Infosys Technologies Limited is considered a paragon of virtue among Indian businesses. That of course is fiction. You don’t believe us? Go look at Infosys’ IPO documents dating back to the early 1990s. What did Infosys tell you they were raising money for in the IPO prospectus? Did the company do as promised in the […]
Citigroup’s new CEO Vikram Pandit has already started sacrificing employees on the altar of saving the financial institution that is buffeted by the subprime mortgage meltdown and incompetent management. Early reports suggest that 4,200 Citigroup employees have already lost their jobs with thousands more job losses to come.
Infosys disclosed Friday that it had settled with the California Division of Labor Standards Enforcement (DLSE) towards possible overtime payment to certain employees in California for a total amount of $26 million. The payment pertains to the last three years and such back wages will be paid to employees in due course. The California Overtime […]
Struggling Citigroup’s new CEO Vikram Pandit has taken out his begging bowl to shore up the bank’s shaky financial foundation, going by today’s front page story in the Wall Street Journal (subscription required). The Journal piece suggests that Citi is looking to raise up to $10 billion and that Vikram Pandit is looking to the Middle […]
Now that Ratan Tata has unveiled the much anticipated $2,500 Tata Nano at the Delhi Auto Expo, the two big questions are what does the People’s Car mean for existing foreign players like Ford, GM and Suzuki who have set up operations in India and what impact will it have on Tata’s aspirations for the high-end Jaguar […]
Even before Tata’s $2,500 (Rs 100,000) car hits Indian roads, American auto maker Ford is singing a melancholic tune. Ford acknowledged that its car sales in India in 2008 would be the same as last year – 40,000 (which itself was lower than the 2006 sales figure of 42,060 units). Sure looks like Ford’s troubles in […]