Big Indian outsourcer admits big problems

Indian outsourcer Satyam has confirmed the departure of two directors and an early board meeting to discuss its future after a disastrous few weeks. Satyam, India's fourth largest outsourcer, said Professor Krishna G Palepu, a non-executive director and Mr. Vinod K Dham, a non-executive and independent director, have both left …

[Henry]

The Dark Side Of Globalization

Maybe I'm a Pollyanna but bribery, baksheesh and whatnot are all part of the Global Corporate rules. Siemens was recently hit with a 1.2 billion dollar fine when one of their bagmen came clean about slush funds used to secure contracts

http://www.pbs.org/frontlineworld/blog/2008/12/siemens_bribery.html

The problem with corporations is that fiduciary responsibility to shareholders is not the same as ethical business practices. Worse, it's allowed inside the corporation and used as a basis of determining fitness in the corporate culture. The one that didn't get caught gets the promotion.

Ethically run businesses have no reason to do business with nations whose cultural norms allow them to ignore integrity for the sake of profits. Clean up your own backyard before you go polluting someone else's.

Hasn't the world had enough of the slime that got us deeper into this credit mess then if it was just a problem of lending money to people who couldn't afford it?

Congratulations to the World Bank for showing integrity.

[Anonymous Coward]

NPfIT exposure?

Is Satyam one of the outsources of software for the alleged revolutionary NHS IT advances?

[Anonymous Coward]

@Henry

Thanks for that article was good reading here on a slow ass day at the office.

Though I will say I didnt expect them to be in bed with dear ol' Saddam. Guess I shouldnt be shocked though seeing as it is business.......

/mines the one stuffed with cash in the pocket