Wednesday, January 07, 2009

Let satyam be saved

Today's revelation by Mr. Ramalinga Raju, Satyam Chairman, about the inflation in the financial statements of the company are very much shocking.

He must be going through very difficult times, at least for the last few months. As he mentioned, it is really difficult to manage the "tiger ride". He might be honest and was trying to bring normalcy in the company affairs. Also it could be possible that he is saving real culprits.
Raju's statement says it all. an excerpt.

"Every attempt made to eliminate the gap failed. As the promoters held a small percentage of equity, the concern was that poor performance would result in a take-over, thereby exposing the gap. It was like riding a tiger, not knowing how to get off without being eaten."

It is time, Government should come forward and protect the interests of the stake holders,employees, customers. We cannot just blame and kill Satyam.This world class company must make a come back. Every one who have a chance to make this happen, should provide all the support and let the "come back" happen

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