Rise and Fall of 8 So-Called Healthy Foods Slideshow
Eggs: Unhealthy → Healthy
Are eggs good or bad for you? Most studies regarding the healthfulness of eggs have concluded that they’re soundly nutritious; however that notion does come with a couple of caveats. Citing a 2008 study published in The American Journal of Clinical Nutrition that observed 21,300 men over a 20-year period, Web MD writes, "After adjusting for other risk factors, men who reported eating seven or more eggs per week were 23 percent more likely to die of any cause during the study; the risk rose among those with diabetes." However, eating up to six eggs per week showed no increase in health risks.
Meanwhile, in January 2012, the Mayo Clinic’s Thomas Behrenbeck, M.D., Ph.D., responded to a question about how eggs affect cholesterol levels by saying, "Although eating too many eggs can increase your cholesterol, eating four egg yolks or fewer on a weekly basis hasn't been found to increase your risk of heart disease."
Peanut Butter: Healthy → Unhealthy
Because peanut butter is high in saturated fat (and tastes so good), it must be bad for you, right? Not so fast, says Walter C. Willett, M.D., in the July 2009 edition of the Harvard Heart Letter: "Over the years, numerous studies have shown that people who regularly include nuts or peanut butter in their diets are less likely to develop heart disease or type 2 diabetes than those who rarely eat nuts."
An earlier study, conducted in 2008 by the American Journal of Respiratory and Critical Care Medicine concluded that pregnant women who eat peanuts or peanut butter are more likely to increase their child's development of asthma by 50 percent. But since this is the only research of it's kind to be conducted the conclusions must be taken with a grain of salt.
Processed Meat: Healthy → Unhealthy
Thanks to the resurgence in popularity of the Atkins Diet and similar programs encouraging a low-carb, high-fat meal regimen, a number of studies have taken a closer look at the health effects of certain processed meats (bacon, sausages, cold cuts). In 2010, The Globe and Mail in London reported on a study published by the American Journal of Clinical Nutrition, which concluded that consuming foods high in saturated fats have no link to increased rates of heart disease.
On the other hand, CBS News detailed another 2010 study by the Harvard School of Public Health, which found that eating bacon, sausage, and hot dogs can increase the risk of heart disease by 42 percent (and diabetes by 19 percent). According to Renata Micha, author of the study, "Processed meats such as bacon, salami, sausages, hot dogs, and processed deli meats may be the most important to avoid."
Artificial Sweetener: Verdict Is Still Out
Does consuming food and beverages containing artificial sweeteners — such as Diet Coke, yogurt, ice cream, jams, and chewing gum — present a trade-off between weight loss and an increased risk of cancer? The verdict is still out, says the National Cancer Institute: "Questions about artificial sweeteners and cancer arose when early studies showed that cyclamate in combination with saccharin caused bladder cancer in laboratory animals. However, results from subsequent carcinogenicity studies (studies that examine whether a substance can cause cancer) of these sweeteners have not provided clear evidence of an association with cancer in humans. Similarly, studies of other FDA-approved sweeteners have not demonstrated clear evidence of an association with cancer in humans."
Butter: Unhealthy → Healthy
Contrary to popular belief, going back to the saturated fat discussion from the peanut butter slide, Weighty Matters cites an American Journal of Clinical Nutrition meta-analysis published in 2010 that says saturated fats (read: butter) are not tied to heart disease. The research considered 21 studies over a span of 23 years that looked at 347,747 subjects and found virtually zero effect of saturated fat intake on heart disease, stroke, or cardiovascular disease.
Red Meat: Unhealthy → Healthy → Unhealthy
According to a recently published Web MD feature on red meat: "A National Institutes of Health-AARP study of more than a half-million older Americans concluded that people who ate the most red meat and processed meat over a 10-year-period were likely to die sooner than those who ate smaller amounts. Those who ate about 4 ounces of red meat a day were more likely to die of cancer or heart disease than those who ate the least, about a half-ounce a day. Epidemiologists classified the increased risk as 'modest' in the study." There are some benefits to red meat, though, Web MD continues, noting that it is high in iron and that it supplies vitamin B12, zinc, and protein. The feature suggests that it's best to consume red meat in about 3-ounce servings.
A similar study conducted by the Harvard School of Public Health in 2011 concluded that there is a strong association between regular consumption of red meats (both processed and unprocessed) and increased risks of developing type 2 diabetes.
Chocolate has to be terrible for you, right? Hasn’t it been scientifically proven that anything that tastes so good will ultimately have drastic health implications? Shockingly no, says a 2011 Harvard Medical School study detailed by The Crimson. The study concludes "that consuming chocolate lowers blood pressure, improves cholesterol levels, and may reduce the risk of diabetes."
However, given the levels of sugar and caffeine present in dark and milk chocolate, it’s probably still best to enjoy the health benefits and exquisite taste of chocolate in moderation.
Cheese: Verdict Is Still Out
Real Beauty examines conflicting studies about the role cheese should play in your diet if you are trying to lose weight: "A new study in Nutrition & Metabolism, funded by the National Dairy Council, suggests that cheese and other dairy foods may help prevent weight gain after dieting; another study found that regular cheese eaters gained less weight over time than those who ate cheese less often. But other studies, including one from Johns Hopkins in 2008, have found that people who eat more cheese tend to be more overweight."
Another study published in a 2011 edition of the American Journal of Clinical Nutrition concluded that when consumed in large quantities, cheese can help lower LDL-cholesterol concentrations. The belief is that the high calcium content found in cheese is responsible for this outcome.
Vegetable Oil Substitutes: 5 Healthy Alternatives for Baking, Frying, and More
Disclaimer: Results are not guaranteed*** and may vary from person to person***.
“Vegetable” seems to be a magic word when it comes to health. Eating more vegetables is one of the best ways to prevent, or substantially reduce, the risk for conditions such as heart disease, high cholesterol, high blood pressure, type 2 diabetes, weight gain, and even certain cancers. But do the same benefits extend to vegetable oil? Not exactly.
Vegetable oils are processed oils from various seeds like soybean, rapeseed (canola oil), sunflower, corn, cottonseed, and safflower.
People have been encouraged to use vegetable oils for decades because they are a form of unsaturated fat. But the reality is—and a growing number of organizations are finally jumping on board—saturated fats are generally harmless and better for you. It’s a paradigm shift, which is why most nutritional organizations still maintain and recommend vegetable oils.
But think about it, when’s the last time you picked up an oily vegetable or held a vegetable with any evidence of fat marbled into it? It simply doesn’t happen. The genetic makeup of a processed vegetable oil is unlike anything humans would ever be exposed to naturally.
Vegetable oils alone are not necessarily dangerous. Rather, the problem lies in the rate at which they are consumed—they are used almost all of the time. This can alter natural physiological processes and encourage disease. In large amounts, these oils are dangerous. Here’s why:
- They contain high levels of omega-6 fatty acids, which are harmful in excess. This is not true for healthy plant oils like olive oil or coconut oil.
- They greatly disrupt the composition of fatty acid cells in the body by disrupting the omega 6 to omega 3 ratio. This ratio should be in the 4:1 or 1:2 range, yet it is projected to be 16:1 on average these days. This can lead to inflammation, cell oxidation, and the potential for disease.
- Vegetable oils can contribute to inflammation.
- Vegetable oils are often hydrogenated, which means they feature trans fats.
- They can increase the risk of cardiovascular disease.
- They are associated with conditions like depression and cancer.
In This Article:
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This is not so good advice. Most of these snacks are carb high, and will convert to glucose. And the body will convert high protein to glucose. My favorite night time ‘snack’ to curb appetite and give the body fuel and produce insulin without a glucose spike, is a cup of decaf coffee with a teaspoon of salted butter, or 2 tablespoons of heavy whipping cream. Zero carbs, fat converted to ketones and sent to the brain. Tastes great. No hunger. Good sleep.
The Rise and Fall of Celery Soda, the Hot Wellness Trend of the Late 1800s
Celery soda might sound like an oddity, but it once sat alongside cherry phosphates and chocolate malteds as a fairly standard drug store soda fountain option. It was promoted by athletes and bicyclists for its clean flavor and invigorating properties. It’s hardly heard of today, but for one hanger-on: Dr. Brown’s Cel-Ray. Made since 1869, Dr. Brown’s Cel-Ray, affectionately known as “Jewish champagne,” tastes like mildly sweet ginger ale with subtle celery seed/lovage undercurrents, and an almost creamy, smooth finish. Celery soda has a slightly coumarin-woodruff sweetness. It’s delicious with a pastrami sandwich, and it’s also positively haunting with grilled pork loin and warm peach compote.
Just as celery itself is a polarizing food, not everyone agrees on celery soda’s place in the American culinary landscape. l-Ray is a nasty, bilious tonic forced upon this generation by the Jewish martyr complexes of the prior one,” said James Beard Award-winning food writer Josh Ozersky, mincing no words in a 2009 interview with Serious Eats. However, there’s a more important reason we rarely see celery soda today. It’s because, in the words of the great Rick James, cocaine’s a helluva drug.
Native to the Mediterranean, celery has a long history of culinary and medical use. It was used in ancient Greece to make an aphrodisiac wine, it was in the pharmacopoeia of the ancient Egyptians, and it’s still used in traditional Chinese medicine to lower blood pressure. During the late 1800s, celery gained traction in England and the United States as a wellness trend. New brides were given celery vases as wedding gifts so they could proudly display the vegetable as a dinner table centerpiece. It was served in dinner parties of the social elite, in high-end restaurants, even in the first-class cabin of the Titanic.
This was also the era of the birth of American advertising, and one of the first items it was used to promote was patent medicines—tonics and elixirs made by doctors since the late 1600s to cure any and all ailments. In a 1793 advertisement in The Times, Dr. Ebinezer Sibly claimed his ”Re-Animating Solar Tincture” could even perform “restoration of life in cases of sudden death.” Unscrupulous salesmen and rampant charlatanism were sweeping the nation, but patent medicines nonetheless had an air of medical reputability. And the best place to dispense these nostrums was at the friendly neighborhood drug store soda fountain.
Soda and medicine were inextricably linked from the late 19th century to the mid-20th century this was the impetus for the drug soda fountain. Sweetened sodas were invented to help the medicine go down (as evidenced by brand names like Dr. Pepper), formulations for medicinal and tonic sodas were routinely advertised in pharmaceutical magazines, and drug stores were the only place to buy soda. Dr. Brown’s introduced their lery Tonic” in 1868, eventually changing the name to Cel-Ray in around the 1940s, in response to concern from the FDA.
In 1887, a businessman named James C. Mayfield of Birmingham, Alabama created his own version of the cure-all, which he dubbed Celery-Cola. Mayfield had gone into business with pharmacist John Pemberton, the creator of Coca Cola Mayfield was a one-third owner of Pemberton Medicine Company, mistakenly believing he had bought the rights to Coca Cola. He also sold a product called “Pemberton’s French Wine Coca:” French wine mixed with cocaethylene (a mix of cocaine and alcohol)sically a precursor to vodka and Red Bull—marketed as a patent medicine. After a series of legal battles, he eventually returned to focusing on Celery-Cola in 1899.
Pharmacists frequently used the age-old drug dealer tactic of promising the first hit for free, advertising free samples of their cocaine-laden sodas in local newspapers and trade magazines. Brands like Celery Kola, CEL-SO, and Celerina emerged, claiming efficacy against an array of debilitations, including nervous exhaustion, menstrual cramps, and spermatorrhoea (involuntary ejaculation, aka “male hysteria”𠅎vidently an epidemic in the mid-late 1880s). Some were more broad, claiming the tonics treat 𠇊ll languid conditions of the system,” which cocaine is rather famous for curing.
Celerina came with a number of expert testimonies in an 1883 issue of Journal of Materia Medica. “I have used Celerina in two cases of mental depression caused by sexual exhaustion,” wrote Dr. Charles Zoller of Litchfield, Illinois, 𠇊nd have found the results very satisfactory.” It’s unclear whether those two cases were his patients or himself, but his emphasis is nonetheless…intriguing.
In 1906, the Pure Food and Drug Act set out to stop the widespread fraud, deceptive advertising, hopefully prevent accidental poisoning. By 1910, several brands of celery colas and tonics (including Mayfield’s) were found to contain illegal amounts of caffeine cocaine and sued by the Pure Food and Drug Administration. Cocaine itself was still technically legal, as long as manufacturers labeled their products as containing the narcotic and adhered to purity standards (like several others, Mayfield had failed to disclose these ingredients on his labels).
The Harrison Narcotics Tax Act of 1914 merely regulated and taxed the drug. It wasn’t until 1922, with the Jones-Miller Act, that the government really cracked down on cocaine manufacturers. Meanwhile, following his brush with the feds and losing a lawsuit filed by Coca Cola, Mayfield relaunched his company under the new name Celery-Cola Corporation of America, reintroducing his Celery-Cola. Marketing his sodas as 𠇍ope” (though less aptly than before the crackdown), he was successful throughout the 1920s, but his company didn’t survive the Depression. By then, tastes had changed anyway, and celery soda (mostly) made its exit from the American beverage stage with the death of the American celery trend. Not even Dr. Sibley’s Solar Tonic can revive it.
Overnight oats recipes for weight loss
What you eat for breakfast sets the tone for the rest of the day. Eat a sugary or highly processed breakfast and your blood sugar and insulin will spike. This can cause more hunger, carb cravings … and fat storage. This is the last thing you want it you’re trying to lose weight! The best breakfast for weight loss includes protein, fiber, fat, and a healthy carb. This combo will keep you feeling full and will avoid blood sugar and insulin spikes and drops. Hello overnight oats! Overnight oats can be a great change from the typical egg breakfast. The trick will be what you add to the oats and of course, your portion size. Read on to get my top 10 overnight oats recipes for weight loss.
How overnight oats can help you lose weight
You’re probably thinking how can a high carb breakfast like oatmeal help you lose weight? If you’re envisioning a big bowl of oatmeal loaded with brown sugar and raisins, you’re correct … it won’t help you. The secret is to eat a moderate portion of oats and balance it out WITH added protein, fat, and fiber.
So how can overnight oats help you lose weight?
- Overnight oats contain a prebiotic fiber called resistant starch. Your body doesn’t digest this fiber and it passes through your digestive system to your gut. Here it’s fermented by the bacteria in your gut and helps to promote a healthy gut microbiome. Studies are linking the type and diversity of our gut bacteria to our overall health, including weight. Raw oats has 28 X more resistant starch as compared to cooked oatmeal.
- Is a great base to add in healthy ingredients that may aid in weight loss
- Keeps you feeling full longer, so you can avoid those vending machine raids
- Helps you avoid not-so-healthy breakfast choices on the run … like that 500 calorie muffin in the local coffee shop. Pop the oats in the fridge the night before and they’re ready for you in the morning.
Best ingredients to add to your overnight oats
What you add to your overnight oats, as well as the portion size, will make or break it as a weight loss breakfast. Studies have shown that adding protein, fat and fiber to breakfast can help promote weight loss.
- Protein and Fat:
-Nuts and seeds (and nut butter and seed butter) provide heart healthy fats, protein, vitamins and minerals and may help decrease risk of heart disease and diabetes. They also aid in weight control. The protein and fat keep you feeling full longer and blunts the rise of glucose and insulin. Our protein needs are also higher when we are cutting calories in attempts of losing weight.
-Protein powder. Add your favorite plain or flavored protein powder to keep you feeling full longer.
-Greek yogurt, 2%
-Chia/hemp or ground flaxseeds help to keep you feeling full longer and slow the rise and fall of blood sugar and insulin. Studies have also shown that higher fiber diets are associated with weight loss. Fruits such as berries also provide fiber.
- Antioxidants, vitamins, minerals
-Antioxidant rich fruit such as pomegranate seeds and berries. Studies have shown that blueberries and raspberries improve insulin resistance, which may aid in weight loss.
– Cacao powder or nibs.
- Other: Cinnamon. Not only does this add flavor, but it may aid in blood sugar management. Personally, I find it takes away the need to add a sweetener.
8 overnight oats recipes for weight loss
My nutrition intern, Catherine Scott Fischer, did recipe round-up and came up 8 recipes with 350 calories and 37 grams of carbs or less. Some of them contain as much as 26 grams of protein. You may also want to read my previous blog post on How to Make Overnight Oats.
- Coco Bliss Overnight Oats: This recipe from Catherine Scott Fischer will definitely keep you feeling full and satisfied until lunch! The chia seeds and rolled oats give it a great boost of fiber and the peanut butter provides a good source of fat that helps keep you fuller for longer.
1 tbsp chia seeds
1 tbsp unsweetened shredded coconut
1 packet (2 gm) of Stevia (or any low-carb sweetener such as monk-fruit)
1/2 cup of unsweetened almond milk (or any dairy-free milk)
1 tbsp of creamy peanut butter
1/3 cup of rolled oats
-Pour milk of choice in mason jar, bowl or Tupperware.
-Add chia seeds and stir.
-Add shredded coconut and stevia and rolled oats and stir.
-Add peanut butter, making sure it is well incorporated.
-Pop it into refrigerator overnight.
-Take it out of fridge and dig in!
Calories: 330, Fat: 22 gm, Carbs: 24.3 gm, Fiber: 10.1 gm, Protein: 10.8 gm : by wellplated.com Are you a dessert for breakfast kind of person? This recipe tastes like a cookie out of a jar. The greek yogurt not only makes it that much richer and creamier but is a great source of protein in addition to the protein powder! Note: 1/3 cup of rolled oats instead of 1/2 cup.
Calories: 230, Fat: 3 gm, Carbs: 35 gm, Fiber: 4 gm, Protein: 26 gm (nutrition calculated by Catherine Scott Fischer) This recipe is adapted from the baked oats queen – itstaylermarie.com! It’s simple and it’s a lower calorie option for those who are not that hungry in the morning and want a smaller meal.
Recipe adapted from: Blueberry Muffin Oatmeal
1/3 small-medium sized banana mashed
1/4 cup blueberries
1 tsp of cinnamon
1/2 cup of unsweetened almond milk (or any milk of your choice)
1 tbsp of chia seeds
1/3 cup of rolled oats
-Pour milk of choice in mason jar, bowl or Tupperware.
-Add chia seeds and cinnamon and stir.
-Add mashed banana and rolled oats and stir.
-Put it in refrigerator overnight.
-Take it out and top it off with blueberries
Calories: 210, Fat: 7.2 gm, Carbs: 34 gm, Fiber: 11.3 gm, Protein: 6.6 gm (nutrition calculated by Catherine Scott Fischer)lmond Joy Overnight Oats: by lifemadesweeter.com Had to include a creamy chocolatey recipe because who doesn’t love chocolate? It’s perfectly paired with slivered almonds on top giving it that perfect crunch to complement the smooth base.
Calories: 298, Fat: 12 gm, Carbs: 35 gm, Fiber: 10 gm, Protein: 9 gmby itstaylermarie.com. Carrot cake in general is one of my favorite desserts, but carrot cake for breakfast!? Yes please! The addition of carrots is a great way to incorporate some vegetables in your breakfast. Not to mention it is a great source of vitamin A which is a powerful anti-inflammatory antioxidant that aids in the proper function of our skin, vision, lungs, and immune system.
1/3 small-medium sized banana mashed
1/3 cup grated carrot
1 1/2 tbsp walnuts
1/4 tsp ground nutmeg
1 tsp cinnamon
1/2 cup unsweetened almond milk (or any milk of your choice)
1 tbsp chia seeds
-Pour milk of choice in mason jar, bowl or Tupperware.
-Add chia seeds, cinnamon, ground nutmeg and stir.
-Add mashed banana, grated carrots, rolled oats and stir.
-Put it in refrigerator overnight.
-Take it out and top it off with walnuts.
Calories: 250, Fat: 11.9 gm, Carbs: 31.8 gm, Fiber: 11.1 gm, Protein: 8.5 gm
by nutritioninthekitch.com When we think of overnight oats we think of rolled oats, steel cut oats, etc. Yet, this recipe contains an ingredient you wouldn’t think belongs in overnight oats but makes a great nutritious addition. Oats and quinoa make for a perfect duo, wait till you try!
Recipe from (omit the sliced peaches and either raspberries or blueberries):
Calories: 254, Fat: 6.8 gm, Carbs: 34 gm, Fiber: 9 gm, Protein: 15.8 gm (nutrition calculated by Catherine Scott Fischer):by nutritionstarringyou.com Who doesn’t love a cup of freshly squeezed orange juice to kickstart your morning? The addition of oranges in this recipe adds the perfect touch of sweetness and flavorful burst to the smooth greek yogurt base. Not only will this creamy creation give you a boost of vitamin C, it is also packed with 24 gm of protein!
Calories: 290, Fat: 6 gm, Carbs: 37 gm, Fiber: 7 gm, Protein: 24 gm by ohsheglows.com. Spices are nutritional powerhouses and are a great addition to any meal as they add so much flavor! This recipe incorporates a nice blend of spices and is so flavorful.
Note: Take out blackstrap molasses & maple syrup and replace with stevia or other low-carb sweetener
Calories: 241, Fat: 9.7 gm, Carbs: 35 gm, Fiber: 12.3 gm, Protein: 8.6 gm (nutrition calculated by Catherine Scott Fischer)
I’d like to thank Catherine Scott Fischer, nutrition student, for doing this recipe round-up!
At a 2008 event, “Masquerade in Venice,” given by the supermodel Petra Nemcova to benefit her Happy Hearts Fund charity, Mr. Altorelli asked the firm to pay for two $25,000 tables, but paid for another out of his own pocket. According to an email he wrote after the firm questioned the business purpose of the evening, Mr. Altorelli responded that his guests represented “over 20 private equity and hedge fund guys.” He added, “This is one of the big events of the year and it is attended by all of the major players.” He was reimbursed.
Dewey & LeBoeuf also reimbursed Mr. Altorelli for parties he attended with Nouriel Roubini, the New York University economist whose gloomy forecasts foreshadowed the financial crisis and made him an academic celebrity. Besides being an academic and consultant, Professor Roubini is an inveterate party giver. Dewey & LeBoeuf saw him as a potential source of clients, although there is no indication he ever generated any. And Professor Roubini said he had never discussed or done any business with Mr. Altorelli or his firm.
At one of the parties, Mr. Altorelli, who is divorced, met an émigrée from Russia, Anna Chapman, who said she had her own real estate business. The two began dating.
In June 2010, Ms. Chapman was arrested by the F.B.I. on charges that she was a member of a Russian spy ring embedded in the United States. Her father was described as a prominent K.G.B. agent. She attracted enormous media coverage. A London newspaper called her “the red under the bed.” She pleaded guilty to a conspiracy charge and was deported to Russia in July 2010 as part of a prisoner exchange, all of which was a shock, Mr. Altorelli told partners at his firm. He also had the awkward task of notifying his major clients.
As Dewey & LeBoeuf’s finances deteriorated after the financial crisis, Mr. Altorelli considered jumping to another firm (“It’s clear you have one foot out the door, if not two,” Stephen DiCarmine, the firm’s executive director, wrote in a 2011 email.) But offers of the $5 million guarantee, a seat on the firm’s executive committee and other reassurances persuaded him to stay.
Nonetheless, the not-so-subtle pressure to land clients and keep generating millions in revenue was evident in the email from Mr. DiCarmine. Much of Mr. Altorelli’s revenue came from one client — Capmark Financial Group, the former commercial mortgage business owned by General Motors that was sold to a private equity group in 2006. In its numerous corporate maneuvers, including a trip through bankruptcy court, Capmark was a veritable Mount Vesuvius of legal fees. Thomas Fairfield, then its general counsel, was a close friend of Mr. Altorelli’s and had worked with him years earlier in the LeBoeuf firm’s Hartford office. Mr. Altorelli landed the coveted role of debtor’s counsel to Capmark during its bankruptcy, which kept numerous Dewey & LeBoeuf lawyers occupied for years.
But Mr. DiCarmine noted in the 2011 email that without Capmark, “Your revenue production would not be in the range it has been and there is no ‘insurance’ that it will be at those levels in the future.” He went on, “But, we believe you will continue to hustle business, and deliver it, and are prepared to offer you the $5 million guarantee (for three years.)”
Mr. Altorelli replied in an email: “It is not just money. I have bigger concerns with the firm, and a two-page piece of paper that says I should make x over the next 3 years if I bring in around 100 million sort of tells me that I am expected to keep the firm afloat.” He added, “I am pretty sure I will deliver as I have every single year of my career.”
Mr. Altorelli never signed the proffered multimillion-dollar contract. He did stay until nearly the end, and former partners credit him with valiant efforts to save the firm, including forgoing much of his compensation in 2012. He left for what he surely thought would be a comfortable future at DLA Piper.
He soon realized otherwise. Just days later, on April 8, 2012, The New York Post ran an article with the headline, “Anna: The Spy Who Loved Me,” disclosing their previous relationship. (The timing, nearly two years after Ms. Chapman was deported, suggests someone at Dewey leaked the story.) It couldn’t have come at a worse time, just as he was recruiting clients to his new firm. Whether it had any impact, his billings at DLA Piper haven’t nearly reached the levels they had been at Dewey & LeBoeuf. Although he still represents Capmark, all the deals listed on his profile at DLA Piper date from his time at Dewey & LeBoeuf.
Worse, from a financial perspective, Dewey & LeBoeuf’s bankruptcy trustee announced that he would seek to claw back partner compensation from the years 2011 and 2012. This was especially onerous for Mr. Altorelli. At the firm’s request, he had agreed to be paid the $2 million in compensation due him in 2010 early in 2011, which pushed it into the clawback period. The trustee offered to settle with Mr. Altorelli for about $1.4 million, but wouldn’t exempt the $2 million. Mr. Altorelli refused to settle. The trustee subsequently sued him for $12.9 million.
Then there’s the Internal Revenue Service. As part of the bankruptcy proceeding, many of the firm’s creditors waived or reduced their claims. All canceled debt is treated as income to the firm for tax purposes, even though no money changed hands. Because Mr. Altorelli earned so much from the firm, his share of this so-called phantom income was correspondingly high. The I.R.S. is seeking tax on $8.9 million of income in 2011 alone.
Like many law firm partners, Mr. Altorelli had also borrowed his contribution of about $1.8 million to the firm’s capital. That was wiped out in the bankruptcy, and he now owes Barclays for the loan. He also lost his pension fund contribution.
The last straw for Mr. Altorelli came on Oct. 29, when a federal bankruptcy court judge ruled that the trustee’s lawsuit against Mr. Altorelli and other holdout partners could proceed.
Even though Mr. Altorelli earned over $13 million in four years at Dewey & LeBoeuf, in his bankruptcy petition he said he now had total assets of $1 million to $10 million and liabilities of $10 million to $50 million.
From Simple Carbs to Slow Carbs
With almost twenty percent of daily caloric intake attributed to refined sugars, Americans are consuming too many simple carbohydrates. This has major health implications and researchers believe that the rise in obesity and type 2 diabetes over the past twenty years is attributed to increased sugar consumption. The Glycemic Index (GI) was developed by researchers so that carbohydrate quality can be assessed and individuals can make better food choices.
What is the Glycemic Index?
Carbohydrates are broken down into glucose which is then released into the blood stream. In response, insulin is secreted by the pancreas which allows the body’s cells to uptake the glucose. The extent to which blood sugar levels rise and fall again depend on the type of carbohydrate eaten. From a health perspective, the body performs best when blood sugar is kept relatively constant.
The Glycemic Index (GI) was developed by Jennie Brand-Miller and her associates at University of Sydney as a method for classifying carbohydrate-containing foods. Although the GI is used widely in Australia and in Europe, it is not widely referenced on nutritional labels for food products in the U.S.
The Glycemic Index is ranking of carbohydrates on a scale of 0 to 100 according to how quickly they’re digested and the extent to which they raise blood sugar levels after eating. To determine a food’s GI rating, a measured portion of food containing 10 – 50 grams of carbohydrate are fed to 10 healthy people after an overnight fast. Blood samples are taken every 15-30 minute intervals over a period of hours. The average of the GI ratings is compared to a reference food (same amount of glucose) and multiplied by 100 to give a GI rating. Foods are then classified as being low GI (55 or less), medium GI (56-69) or high GI (70-99).
Low Glycemic Index foods contain slowly digested carbohydrates which cause blood sugar levels to rise more slowly. Most vegetables have a low glycemic index. Although fruits tend to be sweeter and therefore have a higher GI, their fiber content helps to slow the release of glucose into the bloodstream. This makes them a better alternative to fruit juices which elevate blood sugar levels more rapidly.
High Glycemic Index foods contain rapidly digested carbohydrates which cause blood sugar levels to rise more rapidly. Most processed, packaged foods including cereal, sweets, white bread and soft drinks, have a high Glycemic Index. Some foods like potatoes have a high Glycemic Index even though most vegetables have a low GI.
A diet high in carbohydrates, especially refined or simple sugars, subjects the body to spikes in glucose. In response, the body secretes more insulin and glucose levels plummet. Over time, the body’s ability to keep pace with an increased glucose load is more difficult. As a result, cell’s become insulin-resistant – or unable to use circulating insulin to uptake the glucose. This so-called pre-diabetic state, if not taken care of, can lead to diabetes, a chronic disease with major health consequences.
Recent scientific evidence has shown that individuals who follow a low GI diet over many years were at a significantly lower risk of developing both type 2 diabetes and coronary heart disease. High blood glucose levels or repeated glycemic spikes following a meal may promote these diseases by increasing oxidative damage to the vascular system and also by the direct increase in insulin levels.
What is Glycemic Load?
Glycemic Index is a great tool to measure the effects of certain foods on glucose blood sugar levels, but GI is deficient in measuring other types of sugar – such as the fructose contained in high fructose corn syrup, one of the most common artificial sweeteners found in many foods.
It’s difficult to use GI to predict an individual’s glycemic response, as many variables can alter the way an individual reacts to a food with a specific GI including blood glucose levels, how the food is prepared and stored, insulin resistance and the way that a mixed meal digests.
Glycemic Load (GL) is a tool designed to take into account the carbohydrate content of a food to better gauge the effect of a food’s GI. The measurement to determine GL is the quantity of the food’s carbohydrate content, in grams, multiplied by the food’s GI and divided by 100.
For example: a baguette has a GI of 95 and contains 50% carbohydrate content, so the GL is 48. Although a watermelon has a GI of 72, it only contains 5% carbohydrate content, so the GL is only 3.6.
While the Glycemic Index and Glycemic Load are useful tools to predict how carbohydrate consumption might affect blood sugar levels, they don’t encompass the broad range of the typical American diet. Many foods do not yet have GI values, and manufacturers are not required to make GI information available to consumers.
What Can You Do?
By making small dietary changes, you can still enjoy food without feeling deprived.
– Fruits and vegetables provide excellent nutrition because they are loaded with vitamins, minerals, antioxidants and phytochemicals. In addition, their high fiber content helps to release glucose more slowly, which provides more sustained energy.
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An Unfair Advantage
Pakland Cement: The story of Tariq Mohsin Siddiqui
Privatisation board approves talks with consortiums for sale of OGDCL, PPL and UBL
Restructuring the mill: PSM gets Rs18.5b cash support before sell-off
@Muhammad: My name is dewan ayub madni after read your comments in tribute express if you feel please contact me via my email
Extensive research. Kudos to the reporter.
They were arrogant, non-professional, disrespectful to their staff, spied on their professional staff by personal servants, and ran the organizations through their personal orders like kings than through systems and processes. Organizations are run through systems, and respected professional employees, than moods and imperial mindset. Yes, no doubt they invested on projects that helped people in need.
All things one side. what is the role of directors & the CEO who all takes high salaries, benefits (home rents. Children school fees. Up country n international trips. Travel bmw cars etc). are they not responsible for all the situatio? What they work? Friends should be limited in the business because they r just shareholder or director or manager, not owner. yd please think!
I worked at DFML in 1999-2000 with IM&S, the way they setup the Dewan sugar mill and DFML, is very impressive. They always encourage the socio-economic cultures and give benefit to local communities. I had a meeting with Dewan Yousif and observe him very keen and enthusiast person. Thanks to writer of this article who gave lot of information regarding this group.
Excellent research and report !
the dewans were good people.
Everything is in the hands of Allah, rise and fall of anyone :) One can only do his/her best .. but eventually Allah will decide one's future :)
good work of article writer. i observe unprofessional approaches of Mr Yousuf. 1st he lost his executioner Mr. Zia. he worked with good ideas with out idea executor. 2nd he comes in over confidence on his strength. Here i would recommend Mr Dewan Please show the names of that politicians infront of the nation. At last i would pray fro your come back and your success. keep faith on Almighty Allah not all faith on your strength. build a new team of competent people have winning horses in your team. Good Luck!
Worth reading article. We can conclude easily main reasons of going down economy by going through this few paragraph article. Lack of consistancy in policies Incompetent and greedy political leadership Political interference in all fields Ethnic grouping in buisness, jobs, politics this is not only the case but so many cases, engro chem, is one more example,by the grace of it survived. Only solution is competent and loyal leadership, which still not visible for even years and miles
Well researched and kept the interest of reader intact
Very well written article.
An excellent business case. Kudos to the writer. Great to see newspaper business sections actually printing something meaningful. My comments would be why didnt the Dewan group opt for equity financing instead of Debt. The stock Market was taking off and with low interest rate monetary policy investors would have been queuing to invest in high divident value stocks. I guess its about retaining control that sets back our seth owned companies. I would have spun off each company as a separate insulated entity so that a drag from one entity did not bring the group down.
It was a good real story and to much to learn from it.
Pleasantly, most of the comments, prayers and good wishes are in favor of Dewans. Mine too. The heading of the article is "The Rise and Fall of Dewans". I think it is not suitable. It should have been "The Dilemma of Dewans". Furthermore, . and fall . means the end of Dewans, which i dont think is the case. Prayers and good wishes of many people speak of the reputation of the family and good will they enjoy. I think Allah The Almighty will not let the prayers of many go waste and will restore the glory of Dewans, Insha Allah.
As regards to the Mr. , he did what he had to do under compulsion of his personality traits. He will have his reward.
All the prayers for "Great Dewans".
God Bless you and Dewanfamily
BZ is a goof if he reads this and does not who this "Sindh Politician" is.
I personally think he knows it all and subscribes to this method wholeheartedly.
its a sad story of ,a group whom I admire a lot and which came from nowhere and made its humble beginning with shear hard work and prayers.It became a conglomerate and went back into shadows. there are multifold reasons for this trauma: 1)sudden young deaths in the family of senior most persons. 2)too much expansion and too fast. 3)no family organogram/policies and or if any ,its implementation. 4)lack of leadership after deaths of top top men. 5)family politics mostly due to certain elements inside and outside family. 6)too many family directors of very young age with self egos 7)lack of professional education and few more which I don't want to write. 8)the most important was Bank loans. I have always seen the family as one of the most God gifted/God fearing one who shared their wealth with the government and common people as they all were religious and still are. bad decisions can be done by anyone but the correction was not done and if pointed out it became a matter of EGO. I earnestly wish and pary that Allah swt bring back the honour and wisdom to this group and all business groups of Pakistan and Deewan group becomes the leading conglomerate of Pakistan
Just a small note, it would be nice if you write only $ values or only Rs. values. Or, Rs. xxx ($xxx) in parenthesis. It got a little confusing to do conversions.
Mr DY drives around in a RR Phantom with an entourage of guards. He still lives very large. And apart from banks he owes many small vendors assorted sums of money. Many industry experts, bankers and businessmen attribute his fall to his arrogance and his uncontrolled temper. He was aggressive and rash, and now his companies and associated people will pay the price.
After reading the whole article I see one reason for the ultimate failure of Dewans: lack of political representation. If you want to flourish your business in this country, you need bureaucratic and political representation. Unless and until you are strong politically, you will die down ultimately. Take the example of Bahria Town tell the owners to stop infusing money in to the pockets of corrupt bureaucrats and politicians and see their lot after a few years! Pathetic system in this country !!
10703 white bridge lane, sugarand ,houston, Texas 77098 USA
Dear Sir, This world god created with day and night.This one creation explains the theory of life that day comes after the darkness.I wish they will come back. I would love to work with people like Dewans if there is an opportunity available. Razza Shaikh Email [email protected] Ceill: 0324-324-6164 & 0331-2500-792
In addition to my earlier comments and after reading further comments , specially of family infighting , draws the comparison to most rise and fall of Pakistani business houses and offcourse playing with fire of politics and mad rush for expansion . Look around the ones who have survived and flourished are the ones who were slow and steady. The turtle and hare story
No that's not a fact chachi,. Dewans had one of the brightest and most competent teams ever seen in the industry. For instance people like Azeem uddin, Farrukh Ansari. Moonis khan, Khawaja Saif, Ali uddin Ansari. Reality is when Cements and (Alasif, Bawany, & Khoski) we're forcibly compromised to be sold at paltry sums with zero liabilities for the BUYER. When the PMLN,s financial wizard DAR openly threatened to take Dewans to task, and then wickedly designed special tariffs to wipe out the group that never took out their profits out of Pakistan, the group that established umpteen philanthropic projects and helping establish set ups like SUIT of Adeeb Rizwi. Trust me none of the Dewans have Swiss accounts, they do not have property abroad , they do not have dual nationalities, they are being punished for being hard core Pakistanis by the stinking so called stalwarts of democracy. We as Pakistani have to think and evaluate what this sham democracy is giving us.. Loyal Pakistanis are being forced out. Point to ponder. One of the Dewans under threat has to live in exile. Do we need to have Sherlock Holmes to solve the riddle. I and all patriotic Pakistanis are for revival of Dewan group, which houses close to 10, 000 staff and workers. Let CJ take suo moto of clandestine affiliation of ICI and Concerned ministries high ups
An aggrieved patriot Pakistani - cue eff aiy
amazing and indeed excellent article i was always thinking on our ccu board name writen DEWAN MUSHATAQUE now came to know about this
A very well written article, a good case study for students and after reading this article one can see few simple mistakes that comes out to become major ones. They say never take an verbal assurance in business, every thing should be in writings. However its really sad that a Pakistani Group Collapsed like this. It should have not happened at all.
who cares of dewans, common man in Pakistan is only seeing rise of prices and fall of standard of life
Explains a lot why there aren't large conglomerates like Reliance or Tata in Pakistan. Govt intervention in every step of the way and involvement of influential political persons in businesses has destroyed our industry.
Its very informative that how a well estabilshed organization can be failed by using external factors through politics, Great Research & very well written
A very good effort on part of the writer to write an objective article on the Dewans. Though i have never worked with them but know people who worked very closely with them. And the feedback i got was that they were good hardworking and able business hands.
But one thing that the Dewans and all other business tycoons here in Pakistan have is the "seth syndrome" , which in my view is detrimental to their growth into regional or global powerhouses . They like to run businesses as their fiefdoms and don't realize the value an independent professional management can add to growth of business beyond a certain point . Until these big business houses learn that in order to grow big they have to share decision making with 'outsiders' , we will not be able to develop truly global Pakistani businesses powerhouses.
@Chachoo: Actually this is not the case that they were not hiring professionals. I was CEO (2002-2003) of one of their company and at that time three different CEOs were hired to run different companies. They had brilliant HR director and Business development Director. Dewan Yousuf always listened to his advisors and took consent of his brother before going ahead. It is the political instability which eventually cost them this group. Certain information and knowledge is not shared here for privacy matter I believe but there is alot to add in what actually had happened.
Excellent written article. this can be transformed to movie. it wud be great. May Allah help deewans to get back on their feet.
Awesome research, fantastically written.
I have been associated with the group since the 80s. For prsnl reasons i have not written my real name. I used to work for Dewan textiles in kotri. The textile division was headed by the sons of dewan khalid ( eldest bro of dewan umer farooque), the great late dewan ghulam mustafa and dewan ayub madni ( former chairman APTMA Sindh-Balochistan zone and FPCCI businessman of the year 1997). The two brothers were honest in their dealings, sincere and worked for the companies interest. They had a great sense of business knowledge and were competent, making dewan textiles soar to new heights. On the other hand dewan yousuf and zia were horrible businessmen. I have seen with my own eyes what dewan was and what dewan is thanks to dewan yousuf n zia. What was the need to expand to this extent? Kia and hyundai failed, dewan sugar mill the largest sugar mill in pakistan was in losses whereas all other sugar mills make high profits. What was the need to add the polypropelene plant? What was the need to set up dewan motor? What was the need to buy then n pakland cement? What was the need of buying the 3 sugar mills? What was the need Of setting up star motor bikes? And finally what was the need of the Acrylic plant? If you see each of the ventures mentioned above failed. I am not just saying things i support my arguments with facts.i have seen the business with my own eyes for 20 yrs. Dewan yousuf n zia were very poor businessmen. They could not handle the businessess they inherited and on top of that were digging their own grave witht the over exapnsion. It is true that the expansion caused all the fianancial problems and choked the working capital. What was the need? End result was 0. It is not the bankers fault. On top of this both yousuf n zia were corupt, taking out money from the group for personal expenses. Why did they have rolce royce cars when the company waz in financial crises? Even bug names in pakistani business circles like mian mansha, rafiq habib, sadruddin hashwani, iqbak lakhani, fawad sheikh do not own rolce royce cars, even thoigh their cpmpanies are doing so well. As far as politicians go they posted no threat to dewan. Yousuf was friends with musharraf and mohd mian soomro of pml q and was a minster himself twice. Zia had good links with army and dewan ayub was close to nawaz sharif. Yousif out of his greed forcifully outsted dewan mustafa and dewan ayub to take over the inventory of dewan textile and use it to finance his failed ventures. On this issue a fight broke out in 2007 after which dewan mustafa and dewan ayub parted ways wid da compny. These two bros were the only capable of the lot, after they left the losees of dewan started (2007). I repet that dewan zia n yousuf were very bad businessmen.
May Allah keep them happy, gv them success. AMEEN
All I know is that I MISS MY OLD COMPANY Dewan Farooque Motors Ltd.
No business could have survived rather flourished when looters and plunderers were presidents and prime ministers of the country.
The biggest curse to Zaradari was - somebody is drving a phantom from halal earnings from sugar mills in the country while he was the president --- how dare he -- take the sugar mills and off goes the phantom.
Pakistan lost all the Bawanis, Adamjees, Diwans, Hashims and many more. When vultures are present you only see the foxes, jackals and hyenas on the loose to share the carcass -- and we have tons of these scavangers in country.
May Allah help sincere peoaple like Dewans - In 90s I use to live in the same society some of these Diwans lived and witnessed thier humbleness and gratitiude to Allah first hand myslef.
Ohh it was like a movie. A very well written article
When you have to buy or sell anything in Dewan Group, you have to bribe the management from top to bottom. Such management practices normally lead to companies failure.
A very well versed gist of policonomics of Pakistan.tells why we are what we are
Funny how the company is protrayed as a victim of Politics while portraying itself as holier than thou and for that purpose it used the following excuse:
Almost every successful Pakistani business has had ties with some pre-partition trading community. Memons, Bhoras, Khoja Ismailis and Isnasheris, Chiniotis and Punjabi Sheikhs. The Dewans belonged to none. *
Everbody knows that in order to do business in Pakistan you simply cannot succeed and be a saint at the same time, everybody does dirty business under the sheets in order to out-do one another. That is simply how things work in Pakistan.
P.S A conglomerate that still employes 7k plus people is still far from what is called 'a downfall' in business terms. It is simply the recessionary period that started from 2007 onwards that hit ever major business group globally in terms of finance and slowed demand for their products etc. I belive the author does not know the meaning of 'rise and fall' and should try to study 'bear stearns' and 'lehmann brothers in order to know the full meaning or rise and fall.
interesting,informative and very well written article (Y)
@Chachoo: Late Dhiru Bhai Ambani who founded the Ambani group one of the largest business houses of India was a clerk in a shipping company it is called luck.
If, ". the weekend before the agreement was to be signed, DMG pulled out. This time political compulsion was involved. An influential politician in Sindh had asked Dewan Yousuf to handover the cement company and sugar mills – excluding the debt," then should not the present, business friendly government of PM Shariff, take steps to return the Mill to the rightful owner? ET just never does a complete investigative report. They provide information but never the complete picture. Did the reporter check with the present Minister responsible for trade if anything had been done about it? Did the reporter check with the PM's office to find out a) whether they knew about this b) if the PM's office was going to do anything about it? Approach the "influential politician from Sindh", to return what is not his? Complete the picture, ET!
This is an excellent piece on the rise of a business family that doesn't have a feudal background. This basically is similar to Sam Walton' story of success (owner of Walmart) but the pitty is that Dewan's were on the wrong side of the pond!
Good story, feels like written by one of the family members ! Everybody focusing on politician aquiring his industries without debts. Oh come on that particular politician did many things which are unjustified but can anyone justify that asking debt while riding phantom ? Watever the tragedy was, fact is they lost the trust of company main investers, and they were banks, so badly that they cant even have working capital. A new private sector company without name is mentioned. What i take as a lesson is "always do what you can do on your own i.e without debt atleast as an working capital" They could have made a consoritium/partners. or sell those non-profitmaking units pakland cement and automobiles without waiting any further just to focus on DSF which everyone thinks still has potential As far as their social work are considered yes they are great people
The Asia biggest Plant, The south regions first ever auto-mobile maker, the best quality product award, the innovation of taking your brand name to international community and getting investment. There is no math to that they were doing.
I am currently working in a company owned by Sir Dewan Zia ur Rehman and know how great man he is. I agree with Qazi sb that in country like Pakistan there is no stopping of bad politics in business. That so called politician was X-Environment Minister and then the X-President who ruined the business. But Dewans are still fighting and we the current employees have high hopes from them.
What a well researched article written and published by ET. Hats off. Please convince the brother to come back and help bringing back the good old days of this remarkable group. Looking forward to see dewans rising again and contributing to this country. Prayers for dewan family and "PRAYERS" for Zardari/Bhutto khaandaan.
it was great to read about a family which still is genuine to its name
very well written article.
A very nice article depicting what we do to the business community in our country as a nation. I would appreciate if the correspondent can do such profiles on other business groups as well.
Tough times never last, tough times do.
Very well written article. Bottom line is that our Businessmen spend more time on tax manipulation than real business. Couple of percentage change in tax would make or break them. In article I don't see any invention, trend setting or market strategies by this or any other group.
They have talented leaders but how can any company be competitive after paying regular and then the mr Ten percent fee.
Pakistani journalism at its best!
Brilliant article and very well written! Well done ET and the writer. Can we have more articles like this?
Very well written by Saad Hassan, hopefully it will opened eyes of other business people, not to be involved in politics, or even near to futile Political leaders, Need to write about some more business families,who also suffer like this.
We all admired the very well written research.Regarding hiring professionals i think Late Mr Umar did his metric when he joined the business.He did not learned how to do business from any business school.I think experience is the biggest teacher you can have in a country like Pakistan.Today we all know Dewan as one of the biggest defaulter because the mistake they made was reinvesting whatever they had in Pakistan. They did not transferred there wealth abroad.There mistake was not that they did not hired highly payed professionals but they gave jobs to people who were needy,who did not had any financial support or reference from any political leader for a job.They wanted the people of this country to benefit. This was one of the few groups of Pakistan who gave loan to the Government of Pakistan when the country was is need during the Nuclear test done by Nawaz Sharif. If they had given half of that loan to the politician as bribe they would have been in a better position today.That was the mistake they made. The biggest difference in Pakistan and our neighboring country is that there is no support from government.Rather they try to bring everyone down who is doing big. Finally i think Dewan has the potential to bounce bag and very soon Insha Allah we will all see this Group in its old postion.
Indeed a very good read, well researched. I remember once a traveled to Badin and on the way we stop over to Sujavel for friday prayers that was inside the beautiful housing compound of Devan.
Extremely well written article! The research was in-depth with selective words chosen in making this article so interesting and the reader gets so deeply involved, that without pause, read the entire article till the end. The whole story has one lesson can Pakistani businessmen one day get out of the chuckles of our politics and SROs. If we cannot make 'billionaires' in Pakistan, then we can never have a strong manufacturing based economy. Once again congratulations to the writer. ET is doing a wonderful work, well done.
being an auditor of DMG, i hardly see any unprofessional environment inside. Its moreover a political backstabbing then any lack of business sense.
@Chachoo: trust me chacho, they got more professional opinion then any other group in pakistan. irony is that professional opinion doesnot matters in political revenge games.
Extremely well written article! The research was in-depth with selective words chosen in making this article so interesting that the reader gets so deeply involved, that without pause, read the article till the end. The whole story has one lesson can Pakistani businessmen one day get out of the chuckles of our politics and SROs. If we cannot make 'billionaires' in Pakistan, then we can never have a strong manufacturing based economy. Once again congratulations to the writer. ET is doing wonderful work, well done.
Their life story shall be translated into a movie kinda like wolf of wall street for our future generation to follow and take examples and also for our people to support and appreciate the hard work people have put in.
P.s great article, very well written !!
A well written insight in the conglomerate ups and downs.
An inspiration that even when being in the eye of storm , the courage and perseverance of the man is still standing high to rebound and remake the history.
I only had a limited working exposure with them, for a services contract done in the period 2005-06, when maybe when they were booming with more and merrier, so good to know what was happening before, then and later behind the scenes.
A sad story of a big business owner family who did so well after migrating but suffered at the hands of politicians later on.It seems being politician is the guarantee to be a successful businessman to safeguard their interests that what lacked in Dewan group case i guess.
Very well written, but the the writer should clearly state which politician from sindh made the demands.
This is a very well written and thoroughly researched article. Would like to see more on different families and communities!
Very well written article and in depth analysis of the Group's rise and Fall. I have been working in this company for 11 years and it was probably the best organization. Dewan Yousaf had a vision and was persistent and still is persistant in getting back to his feet. May ALLAH give him the strength to fight back and make him realize that who is faithful and who is not.
Best of Luck Dewan Group. MAy ALLAH Help you :)
This article is written after proper research. I like the article and the history of Dewan Group. I came to know about is past, present and future endeavors.
Very well written article. Would be great if you could name the politician from Sindh who asked him for the handover. And also clarify if you mean 'front man' / 'king maker' or actual politician when you labelled the anonymous person as such - methinks the former.
I agree completely with Nasir Jardan about the competent leaders in the industry part. This is probably the biggest success factor in US and other business communites around the world. But I have to say here that this is the norm in Pakistan and the politicians played an important role in bringing down this group. The biggest problem as I see it is the group was protected from the start with tax exemptions and grew under protectionist measures. The company was not efficient in terms of making profits while following the same competition as all other companies in Pakistan do. This holds true for other companies and groups in Pakistan as well. The government needs to regulate an environment in which all of the companies and groups are subjected to the same competition.
However having said that the government also needs to put its nose out of the workings of the companies and politicians with all their connections do not need to poke in the business. This is a shameful act on behalf of the politicians and I am very much sad about how Dewan's were asked to handover the sugar mills excluding the debt.
Wishing well for this group and for Pakistan. I hope they will get back into the prime state they were in before.
Saad: I must say that I have never read such well written case study of the rise and fall of a Pakistani Conglomerate. A lot of credit also goes to express tribune to get this published. Reading the case study reminded me of giving Dewan's Cement Aquisitions as an overtrading example to the MBA students but had never imagined that it would happen so quickly!!
A very good article We do need good write up about the business leaders of Pakistan. . i will save it
A very well written article.
Kudos! A well researched article in ages, not what one expects from ET. Well done Saad.
Classic reason of huge unemployment in pakistan. Business are discouraged by politicians, governments, banks, talibans, extortion mafias, political and non political gundas.I fully believe that the Dewan's would rise despite the deceits of mir jaffars.
I think he joined the TJ and was an active member. He refused to accept bank loans on interests too !
After reading this article on Dewan Group, I recall when I first came to Pakistan from US back in 2002, a family friend of mine mentioned that Dewan Group is importing Rolls Royce etc. but there are other businesses who wants to see them checked. I first thought why do I care about Dewans or other businesses Pakistani business community lacks sense and honesty.
However, after reading this piece I agree with one of the comments made by Chachoo that Pakistan business community doesnt hire professionals as CEOs, CFOs, etc. Similarly, political parties don't elect competent leadership only famiky members become CEOs. It is like a norm there in Pakistan.
I believe there are ways to shore up some revenues for Dewan group. We have done it here in the US but things in Pakistan is that people there are not honest. And where honesty and integrity is missing people are reluctant to help.
I would suggest DEWAN YOUSAF and other DEWAN members to invest in new technology, R&D in fibre and other avenues including oil and gas reserves but get some credible CEOs and management just like we do it here in the US. The owner is a major share holder but doesnt need to interfere in management, can hire CEO, give them time and set reasonable, achievable goals.
Money can be poured in from the US investors, but for that build investor confidence first.
better than the usual crap ET is publishing every Sunday in the name of research. However, even this piece could have been a lot more meaningful if we could know the happening between 2008 and 2014!
Lesson to all, doing business in Pakistan is harder than building a house on the sun.
the business group that has contributed so much in health care. dewan coronary care,in karachi,sukkar hyderabad and many more
I personally know the whole family and infact have grown up watching their success. To begin with, big on welfare and philanthropy! They are honest and patriotic. I wish them all the best.
@hassan that why be careful who you make your enemy and friends. What the point of you story it is good story but what it's trying to accomplish.
Kudos to the writer. I for one, always wondered about the origin of Dewan Group.
From this article, it would appear that Dewan Group suffered an acute case of hubris, hence, their efforts to expand using debt financing. In other countries, such companies suffer when interest rates change or there is glut in the market from some other manufacturers. In this case, it looks like Dewan's tread on too many toes and were made to pay the price. Also as the writer mentions, they were the outsiders when compared against the other main industrial groups ethnicity.
that would make a very good story on what transpired behind the scenes between the rivals and the banks.
An influential politician in Sindh had asked Dewan Yousuf to handover the cement company and sugar mills – excluding the debt.**
A very well-written and well-researched story. It was fascinating to read. Really not what you'd expect given the quality of write-ups in ET in general.
If i would be a businessman with an Annual turnover of 665 Million US Dollars while my profit will stood at around 5.8 Million US $ then it will definitely sent shock waves within me. Their demise was actually started with declining profits and lower gross profit margins but nobody warned them and they did not foresee at all But for a migrant family from a small village near Patiala Punjab who came with nothing and then they established a huge business group in Pakistan is infact a great feat in my view.
The real problem with the business families in our country is simple. They dont want to hire competant CEO and Directors rather their sons and daughters are destined for top positions and the same thing happened with Dewan family and now we can see the outcome.
PPP and Zardari eventually took their revenge from this family.
I have very limited knowledge of the Dewans' businesses, but had first hand knowledge of their social philanthropy in Hyderabad Sindh . I was a resident in Cardiology at LMC Hospital Hyderabad when a Dewan was brought with a cardiac ailment. The family was impressed by the services provident by the late Prof A K Abbasi and acceeded to his request to establish a CCU there, which bears the name of late Deean Mushtaq. Also the Dewans almost singlehandidly financed the first ever international Cardiology Conference in Hyderabad. I had a front row seat to these two ventures, and know how it has helped Sindh, and thank them for it, and wish them well.
A very interesting account that was also well written. Props!
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