A Business Proposition…

From our previous posts you’d remember that we have been (atleast my friend) trying to find our multi-million dollar idea. Its not that we haven’t found any ideas. We have, some. But they are either not the multi-million dollar types or they are extremely improbable. I mean the idea to fund education of students in US is something that would take considerably longer to generate ROI and hence was dismissed. We have also, in past, in all our immaturity, discussed the possibility of getting people to pay for reading my blog. We had to shelve this idea since the single fan that my blog has outrightly refused to pay but rather wanted to see if I could foot the internet bill.

But since we haven’t had any bright ideas, we did what everyone who is waiting for an opportunity does. Daydream. We daydreamed or rather an astrologer told us, this way it sounds more palatable, that some serious money was coming our way and the elusive optimist in me even put a number to the ‘serious money’. The amount was settled at 50 Crores. The currency is not decided and we are open for anything equal or stronger than Indian Rupees.

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Oops, I did it…

What Raju did recently surprise many of  us and some of us were outrightly shocked. One of them was a friend who has been fortunate enough not to have yet entered the corporate world. In our 10-minute conversation she talked about Raju for approximately 8.30 minutes and primarily shooting questions and sounding incredulous…

  • How can SEBI have overlooked?
  • How can the Board of Directors not have noticed?
  • How can they have practically siphoned off the entire assets side of a balance sheet?
  • What the hell were the auditors doing? (I’d be shredding paper…)
  • How can people set up websites to support them?

The letter that Raju wrote to the board of directors at Satyam can be downloaded here (Screenshot appended below)Update: Wipro disclosed that they have been blacklisted by WorldBank for bribing WorldBank Officials. World Bank version of the story and Wipro‘s version of the story.

Once I had passed thru’ this barrage of questions she graduated to Narayanmurthy’s inane comment on not hiring anyone from Satyam. I could not say anything more but agree with her, in her statement that this was the darkest hour for the corporate world and that this is just the tip of the iceberg. Her final words ” There will be more revelations..” sounded pretty ominous and made me wonder as to her corporate connections…

A ditty that I noticed on the web goes like so…

Raju Raju? Yes, papa.
Missing assets? No, papa.
Unnecessarily trying to acquire a real estate company to save your skin?
No, papa.
Okay, show me your balance sheet!
Ha ha ha.

Continue reading “Oops, I did it…”