Thursday, January 08, 2009

India's ENRON

Its a sad day for us. In the last post I was exulting that the next apple or google is being cooked up somewhere in India.

And yesterday I was shocked to hear about Satyam with its hand muddied with a Rs.8000 crore fraud. We have managed to create an ENRON. I hope other Indian Companies do not get in the rat race to give bigger better balance sheets compared to the previous year - in order to have better share market results. Focussing on near short term and missing out on the long term benefits - of happy customers, happier employees and a rock solid business.

Thank you Mr.Raju - you have in one stroke made us cheaters. Don't know how long it will take to  clean up the tarnished image in the world's eyes.

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