Firstly I would like to say that this blog is written purely from my own perception of the situation that is running around the SATYAM today.....Please note that I am not here to debate with anyone nor I am writing this to impress someone ........
Request all the readers to be very patient and read through the complete blog........
SATYAM the word itself says TRUTH and today the whole world treat it as ASATHYAM (a lie)... Let’s start looking at the situation step-by-step:
What has happened??
Do not think this question will come to anyone in our country who has at least watched any of the news channels (for at-least half an hour) since last 72 hrs ... Each of these channels are very busy trying to show trenchant(distinct) news to increase their TRP's on this issue.... But let me try to explain more detail point to point (as mentioned above it’s purely my own perceptive)......
1. As you all know our CEO and the IDOL(till 6th January 2009) of many Young Entrepreneur’s have released a note to the SATYAM board members and to press about his resignation with some un-acceptable facts i.e., Profits SATYAM is showing since last few quarters where not true..... On a simple note Mr. Raju is telling the world that they have been fooling everyone since last two yrs ..... Can anyone believe this??
2. Currently they are showing Inflated cash and bank balances of over Rs 5000 crores .... and surprisingly he also stated that September quarter (Q2) the reported operating margin of Rs. 649 crores is not true and the actual profit is 61 Crores.... (as a SATYAM employee since last 30 months i will not accept this....)
This is happening over a period of several years and the marginal gap between the operational and actual profit has grown drastically over the years.......
Hope now everyone understood what the current situation SATYAM is running on...is
What is happening???
1. As per the new SATYAM management the liquefied funds are not encouraging to run the organizations’ day-to-day operations and are still looking for different options..
Request all the readers to be very patient and read through the complete blog........
SATYAM the word itself says TRUTH and today the whole world treat it as ASATHYAM (a lie)... Let’s start looking at the situation step-by-step:
What has happened??
Do not think this question will come to anyone in our country who has at least watched any of the news channels (for at-least half an hour) since last 72 hrs ... Each of these channels are very busy trying to show trenchant(distinct) news to increase their TRP's on this issue.... But let me try to explain more detail point to point (as mentioned above it’s purely my own perceptive)......
1. As you all know our CEO and the IDOL(till 6th January 2009) of many Young Entrepreneur’s have released a note to the SATYAM board members and to press about his resignation with some un-acceptable facts i.e., Profits SATYAM is showing since last few quarters where not true..... On a simple note Mr. Raju is telling the world that they have been fooling everyone since last two yrs ..... Can anyone believe this??
2. Currently they are showing Inflated cash and bank balances of over Rs 5000 crores .... and surprisingly he also stated that September quarter (Q2) the reported operating margin of Rs. 649 crores is not true and the actual profit is 61 Crores.... (as a SATYAM employee since last 30 months i will not accept this....)
This is happening over a period of several years and the marginal gap between the operational and actual profit has grown drastically over the years.......
Hope now everyone understood what the current situation SATYAM is running on...is
What is happening???
1. As per the new SATYAM management the liquefied funds are not encouraging to run the organizations’ day-to-day operations and are still looking for different options..
2. Govt of India has dismissed the currently running and active board members and had taken a decision to replace it with the government recommended members (10) soon...
Well now to say as an employee everyone in SATYAM are tensed on wt is the future of all the associates since it is having an associate count of 53,000 ... which according to anyone is a huge number.......
Myself I am BIG fan of Mr. Raju and he is one of the most admired and respected individual in India since he showed the world the power of Indian economy at a point…. and today he himself had given a beating for it…..... But remember people this is not India neither SATYAM its an individual who committed this mistake not the 53,000 employees who work day-night to build up their career and also improve the company reputation in the GLOBAL market....... I myself had many sleepless nites to meet our project deadlines, to increase customer satisfaction, meet their business requirements, support their mission critical applications........ In the same way each and everyone in my team, account and Company had many similar situations....
We are never bothered about wt operational margins company is showing .... we r only bothered and happy about our coffee breaks, Lunch in the near by restaurants, bday parties with in teams, some entertainment at wrk, be on TOP of the world when some one appreciates with a small email and finally at the end of the year fight for our appraisals......
As an employee with experience of 30 months we only know to manage our applications and always relaxed that our Leadership team taking care of the revenues and marginal profits to meet the competition….... But today we all realized that we are the only one doing the job sincerely not our so called CORPORATE GOVERNENCE team….Everyone resigned the board and do not even have some time to share with the associates wt exactly happened (other than Raju) as they had their own share ........ Remember all those DIRECTORS who resigned - every SATYAMITE is a leader and this is true but unfortunately you are nvr LEADERS nor SATYAMITES because u have never been to the ground reality of work...... I AM A TRUE SATYAMITE and will stand by the company till the last minute until my management says "TEAM IT IS DONE"........
SATYAM might have one founder but world please remember just a FOUNDATION for a construction will not suffice and is always useless… Only the pillars which are very important for any construction and we all are the pillars for this Company......... We built this organization and are never owned by any individual or any family......
I always have a respect to our FOUNDER and CHAIRMAN Mr. Ramalinga Raju for his thoughts in building this business and giving a life or career to more than hundred thousand families but he also proved that no human is an exception from greedy and money power....
Now its not the life of 53,000 SATYAMITES but their families and their responsibilities ............Lets not loose the hope and I request each and evryone in SATYAM to stand by the organization which gave us a career to stand and build dreams out of it...... Not every human will think the same (Thanks to Raghu for remembering this to me) and i agree there are many ppl who r in deep frustration but its jst a request to everyone in SATYAM not to jump out it when it is ship is sinking rather try protecting it with your value ...........
Many might ask a question that what can you do at your level to bring this organization back.... But remember it’s we (each and everyone) who had built this organization and I am 100% sure that each and every one of us have a share in building the revenues and brand for the company....... Imagine one person all of a sudden had resigned to his regular operations and move out to a new company …the application or project he is working on will suffer and at the same time Customer will suffer which implies everyone in the project or team will be blamed resulting a loss of project and possibly the account …If some how this news is in the hands of Media .... They start saying tat all the projects/accounts in the SATYAM are taking a decision to move away and this single statement make a very big impact............
Many can debate on each and everything i say here but I just want to pass on a message on to BE COOL and STAY WITH OUR COMPANY during tough times...... I am sure company will not leave us on AIR saying us to look for our own opportunities......
Ultimately Mr. Raju sir I am thankful to you always for giving us a chance to build our own career but this time what you have done is not correct and I am not sure of the reason behind this and so I do not want to comment on this............but I can only PRAY GOD to give you peace in you rest of the life..... SATYAM will always MISS YOU....
I am sure for many what all I have written might be funny or foolish and think I am being over emotional but wt can we do WE INDIANS ARE EMOTIONAL and I AM PROUD TO BE AN INDIAN.......
Once again sorry if I have hurt anyone's feelings but just want to communicate everyone that
"THIS IS NOT BUSINESS WHICH IS OWNED BY A SINGLE INDIVIDUAL OR FAMILY AND ITS OUR BUSINESS, FUTURE AND CAREER WE ARE PART OF IT LET’S BRING BACK THE SPIRIT OF SATYAM AND SHOW THE WORLD THAT EVERY SATYAMITE IS A LEADER....... "
I am not sure whether the company BRAND name will exist or not but I will always be proud of it..........
Before I close this blog I would also want to tell few people that SATYAM IS NOT A TAINTED COMPANY and what is can only say that it is time to say "NARAYANA" and take some rest ....Please do not try to behave like a politician taking the advantage of TOUGH situations… It’s a matter of 53,000 employees’ career and future…
Finally.....
“Our greatest glory is not in ever falling but in rising every time we fall.”
13 comments:
Dear Hemanth,
i appretiate your blog.
Starting a career with Satyam was once a dream for many aspiring youth and i am happy that i am one of them.
But the siituation is really out of control and even if 53000 associates come together there is nothing that can do about it.
We all are at Stake.
Hope & Pray for the Best.
Love,
Padmini
i can see your emotions in this blog, i am going trhough almost same feelings during past few days, its just not SATYAM problem, it is face of Indian IT which is at stake, now due deligence before client for any Indian IT company is a headache. Believe me if two more incidents happen like this, forget Indian companies dominating IT World in the next couple of decades.
hey too good.. I m jus proud of the way u wrote.. lets stand united .. v shall bring back satyam on the same level.
He is a cheater as he was always.. There are many such instances. There were rumors even 2 yrs back that satyam's money was used for Maytas Operations. Do u know that satyam had the highest attrition rate in India's top 5 IT companies and still it bagged best employer award last year?? Yes thats "buying honors" Propaganda of Raju... He always was a manipulator.. Want 2 have a look at another scam? http://www.allvoices.com/contributed-news/2211600-emergency-ambulance-emri-hit-satyam-scam
The only thing which I never thought was that he himself will kill the brand which was created by him...
He always was a business man... a mere business man... With his money he bought all his aura of a VISIONARY... I can count the instances if anybody asks... , he is still lying in his letter. The crime he has done is much bigger... He sucked Satyam's money and moved everything into real estate business.. Before all the issues started happening, he sold 5% shares of Satyam he had. (He is cunning.. he knew that once these things start happening, he will not get even 1/10 of what he got.). And do u think that a company like satyam works on 3% operation margin?
Finally he ruined the brand almost irrecoverably before he quits.. His confession is another drama... Had he not revealed it, Merryl Lynch would have informed this to SEBI.... So he thought that a confession drama will give him a heroic image, at least among some stupid circles, and he can show case this in court as a proof of his good will....
He is not going to lose anything.. he still got influence in every political party.. he is still the richest in AP..... Who lost?? Only the employees and investors........
Hemanth
What do you mean by "We stand united for Satyam"? How can you stand till the last minute with the liabilities that many of us have? People have dependant families, people have lavish lifestyle (thanks to IT pays), Loans to Pay to banks etc.
The moment Satyam stops salaries it would be very difficult for most of us to stand united. Most of us will try to find jobs outside may be IT or non IT but somehow earn money for paying back loans, for family etc.
Since you are still a bachelor it would be easy for you to say all this because you got a helping hand and an assurance from your parents.
Also - I did not like you calling "Dear Raju Sir" to a person who has done this to around 150000 people (50000 families, 3 in a family on average).
Whoever met Raju personally will also not believe all this but there is definately something fishy going on and Raju if wanted could have stopped everything because afterall he was a director. Satyam operating on 3% margin from last 2 years+ is also a big big joke that no one will believe.
So I agree with you that we should stay united until Satyam pays our salaries. Also - looking at this current scenario it should be our need as well.
Thanks for all you responses on this... Will definetely answer each and everyones response.
@Padmini: Yes I agree we all are at stake because of an individual and their family benefits.... But i do not agree the fact that 53K employees standing together cannot do anything... Well again its just the perception of each individual.... Thanks for the comment
@JNSurya Prakash : No surya sorry for this but I do not think at the current situation the Indian IT is at stake and due deligence before client for any Indian IT is a problem because the worlds knows its a pure case of an Individual who did all this... Also do not forget the same level of frauds and close-outs in the world market.... With that said once again its an individual's perception and I am not arguing on it......Thanks for the comment
@ I Me Myself : Thanks for the comment
@Techie said : All through the blog I was just requesting (remember the word request) everyone to stand by the employees and No where i told he is a GOD... Well attrition rate is higher in all the organizations and any organization always fired the ppl who r jst sitting idle on benches for loooongggg time and which according to me is a right thing.... Well coming to EMI or 108 my mom is in medical industry since last 25 yrs and I am aware (confident on this statement) how many lives of families this small thought hav saved....... Also yes it is a knwn fact to many all over AP that govt is funding 90% of the amount to run this EMI ambulances bt the fact is its the thought SATYAM had brought in (remember not the individual) to the state.... Personally two of my very close acquaintances where benifited by this ambulance.... Not sure if you hav visited anytime the 108 EMI set-up in our SATYAM office... Its jst amazing but again this is all developed and maintained by few of these 53K employees........... Once again totally agree the fact that its we employees and investors who lost everything and that is the reason I am requesting everyone to stand with the org(not the individual) to make all this happen again........
@I think you can guess: Yes i guessed it.... :-)
Well I agree that each and everyone of us have dependencies and liabilities to pay and I may be a bachelor but that doesn't totally mean I am not responsible for anything... Well all these aside I am not forcing anyone to be with SATYAM till the last minute I only asked ppl to stand by the org in this tough times and I said I will stand by not till the last moment.... Its again my own perception over this.....
Well coming to "Dear Raju sir" its again a gesture for a person who had built this empire for making all of us in a position where we can have a lavish life.....As a matter of fact i only told this for giving many of us a career and dream on it.... I do not want everyone to call him the same way or think in the same direction as me......... What is going on and what had happened is not in our HANDS and I also feel it a joke and smart move to say we only have 3% marging since last 2 yrs........
Thanks for the comment.
All Thanks for your time to go through the blog and posting your comments..... As I have been telling again and again.... ITS JUST MY OWN PERCEPTION AND I AM NOT HERE TO DEBATE ON ANY ISSUE....
Well, i agree with Hemanth. May nt b totally, bt i agree with him to most of the extent. It may not be a satyamite to comment on this, is what i believe and so, here is my comments.
You might be wondering, in what way i am linked to Satyam. You are rite, i am no way related with satyam bt wanted to stress on the below point. Mr.Ramalinga Raju have done the scam(which most of the ppl are calling) nt to develop his property or his family property. he tried his best, till the last to bring up the company from the financial crisis. Some steps which he has taken might be wrong but its nt gud to forget the goodness he served to the people. 108 or the contributions from Byraju foundations will always put him on top of others. No politician, no media persons, almost all the citizens who lack MINIMUM CIVIC SENSE will never get a rite to comment or to blame him for this issue. Even if he is found guilty, he is always a HERO. a HERO who served the mankind.
Hemanth,
You represent the spirit of a true Satyamite.
On the First hand I cannot stop appreciating you for your heartful effort and constructive attitude.
As a satyamite I am very proud to be associated with Satyam even at this hour of time and inspite of all these discrepencies Mr.Raju stands as my Role Model.
Crisis? guys where we do not have crisis in this world? I feel crisis is what makes a human being more stable and focussed.
If there exists some critical situation in a family and the children in the family makes noise the situation becomes more worst.
Satyam is more or less our family, we associates are the children, It may be one of the best contribution if we keep silent until the situations become normal.
I may sound emotional with the above exapmle but I justify it this way that I am very prompt and sinciere to the Company even in its tough times.
I just have few action items from my end
->Let us not get carried away by the Medias false hype
->Let us be focussed and Commited to our work which is worship
->Let us contriute our best to regain the Satyam's "CHARM" AND "CARISHMA"
For everone who throw false light at this hour I just wanted to say one thing "Situations are not rosy always" there may be anything unexpected.
Today Satyam may face a disaster but there is no guarantee what may happen tommorow and who may be the victim?
So please stop promoting falsified statements.Give the government/associates the entire nation some space to think and make the situations normal.
Last but not the least I am very confident that Satyam will prove its existence and we all will see that in the mere future.
"HOPE fOR THE BEST AND LEAVE THE REST"
Lets collectively pray for the good of our family "SATYAM"
Hello Hemant... Firstly i would like to appreciate your efforts in taking time and contributing your amount of responsibility towards Satyam... I have seen you when you joined SATYAM as a fresher and I have seen you growing with your leadership qualities... Only thing I can tell for your blog and to you is "I WILL STAND WITH SATYAM TILL LAST MINUTE" and "SALUTE YOUR SPIRIT FOR SATYAM"......You are a true LEADER for SATYAM
This blog shows how dejected you are by the debacle of your company.Your intension to stand united at this moment shows your love towards your organization.I also remember how dedicatedly you work to meet the stringent deadlines.But,I would like to emphasize that,though how dedicated you are and how united you are...it is ultimately the management that is responsible or questionable for such a situation.It is also ridiculous that the higher officals are not even aware of Mr.Raju's movements...
But at the same time I dont think his intensions are completely wrong...He is a man of versatile ideas.His view to form a conglomerate is not wrong but the
approach which he had chosen is wrong.If everything would have gone well he would have created more employement opportunities and would have strived more for the nation's growth.But unfortunately it happened like this...
I wish the situation will rehabilitate...
Great efforts to write the blog...keep it up :)
Hemanth...As always you are the perfect embodiment of a Satyamite!! Yeah as u truly said a company is truly bigger than any individual.....n I hope a day would come when Satyam regains its lost glory!!
Hemanth, I really impressed to see such blog and I hope it lifts the "Spirit of Satyam" to the maximum heights. Well, I could not just control my emotions and wanted express them here.
As everyone aware, "Bad" always floats much faster than "Good" and this is what happened in case of RAJU sir too. RAJU sir took more than 20 years to reach heights in his career and I am sure not even 10% of people in India know who is RAJU & his biography. But now RAJU has known to more than 60% of the people in the world (at least in few countries) just because of recent issue. All the TV channels would have telecasted at least 16 to 18 hours on RAJU issue every day from the past one week. How many TV channels would have telecasted "good" about RAJU over the past few years, how many of us knew that "108" idea was given by RAJU sir and helped AP Govt in implementing it successfully by donating hundreds of crores. For last 5 years, I have been noticing at least one incident every night where "108" is saving at least one life. Thanks to RAJU sir for a such greatful idea.
At the end of year 2008, I believe only 5 to 10% of people in India know who is RAJU because he was not involved in any scams. But today RAJU sir has known to 80% of the people in India just because he has shown non existing profits of his own company.
If I understand the recent issue correctly,
What is the mistake done by RAJU sir?
As per the statement in his resignation letter, he has shown not existing profits in satyam for last few years.
Well, if this is a big scam who lost what because this?
I believe investors lost their money because of their investiments in RISKY share market.
Who benifited from it????
1. RAJU sir & his family? not really, at least I don't agree
2. Investors?? yes, all the money went to other investors pockets.
3. Govt??? yes, RAJU sir paid taxes to govt on non-existing profits. I beieve at least 2000 crores paid on non-existing 7000 crores profit.
4. Employees???? yes, employees are paid 110-120% OPLP, BPLP, CPLP on non-existing profits.
How many of us are really happy to pay tax to govt on our income in India???
??????????????
SATYAM had a very good chance in the mid of the year 2008 to stop salary hikes, ELTP bonus, STAGGARD CASH REWARDS. But SATYAM did not do that.
"Investments are subject to market risks". Every investor who enters market is aware of this.
I have seen lot of other individual stocks which fall down to less than 5% within 12 months.
I believe most of the investors lost their money since January 2008 and most of them are staying away from market because of the world crisis. Indian share market has seen index above 22000 in the month of Jan 2008 and fall down to less than 7000 points. Did anyone blame for this crisis, I am sure every investor blamed themself and get out of it.
I have seen many people invested in hyderabad real estate and lost all their money because of world crisis. Now they hardly left with 10 to 15% money near International Airport in hyd. This is worst than people invested on SATYAM stock. Surprisingly no one was blamed for this.
To cover SATYAM news, Indias famous TV channels parked their cars on the roads near Hitech city and caused traffic Jam and now they talk about better society!!!
Dear Hemanth
Excellent!!
"SATYAM... We stand by you till the last minute"
That's the spirit.
We should strongly believe that the situation is as simple as below.
Only the management has changed , we continue with the same mission and objectives of the organisation.
Let's not get panic. We are in place. we really do not have enough information to comment on the situation.
lets stand united .. v shall bring back satyam on the same level.
Let's continue our work as before.
Best wishes
Sudha
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