Satyam computers scam

Satyam collapses

The worst has happened to Satyam computers. The fourth largest IT vendor in India was going through a lean period for quite sometime but what happened today was unexpected. B. Ramalinga Raju, the founder and chairman of satyam computer has quit his post along with his brother and managing director B Rama Raju. Though the resignation was inevitable following the recent aborted acquisition of Maytas infrastructure owned by Raju’s son, the admission to major financial wrong-doings and saying his last-ditch efforts to fill the “fictitious assets with real ones” through the failed acquisition has not gone down well with India Inc.
The world economy is going through turbulent times and this is really a deadly blow to our corporate structure. After this incident, the investors would think twice before handling over projects to our software companies. The weak job market will receive deadly blows and chaos will reign throughout all sectors. So what next for Satyam?
The company could face regulatory action in the US because it is listed in the New York stock exchange. It could face both civil and criminal action in USA. Already the shares of the company took a severe beating as it slid by nearly 80% in the Bombay stock exchange. The National stock exchange has decided to remove Satyam shares from January 12. The prospect of Meryll lynch taking was also ruled out.
This rude shocker must not and should not spell doom for the thriving IT industry.

SATYAM  SHARES PLUNGE– CLICK HERE

Obama on long-term recession

Obama appoints Nancy Killefer from McKinsey&company as “Cheif performance officer”

Barrack Obama warns the congress government for the long term recession in United States and urges the government on his economic aid package. This is the right time to react and if they fail at this time it could end up in devastating long-run problems. According to Obama Economic Aid Package, it can create about 3 million job opportunities in United States. Economic aid package plan includes tax cut to businesses and middle class workers, to help out which is suffering from serious financial crisis and even giving funds to raise the organization infrastructure. Nancy killefer , a senior director of McKinsey &Company is appointed as “CHIEF PERFORMANCE OFFICER” . McKinsey &Company is a top management business consulting firm throughout the world. She also worked as assistant secretary in Clinton treasury office. She will be the one in charged for reforming the government and restoring fiscal.

Michael Jackson’s Final Concerts

Michael Jackson the king of pop has now announced of his comeback on Thursday, which he calls it as “final curtain call”. He reported to his die hard fans around the world that he would perform ten days stage show having a large arena over 20,000 capacity in London starting on 8th July. The show is about to take place at 02 in Greenwich, southeast London. He has planned to wear military-style black jacket decorated with silver sequins in his favourite own style of costume. Behind a pair of dark glasses, Jackson said “Thank you all…..this is it”. This 10 day concert will mark the 25th anniversary of his great and ever best sold album “Thriller”. He reported that this would be his final stage show in London. Jackson is the biggest pop star of all time and so called as King of Pop Stars by his fans. Jackson released his last album “Invincible” in the year 2001.  However, the pop star is about to give a great comeback after many years which will drag all his fans to the ocean of joy. So , you DANGEROUS guys….just BEAT IT. Hope you guys have a great day ahead!!!

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