joined hands with the local municipality to manage the city's waste. Instead of the corporation collecting and moving the garbage to waste management centres, ragpickers from across the city do the task both faster and more economically. Since this tie-up, life has become smoother for waste collectors who faced great harassment from citizens and the police in the early days.

“While picking up the waste, many a time people use to complain or call us thieves and we were dragged to the police station for no reason. Many a time, the police used to humiliate us as well,” said Suman, adding that things began to improve after activists set up the organisation Kagad, Kach, Patra, Kashtakari Panchayat (KKPKP) to fight for ragpickers' rights. Where wastepickers would earn about R20-40 a day in the past, they now earn R5,000 a month, are accorded more respect and are even provided with identity cards to help them do their jobs with dignity.

Suman wanted to ensure her children never had to meet the same fate, and scrimped and saved to put her kids through school.

“I was illiterate but I did not want my children to have a similar life, so I worked day and night and we skipped one meal a day to make sure they went to school,” she said, proudly adding that of her four kids, one is a journalist with a double Masters degree, another is a graduate preparing for the civil services exams, a third son is a Bcom student, while her daughter is married.

Although her children are now doing well and the family even owns an apartment in Pune, they continue to live in Suman's old home in Gultekdi, a shanty that has now been converted to a brick-and-mortar two-room house.

'Proud of her'

Suman's daughter-in-law Shweta, who teaches at a Pune college, said, “We all tell Aai (Suman) not to work as we are earning well, but she tells us her work gives her joy. All her salary is used to support the education for underprivileged kids in the slum areas, and she personally visits them to ensure they go to school. I am proud of her.”

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
August 2,2020

New Delhi, Aug 2: The National Commission for Women (NCW) has issued notice to some Bollywood celebrities named in a complaint against the promoter of a company for allegedly blackmailing and sexually assaulting a number of girls on the pretext of giving them a career in modelling.

Taking cognizance of the complaint filed by social activist Yogita Bhayana of People Against Rape in India (PARI), the NCW scheduled a virtual hearing presided by its chairperson on August 6.

The complaint against Sunny Verma, promoter of a company named IMG Ventures with its headquarter in Chandigarh, alleged that he has been blackmailing and sexually assaulting a number of girls on the pretext of giving them career in modelling.

PARI's Yogita Bhayana wrote a complaint letter to NCW chairperson Rekha Sharma.

"Through his company, he (Sunny Verma) invites the girls on the pretext of organising a Miss Asia contest with a claim that the contest will launch them as models. To make it look genuine, his company has also been taking an entry fee of Rs 2,950. Once the girls apply, they are alluded by the female accomplices of Sunny Verma to submit their nude pictures in order to get the better ranking in the contest," the complaint letter said on July 31.

It alleged that Verma, after receiving the pictures and sometimes even before, used to get in touch with the girls and ask for completely nude pictures and videos.

The complaint letter said that Verma also used to allude as well as threaten the girls to submit to his sexual desires if they were interested in modelling as a career or wish to win the contest.

"Once he established a physical relationship with the girls, he used to blackmail them for regular sexual favours. Many girls from across the country have suffered a sexual and mental assault from Sunny and his accomplices," said the complaint citing several letters, texts and audio clips from several girls as proof of this modus operandi of Sunny Verma and his company.

The complaint also said that Sunny Verma has been previously also arrested on charges of sexual assault.

"We would demand that NCW should investigate the case to its depth and get the guilty punished so that any other person should not dare to exploit these kinds of innocent girls on any pretext. It will be a message to people like Sunny Verma and all associated Bollywood stars. Looking forward to strict action from NCW against sexual offenders like Sunny Verma & others," the complaint said.

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Agencies
March 12,2020

Thiruvananthapuram, Mar 12: In the wake of COVID-19 outbreak, Internet service providers in Kerala have agreed to step up the network capacity by 30 to 40 per cent of the present capacity to meet the demand, especially in view of the spurt in work-at-home mode.

"The decision was made at a meeting of representatives of various telecom service providers in Kerala circle and officials of the Telecommunication Department convened by the Secretary, Electronics and IT, following a direction by Chief Minister Pinarayi Vijayan to look into the issue," said a press release by the IT Department.

The decision will be beneficial for those working in IT institutions. The government has come out with a set of suggestions to avoid social gatherings at public places in view of coronavirus spread. Telecom service providers have assured the government that they are well equipped to face the current situation.

The major part of Internet consumption in Kerala is made available through local servers. Moreover, global Internet traffic is very low as compared to the overall consumption. So, increasing the capacity won't be difficult, service providers informed.

"Complaints regarding the low availability of the Internet due to the spurt in consumption of the Internet can be made to the service providers to their complaint redressal number or inform state government call centre (155300). But complaints regarding the insufficiency in the current network infrastructure should be strictly avoided," said the release.

The IT Department will also demand daily reports from various telecom service providers. By analysing these reports, steps for remedies will be taken after bringing the sudden increase in consumption to the service providers.

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