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THE JOURNEY THROUGH TIME

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Explore the people, places, events, achievements, struggles and stories that shaped our journey.

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MY'STORY

The MOVE Fire

This is a personal recollection on the Move fire on May 13, 1985 Philadelphia police fired thousands of rounds at the MOVE house, city officials approved dropping an explosive device on the roof, the resulting fire was allowed to burn, 11 people—including five children—died, and 61 homes were destroyed. Philadelphia City Council later called it a “brutal attack carried out by the City of Philadelphia on its own citizens” and acknowledged that no individual faced criminal consequences for the bombing. One timeline correction worth preserving for the BHP record: the major previous MOVE-police confrontation was August 8, 1978, about seven years before the bombing, not a year or two earlier. Officer James Ramp was killed, other police and firefighters were wounded, nine MOVE members were later convicted, and television cameras recorded police beating Delbert Africa during his arrest. The 1985 MOVE Commission later specifically criticized city planners for failing to adequately use lessons from that 1978 confrontation. And that actually strengthens the point you’re making: 1985 did not happen without precedent or institutional memory. There had already been a deadly confrontation with MOVE, years of conflict, negotiations and police involvement before Osage Avenue.

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BLACK FACTS
The Truths They Never Taught You...

Katherine Johnson — Mathematics to the Moon

Katherine Johnson’s mathematical calculations helped guide some of America’s most important early space missions while she confronted the racial and gender barriers faced by Black women in twentieth-century America.

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BHP gathered finds from its connected research sources. Showing the 4 strongest Black History matches.
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Wikipedia

Max Group

Max Group
TypePublic
IndustryConglomerate
Founded1985; 41 years ago (1985)
FounderAnaljit Singh
HeadquartersMax House, New Delhi, India
Area served
India
Key peopleAnaljit Singh (group chairman)[1]
Rahul Khosla (group president)
Mohit Talwar(group vice-chairman)
Products
RevenueIncrease US$3.2 billion[2] (2019)
Number of employees
27,000 (2019)[3]
Subsidiaries

Max Group is an Indian conglomerate headquartered in New Delhi, operating in the fields of life insurance, real estate and independent senior living.[4] It was founded in 1985 by Analjit Singh.[1]

Max Group companies include Max Financial Services, Max Estates, and Max India.[5]

History

[edit]

Max Group traces its origin to the company inherited by Analjit Singh in 1985, following the death of his father Bhai Mohan Singh, founder of pharmaceutical company Ranbaxy Laboratories. Then named Max India (same as that of the current publicly listed Max Group company), it started life as a manufacturer of an active drug compound for penicillin.[6] In 1993, the group ventured into telecommunications by forming a joint venture with Hutchison Asia Telecom Group, called Max Telecom. Max Telecom was later sold to Vodafone and became Vodafone India.[7] The group shifted its focus from being a B2B to B2C company in 2000, by foraying into the fields of healthcare and life insurance.[8] Axis Max Life Insurance was founded in 2000.

Structure

[edit]

Three publicly listed holding companies fall under Max Group: Max Financial Services, Max Estates and Max India. The three holding companies have their own separate subsidiaries. The structure is as follows:

Max India

  • Antara Senior Living (senior living)

Max Financial Services

Max Estates

  • Max Asset Services (real estate services)
  • Max I. Limited (venture capital)

Governance and financials

[edit]

The group is led by Analjit Singh and a board of directors. Each holding company under the group operates independently and has its own board of directors and shareholders.[9][10] In 2019, the group posted revenues of $3.2 billion.[11]

References

[edit]
  1. ^ a b Aug 2019, ET Now | 07; Ist, 09:51 Pm (7 August 2019). "Max Group has absolutely no plan to exit life insurance business, says Analjit Singh" – via economictimes.indiatimes.com.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  2. ^ "Max India Limited Reports Strong Q3FY2020 Financial Results; Max Healthcare's EBITDA of Rs. 121 Cr., Grows 92%".[dead link]
  3. ^ "About Us". Max Group.
  4. ^ Thacker, Teena (30 April 2019). "Analjit Singh offers exit to Max shareholders, plans new businesses". Livemint.
  5. ^ Reporters, B. S. (16 January 2016). "Max India wraps up three-way demerger". Business Standard India – via Business Standard.
  6. ^ Kumar, Rohit; Dutta, Swarup Kumar (2019). "Max India Group: How to Create a Culture of Maxism?". Emerging Economies Cases Journal. 1 (1–2): 43–51. doi:10.1177/2516604219889241. S2CID 213866627.
  7. ^ Shauvik Ghosh (10 February 2012). "Analjit Singh to be chairman of Vodafone India". Livemint.com. Retrieved 1 May 2020.
  8. ^ Barman, Arijit (22 January 2018). "Max India: KKR set to back Max India promoter Analjit Singh with Rs 2,000-crore liquidity infusion - The Economic Times". The Economic Times. Economictimes.indiatimes.com. Retrieved 1 May 2020.
  9. ^ "Max India to venture into new verticals after divesting insurance, healthcare business". 29 April 2019.
  10. ^ "Max India shares to trade ex-demerger from 27th Jan". @businessline. 20 January 2016.
  11. ^ "Max Financial Services H1FY20 Consolidated Revenue Grows 10% to Rs. 8,635 Cr.; Max Life Reports Strong Growth in Sales, Value of New Business and Margin". Outlookindia.com. Retrieved 1 May 2020.[dead link]

Source: Wikipedia. Article content is retrieved live through the MediaWiki API.

Wikipedia

Max Group

Max Group is an Indian conglomerate headquartered in New Delhi, operating in the fields of life insurance, real estate and independent senior living. It was founded in 1985 by Analjit Singh. Max Group companies include Max Financial Services, Max Estates, and Max India.

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Wikipedia

Axis Max Life Insurance

Axis Max Life Insurance Limited (formerly known as Max New York Life Insurance Company Limited and Max Life Insurance Company Limited) is an Indian life insurance company headquartered at Gurugram. It is an 80:20 joint venture between Max Financial Services and Axis Bank. The company is a subsidiary of the publicly listed Max Financial Services. It was founded in 2000 after the liberalization of the insurance sector in India and its operations began in 2001.

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Wikipedia

Financial impact of the Boeing 737 MAX groundings

The Boeing 737 MAX groundings had a deep financial effect on the aviation industry and a significant effect on the national economy of the United States. No airline took delivery of the MAX during the groundings. A grounding of the 737 MAX 8 lasted between 13 March 2019 and 18 November 2020 and a shorter grounding for the 737 MAX 9 between 6 January 2024 and 25 January 2024. Boeing slowed MAX production to 42 aircraft per month until January 2020, when they halted until the aircraft was reapproved by regulators. Boeing has suffered directly through increased costs, loss of sales and revenue, loss of reputation, victims litigation, client compensation, decreased credit rating and lowered stock value. In January 2020, the company estimated a loss of $18.4 billion for 2019, and it reported 183 canceled MAX orders for the year. In February 2020, the global COVID-19 pandemic and the resulting travel bans created further uncertainty for Boeing. In March 2020, news that Boeing was seeking a $60 billion bailout caused a steep drop in its stock price, though Boeing eventually received $17 billion in funds from the coronavirus stimulus. Its extensive supply chain providing aircraft components and flight simulators suffered similar losses, as did the aircraft services industry, including crew training, the aftermarket and the aviation insurance industry. At the time of the recertification by the FAA in November 2020, Boeing's net orders for the 737 MAX were down by more than 1,000 aircraft, 448 orders canceled and 782 orders removed from the backlog because they are no longer certain enough to rely on; the total estimated direct costs of the MAX groundings were US$20 billion and indirect costs over US$60 billion. On January 7, 2021, Boeing settled to pay over $2.5 billion after being charged with fraud.

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Wikipedia

Max Levchin

Maksymilian Rafailovych "Max" Levchin (born July 11, 1975) is a Ukrainian-American software engineer and entrepreneur who is the co-founder and CEO of Affirm, a buy now, pay later financial services company, and co-founded PayPal as Confinity in 1998, leading the company as chief technology officer before its acquisition by eBay in 2002. At PayPal, Levchin made contributions to PayPal's anti-fraud efforts and was the co-creator of the Gausebeck-Levchin test, one of the first commercial implementations of a CAPTCHA challenge response human test. Levchin was a producer for the movie Thank You for Smoking.

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TOPIC OF THE DAY

Greenwood / Black Wall Street

Before the 1921 destruction of Tulsa’s Greenwood District, Black residents had created a remarkable center of business and community life. The district included stores, professional offices, entertainment venues and homes owned by Black citizens. Understanding Greenwood means learning what was built—not only what was burned.

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TRIVIA QUESTION OF THE DAY

What prosperous Tulsa district became widely known as “Black Wall Street”?

The Greenwood District.