If a supposedly top-tier company such as Satyam could forge its balance sheet, it is quite possible that several companies (especially, medium and small capitalized) listed on the stock exchanges may be resorting to similar ways for their own gains and fooling investors. It is clear that analysts and brokers, who recommend such stocks with unrealistic targets, do so merely going by overhyped information provided by the promoters, without proper analysis of such companies. Unfortunately, public memory is short and from time to time, companies such as Satyam crop up and dupe investors of their hard-earned money.
—Ketan R. Meher
The Satyam mess is a milestone for the Indian software industry as well as Indian corporate governance. However, the future of the Indian software industry being bright, it is unfair for Satyam’s employees to suffer an undeserved fate.
At this crucial time, a path for Satyam’s survival should include establishing a crisis leadership to comfort employees, customers and shareholders. Retain all valuable employees, for the software services industry is all about people. Seek private equity to take over operations with sufficient legal protection. Rename Satyam to create a new brand. Finally, get a proven CEO-turnaround artist from the services industry. Ideally, this person should have global experience and, perhaps, seeks this one last success as a feather in his cap before he retires. This person needs to be given incentives for a five-year period based on results.
— Sridhar Bhat
The civil war in Sri Lanka is reaching the endgame stage. The Liberation Tigers of Tamil Eelam (LTTE) will be routed soon and the world can expect violence to end and peace to prevail there.
It is time now for leaders of that country to sit down and think about their future. LTTE leaders such as Velupillai Prabhakaran and others, if caught alive, should go through a fair process of criminal justice in Sri Lanka and, if possible, in India as well for all their heinous criminal acts.
Innocent Tamils and others who have had to endure untold sufferings for decades have to be looked after with care and compassion. This is where the majority Sinhalese community should come forward and treat the Tamil community with magnanimity.
After 26 years of incarceration, Nelson Mandela, when he finally came to power, went for complete reconciliation with the white minority which had all along oppressed the black Africans. He never showed anger or bitterness towards those who upheld the apartheid laws. Holding out an olive branch to the white minority, he persuaded his black African followers to forgive and forget. He was able to look ahead in all his efforts in building his nation.
Sri Lanka and its leaders are in a similar position today. Will they have the foresight and magnanimity to look forward and make peace with the Tamil community? This will enable that country to move ahead with peace and stability.
The commentary by William Pesek “Trust me, I have $1 billion stashed in the bank”, (Mint, 13 January), on fraud economics was engrossing. Pesek seems to have asked the right questions. However, one fundamental question for Pesek: When Enron happened, was there a lasting dent in the US’ dominant position, or credibility for that matter?
If all the necessary and appropriate steps are taken by the authorities to punish the guilty, there’s no reason for anyone to say that this year is a precarious one for India.
— Harmindar Singh