Raju will be accepted back

http://www.rediff.com/money/2009/jan/17satyam-once-hes-out-the-society-will-embrace-raju.htm

This puts what most of us think in perspective. You have a lots of investigations going on, what will come of it? What came out of Harshad Mehta, Telgi, JMM, Bofors, Tehelka ? The facts get muddled, what is right or wrong gets lost further from what we can comprehend. We will just harbour the feeling that something was wrong, a lot of people were involved.

But what happened exactly will soon get lost, the numbers (whatever you can make of them) would come out, a few more stories. And thats about it.

Raju is a celebrity atleast. Maybe a book ?

Bailout for Fraud?

http://ibnlive.in.com/news/satyam-may-get-rs-2k-cr-govt-aid--debate-worth-it/82663-7.html

There are bailout s and then there are bailouts. The Indian Govt. plans to give 2,000 cr to Satyam to pay salaries. Good business model this, create company indulge in fraud and govt. will bail you out.

There are more frauds to be unearthed here. Tip of iceberg shall we say?

God bless the govt., now the poor employees will at least get salaries.

The gults are here

Indian workplace has many cultural undertones that are clearly defined.

Mumbaikar: Cosmo

Ghati: Local populace of a metro

Delhiwala: Pompous, you know dont you :) (if you dint, it typically refers to the one who knows the value of everything but the price of none types)

Punjabi: Not Singh is King, but definitely up there - you cant really miss them can you?

Sardarji: Singh is King

Madrasi: The delhiwala classfication to all south indians.

Tam (usually with a bram): 0 or 1 types. Sambhar/curd rice loving freaks and usually the butt of a lot of jokes (and possibly huge rice driven butt/bellies too)

Mallus: Em,vo yet another vo, yen. Brilliant, creative you need them - even if their fantasy does not go beyond Shakeela

Then there are the Gujju s: Now we are talking, Gujju s are a class apart, the rest of them talk and make fun of the Gujjus - at their tastes, clothes,food, group sex (groupism), their petty politics, their garishness etc - while marveling at their spectacular sense of numbers. You need their competence and they dont mind being mocked. Usually not :D

Now here come the gults to give competition: I never know the gult stereotype existed other than in IT, they mostly go abroad and save money. Turns out that its a strong stereo type, apparently other than Gujju s the only community to have effectively done fraud are the Gults. Satyam takes the crowning glory, now we have competition to the Ketan Parekhs and the Harshad Mehta s.

Stereotypes themselves are such a pity, that this episode had to cast a gult stereotype is extremely sad.

Dont think that a gult stereotype has set in? Look at the Hyderabad based company stocks for the last 2 days. Raju saab, kya kiya aapne?

Satyam: What does it mean?

Initial feed back seems to be one of disbelief. The money was already siphoned off and what we are now seeing is methods of covering up the tracks. More likely that Raju was trying to save his family over himself. (Madoff inspired).

It transpires that lots of IT analysts always wondered about the quality of the Satyam earnings but always believed that with size and the US listing the underlying problems have evaporated. Funny, no one knows till it happens.

Whatever be the end game, we are at the end of an era. During the bull markets, not only did valuations get bumped up, overall crucial pieces of governance were swept under the carpet. All that is going to change in one single event. Investors are going to require higher levels of compliance before putting money to work and the world is going to look at SEBI s response to protecting global investor wealth. (The SEC is no angel/maybe far far worse , but its easier to point fingers at emerging economies). If we thought sentiments were turning, we just stepped right into October. This happens during bear markets the experienced hands tell me.

In fact, many believe that Satyam should be the first of the India corporate horror stories. This is my first bear market, I just hope that this is an isolated case.