Saturday, August 4, 2012

Most Absurd Games.....


Buzkashi:
Buzkashi is the Afghan national sport. It is also a popular sport among the south Central Asians such as the Uzbeks, Hazaras, Tajiks, Kyrgyz, Kazakhs, Turkmens and Pashtuns. The Turkic name of the game is Kökbörü; Kök = "blue", börü = "wolf", denoting the grey wolf—the holy symbol of the Turkic people. Other Turkic names of the game are Ulak Tartish, Kuk Pari, Kök Berü, and Ulak Tyrtysh. Kökbörü is the most popular national sport of Kyrgyzstan. In the West, the game (Turkish: Cirit) is also played by Kyrgyz Turks who migrated to Ulupamir village in the Van district of Turkey from the Pamir region. Buzkashi is often compared to polo. Both games are played between people on horseback, both involve propelling an object toward a goal, and both get fairly rough. However, polo is played with a ball, and buzkashi is played with a headless goat carcass. Polo matches are played for fixed periods totaling about an hour; traditional Buzkashi may continue for days, but in its more regulated tournament version also has a limited match time.

Sepak takraw:
Sepak takraw or kick volleyball, is a sport native to the Malay-Thai Peninsula. Sepak takraw differs from the similar sport of volleyball in its use of a rattan ball and only allowing players to use their feet, knee, chest and head to touch the ball. It is a popular sport in Southeast Asia. In Malaysia, the game is called sepak raga or "takraw". It is also thuck thay (Lao: "twine" and "kick") while in Thailand it is sometimes called takraw. In Myanmar it is known as chin lone. In the Philippines, besides "takraw" it is also known as sipa, meaning "kick". Similar games include footbag net, footvolley, football tennis, bossaball, jianzi and sipa. These similar games all involve keepie uppies.

Runs cheese:
Horseback cheese - interesting sport championships are held annually on it in England, where the tradition for two hundred years. This is one of the strangest sports today. The essence of the game - is simple: the players run down the hill down to the head sliding down the cheese. Whoever he reaches the finish line first gets a prize that same head cheese. Competitions are usually held at the Cooper Hill, which is not quite normal hill. It is so steep and uneven, that if you start to run on it, no turning back. Each year participants "marathon" is a lot of injuries, and this could be a concussion, sprains, broken ribs, noses, feet, and many others injured. And yet it does not stop bored Brits to participate in this competition every year.

The Marathon "Man Against Horse":
This marathon - an unusual sporting event which is held annually in June in the town Lanurtid Uels in Wales. The game is quite simple: to overpower a running 22 miles (35 kilometers) and reach the finish line faster than anyone else. By means other people are riding. Runners have to overcome all the way near the real horses. If you have forgotten, horses are one of the fastest land animal planet. To cope with this task, you must be not only fast but also very sturdy. In 2004, the "man-lump" on the name Hav Lobby was able to reach the finish line in 2 hours and 5 minutes. It was the first person to win in these competitions. As he succeeded, remains a mystery.

Scuba diving on a bicycle:
This is an unusual sport came with two eccentrics who seem to have touched something valiyskogo ale and come up with such an unusual sport game. Diving championships on bikes traditionally held every year on July 10. The aim of the game is simple: players wear fins, masks and snorkels, sit on the special bikes and recovering at the bottom of the pond from start to finish. This pond is about 2 meters depth and at length reaches about 50 meters. He who overcomes it all the more quickly the pond, wins. Reaching the finish line is not so simple as a pond filled with algae, mud, and it inhabited by various creatures, including leeches. Moreover, it is likely that you can swallow the dirty water.

Drag and wives:
If you think that scuba diving on a bicycle in a swamp - a strange sports game, what do you think about sports dragging wives? This sporting event takes place every year in October in Finland and the United States. Believe it or not, but say that this sport came after a group of thieves began stealing other people's wives of unsuspecting husbands. Game rules are simple: competitors must run in the distillation, carrying a woman on the back (preferably his own wife). Those who manage to reach the finish line first, wins. In fact, dragged his wife in three ways: when a man throws a woman just over her shoulder, she clings to him or behind him, or he carries it in front of him in her arms. Participants should not just run, but also to overcome obstacles - a pond to swim, jump over fences, walk across the sand and so on.

Chessboxing:
Chessboxing - a new sport, but everything is new - it is well forgotten old, though perhaps not entirely forgotten. This hybrid, which is a mixture of two completely different sports - chess and boxing. That is, competitors must be able to play good chess, and at the same time great boxing. It begins with what people are playing chess for 4 minutes. During this round, participants put on headphones, so they do not hear the cries of the spectators and commentators voice. After a round of chess it is time to go into the ring and 3 minutes to defend his honor in boxing. Rounds up to follow each other until someone wins. Participants can win if you put the checkmate the opponent, or sent to a knockout. If this happens, the judge announces the winner, according to the scoring.

Bossaball:
Bossaball also very similar to volleyball. It is played on a court that is divided into a grid, and it involved two teams with many players. However, in contrast to the volleyball court, instead of a solid field of participants to move around inflatable trampoline. This coating allows players to jump very high to catch the ball or score. As sepak TACRO, this kind of volleyball is also very fun sport that requires acrobatic skills.

A blind football:
This football is usually played by blind people or those who have serious vision problems. To keep things fair, those who saw anything should wear bandages over his eyes. In this game, players use a special kind of ball that does not jump, it is much heavier weight than regular football. It also produces the sound of the ball, so players can see where he is. During the game, participants can call the names of the members of his team, or a loud scream. In this case, the parties should focus on the fine and be able to clearly distinguish between the voices of his teammates.

Keeping a ferret in the pants:
This unusual sport appeared in England. During the game, male participants have to put two ferrets living in my pants, then tie legs at the ankles and tighten the straps so that ferrets could not get out. Also, the competitors can not wear underwear. The winner is the one who can longest keep a ferret in the pants. Feelings should not be a pleasant one.


Tuesday, July 31, 2012

What's at stake for Vijay Mallya if Kingfisher fails?


ANALYSIS:

If Vijay Mallya's Kingfisher Airlines fails, lenders owed $1.4 billion may end up with a small stake in his spirits business, a modest office building, the carrier's brand, and not a lot else. Here's an analysis of the liquor baron's assets and liabilities.

If liquor baron Vijay Mallya's Kingfisher Airlines fails, lenders owed $1.4 billion may end up with a small stake in his spirits business, a modest office building, the carrier's brand, and not a lot else.
A $16 million beachfront villa in Goa (pictured left), where Mallya throws parties and shoots his Kingfisher swimsuit calendar, is owned by his UB Holdings Ltd (UBHL) and pledged as collateral to State Bank of India, Kingfisher's lead bank. But Mallya's UB Group wants to swap the villa for another asset and says it has the right to do so. SBI is resisting.
Through interviews with bankers, lawyers, and others in the financial industry, as well as information provided by the company and publicly available data, pieced together what parts of Mallya's empire are at risk if Kingfisher falls.


The airline was launched seven years ago by Mallya, who is known as the "King of Good Times" for his flamboyant lifestyle and often referred to as India's Richard Branson.
While Kingfisher has never made a profit, it grew quickly to become India's No.2 airline by domestic market share. It has since been knocked back to sixth, crippled by high debt and fierce competition.
Banks have guarantees of more than $1.2 billion from Mallya and his holding company, but collecting on them could prove difficult, and most of Mallya's lenders, mainly state banks, would pursue that only as a last resort, people familiar with the matter said.
No shares or other assets were directly pledged to banks against specific loans, according to Kingfisher.


"There is no security to fall back upon," said Sharad Bhatia, CEO of Phoenix Asset Reconstruction Co, a distressed debt investor backed by Kotak Mahindra Bank that does not have exposure to Kingfisher but is familiar with the matter.
"Ultimately, banks will have to take a haircut," he said.
After cancelling thousands of flights late last year, cash-strapped Kingfisher has grounded most of its fleet and is desperately awaiting a rule change to allow investments by foreign airlines, although none has publicly expressed interest.
Mallya's UB Group includes Kingfisher, United Breweries, United Spirits Ltd and UB Holdings.


Kingfisher's woes have prompted speculation that British rival Diageo will make a play for United Spirits while Heineken goes after United Breweries.
United Breweries, Mallya's crown jewel, does not have direct exposure to the airline or its creditors.
If the politically powerful Mallya were forced to sell some of his shares in the maker of Kingfisher beer, he could remain in the controlling shareholder group alongside Heineken, which has an equal stake, given the value he brings in a heavily regulated Indian alcohol industry.


United Spirits, the other big listed company in Mallya's stable, could also be hard for Kingfisher's creditors to prise away against his will. Of Mallya's 28 percent of United Spirits, the world's biggest liquor maker by volume, part of the 18 percent held by holding company UBHL is pledged to lenders that funded its $1.2 billion 2007 acquisition of Scottish spirits maker Whyte and Mackay.
The UB Group says it does not see a risk to Mallya's empire.
"Since there are no shares pledged except the 4 percent of USL (United Spirits) there is no risk of Vijay Mallya losing control over any listed company," Prakash Mirpuri, a group spokesman told.




Banks are putting pressure on Mallya by moving to sell the Bombay House office building near Mumbai's airport, worth roughly $9 million, and the villa.
The Kingfisher Airlines brand was valued at 41 billion rupees in 2010 and is now worth 25 billion rupees, one lender said. It is worth less to anyone other than Mallya, 57, who named the carrier after his flagship beer in a country that bans alcohol advertising.
"Selling off a brand, valuing it, is not an exercise that has happened before so we want to start with something that we understand first," said a senior executive with one of Kingfisher's lenders. "We have already started the process of liquidating the securities, the tangible ones - Goa villa and Bombay House. That will begin to hurt Mallya," he said.
UBHL has guarantees of more than 67 billion rupees to banks and about 22 billion rupees to aircraft lessors on behalf of Kingfisher, according to a note by UBHL's auditors in May, but the true value of those guarantees is difficult to ascertain. Unlike collateral, guarantees are not tied to specific assets.


Mallya, who also owns a cricket franchise and last year sold a 42.5 percent stake in his Formula One racing team to India's Sahara group, has given a $50 million personal guarantee.
"Corporate guarantees and personal guarantees are difficult to enforce," said P. Rudran, CEO of Asset Reconstruction Co (India) Ltd, a distressed debt investor backed by banks including SBI and ICICI Bank.
"When we do our valuation, we practically don't give much value to guarantees unless it is a government guarantee."
Until February, Kingfisher was a subsidiary of UBHL, a holding company controlled by Mallya and described as "the central piece that holds it all together" on the cover of its annual report for the financial year that ended in March 2011.


The airline stopped being a subsidiary when part of Kingfisher's debt was converted into shares.
"Nobody can assume that UBHL will automatically be called upon to pay 100 percent of KFA's debts. There are procedures to be followed to establish the net amount if the need arises. Besides UBHL has several counter claims against KFA suppliers," group spokesman Mirpuri said.
UBHL has a market value of just under $100 million and had liabilities of about $2.58 billion, more than three times its assets, according to Thomson Reuters data as of March 31, 2011, when its biggest asset was Kingfisher, which is worth less now.
"Invoking guarantees is not a simple process that you invoke today and you get a cheque tomorrow. It's a long process - a year or forever. You never know," said a source familiar with the matter, declining to be identified given the sensitivity.


Diageo held talks that collapsed in May 2009 to buy a minority stake in United Spirits, and typically invests in businesses that it can eventually control.
Heineken is engaged in a takeover battle for Singapore's Asia Pacific Breweries. Sources said in March that Mallya was considering selling part of his stake in United Breweries to Heineken.
Neither Diageo nor Heineken is currently in talks with the UB Group, according to people familiar with the matter.
Both Diageo and Heineken declined to comment.


"UBHL has no plans to sell its holdings in UBL (United Breweries) and USL (United Spirits)," Mirpuri said.
Mallya and Heineken each own 37.5 percent of United Breweries. If Kingfisher's banks called in UBHL's guarantee, UBHL may be forced to sell its 11.5 percent of United Breweries. That would still leave Mallya with 26 percent, a board seat and a say in management decisions, unless Heineken tried to force him out, something it appears unlikely to do.


"Dr Vijay Mallya provides significant added value as an ambassador for the industry's interests and is a member of Indian parliament," Heineken said in a December presentation.
The Mallya team's view is unequivocal.
"There is no question of Heineken acquiring any additional stakes in UBL," Mirpuri said.


Kingfisher's lenders are mostly state banks, and many frustrated bankers appear resigned to recovering as little as $25-$30 million, at least in the near term.
India does not have a formal bankruptcy process. Instead, banks typically extend more credit to tide big customers like Mallya through tough times. It is rare for Indian banks, especially state lenders, to force a liquidation, and rarer still for a big Indian company like Kingfisher to collapse.
"Indian banks don't pull the plug. I think that's really sort of the bottom line here, unless they're really pushed to do," said Ashwin Ramanathan, a partner at law firm AZB & Partners in Mumbai.


Kingfisher Airlines cabin attendants serve snacks on a flight after takeoff from Mumbai's domestic airport.