Friday, January 16, 2009

This is not America

India's Satyam faces lawsuits, issues action plan

NEW YORK (MarketWatch) -- Top executives at Satyam Computer Services Ltd. vowed Thursday to restore confidence among investors and customers, as two class-action lawsuits were filed against the Indian software giant after its founder admitted to inflating its balance sheet by more than $1 billion.

Founder Arrested,

Board Out at Satyam

I mean in the USA, that gets you a double dose of TARP money.

This funny little stock kept on showing up on my lists in my Investools searches for good stocks but I never bit. I hate to say this .. but here's what cross ed my mind, "Whoa, a high tech high this crappy market..what? They are from India ... FORGET IT.

I mean doesn't the chart look a little smooth (except) the January "correction" compared to their direct competitor or any other stock on the planet?

There was another one ... Mindray Medical from China ..... no thanks they probably repackage nuclear waste and sell it as a pharmaceuticals.

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