DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - India

**HRCPda7R** · 07-02-2009, 06:07 AM

Satyam's "real" margin is 3%... so much for that "cost savings" they were supposedly offering their clients.

And now those 150 some odd Fortune 500 clients are going to suffer a disruption in services, possibly within days, if not weeks.

WiPro has been stating the same kind of margins (above 15%)... so one has to wonder which Indian companies are really stating the truth about their accounts and whose books are made up completely full of lies.

Oh and forget suing Satyam... I'm sure Indian recovery laws are pretty-much nonexistent so Satyam's foreign shareholders will not only recover diddly-squat... but they'll have little recourse in India's legal system. Once the shareholder's plight is fully known as the damage unfolds, it actually could hurt India's economy [this might also be a benefit to the Indian people... the government might make sweeping reforms not b/c of Indians, but because foreigners get spooked and flee the country].

So much for PriceWaterhouseCoopers auditing Satyam's books.

Enjoying a dollop of schadenfreude, EC?! :P

Do you think a lot of that business will make its way back to the U.S.?

I can't say much about Satyam people but I have known a few people who work/worked for Infosys, and they're all pretty sharp and know what they're doing.

Satyam wouldn't have had one-third of Fortune 500 clients by hiring "dumb" people.

Seems like you're on one of your hyperbole feasts...

07-02-2009, 06:07 AM	#6
HRCPda7R Join Date Oct 2005 Posts 315 Senior Member	Satyam's "real" margin is 3%... so much for that "cost savings" they were supposedly offering their clients. And now those 150 some odd Fortune 500 clients are going to suffer a disruption in services, possibly within days, if not weeks. WiPro has been stating the same kind of margins (above 15%)... so one has to wonder which Indian companies are really stating the truth about their accounts and whose books are made up completely full of lies. Oh and forget suing Satyam... I'm sure Indian recovery laws are pretty-much nonexistent so Satyam's foreign shareholders will not only recover diddly-squat... but they'll have little recourse in India's legal system. Once the shareholder's plight is fully known as the damage unfolds, it actually could hurt India's economy [this might also be a benefit to the Indian people... the government might make sweeping reforms not b/c of Indians, but because foreigners get spooked and flee the country]. So much for PriceWaterhouseCoopers auditing Satyam's books. Enjoying a dollop of schadenfreude, EC?! :P Do you think a lot of that business will make its way back to the U.S.? I can't say much about Satyam people but I have known a few people who work/worked for Infosys, and they're all pretty sharp and know what they're doing. Satyam wouldn't have had one-third of Fortune 500 clients by hiring "dumb" people. Seems like you're on one of your hyperbole feasts...
	Quote