Kevin Chou has had his fair share of visa woes. For the past two years running, his Silicon Valley social networking start-up, Watercooler, has applied for an H-1B work visa for the same Canadian employee. Both times, the petition lost out in the government's annual visa lottery, which selected only 85,000 from a pool of more than 120,000 hopefuls.
The last few weeks have led to the startling revelation of large-scale lapses in corporate governance by a leading India-based IT company. The disclosures have indeed been a wake up call for all stakeholders -- companies, customers, governments and employees.
When a scandal the size of India's Satyam emerges, the flurry of reaction gives the appearance of major change in the works. B. Ramalinga Raju, who has admitted to inflating his software company's profits by around $1 billion in recent quarterly results, is India's version of Bernard Madoff. And people responded accordingly. Foreign investors and customers, for example, may be more cautious when choosing partners. The media and authorities will examine company results more closely, and this will make some auditors more cautious. India's SEBI, the stock market regulator, has strengthened disclosure requirements on family-controlled companies.
Stocks of Satyam Computer Services Ltd., the Hyderabad-based company at the center of a massive corporate fraud case, surged Monday on news the new government-appointed board will pick a new chief operating officer.
The chief financial officer of India's Satyam Computer Services Ltd. was arrested Saturday, the third person taken into custody in a scandal that began when the company's chairman admitted inflating profits with "fictitious" assets and non-existent cash.
India's main stock exchange -- the BSE SENSEX -- delisted Satyam Computer Services from its indices Thursday, a day after the company's chairman resigned saying he had inflated the company's profits for years.
Bangalore has a suicide rate three times the national average. The workplace stress in India's booming corporate sector may be taking a psychological toll
Kevin Chou has had his fair share of visa woes. For the past two years running, his Silicon Valley social networking start-up, Watercooler, has applied for an H-1B work visa for the same Canadian employee. Both times, the petition lost out in the government's annual visa lottery, which selected only 85,000 from a pool of more than 120,000 hopefuls.
The last few weeks have led to the startling revelation of large-scale lapses in corporate governance by a leading India-based IT company. The disclosures have indeed been a wake up call for all stakeholders -- companies, customers, governments and employees.
When a scandal the size of India's Satyam emerges, the flurry of reaction gives the appearance of major change in the works. B. Ramalinga Raju, who has admitted to inflating his software company's profits by around $1 billion in recent quarterly results, is India's version of Bernard Madoff. And people responded accordingly. Foreign investors and customers, for example, may be more cautious when choosing partners. The media and authorities will examine company results more closely, and this will make some auditors more cautious. India's SEBI, the stock market regulator, has strengthened disclosure requirements on family-controlled companies.
Stocks of Satyam Computer Services Ltd., the Hyderabad-based company at the center of a massive corporate fraud case, surged Monday on news the new government-appointed board will pick a new chief operating officer.
The chief financial officer of India's Satyam Computer Services Ltd. was arrested Saturday, the third person taken into custody in a scandal that began when the company's chairman admitted inflating profits with "fictitious" assets and non-existent cash.
India's main stock exchange -- the BSE SENSEX -- delisted Satyam Computer Services from its indices Thursday, a day after the company's chairman resigned saying he had inflated the company's profits for years.
Bangalore has a suicide rate three times the national average. The workplace stress in India's booming corporate sector may be taking a psychological toll
Here are some facts from tonight's broadcast that you might find interesting. Rank Company/L-Visas in FY 2006 1) TATA CONSULTANCY SERVICES LIMITED/4887 2) COGNIZANT TECH SOLUTIONS US CORP/3520 3) IBM CORPORATION/1237 4) SATYAM COMPUTER SERVICES LTD/950 5) WIPRO LIMITED/839 6) HCL AMERICA INC/511 7) DELOITTE & TOUCHE LLP/DELOITTE CONSULTING LLP/512 8) PATNI COMPUTER SYSTEMS INC/440 9) INTEL CORPORATION/394 10) KANBAY INC/329 11) HONEYWELL INTERNATIONAL INC/320 12) HEWLETT-PACKARD COMPANY/316 13) INFOSYS TECHNOLOGIES LIMITED/294 14) ACCENTURE LLP/291 15) CARITOR INC/231 16) SCHLUMBERGER TECHNOLOGY CORP/214 17) ORACLE USA INC/176 18) SYNTEL LTD/171 19) PRICEWATERHOUSECOOPERS LLP/168 20) MICROSOFT CORPORATION/168 Source: USCIS Report • 5 of top 10 L-visa users are India based companies: Tata, Satyam, Wipro, HCL, Patni Source: USCIS Report • Only one in top 10 L-visa users are NOT doing offshore outsourcing in a significant way: Intel
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