The incredible vanishing Satyam boss

Satyam's founder and chairman B Ramalinga Raju has disappeared, a day after he admitted to years of false accounting at the outsourcing giant. Raju's lawyer insisted his client remained in Hyderabad despite conflicting reports that he had fled to Dubai or Texas. He has not been seen in public since yesterday's extraordinary …

[Anonymous Coward]

Much lulz

Can't say i expected him to stick around to face the music.

The Satyam boys who take care of a lot of our systems aren't picking up support tickets, nor answering mail, we don't think they are in the office. If they are, they ain't working, and indeed why should they if they aren't even gonna get paid.

Our IT bosses are in a panic, stating that the support contract is "under urgent review".

PR management speak for "FUUUUUUUUUUUUUUUUUUUUUUUUUUUCK!"

/Paris, cos even she'd notice the dodgy maths in Satyams books

[Hollerith]

Who's that familiar face...

on the Impanema?

[uk086242]

You could not make this up...

Could you?

Buy cheap, buy twice.

Buy cheaper, you get what you f**king deserve.

[Anonymous Coward]

fixed it for you :-)

for "The firm insisted it had carried out all work correctly and received sufficient supporting evidence."

read "The firm insisted it had covered it's arse."

[Anonymous Coward]

accountability

I think the ongoing trend of shamelessly avoiding accountability at all cost, both in politics and in business is finally coming home to roost.

[Joe M]

"The company has about 53,000 staff ..."

I am no friend of outsourcing which has devastated the careers of many of my colleagues. In the brainless rush to make short term gains on the bottom line, an obsession which characterises most modern business “leaders”, outsourcing deals have left numerous IT, PR and security disasters in their path. The true cost of this is a tale yet to be told.

But I cannot help thinking about the tens of thousands of Indian workers whose jobs are now in real jeopardy. In these turbulent times they may have serious difficulties finding jobs and securing their futures. I take no pleasure in seeing them in this position and I hope that the damage done by the few corrupt and greedy men in India, and around the world, which put them in this position can be quickly rectified.

[Anonymous Coward]

I am sure there is no CEO out there worried

After all they would have done proper risk assessments of their outsourcing and made contingency plans against the likes of Satyam going to the wall wouldn't they

or perhaps they were just looking at share prices and stock options thinking it would be a SEP (someone else's problem)

or were they really that stupid not to think it might happen?

[Fozzy]

Amazing

Are the upper mangement types so incapable of speaking a word of truth. really his letter should have read along the lines of \

Yeah things are coming to a head here in Satyam and it wont take long for everyone to realise that i have been embezzling hundreds of millions of dollars to satisfy my own personal greed. To compensate I have been on a crusade to falsify all publicly available financial statements so you wouldn't find out.

There has been some fancy dancing by me and the CFO, when bribery wouldn't work, when PWC came through the door to verify that book of fiction we like to call our financial records. I earnt my pay check those days , let me tell you

In the coming days shareholder confidence is going to sink faster than the titanic The new upper management team will be taking the employees, customers and shareholders on a spin doctor ride of G force proportions attempting to save the company, though unlikely The spice girls reunion tour had more chance of success than the company does now.

Although you will be facing hard times looking for employment in these harsh economic times, or you will be counting your losses from investing in my company, or you are one of our unfortunate customers looking for a way to piece together the shattered remains of that outsourcing project (pity you if you were the driving force behind that decision) or you are hoping they simply don’t turn the power switch off on all your mission critical servers I feel I must point out a silver lining to this horrible situation.

I got away with it. Yep as you are reading this I have already skipped the country to a nice little corner of the world withal of my ill-gotten gains. I think you would enjoy it if you weren’t so busy running around trying to pick up the pieces of the economic disaster I created.

A wise man once said, Greed is good, Greed works” Well, it does. For me at least

[Neoc]

I think I know where he might be...

Doesn't he have family in the construction business?

And we all know how useful a construction site is if you piss off the family. ^_^

Mine's the cement overcoat.

[Anonymous Coward]

Satyam Oops?

I have been off for a few days, will have to find out what's happening when I get into work this afternoon. We call Satyam so I wonder if we have been able to get through this week.

Paris. Well why not, she may be blond but I'm sure she would see that coming:-)

[TMS9900]

What??

"But I reiterate I do not know what has happened"

What a big hairy load of bollocks.

So, he's saying the entire finacial fabrication, to the tune of billions, was covered up by one SINGLE individual, without the knowledge or assistance of ANYONE else?

Utter bollocks.

[Mark]

If Osama can do it.......

Well Osama has managed to avoid the US of A for a long time despite being the most wanted so called "terrorist" they have.....

With this in mind it should be easy for a crooked Indian billionaire to dissapear and not be found!

His is the invisibility coat on the corner.....