Ratan Tata’s admission that he bought Corus and Jaguar/Land Rover at the top of the value-cycle should be a warning to corporate chiefs the world over. Ratan Tata rescued the Tata empire which was not growing as fast as its rivals and imparted new energy to it — the Nano was the culmination of this drive. It took just two bad decisions (‘Deal-making hubris’, May 12) to undo all the good he has done. While many will say that Tata’s decision seemed right at that time, surely a company taking on so much debt to buy any assets cannot be a sensible thing. There is now a question mark over all big acquisitions. Even if they are regarded as good at the time they’re made, the final judge can only be history.
Asha Sehgal, Mumbai
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