The Mortgage Banker’s Association (MBA) announced earlier this week that Jonathan L. Kemper, current President and CEO, will be stepping down on December 31, 2008. According to the same MBA statement, during Kempner’s seven years with the MBA, the association doubled its revenues and operating reserve fund.

“This has been an extremely intellectually stimulating and rewarding period in my professional life,” said Kempner. “Navigating the highs and lows of the real estate cycles, with a first rate leadership and wonderful membership, afforded me a rare opportunity to contribute to one of the most important industries in our society. I am very proud for the extraordinary staff I have helped assemble at MBA, as my colleagues’ dedication, intelligence, and expertise make a true difference in the overall quality of life for many Americans. MBA’s mission, I am convinced, will be enhanced with new leadership, and on a personal level I very much look forward to a new position of leadership myself after nearly eight wonderful years at MBA.”

Kieran P. Quinn, MBA Chairman of the Board of Directors had this to say of Kempner, “Jonathan has been an exceptional leader for MBA. He has led a major transformation in our operations, and put in place a first rate staff that is widely acknowledged to be one of the most effective in the Washington association world. He has poured his heart and soul into MBA with the highest degree of professionalism, integrity, and devotion to our members, and always with a personal warmth and sense of humor. The entire MBA family will miss him.”

Quinn also announced that John A. Courson, former MBA Chairman, will become their COO effective August 1, and will assume the position of President of MBA, effective January 1, 2009.

Quinn said that, “John Courson brings tremendous industry knowledge, business savvy, and political skills to MBA. John has worked tirelessly on behalf of our industry for more than 40 years. He has been an advocate ensuring safe and affordable housing for all Americans and for simplifying the mortgage process. We are lucky to have John join MBA and steer our association to represent the real estate finance industry as we continue to build America’s communities.”

Courson, who currently serves as Chairman of the Board of Directors of the California Housing Finance Agency, served as Chairman of MBA in 2003 and as a member of MBA’s Board of Directors, the Residential Board of Governors (RESBOG) and the Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG).]

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Pune, May 14: “ You want to play truant - It’s fine.”

This position has been hard Symbiosis Institute of Business Management (SIBM). He proposed a powerful sum of more than 50 years, MBA final MPM and students, who are not their mandate, will not be granted, and the lot is not unlucky for the situation seem to be the examinations from May 16.

When contacted SIBM director PraMod Dr Kumar admitted that fines ranging from 1000 to 3500 RS has been established. “ If students internships to ensure the participation they stop classes and to ensure, academic standards, the fine is a deterrent for the future for the treatment of the lot is not easy semester,”he averred.

Last year MBA II and III MPM students were shocked to learn the fine was on the board, on May 9. The fines were imposed in consideration of the cumulative participation from January to April. Students with a number of participants is less than 50 per cent of a fine, R 3500, while those with a number of participants between 50 and 60 per cent up coughing R 2000. Students with a number of participants between 60 and 70 per cent of the fine of Rs 1000

While disadvantaged students have a written complaint to the University of Pune authorities, on condition of anonymity, she déliré about the injustice of the fine. In its memorandum to the university, students have said that fixing fines against it was an aberration, inhuman and cruel in order to collect money under the pretext of lack of participation.

They calculated that the whole system of marking attendance was wrong and, although first a list of more than 90 students April was the final list of entries to 50 odd students. In highlighting the differences between the two lists, students have reported instances where a student, even if the USA, it was revealed that 26.67 percent attendance. Similarly, in the case of other students leave school during the first half, and not reporting for other classes, it was 9.38 percent a presence.

Kolkata, April 8. Faculty members of the Indian Institute of Management, Calcutta (IIM-C) are companies in their opposition to the Union Human Resource Development Ministry’s move to reduce taxes.

Prof. Asish K. Bhattacharyya, Dean (planning and management) of IIM-C and spokesperson of the Faculty, told Business Line, the Faculty of the opinion that the tax was cut under the autonomy of the Institute, which is registered by the association as a body independent, and not a hotel.

Professor Bhattacharyya said that there is an option of the Faculty, have resorted to legal measures. “We are considering all options. The judicial process is not a privileged, but we are obliged for such a measure as a major group of IIM-C,” he says. ”

“We also ask, Mr YC Deveshwar, president of the Governing Council on its draft resolution on reducing fees. IIM-C Faculty strongly believes that the Department of command on the subject was not a” mandatory “At the Institute. Approval for the new session at the IIM-C would begin in late May or early April.

Mr. Deveshwar, it is scheduled for April 16 Faculty.

In addition, the Supreme Court today directed all six IIMS to submit their comments on the issue of reducing costs by 16 April. The summit also court fixed the hearing of the public interest litigation on the subject, the same day. IIM-C response to the Supreme Court directive on the fee reduction would be completed early next week, according to the Institute of sources.

Prof. Bhattacharyya said: “We are discovering, through legal formalities, if we ever move the court”.

Regarding the issue of autonomy of the Faculty representatives pointed out that the memorandum of freedom of association and rules of IIM-C had clearly stated that “the general superintendence, direction and control over business of society (IIM-C-Gesellschaft) their income and property is vested benefits to the board of directors of the company, which bears the name “Board of Governors.”

The Faculty Council has estimated that the chairman of the Board of Governors, has been specially assigned by which they make, the resolution, Mr. Deveshwar could not as a “compromise” the autonomy of the committee. “The Institute of revenue, academic freedom, decisions concerning the students’ teacher-report and the curricula could not part of the area of the state,” he observed.

Prof. Bhattacharyya also pointed out that the IIM-C Faculty had a position paper of the Government in question to move in a reduction of taxes and the question of autonomy over a month ago, was the distribution to the officers.

The Indian Institute of Management-Ahmedabad (IIM-A), in an affidavit filed before the Supreme Court on Tuesday, has said that the unilateral decision of the Union ministry of human resources development regarding fees to be charged by IIMs does not seem to be a step in the right direction.

The affidavit, filed after the apex court served notices to the six IIMs on April 8, asking them to clarify their stand on the fee-cut issue, puts on record the IIM-A’s willingness to sort out the issue through a process of dialogue.

“We have not gone to the court proactively. The affidavit places our views on record in answer to the notice and not filing it would have limited our options. We are, however, not a party to the PIL,” said a source in the IIM-A.

The affidavit has three components - the Position Paper prepared by the faculty, the resolutions passed by the IIM-A Society and the Board of Governors recently, and the fact that the institute is in a process of dialogue with the ministry.

Dons feel that the affidavit clarifying the institute’s willingness for a dialogue will create an atmosphere that will help the process initiated by chairman NR Narayanamurthy during the board meeting here on April 3.

The affidavit said the fee-reduction order has to be seen not in isolation, but in the larger context of many other decisions by the ministry that threatened the autonomy of the institute.

It has also said that the notification on fee reduction “violates the time-honoured process of the fee being decided by the Board of Governors and that it is not necessary to reduce fees to make management education more affordable to the less well-to-do sections of the society.”

Meanwhile, the Indian Institute of Management-Calcutta faculty council filed an application before the Supreme Court, praying for an order impleading it as a respondent in the fee-cut case already pending before the apex court.

This is a new variant of the still ongoing tussle between the Union Ministry of Human Resources Development and the Faculty of the Indian Institute of Management, Calcutta.

The MHRD, a cheque crore RS 4 IIM-C on Thursday evening, with a goodwill letter, this is not the kindness of the Faculty members.

While the letter states that the money is sent to the Institute with the express purpose that good, that the deficit is due to annual tuition of 1.25 lakh bar RS RS 30000, members of the Faculty said that the ministry was only trying “an act of submission” to the Supreme Court.

While no provision has been to date have IIM, Ahmedabad and IIM, Bangalore, it is assumed that money was sent to IIM-C, because its Board of Governors of the tax by a bar resolution, while the Faculty decides against him.

The PIL was filed at the head of court against the MHRD for the tax bar. IIMS of Ahmedabad, Bangalore and Calcutta (Faculty, in the latter case), the PIL.

The Faculty The argument was that once the tax reduced, it is annual deficit of nearly 6.5 crore MHRD But the case has ensured that good, the deficit in tranches of the fee, and it is in the sense that the check was sent.

Faculty A meeting was convened last Friday to discuss the removal MHRD and the consequences that result from the fact that the Faculty last. The Council said MHRD not a single penny time in 2003-04, when he apparently was preparing to send at least RS 6 crore.

Hence, the sudden release of funds is “intangible and a powder in the eyes.”

“The MHRD all crazy trying to maintain, in the cheque. It is well below what the IIM C would be necessary if the tax bar is implemented. The Institute is already taken by a lack of means. We have tried our cost of the body that we have put in place since 1991, a high-level Faculty said.

“Let the MHRD first version during the last year, the fund and its share for this year, through these RS 4 crore, before any claim,” said the panel members.

THE faculty council of the Indian Institute of Management, Calcutta (IIM-C) on Monday decided to move the Calcutta High Court challenging the validity of the 164th meeting of the board of governors, which took place on March 26, 2004.

Prof Asish Bhattacharyya, Dean (Planning & Administration) and spokesperson of the faculty council, told newspersons that the validity of the said meeting was being called into question since four members had been replaced or substituted just before the crucial meeting to decide on the fee cut issue.

The council has also recommended that the Director of the institute provisionally maintain the fee structure for the forthcoming session, which begins in May.

Prof Bhattacharyya said that the council has suggested that since the board of governors has not been able to take a decision on fee reduction as directed by the Union HRD Ministry, the continuation of the same fee structure was advisable in view of smooth functioning of the institute as per the curriculum.

In the just concluded two-year session, IIM-C had charged a total of around Rs 2.5 lakh. The payments were obtained in various stages. The initial payment was around Rs 48,000.

“We have also suggested to the Director, who was present at the council meeting today, that fee received in excess of what might be finally decided by the board of governors or the Supreme Court be refunded with interest to the students.”

Prof Bhattacharyya also said that it has been the practice at IIM-C that before every session the faculty would recommend the fee structure and the board would take it up for approval. The council has also suggested that the Director, in the absence of clarity, might keep aside the Central Government’s proposed grant of Rs 4 crore for 2003-04 on account of non-Plan expenditure.

“The fund has not come in yet. But if it comes, the council advises that it should not be used until the matter is resolved by the Supreme Court or through a process of dialogue.” Meanwhile, the IIM-C faculty council has requested the Ministry that it be included in the process of dialogue on the fee revision issue.

The council has decided to form a three-member committee consisting of two faculty members and one alumnus for the proposed dialogue.

Calcutta: It’s management practices rather than a me-combat. Faculty members of the Indian Institute of Management, Calcutta, want the status quo on tuition fees will be maintained at least for the next academic year.

Faculty members say that the Institute of authorization to issue letters of a fresh cargo of students from next week, in which tuition fees must be clearly indicated.

The decision of the IIM-C’s Faculty meeting on Monday, is a clear defiance framed by resolution YC Deveshwar, president of the IIM-C’s Board of Governors.

The President of the European Union has HRD ministry bar annual fee of 1.25 lakh RS RS 30000

“Given that tuition fees should be clear to new students, the Council may decide that the fees issue and negotiate director Shekhar Chowdhury. We also proposed that the segregated funds, where money may be filed. If the fee is to bar the Apex court, we students money back with interest “, Ashish Bhattacharya, IIM-C-dean of planning and management said.

The director is expected to inform the Board of Governors of the Council decision. The Council also approved the decision of the ability to move high court on Tuesday.

It is responsible for the HRD ministry of the decision on their own people to participate in the 164 Board of Governors’ meeting, on March 26 are available in some members of origin. A new teams up with a Alumnus and two members the ability to ensure that the HRD ministry has initiated a dialogue with members of the Faculty in the bar fees discussion. “The Supreme Court, the ministry believes that discussions with the IIMS to solve the problem of honoraria. In case of IIM-C, the Board of Directors and members have the option of opposing view and, therefore, we ask that the Ministry held separate discussions, “Bhattacharya added.

The Council said that the RS 4 crore kitty sent by the Observatory at low tide on any deficit are not currently used. “We believe it is in a separate account and can not handle now. We will wait until the Supreme Court to take a decision on the question that we decide how it is used,” said Bhattacharya.

Calcutta, April 28. The Faculty Council of Indian Institute of Management, Calcutta Wednesday a petition filed petition before the Calcutta High Court against the validity of the Board of Governors meeting on March 26 had allegedly authorized the Board Chair to take a decision in the issue of fee cut. The tax was revising down by the Union Ministry of Human Resource Development in the six IIMS.

The petition is limited to the validity of the meeting and not the accuracy and validity of fresh cut mandate of the ministry, such as the case is pending before the Supreme Court.

The Faculty written petition took note of the situation, data showed on Thursday that, when appointing members on board and the appointment instead of the representative of European Union members absent government allegedly acted in violation of the rules of the IIM-C.

NOW that the IIMs have more or less ruled out a legal recourse against the HRD Ministry’s directive to impose a fee cut in their PGP (Post-Graduate Programmes) courses, the country’s premier business schools are busy considering various options to make up for this revenue loss.

“One of the options before us is to increase the number of Management Development Programmes (MDPs),” said Prof Prakash G. Apte, Director, Indian Institute of Management, Bangalore.

In an exclusive interview with Business Line today, he said that the board of governors would meet in the next four days. “IIM-Bangalore will work out its finances then. We have not yet received the break-up for the planned and non-planned grants.”

But would increasing the number of management development programmes not impose a huge load on the already over-burdened professors who are handling various PG courses, executive education programmes and consultancy assignments?

(IIM-Bangalore, for instance, has about 70 professors for 700 students (400 in the PGP, 300 in the PGP in Software Management and 40 PhD students) and this year, the institute has conducted about 45 MDPs.)

Prof Apte said that they might even consider reducing the number of offerings for the students so that more staff time is available for corporate training programmes.

On whether the institute would recruit more teachers, he said: “Yes, that would be one option,” but expressed doubt about finding the right kind of talent in the industry.

But this too would require Government permission. And what about additional funds for the salaries? With the cut in allocation in this year’s Interim Budget - from Rs 79.73 crore last year to Rs 45 crore in 2004-05 - the IIMs would have to tread this path carefully.

Meanwhile, the Government is also insisting that the IIMs increase intake of students.

This might be one way of boosting their revenues, but Prof Apte said: “We can take about 40 more students, provided we have the right infrastructure like hostel rooms, mess, etc.”

The biggest carmaker, General Motors, India’s capital was head hunted silicon, which offers a lot of 2005 on the conclusion of the Indian Institute of Management, Bangalore - Shanghai China a detachment of its establishment.

It is a unique double for the institute, which since the existence of the last three decades. While the GM head hunting is probably fairly well, it is perhaps for the first time that the Middle Kingdom would be the best after a taste of India’s most prestigious B-schools.

Turning to the figures. Against five companies during the year 2004 for the location zero (the first day of qualifying period), the number this year is almost three times. The newcomer to this year are HSBC, British Petroleum, Barclays, General Motors and Bank of America.

The list of companies in 2005 to zero Slot Board consists of three companies - McKinsey, Boston Consulting Group (BCG) and AT Kearney.

Said Gauri Gupta of BCG: “The 2005 is well on track, particularly in analytical representation of a high degree of maturity.”

Other hirers contain a mixture of investment banks and industrial products.

Officials, which provides details have not yet been calculated, but seemed confident that these would be higher than those of 2004.

While Capital One has leased for New York, British Petroleum, it is anticipated that the supply of Singapore. HSBC is the attitude of New York, London and Hong Kong, while Deutsche Bank would recall staff to London.

One of the biggest banks in France, BNP recruitment, London, Singapore, Hong Kong and Tokyo.

The second day of negotiations, it is the turn of the usual suspects-FMCG majors like HLL and P & G. In addition to these two Citibank is also the second day, which is also the National Kidney Foundation, Singapore.