TikTok's return; numbers decide IPL team's fate

Suits & Sayings | ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parloursReborn & RebuildA grand old man of Indian business is spending more and more time in London. Nothing wrong in that since most of India Inc prefers summer walks in Kensington rather than Lodhi Gardens these days. But what got us interested is the consternation among his children, who are also in the family business. Apparently, they are anxious that daddy might take some drastic steps and convert the flagship into a fund-like structure and even go global, deploying capital. The group has already reorganised or sold several of its commercial ventures and is just about turning the corner after years of misery. The successors want to retain their spot in the business fraternity instead of becoming me-too financial investors like several other fat cats.Cheque That OutLate last month, bankers from this topflight private bank were dumbstruck when one of their equally top-tier corporate clients presented them with a cheque as repayment of loans for Rs 18,000 crore! Mind you, this is a single bank we are talking about. No points for guessing the corporate, but as much as this is great news, it also means a chunky income stream going away for this lender in the middle of a transition.Trousseau Shopping Things have been rather tumultuous at TikTok’s India office ever since the showstopper app was shown the door by the Indian government in June. Over the past few weeks, news of suitors lining up for a distress sale of the app globally and in India has been swirling nonstop. Even though the winner of the bidding war is yet to be announced, our friends tell us multiple creative agencies have been tapped by the parent company in India to plan ahead for a comeback campaign that would also communicate either a change of ownership or radical alterations in the corporate structure to assuage anti-China sentiment. Some are saying this rapid-action mode was activated by the recent entry of a homegrown behemoth in this one-of-a-kind swayamvar where you look for the ideal wedding planner even before finding the perfect groom. 77712665Secret DoseHe’s as flamboyant as he is eccentric. Guess billionaires can get by with that. Currently much in the news in the middle of the pandemic, he’s also pursuing serious moneybags but unfortunately discretion is not a forte. Recently, just ahead of a trip to the US to meet senior government officials, he selectively told a few close buddies about this “clandestine” rendezvous but insisted that each one had to keep it under wraps. As is always the case, it became viral almost instantly until everyone realised it was very much an open secret.Aide DecampAfter a brief stint with another firm, the prodigious former aide of this leading business doyen has been keen to branch out as a healthcare entrepreneur in the field of oncology. His professional expertise makes him perfect for the venture as well. Naturally, he’s leaned on his former organisation that’s known for its work in the non-profit sector to help him out financially with seed capital. A fierce loyalist, he has withstood many a storm, sometimes at great personal expense. It will thus be interesting to see if the current leadership obliges.Numero UnoAfter advising politicians, billionaires, divas and diamantaires, it was only a matter of time before a sporting franchise consulted this marketer turned numerologist. A south-based IPL team has done exactly that as they got ready to fly to the UAE for the tournament. With miserable performances haunting it in the past few seasons, this multi-times runner-up badly needs some magical numbers this time. Our man, we learn, has already got the franchise, backed by a global giant, to change the logo design and colour and even recommended the date they flew out. We wonder if the time of the toss is next on the agenda.Landing a FortuneIt’s no secret that a leading automaker is in discussions to move a key plant some distance away from the current site. After several decades, this will require some recalibration of resources. However, with the old plant standing on 300 acres of prime land, tongues have started wagging on the future of the plot. It all depends on the incumbent state government to give an alternate site and tweaking usage norms for things to move in a swift manner for all concerned.Snack AttackIf not working or attending Zoom calls, what were we all doing sitting at home during peak lockdown? Possibly munching chips, cookies or other packaged snacks furiously to beat collective stress, going by the sales of most food companies, including cooperatives. But an MNC behemoth’s snacks sales have dropped sharply. No wonder the top brass is sweating as questions are being asked over failures in the supply chain, distribution and go-to market strategy. Don’t be surprised if there’s some ‘restructuring’ soon. Considering this division was once manned by industry stalwarts who went on to lead companies, the current team appears to be floundering. The fact that the core business, now outsourced to a key partner, is in fine fettle makes the performance gap even more stark. 77712675Show & TellWhen it comes to the king of good times, it’s open season. Joining the list of several movies in the making is a mega web series. A Mumbai-based production house, currently on a biopic spree, has just bought the rights to a book on the fallen billionaire written, interestingly enough, by a teetotaller journalist who had seen the booze and aviation baron up close. The script, casting and other commercial details are being worked upon, with plans to hit the studio floors at the earliest. With a leading producer who has made Bollywood’s enfant terrible a household name backing this venture this seems a blockbuster in the making.Toy Buoy If last year, the father could buy an Rs 11-crore Rolls Royce Phantom VIII, the most expensive production vehicle available on sale in this country, after getting disqualified by the Karnataka assembly speaker for anti-party activities, what’s wrong if his boy splurges on a toy that’s worth almost that much. A little birdie said Nithin Purushottam, the businessman-politician son of MTB Nagaraj, the former MLA from Hoskote, just got his splashy blue Ferrari F8 Tributo, which comes with a $300,000 price tag in the US. The landed price is much more in India. Posing with his kids, he has sent proud pictures to friends as well, many of whom have turned various shades of green with envy. If this is not recession proof, we don’t know what is!76276918

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