The Satyam Fiasco

The world is abuzz with news of startling revelations by Satyam Computer Services Chairman, B. Ramalinga Raju, pertaining to the cooked-up books of the fourth largest IT company in India.

The repercussions are horrible, by pessimist standards, and awesome, by optimist viewpoint.

Pessimist

1. Zero value, overnight

2. Tarnished image

3. Exodus of clients to other IT companies

4. Future of 45000 employees (its not 53000, they had 'forced' almost 8000 employees to resign)

Optimist

1. Dead-wood managers to be shown door in case of a takeover

2. Worthy employees would finally have a say

3. Professionalism by elimination of regionalism (ya ya, u can screw me on that, but it is existent in huge proportions), in case of a take-over

4. Amazing human capital would not be lost for the greed of a few

The issues

1. Why would another company 'touch' a tarnished company like Satyam?

2. What is the fair price for a buyout, considering the fact that the whole company was built up on space-ship-loads of lies?

3. If the human capital leaves, and so do the clients, what is left to buy?

Why am I writing this?

A. I am a Satyam employee, hardly a year into the organization. I have been the hardest hit. My future is bleak. I have credit card debt. I have a personal loan to re-pay. My total liability : Huge!

Wish I could cook the books to 'fill the minute gap'.