Word: boarding
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...public company is sick, does the board have to tell the world? How sick? Life-threatening? Enough to keep the person out of work for an extended period...
...Bank of America's purchase of Merrill Lynch could be the ruin of this bank. The bad assets of the brokerage firm were apparently both huge and well-hidden by management, the brokerage firm's board, or the auditors. The most charitable view of the people in charge at Merrill is that they were boobs. Anything beyond that starts to point a finger in the direction of liability and shareholder suits...
...Given the uncertainty, there have been reports of business rivals trying to poach Satyam's employees and customers, which could make it harder for the company, which is suffering a cash squeeze, to continue operating. The government has stepped in and appointed a new board consisting of heavyweights from India's corporate sector, but officials say a bailout is not needed. Satyam is seeking bank loans to help cover salaries and other operating expenses as it tries to regain its balance...
...Many employees are choosing to stay put. "Changing jobs right now is not on my mind," says Imran Sayeed, 30, a software engineer with Satyam. "The slowdown has impacted the job market, and I don't see any immediate problem with Satyam given the recent developments with the board." Some employees say they're staying out of loyalty to the company. "I can't deny that I'm in a dilemma," says D. Ramesh Krishnan, another software engineer. "I have been with Satyam for 10 years ... I feel a certain affiliation to the organization. But I also worry about...
...Monday, Indian newspapers reported that the board may appoint investment banks to explore the possibility of finding a buyer for Satyam. Since then, board member Tarun Das has said the company was approached by a potential buyer. Board members insist the company has solid cash flow and can continue. Yet with fresh revelations about Raju's alleged malfeasance surfacing every day - the latest, that he deleted all his e-mails from his final month as CEO - there are fears that the company's liabilities may be so high that it may be forced to fold...