01-13-2009, 12:11 PM
<!--QuoteBegin-Mudy+Jan 13 2009, 11:51 AM-->QUOTE(Mudy @ Jan 13 2009, 11:51 AM)<!--QuoteEBegin-->Bodhi,
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.
Â
Satyam guys are not committing suicide; it means they are not scared. No guilt, and know very well they can get away.
[right][snapback]93058[/snapback][/right]
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The fate of the 4th largest IT venture in India is in a state of insecurity but not uncertain. The Govt of India cannot and will not allow it to collapse and most probably take over it and manage it to set a precendent like the US govt to support its eco system of enterprise and industry being conducive to investment.
Failing which the dent on the India is shinning and the Indian miracle of IT will take a very bad beating in which the investment community globally will be very apprehensive since the political environment combined with the recession has severely strained the system across the geographical territory.
Satyam Stake holders have lost Rs 9300 crores in one week since the disclosure. If we permit any more down fall then it may prove costly for the entire Indian industry and severly hit the indian IT sector and BPO segment creating shrinking of remuneration for employees in those industries and create a glut of work force taking away the dynamics of the Indian miracle in silicon valley.
Satyam Employees if not restrained from quiting the company then there will be a situation where the rest of the industry will also fear a phobia of pink slip and desperate workforce ready to take any job for surviving and forever destroying the economics of the IT industry.
This can kill the development and growth we have had so far in IT and it will be not too far when China completely supersedes India in its advantage as an IT Super power. They are atleast 10 years behind us in the sytems and process that we have gradually developed.
Therefore to prevent poaching and unhealthy Industry situation the govt must take serious action in partnership with the IT majors like Wipro,TCS and Infosys. Satyam must survive and retain its staff and competency. Otherwise it will be a bigger blow to the image of Indian economy reeling under already the mumbai attack and recession.
And the most important thing is to curb the trend NOW as this is nothing less than financial terror . With 53,000 employees on the block and another few hundred thousand people who are dependent on this IT phenomenon
A bad precedence set means many more will follow and its another way to stop India progressing and take the steam out of India just what the mumbai attackers had planned.They killed people directly but this phenomenon will kill Indian in thousands slowly with joblessness and financial distress
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.
Â
Satyam guys are not committing suicide; it means they are not scared. No guilt, and know very well they can get away.
[right][snapback]93058[/snapback][/right]
<!--QuoteEnd--><!--QuoteEEnd-->
The fate of the 4th largest IT venture in India is in a state of insecurity but not uncertain. The Govt of India cannot and will not allow it to collapse and most probably take over it and manage it to set a precendent like the US govt to support its eco system of enterprise and industry being conducive to investment.
Failing which the dent on the India is shinning and the Indian miracle of IT will take a very bad beating in which the investment community globally will be very apprehensive since the political environment combined with the recession has severely strained the system across the geographical territory.
Satyam Stake holders have lost Rs 9300 crores in one week since the disclosure. If we permit any more down fall then it may prove costly for the entire Indian industry and severly hit the indian IT sector and BPO segment creating shrinking of remuneration for employees in those industries and create a glut of work force taking away the dynamics of the Indian miracle in silicon valley.
Satyam Employees if not restrained from quiting the company then there will be a situation where the rest of the industry will also fear a phobia of pink slip and desperate workforce ready to take any job for surviving and forever destroying the economics of the IT industry.
This can kill the development and growth we have had so far in IT and it will be not too far when China completely supersedes India in its advantage as an IT Super power. They are atleast 10 years behind us in the sytems and process that we have gradually developed.
Therefore to prevent poaching and unhealthy Industry situation the govt must take serious action in partnership with the IT majors like Wipro,TCS and Infosys. Satyam must survive and retain its staff and competency. Otherwise it will be a bigger blow to the image of Indian economy reeling under already the mumbai attack and recession.
And the most important thing is to curb the trend NOW as this is nothing less than financial terror . With 53,000 employees on the block and another few hundred thousand people who are dependent on this IT phenomenon
A bad precedence set means many more will follow and its another way to stop India progressing and take the steam out of India just what the mumbai attackers had planned.They killed people directly but this phenomenon will kill Indian in thousands slowly with joblessness and financial distress