RSSSatyam stranger than fiction
Not really fiction, but certainly stranger than anything I was imagining when I wrote this entry on the dismal prospects for Indian off-shoring firms last week, singling out Satyam particularly in light of their increasing financial difficulties.
As has been the case in the past (most recently with the Entellium scandal), it seems like as soon as someone calls me out for being excessively dramatic about a particularly lurid episode, it takes a sudden turn for the worse. Such is the case for Satyam with today's revelation by Chairman Ramalinga Raju that he has been cooking the books… to the tune of more than a billion dollars.
As I implied in that post last week, I'd planned to discuss off-shoring operations in the context of the recession anyway this week, so look for more of my take on this on Friday, when that expanded entry is slated to go up.
In the meantime, expanding fallout available here on Techmeme.
