Monday, August 30, 2010

Survivor Stands on Verge Of a Grand New Expansion - WSJ.com

Survivor Stands on Verge Of a Grand New Expansion - WSJ.com

Interesting article - a true capitalistic success story, complete with drama, cut-throat competition, bankruptcies and a meteoric growth. The article goes into details to push the concept of transformation from immigrant to a lifestyle of the Rich & Famous candidate...."Signs of Mr. Chatwal's largesse are evident in both the U.S. and India. In 2006, he organized a seven-day, three-city wedding for his son Vikram, now 38, a part-time Bollywood actor and party companion of Sean "P. Diddy" Combs, among others. The wedding, one of the most grandiose in recent Indian history, was filmed by Discovery Travel.

In the elder Chatwal's 45th-floor penthouse on the Upper East Side, many walls are covered with letters from politicians and photos of him with heads of state. He notes that he helped organize a 2007 New York fund raiser for Mrs. Clinton, then seeking the Democratic presidential nomination, that drew 1,400 people at $10,000 per table. 

Mr. Chatwal says his motivation in politics is to foster closer U.S. ties with India. He and his immediate family have directly donated a cumulative $305,000 to national political candidates, almost all Democrats, in the past 25 years, according to Opensecrets.org, which tracks political donations".

The linkage to India is well documented too :"In April, Indian President Pratibha Patil presented Mr. Chatwal with the Padma Bhushan, among the highest awards for Indian citizens, for his role in rallying U.S. politicians to support a civil nuclear pact between the U.S. and India, clinched in 2008. Various political parties in India denounced Mr. Chatwal's selection for the award, some citing his past bankruptcies and legal troubles.
"I see it as a great learning experience," Mr. Chatwal said of his earlier troubles..."





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