There will definitely be an impact of this but will be short lived. The impact on outsourcing will not be because of the Satyam issue but because of recession and pressure from some lobbies not to outsource. I had been associated with "Medical Transcription" which is a part of ITES and is extremely sensitive and requires the highest level of accuracy as it deals with medical records of people. There have been numerous occasions when companies in US have leaked records of celebrities to the press. Most of this work is now outsourced to India and there has not been one instance of leakage. The problem is that whenever a leakage of something like this happens in India it is blown out of proportion by the press. It is actually done by people who are against outsourcing.
Yes, Satyam was a fraud, orchestrated by its CEO. But this certainly will not put a question mark on other bigwigs like Wipro, Infosys etc. There will be a talk about this for a while ....... the company might get sold ......... but people will forget about this after sometime. Enron was a big issue ..... but no one talks about it now and it certainly did not put a question mark on other American companies. I think we have seen some exponential and unreal growth in the IT sector in the last 5-8 years and some fallout was bound to happen. Things will be fine and Indian companies will bounce back. Cheers, Jatinder kalsi amar <[email protected]> Sent by: [email protected] 01/13/2009 03:02 AM Please respond to [email protected] To [email protected] cc Subject exghps1988v_v Re: Raju's letter- Satyam Folks, According to experts from Wharton and elsewhere, the Satyam debacle will have an enormous impact on India's business scene over the coming months. The possible disappearance of a top IT services and outsourcing giant will reshape India's IT landscape. Satyam could possibly be sold -- in fact, it had engaged Merrill Lynch to explore "strategic options," but the investment bank has withdrawn following the disclosure about the fraud. It is widely believed that rivals such as HCL, Wipro and TCS could cherry pick the best clients and employees, effectively hollowing out Satyam. Another possible impact could be on the trend of outsourcing to India, since India's IT firms handle sensitive financial information for some of the world's largest enterprises. The most significant questions, however, will be asked about corporate governance in India, and whether other companies could follow Satyam's Raju in revealing skeletons in their own closets. --- On Sun, 1/11/09, Bindu Tewari <[email protected]> wrote: From: Bindu Tewari <[email protected]> Subject: exghps1988v_v Re: Raju's letter- Satyam To: [email protected] Date: Sunday, January 11, 2009, 11:44 PM Hi Nirmohan, All I can say I that it is a blow on the corporate governance. Integrity cannot be bought.Either one has Integrity or one does not have Integrity (it cannot be 99.999%) Hence if money is the sole driver,then values are not required. To err is human,but to err knowingly is deceit...and that is what has been done by Satyam's Corporate team. The question we may ask is that : IS IT OK to be corrupt to succeed ?? Have a good Day Bindu On Sat, Jan 10, 2009 at 10:33 AM, nirmohan singh <[email protected]> wrote: well .. its the government and the way the scam was handled has cause much more loss then Raju.... they actually killed the company ...raju scam( even if 100%true ) was 7000 cr but the compnay was functioning.. 62000 employees, 185 of fortune 500 companies as customers... this is not at all a scam.. It is very much real. The per year revenues are much more them Mr.raju scam.. they should not have over hyyped it so much ..so as to virtually kill the business empire causing 30,000 cr loss of share holders and put the entire india's image at stake.... Bindu what say you in this matter... Date: Thu, 8 Jan 2009 15:07:09 +0530 From: [email protected] Subject: exghps1988v_v Raju's letter- Satyam Hi Folks, Copy of Raju's letter in Satyam debacle....another perspective Regards Bindu --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "EX,GHPS,1988,V.V" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/exghps1988v_v?hl=en -~----------~----~----~----~------~----~------~--~---
