It just keeps getting worse and worse for Satyam. Right on the heels of the outed ineptness and corruption in the management comes another news that the World bank barred them from doing business. Apparently Satyam bribed some of the people there to get some projects.
This is bad too, the business practice and hope the officials on the bank side of things were sacked too. The bigger news here is that Satyam installed some spy software to track the World bank servers apparently. I have no idea why they did this or why anyone would do this, but its just an awful awful thing to do. Either the technical people there do not understand anything about security and the implications of doing crap like this. Just because they have people to write code does not make it a good idea.
Also, for any one still a little unconvinced about the corrupt intentions of the board - Maytas is Satyam spelled backwards! Also apparently Ramalinga Raju resiged, which is a good thing. For the sake of the employees who deserve better, the entire board should be replaced. Satyam is now a very attractive take over target. It has a good core business and a billion dollars in cash. So very soon they will be working for some other company.
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