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Old 7th January 2009, 13:44   #16
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On short to medium term, it depends on which company will be acquiring that satyam. If no one is going to touch it, then things will be really bad.

But the bigger picture is, the indian IT companies, and the outsourcing story will take a big hit.
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Old 7th January 2009, 13:45   #17
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What is revealed is more shocking than the resignations!
The resignations are very much expected. No surprises there. But its not a "take money from the locker" scene. The board members might not be aware, but there would be quite a few number of elements involved to pull off such a major fraud.. and that too across years!
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Old 7th January 2009, 13:47   #18
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Something seemed fishy from the start of the maytas buyout news. Now it's out in the open.
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Old 7th January 2009, 13:49   #19
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Thank God, I left Satyam is all that I can say!!
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Old 7th January 2009, 13:52   #20
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But the bigger picture is, the indian IT companies, and the outsourcing story will take a big hit.
Quite right. The effect will slowly trickle down to the others as well, indirectly.

In a booming economy, these people would have had good chances, but now the situation is tight.
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Old 7th January 2009, 13:57   #21
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Nothing shocking or surprising - this is the state of affairs in most Indian companies. And if you think India is different, I hope you remember Enrons and Maxwells. In any case, for any one in the stock market, this was always the image that Satyam had, not now, but ever since they were listed.
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Old 7th January 2009, 13:57   #22
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Disgraceful. I think the government should now put all family run companies under the scanner especially those listed on the exchange. You can imagine the magnitude of the scam when you factor in thousands of crores already siphoned off playing the market with cooked balance sheets!!
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Old 7th January 2009, 13:58   #23
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Anyone here from Satyam? What are the talks among employees?
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Old 7th January 2009, 14:04   #24
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So many crores over so many years! Now that is really doubtful when they have so many high profile auditors who might have gone thru their books.

Definitely a insider job and something that might have been done with a blessing. And now, bail out!!!

And with the Peacock Award - God! Now we know what value all these awards are supposed to represent. :(
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Old 7th January 2009, 14:06   #25
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Anyone here from Satyam? What are the talks among employees?

Yes i am a satyamite and there are loads of Hyd bhpian from satyam in the forum. Well people here are little scared but are hopeful of a takeover to bring back some relief.
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Old 7th January 2009, 14:08   #26
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Ok ...so i was reading through all the comments posted by all you fine people..

i am employed with satyam ,yes indeed this is a challenging time for us.

just finished reading the chairman's resignation letter (quite emotional)..

but guys lets not forget the man built this place from scratch ,we are not the 4th largest i.t company by sheer luck..

i read some strong comments ,like he should be hanged and all (i found that amusing)

anyways will follow this thread and see the gyan guru's post their fine thoughts...

and yes its not paid holiday for us ,its the real testing times.

Cheers...
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Old 7th January 2009, 14:09   #27
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And with the Peacock Award - God! Now we know what value all these awards are supposed to represent. :(
Slightly off-topic.. take a hint and apply the same logic to the Auto awards as well.
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Old 7th January 2009, 14:10   #28
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that is indeed a shocking news!!

Will this mean the company will be shutdown or ???
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Old 7th January 2009, 14:14   #29
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Heard HP was interested to acquire Satyam or at least major stake.
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Old 7th January 2009, 14:17   #30
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I suppose whatever in life has a meteoric rise quite different from the normal course, is bound to descend at such a rapid pace itself. Lot of examples. With reference to I.T , I hope Infosys is clean
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