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Former <a href="http://www.businessinsider.in/searchresult.cms?query=goldman+sachs">Goldman Sachs</a> director <a href="http://www.businessinsider.in/searchresult.cms?query=rajat+gupta">Rajat Gupta</a>, who was convicted for <a href="http://www.businessinsider.in/searchresult.cms?query=insider+trading">insider trading</a>, walked out of jail after two years. 
 
India-born Gupta's, 67, prison term ended after a US court agreed to rehear his appeal to throw out his 2012 insider-trading conviction. 
 
Gupta was released on March 11 and had completed the last two months of his prison term at his home in Manhattan, after being released on January 5 from the Devens correctional facility in Massachusetts. 
 
He was confined to his apartment and was required to wear an ankle bracelet that monitored his movements. 
 The Harvard-educated Gupta was convicted in 2012 for passing confidential boardroom information to his one- time friend and business associate <keyword id="60455" type="PERSON" weightage="20" keywordseo="Raj-Rajaratnam">Raj Rajaratnam</keyword>, founder of <a href="http://www.businessinsider.in/searchresult.cms?query=galleon+hedge+fund">Galleon Hedge Fund</a>. 
 Apart from the two-year prison term, he was fined $5 million and the Securities and Exchange Commission also slapped a $13.9-million penalty against him. Rajaratnam is serving an 11-year sentence for <keyword id="6360088" type="ORGANIZATION" weightage="20" keywordseo="insider-trading">insider trading</keyword> in the main prison adjacent to where Gupta was assigned. 
 
Gupta's attorneys did not immediately respond to emails on whether he would make a statement following his official release. A January report in the New York Times had said that Gupta "appears to be eager to get back to the world he once inhabited". 
 
(Image: Indiatimes)

Insider-trading convict Rajat Gupta walks out of prison as a free man

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Lucas Jackson/ReutersFormer McKinsey CEO Rajat Gupta leaves his trial with his lawyer</div></div></div><ul class="summary-list"><li>Former McKinsey leader Rajat Gupta was one of the biggest names facing criminal prosecution following the global financial crisis, as he was tied to billionaire hedge fund manager Raj Rajaratnam's insider trading case.</li><li>In a book released earlier this year, Gupta still proclaims his innocence, blaming his conviction on the political environment in the country following the housing crisis; an aggressive federal prosecutor; and his "biggest regret of his life": not testifying at his own trial. </li><li>The book, called "Mind Without Fear", details Gupta's life, from his childhood in India, to Harvard Business School, McKinsey, the United Nations, and eventually, a federal prison in Massachusetts. </li><li><a href="https://www.businessinsider.com/prime">Click here for more BI Prime stories</a>.</li></ul>Even before a jury's decision in the summer of 2012, Rajat Gupta had lived a life that was worth writing about.The former leader of consulting giant McKinsey had advised billionaires like Bill Gates and Swedish heir Sam Wallenberg, knew presidents Bill Clinton and George W. Bush, served on the boards of Goldman Sachs and P&amp;G, and addressed the United Nations General Assembly.But his book, "Mind Without Fear", does not begin with a story about any of these people or even his childhood in India, where he was raised by a Bengali freedom fighter, or his time at Harvard Business School, when he was one of the few people of color at the school. It instead begins with him inside a federal prison in Massachusetts, on his way to serve the first of his two stints in solitary confinement for what he called a minor breach of rules (tardiness to a roll-call count). Gupta was found guilty of insider trading, with prosecutors saying he tipped off disgraced hedge fund manager Raj Rajaratnam with news of non-public information about Goldman, including Warren Buffett's $5 billion investment into the bank during the financial crisis. In the book, which was released earlier this year, Gupta is still adamantly denying he did anything wrong. Instead, he blames a host of factors for why he ended up spending two years in prison: former U.S. Attorney Preet Bharara's aggressiveness; the political climate against executives following the financial crisis; Goldman Sachs' former CEO Lloyd Blankfein; and his decision not to testify in his defense. In interviews with media outlets around the release of the book earlier this year, Gupta strikes the same tone, pushing back on any inkling that he helped Rajaratnam gain access to inside information."Bharara couldn't do what he was put in the job to do," Gupta said <a href="https://www.ft.com/content/bb5fb31c-4cb0-11e9-8b7f-d49067e0f50d">in an interview with the Financial Times</a> in March. "How can you have the perpetrators of the financial crisis, which is all the banks and the housing finance companies, and he couldn't bring one person to justice?"I can tell you that basically the incentives are misaligned. Most prosecutors have political ambitions. They want to win at any cost ... if an innocent person is proven not guilty or the jury say not guilty, it's a win for the prosecutor. They shouldn't take it as a loss. What they did [was] to spin a story which they knew was wrong."The book however details much more than just his side of the trial. It dives into the executive's life in prison, the people who stuck by him, and his feelings toward his old employer and Goldman.

Rajat Gupta is out of jail but still has some high-profile grudges. The ex-McKinsey head's book reveals his beefs with Lloyd Blankfein and Preet Bharara and celebrates his former life among the global elite.

When you begin to think greed is god, it is better to remember the case of <keyword id="139676" type="PERSON" weightage="20" keywordseo="Rajat-Gupta">Rajat Gupta</keyword> – an American <keyword id="6356391" type="POSITION" weightage="20" keywordseo="businessman">businessman</keyword> with Indian roots who was known for his smart business moves, as much as his jail sentence has left a lesson for those involved in trading. After having been a stupendous success story, Rajat Gupta is currently serving two year sentence in American Federal Prison for ‘<keyword id="6360088" type="ORGANIZATION" weightage="20" keywordseo="insider-trading">insider trading</keyword>’. 
 <keyword id="44734" type="ORGANIZATION" weightage="20" keywordseo="Indian-Government">Indian government</keyword>, after a long haul of nearly 23 years, has decided to take a relook at the norms for insider trading and make them more stringent so as to encourage fair play for all those involved in the stock market. 
 The new insider trading norms that come into effect from today, with far stricter provisions in many areas where there was a fair amount of ambiguity. The good news is, the revised and revisited provisions are on par with those in the US or UK. Really, India has finally woken up to the concept that ambiguity and unrevised laws since long, can harm the Indian markets in these days of <keyword id="47890" type="ORGANIZATION" weightage="20" keywordseo="global-economy">global economy</keyword> and improved reach. 
 Capital Markets Regulator, the <keyword id="6355630" type="ORGANIZATION" weightage="20" keywordseo="Securities-and-Exchange-Board-of-India">Securities and Exchange Board of India</keyword> (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) has created space to use the ‘prearranged trading plans’ that’s ubiquitously used in the US. However, any person who has remote knowledge of this through being an ‘insider’ or ‘connected person’ to this, certainly cannot revoke it or have numerous trading plans, whether over-lapping or not. 
 India’s approach to evolving this modified frame work can be termed rather ‘conservative-innovative’ with least space for errors. According to <keyword id="288165" type="PERSON" weightage="20" keywordseo="Somasekhar-Sundaresan">Somasekhar Sundaresan</keyword>, who was among the 18-member high-level committee that was set up to review and draft new regulations for India, the new framework is an evolution that will leave blood stains out of the markets. Partner at J Sagar Associates Law Firm, Sudaresan is a prominent name in the field of Financial Law and Financial Sector regulatory practice in India. 
 
“Yes, SEBI has opted for this approach. In the US, you can write and later cancel the plan. But, we have made it a bit water-tight in India. This is an innovation and we would like to view it that way. You can opt for a trading plan, alright. That’s optional and voluntary. But, what is mandatory is to follow it up without any alterations. What do you get in return? The satisfaction of having indulged in legitimate trading; no risks as far as law or legal aspects are concerned. In other words, there’s no blood on your hands. You are as clean as you got into it in the first place,” says Sundaresan. 
 The new framework has come into existence, exclusively to control the insider trading menace. The new set of norms make way for strict penal actions for transactions that are illicit, illegal or seem to have escaped the purview of law. Will this make market a difficult place? <keyword id="51958" type="ENTERTAINMENT" weightage="20" keywordseo="YES">Yes</keyword> and no. 
Insiders who are liable to possess UPSI (Unpublished Price Sensitive Information) have to formulate prescheduled trading plans and proceed accordingly. 
 
With the new set of norms, will provide protection to genuine trades and leave them aside. There is better clarity on concepts and definitions under the new set of norms that was much needed. They can be found under the name ‘Prohibition of Insider Trading Regulations 2015’. This would make matters better and easier even for those who are beginning to trade in the markets. 
 What prompted SEBI was the fact that insider trading was happening at much larger scale than stray individuals making money out of the loopholes in the 1992 framework. Just as India enters the phase of turning into a <keyword id="2853493" type="UNKNOWN" weightage="20" keywordseo="global-economy-leader">global economy leader</keyword>, and being in the ‘sweet spot’ <keyword id="219113" type="POSITION" weightage="20" keywordseo="looking-forward">looking forward</keyword> to sound economic future assuming a lead role, markets were the first place where the norms had to be made more stringent in order to keep the space clean for all the players and keep those away who were here for some mischief. Because a threat to <keyword id="34412" type="ORGANIZATION" weightage="20" keywordseo="economy">economy</keyword> of a country is best managed through markets and India had to reduce chances of this happening at whatever level through individuals or companies.

New ‘Insider Trading’ norms kick in; revamp after 23 years!

<ul><li><keyword id="19912128" type="General" weightage="20" keywordseo="chandra" source="keywords">Chandra</keyword> hit upon the idea to launch a TV channel after he saw big hotels showing CNN via satellite dishes during the Gulf War.</li><li><keyword id="19976119" type="General" weightage="20" keywordseo="zee" source="keywords">Zee</keyword> was India’s first private TV channel and had pioneered many superhit TV shows, reality shows and kickstarted the careers of many media barons.</li><li>Chandra entered the infrastructure business and planned a hostile takeover of IVRCL which failed.</li><li>By the mid-2010s, his new ventures had piled up a huge debt which pushed him to sell stake in crown jewel, Zee.</li></ul>Remember Hum Paanch? <keyword id="20328693" type="General" weightage="20" keywordseo="zee-antakshari" source="keywords">Zee Antakshari</keyword>? Phillips Top 10? These shows, now shared around social media by nostalgia lovers, were the first taste of Hindi TV programmes for many millennials. The generation saw the country move away from one or two channels with very limited entertainment programming; with the entry of private companies into satellite programming, forcing Indians to buy TVs that needed remotes. The man who made this revolution possible was Subhash Chandra, a bright young man from Hisar. Born into an Agrawal Bania family, Chandra entered into business early in his life, and in the 70s before TV wasn’t around in India. After his family business fell into debt, he had to abruptly leave college, go back to Haryana and work on repaying debts. He started off running a pulse polishing mill with moderate success, but his fortunes improved as he supplied grains to Food Corporation of India (FCI). By late 80s and early 90s, he was exporting rice and soybeans to Russia, and had also started a packaging company. It was all running smoothly, until one election season he saw that politicians were renting out vans with projectors and screens for their roadshows. He later learnt that Five-Star Hotels owned satellite dishes and were telecasting CNN during the Gulf War. That’s when the idea of broadcasting content with ads in between came to him, he told Outlook Business in <a href="https://www.outlookbusiness.com/specials-34/secret-diary-of-an-entrepreneur_2018/live-in-the-present-dont-recount-and-regret-the-past-4353">Secret Diary of Subhash Chandra</a>. <div type="image" title="hum paanch twitter" msid="107136147" hostid="261" caption="&amp;lt;p&amp;gt;Source: Twitter (Now X) &amp;lt;/p&amp;gt;"></div> The realm of reality TV As he went about it, he was laughed off by DD executives, who coolly told him that they employ hundreds of people and equipment worth thousands of crores. He then intended to lease a transponder in Hong Kong and broadcast from there. STAR’s Li Ka-shing was not so receptive to the idea of broadcasting business in India. After many twists and turns, he rented a transponder; and India’s got its first Hindi channel in the Star bouquet in 1992. Initially there was only three hours of programming, with reruns of old DD serials. But it soon branched<a href="https://www.livemint.com/Opinion/JV7xB6PWkkl5q2Glq8tT8K/The-zee-story-turns-20.html"> out with chat shows </a>like Chakravyuha. Many media barons like Ronnie Screwala who produced the chat show started their careers at Zee. Pritish Nandy also had a show on it called Fiscal Fitness. The hugely popular Aap Ki Adalat, which now airs on India TV, also debuted on Zee. Rajat Sharma, its popular interviewer, also expanded the group’s political vista. The Union Minister Smriti Irani was briefly a stringer for Zee News which was launched later by the group. She, however, also became the star of Star Plus’ super hit TV show Kyunki Saas Bhi Kabhi Bahu Thi in early 2000s. In addition to comedy shows, Zee diversified into drama shows like Neena Gupta starring Parampara in addition to <keyword id="20328692" type="General" weightage="20" keywordseo="zee-horror-show" source="keywords">Zee Horror Show</keyword>. Its hugely popular Antakshari show was hosted by stars like Renuka Shahane, Pallavi Joshi and Annu Kapoor. <div type="image" title="annu kapoor" msid="107136187" hostid="261" caption="&amp;lt;p&amp;gt;Source: Twitter (Now X)&amp;lt;/p&amp;gt;"></div> Bags of fan mail In spite of growing success, Chandra had to convince advertisers to shift from print and outdoor ads to TV advertising. He did it by lugging along bags of fan mail sent by viewers of his shows. By the time other players saw how valuable reaching all over India with Hindi shows was, he was miles ahead. He added more channels across movies, music in addition to news, across languages to his bouquet. By the time the world entered the new millennium, he had captured a large chunk of India’s eyeballs, not to mention hearts. The deal with Richard Li, son of Li Ka-shing also included an option to buy 25% stake in the venture within a year. By the time he realised it was good business, the option had long expired. Chandra refused to sell him the stake, took his company public, and the issue was subscribed 60 times over. The goatee-sporting man had become one of India’s first media barons and a billionaire. A failed hostile takeover By 2004, his media conglomerate was running steady, but Chandra, true to himself, was already hunting for the next big bet. The sector he chose was infrastructure. Back then, India was building roads, adding power generation as well as distribution assets, and setting-up ports and airports with a renewed fervour. Many small regional players like GMR and GVK became national companies after they won large-scale airport projects. It seemed like a good business. However, by the time Chandra entered it in 2008, the sector was showing signs of fatigue, due to credit crunch and more. Players were seeing the effects of adding heavy debt onto books. One such company was Hyderabad-based IVRCL which had a good set of projects, sizeable orderbook but was crushing under debt, in 2012. It was borrowing money for working capital purposes, and projects were moving ahead slower. Chandra believed that a hostile takeover of the company would catalyse its infra business which was executing a few highway projects. He went in and acquired a tad over 12% stake in the company when IVRCL too changed track. It stopped bidding for new projects, started monetising its projects and paring down its debt. Eventually Chandra had to sell off his stock at a loss. Takeovers are a high stakes game. Though the financials were never disclosed, the assumption, based on the company’s market cap at that time, he might have spent ₹200 crore on it. On the other hand, its own infrastructure business never scaled up later on, and continued to report deep losses for the next few years. It was a strategy gone wrong, as he later admitted in his open letter. Politics to pledging In 2016, Chandra made his political debut to become a Rajya Sabha MP representing BJP in Haryana. The close contest between him and the Congress candidate R K Anand was also interesting in other ways too. Chandra was declared winner after 14 votes were made invalid as they used the wrong pens. In 2022, Chandra changed his ‘native home <a href="https://www.newslaundry.com/2022/06/08/why-subhash-chandras-rajya-sabha-dreams-are-now-congresss-nightmares">town’ to Rajasthan</a> and filed his nomination as an independent candidate backed by BJP. He however accepted defeat after he fell short of over 40 votes. On the other end, his business was branching out into many businesses, with varying successes, soaking in capital. It entered financial services, acquired Peerless Mutual Fund, investment banking, private equity and much more. It went into education with a chain of K-12 schools, gold refineries in addition to related media businesses like Fun Cinemas and Dish TV. He also had plans for a wellness company. These expansions came at a cost, and a huge debt. The group soon had 87 operating companies which had straddled debt to the tune of ₹17,000 crore, as per estimates. How was so much money raised? The promoters had to pledge their shares in listed entities like Zee Entertainment, Dish TV, Zee Media Corporation, SITI Networks, <keyword id="19960022" type="General" weightage="20" keywordseo="zee-learn" source="keywords">Zee Learn</keyword> and Shirpur Gold refinery. Reports suggest that <a href="https://www.thequint.com/amp/story/news%2Fbusiness%2Fdoes-zee-news-need-a-commercial-bank-subhash-chandra#read-more">anywhere between 60-90% of their </a>shares in these companies were pledged with lenders in the mid-2010s. The chickens however came to roost in 2018 when the<a href="https://economictimes.indiatimes.com/markets/stocks/news/ilfs-crisis-spilling-beyond-finance-chandras-zee-feeling-the-heat/articleshow/67734787.cms?from=mdr"> NBFC IL&amp;FS bankruptcy spooke</a>d the markets, making it tough for him to rollover debt. The loss of crown jewel Soon, the promoters were forced to sell the stake that they had pledged. Zee’s promoter shareholding fell from 42% to a dismal 4% in its crown jewel, Zee Entertainment. In the meanwhile, its flagship Zee’s earnings also started dwindling, worrying analysts and investors; that led the market regulator to look into it. Between 2021 and 2023, its profits slid by 48%. In 2021, for the second time in two years, Chandra admitted to his mistakes that led to default. He announced <a href="https://economictimes.indiatimes.com/industry/media/entertainment/media/subhash-chandra-claims-91-debt-with-43-lenders-settled/articleshow/85007881.cms?from=mdr">that he had settled</a> 91% of his debts with 43 lenders. “I have no regrets for parting with a substantial ownership in the business and specially in the jewels of the crown,” he said in an open letter. Apart from the promoter crisis, the businesses were moving at a slow pace too. Satellite pay TV has become less attractive to viewers now used to streaming. Dish TV, owned by his brother, has been losing steam as well. Edtech is facing its own existential crisis. His digital ventures of Zee5 progressed but at a slow rate due to heavy competition. There are no updates on his plans for its metaverse venture, oddly named Maayaverse. On top of it, Zee’s plans to merge with Sony fell through, after two years of negotiations. Sony is also seeking a $90 million termination fee, which Zee intends to contest. That means more legal troubles, barely a year after it settled a dispute with J C Flowers, an asset reconstruction company. Chandra and his son Puneet Goenka are now part of a <a href="https://www.ndtv.com/india-news/sebi-subhash-chandra-punit-goenka-sebis-flowcharts-explain-how-zee-bosses-allegedly-faked-loan-recovery-4119857">probe by market regulator SEBI</a>, to see if money was siphoned off from the listed entities. That would be a tough spot to any businessman, let alone one who is devoid of crown jewels and without a seat in the parliament. SEE ALSO <a href="https://www.businessinsider.in/thelife/personalities/webstories/subrata-roys-journey-from-lucknows-sahara-shahar-to-londons-grosvenor-house-to-tihar-jail/slidelist/105234003.cms">Subrata Roy’s journey from Lucknow’s Sahara Shahar to London’s Grosvenor House to Tihar Jail</a>

From A to Zee: Subhash Chandra’s spectacular rise and fall

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>OVERLAND PARK, Kansas - Republican leaders have a new regular stop on their travel schedules these days.
Iowa. New Hampshire. And ... Kansas?
On this crisp October day, US Sen. Pat Roberts has brought in another member of the Republican Party's All-Star campaign team to stand by his side and rally his base. Sens. Ted Cruz and Tom Coburn, former Florida Gov. Jeb Bush, and Kansas' own former senator, Bob Dole, have all shown up for an appearance with a friend in trouble.
On this day, Roberts' guest is Rep. Paul Ryan (R-Wisconsin), the current chair of the House Budget Committee, likely future chair of the even more powerful House Ways and Means Committee, and former running mate to presidential nominee Mitt Romney. The scene is a makeshift press conference inside a Ramada Inn here in Overland Park, just around the corner from the hotel's pool and arcade.
In his opening statement during a press conference with Ryan, Roberts pauses to look into one of the cameras in the back of the room. His message to Kansas voters is quick and simple. It's also quite possibly true.
"This race will determine the Senate majority," he says at the press conference, with Ryan nodding alongside him. "And it is absolutely critical that we take back the Senate."
<a href="http://elections.huffingtonpost.com/2014/senate-outlook" target="_blank">According to The Huffington Post's</a> electoral model, Kansas has a better chance than any other state to single-handedly determine which party controls the Senate next year. This is problematic for Greg Orman, the businessman running as an independent in what recently became a head-to-head race against Roberts, who has been in Washington since 1981.
That's because according to a recent <a href="http://www.realclearpolitics.com/docs/2014/Remington_KS_101414.pdf" target="_blank">poll</a> from the Remington Research Group, 56% of Kansas voters prefer Republicans control the US Senate next year. Just 35% feel it would be best if the Senate remained in Democratic hands.
"We're going to win this race," Roberts promises. "And we're going to stop the Obama agenda. And we're going to do so because conservatives are uniting behind Kansas."
<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>
Increasingly, that prediction looks likely to bear out.
It's been quite a turn-around. Just three weeks ago, some polls showed Roberts trailing by double digits, and it looked like Democratic candidate Chad Taylor's decision to drop out of the race would hand Orman the seat. 
But while Roberts scrambled the GOP jets to meet the challenge, Orman took the opposite approach, largely shunning the press and staying out of the spotlight.
The polls are now virtually tied.
Combined with a rejuvenated and revamped Roberts campaign, it's clear the Republican has the momentum heading into the final two weeks of the race.
"Orman's going to have an incredible tightrope walk to keep his coalition together," Tom Jensen, the director of Public Policy Polling, told Business Insider in September, upon releasing a poll showing good standing for Orman.
Six weeks later, that tightrope walk is looking more precarious than ever.
"It seems," one Kansas Democratic strategist mused over the weekend, "like they're blowing it."
Orman, who entered the race in June took advantage of the primary to boost his own image with voters, spending $2 million in positive ads about himself, according to a source with knowledge of the race. Neither Roberts nor Taylor's campaigns laid a finger on him. 
At the same time, Roberts was mired in a brutal primary that left him badly damaged among his own base. But he nevertheless seemed safe until Democratic nominee Chad Taylor dropped out, <a href="http://www.businessinsider.com/kansas-senate-race-greg-orman-win-2014-9" target="_blank">shaking up the final two months of the race</a> and leaving Orman as Roberts' sole challenger.
"That's the No. 1 reason why you're in Kansas today," a source close to the Roberts campaign told Business Insider, referring to Orman's original spending on ads. "If that didn't happen, you would not be in Kansas. If he was spotted a half-million dollars vs. $2 million, you would not be in Kansas."
Orman slowly began winning voters over. By late August, after the primaries, polls showed him <a href="http://www.publicpolicypolling.com/pdf/2014/PPP_Release_KS_819925.pdf" target="_blank">grabbing</a> 23% of the vote in a three-way contest. Those same polls predicted that he'd win a head-to-head matchup, prompting calls for Taylor to step aside. 
"I think some people saw it as a shot to do something historic," one former adviser close to the Taylor campaign tells Business Insider.
But history hasn't been cooperative. What seemed like such a sure bet once Taylor dropped out has looked less certain recently. Orman, who once led by as much as 10 points, has crumbled under more intense scrutiny from voters and the press.
Roberts has embarked on a furious campaign schedule, oftentimes appearing with the other GOP stalwarts. Along with Cruz and Coburn, he traversed the state in a bus last week. 
Aside from public debates, meanwhile, Orman has largely kept quiet. When Business Insider contacted the Orman campaign ahead of our trip to Kansas, a representative originally responded that the campaign would be happy to try to make the senator available for an interview. After multiple follow-up emails over the next two weeks, however, the Orman campaign concluded that an interview couldn't be arranged.
The campaign also didn't respond to multiple emails asking whether Orman would appear at any public events last week. On Thursday, he was in New York for a fundraiser co-hosted by Jonathan Soros, the son of George Soros.
Fortunes have changed for Roberts since national Republicans decided to take control, around the same time Taylor dropped out of the race. They dispatched longtime Republican strategist Chris LaCivita to lend a hand, and Republican operative Corry Bliss soon took charge of the campaign's day-to-day operations.
In the weeks since, Roberts and his national Republican strategists have given the race a national focus. Roberts frequently mentions how the race is important to Senate control - Republicans need to swing six currently Democratic-held seats, plus hold all of their own seats, to win back the Senate. 
His campaign, meanwhile, has painted Orman as out of touch, a wealthy businessman who would be a rubber-stamp for President Barack Obama in the Senate. Orman has not said who he'll caucus with if elected, but his brief run as a Democrat in the 2008 Senate race has given Roberts' campaign ammunition. 
Orman has been hammered by revelations he <a href="http://online.wsj.com/articles/political-diary-who-is-greg-orman-1412711297" target="_blank">sat</a> on the board of a private-equity firm founded by Rajat Gupta, who was convicted in 2012 on charges of insider trading, and by <a href="http://www.politico.com/story/2014/10/greg-orman-kansas-2014-billionaires-111764.html" target="_blank">ties</a> to a group of big-spending donors trying to elect him to the Senate. Voters once viewed him by a widely favorable margin. But in the Remington poll, Orman's favorability rating is down to 43%. And the number of voters who view him unfavorably is up to 40%. 
"As we've begun to educate people about the real Greg Orman, his support has begun to rapidly decline," the source close to the Roberts campaign told Business Insider. 
<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div> 
There appears to be some truth to the claim. One voter, Sandra, a retired hospital worker and self-described Republican from the nearby small town of Paola, whom we met at a local McDonald's, said she'd been a fan of Orman before the race turned into a two-person contest and became increasingly partisan. 
She said there are certain advantages to having Roberts in a Republican-controlled Senate: his longevity and the fact that he would be in line for senior positions on certain committees. And she still feels like she doesn't really know what Orman would do as a senator.
"What really got me is when the Democrat dropped out," Sandra said. "It felt like it was coordinated. And I haven't seen much from Orman over the past few weeks."
 One public event at which he did end up appearing - Saturday's traditional Maple Leaf festival in Baldwin City - turned into an increasingly familiar round of poor headlines. 
Orman ran up to a woman sitting on the sidelines of the parade who had called out his name. She wanted to know his position on abortion. She gave him a firm handshake as he tried to back away without a response, repeating that she wanted to ask him a question. He told her his position was on his website, where he notes that it's "time for the government to move past this issue."
That stance seems unlikely to satisfy many socially conservative Kansas voters. Mary, a retired teacher from Wichita, Kansas, who did not want to disclose her last name, said it's too typical of Orman's positions on a variety of issues.
"It seems like he's taking a position while trying to not take a position," she said.

Senate Control Could Rest On One Of The Reddest Of Red States - And The GOP Is Making A Huge Comeback

<ul><li>India is sitting on a demographic time bomb. People over the age of 60 are expected to account for 25% of India’s <keyword id="48933" type="PERSON" weightage="20" keywordseo="population">population</keyword> by 2050.</li><li>The concept of <keyword id="2995734" type="PERSON" weightage="20" keywordseo="senior-living">senior living</keyword> has been gaining traction in recent years owing to the migration of Indians and the breakdown of the joint family model. </li><li>However, most senior care options are mostly geared towards the upper-middle class. The low-cost options leave a lot to be desired. </li></ul> My father was 64 when he had his first heart attack in September 2015. He downplayed the pain and told my brother and I, who were 23 years old at the time, that it was just acidity. We didn’t know better. Four days later, on his 65th birthday, the heart attack led to a stroke, which affected a small part of his brain that dealt with his speech and comprehension. Following his discharge from the hospital, my brother and I worked out an arrangement with our respective employers wherein we worked from home on alternative days so we could take care of him. My father slowly regained his verve and became somewhat self-sufficient by the end of 2015. However, he suffered another stroke and an epileptic seizure in April 2016. After my father suffered a third stroke in February 2017, the idea of putting him in an assisted living facility was floated by my uncle. My brother was living in Bombay by this point and I was spending more time at work so it seemed like the sensible thing to do. The concept of senior living, while relatively new to India, has been gaining traction in recent years and with good reason. There were 103.8 million citizens above the age of 60 in India in 2011, according to the Ministry of Social Justice and Empowerment, and the number is expected to reach 143 million by 2021 and 173 million by 2026. Concurrently, as nuclear families are in vogue, the safety net afforded to old people by the joint family model is disintegrating. India has also seen a wave of migration in the last few decades as young people have gone to big metros as well as foreign countries in search of better opportunities, leaving their parents behind. More and more old people are living alone- which makes them vulnerable to <a href="https://www.firstpost.com/india/increase-in-crimes-against-senior-citizens-in-chennai-forces-them-to-shift-to-retirement-homes-3109622.html">crime</a> and depression. And the problem will only get worse. People over the age of 60 are expected to account for 25% of India’s population by 2050. India’s emerging market counterparts like Brazil and China are also sitting on a similar demographic time-bomb resulting from decades of exponential economic growth, improved health outcomes and stretched budgets. While Western countries like the US and UK started laying the foundational groundwork for their senior care industries in the latter half of the 20th century, BRIC countries only began developing an industrial framework to address the problem in the recent past - that too, by encouraging foreign participation and co-opting the western model of senior living which marries real estate development with at-home care. The Senior Care Act The Indian government has made some noticeable interventions but they haven’t produced the desired results. For example, in 2007, there government of India passed the Maintenance and Welfare of Parents and <keyword id="20566" type="COMPANY" weightage="20" keywordseo="senior-citizens">Senior Citizens</keyword> Act. The act requires children to take care of their parents in <keyword id="6378960" type="UNKNOWN" weightage="20" keywordseo="old-age">old age</keyword>. It also mandates the establishment of old age homes by state governments. The act has failed on both fronts. Senior citizens neither have the knowledge of their rights or the will to take their children to court. As of mid-2017, only 360 homes had been built by state governments with central funding under the Integrated Programme for Older Persons (IPOP), according to data from the social justice ministry. India’s private sector takes the lead However, India’s private sector has spotted the gap in the market, taking inspiration from the US’s $300 billion senior living industry. By 2013, India had 30 assisted living projects in India, with another 30 in the pipeline, according to Jones Lang Lasalle, a commercial real estate firm. There are a number of developers building “retirement resorts” in North India to cater to the high-end segment. Max India, a <keyword id="6354525" type="UNKNOWN" weightage="20" keywordseo="healthcare">healthcare</keyword> giant, has a 200-block senior living facility called Antara on the outskirts of the city of Dehradun. Pitched as the confluence of lifestyle and life care, the community boasts state-of-the-art medical facilities with in-house doctors as well as a a fitness centre, which includes a gym, spa and a swimming pool. Prices for a property here start at a cool $300,000. However, the senior living trend actually took flight in south Indian states like Tamil Nadu, Karnataka and Andhra Pradesh, where a large number of non-resident Indians (NRI) hail from, before spreading to the North. In recognition of their high purchasing power, Covai Care, a Coimbatore-based developer, launched S3 Retirement Homes, one of India’s first retirement projects, according to its general manager, S Prabhakar, in 2007 to cater to this market. While the senior living market has doubled since then, says Prabhakar, it is still in a nascent stage. Covai Care primarily offers three forms of care facilities for its residents- assisted care for senior residents, palliative care for terminally ill patients and memory care for patients with dementia or Alzheimer's with properties in Bangalore, Mysore, Coimbatore and Pondicherry. The properties don’t come cheap either. With prices ranging from $60,000 to $150,000 depending on size, residents also have to pay around $270-$300 a month for medical and maintenance fees. Prabhakar maintains that these costs are in line with the average cost of living for these patients anyway. He also expects the demand for these properties to be robust, citing the increase in life expectancy and growing trend of senior citizens who crave independence. The middle ground India is striving to create cheaper offerings for the middle class too. Arun Gupta, the chief executive of Age Ventures India (AVI), a non-profit organisation that petitions builders to develop properties, echoes Mr Prabhakar’s beliefs about the industry’s prospects. “The senior citizen population is growing at a rate of 3.8% per annum, while the overall population of India is growing at 1.8%” he says. For a small consulting fee, AVI works with developers to build elder care homes and communities by sharing best practices and identifying project locations. These homes are modestly priced, with a 1BHK unit starting at $22,500 at the organisation’s first project in Bangalore. Ashiana Housing, a Delhi-based real estate developer, pitches its retirement communities to the middle class in tier-1 and tier-2 cities . The price ranges between $45,000 million and $100,000 for the units, and that demand for them follows the same pattern as the housing market. Amit Dogra, the sales manager for Ashiana's senior living segment, doesn’t think much of India’s cultural aversion to old age homes. “98% of our residents chose senior living independently. They were not forced by their children.” Abhishek Mohanty, a facility design and marketing consultant at Epoch Elder Care, feels otherwise. “Social stigma, especially from relatives, is more of a problem than affordability”, he says. “This is why we target higher-net-worth individuals and NRIs as they are more open to the idea of senior living and are willing to spend the money”. Founded in 2011, Epoch Elder Care originally started as a provider of home care services and personnel before transitioning into the assisted living space. It follows a rental model, entailing a one-time deposit and monthly rental fee, which is better suited to middle class customers. Epoch has three retirement homes with monthly fees of $1,800 for short-term single occupancy guests and $1,350 for long-term guests, which excludes the rather-high 18% GST rate on senior living. Around 60% of Epoch’s residents are dementia patients, which limits the amount of residents per facility. Mohanty is optimistic about his company’s prospects given the country’s increasing awareness about dementia and the growing number of senior citizens. By 2022, Epoch plans to have as many as 12 facilities, with an average of around 50 guests each, operating all over India. The sense of stigma attached to senior living, while declining, is still a consideration for the relatively well-off. Rachna (name changed), a corporate lawyer in her 40s, says that the decision to send her father to a retirement home outside Gurgaon last year was not an easy one. “My friends felt that I was relinquishing my sense of duty,” she said, “and my father likened the experience to being sent to jail”. However, she feels that it was the best option since she and her husband had full-time jobs and two teenage children to take care off. Now, her father, a former stroke victim and arthritis patient, benefits from round-the-clock care and companionship in the facility. No respite at the bottom Senior living seems to be an effective solution for people who can afford it, but for the hundreds of millions that can’t, their options are few and far between. At the lower end of the spectrum, the government-operated old age homes, which feature dormitories instead of rooms, are understaffed and in a deplorable condition, according to Matthew Cherian, the chief executive of HelpAge India. There are a number of cheaper nursing homes that are run by private owners, however quality is still an issue given the lack of government-imposed industry standards. And some of these also operate without licenses and accreditation. In 2012, <a href="https://timesofindia.indiatimes.com/city/pune/68-nursing-homes-dont-have-licences/articleshow/13238672.cms">68 nursing homes </a>were found to be operating illegally in Pune. A variety of non-profit organisations like HelpAge India also run and support old age homes, but the supply of beds in such homes is drastically outweighed by the number of people that need them. As I write this, it’s been more than 13 months since my father’s last stroke. He’s in good spirits. He’s been eating well and going for walks every evening with other senior citizens in our gated community in Gurgaon. He has moved past his initial resistance and softened his stance towards senior living facilities, in anticipation of my eventual departure from home. “If I have to go one day, I’ll go”, he says. “Maybe I can get my friends to come with me too”. If only other Indians like him had the same option.

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