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Selling the Intangible…

January 9, 2009
by

Who could have imagined that one fine day, we would put a price tag on even the intangible things in life! As days go by, the aftermath of the Satyam incident is beginning to surface and in a big way. Here’s how the life has changed in the past 48 hours, economically….

1. Banks : Banks have lost trust…this was a major blow to everyone…and for every big transaction like approving a loan, the banks are thinking twice!

2. Credit Card Limit: Most of the Credit Card companies have lowered the balance by almost Rs.20000, further bringing the withdrawal limit to Zero in many cases.

3. Affect on Businesses: The businesses of numerous shopkeepers(in Hyderabad) especially in areas where majority of Satyam employees reside is going to take a huge blow. I am not sure if you can actually see this impact right now, but will definitely be an issue in the days to come.

4. Affect on Entertainment Industry: Malls, Cinema Halls, Restaurants, Pubs are going to be drastically impacted!

5. Real Estate: With many people who had plans of buying plots/flats will reconsider their plans now. Also the rental prices in many areas will take a hit.

6. Loan Repayment and EMIs: I expect to see a major disruption in this hour of crisis. A private bank has lend loans to the tune of Rs.500 crores to thousands…no wonder, some heads must be really reeling now!

7. Transportation: Three Wheelers could have the direct impact in the coming few days. Cabs business could face a huge uphil task to stay in profits!

8. Infrastructure: Many vendors who depend on Satyam for their income will occupy a considerable share in the pie. Also the under utilisation of existing office spaces will lead to additional costs.

9. Loss of Ethics and Morality: As day by day, the newspapers and newschannels try to vie for a larger share in the process of slandering and libeling, there will arise a situation of void. You really cannot be occupied by one thing the whole day…the TRP ratings are going to take a hit thereby affecting the balancesheet. Also, this enthusiasm in indulging in slandering in the hour of crisis, will lead to an introspection about how honest and truthful we were in reporting the incident from all angles. Remember, there is never a single side to a coin…

10. Collapse and Chaos: With the general and state elections just around the corner, the governments cannot take this issue like any other incident in the past. The losses incurred by investors and FIIs are huge! Something has to be done to put a check to this incident.

And I thought, it’s impossible to sell or market intagible assets like Trust, Faith, Honesty. Till now, the world has had the opinion that we are human and overnight lots of things seem to have changed. I can sense it everytime I see someone staring at my id-card!

Wake Up people before it’s too late! We are still humane…we will always be humane.

Amen,

Hemanth

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