Thursday, December 18, 2008

A team of eight transplant surgeons in Cleveland Clinic in Ohio, USA, led by reconstructive surgeon Dr. Maria Siemionow, age 58, have successfully performed the first almost total face transplant in the US, and the fourth globally, on a woman so horribly disfigured due to trauma, that cost her an eye. Two weeks ago Dr. Siemionow, in a 23-hour marathon surgery, replaced 80 percent of her face, by transplanting or grafting bone, nerve, blood vessels, muscles and skin harvested from a female donor’s cadaver.

The Clinic surgeons, in Wednesday’s news conference, described the details of the transplant but upon request, the team did not publish her name, age and cause of injury nor the donor’s identity. The patient’s family desired the reason for her transplant to remain confidential. The Los Angeles Times reported that the patient “had no upper jaw, nose, cheeks or lower eyelids and was unable to eat, talk, smile, smell or breathe on her own.” The clinic’s dermatology and plastic surgery chair, Francis Papay, described the nine hours phase of the procedure: “We transferred the skin, all the facial muscles in the upper face and mid-face, the upper lip, all of the nose, most of the sinuses around the nose, the upper jaw including the teeth, the facial nerve.” Thereafter, another team spent three hours sewing the woman’s blood vessels to that of the donor’s face to restore blood circulation, making the graft a success.

The New York Times reported that “three partial face transplants have been performed since 2005, two in France and one in China, all using facial tissue from a dead donor with permission from their families.” “Only the forehead, upper eyelids, lower lip, lower teeth and jaw are hers, the rest of her face comes from a cadaver; she could not eat on her own or breathe without a hole in her windpipe. About 77 square inches of tissue were transplanted from the donor,” it further described the details of the medical marvel. The patient, however, must take lifetime immunosuppressive drugs, also called antirejection drugs, which do not guarantee success. The transplant team said that in case of failure, it would replace the part with a skin graft taken from her own body.

Dr. Bohdan Pomahac, a Brigham and Women’s Hospital surgeon praised the recent medical development. “There are patients who can benefit tremendously from this. It’s great that it happened,” he said.

Leading bioethicist Arthur Caplan of the University of Pennsylvania withheld judgment on the Cleveland transplant amid grave concerns on the post-operation results. “The biggest ethical problem is dealing with failure — if your face rejects. It would be a living hell. If your face is falling off and you can’t eat and you can’t breathe and you’re suffering in a terrible manner that can’t be reversed, you need to put on the table assistance in dying. There are patients who can benefit tremendously from this. It’s great that it happened,” he said.

Dr Alex Clarke, of the Royal Free Hospital had praised the Clinic for its contribution to medicine. “It is a real step forward for people who have severe disfigurement and this operation has been done by a team who have really prepared and worked towards this for a number of years. These transplants have proven that the technical difficulties can be overcome and psychologically the patients are doing well. They have all have reacted positively and have begun to do things they were not able to before. All the things people thought were barriers to this kind of operations have been overcome,” she said.

The first partial face transplant surgery on a living human was performed on Isabelle Dinoire on November 27 2005, when she was 38, by Professor Bernard Devauchelle, assisted by Professor Jean-Michel Dubernard in Amiens, France. Her Labrador dog mauled her in May 2005. A triangle of face tissue including the nose and mouth was taken from a brain-dead female donor and grafted onto the patient. Scientists elsewhere have performed scalp and ear transplants. However, the claim is the first for a mouth and nose transplant. Experts say the mouth and nose are the most difficult parts of the face to transplant.

In 2004, the same Cleveland Clinic, became the first institution to approve this surgery and test it on cadavers. In October 2006, surgeon Peter Butler at London‘s Royal Free Hospital in the UK was given permission by the NHS ethics board to carry out a full face transplant. His team will select four adult patients (children cannot be selected due to concerns over consent), with operations being carried out at six month intervals. In March 2008, the treatment of 30-year-old neurofibromatosis victim Pascal Coler of France ended after having received what his doctors call the worlds first successful full face transplant.

Ethical concerns, psychological impact, problems relating to immunosuppression and consequences of technical failure have prevented teams from performing face transplant operations in the past, even though it has been technically possible to carry out such procedures for years.

Mr Iain Hutchison, of Barts and the London Hospital, warned of several problems with face transplants, such as blood vessels in the donated tissue clotting and immunosuppressants failing or increasing the patient’s risk of cancer. He also pointed out ethical issues with the fact that the procedure requires a “beating heart donor”. The transplant is carried out while the donor is brain dead, but still alive by use of a ventilator.

According to Stephen Wigmore, chair of British Transplantation Society’s ethics committee, it is unknown to what extent facial expressions will function in the long term. He said that it is not certain whether a patient could be left worse off in the case of a face transplant failing.

Mr Michael Earley, a member of the Royal College of Surgeon‘s facial transplantation working party, commented that if successful, the transplant would be “a major breakthrough in facial reconstruction” and “a major step forward for the facially disfigured.”

In Wednesday’s conference, Siemionow said “we know that there are so many patients there in their homes where they are hiding from society because they are afraid to walk to the grocery stores, they are afraid to go the the street.” “Our patient was called names and was humiliated. We very much hope that for this very special group of patients there is a hope that someday they will be able to go comfortably from their houses and enjoy the things we take for granted,” she added.

In response to the medical breakthrough, a British medical group led by Royal Free Hospital’s lead surgeon Dr Peter Butler, said they will finish the world’s first full face transplant within a year. “We hope to make an announcement about a full-face operation in the next 12 months. This latest operation shows how facial transplantation can help a particular group of the most severely facially injured people. These are people who would otherwise live a terrible twilight life, shut away from public gaze,” he said.

Thursday, May 13, 2010

Wikinews reporter Iain Macdonald has performed an interview with Dr Isabella Margara, a London-based member of the Communist Party of Greece (KKE). In the interview Margara sets out the communist response to current events in Greece as well as discussing the viability of a communist economy for the nation. She also hit back at Petros Tzomakas, a member of another Greek far-left party which criticised KKE in a previous interview.

The interview comes amid tensions in cash-strapped Greece, where the government is introducing controversial austerity measures to try to ease the nation’s debt-problem. An international rescue package has been prepared by European Union member states and the International Monetary Fund – should Greece require a bailout; protests have been held against government attempts to manage the economic situation.

Saturday, November 4, 2006

On November 13, Torontonians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is Don Valley East (Ward 33). One candidates responded to Wikinews’ requests for an interview. This ward’s candidates include Zane Caplan, Shelley Carroll (incumbent), Jim Conlon, Sarah Tsang-Fahey, and Anderson Tung.

For more information on the election, read Toronto municipal election, 2006.

Friday, June 16, 2006

Former American Idol winner Ruben Studdard has won a lawsuit and $2 million against his ex-manager Ronald W. Edwards and Edwards’ promotions company, Sez Inc. The lawsuit was for misappropriating the singer’s money and credit cards. The suit claimed Edwards misused more than $246,000 of the singer’s money. According to the judge’s ruling, Edwards stole money from Studdard’s checking and other bank accounts, improperly used his credit cards and even used Studdard’s money to repay a $10,000 bank loan.

Jefferson County Circuit Judge Scott Vowell awarded Studdard $500,000 for actual losses and another $1.5 million in punitive damages. Vowell dismissed Edwards’ promotions company from the suit because it was bankrupt and had no money or assets. Edwards filed a petition for Chapter 7 bankruptcy on June 17, 2005. Studdard has sold 2.2 million records, but because of the damage done to his credit by Edwards, it is now even hard for Ruben to buy a home, said Vowell.

Saturday, March 28, 2009

Almost 100 cats and one dog were found living in a feces- and filth-ridden New Jersey house, in what local authorities are calling among the worst cases of animal cruelty they have ever seen.

Authorities had to wear masks in order to help them breathe through the stench of urine as they removed cats from the million-dollar, two-story brick house in Chester Township.

“The conditions were absolutely horrific,” said Rick Yocum, a lieutenant with the New Jersey Society for the Prevention of Cruelty to Animals. “There wasn’t one inch of that house that wasn’t covered in feces or urine. There were three foot piles of feces in the hallways.

Wanda Oughton, the homeowner who lives there with two adult children, is expected to face criminal and civil charges, possibly as early as this weekend.

According to media reports, the floors, couches and tables of the home were littered with waste, and garbage was crammed into microwaves and ovens. The bottom of a bathtub had an eight-inch mound of feces, authorities said.

“It was horrible to go in there,” SPCA spokesman Matt Stanton said. “Our people had to fill their nostrils with Vick’s VapoRub and wear masks. They could only go in for five minutes at a time and had to come out to get fresh air again.”

Oughton refused to leave the house during the initial investigation and declined to speak to reporters.

“Go away. Go away. We have a call in to the police,” two women yelled at reporters through the front door.

SPCA officials believe Oughton and her family to be animal hoarders, not “horrible people”, said SPCA Superintendent Frank Rizzo.

“For hoarders, the animal is the most important thing,” Rizzo said. “More important than their own health.”

Yocum said they plan to ask Oughton to undergo a mental health assessment.

About 20 cats were removed from the house Thursday and are being treated for upper respiratory problems. The remaining cats are to be taken out Friday, and will be distributed to different veterinarians so no one office is too overwhelmed.

Monday, December 31, 2007

What would you tell your grandchildren about 2007 if they asked you about it in, let’s say, 20 year’s time? If the answer to a quiz question was 2007, what would the question be? The year that you first signed on to Facebook? The year Britney Spears and Amy Winehouse fell apart? The year author Kurt Vonnegut or mime Marcel Marceau died, both at 84?

Let’s take a look at some of the international stories of 2007. Links to the original Wikinews articles are in bold.

Wednesday, December 31, 2008

What would you tell your grandchildren about 2008 if they asked you about it in, let’s say, 20 years’ time? If the answer to a quiz question was 2008, what would the question be? The year that markets collapsed, or perhaps the year that Obama became US president? Or the year Heath Ledger died?

Let’s take a look at some of the important stories of 2008. Links to the original Wikinews articles are in all the titles.

Friday, May 16, 2008

Controversy has arisen over the reported presence of blue asbestos on the MV Freewinds, a cruise ship owned by the Church of Scientology. According to the Saint Martin newspaper The Daily Herald and the shipping news journal Lloyd’s List, the Freewinds was sealed in April and local public health officials on the Caribbean island of Curaçao where the ship is docked began an investigation into the presence of asbestos dust on the ship. Former Scientologist Lawrence Woodcraft supervised work on the ship in 1987, and attested to the presence of blue asbestos on the Freewinds in an affidavit posted to the Internet in 2001. Woodcraft, a licensed architect by profession, gave a statement to Wikinews and commented on the recent events.

According to The Daily Herald, the Freewinds was in the process of being renovated by the Curaçao Drydock Company. The article states that samples taken from paneling in the ship were sent to the Netherlands, where an analysis revealed that they “contained significant levels of blue asbestos”. An employee of the Curaçao Drydock Company told Radar Online in an April 30 article that the Freewinds has been docked and sealed, and confirmed that an article about asbestos ran in the local paper.

Lloyd’s List reported that work on the interior of the Freewinds was suspended on April 27 after health inspectors found traces of blue asbestos on the ship. According to Lloyd’s List, Frank Esser, Curaçao Drydock Company’s interim director, joined Curaçao’s head of the department of labor affairs Christiene van der Biezen along with the head of the local health department Tico Ras and two inspectors in an April 25 inspection of the ship. “We are sending someone so that they can tell us what happened, where it came from, since when it has been there,” said Panama Maritime Authority’s director of merchant marine Alfonso Castillero in a statement to Lloyd’s List.

The Church of Scientology purchased the ship, then known as the Bohème, in 1987, through an organization called Flag Ship Trust. After being renovated and refitted, it was put into service in June 1988. The ship is used by the Church of Scientology for advanced Scientology training in “Operating Thetan” levels, as well as for spiritual retreats for its members. Curaçao has been the ship’s homeport since it was purchased by the Church of Scientology.

According to his 2001 statement, Lawrence Woodcraft had been an architect in London, England since 1975, and joined Scientology’s elite “Sea Organization” (Sea Org) in 1986. He wrote that he was asked by the Sea Org to work on the Freewinds in 1987, and during his work on the ship “noticed a powdery blue fibrous substance approximately 1 ½” thick between the paint and the steel wall,” which he believed to be asbestos. He also discovered what he thought was blue asbestos in other parts of the ship, and reported his findings to Church of Scientology executives. Woodcraft discussed his experiences in a 2001 interview published online by the Lisa McPherson Trust, a now-defunct organization which was critical of the Church of Scientology.

Church of Scientology spokeswoman Karin Pouw responded to Radar Online about the asbestos reports, in an email published in an article in Radar on May 1. “The Freewinds regularly inspects the air quality on board and always meets or exceeds US standards,” said Pouw. She stated that two inspections performed in April “confirmed that the air quality is safe,” and asserted that the inspections revealed the Freewinds satisfies standards set by the United States Occupational Safety and Health Administration and the U.S. Clean Air Act.

Pouw told Radar that “The Freewinds will be completing its refit on schedule.” The Church of Scientology-affiliated organization Citizens Commission on Human Rights (CCHR) had been planning a cruise aboard the Freewinds scheduled for May 8, but according to Radar an individual who called the booking number for the cruise received a message that the cruise had been delayed due to ongoing work on the ship. Citing an article in the Netherlands Antilles newspaper Amigoe, Radar reported on May 6 that a team from the United States and supervised by an independent bureau from the Netherlands traveled to Curaçao in order to remove asbestos from the Freewinds.

“I stand by everything I wrote in my 2001 affidavit,” said Lawrence Woodcraft in an exclusive statement given to Wikinews. Woodcraft went on to state: “I would also comment that if the Church of Scientology claims to have removed the blue asbestos, I just don’t see how, it’s everywhere. You would first have to remove all the pipes, plumbing, a/c ducts, electrical wiring etc. etc. just a maze of stuff. Also panelling as well, basically strip the ship back to a steel hull. Also blue asbestos is sprayed onto the outer walls and then covered in paint. It’s in every nook and cranny.”

Many Scientologist celebrities have spent time aboard the Freewinds, including Tom Cruise, Katie Holmes, John Travolta, Kelly Preston, Chick Corea, Lisa Marie Presley, Catherine Bell, Kate Ceberano, and Juliette Lewis. Now magazine reported that Tom Cruise has been urged to seek medical attention regarding potential asbestos exposure, however a representative for Cruise stated he has “absolutely no knowledge” of the recent asbestos controversy. Cruise, Holmes, Travolta and Preston have celebrated birthdays and other events on the Freewinds.

In a May 15 statement to the United Kingdom daily newspaper Metro, a representative for the Church of Scientology said that “There is not now and never has been a situation of asbestos exposure on the Freewinds.” The Asbestos and Mesothelioma Center notes that agencies have recommended anyone who has spent time on the Freewinds consult with their physician to determine if possible asbestos exposure may have affected their health.

Raw blue asbestos is the most hazardous form of asbestos, and has been banned in the United Kingdom since 1970. Blue asbestos fibers are very narrow and thus easily inhaled, and are a major cause of mesothelioma. Mesothelioma is a form of cancer which can develop in the lining of the lungs and chest cavity, the lining of the abdominal cavity, or the pericardium sac surrounding the heart. The cancer is incurable, and can manifest over 40 years after the initial exposure to asbestos.

“This is the most dangerous type of asbestos because the fibres are smaller than the white asbestos and can penetrate the lung more easily,” said toxicologist Dr. Chris Coggins in a statement published in OK! Magazine. Dr. Coggins went on to note that “Once diagnosed with mesothelioma, the victim has six months to a year to live. It gradually reduces lung function until the victim is no longer able to breathe and dies.”

Friday, September 27, 2013

Tuesday, World Bank released the 2012 World Development Report on Gender Equality and Development. The United States is referred to many times, often as a benchmark to foster understanding of recent gains for women in other parts of the globe. At the same time, United States women still lag behind US men in a number of areas.

In 2012, the authors note women in the United States still face challenges economically and socially. They are represented disproportionately in certain professions like teaching and nursing. They are paid less than their male counterparts. Jobs traditionally held by women also result in lower wages for men who hold these jobs. They are under-represented at the highest level of business, with only 28 of Fortune 1000 companies having a female chief executive officer. The bottom 20% of women economically have a slightly higher birth rate than their peers in the top 20%.

Immigrants to the United States from Southeast Asia and India have higher than expected male to female birth ratios, which the report authors suggest is partially deliberate sex selection based on cultural attitudes from home countries. In 2009, over half a million US women were victims of intimate partner violence. The report suggests US men have greater pension assets than US women. When compared to elderly US men, elderly women in the United States are more likely to live alone than with a spouse. US women are disproportionately under-represented in local police forces, accounting for less than 20% of all police officers. Women in the United States also bear a higher percentage of housework duties than men at 61%. When US women take part time work while raising children, they find it difficult to use that work experience to gain future full time employment. US women are disincentivized from re-entering the workforce after giving birth because of the high cost of childcare.

Many of the gains for United States women took place a while ago and took a long time to get. It took 40 years, 1870–1910, to see major improvements in the percentage of girls aged 6 to 12 attending school. In 1921, after women got the right to vote in the United States, the United States Congress passed the Promotion of the Welfare and Hygiene of Maternity and Infancy Act. This assisted in lowering infant mortality from 23% to 15%.

The report says affirmative action in the United States resulted in jobs transferring from men to women, but the authors hedged and did not draw a conclusion about the economic impact of these legislative efforts other than to say the impact was not negative.

Many of the legislative victories for United States women came early compared to developing countries. Property rights for women, while later than some of their European counterparts like Norway and the United Kingdom, started to come by 1848. That year, the Married Women’s Property Act was passed in New York. It was the first legislation of its kind in the country. Other states soon followed. Women got suffrage on a state-by-state level in the country until they got federal suffrage in 1920. Title VII of the Civil Rights Act of 1964 barred discrimination against women and allowed married women to make loans without their husband’s consent. In 1980, airlines were barred from discriminating against flight attendances for their marital status during the hiring and firing stage.

The number of United States respondents agreeing with the proposition “a university education is more important for a boy than for a girl” decreased from about 14% in the period between 1994 and 1999 to about about 9% in the period between 2005 and 2007. Similarly, the number of people who agreed with “when jobs are scarce, men should have more right to a job than women” decreased from 19% to about 8% over the same period.

The report cites current research from the United States and England showing the more education a mother has, the better the outcomes for her children will be.

Currently in the United States, females academically outperform their male counterparts in all academic areas including [[mathematics|math] and science. On the Programme for International Student Assessment math test though, US boys tested better than US girls by a score of roughly 495 to 480. US girls outperform boys on the literacy test with mean scores of approximately 510 to 490. In this regard, the report suggests US girls’ performance patterns resemble global ones.

Mali’s percentage of girls in primary school is equivalent to the United States in 1810 at around 34%. Burkino Faso is worse, matching the United States in 1780 with a percentage of roughly 25%. Niger’s current enrollment for girls is around 50%, around the same percentage as the United States in 1900.

Monday, January 12, 2009

Byrraju Ramalinga Raju, founder and chairman of Satyam Computer Services, and his brother, B. Rama Raju, the company’s managing director, were arrested late Friday by Andhra Pradesh police. The brothers were placed under judicial custody in a Hyderabad, India jail and will remain there until January 23. Facing charges of criminal breach of trust (Section 406 of IPC), criminal conspiracy (Section 120-B), cheating (Section 420), falsification of records and forgery (Section 468), and fraudulent cancellation of securities (Section 477-a), they face up to ten years imprisonment if convicted.

After 18 hours of interrogation by the Crime Investigation Department (CID) at the state police headquarters, the Raju brothers were sent to the Chanchalguda prison and slept Saturday night on the floor along with 26 other low-risk inmates.

S. Bharat Kumar, the Rajus’s lawyer, asked the magistrate to issue orders for health monitoring. “His blood pressure is fluctuating and he needs medical treatment,” said Bharat Kumar. Mr. Raju appeared before the court Saturday while a team of doctors visited him after he had complained of chest pain.

Raju has Hepatitis-C, and both brothers have high blood pressure, so health precautions are necessary while imprisoned. Prison rules mandate service of jail food thrice a day. The menu includes 650 gm of rice thrice a day with 250 gm of vegetable curry and 125 gm of ‘daal’ plus tea twice a day.

Satyam’s chief financial officer Vadlamani Srinivas, who was also arrested Saturday, had undergone preliminary investigation and appeared Sunday before a special court, according to A. Sivanarayana, Andhra Pradesh additional director general of police. Srinivas was remanded to judicial custody until January 23 by Mr. D. Ramakrishna, Sixth Chief Metropolitan Magistrate, and sent to the Chanchalguda jail with the Raju brothers after interrogation by CID’s Crime Branch (the CB-CID). During his Saturday night arrest and probe by CB-CID, Srinivas made revelations which are contained in his confession letter as submitted to Network 18. “According to me fixed deposits are unreal and fictitious which were managed and was an understanding between the audit section management,” Srinivas stated.

The Hyderabad court on Monday postponed the bail hearings of the Raju brothers and Srinivas to January 16. To be defended by a battalion of 25 lawyers, the three accused will remain in Chanchalguda Central Jail until further court order. The Raju brothers were shifted Sunday to a mid-size Old Hospital Barrack cell shared with a bootlegger.

In 2008, the company struggled to purchase two infrastructure companies founded by family members of company founder and CEO Dr. Raju – Maytas Infrastructure and Maytas Properties – for $1.6 billion, despite concerns raised by independent board directors. Dr. Raju tendered his resignation on January 7 after due notice of falsified accounts to board members and the SEBI.

Since January 7 when two lawsuits were commenced, dozens of other class action law suits were filed against Satyam for hundreds of millions of dollars damages based on fraud in the United States District Court for the Southern District of New York in Manhattan, among others. The securities fraud class-action lawsuits have been filed on behalf of investors who bought Satyam American Depositary Receipts (ADRs) since 2004.

On Wednesday Dr. Raju admitted to falsifying and overstating Satyam’s cash reserves by $1B US dollars (£661m) or 94% of its cash and bank balances on books at the end of September.

The fraud was perpetrated several years ago to bridge “a marginal gap” between actual and accounting books operating profits, and continued for several years. “It was like riding a tiger, not knowing how to get off without being eaten,” B. Raju said.

In a letter to the board, Dr. Raju said that neither he nor the managing director had benefited financially from the inflated revenues. Further claiming that none of the board members had any knowledge of the dire company situation, he noted that Satyam’s balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). He alleged it also carried an accrued interest of INR 376 crore which was non-existent. He confessed that he himself prepared an understated liability of INR 1,230 crore on account of funds amid an overstated debtors’ position of INR 490 crore (as against INR 2,651 crore in the books).

Indian analysts have compared the Satyam-Raju scandal to the infamous American Enron scandal. Immediately following the media expose, PricewaterhouseCoopers, auditor of Satyam’s accounts, was set to be probed for complicity in the controversy. Times Now has reported that the Andhra Pradesh CID arrested PricewaterhouseCoopers (PWC) representative Gopal Krishnan for investigation on Saturday night.

New York-listed Satyam Computer Services Ltd., India’s fourth-biggest software firm, is a consulting and information technology services company based in Hyderabad, India. Founded in 1987 by Dr. Byrraju Ramalinga Raju, Satyam’s network spans 67 countries on six continents. It employs 53,000 professionals in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. Its monthly salary outflow is estimated at six billion rupees ($125 million). Deriving more than half of its revenues from the United States, it serves 700 global companies, 185 of which are Fortune 500 corporations.

Satyam’s clients include Nestle, Ford, General Electric Co., General Motors Corp., Nissan Motor Co., Applied Materials Inc., Caterpillar Inc., Cisco Systems Inc. and Sony Corp., and brought in about $40bn last year.

In December 2008, a failed acquisition attempt involving the company Maytas led to a plunge in Satyam’s share price. After Wednesday’s confession, Satyam stocks fell further by more than 70%, while the BSE SENSEX dropped to 7.3% Wednesday, causing the removal of Satyam Computer Services from its indices on Thursday. The shares free fell to 11.50 rupees on Friday, their lowest level since March 1998, compared with around last year’s high of 544 rupees.

The New York Stock Exchange has terminated trading in Satyam stock as of January 7, while the National Stock Exchange of India said it will remove Satyam from its S&P CNX Nifty 50-share index from January 12.

India’s biggest-ever corporate fraud has seriously tainted India Inc.‘s strong corporate governance image. “The admission of fraud in financial affairs has created an adverse impression in the minds of trade, business and industry across the world,” the Indian government admitted. The government intervened on Friday night, dismissing Satyam’s board of directors, announcing it will appoint representatives to manage the affairs of the insolvent outsourcing giant. The board would meet within seven days. Dr Yeduguri Samuel Rajasekhara Reddy, chief Minister of State of Andhra Pradesh, India, on Sunday said that the main agenda is to protect the jobs of the software professionals. “We are taking all needful steps in coordination with the government of India to ensure that the jobs of 53,000 engineers are protected and the shareholders’ money is salvaged,” Reddy said.

“We are working on the names. The Satyam case is an aberration. The credibility of the Indian corporate sector in general, and IT sector in particular, should not be allowed to suffer because of this.” Prem Chand Gupta, the Corporate Affairs Minister said. The Federal Government of India appointed a three-member independent board with full authority for Satyam on Sunday and was set to convene within 24 hours. “We have appointed Deepak Parekh, chairman of Housing Development Finance Corporation, Kiran Karnik, former president of IT industry body NASSCOM and C. Achutan, former member of Securities and Exchange Board (SEBI) of India,” Mr. Gupta said.

In early Monday trading (0535 GMT) after the creation of the three-member board, Satyam shares rocketed upwards 60% to 38.15 rupees, even though the main Mumbai market was down more than 2%. BBC reported that Satyam shares have jumped 51% to 36.05 rupees on Monday after the stock lost 87% last week. “The constitution of the new board is seen as a positive step by the market. It’s a confidence boosting measure,” K.K. Mital, Globe Capital, New Delhi head of portfolio management services said. “But the rally will depend largely on the financial situation at the company and the kind of measures that are taken to improve liquidity,” he added.

The Company Law Board, however, has requested Satyam’s interim board not to implement its decisions. “We are asked by the Company Law Board not to implement the decisions of the board. But we are allowed to continue our activity. The team which was constituted recently is continuing its work,” Satyam head global marketing and communications, Mr. Hari Thalapalli, said.

Lazard Ltd., who has a 7.4% stake in Satyam, sought representation on the new board and wrote as much to The Indian Ministry of Corporate Affairs. “As the largest shareholder in the company, we want to be consulted in whatever decisions are being taken by the Indian government. We have written to the Ministry of Corporate Affairs and are awaiting a reply from them,” Hitesh Jain, a partner at ALMT Legal, who claimed to represent Lazard, said. “It is a fair proposal and we will take a decision as and when we clear other issues. No decision on this has been taken yet,” P.C. Gupta replied.

Meanwhile, the Securities and Exchange Board of India (SEBI) also announced it will try to control the damage and take steps to boost investor confidence. “This exercise will be undertaken after the third quarter results and is expected to be completed by end of February this year,” a SEBI official statement said. A SEBI team is also investigating acting-CEO Ram Mynampati whose salary was greater than that of founder Dr. Raju and all the directors combined. Dr. Raju had just one fifth of Mynampati’s total package of over Rs 3.5 crore as of March 2008. All the directors comparably received only a total of Rs 2.6 crore as salary, commissions, sitting fees, professional fees and other receivables.

Further, the Andhra Pradesh Police CID and teams assigned by the Economic Offences Wing of the CB-CID conducted searches Sunday of homes of the accused including the ex-CFO’s office to gather documentary evidence about the financial fraud.