Thursday, January 08, 2009

Satyam...

The Satyam fiasco about which reams have been written (and I dont think I have anything particularly insightful to add) will result in some amount of upheaval in the Indian IT industries fortunes. Now that the S out of SWITCH is gone, WITCH will get some more clients on their rosters. There will also be an array of disgruntled employees.

PwCs goose seems to be cooked - the others can wean off some of PwC clients. PwC had a close shave with the GTB affair, Satyam may be messier.

Bangalore may see a fallout - the elevated corridor to E-city is being built by Maytas - incidentally there is no Satyam campus in E-city - could be delayed, though it is very close to completion. Hyderabads metro is hit, but Sreedharan had warned before (and he was sacked for his prescience).

This piece in Mint however made me think. It puts together so many facts - that were true until yesterday - but are suddenly highlighted post a fraud and many of them have no connection to what happened yesterday.

10 comments:

BharGo said...

Satyam has demolished the myth - "IT is the last bastion of ethical business"

Manoj said...

oxymoron- ethical business

Ramesh Srivats said...

Check out Satyam Chairman's trial. http://www.rameshsrivats.net/2009/01/satyam-chairman-on-trial.html

Lunatic said...

Check out Satyam's employees' blog www.satyam-news.blogspot.com

Social Entreprenuer said...

Hi Guys,
99% (I think its 100% but just for the benefit of doubt of that 1%) of the listed companies do this. As mentioned by Mr. Ramalinga Raju "Riding a tiger with out knowing when to get down as the tiger will eat away if got down". All companies boost their revenues but they usually get away, Mr.Raju tried to cover it up by buying Maytas with the unexisting 5000 crore there by making Satyam safe but people thought other wise. I am not supporting Mr. Raju but i feel bad for him and all the 52000 people in the Satyam Family.

The Bangalorean said...

There is a SAtyam campus in Electronics City

Bangalore, India
Electronic City #45-47, Phase II, KIADB Industrial Area, Electronic City, Bangalore - 561229

The Bangalorean said...

http://www.wikimapia.org/149469/Satyam-Computer-Services-Limited-SDC

shishir said...

Satyam-What business demands????? puts not only the stakeholders but also lots of other in grave dillema.

livenewss said...

“Satyam value today $330m against $7bn six months ago accd to Financial Times.”

Regards,
http://bse.blogsome.com

livenewss said...

“Satyam value today $330m against $7bn six months ago accd to Financial Times.”

Regards,
http://bse.blogsome.com