Will Satyam Computers go bankrupt? Raju resigns

[dd_wingrider]

Satyam stocks are getting Traded in good amounts, i wonder who is buying , may one's who will buy large stocks to have a great stake in company, when it out goes for sale !!

I may be wrong dunno

 

[esumitkumar]

That resignation letter is quite explainable ..but still lots of questions !!

++1 to dd_wingrider for posting the link

 

[confused!!]

An honest question: Why Satyam showed fake profits???What was their motive

 

[p!e]

Some facts about SATYAM

*Employs 53,000 people, operates in 66 countries
*Won 2008 global award for excellence in corporate governance by World Council for Corporate Governance (WCFCG)
*Becomes official IT services provider for the FIFA World Cups, 2010 and 2014
*Ramalinga Raju, Satyam's founder and chairman, won Ernst & Young's 2007 entrepreneur of the year award

SOURCE *news.bbc.co.uk/2/hi/business/7815031.stm

 

[MetalheadGautham]

zomg! shares that low ?
Am I glad I asked my dad to buy infosys not satyam... phew...

 

[NucleusKore]

Too bad for shareholders

*s269.photobucket.com/albums/jj44/visio159/Unismilies/38large.png

 

[karnivore]

It is really unfortunate that Satyam fudged its accounts, particularly when PWC was their auditor. ICAI has its work cut out. Come to think of it, I was with PWC for some time.

 

[rhitwick]

zomg! shares that low ?
Am I glad I asked my dad to buy infosys not satyam... phew...

yes, u should be...Satyam out from NSE from 12th...

 

[thewisecrab]

I'm screwed...

Why? Or more importantly, how?

An honest question: Why Satyam showed fake profits???What was their motive

It all boils down to greed or honesty. If you are honest, you may not get great results but atleast your are safe.
If you are greedy, well, need I explain?

zomg! shares that low ?
Am I glad I asked my dad to buy infosys not satyam... phew...

Lucky you.

 

[Kl@w-24]

Why? Or more importantly, how?

Long story. In short, I was selected in 2 companies. I ditched the other one (Tech Mahindra) for Satyam, waited for 6+ months and now I've got bugger-all to show for it.

 

[gforce23]

Reading that 5 page letter gives me the shivers. Satyam has a net operating margin of just 3%?!? That is seriously thin.
I'm beginning to think there's a lot more to this than just the facts in the letter.

P.S.: Tough luck Kl@w-24. Keep your chin up man and hope for the best.
P.P.S.: You might want to start checking out job web sites like TimesJobs too, just to be on the safer side you know.

 

[Kl@w-24]

P.S.: Tough luck Kl@w-24. Keep your chin up man and hope for the best.
P.P.S.: You might want to start checking out job web sites like TimesJobs too, just to be on the safer side you know.

I've already registered at 3-4 job sites. And yeah, it's better that all of this has happened right at the beginning of my career when I've still got a few options

 

[thewisecrab]

Long story. In short, I was selected in 2 companies. I ditched the other one (Tech Mahindra) for Satyam, waited for 6+ months and now I've got bugger-all to show for it.

Oh...
Still, wish you all the best for the future

 

[Kl@w-24]

Oh...
Still, wish you all the best for the future

Thanks mate! I'll need it

 

[mehra.rakesh]

Some facts about SATYAM

*Employs 53,000 people, operates in 66 countries
*Won 2008 global award for excellence in corporate governance by World Council for Corporate Governance (WCFCG)
*Becomes official IT services provider for the FIFA World Cups, 2010 and 2014
*Ramalinga Raju, Satyam's founder and chairman, won Ernst & Young's 2007 entrepreneur of the year award

[/URL]

HAHAHA ...... really gud one ... corp governance award 4 satyam
it was clear that something was fishy in accounts 4m a long time especially after the maytas fiasco..... neways very brave of mr.raju to come out in the open.....

more unwanted pain for the economy .....

 

[thewisecrab]

HAHAHA ...... really gud one ... corp governance award 4 satyam
..... neways very brave of mr.raju to come out in the open.........

What? brave?
It was cowardly if you ask me, to say that they have fudged papers, booked fake profits, and then resign leaving the company in the loop.

 

[amitabhishek]

very soon enterprising film producer will try to make a film based on the whole saga

Yes and that guy will be none other than Madhur Bhandarkar. KK Menon will play an alcoholic Raju. He will be gay and straight at the same time. The name of the movie will be "Software" .

 

[thewisecrab]

Yes and that guy will be none other than Madhur Bhandarkar. KK Menon will play an alcoholic Raju. He will be gay and straight at the same time. The name of the movie will be "Software" .

ROFL A better name would be "Asatyam" (Falsehood )
But, seriously, this is a grave issue.
Satyam has been removed from Nifty and Singapore Index as a result of this.

 

[hellgate]

Long story. In short, I was selected in 2 companies. I ditched the other one (Tech Mahindra) for Satyam, waited for 6+ months and now I've got bugger-all to show for it.

me too bro was waitin 4 doj from Satyam for the past 7 months and now all my hopes of joining Satyam r shattered.

theres only 1 hope for me now i.e doj from L&T Infotech.hope they send it quickly and nothing similar happens to them too.

 

[patkim]

An honest question: Why Satyam showed fake profits???What was their motive

IMHO the company was caught up between the devil and the deep sea. If you show real profits..you may loose investors and share price will start falling down..which anyways is not a good sign.

If you don’t want to or can not afford to take this risk, then you may probably have to take another risk of ‘fake it until you can make it’
Sadly it could not make it.