Finance is the study of how investors allocate their assets over time under conditions of certainty and uncertainty. A key point in finance, which affects decisions, is the time value of money, which states that a unit of currency today is worth more than a unit of currency tomorrow. Finance measures the risks vs. profits and gives an indication of whether the investment is good or not. Finance can be broken into three different sub categories: public finance, corporate finance and personal finance.

Areas of finance[link]

Personal finance[link]

Questions in personal finance revolve around

• How can people protect themselves against unforeseen personal events, as well as those in the external economy?
• How can family assets best be transferred across generations (bequests and inheritance)?
• How does tax policy (tax subsidies or penalties) affect personal financial decisions?
• How does credit affect an individual's financial standing?
• How can one plan for a secure financial future in an environment of economic instability?

Personal financial decisions may involve paying for education, financing durable goods such as real estate and cars, buying insurance, e.g. health and property insurance, investing and saving for retirement.

Personal financial decisions may also involve paying for a loan, or debt obligations. The six key areas of personal financial planning, as suggested by the Financial Planning Standards Board, are:^[1]

1. Financial position: is concerned with understanding the personal resources available by examining net worth and household cash flow. Net worth is a person's balance sheet, calculated by adding up all assets under that person's control, minus all liabilities of the household, at one point in time. Household cash flow totals up all the expected sources of income within a year, minus all expected expenses within the same year. From this analysis, the financial planner can determine to what degree and in what time the personal goals can be accomplished.
2. Adequate protection: the analysis of how to protect a household from unforeseen risks. These risks can be divided into liability, property, death, disability, health and long term care. Some of these risks may be self-insurable, while most will require the purchase of an insurance contract. Determining how much insurance to get, at the most cost effective terms requires knowledge of the market for personal insurance. Business owners, professionals, athletes and entertainers require specialized insurance professionals to adequately protect themselves. Since insurance also enjoys some tax benefits, utilizing insurance investment products may be a critical piece of the overall investment planning.
3. Tax planning: typically the income tax is the single largest expense in a household. Managing taxes is not a question of if you will pay taxes, but when and how much. Government gives many incentives in the form of tax deductions and credits, which can be used to reduce the lifetime tax burden. Most modern governments use a progressive tax. Typically, as one's income grows, a higher marginal rate of tax must be paid.^{[citation needed]} Understanding how to take advantage of the myriad tax breaks when planning one's personal finances can make a significant impact.
4. Investment and accumulation goals: planning how to accumulate enough money for large purchases, and life events is what most people consider to be financial planning. Major reasons to accumulate assets include, purchasing a house or car, starting a business, paying for education expenses, and saving for retirement.

   Achieving these goals requires projecting what they will cost, and when you need to withdraw funds. A major risk to the household in achieving their accumulation goal is the rate of price increases over time, or inflation. Using net present value calculators, the financial planner will suggest a combination of asset earmarking and regular savings to be invested in a variety of investments. In order to overcome the rate of inflation, the investment portfolio has to get a higher rate of return, which typically will subject the portfolio to a number of risks. Managing these portfolio risks is most often accomplished using asset allocation, which seeks to diversify investment risk and opportunity. This asset allocation will prescribe a percentage allocation to be invested in stocks, bonds, cash and alternative investments. The allocation should also take into consideration the personal risk profile of every investor, since risk attitudes vary from person to person.

5. Retirement planning is the process of understanding how much it costs to live at retirement, and coming up with a plan to distribute assets to meet any income shortfall. Methods for retirement plan include taking advantage of government allowed structures to manage tax liability including: individual (IRA) structures, or employer sponsored retirement plans.
6. Estate planning involves planning for the disposition of one's assets after death. Typically, there is a tax due to the state or federal government at your death. Avoiding these taxes means that more of your assets will be distributed to your heirs. You can leave your assets to family, friends or charitable groups.

Corporate finance[link]

Managerial or corporate finance is the task of providing the funds for a corporation's activities (for small business, this is referred to as SME finance). Corporate finance generally involves balancing risk and profitability, while attempting to maximize an entity's wealth and the value of its stock, and generically entails three interrelated decisions. In the first, "the investment decision", management must decide which "projects" (if any) to undertake. The discipline of capital budgeting is devoted to this question, and may employ standard business valuation techniques or even extend to real options valuation; see Financial modeling. The second, "the financing decision" relates to how these investments are to be funded: capital here is provided by shareholders, in the form of equity (privately or via an initial public offering), creditors, often in the form of bonds, and the firm's operations (cash flow). Short-term funding or working capital is mostly provided by banks extending a line of credit. The balance between these elements forms the company's capital structure. The third, "the dividend decision", requires management to determine whether any unappropriated profit is to be retained for future investment / operational requirements, or instead to be distributed to shareholders, and if so in what form. Short term financial management is often termed "working capital management", and relates to cash-, inventory- and debtors management. These areas often overlap with the firm's accounting function, however, financial accounting is more concerned with the reporting of historical financial information, while these financial decisions are directed toward the future of the firm.

Another business decision concerning finance is investment, or fund management. An investment is an acquisition of an asset in the hope that it will maintain or increase its value. In investment management – in choosing a portfolio – one has to decide what, how much and when to invest. To do this, a company must:

• Identify relevant objectives and constraints: institution or individual goals, time horizon, risk aversion and tax considerations;
• Identify the appropriate strategy: active versus passive hedging strategy
• Measure the portfolio performance

Financial management is duplicate with the financial function of the Accounting profession. However, financial accounting is more concerned with the reporting of historical financial information, while the financial decision is directed toward the future of the firm.

Financial risk management, an element of corporate finance, is the practice of creating and protecting economic value in a firm by using financial instruments to manage exposure to risk, particularly credit risk and market risk. (Other risk types include Foreign exchange, Shape, Volatility, Sector, Liquidity, Inflation risks, etc.) It focuses on when and how to hedge using financial instruments; in this sense it overlaps with financial engineering. Similar to general risk management, financial risk management requires identifying its sources, measuring it (see: Risk measure: Well known risk measures), and formulating plans to address these, and can be qualitative and quantitative. In the banking sector worldwide, the Basel Accords are generally adopted by internationally active banks for tracking, reporting and exposing operational, credit and market risks.

Financial services[link]

An entity whose income exceeds its expenditure can lend or invest the excess income. On the other hand, an entity whose income is less than its expenditure can raise capital by borrowing or selling equity claims, decreasing its expenses, or increasing its income. The lender can find a borrower, a financial intermediary such as a bank, or buy notes or bonds in the bond market. The lender receives interest, the borrower pays a higher interest than the lender receives, and the financial intermediary earns the difference for arranging the loan.

A bank aggregates the activities of many borrowers and lenders. A bank accepts deposits from lenders, on which it pays interest. The bank then lends these deposits to borrowers. Banks allow borrowers and lenders, of different sizes, to coordinate their activity.

Finance is used by individuals (personal finance), by governments (public finance), by businesses (corporate finance) and by a wide variety of other organizations, including schools and non-profit organizations. In general, the goals of each of the above activities are achieved through the use of appropriate financial instruments and methodologies, with consideration to their institutional setting.

Finance is one of the most important aspects of business management and includes decisions related to the use and acquisition of funds for the enterprise.

In corporate finance, a company's capital structure is the total mix of financing methods it uses to raise funds. One method is debt financing, which includes bank loans and bond sales. Another method is equity financing - the sale of stock by a company to investors, the original shareholders of a share. Ownership of a share gives the shareholder certain contractual rights and powers, which typically include the right to receive declared dividends and to vote the proxy on important matters (e.g., board elections). The owners of both bonds and stock, may be institutional investors - financial institutions such as investment banks and pension funds — or private individuals, called private investors or retail investors.

Public finance[link]

Public finance describes finance as related to sovereign states and sub-national entities (states/provinces, counties, municipalities, etc.) and related public entities (e.g. school districts) or agencies. It is concerned with:

• Identification of required expenditure of a public sector entity
• Source(s) of that entity's revenue
• The budgeting process
• Debt issuance (municipal bonds) for public works projects

Central banks, such as the Federal Reserve System banks in the United States and Bank of England in the United Kingdom, are strong players in public finance, acting as lenders of last resort as well as strong influences on monetary and credit conditions in the economy.^[2]

Capital[link]

Capital, in the financial sense, is the money that gives the business the power to buy goods to be used in the production of other goods or the offering of a service. (The capital has two types of resources Equity and Debt)

The deployment of capital is decided by the budget. This may include the objective of business, targets set, and results in financial terms, e.g., the target set for sale, resulting cost, growth, required investment to achieve the planned sales, and financing source for the investment.

A budget may be long term or short term. Long term budgets have a time horizon of 5–10 years giving a vision to the company; short term is an annual budget which is drawn to control and operate in that particular year.

Budgets will include proposed fixed asset requirements and how these expenditures will be financed. Capital budgets are often adjusted annually and should be part of a longer-term Capital Improvements Plan.

A cash budget is also required. The working capital requirements of a business are monitored at all times to ensure that there are sufficient funds available to meet short-term expenses.

The cash budget is basically a detailed plan that shows all expected sources and uses of cash. The cash budget has the following six main sections:

1. Beginning Cash Balance - contains the last period's closing cash balance.
2. Cash collections - includes all expected cash receipts (all sources of cash for the period considered, mainly sales)
3. Cash disbursements - lists all planned cash outflows for the period, excluding interest payments on short-term loans, which appear in the financing section. All expenses that do not affect cash flow are excluded from this list (e.g. depreciation, amortization, etc.)
4. Cash excess or deficiency - a function of the cash needs and cash available. Cash needs are determined by the total cash disbursements plus the minimum cash balance required by company policy. If total cash available is less than cash needs, a deficiency exists.
5. Financing - discloses the planned borrowings and repayments, including interest.
6. Ending Cash balance - simply reveals the planned ending cash balance.

Financial theory[link]

Financial economics[link]

Financial economics is the branch of economics studying the interrelation of financial variables, such as prices, interest rates and shares, as opposed to those concerning the real economy. Financial economics concentrates on influences of real economic variables on financial ones, in contrast to pure finance. It centres on decision making under uncertainty in the context of the financial markets, and the resultant economic and financial models. It essentially explores how rational investors would apply decision theory to the problem of investment. Here, the twin assumptions of rationality and market efficiency lead to modern portfolio theory (the CAPM), and to the Black Scholes theory for option valuation; it further studies phenomena and models where these assumptions do not hold, or are extended. "Financial economics", at least formally, also considers investment under "certainty" (Fisher separation theorem, "theory of investment value", Modigliani-Miller theorem) and hence also contributes to corporate finance theory. Financial Econometrics is the branch of Financial Economics that uses econometric techniques to parameterize the relationships suggested.

Although closely related, the disciplines of economics and finance are distinctive. The “economy” is a social institution that organizes a society’s production, distribution, and consumption of goods and services,” all of which must be financed.

Economists make a number of abstract assumptions for purposes of their analyses and predictions. They generally regard financial markets that function for the financial system as an efficient mechanism. Instead, financial markets are subject to human error and emotion.^[3] New research discloses the mischaracterization of investment safety and measures of financial products and markets so complex that their effects, especially under conditions of uncertainty, are impossible to predict. The study of finance is subsumed under economics as financial economics, but the scope, speed, power relations and practices of the financial system can uplift or cripple whole economies and the well-being of households, businesses and governing bodies within them—sometimes in a single day.

Financial mathematics[link]

Financial mathematics is a field of applied mathematics, concerned with financial markets. The subject has a close relationship with the discipline of financial economics, which is concerned with much of the underlying theory. Generally, mathematical finance will derive, and extend, the mathematical or numerical models suggested by financial economics. In terms of practice, mathematical finance also overlaps heavily with the field of computational finance (also known as financial engineering). Arguably, these are largely synonymous, although the latter focuses on application, while the former focuses on modeling and derivation (see: Quantitative analyst). The field is largely focused on the modelling of derivatives, although other important subfields include insurance mathematics and quantitative portfolio problems. See Outline of finance: Mathematical tools; Outline of finance: Derivatives pricing.

Experimental finance[link]

Experimental finance aims to establish different market settings and environments to observe experimentally and provide a lens through which science can analyze agents' behavior and the resulting characteristics of trading flows, information diffusion and aggregation, price setting mechanisms, and returns processes. Researchers in experimental finance can study to what extent existing financial economics theory makes valid predictions, and attempt to discover new principles on which such theory can be extended. Research may proceed by conducting trading simulations or by establishing and studying the behaviour of people in artificial competitive market-like settings.

Behavioral finance[link]

Behavioral Finance studies how the psychology of investors or managers affects financial decisions and markets. Behavioral finance has grown over the last few decades to become central to finance.

Behavioral finance includes such topics as:

1. Empirical studies that demonstrate significant deviations from classical theories.
2. Models of how psychology affects trading and prices
3. Forecasting based on these methods.
4. Studies of experimental asset markets and use of models to forecast experiments.

A strand of behavioral finance has been dubbed Quantitative Behavioral Finance, which uses mathematical and statistical methodology to understand behavioral biases in conjunction with valuation. Some of this endeavor has been led by Gunduz Caginalp (Professor of Mathematics and Editor of Journal of Behavioral Finance during 2001-2004) and collaborators including Vernon Smith (2002 Nobel Laureate in Economics), David Porter, Don Balenovich, Vladimira Ilieva, Ahmet Duran). Studies by Jeff Madura, Ray Sturm and others have demonstrated significant behavioral effects in stocks and exchange traded funds. Among other topics, quantitative behavioral finance studies behavioral effects together with the non-classical assumption of the finiteness of assets.

Intangible asset finance[link]

Intangible asset finance is the area of finance that deals with intangible assets such as patents, trademarks, goodwill, reputation, etc.

Professional qualifications[link]

There are several related professional qualifications, that can lead to the field:

• Generalist Finance qualifications:
  • Degrees: Masters degree in Finance (MSF), Master of Financial Economics, Master of Finance & Control (MFC), Master Financial Manager (MFM), Master of Financial Administration (MFA)
  • Certifications: Chartered Financial Analyst (CFA), Certified Treasury Professional (CTP), Certified Valuation Analyst (CVA), Certified International Investment Analyst (CIIA), Financial Risk Manager (FRM), Association of Corporate Treasurers (ACT), Certified Market Analyst (CMA/FAD) Dual Designation, Corporate Finance Qualification (CF), Chartered Alternative Investment Analyst (CAIA)
• Quantitative Finance qualifications: Master of Financial Engineering (MSFE), Master of Quantitative Finance (MQF), Master of Computational Finance (MCF), Master of Financial Mathematics (MFM), Certificate in Quantitative Finance (CQF).
• Accountancy qualifications:
  • Qualified accountant: Chartered Accountant (ACA - UK certification / CA - certification in Commonwealth countries), Chartered Certified Accountant (ACCA, UK certification), Certified Public Accountant (CPA, US certification), ACMA/FCMA ( Associate/Fellow Chartered Management Accountant) from Chartered Institute of Management Accountant(CIMA), UK.
  • Non-statutory qualifications: Chartered Cost Accountant CCA Designation from AAFM
• Business qualifications: Master of Business Administration (MBA), Master of Management (MM), Master of Commerce (M.Comm), Master of Science in Management (MSM), Doctor of Business Administration (DBA)

See also[link]

• Outline of finance
• Financial crisis of 2007–2010

	Book: Finance
Wikipedia books are collections of articles that can be downloaded or ordered in print.

References[link]

External links[link]

Look up finance in Wiktionary, the free dictionary.

Wikiversity has learning materials about Finance

Wikisource has the text of the 1921 Collier's Encyclopedia article Finance.

• OECD work on financial markets Observation of UK Finance Market
• Wharton Finance Knowledge Project - aimed to offer free access to finance knowledge for students, teachers, and self-learners.
• Professor Aswath Damodaran (New York University Stern School of Business) - provides resources covering three areas in finance: corporate finance, valuation and investment management and syndicate finance.

Amit Mitra
Minister for Finance & Excise Government of West Bengal
Incumbent
Assumed office 2011
Preceded by	Asim Dasgupta
Member of the Legislative Assembly
Incumbent
Assumed office 2011
Preceded by	Asim Dasgupta
Constituency	Khardaha
Personal details
Nationality	Indian
Political party	Trinamool Congress
Spouse(s)	Meera Balakrishnan
Alma mater	Presidency College Delhi School of Economics Duke University
Occupation	Economist Politician
Religion	Hinduism

Amit Mitra (Bengali: অমিত মিত্র, Hindi: अमित मित्रा) is an Indian economist and politician representing All India Trinamool Congress and the current Finance Minister of the Indian state of West Bengal. He is the incumbent MLA in the West Bengal state assembly from the Khardaha state assembly constituency. Cited as a giant killer in the West Bengal state assembly election, 2011 defeating Asim Dasgupta, the former West Bengal Finance Minister.^[1][2][3] Mitra previously served as the Secretary general of the Federation of Indian Chambers of Commerce and Industry (FICCI).

Family[link]

The son of Haridas Mitra, a former Deputy Speaker of the West Bengal legislative assembly and Bela Mitra, his maternal grand-father was Suresh Chandra Bose, elder brother of Netaji Subhas Chandra Bose. Both Suresh Chandra Bose and Haridas Mitra were part of the secret service team of Azad Hind Fauj. Bela Mitra took charge of the secret service of Azad Hind Fauj from Haridas Mitra. Belanagar, a railway station on the Howrah-Bardhaman chord line, is named after her.^[4]

Education[link]

Mitra was schooled at Calcutta Boys' School and graduated from Presidency College with a degree in Economics. During college life he was one of the best debaters in West Bengal in inter-college debate competitions.^[5] Dr. Mitra secured his masters from the Delhi School of Economics and further completed his PhD in 1978 from the prestigious Duke University in the USA.^[4][6] Dr. Mitra is also included in Duke University's list of distinguished alumni.^[6] Dr. Mitra considers Prime Minister Dr. Manmohan Singh, Dr. Amartya Sen and K. N. Raj among his teachers.^[4]

Early career[link]

He taught at Duke University and Franklin & Marshall College for over a decade before returning to India. He received the prestigious Sears-Roebuck Foundation Award for Distinguished Teaching, 1990.^[7][8]

He joined the Federation of Indian Chambers of Commerce and Industry and rose to be its secretary-general.^[4] He resigned as secretary-general of FICCI on May 18, 2011 upon his election as state assembly representative. ^[9] During his tenure, he transformed FICCI into a professional organisation to research and formulate India's policy during its economic liberalisation. The number of conferences organised by FICCI rose from 10 to 500 between 1994 and 2011 and its revenues saw an increase from Rs 3 crore to Rs 110 crore during the period Dr. Mitra presided over its activities.^[9]

He served as an Additional Director of Steel Authority of India Ltd from March 25, 2003 to March 24, 2006. At the request of Mamata Banerjee, the railway minister, he headed a panel to draw up business plans for the public-private partnership projects of the railways. He has been on the government’s advisory committee on the World Trade Organisation and the National Manufacturing Competitiveness Council. He was associated with Planning Commission as a member of the expert group on equitable development.^[10][11] He has also been appointed a member on the Board of Air India-National Aviation Company of India Ltd. (NACIL). He is also on the Board of IL&FS –CDI, a hundred per cent subsidiary of Infrastructure Leasing & Financial Services Limited (IL&FS) which is one of India's leading infrastructure development and finance company, Also on the Board of Delhi Mumbai Industrial Corridor Development Corporation (DMICDC).

Dr Mitra was also a Member on the Advisory Board of the India Fund of the Unit Trust of India (UTI), Member, Advisory Board of Microsoft Corporation (India) Pvt. Ltd., a marketing subsidiary of Microsoft in India, Member, Central Listing Authority, established by the Securities and Exchange Board of India (SEBI), Member, Life Insurance Council, Member of the ‘Eminent Persons Group’ established by the UNCTAD Secretary General on Non-Tariff Barriers (NTBs)- 2006, Member, Consultative Group set up by the Inter-State Council Secretariat (ISCS), Member, Committee on Public-Private Partnership in the area of Defence (2004–2005), Member, Advisory Committee on Competition Advocacy for advising Competition Commission of India, Member, Expert Committee to formulate energy Policy by Planning Commission (2005–06), Member of the "India-China Eminent Persons Group" from the Indian side, and Member, Advisory Committee to Union Commerce Minister of India on International Trade (WTO), and Member of the "Indo – EU Roundtable" from the Indian side (initiated by Government of India and the EU). He is a Member of the Joint Study Groups set up between the Governments of India-China, India-Japan, India-Israel, India-Korea & Indo-Russia. He is also represented on various sectoral Committees/Sub-Groups constituted by the National Manufacturing Competitive Council and the Planning Commission, Member of the ‘Expert Group on Equitable Development’ set up by the Planning Commission for preparing the Eleventh Five Year Plan. He was also Trustee of India Brand Equity Foundation. He was appointed in the two-member committee by the Department of Revenue, Ministry of Finance, Government of India for suggesting Alternative Scheme of Collecting Excise Duties.

Political career[link]

Amit Mitra joined All India Trinamool Congress on the invitation of Mamata Banerjee^[12] and contested during the state assembly election of 2011 from the Khardaha state assembly constituency. He was attributed a giant killer after the election as he defeated state Finance Minister Asim Dasgupta by a margin of 26,154 votes.^[13] Asim Dasgupta was elected from the Khardaha constituency previously five times in a row during the state assembly elections of 1987, 1991, 1996, 2001 and 2006.

Amit Mitra was sworn in as a minister on May 20, 2011 and was given the Finance and Excise portfolio.^[14][15]

Awards[link]

Amit Mitra is a Padma Shree Award Winner from Government of India in the year 2008 .^[16] The Japanese government conferred the `Order of the Rising Sun' on Amit Mitra in 2005 by His Majesty the Emperor of Japan. The award was presented for his contribution towards promotion of friendly relations between India and Japan.^[17] He is also the recipient of highest civilian Awards conferred by President of the Republic of Italy in 2007.^[8]

Ideology[link]

Amit Mitra has opined that the ‘minimal capital expenditure’ made over a long period by the state government has led to the state of bankruptcy. He feels that the state’s financial condition can be improved with a flow of investments and expansion of the state’s existing industrial units.^[18]

Dr. Amit Mitra is in the Executive Council of Vivekananda International Foundation, (VIF) is a New Delhi-based think tank set up with the collaborative efforts of India's leading security experts, diplomats, industrialists and philanthropists under the aegis of the Vivekananda Kendra.

The left front scoffed at Amit Mitra as not merely being a candidate contesting on a Trinamool Congress ticket. They reflected, “He represents the real neoliberal face of TMC hidden under the garb of populist demagogy.”^[19]

References[link]

Wikimedia Commons has media related to: Amit Mitra

La Mafia is a four-time Grammy Award-winning musical group. It has its roots in the Northside neighborhood of Houston, Texas and has charted a course as a Latin music band.

History[link]

La Mafia was founded in 1980 in Houston, TX. Vocalist Oscar De La Rosa & producer/keyboardist/accordionist Armando Lichtenberger Jr. created an original style that survived various changes in the music industry. The band consists of Tim Ruiz on bass, David de la Garza on keyboards and background vocals, Joe Gonzales on drums and Viktor Pacheco on Guitar in 2007. The band has won 2 Grammys & 2 Latin Grammys was nominated in 2009 for a Latin Grammy for the album Eternamente Romanticos.

La Mafia, seeking to expand their musical horizons, began touring extensively in Mexico and Latin America beginning in the late 1980s. The practice of Mexican-American artists performing in Mexico on a large scale was unheard of before La Mafia. Back home, La Mafia has performed in front of three record-setting crowds at the Houston Livestock Show and Rodeo at the Houston Astrodome.

Discography[link]

Since 1993, La Mafia has recorded each of its hits at its own Urbana Recording Studios, including the million-selling Estas Tocando Fuego and Ahora y Siempre. The band has recorded 35 albums and CDs, not including dozens of compilation and greatest hits releases.

Awards and recognitions[link]

La Mafia received Grammy Awards for its CDs Un Millón de Rosas and En Tus Manos and Latin Grammy Awards for its CDs Para El Pueblo and Nuevamente. It also has received eight Premio Lo Nuestro Awards and 12 Tejano Music Awards, including a Lifetime Achievement Award from the latter, numerous Billboard awards and was listed in the top 10 Billboard Latin Artists for the entire decade of the 1990s, ranking La Mafia as the most successful Latin artist Houston has ever produced.

La Mafia vs Kumbia All Starz[link]

In the summer of 2008 Oscar De La Rosa, leader of La Mafia challenged A.B. Quintanilla and his group Los Kumbia All Starz to a battle of the bands. A.B. Quintanilla responded by making a video saying that he accepted and that the battle would be held at Robstown, Texas on August 2, 2008. A press conference was held in San Antonio, Texas on July 30, 2008 where both groups answered questions to the fans. The two stages were set side to side and the rules were each group had to sing 3 songs in a row. The battle began as they tossed a coin to see who would sing first. Oscar called heads and heads it was, so he elected A.B. Quintanilla to go first. For his first 3 songs he chose 3 Tejano songs he wrote and he got his two special guest singers Elida Reyna to sing the first two and Jesse Turner of Siggno to sing the third one. Then La Mafia sang "Estás Tocando Fuego" and two more 1990s Billboard hits. For Kumbia All Starz's second turn, their lead singer DJ Kane and Ricky Rick performed the hit single "Shhh!" and two other songs with the dancers from DJ Kane's group when he was a solo singer, John and JD. La Mafia then performed with 3 more songs. Kumbia All Starz sang 3 more songs, then A.B. Quintanilla asked Oscar De La Rosa if they could sing one more song, and Oscar agreed, and so Ricky Rick and Melissa Jiménez got on stage and performed the hit song "Rica Y Apretadita". La Mafia then sang 3 of their biggest hits, including the classic "Me Estoy Enamorando", and after that the crowd was screaming for more, so they sang one more song. At the end of the night La Mafia was declared the winner.^[1]

Members[link]

• Oscar De La Rosa - vocalist
• Armando Lichtenberger Jr. - accordion & keyboards
• Tim Ruiz - bass
• Joe Gonzales - drums
• Viktor Pacheco - guitar
• David De La Garza - keyboards & background vocals

Former members[link]

Leonard Gonzales (brother of Oscar De La Rosa [Gonzales]) -guitar Robert Gonzales - guitar & bass guitar Marion Aquilina - guitar Israel (Speedy) Villanueva - bass guitar Adolf Alonso - bass guitar Rudy Martinez - bass guitar Tony Rodriguez - drums Mario Gonzalez - drums Adam Mosqueda - drums Michael Aguilar - drums Jesse Moreno - Sax Jesse Peralez - Sax Rick Patino - Sax-Trumpet

References[link]

External links[link]

• Official website
• La Mafia at Allmusic