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The History of the BicycleBy Rao Chalasani Many credit Baron von Drais as the grandfather of the bicycle. In 1817, he introduced a two-wheeled, wood-framed and wood-wheeled “hobby horse” that required people to propel it with their feet. Featuring a steerable front wheel but no pedals, this device was considered a fad and could only be used on well-paved paths and in gardens. Nearly 50 years later, the velocipede came out. Featuring pedals attached to the front wheel, it was dubbed the “boneshaker” due to its constant rattling on cobblestone streets. Subsequently, the high wheel bicycle was introduced. Unlike its two predecessors, this was made entirely of metal and provided a greater range of movement. Dangerous to operate, it was prone to falling in the face of the slightest obstacle. By the end of the 19th century, bikes had begun to adopt the form popular today, due to the introduction of the pneumatic tire and the chain-and-sprocket design. About the Author: A New York City-based financial executive, Rao Chalasani has served businesses including JPMorgan Chase & Co., Bank of America Corporation, SunGard Data Systems Inc., and Deutsche Bank AG. Chalasani counts cycling among his hobbies.
Worked with Sakhi to establish the "Swarna Chalasani Economic Empowerment Fund" . This fund was established in memory of my late sister to help women who are economically or socially deprived , with scholarship towards their education, or vocational training, Fund was established in 2003., Sakhi, Doctors without Borders, Childreach sponsoring education for poor kids, Sankara Eye Foundation, UNICEF, elementary school in rural Indian Village, Reading , Biking, watching sports, following markets and politics.
With nearly two decades of experience in the financial services industry, Rao Chalasani has served as a chief technology officer for some of the world’s largest financial institutions, including Bank of America-Merrill Lynch, JP Morgan, and Deutsche Bank in New York, NY. Rao Chalasani most recently worked in the Global Markets Trading Risk Management division of BofA. In addition to his professional pursuits, the New Jersey resident actively supports UNICEF.A biennial event, the UNICEF Ball brings together notable celebrities, community leaders, and philanthropists in a coordinated effort to help save children’s lives. The event also celebrates UNICEF’s achievements and honors individuals who have played an instrumental role in helping to fulfill UNICEF’s mission. In 2014, the UNICEF Ball will honor actor Michael Douglas by presenting him with the Danny Kaye Humanitarian Peace Award. The evening also will recognize Ghada Irani, a United Nations Messenger of Peace and Danny Kaye Humanitarian Leadership Award recipient.The UNICEF Ball is sponsored by the U.S. Fund for UNICEF. The U.S. Fund helps to support UNICEF’s work by raising money and awareness for the organization’s various programs in the United States. Together with UNICEF, the U.S. Fund remains committed to creating a world where no children suffer from preventable illnesses or conditions.
An accomplished Senior Technology Executive in New York, Rao Chalasani most recently served as Chief Technology Officer and Risk Strategist for Bank of America (B of A)-Merrill Lynch. His responsibilities in that position entailed leading the development of a new risk management platform and overseeing technology strategy. While contributing to the creation of the firm’s risk management system, Rao Chalasani worked closely with industry executives in credit risk, market risk, capital management, and other sectors. The resulting technology, known as the Enterprise Risk Management System, is currently U.S. patent-pending, with Rao Chalasani as the sole inventor. Mr. Chalasani’s recent career history includes functioning as Chief Technology Officer and Director of Global Credit, Real Estate, and Structured Products for Merrill Lynch. Active in that role from 2005 to 2008, he notably oversaw the implementation of state-of-the-art technology. Earlier in his career, he held leadership positions in the financial services industry, including Vice President of Global Derivatives Technology for Deutsche Bank and Vice President of Global Fixed Income Technology for Merrill Lynch. Rao Chalasani completed his Bachelor of Science in Engineering at the Polytechnic Institute of New York University in 1994. While working toward his degree, he participated in the American Society of Quality Control and the Institute of Industrial Engineers. In recognition of his scholastic achievements, JP Morgan Chase recruited Rao Chalasani to the Leadership and Management Development Program. Beyond his career interests in the financial industry, he actively contributes to the Swarna Chalasani Economic Empowerment Fund, which provides assistance to women facing economic or social disadvantages.