Satyam, Big Shame

[Sri]

Because of Mr Raju of Satyam all andhrites have been forced to drop their head in big shame.
It is a shame for south Indians too.
It is a shame for all Indians working abroad

Yesterday one of my collegue called me from Delhi

Kya Ohia tumara GOLTI (andhrite ) Ayyse kardiya he

Unnecessary shame for everybody

[SRK]

as you can understand software is a creative work, so people like rlr come up with cretive scams. it is hard for people from andhra to compete in this business due to their poor presentation skills so he started inflating numbers to show the fiscally tall standing of the company to impress the investor as well as clients.

we don't need to be rocket scientist to see that if you spell maytas backwards it becomes satyam.

the other side of the coin is the human nature of the whole issue, we can see a father trying to help his son to establish a business, there is nothing wrong in this.

my only worry is if s/w companies other that satyam have also done this. !!!

[Chanakya]

SRK's post above isn't too informed. Neither am I, but from whatever I can piece together:

as you can understand software is a creative work, so people like rlr come up with cretive scams. it is hard for people from andhra to compete in this business due to their poor presentation skills so he started inflating numbers to show the fiscally tall standing of the company to impress the investor as well as clients.

1. It wasn't Ramalinga Raju's presentation skills that got the company great valuations. The company was actually doing well - how can you cheat auditors for 7 years in a row, especially about bank balances? Raju siphoned the money off to fund his real estate addiction, and when the shit hit the ceiling with real estate tanking and the global economy going down the toilet, he realized he could not raise money anymore to keep Satyam going, the game would be over shortly, and confessed. This is all, of course, cutting a long story short.

the other side of the coin is the human nature of the whole issue, we can see a father trying to help his son to establish a business, there is nothing wrong in this.

2. I don't know in what sense you meant this. You can't take other people's money without their knowing it, to help your son. Raju had an 8.5% stake in Satyam, which means even morally (legally is another matter) he could take only 8.5% of its assets for anything.

[Irfan]

How about a good ole Hyderabadi saying,'' A monkey doesn't become pretty just because his ass looks it has lip-stick smeared on it ."