JPMorgan Chase to Increase India Outsourcing 25%

Businessweek ^ | March 9, 2009 | Pankaj Mishra

[driftdiver]

The second-biggest bank of the US, JP Morgan Chase, which acquired Washington Mutual and Bear Stearns recently, will increase its outsourcing to India by 25% this year to nearly $400 million. It will also manage the integration of the acquired companies from India to bring down the cost of integrating different information technology (IT) systems.

Right now, JP Morgan outsources $250-300 million worth of IT and back-office projects every year to Cognizant, TCS and Accenture, apart from to its own captive centre in Mumbai.

[driftdiver]

“This is importing a service, not exporting jobs, or else we could also say we are exporting jobs when we buy a German car, a Japanese TV set or a Scotch bottle of whisky.”

Boy you’ve really swallowed it hook line and sinker.

[Cronos]

Nope, you’re just denying the fact that importing a service is the same as importing a good. If one says that getting a service (say a tech helpline) from Canada or Argentina or India is “exporting jobs”, then buying a Scotch whisky, German car, Japanese television, etc. is exporting Bourbon/US Automaker/US electronic maker jobs.

[driftdiver]

lets see, they get the money, the knowledge, and the work. Nope no import there. just the export of American dollars, jobs and know how.

[Cronos]

Services and goods -- both are tradeable globally, whether you import a good (like a German car, Japanese TV set) or a service (tech help from buenos Aires, Chile or India).

lets see, they get the money, the knowledge, and the work. Nope no import there. just the export of American dollars, jobs and know how.

Take a German car imported into the US -- the Germans get the money and the work. They get the 'export of American dollars', the 'export of American jobs' and the 'know-how to make a car'.

that's just the same as a service imported.

[driftdiver]

Spoken like a true globalist.

Do you just sign your paychecks over to the hague or are they the ones writing them?

[Cronos]

Do you own a German car, a Japanese / Korean TV, CD player, Blu-ray player, a Sony PS2? Do you own or have bought any goods made in China or Japan or Bangladesh or France or Italy? IF yes, then you are a globalist too -- buying a product imported from overseas is the same as buying a service imported from overseas.

If you disagree, prove that a piece of goods imported is not the same as a service imported. If you can't or don't prove that, then you agree that a product imported from overseas is the same as a service imported from overseas -- both support jobs overseas and so both, according to your definition would be "exporting jobs"

[Cronos]

So, to warm up to my theme — if anyone buys a foreign made product, they’re in the same category as someone who gets a service from overseas.

[driftdiver]

So using your logic we should just outsource every single job and product that way we can get things really cheap.

We don’t need an economy here. We can get rich tradin hats to each other.

[Cronos]

So using your logic we should just outsource every single job and product that way we can get things really cheap.

Nope, you're extrapolating. I asked you -- have you bought a German made or Japan-made or china-made or korea-made or french-made product (Car, TV, radio, cd player, game player, toy, clothes, wine etc.)?

A simple yes or no question


If you have bought this imported product, then, effectively, by YOUR logic, you have exported the job (of making cars, electronics, toys, wine etc) to that country that made the product.

That is exactly the same as someone who imports a service.

So, if you say that a person who imports a service is "exporting jobs", then a person who imports a product is also "exporting jobs".

If you don't use foreign-made products, then good for you, you're true to your conviction that buying products or goods made outside the US is tantamount to "exporting jobs". however, if you do buy a product that is made outside the US, you can't point fingers at a person or corporation who imports a service from outside the US -- that (importing a service or a product) is one and the same thing. If you don't agree with THAT statement, disprove it.

[driftdiver]

Nice try, you’ve stated you support outsourcing. Enough said.

I support keeping jobs in America, money in America, and our knowledge in America.

Big American companies are increasingly controlled by foreign nationals. Those same company’s are transferring our wealth out of America while using their American company status to impact elections.

JPMorgan is a perfect example of this.

[Cronos]

Nice try, you’ve stated you support outsourcing. Enough said.

Really, where did I say that? I asked you -- have you bought a German made or Japan-made or china-made or korea-made or french-made product (Car, TV, radio, cd player, game player, toy, clothes, wine etc.)?

It's a simple yes or no question

If you answer Yes, then you do support outsourcing -- buying a product made outside the US is a case of outsourcing product development, just like using a service from outside the US is a case of outsourcing services.

You say "I support keeping jobs in America, money in America, and our knowledge in America." -- good, so do I. If you really do mean this then you will not have bought any goods, wines, fruits manufactured, made etc outside the US and you will support US manufacturing as much as you support US services.

Big American companies are increasingly controlled by foreign nationals. Those same company’s are transferring our wealth out of America while using their American company status to impact elections. JPMorgan is a perfect example of this.

Really? The CEO of J is an American as are it's board of executives. Prove your statement that it is controlled by foreign nationals.

[Cronos]

And, you still haven't answered my question

I asked you -- have you bought a German made or Japan-made or china-made or korea-made or french-made product (Car, TV, radio, cd player, game player, toy, clothes, wine etc.)?

A simple yes or no question

If you have bought this imported product, then, effectively, by YOUR logic, you have exported the job (of making cars, electronics, toys, wine etc) to that country that made the product.

That is exactly the same as someone who imports a service.

So, if you say that a person who imports a service is "exporting jobs", then a person who imports a product is also "exporting jobs".

If you don't use foreign-made products, then good for you, you're true to your conviction that buying products or goods made outside the US is tantamount to "exporting jobs". however, if you do buy a product that is made outside the US, you can't point fingers at a person or corporation who imports a service from outside the US -- that (importing a service or a product) is one and the same thing. If you don't agree with THAT statement, disprove it.

[Cronos]

And, once more --> If one says that getting a service (say a tech helpline) from Canada or Argentina or India is “exporting jobs”, then buying a Scotch whisky, German car, Japanese television, etc. is exporting Bourbon/US Automaker/US electronic maker jobs.

Do you drink Bourbon or Scotch whisky? Napa valley wine or French/South African/Chilean/Australian wine? Cheeses made outside the US? Electronic goods made outside the US in South Korea or Japan? By your logic, if you bought any of these, you are exporting manufacturing jobs.

[driftdiver]

Puppet is a puppet

[Cronos]

Yup, true, a puppet who can't think but repeats "I can buy anything that's not made in America, but if someone uses a service, they are capitalist sellouts."

Thank goodness we don't have people who are sellout drifters...

[Cronos]

And, you still haven't answered my question

I asked you -- have you bought a German made or Japan-made or china-made or korea-made or french-made product (Car, TV, radio, cd player, game player, toy, clothes, wine etc.)?

A simple yes or no question

Very easy -- if you have an IQ over 80 it should be possible to answer that. If not, well.....

Alternatively, if one's IQ is less than 80, one can just keep repeating "I can buying products made outside the US, but anyone who buys a service is bad."...

[driftdiver]

What makes you think you deserve an answer. You clearly care nothing for America.

[Cronos]

On the contrary, newbie, I do care for America, so I don’t outsource jobs by buying products made abroad. If you do buy products made in Europe, Japan, Asia, Africa, etc. you are outsourcing jobs to them, and would be no friend of American jobs if you do that.

[Cronos]

And, you don't seem to have the answer to my question, so I'll assume that either you can't answer a simple yes or no question (low IQ does happen to a few, don't worry) or that you do support exporting American manufacturing jobs by buying goods made outside the US

I asked you -- have you bought a German made or Japan-made or china-made or korea-made or french-made product (Car, TV, radio, cd player, game player, toy, clothes, wine etc.)?

A simple yes or no question

Very easy -- if you have an IQ over 80 it should be possible to answer that. If not, well.....

Alternatively, if one's IQ is less than 80, one can just keep repeating "I can buying products made outside the US, but anyone who buys a service is bad."...

[driftdiver]

Do you always post twice? Is that do to your multiple personalities?

begone back to the muck troll