where Iam participating in Satyam share holder meeting .
Claps .... I get up pat my Colleague and walk towards the podium where the currentt board members of satyam and senior management are sitting . ....
I take up the mike on the way
Me : I appreciate the opportunity u are giving me Mr Parikh as the single largest shareholder in Satyam Computers to speak . ( a small laugh) ... Well Ladies and Gentle Man we are not here to indulge in fantasy but in political and economic reality .
India has become a third grade country . Its trade deficit and its fiscal deficit are at nightmare proportions .Down in the days of 17th & 18th century our country was a great economic power there was accountability to our society . Our kings built this great country and made sure of it because they had put their wealth at stake .
Today management has no stake in the company . Altogether these men ( pointing my finger to all the satyam management team ) sitting up here own less than 3 % of the company and where as Mr Raju put his million $ in Maytas. Now Satyam stocks yield negative % .
You own the company that is right ( pointing my fingers to the share holders ) u the stock holder , you are all being royally screwed over by these bureau crates (pointing my fingers towards the satyam management team ) with their pay incentives , corporate parties and golden parachutes .
One member from Satyam management team shouts : This is an outrageous !!!.
I ignore the shout and continue talking ...
Me : Satyam computers has 33 different Vice presidents each earning over Rs 50 lakhs a year . And I have spent the last few months analysing what all these guys do and I still cannot figure this out . ( A slight smile in my face ) . One thing I do know is that our IT company ( Satyam ) lost a large deal client account of 300 million $ last year and I will bet that half that was spent in paper work going forth between all these vice presidents ( The account had multiple units of stake ) .
Share holders laugh ... I continue speaking ..
Me : The new law of evolution in corporate India seems to be survival of the unfittest . Well in my book you are doing right or you are eliminated !!. ( pause for few seconds )
In last 7 deals I have been involved with there were 2.5 million stock holders who have made a pre -tax profit of 12 billion rupees ..
Claps from audience .
Me : Thank you . ( claps stops ) Iam not a destroyer of the companies . Iam a liberator of them . The point is ladies and gentle man that greed , for a lack of better word is good . Greed is right . Greed works. Greed clarifies ,Cuts through and captures the essence of the evolutionary spirit . Greed in all of its forms , Greed for life , for money , for love , knowledge has marked the upward surge for the mankind and greed you mark my words will not only save Satyam computers but the other malfunctioning corporation called the India . Thank you very much .
Heavy clap and whistles from audience as I walk back to sit at my place .
