All with Satyam....
HERE I WOULD STOP UPDATING... THANKS FOR CHECKING THIS LINK OUT...
The world is recovering its confidence in India Inc today but we in the Indian IT sector cannot afford to blink!!! (4/27)
It is said that Layoffs of about 12-14k would be done in the quarter... (4/27)
Price Water House, Bangalore and Price Water House are different entities.. (4/26)
Both Auditors were involved in the Scam... (4/26)
PWC has verified the account in 2206/07 and communicated to Audit Team the Head IT but with assertion that the IT Systems are not fully integrated and are subject to manipulation... (4/25)
Satyam would run as Standalone Unit... Anand Mahindra says "We are on our way to a very viable Future".... (4/21)
New Investigations say that Still there are some Insiders (Some Linked Organizations too..) who were knowing about the fraud from long time and they have sold off the shares just before confession... (4/20)
Ex-Ex-HCL, Ex Tech Mahindra Group would head New Satyam Board... (4/18)
Insider named Jose Abraham was the person who has sent a mail to Independent Director about Insufficient Liquidity... Maybe this has fired up and then confession came into picture... (4/17)
Job for 5000 Associates were not there all time... These associates were on bench all time... These was done for closing off the inflated numbers... (4/16)
Tech Mahindra's would name CEO soon, Probably he would be an outsider... (4/15)
Mahindra's would work in such a fashion that only profitable business would be retained.... (4/14)
British Telecom were not interested with Satyam's Bid... 40% Stake of Tech Mahindra is owned by BT... (4/14)
Vineet Nayyar seems proactive and it is been said that he would lead the Complete team... (4/14)
Operating Margin is 3% for this company whereas TechMahindra's is more than 12%.. (4/14)
Still there are 6000 odd employees on bench and now 2500+ employees are expected to move to the bench... (4/14)
Ramalinga Raju is very happy about Tech Mahindra acquisition... (4/13)
Anand Mahindra the Man who is the emperor for the company and shown how to lead the acquisition process... He was silent from the first and showed the way to go!!! Once the chairman of CII and also called as "Man behind Real Manufactoring Boom in India".... (4/13)
AS Murthy giving statements... I think stop doing it, Tech Mahindra knows how to handle it... (4/13)
Now it is time to grow and seems it would grow in faster rate... Big people have told broad ideas for Satyam growth... (4/13)
Why CTS+Ross quoted 20/Share?? Less than half of L&T and 35% of Tech Mahindra... (4/13)
Also it is said till today, Company has lost 41 contracts... (4/13)
Rs.58 was the bidding price... Nearest price was 48.50 which L&T offered... (4/13)
Credit should go to Government and the Board who had done the process cleanly.. (4/13)
Who would be IN and who would be OUT?? That's the next part... (4/13)
Tech Mahindra has won the bid... (4/13)
Company still among top 5 software firms... (4/12)
Still Company sees annual revenue at $1.5-$1.7 bln-sources so what's the problem facing?? (4/12)
It is understood that Ross is also out of Race... (4/11)
LIC had incurred 948Cr loss due to the scam... (4/11)
At the end of 2008, Raju shares was 1.27% in the company... (4/11)
Senior Legal analyst says that the liabilities which are law suits can be evaded with less than 10% what it claims... (4/10)
Potential Bidder need not pay Rs 1,230cr Liability which Raju had claimed earlier... (4/09)
Total value of Company’s landbank is estimated at Rs1,800 crore... (4/09)
Company has attacked Pension Funds to Limit Suit Liability... (4/09)
Sources says Tech Mahindra also not keen in continuing the Bid Process... (4/08)
It's now IBM pulled out of race... (4/07)
Scam started with adjustment of just 10 Cr 6years ago... Now with Quarter on Quarter adjustment the scam is about 7k Cr... (4/07)
Ross & Co looking to tie-up the Potential Bidder... (4/07)
Now Employees (around 2000) forms a Union and wants authorities to complete the investigations before allowing for bidding.. (4/07)
It is understood that there around 8000-10000 Employees on bench.. (4/06)
Senior Employees (I Band) have agreed to forgo salary revision for this financial year... (4/06)
It is said only 4 suitors for final round... L&T, Ross, Tech Mahindra and Spice... Understand that Ross had tie-up with CTS... Winner would be selected on Apr 13... (4/06)
Forrester offers advisory to existing Customers saying "Please look for alternate plan for shifting the projects"... Also it added L&T is the better corporate to manage this acquisition... (4/06)
CBI arrested other VP Financier (RamaKrishna) and other two Venkatpati Raju and Srisailam.. (4/06) ---> Is this my BLOG Impact?? I had questioned the same on 4/04
Sources say that PwC Auditors were innocent and they have performed their duties as per the standards... (4/06)
Former CFO wanted to resign four times in last five years... But somehow continuing thinking a day would come and problem would be solved... (4/06)
No REAL NEWS is out... Still company is doing same what Raju did - give a false picture outside- saying people are not being laid-off. In reality HR calls and forces people to resign and very happily accepts their 'resignation' immediately. Such a sorry state of affairs.... (4/05)
Which projects remains back?? Understand lot of projects leaving the company day-by-day.. (4/05)
Very few are leaving for available opportunities... (4/05)
Some associates are being asked to resign forcefully (these are mostly non-billable)... (4/04)
Why shouldn't the other conspirators brought to book? People are happily sitting in US and the others drawing salaries in India.. (4/04)
Some associates are being re-badged (taken away along with leaving clients/projects)... (4/04)
As of today "Satyam now has approximate 43500 associates"... (4/04)
There is talk now that the new company, whichever that is, will cut at least 10,000 jobs gradually.... (4/04)
Inside story seems very bad "Some people are leaving and some people are being asked to leave. And important positions remaining vacant no candidate willing to take it up" As of one of the newspaper reported... (4/04)
W L Ross & Co has completed the due diligence on assets and liabilities, On the financial front, it is told that company is reportedly not facing any problem as the new board has tied up Rs 600 crore (Rs 6 billion) for working capital expenditure and paying salaries from IDBI and Bank of Baroda.. (4/04)
Still confusion prevails with Bidding process. Now it is recommended that there is no second round of bidding process unless at least 90% of the highest bid... (4/04)
Satyam was disqualified from an BSNL contract for implementing enterprise resource planning systems as it was unable to provide a letter of comfort from any bank (4/03)
About 300 Merrill Lynch Project Associates joined Bank of America - MNC Company - Confirmed report (4/02)
Few employees have joined other companies for 10-15% lesser salary for the reason of Job Security... (4/01)
Freshers have joined in a group and they are planning to meet management somewhere next week... (4/01)
Account/Project level co-ordination is ON... As few projects are going of control so Employees with their leaders are planning to jump with Technology... (3/31)
Employees are quitting in groups... MNC's are also looking for associates in group because of Quality and less price... (3/30)
Satyam received top honors at 10th Annual Corporate Xchange Awards for Excellence and Innovation in Corporate Learning... (3/30)
Sources says by month end successful bidder would be chosen... (3/29)
BSNL opts for HCL for ERP implementation tho' Satyam was in the race... (3/29)
Report says Still there are undisclosed events by Raju... (3/28)
Telstra project was bagged by Infosys after huge speculations... (3/27)
Company started to Short list Key employees and only this Employees would be retained after takeover... (3/27)
Company was selected to provide Engeering services to AirBus... (3/27)
Spice is likely to walk back as the process is uncomfortable to them... (3/26)
Company is trying to retain key employees till Apr 30... (3/26)
Company is laying off left and right... (3/25)
What does Buying here means?? "Buying is purely for the IT Brains and Rich Domain Experience Manpower and Knowledge Management"... 3/25
Bagged new project from local Hyderabad for SAP Implementation... (3/24)
Seems Customer "Selective Insurance Co." existing... (3/24)
Why iGate walked back? Unknown margins and liabilities which is unsolved problem as of now... (3/23)
Company has sent a deferred letters to Freshers who were recruited in campus... (3/22)
United Nations has issued a notice to take back all projects... (3/22)
According to reliable sources, Attribution Rate is high and now the strength has been reduced to 40k... (3/21)
Rain CII Carbon was recognized as best in class manufacturers from around the world. CII in turn recognized Satyam's work towards the achieving the target - Satyam has helped them to reengineer its plant turnaround process... (3/20)
Customers are looking for alternatives in case the company is unable to restore internal stability... (3/20)
After seeing liabilities few companies decided to go back... (3/19)
Internal sources says it got new Outsourcing order from Europe (Food Company)... (3/18)
Telstra's canceling account is made public now... (3/16)
L&T fighting to get the Company "AS-IS".. (3/16)
Sources says around 50+ Customers are not interested... They are not talking about new project but for the existing also not interested... (3/15)
Around 5000+ associates are out after Jan 7... (3/14)
Big Companies are getting projects with 25% reduction of total cost as they wanted new client in the bucket... (3/13)
Fidelity not intersted in Bidding whereas iGate bidded... (3/12)
Few Companies are not interested to bid as Legal and Financial Risks related to Scandal are not yet revealed. Also lack of clarity on the extent of Liabilities unknown... (3/11)
By this week CBI may take over the case... (3/10)
EDS is looking for one more deal thro' HP... (3/09)
Last 2 days stock has raised more than 30%... From here?? (3/09)
Associates who are billable and allocated to Critical Project wouldn't have any effect... Thou' Variable salary and all allowance wouldn't be provided... (3/08)
Finally "Trimming Salesforce overseas is imminent"... (3/08)
IBM may be the winner (Working very hard in the background)... (3/07)
Complete process would be completed by April end - by New Board... (3/06)
Qantas planning for its own Office in India... (3/05)
Younger Raju (Suryanarayana Raju) gets anticipatory bail... (3/05)
Nissan and Pfizer are in talks with TCS and INFY... (3/05)
Satyam stands top in H1B Visas issued for lost several years... (3/05)
Now Oracle is eying on the Business... (3/04)
After Suspending Variable Pay, Company would save almost 400 Cr... Top Management would loose 50% pay package (On an Average).... (3/04)
IBM keen on buying, but only decide after evaluations... (3/04)
Why can't set of Employees buy the company?? Why it has to sell to unknown entity... Wakeup guys do something... Make a group, start talking to Board... --> If you ask me this is the best bet we can go for... (3/03)
Caterpillar again hinting to terminate the account; Also same with SANDISK... (3/02)
$ against Re is 52.... Why all this happening?? Is it US or India for Recession?? (3/02)
If HCL buys, HCL all set to become First largest Software Firm.... (3/02)
More chance are for Liquidation... If this is the signal everyone has to be worried.... (3/02)
Clients would shift if there is no decision taken soon... Also understood that Clients are grouping up and discussing about the same... (3/01)
Fidelity says it has raised the stake to 10%... (3/01)
Few Health Care projects are on the way to the company... (2/28)
Sale may not take place as there is Law Suit (US)
"Law Firm seeking an injunction against any sale until cases are resolved"... (2/28)
Sale Price may come upto 75Rs.... Analysts says anywhere 55+ is good deal... (2/28)
Now Bankers suggests for 51% Stake sale (most would be open offer)... Earlier Hinduja and Spice Team told the same.... (2/27)
SEBI issues a notice to PWH Auditors now (may just 50 days late)... (2/27)
How big the new US project is?? Chairman is happy saying a US Project has arrived.. (2/26)
L&T has 700 Crore stake in the company... (2/26)
Company's business is of worth 6800 Cr/Annum and it is sale for 2500 Cr (51% stake)... (2/26)
When would diverted funds would be back to the company? Still the investigation is ON and if at all it proves that there is any diversion then the funds would be bought back... Govt. Seems to be very positive of proving the funds diversion... (2/26)
A.M.Naik says whoever buys the company will create a lot of value in it... (2/25)
Opposition (BJP) at Centre says there is no value to bailout or help any fraud hit company... (2/25)
Ram Mynampati says he wasnt aware about any Financial dealings inside the company... (2/24)
Company receives UnSolicited funding Offers from Banks... (2/24)
Reports says L&T owning much of the stakes in Satyam indirectly... (2/23)
Ex-Satyamite (Team Member) is Head SAP Practice at Australian Top 10 Company (Revolution IT).. (2/23)
No Compensation for Investors.... Strongly feel Investors should have been taken care.... (2/22)
Last week, Two Accounts got renewed by Sources.... (2/22)
Still there isn't correct picture about the strategic deal... There isn't much time to do it.... Require to act fast... (2/21)
World Bank debarment "Improper benefits to Bank Staff and Lack of Documentation and Invoices" (2/21)
Companies are going one step back and even iGate is not in race... They are concerned about the valuation... (2/20)
CEO asks for personal sacrifices... Everyone in the every company would or require to do personal sacrifices then only the Company or Individual would grow.... Anyway NRN has commented otherway round "Don't love your company and love your work".... (2/20)
Govt. wouldn't bail out any Fraud hit companies... (2/19)
Great move of Cutting costs wherever possible.... But require to act fast.... (2/19)
Would CBI would be capable of doing the investigation?? It is very difficult to Investigate at least like this case (Standalone)... (2/18)
It takes ONLY Six Months to reinstate accounts!!!! --> KPMG (2/18)
Would the company pay Feb Salary? Board has understood the reality now and it is also said that over 25% of associates were on bench for 2008 Calendar Year... It would account for more than 150Cr alone fr0m the Salary perspective... (2/18)
My Impact (Feb 16th Statement): Parek's says "Buyer would emerge by the month end... (2/18) ::))
Sources says few onsite associates been called back... Calling associates wouldn't be enough or no use, Higher & Mid level Management with no work still at Onsite... (2/18)
Telstra, Cigna, Qantas & Coca-cola has given clean chit to the company again.... (2/18)
Brand Name has to change as early as possible to get rid of old things.... (2/17)
Still management is the same except Board... When this would change?? (2/17)
Good Move: Trimming Senior Management... (2/17)
Now act soon guys!!!! No time.... One of the VP resigned today... (2/16)
CEO says "No timeline can be committed at this stage" --> Why this delay and what's the use of delaying things at this stage?? You may find losing customers, depletion of staff and liabilities (2/16)
There's a great battle going on between Modi (Spice) and Naik (L&T) (2/15)
Merryill Lynch would shift the vendor soon... (2/15)
Whatever the case is Cisco want to Partner Saytam.... (2/14)
Ranked 8th Best Training Institute in the WORLD for learning programs for internal Associates... (2/12)
Raju has pledged all his shares to Banks.... Where is the money??? Why so much required??? (2/12)
Lot of things would be discussed on Thursday's Board Meet... Major discussion would be "Can we sell SATYAM in Parts"... (2/11)
Rivals are playing their part very well.... Understand IBM has already approached bigger clients and specified them... (2/11)
Some more Prestigious Clients are going out... Bleeding is not stopping yet.... (2/11)
What has Govt done, Now what is the status???
"Giving away cheap land is not promoting industrialization; creating a corruption-free environment and simplified procedures is."
iGate not interested to bid or buy.... (2/10)
It is said that Satyam has borrowed $100M to meet short term capital.... (2/9)
Hari T the spokesman told "Satyam is battling for survival".... This shouldn't been commented... (2/9)
How did Hyderbadi's grew?
As recently as the late 1940s the region was feudal and largely poor, with little industry and virtually no middle class, though many farmers had extensive land holdings. When Hyderabad became the capital of Andhra Pradesh state in 1956, the rich farmers got into the construction business. Major infrastructure projects were launched and local companies with little experience—but strong political ties—emerged to win government contracts.
Now seems that time has come to tell Good Bye to Non-billable associates... (2/9)
Confirmed Report: Assurant and Visa are out of Satyam's Client List, Contract was worth $20M... (2/8)
Independent Directors were in involved in the Scam.... (2/8)
4 companies in the list who wants (Spice, L&T, Hinduja & M&M)... (2/7)
New CEO, Old CEO, Old Chairman all are same??? SEBI has pointed out of doing INSIDE TRADING with BRAND NEW CEO.... (2/7)
Why Insider was selected as CEO?
i) To specify clients
ii) Employees wouldn't have supported
iii) Insider would understand and work immediately
iv) Frequency has to be matched. Many times it was working as Govt Organization
v) Important: Eventually Company would be sold and new management would decide the Chairman and CEO, Time being some one has to own and support
First case filed against Auditors.... (2/6)
Board may name CEO on Friday!!!! -(2/5)
Now WHO is complaining about the Technicality of its project which was outsourced... (2/5)
Nationalized Banks would book huge losses this quarter as exposure seems as much as 100 Billion --2/4
Real Love is when your Gal Friend accepts you after knowing that you are still with Satyam..... (This concept from one of my close colleague) --(2/3)
NAB (6th largest client for Satyam and one of the most prestigious client) may suspend all services from the company... (2/3)
Company has Assets, Business, Clients but it is really profitable as of now?? It is profitable as L&T and Tech Mahindra likes to do an open offer to buy it out completely --- (2/2)
Top Client (Bombardier) requires a assurance from someone either Govt. or Management (New) that operations would be carried out smoothly... (2/2)
You know why Companies are interested to buy Satyam... (Now it is the turn of Hinduja - One more HEAVY WEIGHT industrialist)
It is understood that 'SEBI has the rules in of Law that The buyout of any company would be 2 Weeks Average Price in this case it would be the Rock Bottom Price or the THROW AWAY PRICE' --(2/1)
In January total signed & renewed contracts goes up to 15....
How Clients would stay back???
To assure Oversight Clients, Govt. had decided give few projects to Satyam includes Indian Railways, BSNL, Vizag Steel Plant.... However GE (Biggest Entity) and Bird's Eye confirmed they would continue with Satyam.... (1/30)
4 more clients (12+) has pulled off..... (1/30)
It is Understood that few clients wanted to exist "Coca-Cola, Telstra, Nestlé, British Petroleum and Cigna".... Telstra has not invited Satyam for new contract plans...
BK Modi is ready to buy SATYAM with existing liabilities.... BK Modi sold Spice Telecom - Karnataka to IDEA and now ready for SATYAM.... I see it is good bet for both... As everyone knows BK Modi is well known industrialist and he is having innovative thinking.... (1/29)
Former Tata Chemicals Ltd managing director Homi Khusrokhan has emerged as the front-runner to become the next chief executive officer.... (1/29)
Ohhh now!!! IT Partner Bill of Rights which says right to breath and right to tell yes --> Basically anything client requires (1/29)
CEO/CFO would be named on Friday India time... Already so many guesses out there.... But they are trying someone from Outside rather picking someone inside --> Sources (1/28)
Why shares going up and up and up??? Brokers are rallying the stock for the assets and buyers are buying it... what is the extent?? It would be around 70-80Rs.... --1/28
What would happen to the Bond Money (2L) which Employees have paid while joining as ELTP's?? --1/27
Why did Caterpillar pulled off??? ---> More than the Scam, Caterpillar has built its own resources in India for its IT Operation ---1/27
Applied Materials has already started moving projects to TCS..... 1/26 (Times of India)
Mr. Raju still gets STAR Treatment.... 1/26
8th Client has pulled off!!!! I believe many more to come.....
People/Organization who are interested with Satyam are only interested with Assets and Clients and not the mess.... who would buy the Mess that we are talking about???? - 1/25
Why did Raju Confess (Rather why did he resign) --> There was misunderstanding with the board about some serious Fraud matters...
Satyam inside-out story being sold for Rs.499!!! Ohh no it is 499$
CIGNA
A buyer will have to take the responsibility for the company, and I don't think any one will take a shot in the dark before the accounts are restated and the legal issues are resolved
"Satyam, Sharam, Scandalam."
It is said that SAP revenue is going down due to Satyam....
Australian Clients have come back straight for SAP
Come on come on!!!! HCL should buy Satyam.......
i) Is Satyam really 53k employees!!! It is understood from sources that this numbers were also manipulated at large extent to match with the Business
ii) Why Institutional Investors sold off?? Understand that they wanted to have more liquidity and wanted to invest on some other profit making portfolios... They have sold approx. 7% (26Lacs share)
iii) Nestle and Telstra are looking for alternate vendor... Both have not directly declined but they are looking for alternate vendor
iv) No bailout and Banks are unwilling to lend money to the company
All the posts are straight from me!!!
1/19
The popular nursery rhyme, 'Johny, Johny, Yes Papa' has made way for "Raju Raju, Yes Baba, Cheating us, No Baba, Telling Lies, No Baba, Open your accounts, Ha Ha Ha".
Additional Updates:
Firms lick their lips for Satyam specialists --1/20
The world is recovering its confidence in India Inc today but we in the Indian IT sector cannot afford to blink!!! (4/27)
It is said that Layoffs of about 12-14k would be done in the quarter... (4/27)
Price Water House, Bangalore and Price Water House are different entities.. (4/26)
Both Auditors were involved in the Scam... (4/26)
PWC has verified the account in 2206/07 and communicated to Audit Team the Head IT but with assertion that the IT Systems are not fully integrated and are subject to manipulation... (4/25)
Satyam would run as Standalone Unit... Anand Mahindra says "We are on our way to a very viable Future".... (4/21)
New Investigations say that Still there are some Insiders (Some Linked Organizations too..) who were knowing about the fraud from long time and they have sold off the shares just before confession... (4/20)
Ex-Ex-HCL, Ex Tech Mahindra Group would head New Satyam Board... (4/18)
Insider named Jose Abraham was the person who has sent a mail to Independent Director about Insufficient Liquidity... Maybe this has fired up and then confession came into picture... (4/17)
Job for 5000 Associates were not there all time... These associates were on bench all time... These was done for closing off the inflated numbers... (4/16)
Tech Mahindra's would name CEO soon, Probably he would be an outsider... (4/15)
Mahindra's would work in such a fashion that only profitable business would be retained.... (4/14)
British Telecom were not interested with Satyam's Bid... 40% Stake of Tech Mahindra is owned by BT... (4/14)
Vineet Nayyar seems proactive and it is been said that he would lead the Complete team... (4/14)
Operating Margin is 3% for this company whereas TechMahindra's is more than 12%.. (4/14)
Still there are 6000 odd employees on bench and now 2500+ employees are expected to move to the bench... (4/14)
Ramalinga Raju is very happy about Tech Mahindra acquisition... (4/13)
Anand Mahindra the Man who is the emperor for the company and shown how to lead the acquisition process... He was silent from the first and showed the way to go!!! Once the chairman of CII and also called as "Man behind Real Manufactoring Boom in India".... (4/13)
AS Murthy giving statements... I think stop doing it, Tech Mahindra knows how to handle it... (4/13)
Now it is time to grow and seems it would grow in faster rate... Big people have told broad ideas for Satyam growth... (4/13)
Why CTS+Ross quoted 20/Share?? Less than half of L&T and 35% of Tech Mahindra... (4/13)
Also it is said till today, Company has lost 41 contracts... (4/13)
Rs.58 was the bidding price... Nearest price was 48.50 which L&T offered... (4/13)
Credit should go to Government and the Board who had done the process cleanly.. (4/13)
Who would be IN and who would be OUT?? That's the next part... (4/13)
Tech Mahindra has won the bid... (4/13)
Company still among top 5 software firms... (4/12)
Still Company sees annual revenue at $1.5-$1.7 bln-sources so what's the problem facing?? (4/12)
It is understood that Ross is also out of Race... (4/11)
LIC had incurred 948Cr loss due to the scam... (4/11)
At the end of 2008, Raju shares was 1.27% in the company... (4/11)
Senior Legal analyst says that the liabilities which are law suits can be evaded with less than 10% what it claims... (4/10)
Potential Bidder need not pay Rs 1,230cr Liability which Raju had claimed earlier... (4/09)
Total value of Company’s landbank is estimated at Rs1,800 crore... (4/09)
Company has attacked Pension Funds to Limit Suit Liability... (4/09)
Sources says Tech Mahindra also not keen in continuing the Bid Process... (4/08)
It's now IBM pulled out of race... (4/07)
Scam started with adjustment of just 10 Cr 6years ago... Now with Quarter on Quarter adjustment the scam is about 7k Cr... (4/07)
Ross & Co looking to tie-up the Potential Bidder... (4/07)
Now Employees (around 2000) forms a Union and wants authorities to complete the investigations before allowing for bidding.. (4/07)
It is understood that there around 8000-10000 Employees on bench.. (4/06)
Senior Employees (I Band) have agreed to forgo salary revision for this financial year... (4/06)
It is said only 4 suitors for final round... L&T, Ross, Tech Mahindra and Spice... Understand that Ross had tie-up with CTS... Winner would be selected on Apr 13... (4/06)
Forrester offers advisory to existing Customers saying "Please look for alternate plan for shifting the projects"... Also it added L&T is the better corporate to manage this acquisition... (4/06)
CBI arrested other VP Financier (RamaKrishna) and other two Venkatpati Raju and Srisailam.. (4/06) ---> Is this my BLOG Impact?? I had questioned the same on 4/04
Sources say that PwC Auditors were innocent and they have performed their duties as per the standards... (4/06)
Former CFO wanted to resign four times in last five years... But somehow continuing thinking a day would come and problem would be solved... (4/06)
No REAL NEWS is out... Still company is doing same what Raju did - give a false picture outside- saying people are not being laid-off. In reality HR calls and forces people to resign and very happily accepts their 'resignation' immediately. Such a sorry state of affairs.... (4/05)
Which projects remains back?? Understand lot of projects leaving the company day-by-day.. (4/05)
Very few are leaving for available opportunities... (4/05)
Some associates are being asked to resign forcefully (these are mostly non-billable)... (4/04)
Why shouldn't the other conspirators brought to book? People are happily sitting in US and the others drawing salaries in India.. (4/04)
Some associates are being re-badged (taken away along with leaving clients/projects)... (4/04)
As of today "Satyam now has approximate 43500 associates"... (4/04)
There is talk now that the new company, whichever that is, will cut at least 10,000 jobs gradually.... (4/04)
Inside story seems very bad "Some people are leaving and some people are being asked to leave. And important positions remaining vacant no candidate willing to take it up" As of one of the newspaper reported... (4/04)
W L Ross & Co has completed the due diligence on assets and liabilities, On the financial front, it is told that company is reportedly not facing any problem as the new board has tied up Rs 600 crore (Rs 6 billion) for working capital expenditure and paying salaries from IDBI and Bank of Baroda.. (4/04)
Still confusion prevails with Bidding process. Now it is recommended that there is no second round of bidding process unless at least 90% of the highest bid... (4/04)
Satyam was disqualified from an BSNL contract for implementing enterprise resource planning systems as it was unable to provide a letter of comfort from any bank (4/03)
About 300 Merrill Lynch Project Associates joined Bank of America - MNC Company - Confirmed report (4/02)
Few employees have joined other companies for 10-15% lesser salary for the reason of Job Security... (4/01)
Freshers have joined in a group and they are planning to meet management somewhere next week... (4/01)
Account/Project level co-ordination is ON... As few projects are going of control so Employees with their leaders are planning to jump with Technology... (3/31)
Employees are quitting in groups... MNC's are also looking for associates in group because of Quality and less price... (3/30)
Satyam received top honors at 10th Annual Corporate Xchange Awards for Excellence and Innovation in Corporate Learning... (3/30)
Sources says by month end successful bidder would be chosen... (3/29)
BSNL opts for HCL for ERP implementation tho' Satyam was in the race... (3/29)
Report says Still there are undisclosed events by Raju... (3/28)
Telstra project was bagged by Infosys after huge speculations... (3/27)
Company started to Short list Key employees and only this Employees would be retained after takeover... (3/27)
Company was selected to provide Engeering services to AirBus... (3/27)
Spice is likely to walk back as the process is uncomfortable to them... (3/26)
Company is trying to retain key employees till Apr 30... (3/26)
Company is laying off left and right... (3/25)
What does Buying here means?? "Buying is purely for the IT Brains and Rich Domain Experience Manpower and Knowledge Management"... 3/25
Bagged new project from local Hyderabad for SAP Implementation... (3/24)
Seems Customer "Selective Insurance Co." existing... (3/24)
Why iGate walked back? Unknown margins and liabilities which is unsolved problem as of now... (3/23)
Company has sent a deferred letters to Freshers who were recruited in campus... (3/22)
United Nations has issued a notice to take back all projects... (3/22)
According to reliable sources, Attribution Rate is high and now the strength has been reduced to 40k... (3/21)
Rain CII Carbon was recognized as best in class manufacturers from around the world. CII in turn recognized Satyam's work towards the achieving the target - Satyam has helped them to reengineer its plant turnaround process... (3/20)
Customers are looking for alternatives in case the company is unable to restore internal stability... (3/20)
After seeing liabilities few companies decided to go back... (3/19)
Internal sources says it got new Outsourcing order from Europe (Food Company)... (3/18)
Telstra's canceling account is made public now... (3/16)
L&T fighting to get the Company "AS-IS".. (3/16)
Sources says around 50+ Customers are not interested... They are not talking about new project but for the existing also not interested... (3/15)
Around 5000+ associates are out after Jan 7... (3/14)
Big Companies are getting projects with 25% reduction of total cost as they wanted new client in the bucket... (3/13)
Fidelity not intersted in Bidding whereas iGate bidded... (3/12)
Few Companies are not interested to bid as Legal and Financial Risks related to Scandal are not yet revealed. Also lack of clarity on the extent of Liabilities unknown... (3/11)
By this week CBI may take over the case... (3/10)
EDS is looking for one more deal thro' HP... (3/09)
Last 2 days stock has raised more than 30%... From here?? (3/09)
Associates who are billable and allocated to Critical Project wouldn't have any effect... Thou' Variable salary and all allowance wouldn't be provided... (3/08)
Finally "Trimming Salesforce overseas is imminent"... (3/08)
IBM may be the winner (Working very hard in the background)... (3/07)
Complete process would be completed by April end - by New Board... (3/06)
Qantas planning for its own Office in India... (3/05)
Younger Raju (Suryanarayana Raju) gets anticipatory bail... (3/05)
Nissan and Pfizer are in talks with TCS and INFY... (3/05)
Satyam stands top in H1B Visas issued for lost several years... (3/05)
Now Oracle is eying on the Business... (3/04)
After Suspending Variable Pay, Company would save almost 400 Cr... Top Management would loose 50% pay package (On an Average).... (3/04)
IBM keen on buying, but only decide after evaluations... (3/04)
Why can't set of Employees buy the company?? Why it has to sell to unknown entity... Wakeup guys do something... Make a group, start talking to Board... --> If you ask me this is the best bet we can go for... (3/03)
What's Leadership team doing?? Planning to sell or move to the entity part by part... Some to IBM and some to TCS ... (3/03)
$ against Re is 52.... Why all this happening?? Is it US or India for Recession?? (3/02)
If HCL buys, HCL all set to become First largest Software Firm.... (3/02)
More chance are for Liquidation... If this is the signal everyone has to be worried.... (3/02)
Clients would shift if there is no decision taken soon... Also understood that Clients are grouping up and discussing about the same... (3/01)
Fidelity says it has raised the stake to 10%... (3/01)
Few Health Care projects are on the way to the company... (2/28)
Sale may not take place as there is Law Suit (US)
"Law Firm seeking an injunction against any sale until cases are resolved"... (2/28)
Sale Price may come upto 75Rs.... Analysts says anywhere 55+ is good deal... (2/28)
Now Bankers suggests for 51% Stake sale (most would be open offer)... Earlier Hinduja and Spice Team told the same.... (2/27)
SEBI issues a notice to PWH Auditors now (may just 50 days late)... (2/27)
How big the new US project is?? Chairman is happy saying a US Project has arrived.. (2/26)
L&T has 700 Crore stake in the company... (2/26)
Company's business is of worth 6800 Cr/Annum and it is sale for 2500 Cr (51% stake)... (2/26)
When would diverted funds would be back to the company? Still the investigation is ON and if at all it proves that there is any diversion then the funds would be bought back... Govt. Seems to be very positive of proving the funds diversion... (2/26)
A.M.Naik says whoever buys the company will create a lot of value in it... (2/25)
Opposition (BJP) at Centre says there is no value to bailout or help any fraud hit company... (2/25)
Ram Mynampati says he wasnt aware about any Financial dealings inside the company... (2/24)
Company receives UnSolicited funding Offers from Banks... (2/24)
Reports says L&T owning much of the stakes in Satyam indirectly... (2/23)
Ex-Satyamite (Team Member) is Head SAP Practice at Australian Top 10 Company (Revolution IT).. (2/23)
No Compensation for Investors.... Strongly feel Investors should have been taken care.... (2/22)
Last week, Two Accounts got renewed by Sources.... (2/22)
Still there isn't correct picture about the strategic deal... There isn't much time to do it.... Require to act fast... (2/21)
World Bank debarment "Improper benefits to Bank Staff and Lack of Documentation and Invoices" (2/21)
Companies are going one step back and even iGate is not in race... They are concerned about the valuation... (2/20)
CEO asks for personal sacrifices... Everyone in the every company would or require to do personal sacrifices then only the Company or Individual would grow.... Anyway NRN has commented otherway round "Don't love your company and love your work".... (2/20)
Govt. wouldn't bail out any Fraud hit companies... (2/19)
Great move of Cutting costs wherever possible.... But require to act fast.... (2/19)
Would CBI would be capable of doing the investigation?? It is very difficult to Investigate at least like this case (Standalone)... (2/18)
It takes ONLY Six Months to reinstate accounts!!!! --> KPMG (2/18)
Would the company pay Feb Salary? Board has understood the reality now and it is also said that over 25% of associates were on bench for 2008 Calendar Year... It would account for more than 150Cr alone fr0m the Salary perspective... (2/18)
My Impact (Feb 16th Statement): Parek's says "Buyer would emerge by the month end... (2/18) ::))
Sources says few onsite associates been called back... Calling associates wouldn't be enough or no use, Higher & Mid level Management with no work still at Onsite... (2/18)
Telstra, Cigna, Qantas & Coca-cola has given clean chit to the company again.... (2/18)
Brand Name has to change as early as possible to get rid of old things.... (2/17)
Still management is the same except Board... When this would change?? (2/17)
Good Move: Trimming Senior Management... (2/17)
Now act soon guys!!!! No time.... One of the VP resigned today... (2/16)
CEO says "No timeline can be committed at this stage" --> Why this delay and what's the use of delaying things at this stage?? You may find losing customers, depletion of staff and liabilities (2/16)
There's a great battle going on between Modi (Spice) and Naik (L&T) (2/15)
Merryill Lynch would shift the vendor soon... (2/15)
Whatever the case is Cisco want to Partner Saytam.... (2/14)
Ranked 8th Best Training Institute in the WORLD for learning programs for internal Associates... (2/12)
Raju has pledged all his shares to Banks.... Where is the money??? Why so much required??? (2/12)
Lot of things would be discussed on Thursday's Board Meet... Major discussion would be "Can we sell SATYAM in Parts"... (2/11)
Rivals are playing their part very well.... Understand IBM has already approached bigger clients and specified them... (2/11)
Some more Prestigious Clients are going out... Bleeding is not stopping yet.... (2/11)
What has Govt done, Now what is the status???
"Giving away cheap land is not promoting industrialization; creating a corruption-free environment and simplified procedures is."
iGate not interested to bid or buy.... (2/10)
It is said that Satyam has borrowed $100M to meet short term capital.... (2/9)
Hari T the spokesman told "Satyam is battling for survival".... This shouldn't been commented... (2/9)
How did Hyderbadi's grew?
As recently as the late 1940s the region was feudal and largely poor, with little industry and virtually no middle class, though many farmers had extensive land holdings. When Hyderabad became the capital of Andhra Pradesh state in 1956, the rich farmers got into the construction business. Major infrastructure projects were launched and local companies with little experience—but strong political ties—emerged to win government contracts.
Neighboring Bangalore, in contrast, was a military station during the British Raj, so it was apolitical, well run, and orderly, known for its pleasant climate and lush gardens. In 1947 newly independent India made it a center of scientific and industrial research and built major universities there.
Now seems that time has come to tell Good Bye to Non-billable associates... (2/9)
Confirmed Report: Assurant and Visa are out of Satyam's Client List, Contract was worth $20M... (2/8)
Independent Directors were in involved in the Scam.... (2/8)
4 companies in the list who wants (Spice, L&T, Hinduja & M&M)... (2/7)
New CEO, Old CEO, Old Chairman all are same??? SEBI has pointed out of doing INSIDE TRADING with BRAND NEW CEO.... (2/7)
Why Insider was selected as CEO?
i) To specify clients
ii) Employees wouldn't have supported
iii) Insider would understand and work immediately
iv) Frequency has to be matched. Many times it was working as Govt Organization
v) Important: Eventually Company would be sold and new management would decide the Chairman and CEO, Time being some one has to own and support
First case filed against Auditors.... (2/6)
Board may name CEO on Friday!!!! -(2/5)
Now WHO is complaining about the Technicality of its project which was outsourced... (2/5)
Nationalized Banks would book huge losses this quarter as exposure seems as much as 100 Billion --2/4
Real Love is when your Gal Friend accepts you after knowing that you are still with Satyam..... (This concept from one of my close colleague) --(2/3)
NAB (6th largest client for Satyam and one of the most prestigious client) may suspend all services from the company... (2/3)
Company has Assets, Business, Clients but it is really profitable as of now?? It is profitable as L&T and Tech Mahindra likes to do an open offer to buy it out completely --- (2/2)
Top Client (Bombardier) requires a assurance from someone either Govt. or Management (New) that operations would be carried out smoothly... (2/2)
You know why Companies are interested to buy Satyam... (Now it is the turn of Hinduja - One more HEAVY WEIGHT industrialist)
It is understood that 'SEBI has the rules in of Law that The buyout of any company would be 2 Weeks Average Price in this case it would be the Rock Bottom Price or the THROW AWAY PRICE' --(2/1)
In January total signed & renewed contracts goes up to 15....
How Clients would stay back???
To assure Oversight Clients, Govt. had decided give few projects to Satyam includes Indian Railways, BSNL, Vizag Steel Plant.... However GE (Biggest Entity) and Bird's Eye confirmed they would continue with Satyam.... (1/30)
4 more clients (12+) has pulled off..... (1/30)
It is Understood that few clients wanted to exist "Coca-Cola, Telstra, Nestlé, British Petroleum and Cigna".... Telstra has not invited Satyam for new contract plans...
BK Modi is ready to buy SATYAM with existing liabilities.... BK Modi sold Spice Telecom - Karnataka to IDEA and now ready for SATYAM.... I see it is good bet for both... As everyone knows BK Modi is well known industrialist and he is having innovative thinking.... (1/29)
Former Tata Chemicals Ltd managing director Homi Khusrokhan has emerged as the front-runner to become the next chief executive officer.... (1/29)
Ohhh now!!! IT Partner Bill of Rights which says right to breath and right to tell yes --> Basically anything client requires (1/29)
CEO/CFO would be named on Friday India time... Already so many guesses out there.... But they are trying someone from Outside rather picking someone inside --> Sources (1/28)
Why shares going up and up and up??? Brokers are rallying the stock for the assets and buyers are buying it... what is the extent?? It would be around 70-80Rs.... --1/28
What would happen to the Bond Money (2L) which Employees have paid while joining as ELTP's?? --1/27
Why did Caterpillar pulled off??? ---> More than the Scam, Caterpillar has built its own resources in India for its IT Operation ---1/27
Applied Materials has already started moving projects to TCS..... 1/26 (Times of India)
Mr. Raju still gets STAR Treatment.... 1/26
8th Client has pulled off!!!! I believe many more to come.....
People/Organization who are interested with Satyam are only interested with Assets and Clients and not the mess.... who would buy the Mess that we are talking about???? - 1/25
Why did Raju Confess (Rather why did he resign) --> There was misunderstanding with the board about some serious Fraud matters...
Satyam inside-out story being sold for Rs.499!!! Ohh no it is 499$
CIGNA
A buyer will have to take the responsibility for the company, and I don't think any one will take a shot in the dark before the accounts are restated and the legal issues are resolved
"Satyam, Sharam, Scandalam."
It is said that SAP revenue is going down due to Satyam....
Australian Clients have come back straight for SAP
Come on come on!!!! HCL should buy Satyam.......
i) Is Satyam really 53k employees!!! It is understood from sources that this numbers were also manipulated at large extent to match with the Business
ii) Why Institutional Investors sold off?? Understand that they wanted to have more liquidity and wanted to invest on some other profit making portfolios... They have sold approx. 7% (26Lacs share)
iii) Nestle and Telstra are looking for alternate vendor... Both have not directly declined but they are looking for alternate vendor
iv) No bailout and Banks are unwilling to lend money to the company
All the posts are straight from me!!!
1/19
The popular nursery rhyme, 'Johny, Johny, Yes Papa' has made way for "Raju Raju, Yes Baba, Cheating us, No Baba, Telling Lies, No Baba, Open your accounts, Ha Ha Ha".
Additional Updates:
Firms lick their lips for Satyam specialists --1/20
Satyam Employee ends life
NEW Board Member's Profile
-----(All from me & Information is approriate as per my undertstanding...) Nowhere I am trying to pull anyone down...
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