why cheer the Reliance settlement??

I am perplexed by the way everyone from the finance minister to the lay investor on the street is cheering the Reliance settlement. Nobody has stopped to ask at what cost is it to the non-promoter shareholders.

The board of Reliance seems to exist just to execute the promoters thoughts, which is indeed very sad when you realise that Reliance is India largest private sector company.

There are tremendous synergies between Reliance and Reliance Energy. Public Sector petroleum players desperately want get to the energy sector and Reliance wants to give up that area!

In the short term, the market is cheering the settlement - In the long term things could be different.

Meanwhile, i am reminded of an old friends question.

Who would you prefer to employ. An honest person with a medium level of effeciency or an dishonest but highly effiecient person, who even after skimming something off, will still give you a better output.

The market, without doubt, seems to prefer the second. But i think a better option is to search for the honest and highly effecient person!