at FmyLife.com, in a few sentences, users can tell everyone the shitty moment which ruined their day

French website VieDeMerde.fr (which translates as bad life), where the people are encouraged to wallow in self-pity, has become one of the top ten most visited sites in France since its launch in January 2008 by two young French entrepreneurs. A host of similar sites for losers are doing a roaring trade, including RaterSaVie.com (FailYourLife), which has become a hot topic in France ever since Jacques Séguéla, an advertising guru and close friend of President Nicolas Sarkozy, claimed last month that those who did not have a Rolex watch by the age of 50 had "failed" their life. Other spin-offs include Jaipasdechance.com (I've no luck) and jobdemerde.com (sh*tty job). In January the creators exported the concept to the US with a version called FmyLife.com (F*ck My Life) with incredible results.

"F*ck My Life" logo

Apparently going against the grain of the famous American "can do" optimism, a million people visit the US site every day to read about other people's hard-luck stories or recount their own, with the highest hits in New York and Los Angeles. In what has been dubbed "Twitter for losers", both VDM and FML, the American version, invite users to vent their misfortunes in a few words, the bleaker the better.

FMyLife serves as "a recollection of everyday anecdotes likely to happen to anyone." Posts on the site are short, user-submitted stories of unfortunate happenings that begin with "Today" and end with "FML," an acronym short for "F*ck my life."

an example of the post:

Today, I received my passport in the mail. They got my birthdate wrong. Then I picked up my birth certificate that I had sent in with the application. Turns out my parents have been celebrating my birthday on the wrong day for 16 years. FML

another example of the post:

Today, I had sex with this guy who I like very much. As he went to leave I decided to give him one last thrill. So I reached down his pants and started to rub and stroke him. He abruptly pulled my hand out, when I asked why, he points behind me, my mom watched the whole thing. FML

The slogan of the site is: "My life sucks but I don't give a f*ck".

As per Alexa the web rank of FML is 1024 in web traffic statistics.

The posts in FML are rated and there is a hall of Fame of all time F*cked up stories. Click here to read them.

FML founders have also published a book having a collection of all this.

Categories in the FML (click on any of these to visit subsequent FML posts):

• Love

• Money

• Kids

• Work

• Health

• Sex

• Miscellaneous

knowing Twitter, Tweets & Micro Blogs

Just heard a lot about twitter & made an account in it. Enjoyed it. It's a good way to tell your friends & others; in real time; what you are currently into.

click on this image to view my twitter profile

What is twitter ?
Twitter is a free social networking and notably most used micro blogging service. It was launched in July 2006 and won the Web Award in the blog category at the 2007 South by Southwest Conference in Austin, Texas.

twitter logo

As per Alexa's calculation it's current web rank is 27 in terms of web traffic.

twitter bird logo often seen around the website

User's updates (micro blogs) are called "tweets". Tweets are text-based posts of up to 140 characters, displayed on the author's profile page and delivered to other users - known as followers - who have subscribed to them. Senders can restrict delivery to those in their circle of friends or, by default, allow open access. Users can send and receive tweets via the Twitter website, Short Message Service (SMS) or external applications. The service is free over the Internet, but using SMS may incur phone service provider fees.

It is sometimes described as the "SMS of the Internet".

What is Micro blogging ?
Micro blogging is a form of multimedia blogging that allows users to send brief text updates or micromedia such as photos or audio clips and publish them, either to be viewed by anyone or by a restricted group which can be chosen by the user. These messages can be submitted by a variety of means, including text messaging, instant messaging, email, digital audio or the web. The content of a micro-blog differs from a traditional blog in that it is typically smaller in actual size and aggregate file size. A single entry could consist of a single sentence or fragment or an image or a brief, ten second video. But, still, its purpose is similar to that of a traditional blog.

Users micro-blog about particular topics that can range from the simple, such as "what one is doing at a given moment," to the thematic, such as "sports cars," to business topics, such as particular products. Many micro-blogs provide short commentary on a person-to-person level, share news about a company's products and services, or provide logs of the events of one's life. The findings of a study by Emily Pronin of Princeton University and Harvard University's Daniel Wegner, pointing to a link between the short bursts of activity that microblogging frequently involves and feelings of elation, power and creativity, have been cited as a possible reason for the rapid growth of microblogging.

Dan Meth timeline chart of movies

unveiling the mystery of Real-life Superheroes

What are Real-life Superheroes & what do they do ??
People who dress and/or act like comic book superheroes. Sometimes, this label is bestowed upon them by those whom they have helped or the media, while at other times, the aspiring superheroes apply the label to themselves. They usually patrol at night and help the people (specially protecting women against crimes) in need. There are also some who do social welfare jobs.

Who are Real-life Superheroes ??
They usually don't reveal their identities or reveal it to some few.

Some real life examples of Real-life Superheroes (with proper evidences) documented in the news media :

• The Portland, Oregon-based newspaper Willamette Week reported on Zetaman and his patrols consisting of seeking out the needy with gifts of food and clothing. This was later reported on the Portland-based ABC affiliate, KATU, and CNN.
  

• ABC News and NPR's Wait Wait... Don't Tell Me! radio program interviewed Terrifica, a New York City-based woman who patrols bars and parties in an effort to protect inebriated women in danger of being taken advantage of by men. Since the mid-1990s, Terrifica has donned a golden mask, Valkyrie bra, blond wig, red boots and cape, to distract the men she tries to dissuade from seducing drunk young women. She carries a utility belt containing pepper spray, a cell phone, lipstick, a camera to photograph alleged predators, a journal, Terrifica fortune cards, and Smarties for energy. Terrifica has an arch-nemesis, a self-proclaimed philanderer who calls himself Fantastico.
  

• TreeHugger reported on Captain Ozone starring in ecological television PSA’s, making appearances at grade schools and hemp festivals, creating a video documentary on environmentalism, and also organizing a public demonstration for renewable energy.
  

• The BBC reported on Angle-Grinder Man, a British self-described "wheel-clamp superhero" who uses an angle grinder to cut wheel clamps off vehicles in Kent and London.
  

• CNN covered Mexico City's Superbarrio, who wears red tights and a red and yellow wrestler's mask. Rather than fight crime and corruption with violence, he uses his unique image to organize labor rallies and protests, and file petitions.
  

• The Age described Polarman of Iqaluit, Canada, whose primary interests are shoveling the snow off sidewalks during the day, and patrolling the streets for criminals at night.
  

• WTOP-FM, a radio station in Washington DC, reported on Metro Woman, who uses a superhero costume and identity to spread information on using mass transit and the ecological benefits of using public transportation in the Washington DC Metro region.
  

• CBS affiliate WTSP reported about Superhero and Lady Hero in Clearwater, Florida.
  

• The Washington Post reported a story about superheroes Captain Prospect and Justice, members of the "Capital City Super Squad" in Washington DC.
  

• Central Florida News 13 did a story on "Team Justice," a group of costumed superheroes giving Christmas gifts to the homeless.
  

• The Twin Cities-based newspaper City Pages ran a story focusing on a Minnesota superhero, Geist. The article also featured many other Real Life Superheroes.
  

• ABC's Nightline news program interviewed real-life superheroes Squeegeeman and Captain Xavier Obvious, who patrol New York City. The heroes have also been documented in Radar Magazine, Time Out New York, and HDNET's Deadline.
  

• The Salt Lake City-based newspaper Salt Lake City Weekly reported on the patrols of The Black Monday Society and the costumed identities of its team members Insignis, Ghost, Ha!, Oni, and Silver Dragon. FOX News Salt Lake City ran a story on the team as well.
  

• The New York Daily News did an article on Life and Dark Guardian patrolling through New York City and helping the homeless.
  

• Rolling Stone ran a feature about the "real superhero community," featuring Master Legend and The Ace.
  

• La Repubblica, in Italy, did a brief article about the phenomenon, prominently featuring Entomo The Insect-Man, a masked patroller and activist.In February 2009, Rai 4 filmed a night-time patrol and interview with Entomo at the abandoned Italsider Factory in Naples. This special feature was aired on the TV program 'Sugo'. Following an extensive interview on Il Riformista, Entomo was depicted on all the major Italian newspapers, as well as Spanish: Il Mattino and Panorama, among the many. The Real Life Superhero became a media sensation from day to night, and Yahoo Italia also dedicated its first page to him.
  

• Jack Brinatte, known as Razorhawk, appeared on Fox News America Newsroom.
  

• CityNews, a news network in Toronto, had an article on Allan Shields, known as Parking Angel, a man whose self proclaimed mission in life is to "try to save as many motorists as possible from receiving one of those irritating - and expensive - parking tickets."
  

• The New York Times told of the exploits of Superheroes Anonymous, the first annual gathering of real-life Superheroes from all over America, who cleaned Times Square, helped the homeless, and handed out crime prevention materials."
  

• The San Diego Union-Tribune and UPI wrote about heroes like Mr. Xtreme, a security guard who moonlights as a "costumed crime fighter" in San Diego, California. He wears a camouflage wrestling mask with bug-shaped mesh eyes.
  

• Thanatos, Life and Phantom Zero were featured in an article by Globe and Mail. They discussed their different views and methods on being Real Life Superheroes.
  

• CBS Atlanta reports Crimson Fist patrols Atlanta twice a month to help those in need.
  

• Dark Guardian, Life and Phantom Zero were featured in the March edition of Loaded Magazine.
  

• Wall Creeper and Zen Blade were featured on Westword, Denver's alternative weekly publiciation.
  

• MSN mentions Master Legend, Captain Prospect, Geist, Tothian, Captain Jackson, Nyx, and Michael Brinatte, owner of Hero-gear.net in an online article.
  

• ABC KSTP 5 reported on Razorhawk, Geist and the Great Lakes Hero Guild while they patrolled Minneapolis. The segment was re-broadcast nationally on ABC Overnight News.
  

• Dark Guardian and Citizen Prime were featured on the Premiere episode of the G4 show, G4 Underground starring Morgan Webb.
  

• Cincinnati, Ohio-based NBC affiliate News 5 WLWT reported on Shadow Hare. This was later rebroadcast on CNN.
  

• Dark Guardian, Life and Phantom Zero were featured on WPIX channel 11 The CW affiliate as they patrolled New York City. News clip shown featured Dark Guardian confronting a drug dealer courtesy of Superheroes Anonymous film crew.
  

• CNN featured an article on Mr. Ravenblade, Dark Guardian, Mr. Xtreme and Superheroes Anonymous.

meat eating increases GLOBAL WARMING - eat less meat, dairy products to save the earth's environment from buring out

The UN's Food and Agriculture Organisation has estimated that meat production accounts for nearly a fifth of global greenhouse gas emissions. These are generated during the production of animal feeds, for example, while ruminants, particularly cows, emit methane, which is 23 times more effective as a global warming agent than carbon dioxide. The agency has also warned that meat consumption is set to double by the middle of the century.

Last year a major report into the environmental impact of meat eating by the Food Climate Research Network at Surrey University claimed livestock generated 8 per cent of UK emissions. It also said vegetarian diets that included lots of milk, butter and cheese would probably not noticeably reduce emissions because dairy cows are a major source of methane, a potent greenhouse gas released through flatulence.

Cattle-rearing generates more global warming greenhouse gases****, as measured in CO2 equivalent, than transportation, and smarter production methods, including improved animal diets to reduce enteric fermentation and consequent methane emissions, are urgently needed, according to a new United Nations report released today.

The breakthrough came in 2006 when the UN Food and Agriculture Organisation (FAO) published a study, Livestock's Long Shadow, showing that the livestock industry is responsible for a staggering 18% of all anthropogenic greenhouse gas emissions.

soy

This is only the beginning of the story. In 2008, Brazil announced that in the 12 months to July it had lost 12,000 sq km of the Amazon rainforest, mainly to cattle ranchers and soy producers supplying European markets with animal feed. There is water scarcity in large parts of the world, yet livestock-rearing can use up to 200 times more water a kilogram of meat produced than is used in growing wheat. Given the volatile global food prices, it seems foolhardy to divert 1.2bn tonnes of fodder - including cereals - to fuel global meat consumption, which has increased by more than two and half times since 1970.

cattle ranchers in a cattle livestock

Vegetarians have been around for a very long time - Pythagoreans forbade eating animals more than 2,500 years ago - but even as the environmental evidence mounted, they didn't appear to be winning the argument. Today in Britain just 2% of the population is vegetarian.

Thankfully, a more pragmatic alternative to total abstinence now seems to be emerging. Dr. Rajendra K. Pachauri, chair of the UN Intergovernmental Panel on Climate Change (IPCC), a vegetarian himself, called on people to take personal responsibility for the impacts of their consumption. "Give up meat for one day [a week] initially, and decrease it from there," he said. "In terms of immediacy of action and the feasibility of bringing about reductions in a short period of time, it clearly is the most attractive opportunity." Pachauri said diet change was important because of the huge greenhouse gas emissions and other environmental problems - including habitat destruction - associated with rearing cattle and other animals. It was relatively easy to change eating habits compared to changing means of transport, he said. In an interview with Supreme Master Television , Dr. Pachauri shared that he wasn’t always a vegetarian until he realized the detrimental environmental impact of the raising of livestock for human consumption.

This week the Belgian city of Ghent met his demands by declaring Thursday a meat-free day. Restaurants, canteens and schools will now opt to make vegetarianism the default for one day a week,and promote meat-free meals on other days as well. This is not the first institutional backing for such a move. In Britain, the country's health service (NHS) now aims to reduce its impact on the environment partly by "increasing the use of sustainably sourced fish and reducing our reliance on eggs, meat and dairy." Last year, Camden council in London announced that it would be issuing a report calling for schools,care homes and canteens on council premises to cut meat from menus and encourage staff to become vegetarian. (In the end the initiative was shot down by Conservative councillors who insisted that people should not be deprived of choice.) While in Germany the federal environment agency in January called on Germans to follow a more Mediterranean diet by reserving meat only for special occasions. These initiatives may sound novel, but in fact they reinstate what was for centuries an obligatory practice across Europe. The fasting laws of the Catholic church stipulated that on Fridays, fast days, and Lent, no one could eat meat or wine; on some days, dairy products and fish were also banned. Even after the Reformation Elizabeth I upheld the Lenten fast, insisting that while there was no religious basis for fasting, there were sound utilitarian motives: to protect the country's livestock from over-exploitation and to promote the fishing industry (which had the ancillary benefit of increasing the number of ships available for the navy). Towards the end of the 18th century, two consecutive bad harvests in Europe created shortages. There was a huge public clamour for the wealthy to cut down on their meat consumption in order to leave more grain for the poor. The idea that meat was a cruel profligacy became current, and led Percy Bysshe Shelley to declare that the carnivorous rich literally monopolised land and food by taking more of it than they needed. "The use of animal flesh," he said, "directly militates with this equality of the rights of man."

In the wake of last year's food crisis and with mounting concern over global warming, we appear to have reached a similar crisis moment.

Rajendra Kumar Pachauri**

The vegetarian argument is complicated, however, by the fact that in terms of environmental impact, no two pieces of meat are the same. A hunk of beef raised on Scottish moorland has a very different ecological footprint from one created in an intensive feedlot using concentrated cereal feed, and a wild venison or rabbit casserole is arguably greener than a vegetable curry. Likewise, countries have very different animal husbandry methods. For example, in the US, for each calorie of meat ordairy food produced, farm animals consume on average more than 5 calories of feed. In India the rate is a less than 1.5 calories. In Kenya, where there isn't the luxury of feeding grains to animals, livestock yield more calories than they consume because they are fattened on grass and agricultural by-products inedible to humans. In a paper published in April in the American Journal of Clinical Nutrition, food ecologist Annika Carlsson-Kanyama showed that kilo for kilo, beef and pork could produce 30 times more CO² emissions than other protein rich foods such as beans. On the other hand, the paper also indicated that poultry and eggs had much lower emissions than cheese, which was among the highest polluters. So do meat-free days, and arguments for vegetarianism in general, take adequate consideration of these subtleties, or should we all be chucking out the cheese and going vegan?

The group has called for governments to lead campaigns to reduce meat consumption by 60 per cent by 2020. Campaigners have also pointed out the health benefits of eating less meat. The average person in the UK eats 50g of protein from meat a day, equivalent to a chicken breast and a lamb chop - a relatively low level for rich nations but 25-50 per cent more than World Heath Organisation guidelines. The IPCC among other bodies, has called for an 80% reduction of greenhouse gas emissions by 2050. Since high levels of meat and dairy consumption are luxuries, it seems reasonable to expect livestock production to take its share of the hit. For rich western countries this would mean decreasing meat and dairy consumption to significantly less than one tenth of current levels, the sooner the better.

Aside from the dangerously high levels of greenhouse gases released in the atmosphere due to factory farms, there’s also the destruction of habitats and the clearing of forests for grazing. Thousands of acres in the Amazon had been destroyed for this reason.

Click here to view the facts on destruction of rainforests

The clearing of forests also have other ramifications. According to Jocelyn Stock Andy Rochen:
“To understand why deforestation is such a pressing and urgent issue, forests must first be given credit for what they bring to global ecosystems and the quality of life that all species maintain. Tropical Rainforests presently give a place to call home for 50% - 90% of all organisms, 90% of our relatives, the primates, and 50 million creatures that can live no place but the rich rainforests (World Rainforest Movement 16). Not only are other species at risk, but the human race also benefits from what the trees give. From something as minor as the spices that indulge food to life giving medicines, the rainforests amplify and save lives.” In short, we’re pretty much shooting ourselves in the foot by the way we disregard nature and the environment. 500,000 hectares vanished in a single week. At the rate we’re going, there may not be too many forests left.

**Rajendra Kumar Pachauri (born August 20, 1940, Nainital, India) is an economist who has served as the chair of the Intergovernmental Panel on Climate Change (IPCC) since 2002. Pachauri is the director general of the The Energy and Resources Institute in New Delhi, an institution devoted to researching and promoting sustainable development and the chancellor of TERI University. He is also the chairman, governing council of the National Agro Foundation (NAF), as well as the chairman of the board of Columbia University's International Research Institute for Climate and Society. He was recently awarded the second-highest civilian award in India, the Padma Vibhushan in January 2008 as well as the Padma Bhushan in January 2001. On December 10, 2007, Dr. Pachauri accepted the Nobel Peace Prize on behalf of the IPCC, along with co-recipient Al Gore.

***The Intergovernmental Panel on Climate Change (IPCC) is a scientific intergovernmental body tasked to evaluate the risk of climate change caused by human activity. The panel was established in 1988 by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP), two organizations of the United Nations. The IPCC shared the 2007 Nobel Peace Prize with former Vice President of the United States Al Gore.

****Global warming is the increase in the average temperature of the Earth's near-surface air and oceans since the mid-20th century and its projected continuation. The greenhouse effect is the heating of the surface of earth due to the presence of an atmosphere containing gases that absorb and emit infrared radiation. Greenhouse gases, which include water vapor, carbon dioxide and methane, are almost transparent to solar radiation but strongly absorb and emit infrared radiation. Thus, greenhouse gases trap heat within the surface-troposphere system.

2007 – 2009 Financial Crisis' list of Companies Bailouts and Failures

2007–2009 Financial crisis

Company bailouts

• AIG (150B USD)
• Citigroup
• Bank of America
• GM
• Chrysler (4B)
• Bailout

Company failures

• New Century Financial Corporation
• American Freedom Mortgage
• American Home Mortgage
• Bernard L. Madoff Investment Securities LLC
• Charter Communications
• Lehman Brothers
• Linens 'n Things
• Mervyns
• NetBank
• Terra Securities
• Sentinel Management Group
• Washington Mutual
• Icesave
• Kaupthing Singer & Friedlander
• Yamato Life
• Circuit City
• Allco Finance Group
• Waterford Wedgwood
• Saab Automobile
• BearingPoint
• Tweeter

The financial crisis of 2007–2009 began in July 2007 when a loss of confidence by investors in the value of securitized mortgages in the United States resulted in a liquidity crisis that prompted a substantial injection of capital into financial markets by the United States Federal Reserve, Bank of England and the European Central Bank. The TED spread, an indicator of perceived credit risk in the general economy, spiked up in July 2007, remained volatile for a year, then spiked even higher in September 2008, reaching a record 4.65% on October 10, 2008. In September 2008, the crisis deepened, as stock markets worldwide crashed and entered a period of high volatility, and a considerable number of banks, mortgage lenders and insurance companies failed in the following weeks. Although America's housing collapse is often cited as having caused the crisis, the financial system was vulnerable because of intricate and highly-leveraged financial contracts and operations, a U.S. monetary policy making the cost of credit negligible therefore encouraging such high levels of leverage, and generally a "hypertrophy of the financial sector" (financialization).

Pig Flu, Swine flu, Hog flu - understand it and protect yourself from it

Alarming facts:

current trivalent influenza vaccine is unlikely to provide protection

Detected human cases by country:

Country	Cases	Deaths
	Laboratory confirmed	Confirmed (Suspected)‡
WHO totals	25,288	139
Total	25,597	150(77)
Mexico	5,717	106 (77)
United States	12,701	37
Canada	2,115	3
Chile	890	2
Costa Rica	83	1
Dominican Republic	66	1
Australia	1,207	0
United Kingdom	557	0
Japan	438	0
Spain	291	0
Argentina	215	0
Panama	179	0
Other	1,138	0

Black : Deaths
Red : Cases

What is Swine Flu or Pig Flu ??

Swine influenza (also called swine flu, hog flu, and pig flu) is an infection of a host animal by any one of several specific types of viruses that is usually hosted by (is endemic in) pigs.

As of 2009, the known SIV strains are the influenza C virus and the subtypes of the influenza A virus known as H1N1, H1N2, H3N1, H3N2, and H2N3.

Swine influenza is common in pigs in the midwestern United States (and occasionally in other states), Mexico, Canada, South America, Europe (including the United Kingdom, Sweden, and Italy), Kenya, Mainland China, Taiwan, Japan and other parts of eastern Asia.

Signs and symptoms in pigs ??

In pigs influenza infection produces fever, lethargy, sneezing, coughing, difficulty breathing and decreased appetite, abortion, weight loss and poor growth.

Main symptoms of swine flu in swines

Signs and symptoms in humans ??

symptoms of the 2009 "swine flu" H1N1 virus are similar to those of influenza and of influenza-like illness in general.

Symptoms include fever, cough, sore throat, body aches, headache, chills and fatigue, diarrhea and vomiting.

The 2009 H1N1 virus is not transmitted from pigs to humans,
but from person to person.

Main symptoms of swine flu in humans

swine flu requires laboratory testing of a respiratory sample
(a simple nose and throat swab)
collected during the first five days

How to do prevent it's spread from swine to human ??

The transmission from swine to human is believed to occur mainly in swine farms where farmers are in close contact with live pigs.

The farmers and veterinarians are encouraged to use a face mask when dealing with infected animals.

Risk factors that may contribute to swine-to-human transmission include smoking and not wearing gloves when working with sick animals.

How to do prevent it's spread within humans ??

Influenza spreads between humans through coughing or sneezing and people touching something with the virus on it and then touching their own nose or mouth. The swine flu in humans is most contagious during the first five days of the illness although some people, most commonly children, can remain contagious for up to ten days.

Swine flu cannot be spread by pork products, since the virus is not transmitted through food.

Diagnosis can be made by sending a specimen, for analysis.

Recommendations to prevent :
frequent washing of hands with soap and water or with alcohol-based hand sanitizers, especially after being out in public. Chance of transmission is also reduced by disinfecting household surfaces, which can be done effectively with a diluted chlorine bleach solution.

Alcohol-based gel or foam hand sanitizers work well to destroy viruses and bacteria. Anyone with flu-like symptoms such as a sudden fever, cough or muscle aches should stay away from work or public transportation and should contact a doctor for advice.

Social distancing is another tactic. It means staying away from other people who might be infected and can include avoiding large gatherings, spreading out a little at work, or perhaps staying home and lying low if an infection is spreading in a community.

How to do treat it in humans ??
antiviral drugs can make the illness milder and make the patient feel better faster. They may also prevent serious flu complications. For treatment, antiviral drugs work best if started soon after getting sick (within 2 days of symptoms).

Beside antivirals, palliative care, at home or in hospital, focuses on controlling fevers and maintaining fluid balance.

Doctors recommend the use of Tamiflu (oseltamivir) or Relenza (zanamivir) for the treatment and/or prevention of infection with swine influenza viruses,

However, the majority of people infected with the virus make a full recovery without requiring medical attention or antiviral drugs.

The virus isolates in the 2009 outbreak have been found resistant to amantadine and rimantadine.

Satyam Scandal - event line summary

The Satyam Computer Services scandal was publicly announced on 7 January 2009, when Chairman Ramalinga Raju confessed that Satyam's accounts had been falsified notifying board members and the Securities and Exchange Board of India (SEBI) & resigned from his seat.

Download here the statement of
Satyam Computer Services's Chairman Ramalinga Raju
** courtsey: The Hindu

Raju confessed that Satyam's balance sheet of 30 September 2008 contained:

* inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books).
* an accrued interest of INR 376 crore which was non-existent.
* an understated liability of INR 1,230 crore on account of funds was arranged by himself.
* an overstated debtors' position of INR 490 crore (as against INR 2,651 crore in the books).

Raju claimed in the same letter that neither he nor the managing director had benefited financially from the inflated revenues. He claimed that none of the board members had any knowledge of the situation in which the company was placed.

He stated that

"What started as a marginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has attained unmanageable proportions as the size of company operations grew significantly (annualised revenue run rate of Rs 11,276 crore in the September quarter of 2008 and official reserves of Rs 8,392 crore). As the promoters held a small percentage of equity, the concern was that poor performance would result in a takeover, thereby exposing the gap. The aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones. It was like riding a tiger, not knowing how to get off without being eaten.”

Satyam logo

Aftermath:

Raju had appointed a task force to address the Maytas situation in the last few days before revealing the news of the accounting fraud. After the scandal broke, the then-board members elected Ram Mynampati to be Satyam's interim CEO. Mynampati's statement on Satyam's website said:

"We are obviously shocked by the contents of the letter. The senior leaders of Satyam stand united in their commitment to customers, associates, suppliers and all shareholders. We have gathered together at Hyderabad to strategize the way forward in light of this startling revelation."

On 10 January 2009, the Company Law Board decided to bar the current board of Satyam from functioning and appoint 10 nominal directors. "The current board has failed to do what they are supposed to do. The credibility of the IT industry should not be allowed to suffer." said Corporate Affairs Minister Prem Chand Gupta. Chartered accountants regulator ICAI issued show-cause notice to Satyam's auditor PricewaterhouseCoopers (PwC) on the accounts fudging. "We have asked PwC to reply within 21 days," ICAI President Ved Jain said.

On the same day, the Crime Investigation Department (CID) team picked up Vadlamani Srinivas, Satyam's then-CFO, for questioning. He was arrested later and kept in judicial custody.

On 11 January 2009, the government nominated noted banker Deepak Parekh, former NASSCOM chief Kiran Karnik and former SEBI member C Achuthan to Satyam's board.

Immediately following the news, Merrill Lynch (Now with Bank of America) terminated its engagement with the company.

Also, Credit Suisse suspended its coverage of Satyam.[citation needed]. It was also reported that Satyam's auditing firm PricewaterhouseCoopers will be scrutinized for complicity in this scandal.

SEBI, the stock market regulator, also said that, if found guilty, its license to work in India may be revoked.

Satyam was the 2008 winner of the coveted Golden Peacock Award for Corporate Governance under Risk Management and Compliance Issues, which was stripped from them in the aftermath of the scandal.

The New York Stock Exchange has halted trading in Satyam stock as of 7 January 2009.

India's National Stock Exchange has announced that it will remove Satyam from its S&P CNX Nifty 50-share index on January 12.

The founder of Satyam Ramalinga Raju was arrested two days after he admitted to falsifying the firm's accounts. Ramalinga Raju is charged with several offences, including criminal conspiracy, breach of trust, and forgery.

Ramalinga Raju

Satyam's shares fell to 11.50 rupees on 10 January 2009, their lowest level since March 1998, compared to a high of 544 rupees in 2008. In New York Stock Exchange Satyam shares peaked in 2008 at US$ 29.10; by March 2009 they were trading around US $1.80.

The Indian Government has stated that it may provide temporary direct or indirect liquidity support to the company. However, whether employment will continue at pre-crisis levels, particularly for new recruits, is questionable.

On 14 January 2009, Price Waterhouse, the Indian division of PricewaterhouseCoopers, announced that its reliance on potentially false information provided by the management of Satyam may have rendered its audit reports "inaccurate and unreliable".

On 22 January 2009, CID told in court that the actual number of employees is only 40,000 and not 53,000 as reported earlier and that Mr. Raju had been allegedly withdrawing INR 20 crore rupees every month for paying these 13,000 non-existent employees.

On 5th February 2009, the six-member board appointed by the Government of India named A. S. Murthy as the new CEO of the firm with immediate effect. Murthy, an electrical engineer, has been with Satyam since January 1994 and was heading the Global Delivery Section before being appointed as CEO of the company. The two-day-long board meeting also appointed Homi Khusrokhan (formerly with Tata Chemicals) and Partho Datta, a Chartered Accountant as special advisors.

In March 2009 the company announced it would begin soliciting bids from potential buyers.

On April 13, 2009, Kiran Karnik, the MD at Satyam announced that IT services provider Tech Mahindra had offered the highest bid at Rs 58 per share.

Tech Mahindra logo

Tech Mahindra will have to pay a total of Rs 2890 crore for 51% stake in Satyam. and the IT company will have a market cap of Rs 5,666 crore on expanded equity. A US-based investment firm owned by billionaire Wilbur Ross and an Indian construction and IT services firm, Larsen and Toubro were the other bidders. Cognizant Technology Solutions had expressed its interest in a joint bid with Wilbur Ross but backed out at the end.

Anand Mahindra, Chairperson Mahindra group

WHAT was SATYAM ??

Satyam Computer Services Ltd was founded in 1987 by B.Ramalinga Raju. Satyam's network covers 67 countries across six continents. The company employs IT professionals across development centers in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. It serves over 654 global companies, 185 of which are Fortune 500 corporations. Satyam has strategic technology and marketing alliances with over 50 companies. Apart from Hyderabad, it has development centers in India at Bangalore, Chennai, Pune, Mumbai, Nagpur, Delhi, Kolkata, Bhubaneswar, and Visakhapatnam.

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shoe hurled at chidambaram at Congress Press Conference

SOMETHING THAT HAD NEVER HAPPENED IN INDIA !!!!!

Tuesday, April 07, 2009, (New Delhi)

Chidambaram, who was addressing a press conference at the AICC headquarters, was surprised when suddenly Jarnail Singh, journalist from a Dainak Jagran, flung the shoe and an alert Home Minister made a quick movement to see it pass by him.

P Chidambaram (aka Palaniappan Chidambaram) (born 16 September, 1945) is an Indian politician and present Union Minister of Home Affairs of the Republic of India. He is among the most prominent cabinet ministers of the ruling United Progressive Alliance (UPA) union government led by Indian Prime Minister Manmohan Singh.

"Please take him away," said Chidambaram who later added "gently, gently" as the journalist was escorted out of the press conference hall.

Later, he was taken away by police but it was not clear whether any case has been registered against him against the backdrop of Chidambaram saying "I forgive him".

As the action caused a flutter in the hall, a composed Chidambaram appealed to the reporters, "let not the action of one emotional person hijack the entire press conference. I have answered his questions to the best of my ability."

It all started with the journalist asking him about the clean chit given by CBI to Tytler in the 1984 anti-Sikh riots case under pressure from the government.

"First of all let me make it clear that CBI is not under the Home Ministry. To my knowledge neither the Home Ministry nor any ministry of the government had put any pressure on the CBI," said Chidambaram.

"CBI has only given a report to the court. It is for the court to accept or reject or ask for further investigation by CBI. Let us wait for the court decision," said Chidambaram.

As the journalist persisted with his questions, Chidambaram told him "no arguments, you are using this forum..." following which the journalist hurled his shoe.

An unapologetic Singh said he will not apologise for his action, though his manner of protest might have been wrong.

"My manner of protest might have been wrong, but I did not intend to hurt anyone," maintained Jarnail Singh.

Asked if he could have used some other manner to protest, Jarnail said, "for the last 25 years this has been happening. So what other method is left (to protest)".

Palaniappan Chidambaram

Earlier this month, CBI had given a clean chit to 1984 anti-Sikh riots accused Tytler and sought permission from the court for the closure of the case against the Congress leader.

the aftermath

Police has taken the journalist into custody and is questioning him.

Jarnail Singh, a Sikh journalist who works at the Hindi daily Dainik Jagaran shoed Union Home Minister P. Chidambaram on 7 April 2009. Singh was dissatisfied with Chidamabaram's answer to a question on the Central Bureau of Investigation's (CBI) clean chit to Congress leader Jagdish Tytler on the 1984 anti-Sikh massacre. The 1984 anti-Sikh massacre were triggered by the assassination of Indira Gandhi on October 31, 1984, by 2 of her Sikh bodyguards. The assassination itself was in retaliation for Operation Bluestar. Over the next four days, as many as 3000 Sikhs were killed in retaliatory attacks. The most affected regions were neighborhoods in Delhi.