01-13-2009, 11:51 AM
Bodhi,
Problem started when British company filed legal case against Satyam in Texas, later Irish investors raised couple of issue including land deal and few appointments, then WB came out and later Board directorâs involvement in fishy board meeting. No check and balance.
These Indian companiesâ owners were looking for self not for country or staff. This whole scam will have long term effect.
Statement is offensive but it is a reality now, this is a big issue here now, âcredibility of Indian IT Companiesâ. After Mumbai, Indian Government inaction and regular terrorist attack in India had eroded confidence in label âIndia Incâ. It hurts but itâs true.
Itâs better to fix it now and move on, if we fail to recognize problem, we will never fix. These scams directly affect thousands of employees and their family and indirectly hundred thousand. This is equivalent to financial terrorism. Lot of guys who are on bench are having sleepless night.
Outsourcing by Indian companies was misuse and abused, whether it was H1, B1, L1 visa. If you can recall in 1995 Sintel was blacklisted because they were providing poor salary and breaking every single salary rules. Innocent Indian IT guys were paraded with handcuff without their fault but mismanagement of these companies. Mastech was another, now they had renamed themselves as iGate. They were listed in NY and went under because they were breaking law and now they are happily operating from India with same people.
Satyam Matyas deal was later scam, Raju was able to get away with his previous act, and he was manipulating books. Auditors were involved, it means they were bribed. Ofcourse Congress party was directly involved. I don't understand why Indian government is bailing them out. They should set them as example.
Enron destroyed so many lives and couple of executives committed suicide. Enron auditor Anderson Company went under but now they are back with different name Accenture and around 30 other smaller companies completely vanished.
Satyam guys are not committing suicide; it means they are not scared. No guilt, and know very well they can get away.
Watch NDTV, I suspect they are also cooking books.
Problem started when British company filed legal case against Satyam in Texas, later Irish investors raised couple of issue including land deal and few appointments, then WB came out and later Board directorâs involvement in fishy board meeting. No check and balance.
These Indian companiesâ owners were looking for self not for country or staff. This whole scam will have long term effect.
Statement is offensive but it is a reality now, this is a big issue here now, âcredibility of Indian IT Companiesâ. After Mumbai, Indian Government inaction and regular terrorist attack in India had eroded confidence in label âIndia Incâ. It hurts but itâs true.
Itâs better to fix it now and move on, if we fail to recognize problem, we will never fix. These scams directly affect thousands of employees and their family and indirectly hundred thousand. This is equivalent to financial terrorism. Lot of guys who are on bench are having sleepless night.
Outsourcing by Indian companies was misuse and abused, whether it was H1, B1, L1 visa. If you can recall in 1995 Sintel was blacklisted because they were providing poor salary and breaking every single salary rules. Innocent Indian IT guys were paraded with handcuff without their fault but mismanagement of these companies. Mastech was another, now they had renamed themselves as iGate. They were listed in NY and went under because they were breaking law and now they are happily operating from India with same people.
Satyam Matyas deal was later scam, Raju was able to get away with his previous act, and he was manipulating books. Auditors were involved, it means they were bribed. Ofcourse Congress party was directly involved. I don't understand why Indian government is bailing them out. They should set them as example.
Enron destroyed so many lives and couple of executives committed suicide. Enron auditor Anderson Company went under but now they are back with different name Accenture and around 30 other smaller companies completely vanished.
Satyam guys are not committing suicide; it means they are not scared. No guilt, and know very well they can get away.
Watch NDTV, I suspect they are also cooking books.