Mother Dies Amid Abuses in $110 Billion U.S. Stent Assembly Line; hospitals paid millions in kickbacks to induce doctors to keep up the pace in U.S. medicine’s binge on stents

Mother Dies Amid Abuses in $110 Billion U.S. Stent Assembly Line

Najam Azmat snaked a catheter on a guide wire into Judi Gary’s groin as he tried to insert a stent in an artery supplying blood to her pelvis and right leg. On an X-ray monitor near where Gary lay, nurses saw blood leakages. The wire seemed to be in the wrong place, nurse Evan Gourley told Azmat. Everything was fine, the vascular surgeon replied. It wasn’t. Azmat tore Gary’s aorta during the December 2005 procedure, according to documents filed with a U.S. Justice Department civil complaint. Nurses asked another surgeon to step in. Gourley left in disgust. Later, he went to administrators at Satilla Regional Medical Center in Waycross, Georgia, with a warning about Azmat. “I told them that he will kill a patient if they let him continue to work,” Gourley said. Officials at the Satilla hospital got at least seven similar warnings about Azmat, according to another nurse’s notes. They let him continue. One of his next patients died. Azmat’s tenure at the 231-bed hospital, as described in interviews and more than 1,000 pages of medical records, internal documents and witness statements that were made public last year, shows the extremes one hospital went to in order to keep its catheterization clinic — or “cath lab” — operating and producing revenue. Other hospitals paid millions in kickbacks — using ghost jobs, padded fees, debt forgiveness or discounted office space — to induce doctors to keep up the pace in U.S. medicine’s binge on stents, according to allegations made in five federal cases and three other private whistle-blower lawsuits. Read more of this post

European Billionaires Surface Holding Stakes in Family Companies

European Billionaires Surface Holding Stakes in Family Companies

A bull market for luxury goods and rising demand for construction equipment and laboratory services has minted three new European billionaires who hold stakes in family-controlled businesses. The fortunes of Marina Giori-Swarovski, an heiress to the Swarovski crystal fortune; Mark Bamford, the youngest son of the founder of U.K. backhoe maker JCB Service; and Gilles Martin, who controls French food and drug tester Eurofins Scientific, have each surpassed $1 billion this year, according to data compiled by Bloomberg. None have been cited individually as billionaires on an international wealth ranking. Read more of this post

Hong Kong Raises Haircut On Treasury Bill Collateral Over Debt Default Fears

Hong Kong Raises Haircut On Treasury Bill Collateral Over Debt Default Fears

Tyler Durden on 10/10/2013 07:44 -0400

While there is hope that DC will engage in its favorite, can-kicking activity any minute and if not resolve then at least push back the funding and debt ceiling stalemate by a few weeks, the reality is that without a deal in seven days, there may be no cash to pay down maturing Bills starting with the October 17 issue whose yield soared to nearly 50 bps yesterday. The reason for the capitulation as was revealed yesterday, is that various money market funds such as Fidelity’s have been selling all paper around the X-Date. This morning the contagion surrounding the use of Bills as collateral has crossed the Pacific, following news that the “Hong Kong’s futures and options market operator will require traders to put up more collateral when using some Treasury bills to back their positions, citing concern that the U.S. is at risk of a default.” In other words, as we forecast on Monday, the debt-ceiling confusion in cash-land has now openly engulfed the repo market, which only makes the states of a debt deal that much higher. Because if the repo, $2.5 trillion money market, and subsequently, the entire $80 or so trillion custodian market freeze up, what happens next will make Lehman seem like a quiet walk in the park. Read more of this post

Google Earth Saves Kenyan Elephants With Drones in Maasai Mara

Google Earth Saves Kenyan Elephants With Drones in Maasai Mara

Standing in his flatbed truck, Marc Goss touches “take off” on his iPad 3 and a $300 AR Drone whirs into the air as his latest weapon to fight elephant poachers around Kenya’s Maasai Mara National Reserve. “It’s an arms race,” said Goss, whose green khaki clothing shields him from thorny acacia branches in the 30,000 hectares (74,132 acres) of savanna he protects. “We’re seeing larger numbers of poachers.” Read more of this post

Password or fingerprint? 53 percent of Americans said they would be willing to replace their passwords with fingerprint scans

PayPal study finds consumers okay with biometrics

By Hayley Tsukayama, Published: October 9

Apple’s newest iPhone may have spurred some debate over whether it’s a good idea to unlock your phone with your fingerprint, but a new study from PayPal finds that a majority of Americans are comfortable with the idea of using their biometric information instead of the pesky passwords that are currently the norm. The survey, sponsored by PayPal and the National Cyber Security Alliance, found that 53 percent of Americans are “comfortable” replacing passwords with fingerprints, 45 percent would opt for a retinal scan, and 41 percent are comfortable with photo identification. Read more of this post

Tongyang chief, wife on travel ban for alleged fraud and breach of trust

Tongyang chief, wife on travel ban

Oct 10,2013

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A woman cries at a rally protesting the financial regulator’s lax oversight of the Tongyang Group’s sales of commercial paper and bonds yesterday at the Financial Supervisory Service in Yeouido, western Seoul.

Prosecutors Tuesday prohibited Tongyang Group Chairman Hyun Jae-hyun and Tongyang Securities CEO Chung Jin-seok from leaving the country, a day after the Citizens’ Coalition of Economic Justice, a civic group, filed a complaint against them for alleged fraud and breach of trust. Hyun’s wife, group vice chairwoman Lee Hae-kyung, and Tongyang Networks CEO Kim Chul are also forbidden from going overseas. Hyun and Lee, daughter of group founder Lee Yang-koo, as well as senior executives at the group, are suspected of selling high-risk bonds to individual investors until just before the financial collapse of five affiliates that filed for court receivership last week.  Read more of this post

Dilbert Creator Scott Adams Presents His 10 Favorite Strips

Dilbert Creator Scott Adams Presents His 10 Favorite Strips

JENNA GOUDREAU OCT. 9, 2013, 6:12 PM 14,194 12

Dilbert, the well-known comic strip by cartoonist Scott Adams about the office everyman and his crew of incompetent colleagues, was the first syndicated comic that focused primarily on the workplace when it launched in 1989. Five years later, it had become so successful that Adams quit his corporate career to work on it full-time.  It wasn’t a straight line to success. Early versions of the comic were rejected by several publications, including The New Yorker and Playboy. It wasn’t until an editor at United Media saw it and recognized her own husband in the character that it finally got its start, says Adams in his upcoming book “How to Fail at Almost Everything and Still Win Big.” Ever since, the comic has explored topics like the inefficiency of meetings, the uselessness of management, and the absurdity of office politics. Exclusively for Business Insider, Adams looked through the archives and shared his 10 favorite Dilbert comics. Below, he explains why he chose each and counts them down to his absolute favorite of all-time.

10) Oct. 10, 2009: “Dream job”

dream job

Courtesy of Scott Adams

“This comic causes the reader to imagine a funny future in which Wally will only pretend to do the assignment. Humor sometimes works best when one suggests what is coming without showing it. People laugh harder when they need to use their imaginations to complete the joke. “I also like comics in which characters are unusually happy about something trivial, evil, or selfish. That juxtaposition is always funny to me. “Another technique I often use involves characters saying things that should only be thought. That creates the inappropriateness that gives it an edge.” Read more of this post

Why Are Hundreds of Harvard Students Studying Ancient Chinese Philosophy?

Why Are Hundreds of Harvard Students Studying Ancient Chinese Philosophy?

By Christine Gross-Loh

Picture a world where human relationships are challenging, narcissism and self-centeredness are on the rise, and there is disagreement on the best way for people to live harmoniously together.  It sounds like 21st-century America. But the society that Michael Puett, a tall, 48-year-old bespectacled professor of Chinese history at Harvard University, is describing to more than 700 rapt undergraduates is China, 2,500 years ago. Read more of this post

No, dear, it’s still Jimmy’s Choos: Tamara Mellon built the brand but didn’t get the credit. Here’s why.

Updated: Wednesday October 9, 2013 MYT 12:41:31 PM

No, dear, it’s still Jimmy’s Choos: She built the brand but didn’t get the credit. Here’s why.

SOUR grapes. That’s the handy idiom that means “unfair criticism that comes from someone who is disappointed about not getting something”. That’s the spot-on description of Tamara Mellon’s autobiography. If you thinking, “Tamara who?” – that is exactly why she is sour as hell. Okay, how about Jimmy Choo? Yes, our famous Malaysian Datuk and the brand of expensive shoes that bears his name. For the uninitiated, Tamara Mellon is a 46-year-old British woman who co-founded Jimmy Choo Ltd in May 1996 with Choo and developed it into the mega brand it is today. She has just released her tell-all book called In My Shoes this month. Even though she sold the company for £100mil (RM514mil) in 2011, it doesn’t seem to have cured her of long pent-up frustration and bitterness over many people. Read more of this post

Who Discovered America?: The Untold History of the Peopling of the Americas

Who Discovered America?: The Untold History of the Peopling of the Americas Hardcover – Deckle Edge
by Gavin Menzies  (Author) , Ian Hudson (Author)

Who discovered America

Greatly expanding on his blockbuster 1421, distinguished historian Gavin Menzies uncovers the complete untold history of how mankind came to the Americas—offering new revelations and a radical rethinking of the accepted historical record in Who Discovered America? The iconoclastic historian’s magnum opus, Who Discovered America? calls into question our understanding of how the American continents were settled, shedding new light on the well-known “discoveries” of European explorers, including Christopher Columbus. In Who Discovered America?he combines meticulous research and an adventurer’s spirit to reveal astounding new evidence of an ancient Asian seagoing tradition—most notably the Chinese—that dates as far back as 130,000 years ago. Menzies offers a revolutionary new alternative to the “Beringia” theory of how humans crossed a land bridge connecting Asia and North America during the last Ice Age, and provides a wealth of staggering claims, that hold fascinating and astonishing implications for the history of mankind.

Read more of this post

Does this map from 1418 prove historian’s controversial claim that the New World was discovered by the Chinese 70 years before Columbus?

Does this map from 1418 prove historian’s controversial claim that the New World was discovered by the CHINESE 70 years before Columbus?

Gavin Menzies, a British historian, claims Chiense Admiral Zheng He set up colonies and sailed round South America before Columbus

Menzies’ new book, ‘Who Discovered America?’ also claims the Chinese have been sailing to the New World since 40,000 BC across the Pacific Ocean

His theories are not widely accepted by academia and he has been labeled a ‘pseudo-historian’

By MICHAEL ZENNIE

PUBLISHED: 12:42 GMT, 8 October 2013 | UPDATED: 14:06 GMT, 9 October 2013

A copy of a 600-year-old map found in a second-hand book shop is the key to proving that the Chinese, not Christopher Columbus, were the first to discover the New World, a controversial British historian claims.  The document is purportedly an 18th century copy of a 1418 map charted by Chinese Admiral Zheng He, which appears to show the New World in some detail. This purported evidence that a Chinese sailor mapped the Western Hemisphere more than seven decades before Columbus is just one of Earth-shattering claims that author Gavin Menzies makes in his new book ‘Who Discovered America?’ – out today, just in time for the Columbus Day holiday. ‘The traditional story of Columbus discovering the New World is absolute fantasy, it’s fairy tales,’ Mr Menzies told MailOnline.

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Mr Menzies believes that this portion of the map depicts the Chinese mapping of North and South America in 1418 – showing major rivers.

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Explorer: Chinese Admiral Zheng He is known to have sailed the to Europe and Africa with a massive fleet of ships. Historian Gavin Menzies says he also reached the New World Read more of this post

Ajay Bijli, the owner of PVR Cinemas, lives the good life but on three principles: It must be understated, serve a functional purpose and have aesthetic value

Ajay Bijli’s Pursuit Of Simple Luxury

by Ashish K Mishra | Oct 9, 2013

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Ajay Bijli, the owner of PVR Cinemas, lives the good life but on three principles: It must be understated, serve a functional purpose and have aesthetic value

A diamond-studded watch, a private island, a business jet, a chauffer-driven super luxurious car, bespoke anything—luxury is limited only by the imagination. And by the depths of your pocket. Ajay Bijli, 46, an entrepreneur who has made a fortune for himself building PVR Cinemas into India’s largest chain of multiplexes (with a turnover of around Rs 1,100 crore) has no such constraints. But, he says, “I am just very reluctant to talk about it because there is no end to luxury.”  Read more of this post

On idioms and political speech: Shooting skinned cats in a barrel

On idioms and political speech: Shooting skinned cats in a barrel

Oct 9th 2013, 15:32 by L.D. | NEW YORK

FLULA BORG, a German DJ and comedian, has recently attracted millions of hits on YouTube with his hilariously confused rants about English idioms. In a video about the expression “shooting fish in a barrel”, Mr Borg seems utterly perplexed. “If I can catch all of the fishes and then put them in barrel, I don’t need to shoot them…that is like, ‘Oh, you know, I have some cake, but I do not just eat it. No, no. I put the cake in a barrel, then I shoot it then I eat it. Those are…two steps addition that you do not need.” He was also particularly upset after he received a text from a girl and his friend said, “Aww, Flula got a booty call!” It was not a booty that was calling him, Mr Borg insisted; it was a person who was texting him. “Booties make call? How the possible of this? … In a science way, show to me how it working.” Read more of this post

Forecasting beset by tendency to think we are good at predictions

Last updated: October 9, 2013 8:13 pm

Forecasting beset by tendency to think we are good at predictions

By Claire Jones, Economics reporter

When it comes to predictions about the economy, our judgments are flawed partly because human beings tend to think they can predict the future better than they can. A speech in May by Ben Broadbent, an external member of the Bank of England’s Monetary Policy Committee, made reference to research by psychologist Daniel Kahneman that highlights the human predilection for seeing patterns in randomness, and drawing inferences from these “patterns” to say what will happen next. Read more of this post

From sideline to livelihood: Four business founders talk about turning a personal interest into their main source of income

October 9, 2013 3:59 pm

From sideline to livelihood

By Ian Sanders

In a warehouse on a former pig farm in rural England, Matt Lane is packing up boxes of beer. The founder of BeerBods, a beer club that sends subscribers a selection of beers from independent breweries, was a marketing executive at a small UK phone company until he quit at the start of the year to become a full-time entrepreneur. When he started, Mr Lane had no intentions for the club for friends and family to become a business. “I threw a website up and it ran away with itself – in six months we had 1,000 subscribers,” he says.

Read more of this post

The case of the CEO who didn’t like young people: Real-life leadership dilemmas to learn from

The case of the CEO who didn’t like young people: Real-life leadership dilemmas to learn from

Rick Spence | Published: 09/10/13
Did you hear the one about the CEO who didn’t like young people? Sorry, this isn’t a joke. It’s a true story, and not very funny. This CEO was so convinced that today’s Generation Y workers are lazy, disloyal, and spending all their time on “Spacebook,” that he endangered the future of his business. The cranky CEO’s story is one of 28 real-life, two-page case studies adapted from the files of Vancouver coach and consultant Nancy MacKay. The founder and CEO of MacKay CEO Forums has compiled these vignettes, from her own coaching experience, into a free e-book entitled What Great CEOs Do: How to Learn from Mistakes and Move On. While the book was presumably published to promote her CEO-roundtable business, it’s also a highly readable guide to solving many of today’s toughest leadership challenges. Read more of this post

Without Test Tubes, 3 Win Nobel in Chemistry; Martin Karplus, Michael Levitt and Arieh Warshel were recognized for computer simulations that enable closer study of complex reactions like photosynthesis and the design of new drugs

October 9, 2013

Without Test Tubes, 3 Win Nobel in Chemistry

By KENNETH CHANG

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From left: Arieh Warshel, Martin Karplus and Michael Levitt shared the 2013 Nobel Prize in Chemistry.

Chemistry, meet computer science. This year’s Nobel Prize in Chemistry was awarded to three researchers for work that did not involve test tubes or lab coats. Instead, they explored the world of molecules virtually, with computers. Such numerical simulations enable the closer study of complex reactions like photosynthesis and combustion, as well as the design of new drugs. Read more of this post

Unless your company is Chinese, it’s a tough time to be a telecoms engineer

Unless your company is Chinese, it’s a tough time to be a telecoms engineer

By Jason Karaian @jkaraian October 9, 2013

Alcatel-Lucent’s announcement of 10,000 job cuts caught many by surprise, not least the French government, which vows to fight the layoffs alongside unions. Those familiar with trends in the telecoms equipment industry are not as surprised by the cuts; they are only the latest in a string of layoffs at network suppliers, driven by stiff competition from Chinese challengers. Read more of this post

The opening of US air space to drones has the potential to create a $12bn industry

October 8, 2013 6:54 pm

Technology: Eyes in the sky

By Geoff Dyer

The opening of US air space to drones has the potential to create a $12bn industry

Rodney Brossart, who owns a 3,000-acre cattle farm in North Dakota, is an unlikely trendsetter. In 2011, six cows from a neighbouring property wandered on to his farm. When he allegedly refused to return the cattle and barred law enforcement from entering his property, police asked that a Predator drone from a local air force base fly over his farm to see if Mr Brossart was armed. Read more of this post

In a growing Asian trend, Samsung wants to acquire Valley companies

In a growing Asian trend, Samsung wants to acquire Valley companies

October 9, 2013

by Anh-Minh Do

samsung-asia-silicon-valley

There is one current paradigm that rules over Asia these days. It’s that Asians are obsessed with Silicon Valley. Asian founders, startup community organizers, and wantrapreneurs get all googly eyed when the likes of Google and Facebook fly all the way out to Asia to network and give talks. It’s the power of the Silicon Valley brand. But there’s a quiet movement brewing that’s unbeknownst to the fanboys. It’s a slow shift in the other direction. Read more of this post

Global PC sales tank to lowest level since 2008

Global PC sales tank to lowest level since 2008

TABLET MARKET SLOWDOWN, ANDY HARGREAVES, GARTNER INC, LENOVO GROUP LTD, HEWLETT-PACKARD CO, ACER INC, BUSINESS NEWS

CNBC.com | Wednesday, 9 Oct 2013 | 11:19 PM ET

Global personal computer (PC) shipments tanked almost 9 percent on-year during the third quarter – a period of historically strong demand – to the lowest level in five years, according to a new report by Gartner. “The third quarter is often referred to as the ‘back-to-school’ quarter for PC sales, and sales this quarter dropped to their lowest volume since 2008,” said Mikako Kitagawa, principal analyst at technology research firm Gartner. Read more of this post

Book critics are divided over the quality of Dave Eggers’s highly anticipated novel “The Circle,” which has started a debate on whether technology is invading our lives

October 9, 2013

A Novel Prompts a Conversation About How We Use Technology

By JULIE BOSMAN and CLAIRE CAIN MILLER

Has Dave Eggers written a parable of our time, an eviscerating takedown of Silicon Valley and its privacy-invading technology companies? Or has he missed his target, producing a sanctimonious screed that fails to humanize its characters and understand its subject? Book critics are divided over the quality of Mr. Eggers’s highly anticipated novel “The Circle,” which went on sale Tuesday. But in Silicon Valley and beyond, the book’s theme promises to spark an even bigger debate over the 21st-century hyperconnected world that Mr. Eggers describes. Read more of this post

South Korea pays heavy price for education

October 9, 2013 7:15 am

South Korea pays heavy price for education

By Jung-a Song in Seoul

Park Sang-hee, is a new breed of university drop out. The 21-year-old South Korean ditched his music degree not to hit the hippy trail or to develop the next Google; but to train as an electrician. The pragmatic Mr Park may be a sign of things to come. In his home market, the deluge of graduates – 7 out of every 10 high school students go to university – and the subsequent skills surplus and labour underutilisation is taking a toll on theeconomy. Read more of this post

S. Korea groans with prevalent financial scams

S. Korea groans with prevalent financial scams

English.news.cn   2013-10-10 07:49:07

Yoo Seungki

SEOUL, Oct. 10 (Xinhua) — A company worker in South Korea received a text message on his smartphone. The message read that anyone who wants emergency funds can easily access a credit line in banks by making just a call to the phone number stated in the message. The 36-year-old man, who was ardently looking for the banks’ credit line to pay back another debt, immediately called the number, but the swindler posing as a consultant at a major local bank refused to give him the credit line due to his low credit rating. Read more of this post

‘Outsider’ to lead troubled CJ Group

2013-10-09 16:45

‘Outsider’ to lead troubled CJ Group

Yi Whan-woo
CJ Group’s sudden management reshuffle on Tuesday is drawing keen attention as the group has decided to appoint Lee Chae-wook as CEO of CJ Corp., the holding company of Korea’s food and entertainment giant CJ Group. The group officially said that the appointment was aimed at ensuring stability in management and speeding up the slowing down of overseas projects but the sudden move has spawned speculation that it was part of punishment against management. Read more of this post

Korean food companies are catering to a new demographic: single people

2013-10-09 17:17

Food firms shift focus to singles

By Park Ji-won
Food companies are catering to a new demographic: single people. An increasing number of companies are changing their interiors and menus to target such customers.
Outback Steakhouse Korea, an American restaurant franchise, increased the number of bar seats for single customers at its Cheonan, South Chungcheong Province and Ilsan, Gyeonggi Province locations in July. Read more of this post

How to revive the Korean ginseng industry

How to revive the Korean ginseng industry

By Shin Wang-su, President of Korea Ginseng Research and a director of the Korea Ginseng Federation

Oct 07,2013

Korea’s ginseng industry is in a crisis. The farmland is diminishing, farmers are getting old and the costs of material and labor are going up, jeopardizing the production of ginseng. Repeated cultivation of ginseng drastically reduced its yield, and ginseng farmers need to find fresh land where ginseng was never planted before. Therefore, securing arable lands is the most pressing task. However, the average leasing price for 3.3 square meters (35.5 square feet) of land is about 3,000 won ($2.80), so producing six-year-old ginseng from a 330,000-square-meter field cost about 10.8 billion won. The leasing price is translated into the production cost, lowering price competitiveness of Korean ginseng. Read more of this post

Martin Hartono, one of the three sons of Indonesia’s richest man Robert Budi Hartono, said “technopreneurs” have a great opportunity to capture consumer-related sectors given the country’s young population

Focusing on Consumers With ‘Technopreneurs’

By Muhamad Al Azhari on 11:11 am October 10, 2013.

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Martin Hartono speaking at a public lecture in Jakarta organized by the Tanoto Foundation in partnership with the economic faculty at the University of Indonesia. (GA Photo/Suhadi)

Martin Hartono, one of the three sons of Indonesia’s richest man Robert Budi Hartono, said “technopreneurs,” or entrepreneurs in technology in Indonesia, have a great opportunity to capture consumer-related sectors given the country’s young population. “Currently, young people who are in school will later get a job and spend… are the generation that is used to living with the Internet,” said Martin, whose father Budi and uncle Michael Hartono have a combined $15.5 billion net worth, according to Globe Asia calculations. Read more of this post

McDonald’s which entered India in 1996 and now runs 319 outlets, sacked Vikram Bakshi in July on the grounds that his diverse business interests were diluting his focus on McDonald’s

Vikram Bakshi’s attention divided, not to extend term as MD: McDonald’s tells CLB

ET Bureau Oct 4, 2013, 04.30AM IST

By Shubham Batra

NEW DELHI: US burger chain McDonald’s has told theCompany Law Board that it decided not to extend Vikram Bakshi’s term as the managing director of one of its joint ventures in India because he has not been devoting enough time for the business. Bakshi has not been able to devote substantial time in the development and performance of the business due to his association with 25 other companies promoted by him and his family, McDonald’s India said before the Company Law Board (CLB) on Thursday. Bakshi had approached the board after McDonald’s removed him as the managing director of Connaught Plaza Restaurants, the joint venture that runs McDonald’s outlets in north and east India, on August 6. Read more of this post

India-Made Fountain Pens Thrive On Global Demand

India-Made Fountain Pens Thrive On Global Demand

by Tushar A Amin | Oct 10, 2013

Steeped in history and tradition, Indian-made fountain pens—despite their relative anonymity—are thriving on global demand

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A felt-lined tray is placed on the counter separating me from the gleaming shrines at the William Penn boutique store at High Street Phoenix Mall in Lower Parel, Mumbai. Slipping on a dark glove, the high priestess approaches a glass-enclosed shrine and turns the key. From a distance, you are already in awe of the fine craftsmanship of Japanese Maki-e artiste Kousen Oshita in creating this exquisite tribute to Lord Venkateswara. As the glass veil parts, the priestess delicately lifts the object of worship from its pedestal and rests it on a velvet bed. Read more of this post

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