Friday, January 09, 2009

Déjà vu

Over the past year every time I found the newspapers report something bad for the TATA group, it seemed like "Hey, didn't I read that few days back?" The poor company has had so many mishaps last year - The issue at Singur resulting in increase cost and also delay in the release of the Nano; the acquisition of Citigroup's BPO arm just before Citigroup lost its steam; the acquisition of the land rover and Jaguar which aren't doing well; and the bomb at the Taj Mahal hotel. And just when I thought that the New Year will turn out to be good for the Tatas, the news on Satyam comes out. Wait, the Tatas own TCS and not Satyam, right? Yes, that's true. But the Tatas own another firm, Tata AIG insurance. Guess who is the primary insurer providing Directors and Officiers liability insurance to Satyam? Déjà vu?

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