The facts remain the same that there has been such a scam undertook over a period not in a day but reactions should be monitored too.
One of my friend send me a mail today that I would like to share with you guys... have a look and think over all again...
Dear all of my Satyamites,
Yesterday will be a memorable day to us throughout our life. Little bit of business & human nature knowledge is forcing me to write few of my thoughts (Please ignore them if they doesn’t make any sense).
Ask yourself who is worst affected by all this mayhem. Is it u & me (employees), Govt or Satyam & Ramalingaraju ?. My conviction says that employees of any MNC are associated to that company as long as they don’t have any better option, the best thing government can do for a company is to keep itself away from it. But there was a visionary who created wealth for a nation for 20 years, the only thing that cannot be separated from Satyam for these 20 years & ahead also if Satyam remains was\is a name called “Ramalinga Raju”. Fortunately I got some 15 min of time talking to him when i was an ELTP. He’s much softer then we see him.
Imagine what would be going on in his mind when he was writing yesterday’s letter accepting all the things which he did only to save his company. All have made him scapegoat for what has happened & left the company keeping their integrity intact. He was cursed badly for putting the money of a public limited company into his family driven company but it only now clear that how he was transferrring the risk from 50,000 people to his two sons & his known-integrity.
The worst which can happen to we the employees is that we are out of our current job, jobless for time being & then again getting a job which we deserve & our families will be worried for us(as they are always). But a relatively bitter truth will be for the Raju-family who will be annoyed for ages & will be treated as miscreants by those who do not know the truth or more about Greedy investors & money market. And the truth is that he has not stolen some thousand crores rupees into his own pocket, it was a bubble he created which busted. (And every other company on earth does so, being wary of not getting trapped)
One more thing which annoys me is does a philanthropist guy deserve this disgraceful exit ? I really feel sad about the way he’s been portrait in the media. Our rustic fellows have already started comparing him with Harshad Mehta. Tell me any incident in corporate India where any chairman has dared to confess such irregularities in his own firm. And believe me it takes hell lot of guts to accept all this publicly. And as I read the news today morning it was published there that even his community members have suggested him not to tell anything and later on he can play with the Indian laws as every politician does in India. But as he mentioned it was all deep regret in his conscience which lead him to confess all this.
I am not at all saying that he’s totally innocent and unaware of what’s been going there but a person who has started a journey called Satyam 20 yrs ago with few associates and made it 4th largest IT Company in India, done all this for sake of his 50000 Satyam family members. In the end i’ll ask only one question to all of my friends,” for whom he has created this bubble, if it was he who was going bankrupt? ”
The day before all this mayhem started, we all were proud to be called as Satyamites and were wearing the Satyam tag displaying our esteem to others, and now due to a single incidence u are feeling awkward to show the same Satyam tag in public?? I don’t know about others, but still I am proud to be a SATYAMITE!!!
after reading this mail first thought that came to me was that all peoples are not simply rats on the sunking ship running for their life but few are always there to stand strong and face the storm.
2 comments:
These are trying times. However the time for the greatest opportunities to exhibit stellar leadership in challenging times. Crisis Management , Salvaging a Sinking ship and coming out stronger. First , What are the lessons we learn ? How do we prevent a repetition ? How many more skeletons are in the closet waiting to be discovered ? and importantly. How do you protect innocent employees? Give hope to shareholders clutching to a Rs.40 some thing Satyam share hoping for a turn around ? The swifter the action and punishment from the regulators the faster will be the return of shareholder confidence. Else panic will run over . Why penalise an entity and an ecosystem because one rotten egg broke loose. Some parts of Satyam like the enterprise application and consulting practice are in great shape to render services to world best clients. Atleast 25 clients enjoyed world class service for the last 15 years. Big names like Cisco, Caterpillar, Telstra , Nestle , Nissan, UniLever, Barcleys, CIGNA, StateFarm , Applied Material, TRW , BP, J&J, GSK ..all these clients did get value from Satyam in the past. The World needs Indian IT Services providers in these tough markets.
Indeed these are trying times. for the Satyamites, Shareholders and to Mr. Raju's family.. My sincere prayers and good wishes to all..
As per the picture i get out of this episode, Mr. Raju did inflate the revenue and profits of Satyam, which IS a fraud.. but why did he do this. Initially, at a small scale, to get keep the investors 'attracted'.. then due to the tremendous growth that Satyam witnessed, this 'gap' had grown out of proportion.. So many lies to cover one lie..
It really takes a lot of guts to surface oneself and confess ones mistakes. I would really like to appreciate Mr. Raju for this. Better late than never.
Seeing the kind of responses we are getting, it seems that some are really rejoicing downfall of Satyam, which has not happened yet.. Its easy to point finger and blame, especially when one is down.
Guys lets learn lessons from this episode and move on.. May God give Mr. Raju's family, the courage and wisdom to go through these tough times. I wish Satyam be beck on track and its employees and stakeholders again enjoy the fruits of satyam's success again, as they did for the past 20 years or so..
"Without Wax"
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