The massive accounting fraud at Indian IT services provider Satyam Computer demonstrates the perils to U.S. and European companies of outsourcing. Over the last two decades, American and European firms like GE, Goldman Sachs, Siemens, Morgan Stanley and countless others have rushed heedlessly to outsource their IT work to Indian companies to reduce their costs. […]
With the disclosure today of the massive accounting fraud at Satyam Computer, the 53,000 IT coolies at the company must surely be crapping in their undies wondering what will happen to their jobs. Yes, many thousands of Satyam employees will lose their jobs. And many of them will find it very difficult to land new […]
The short answer is No. While there will definitely be some minor irregularities here and there, we think it unlikely that the top management of Infosys, Wipro and Mindtree would stoop to the level of Satyam crooks like B.Ramalinga Raju who committed massive fraud and cooked up the books for several years. We are familiar […]
Unless Lord Balaji of Tirupati decides to perform one of his miracle acts, it seems like the end of the road of Indian IT services provider  Satyam Computer Services, at least in its present form. The Satyam brand is tarnished beyond recovery. The Satyam name is mud today after disclosures of massive fraud at the […]
Ask not if Satyam Computer Chairman B.Ramalinga Raju will be arrested. Ask when Ramalinga Raju will be arrested. After acknowledging committing one of the biggest frauds in Indian corporate history, we’d surprised if Ramalinga Raju does not spend considerable time as a guest of the Indian prison system. In what seems like a resigned awareness of […]
Shares of Indian IT services provider Satyam Computer crashed today on the Bombay Stock Exchange after the company’s chairman B.Ramalinga Raju acknowledged massive fraud in the company’s accounts. On the Bombay Stock Exchange today, Satyam shares fell 77.69% to Rs 39.95. Ramalinga Raju said in a letter to the company’s board that the fraud had […]