Satyam Chief Quits, Fraud Scandal Slams Shares
Published at: www.eweek.com
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A time for caution, not overreaction
January 9, 2009
The news coming out of Satyam is serious indeed and has broad implications. However, the article gets a bit sensationalist by implying that accounting irregularities may be occuring at other companies in the industry.
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Paul MassieSenior Director Operations & ITYouSendIt Inc
Disaster for Indian Outsourcing Companies!
January 8, 2009
Satyam’s Enron-like revelation is probably the single worst thing that could have happened to the entire Indian outsourcing market. Satyam itself has no viable future. This latest bombshell has sealed their fate. Existing clients will focus on escaping contracts as quickly as possible and it’s highly improbable any new clients will sign up. The revelation of fraud on this scale raises questions about the state of corporate governance in all Indian outsourcing companies.
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