Satyam Computers is back on track. Watch Tarun Dash speaking.
So, as I shared the news in my earlier post that Satyam has already paid January 2009 salary to it's employees, the good time has started coming with the 1st day of February. The month of January 2009 has been a nightmare for all Satyamites who have been traumatized by continuous media speculations. The Company in its website has been continuously keeping all stake-holders updated against media rumours. With around 10-12 big names from Corporate World lined up to buy Satyam, Satyam's Shares continuesly rising and finally Satyam paying salaries to all emplyees in time (on 31st Jan), we are certain, that its time for some good news. If you still have doubts, take my word, it's business as usual here within Satyam. What's more, Satyam's directors are clearly communicating to media andhere is what Mr. Tarun Dash feels about Satyam Future.
Wtach it here: http://www.moneycontrol.com/india/video/stockmarket/11/42/newsvideo/382814
Here is a verbatim transcript of the exclusive interview with Tarun Das on CNBC-TV18. Also see the accompanying video.
Q: Let me start with a simple question that I think many people want you to answer. Does Satyam despite the terrible knock that it has faced have a future?
A: Absolutely, this company has great resources, outstanding people, technology know-how, fixed assets, and customers, you name it. So, this company has a great future.
Q: Will you talk first about people and Satyam is a people-led company. But given the knock it has suffered, given the tension and uncertainty they have been through, how can you be sure you can retain them? How can you be sure they even want to stay?
A: The response that we are getting from the employees of Satyam, they call them associates, is outstanding. They have been through a very traumatic few weeks ‑ very traumatic. It is understandable if they are uncertain, if they are feeling diffident. But we are reaching out to them. We are stabilizing the company, and are saying to them that they have a future. We have got cash in the company, and they are going to get their salaries on time etc.
Q: The first thing that they want to know when you reach out to them is what you hinted out or said quite clearly a moment ago that they will get their salaries on time. Are you saying to me today that the January salary due at the end of January will be paid promptly and in full?
A: No question about that. Globally, not only in India. Also, the early February salary is to be paid to all our employees in the US. We have the money, we have raised money. The employees of Satyam have increased collections, the money has flowed in. In the last two weeks, this has been done by the executives of Satyam.
Q: So, when newspapers and there was one in particular over the weekend Business Standard, which reported that there were offers being made to Satyam employees or associates as they preferred to be called by rivals and these were offers that were sometimes derisory because they were only offering up to 50% of the existing salary. Are you saying to me that no one is going to be tempted to take up that sort of offer?
A: First of all, offers are being made that we know and we know it from some of the employees. I think very few will go, maybe some will go. But as they see Satyam stabilizing, as they see money is in the company, as they see cash coming in from the banks and as they see customers staying they will stay with Satyam.
Q: The other side of the equation is what you mentioned customers staying. Are you confident that with the exception of four or five or a handful of companies that quit the others who have been with Satyam for 10 years, maybe even 15 years, will stay despite what has happened to Satyam’s reputation in the market?
A: A few have gone and few more will go. But we are reaching out to our customers around the world not only to retain them, but we are actually now after all that has happened negotiating for increased business with some of the world’s best names in the corporate sector.
Q: New people?
A: Old people and new people.
Q: So, when newspapers like The Hindu and The Economic Times says that you are in danger of losing customers to the tune that perhaps 25% of the companies revenues may disappear you are saying to me that is just rubbish?
A: I don’t think that will happen. By the way I have great respect and I have lots of friend in the media, but I think the media is also into a lot of new businesses this time like manufacturing news.
Q: So, what you are saying is that there is lot of misreporting, either malicious or more likely based on bad information?
A: Mostly based on wrong information.
Courtsey: Moneycontrol.com
Wtach it here: http://www.moneycontrol.com/india/video/stockmarket/11/42/newsvideo/382814
Here is a verbatim transcript of the exclusive interview with Tarun Das on CNBC-TV18. Also see the accompanying video.
Q: Let me start with a simple question that I think many people want you to answer. Does Satyam despite the terrible knock that it has faced have a future?
A: Absolutely, this company has great resources, outstanding people, technology know-how, fixed assets, and customers, you name it. So, this company has a great future.
Q: Will you talk first about people and Satyam is a people-led company. But given the knock it has suffered, given the tension and uncertainty they have been through, how can you be sure you can retain them? How can you be sure they even want to stay?
A: The response that we are getting from the employees of Satyam, they call them associates, is outstanding. They have been through a very traumatic few weeks ‑ very traumatic. It is understandable if they are uncertain, if they are feeling diffident. But we are reaching out to them. We are stabilizing the company, and are saying to them that they have a future. We have got cash in the company, and they are going to get their salaries on time etc.
Q: The first thing that they want to know when you reach out to them is what you hinted out or said quite clearly a moment ago that they will get their salaries on time. Are you saying to me today that the January salary due at the end of January will be paid promptly and in full?
A: No question about that. Globally, not only in India. Also, the early February salary is to be paid to all our employees in the US. We have the money, we have raised money. The employees of Satyam have increased collections, the money has flowed in. In the last two weeks, this has been done by the executives of Satyam.
Q: So, when newspapers and there was one in particular over the weekend Business Standard, which reported that there were offers being made to Satyam employees or associates as they preferred to be called by rivals and these were offers that were sometimes derisory because they were only offering up to 50% of the existing salary. Are you saying to me that no one is going to be tempted to take up that sort of offer?
A: First of all, offers are being made that we know and we know it from some of the employees. I think very few will go, maybe some will go. But as they see Satyam stabilizing, as they see money is in the company, as they see cash coming in from the banks and as they see customers staying they will stay with Satyam.
Q: The other side of the equation is what you mentioned customers staying. Are you confident that with the exception of four or five or a handful of companies that quit the others who have been with Satyam for 10 years, maybe even 15 years, will stay despite what has happened to Satyam’s reputation in the market?
A: A few have gone and few more will go. But we are reaching out to our customers around the world not only to retain them, but we are actually now after all that has happened negotiating for increased business with some of the world’s best names in the corporate sector.
Q: New people?
A: Old people and new people.
Q: So, when newspapers like The Hindu and The Economic Times says that you are in danger of losing customers to the tune that perhaps 25% of the companies revenues may disappear you are saying to me that is just rubbish?
A: I don’t think that will happen. By the way I have great respect and I have lots of friend in the media, but I think the media is also into a lot of new businesses this time like manufacturing news.
Q: So, what you are saying is that there is lot of misreporting, either malicious or more likely based on bad information?
A: Mostly based on wrong information.
Courtsey: Moneycontrol.com
Comments