Howcome Satyam is not trading? Yahoo has a $.89 pre-market quote and Bloomberg says "Opening delayed for news" or some shit.
Do you guys think they will go under? I think Indian Govt will prop them up, a multi-billion dollar company isn't exactly a drop in the bucket on the streets of Bangalore.
If its an outsourcing shop, shouldn't a competitor be more than happy to come in and snap up the costly infrastructure, existing trained human capital, and client relationships?
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The CEO cooked the books. Biggest corporate fraud in India. http://timesofindia.indiatimes.com/specialcoverage/3950047.cms
[quote=CD]The CEO cooked the books. Biggest corporate fraud in India. http://timesofindia.indiatimes.com/specialcoverage/3950047.cms[/quote]
Thanks for the late breaking news, I did not hear about this before 1/8/09 1:45 PM on WSO.
I suppose now I'll have to get tech support from native English speakers.
That simply will never do.
Funny.
Not.
It's supposed to be India's Enron.
The company is actually based in Hyderabad not in Bangalore. But yes, this will be devastating for Hyderabad.
Could this take down PwC like it did Arthur Andersen?
You must be joking.
I understand this is in India, but PwC is currently under investigation. Were it found that they helped cook the books, they're in trouble.
Well I guess this is one way to handle a scandal...
http://www.reuters.com/article/marketsNews/idINBOM21651420090111?rpc=44So what do you do? -I work for an investment banking firm. Oh okay; you are like my brother, he works for Edward Jones. -No, a college degree is required in my profession
Fuck. You guys are completely fuckin useless. I figured someone on here would know something or another.
I didn't even know when it started trading again. It fell to like 80-something cents and snapped back up to twice that the same day.
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