It is the first time that the central government has acted fast and timely in appointing three eminent directors on the Satyam Board.It will be for these gentlemen to bring in some sanity in the operations of the company and they have to move really fast to do this.Time is short as the reputation of the company is in tatters and the employees ,shareholders and the clients most importantly are to be retained which is the biggest challenge before the new Board.Good luck to the new team and hope they can convince the clients and others very soon so that the business is not lost.The competitors of Satyam have been fair to the company so far and have not poached on their resources.This is a good sign and needs appreciation. But all efforts must be made by both state and central agencies to find how the rot set in the fourth largest software company in India. Rajaraman Swami
Re: A POSITIVE MOVE BY GOVT.
by Virtual Insider on Jan 11, 2009 09:23 PM Permalink
However, the damage done to the brand name SATYAM will never do any good no matter how many people are put on board..Change of name might bring in some luck...As far as the market is concerned it will take atleast another 5 years for Satyam to redeem its brand status with clients or customers but by then markets wont be the same...
IT IS REALLY HARD TO BELIEVE RAJU. BECZ I FEEL THAT SUCH A GOOD COMPANY. WITH GOOD CLIENT AND GOOD RESOURCES DEFENITLY CANT'T GO WRONG THIS WAY. THE ISSUE DOESN'T END HEAR. EVEN A DUE PROBE HAS TO BE DONE ON MAYTAS INFRA ALSO. BECZ I BELIVE A GOOD AMOUNT OF MONEY BEEN SIPONED FROM SATYAM TO MAYTAS FOR VARIOUS MEGA PROJECTS WICH MAYATS IS INVOLVED. I AM SURE EVEN SOME BIG WIGS IN THE GOVT TOO MUST HAVE GOT THE BOOTY FROM SATYAM. FOR VARIOUS PROJECTS IN MAYTAS. BECZ IT BELONG TO RAJU'S SONS ONLY. who KNOWS PERHAPS THE C.M. Y.S.R too must have got the kick back's in mayats deals. just 4 to 5 % is enough for the up coming general and assembly elections. to buy people's mandate. disgusting system
Re: i am sure even good amount of satyam money was siponed to myt
by giveme abreakplease on Jan 11, 2009 09:19 PM Permalink
Someone reported my message for abuse even before I completed submitting it - now that's wonderful premonition.
Re: Re: i am sure even good amount of satyam money was siponed to
by just passing on Jan 11, 2009 09:24 PM Permalink
if your post has any words that have been deemed politically incorrect or abusive by the moderators of rediff, it'll automatically be reported for abuse. try using g.u.l.t.i (without the dots)...
Satyam fiasco is a blow for many. A few years ago the former CM of AP Chandrababu, Bill Clinton and Ramlinga Raju shared the same podium in Hyderabad. Chandrabau was blowing his own trumpet, Clinton was getting nice blow job from Monica Lewinski, Raju was simply blowing the investers money. The result is the double blow on the employees and investers. When the whistle blower Mr. Sreedharan raised valid objections on Maytas dealing for Hyd Metro project his objections were blown away by the present govt. This govt also deserves to be blown away the ensuing storm due to Satyam collapse. S.S. Rajguru
Re: Blow for all
by Virtual Insider on Jan 11, 2009 09:31 PM Permalink
Not just Whistle blowers like Mr.Sreedharan, whistle blowers and messengers who were ex-employees were shot and were brutally axed in layoffs at Satyam...Whistle blowers raised an alarm in 2001 itself. However, the information was supressed and they did not let it come out...One of the VP's of a Business Vertical went to US along with a female team lead member. The work they did is just to talk to the customer about bugs. While they could have done it over a VC or a telecon, they went all the way to US and billed exhorbitant amounts on the company's exchequer...They shared the same hotel room for a cool 11 days, you can understand what kind of business they were upto...The VP was so hemmed up with this female he made her a team lead within a period of 2 years since she serviced him...North Indian girls were upto good business across the company...Well that's "What Business Demands" one can assume...This is just one incident, many such incidents were happening since 2001 and continued to happen...Those who dared were axed brutally as Satyamites believe that its your fate what kind of Boss you get...Total Anarchy prevailed and finally the ship sunk with Raju garu throwing the spanner at Investors....
Re: Re: WOW
by PRASAD ANL on Jan 11, 2009 09:10 PM Permalink
THE FUNNY THING IN OUR JUDICIAL SYSTEM IS EVERY CRIMINAL HAS A LAWYER BEFORE HAND TO AVOID PUNISHMENTS EVEN THOUGH HE CONFESSES HIMSELF . OUR LAWYERS ARGUE THAT HIS CLIENT IS INNOCENT AND THERE ARE NO EVIDENCES OF SUCH CRIME/OFFENSE. U SEE ALL SCAM CULPRITS , THEY HAVE EMINENT LAWYERS TO DEFEND THEM. EVEN KASAB MAY HAVE ONE LAWYER SOON THOUGH HE HAS BEEN CAUGHT RED HAND AT TAJ HOTEL. THIS IS THE FUN OF OUR JUDICIAL SYSTEM. ONLY GOD CAN SAVE SINCERE INDIANS. AFTER SO MANY YEARS CASE DREWS ITSELF INTO CUPBOARDS OF COURTS AND EVERYBODY WILL FORGET. IF ANOTHER SCAM COMES TO LIGHT, THEN ALL TALK ABOUT EARLIER SCAMS ONCE AGAIN. THATS ALL FOLKS BYE MAY GOD BLESS OUR NEXT GENERATION
Re: WOW
by PRASAD ANL on Jan 11, 2009 09:10 PM Permalink
THE FUNNY THING IN OUR JUDICIAL SYSTEM IS EVERY CRIMINAL HAS A LAWYER BEFORE HAND TO AVOID PUNISHMENTS EVEN THOUGH HE CONFESSES HIMSELF . OUR LAWYERS ARGUE THAT HIS CLIENT IS INNOCENT AND THERE ARE NO EVIDENCES OF SUCH CRIME/OFFENSE. U SEE ALL SCAM CULPRITS , THEY HAVE EMINENT LAWYERS TO DEFEND THEM. EVEN KASAB MAY HAVE ONE LAWYER SOON THOUGH HE HAS BEEN CAUGHT RED HAND AT TAJ HOTEL. THIS IS THE FUN OF OUR JUDICIAL SYSTEM. ONLY GOD CAN SAVE SINCERE INDIANS. AFTER SO MANY YEARS CASE DREWS ITSELF INTO CUPBOARDS OF COURTS AND EVERYBODY WILL FORGET. IF ANOTHER SCAM COMES TO LIGHT, THEN ALL TALK ABOUT EARLIER SCAMS ONCE AGAIN. THATS ALL FOLKS BYE MAY GOD BLESS OUR NEXT GENERATION
Re: Re: WOW
by Virtual Insider on Jan 11, 2009 09:34 PM Permalink
Sure...Raju must be using brainstorming technique and must be a chair at the meeting to get better ideas to escape the heat...They will get away - just wait and watch...In India you can do anything and get away...Life is cheap for Netas, babus and Rajus...
If Mr. ramalingaraju had not confessed do you think the regulatory authorities would have smelt a rat on their own? Give it to the poor man- He has put every regulator on high alert.
Re: Isn't it ironical
by just passing on Jan 11, 2009 09:01 PM Permalink
Don't blabber nonsense without knowing the sequence of events. He "confession" only after Merrill Lynch walked out saying they were not happy with the accounts. If they had blown the whistle, he would've been in a bigger soup. By confessing he is only trying to minimise the sentence so that he can salve a few years of his sorry life to enjoy his ill gotten wealth.
Re: Re: Isn't it ironical
by giveme abreakplease on Jan 11, 2009 09:06 PM Permalink
Merrill Lynch is no great company either - had to be purchased by Bank of America to save itself.
I still think it shows honesty on the part of a man to admit his fault - at least at the level he was in.
Indian authorities will never smell a rat because the rat is sprayed with the perfume of bribes and sold as a food item.
Re: Re: Re: Re: Isn't it ironical
by Virtual Insider on Jan 11, 2009 09:36 PM Permalink
It was selfish honesty to evade US punishment...Had he delayed the US courts would have penalized him and would have screwed him to the core...Indian terrain can be played well since its home ground and you can get away, not in US as they did not even leave their President, why will they leave Raju ?. So he chose to be honest to save his skin...Not that he worried about Investors and employees....
Re: Re: Isn't it ironical
by sarasawani sankar on Jan 11, 2009 09:10 PM Permalink
Did Merill Lynch walk out first or did the confession come first. Mr ramalingarajus disclosure to the Board had asked for the appointment of Merrill Lynch. Every body including the financial advisors to satyam also needs to be investigated.
Re: Online Legitimate Part Time Job Involves typing online forms
by giveme abreakplease on Jan 11, 2009 09:10 PM Permalink
This is exactly what I am doing right now - typing into an online form at Rediff.
Re: Water is Important
by giveme abreakplease on Jan 11, 2009 09:09 PM Permalink
With several dozen multiplexes, shopping complexes and flats draining the ground water, it's a miracle we even get water to drink.
There's absolutely no regulation on where and when a bore pump may be used. All we know is drilling begins at 1 AM in the night without regard to anybody's well being or sleep.
If water becomes scarce, you can bet our politicians will black market it and become even richer.
Re: Re: Water is Important
by Virtual Insider on Jan 11, 2009 09:37 PM Permalink
Raju gaaru will be sipping coca cola then, don't worry while we keep running around...
