Thursday, August 13, 2009

Collapses-2

Talking of collapses we had this great corporate collapse (or fraud) in the beginning of the year. After all the initial chest beating settled down the fraudsters are still in jail, the company has changed hands, many employees have got pink slips, the investigation is still on and the TV channels have lost interest - it is certain that nothing will come out since something like this could not have happened without the participation of the 'powers'.

But the linked issue is that the associate company was granted huge projects by the government, running into thousands of crores - and the company had no experience at all of handling such projects. And interestingly it was for executing metro rail projects. Nobody bothers about it or questions such governmental actions. If the promoters have money and are close to the seats of power they can swing anything today. A company or individual, irrespective of capability and experience cant swing even a dead cat.