The difference between a star and a scamster is… a YouTube video.
While B. Ramalinga Raju was secretly undertaking creative writing classes at Satyam, the world’s best known surname that is a brandname was sharing this must-watch video with his senior executives.
“The top-10 in-demand jobs in 2010 did not exist in 2004. We are currently preparing students for jobs that don’t yet exist, using technologies that haven’t been invented, in order to solve problems we don’t even know are problems yet.”
Link: courtesy C.K. SWAMY
churumuri 
Oh boy, nothing seems to give this blogger more glee than someone’s culpability. The tail wagging refuses to die, several days after this story came out.
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@Rooney,
Is it not a good thing that people want to keep this scam alive than make a passing mention and get back with their lives ? Especially given how this SOB in question has behaved, why the suggestion for a reprieve or respite ?
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Best known surname that’s also a brand name? Are you talking about Dell?
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World’s best known surname at this moment is “Raju”.
TSA may start screening all Rajus at airports to check if there are unpaid taxes at local counties against them to put them away in jail to make society free from scamster rajus. Shame on you byrraju.
Shame on you Golden Pee Cock ( What a name for an award which Raju sucked ) Award.
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I have credible proof involving HCL technologies and Wharton school. Shiv Nadar had made a false claim that HCL technologies was developing a technique to inject insulin to spine and after careful investigation by US journalists, HCL dropped that claim.
We have HCL corporate vice president Saurabh Adhikari’s apology letter as a proof. If churumui is interested I can send it.
All the suckers in India based IT companies are cheats. Some do immigration fraud, some tax fraud, some steal IPs, some do PF fraud, some do billing fraud. Most do all of them.
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It is incredible that with reputed auditors, banks and statutory regulations in the picture a scam of this size could be kept under wraps for so long. Unless when you consider the possibility of powerful politicians being involved with the directors to siphon away money and use their power to keep everyone quiet. Who knows which party’s election budget was funded by Satyam?
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The Youtube video is impressive gobbledygook. All unverified information. What is the source of all these impressive statistics, especially the one that 67 babies were born in the USA during the time it took to watch the video? Probably statistics and lies!
Learning at schools and colleges do not become outdated before the completion of the course. Basics of mechanical or electrical engineering have remained the same for over 100 years, except that better devices and machinery have come into existence. The newtonian mechanics or applied thermodynamics do not become outdated for a mechanical engineer, at any time during his engineering career. so also for electrical engineering: Ohms, farads, amps and volts remain same as they have remained in the past century and more. None can learn the state of the art without learning the basics.
This video is typical of present day information dissemination technique: bombarding the receiver with so much verbiage that he loses his ability to discriminate information and gobbledygook!
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Terrific comment:
http://www.sepiamutiny.com/sepia/archives/005585.html#comment227141
Cut and paste here:
Some thoughts:
1.Satyam’s clan-like management – This is not strange at all in Indian industry, especially in Indian IT industry.In fact, Satyam is actually much better than a firm like TCS (almost all senior mgmt is Tam-Bram and related to each other, with the exception of one Parsi EVP, who doesn’t seem to have any real power).Infy’s situation is almost similar to that of Satyam.
2.Irregularities in governance – what can you expect of the IT industry in India when half the CVs are fake/doctored, over 95% projects fail to deliver on time and with the required quality, billing ‘mistakes’ abound, and the focus is exclusively on offshore leverage (from both clients and vendors)? And yet, the IT biggies in India get Good Governance Awards, and Chief Mentors of some companies lecture other industries on Governance?
3. The huge land bank built up by Infy, Satyam and Wipro is currently unused, and will be brought into commercial market in future, by bribing Govt officials and politicians.These thousands of acres have been obtained at throwaway prices by the IT companies.Whose land? Who is asking any of these questions?
4.Tax holiday for Indian IT majors – you may not believe it but since inception, the Infys, Wipros and Satyams of India are enjoying a tax holiday, unprecedented for any industry.I can understand a tax holiday during the initial years, but not now, when the top 4 cumulatively generate around $12 billion USD revenues; in contrast, a small business IT provider focused on domestic Indian industry gets taxed like hell.How can the Narayana Murthys of this world occupy a holier-than-thou position?
5.Take the case of a simple labor law requirement in India; as per law, any establishment that employs more than 20 women, should arrange for day care/creche facilities at/near its premises.How many Indian IT firms do this at all their campuses?How many even have humane employment practices that consider the special needs of employees?
But I still don’t think that what has happened in Satyam is an indicator of the rot in India; it indicates the rot that was always there, and will always be there in big business.I mean, why only talk of Enron? What about GE?
I am afraid that the Left in India will talk up this scandal and press for more Govt control, arguing that lack of such control has led to Satyam and other companies following the lead of big, bad, american firms.I hate myself for saying this, but I think this is the one time they may be right.
Satyam can still probably be turned around, because most of the current global big businesses have all faced such scandals, and succeeded in re-creating trust in their brands.
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There is a kannada proverb, rather pessimistic one: Anyaya madidonu anna tinda, satya helidonu satta, “One who committed injustice ate food, one who uttered truth died! Nation’s moto may be Satyameva jayate, but the way the government and the bureaucracy functions (sometimes courts), very often crooks triumph over honest and gullible ones. Forces of wickedness always seem far stronger than the forces of goodness.
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@bomma,
Thanks for the excellent link from sepiamutiny.
I felt like puking when I read about PwC India’s press note that it can not disclose more because it is bound by confidentiality.
Let me explain what is wrong with this statement.
Public firm as auditors learn in their first lesson is a going concern. It is not Raju and family which PwC was auditing, but a public firm.
Auditors in public firm are appointed by board of directors and not by Raju bastards. These appointments are voted by shareholders and PwC enjoys the power over the board because of this vote. It is shareholders who ask the audit company to certify the account and not Rajus. If an audit firm at the center does not know this distinction, no wonder auditors at Hyderabad were shagging all over Satyam’s campus.
It is time to short all the stocks where PwC does audit.
I am appalled by PwC statement on confidentiality. No wonder too much inbreeding in Waste Bengal has decapitated the firm and now Raju can hand over the golden Pee Cock to PwC to suck on!!
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I was just curious on Golden Pee Cock , Raju was sucking!!!
Lo and behold that is another scam award..
You can smell the website and you puke.
You know who is the other winners of award for year 2008
Lo and Behold..— Vedanta Resources.. For those who do not know.. Do you remember a balding man who conned people in India in the guise of Sterlite in late nineties. . This crook is behind Vedanta!!!
Short it now!!!
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Golden Pee Cock has choicest gang bangers sucking from it.!!!
Another award winner is Jubilant Organosys.
14 crore equity capital but suddenly they have started holding 550 crore in cash !!!
The stock has fallen from 350 to 150 and now analysts are advising to buy!!.
Modus operandi seems to be same!!
Get out now
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Narayana,
I think you should post it here. Since it is a public company, investors should know as much about the management before investing.
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