Countrywide buys building in Fort Worth (1500 More jobs and Good News!!)

Dallas Business Journal ^ | 02.15.06 | Holli L. Estridge

[q_an_a]

Countrywide Financial Corp., continuing its expansion tear across the Metroplex, has snapped up a Fort Worth office building to accommodate 1,500 additional jobs.

Countrywide bought the 294,000-square-foot building at Koll Development Co.'s CentrePort office park, just south of Dallas/Fort Worth International Airport, for an undisclosed amount. The masterplanned, 1,300-acre park has 2.25 million square feet of total office space, about 90% of which now is occupied.

[q_an_a]

It's good news week. Someone tell the Democrats that less regulation in Texas is sending business from California to the people who want to work - for good wages.

[Vigilanteman]

Paging Willie Green. You have a counterpart.

[sergeantdave]

Looks like Texas is creating a ton of jobs.

Meanwhile, United Van Lines reports that more people moved out of Michigan last year than in any year since 1982, when the state jobless rate hit 14%. Today it is 6.1%, well above the national rate of 5%.

And Michigan’s rate of per-capita Gross State Product growth ranked 50th among the states from 2003 to 2004.

So, kiddies, the lesson for today is - Just because a female is running for office, it doesn't necessarily mean it's a good idea to vote for that female because it's time to give a woman a chance. First check to see if the female is a communist. Why? Because communists suck. And stupid female communists really, really suck - big time.

[raybbr]

Another debt servicing industry expansion. Big whip. When the interest rates go up again these jobs will be the first to go.

[jiggyboy]

Their annual report in January said more or less that they are getting a much bigger piece of a slightly smaller mortgage pie. A lot of the smaller companies are going under.

[Willie Green]

Someone tell the Democrats that less regulation in Texas is sending business from California to the people who want to work - for good wages.

"Good wages" my foot.
Countrywide already has plans in the works to outsource these jobs.

Countrywide Fin to double headcount

Prerna K. Mishra
New Delhi, February 19, 2006

India is of strategic importance as an offshore destination in the overall reengineering strategy of financial products and services player Countrywide Financial Services. The company that is the largest mortgage-banking player in the US and manages assets worth $1 trillion globally, plans to shift about 10,000 jobs to offshore destinations by 2010.

Countrywide Financial Corporation plans to end 2006 with a total investment of about Rs 180 crore on infrastructure, network and recruiting resources in India through its subsidiary CFC India. The Indian subsidiary provides specialised BPO and IT services to Countrywide's US businesses. The financial major that set up its second facility in Mumbai on Tuesday, plans to add another facility in Hyderabad by 2006-end.

Speaking to the Hindustan Times, Countrywide Financial Corporation president & MD Tom Jones said, "We expect our headcount to grow from existing 1,800 to 3,500 by the end of this year. While we will have about 1,000 employees in Hyderabad, the rest will be positioned at the two facilities in Mumbai."

The company already has a facility in Mumbai that operates mostly in the IT services space. The new facility will be the first campus to be dedicated to BPO segment. To begin with, the company is shifting its low-end functions like data entry, inbound and outbound voice processes, to India. "Higher-end processes and development will follow as we get a better grip over transition of the low-end processes."

The company that has 56,000 employees in the US is in the process of optimising its cost structure to make their operations more competitive.

It also wouldn't surprise me if they're also taking advantage of Texas' policy of recruiting illegal immigrants.