Satyam Computers was too ambitious?
January 9, 2009 12:07am CST
I was shocked by the news on the front pages of every newspaper. The CEO Raju didnt take a paise profit out of the frauds he did, but he was too ambitious wanting to rise Satyam to the top position of IT in India. Already the #4 IT company in the world, the $1 billion fraud shook the confidence of its Investors. The stocks that was Rs150 fell down to Rs 38 in less than 1 day! Not just were the investors disappointed, more than 4500 of its employees were given the pink slip. If former CEO Raju was truly thinking of the future of Satyam Computers, would he have gone so far?
9 Jan 09
Im afraid they wont be anywhere near the top 100. I heard IBM is trying to take over, but still, with the huge debt it owes, a comeback cant be expected anytime soon. Its sad story of how sacrificing everything for success can take you to its downfall. Thanks for your reply.