Ascent Inc.’s Post

I was recently chatting with someone who retired from SAIL, and he talked about how BCG was hired to optimize costs and orchestrate a turnaround. It backfired in a funny way. In private companies, consultants’ favourite recommendation to improve profitability is to layoff people by truckloads. But they don’t have that luxury with government organizations and PSUs where job security is a given. So at SAIL, when BCG was asked to turn its fortunes around, they recommended VRS as the solution. You can’t fire, so incentivize employees to take voluntary retirement. People did retire, but not the ones they’d hoped would. Companies with unlimited job security are often run by a few hardworking officers and countless freeloaders. When the VRS option was floated, the honest ones decided enough is enough and took it up. But the freeloaders were already chilling and had no reason to retire. As a result, the senior group was primarily left with people who had never worked hard. I don’t know how much truth there is in this story, but if you look at SAIL’s performance over the last decade or so, it’s still waiting for a turnaround.

This is a realy funny story about how consultants sometimes give disastrous recommendations. Reminds me of my experience with BCG during my stint at IDFC. We had hired BCG to review our portfolio of assets in one of the sectors. After months of analysis they said everything was fine. They also strongly recommended we give loan to a specific company (don't have the luxury to name the company), which in their opinion was doing pioneering work in that sector. 2 years later, the only NPA we had in that specific sector was the company recommended by BCG. Fortunately it was a relatively small exposure of around 200 crores in our overall sectoral portfolio of approx. 15,000 crore. Lesson learnt: Consultants don't know credit analysis, banks can't take their opinions on face value.

#ThreeYears at Fly Finance🥂 Time flies! It's hard to believe that it's already been 3 years since I joined Fly Finance. All this while, I’ve had my fair share of high, lows, and a lot of 'What am I doing?' moments. 🙃 From the rush of solving complex problems to the brain-bending challenges that left me staring at my screen wondering if green tea was really the answer (spoiler: it wasn’t always), this journey has been full of ups and downs. But I say this proudly that each day has been a lesson, sometimes hard-earned, but always valuable. Having said that, Cheers to: 🥂The countless meetings, and many brainstorming sessions (shoutout to the whiteboard and excel :p) 🥂 The "Did I just learn something new?" moments. 🥂The days when everything clicked, and the days when it felt like we were building bridges without foundations. Through it all, Fly Finance has been a place where I’ve grown both professionally and personally. It’s a privilege to work alongside Rachit Juneja and Satyam Singh who are always ready to tackle the next challenge and helped me to grow as individual. A big thanks to my incredible team who were a part of my 3 years journey - current & ex #Flymates So, here's to the upcoming years... and whatever other plot twists come our way. ✨ #Anniversary #3Years #Growth #Challenges #TeamFly #Finance #Grateful #LessonsLearned

Success isn’t served on a silver platter. 🌞 It’s 90°F, soon to be 100°F, and we’re out here making it happen, one step at a time, one goal at a time. Early mornings, relentless effort, and a no-excuses mindset fuel this journey. 💪 Success isn’t luck; it’s built with grit, perseverance, and sweat. Let’s hustle, because dreams don’t work unless we do! 🚀🔥 And remember to follow me for more content like this! #propertymanagement #airbnbhost #vacationrentals #shorttermrentals #vacationrentalbyowner #airbnbsuperhost

🎉 Happy New Year! I'm working today. I’ve worked through this year - Christmas Day was my only day off. It’s been an interesting shift, and a bit different from the last few years. December is always one of our busiest months at Wellington Cable Car Limited with over 90k passenger trips. January will be busier.... 🧑🧑🧒🧒 - Normally, I’d be on leave and still checking emails, thinking about everything going on - it is our busiest time and I am a top Cable Car fan. But this time? I’m just working. And surprisingly, I feel more in control. I have a better understanding of the operations, and they are running with precision! - Having me on-site means we can adapt faster, make roster adjustments on the fly, and scale up or down as needed. - It’s rained nearly every day. Not ideal for visitation or cruise ships coming into port, but honestly? It makes me feel better about being at work. I know my time off is coming. And it’s made me more excited than ever. I’ll be able to switch off knowing the operations have been set up for success. There is so many unknowns as we enter each year. But right now? Working through feels like a good decision. #Leadership #Operations #WellingtonCableCar #Tourism #BusinessLeadership #WorkLifeBalance

🎄 Only 132 Days Until Christmas! 🎄   Can you believe we’re already past the halfway point of 2024? Time really does fly when you’re achieving big things! This year at AVALES has been nothing short of remarkable, with milestones that have pushed us, challenges that have shaped us, and growth that’s driven us forward.   Let’s take a quick spin through what we’ve been up to: We kicked off the year with a bang. January saw us shattering records with our calendars filled to the fullest. Talk about starting on a high note! Our team hit the ground running, diving headfirst into a wave of high-demand projects. The pressure was on, but we didn’t just handle it — we thrived.   As we moved into spring, we didn’t just bloom — we expanded. March was all about growth as we welcomed Bianca Marty to our leadership team, steering AVALES toward even greater success. And we didn’t stop there. We were thrilled to bring Nathalie Tanner on board, setting the stage for some exciting expansions into new markets. But more on that soon…   April and May weren’t just about working hard; they were about working smart, too. We took a moment to recharge and reconnect during our very first team retreat in the picturesque tbay of Spiez. It was two days of laughter, learning, and leveling up our teamwork, preparing us for the challenges ahead.   And speaking of challenges: summer has been a true test of our resilience. With a full slate of projects and new hurdles popping up at every turn, our team’s dedication and adaptability really shone. The Swiss Economic Forum’s motto, “When the going gets tough… the tough get going,” has never felt more fitting.   Now, as we march into the final stretch of the year, we’re more energized than ever. With just 132 days until Christmas, we’re determined to keep this momentum rolling. A huge thank you to our incredible team, clients, and partners for making 2024 such a successful year so far. Let’s finish the year even stronger than we started!   #teamavales #AVALES #Wilhelm #Assessment #Coaching #ManagementAudit #Outplacement #CareerCounseling

#CarnivalCorporation, the #US-based #cruise #industry #leader, has announced outstanding #financial #results for the #fiscal #quarter ending #November2024. The group reported a total #revenue of $5.94 billion, marking a 10% increase compared to the same period in #2023 and establishing a new #alltimehigh for this quarter. The #record-setting performance was driven by both core #cruise #sales and #onboard #revenue streams. Cruise ticket #sales accounted for $3.85 billion (+9.8%), while onboard #revenue contributed $2.08 billion (+10.5%). #OperatingIncome reached $561 million, a remarkable 46.1% increase, making it the second-highest #Q4 #operatingincome in the company’s history, trailing only #2016. #NetIncome stood at $303 million, a significant turnaround from the $48 million #netloss recorded in Q4 2023. From #September to #November2024, Carnival’s #ships welcomed 3.3 million #passengers—another #record for this period—compared to 3.1 million passengers in the same quarter of the previous year. #RecordResults for #FY2024 For the full #fiscalyear 2024, #CarnivalCorporation achieved an unprecedented total #revenue of $25.02 billion, reflecting a 15.9% #yearoveryear #growth. #OperatingIncome surged by 82.8% to a historic high of $3.57 billion. #NetIncome reached $1.92 billion, a dramatic recovery from the $74 million #netloss in #FY2023. #Passenger volume also reached new heights, with 13.5 million #guests sailing aboard Carnival’s #ships in FY2024, a 9% increase compared to the prior year. These stellar #results underscore Carnival Corporation’s ability to capitalize on #market #demand, optimize #operations, and enhance #passengerexperience, setting the stage for sustained #growth and #leadership in the global #cruiseindustry. #RecordBreakingResults #FiscalSuccess #SustainableRevenue #TourismLeadership #GlobalTourism #PassengerExperience #TravelExcellence #Costacrociere #CarnivalMaritime #CarnivalCorporation

Breaking News: Southwest Airlines Board Shake-Up Southwest Airlines is making headlines with major changes! Gary Kelly, the Executive Chairman who has been with the airline for nearly 40 years, will retire next year. This follows pressure from activist investor Elliott Investment Management, which has criticized the airline's leadership for "stunning underperformance." Key Highlights: Gary Kelly's Retirement: Kelly, who served as CEO from 2004 to 2022, will step down after the 2025 annual shareholder meeting. Board Changes: Six board members will retire in November. Leadership Support: Despite the shake-up, current CEO Bob Jordan has "unanimous support" from the board. Southwest is also grappling with higher costs and aircraft delivery delays, which have affected its service. This shake-up comes as the airline adapts to these challenges and aims to restore its performance. Stay updated with the latest international trends and business news by following our page. Share your thoughts on this development and join the conversation! For more insights and updates: [New Job Openings](https://lnkd.in/e9cPAiyM) [Spark of Brilliance Newsletter](https://lnkd.in/eXDcCJ3F) [Supply Chain Management Newsletter](https://lnkd.in/ewtdhtQf) [CSWIP Preparation Group](https://lnkd.in/eYB_Q7sS) [TrendPulse with Syed](https://lnkd.in/exBHU_eG) #zulfiqarhaidershah #syedzulfiqarhaider #sparkofbrilliance #trendpulsewithsyed #SouthwestAirlines #GaryKelly #LeadershipChange #BoardShakeUp #BusinessNews #AirlineIndustry #CEOChange #ElliottManagement #CorporateGovernance #IndustryTrends #InternationalNews #TrendingNow #BusinessUpdates #Leadership #Investors #AirlineNews #CorporateLeadership #ExecutiveRetirement #Boeing #CostChallenges #SupplyChain #GlobalNews #CareerOpportunities #JobSearch #ProfessionalGrowth #MotivationalNews #CareerUpdates #SupplyChainManagement #BusinessInsights #JobOpenings #LeadershipSupport #BoardUpdates #CompanyNews #NewsUpdate #IndustryNews #GlobalTrends #CorporateNews #Employment #CareerAdvancement #NewsHighlights #BusinessTrends #CurrentEvents #ProfessionalNetworking #JobOpportunities #MarketTrends #FollowForUpdates #JoinTheConversation Source: https://lnkd.in/ejF4-7v6

🌟 𝐈𝐭’𝐬 𝐚𝐥𝐦𝐨𝐬𝐭 𝐭𝐡𝐞 𝐰𝐞𝐞𝐤𝐞𝐧𝐝! 🎉 We’ve wrapped up another successful week at BLS, and we’re ready to recharge for even more great work ahead.🔋 Here’s to a relaxing weekend and a fresh start next week! 😎🚛✨ #WeekendVibes #BLS #Success #Teamwork #FleetManagement #ReadyForNextWeek #AssetFinance

Ever feel like you're stuck just accepting whatever life throws at you. Let me tell you, you don’t have to. 🍋✈️ Today, my flights for the incentive trip I earned with my online business, were delayed, causing me to miss my connection. 😬 I was told by the airline there was nothing more they could do but put me on tomorrow’s flight, and because I was flustered, I accepted it. Cue the tears and frustration. But then I called my husband—my rock—and his calmness brought clarity. He quickly worked out an alternative route, secured a refund from the airline, and got me rerouted through another country. Now I’ll arrive at my island paradise only 2 hours later than expected! 🏝️🌅 The lesson? Don’t just accept things as they are, whether it’s in travel, your job, or life in general. If something isn’t working for you, challenge it, look for other options, and make it work on your terms. Your voice, opinion, and desires matter. 🙌 Sometimes we just need to stop, breathe, and remember that a solution is out there if we’re willing to find it! #CorporateMum #WomenWhoLead #WorkLifeBalance #MakeLifeWorkForYou #WomenInBusiness #ChallengeTheNorm #TakeControl #MoreThanAJob #RedefineSuccess #LifeOnYourTerms #WomenEmpowerment