Being in India has meant that I’ve seen the Satyam saga unfold up close and personal with the extensive media coverage. The media seems like a wild cat ready to pounce on fresh meat. There is no semblance of respect for a company that has been a beacon of Indian IT success. The endless hypotheticals and coverage that includes theme music and a logo affecting the livelihood of 50,000 employees sickens me.
I might be really dense but what has the company done wrong really? They wanted to invest in a sister firm, isnt that the instinct of any family-owned business? People who buy shares in a family-owned firm should surely know the risk before investing. I work in the biggest company in its industry and it is family run.
Nobody is saying that it was a daft decision. Nobody is arguing that the return on investment would be lower than if the same amount was invested in a competitor. The only issue is “misgovernance” which is of concern to shareholders.
I’ve gone beyond the point of rage to a sadness that this is how much the media cares. Surely, this can’t be the result of freedom of press in the world’s largest democracy.