Category Archives: Business

Wall Street Bonuses are Not the Real Issue

This month the biggest Wall Street companies reported their quarterly earnings. JP Morgan Chase and Goldman Sachs reported bumper earnings, Citgroup and Bank of America, not so good. But if you leave out write downs on debt, everyone had a … Continue reading

Posted in Business, Economics, Finance | 6 Comments

Insider Trading

Raj Rajaratnam the boss of Galleon, a hedge fund in New York was arrested on Friday for being the mastermind of an insider trading network. That network included people in other hedge funds, private equity funds, consultants and corporate executives … Continue reading

Posted in Business | 9 Comments

The Water in a Bottle of Water

Got back from some vacation in the Mayan Riviera (near Cancun, Mexico). Had a lovely time. The structure in the background of the bottle is the amazing step pyramid at Chichen Itza. In Mexico I encountered a familiar problem with … Continue reading

Posted in Business | 8 Comments

Protectionism Ahead?

Last week Bank of America withdrew offers to MBA students on H1 B visas. As a recipient of TARP money from the federal government the bank had to comply with a clause that Congress had inserted into the TARP bill … Continue reading

Posted in Business | 2 Comments

Career Advice to the IIM Ahmedabad Graduating Class

Last week I was at IIM Ahmedabad for my 20 year reunion. For two days and three nights we had non-stop fun reliving all the special memories from our times at IIM. Reunions, some say, can be quite a let … Continue reading

Posted in Business, Education, India | 13 Comments

Satyam – the Larceny Scenario

Investigators looking into the fraud that has been called India’s Enron have found a “maze” of about 300 companies related to Mr. Raju that were used to “siphon” as much as $1 billion in cash from Satyam, said a senior … Continue reading

Posted in Business, India, Offshore Services | 10 Comments

Satyam Operating Margins Look Real

I pulled this chart together on our very own research platform just to see if there were any signs in the operating margins that Satyam was managing earnings. I found none. The comparables to Satyam (SAY) are Infosys, Wipro and … Continue reading

Posted in Business, India, Offshore Services | 6 Comments

Satyam Next Steps

India’s regulatory authorities have made a great start on the Satyam accounting fraud scandal. The two bodies that would have regulatory oversight over such a situation – the Ministry of Company Affairs and SEBI – are both playing this on … Continue reading

Posted in Business, Finance, India, Offshore Services | 3 Comments

Questions re Satyam

While I was out of circulation and not blogging (business trip and vacation) the Satyam saga was unfolding. I remained abreast of what was happening but didn’t post anything on it. It’s been well covered by other bloggers and the … Continue reading

Posted in Business, Finance, India, Offshore Services | 10 Comments

Incentive Compensation as a Risk Factor

footnoted.org has a post highlighting a Risk Factor from the 10Q of Anworth, a company that invests in agency backed mortgage securities. Here’s how it reads In the risk factors section of its first quarter 10-Q filed Friday, Anworth gives … Continue reading

Posted in Business | 4 Comments