Skip to comments.Report: BofA rescinding job offers to MBA students
Posted on 03/09/2009 8:42:25 AM PDT by meadsjn
Bank of America Corp. is starting to withdraw offers to some MBA students set to graduate from U.S. business schools this year, the Financial Times reported Monday.
The move would affect foreign nationals attending business school in the United States. The $787 billion stimulus package prevents financial institutions like Bank of America (NYSE:BAC) that receive TARP money from applying for H1-B visas for highly skilled immigrants if they have recently laid off U.S. workers, the paper reported.
The move should affect no more than 50 graduates, but it is worrying business schools, the Financial Times said.
There might be an inclination for people from around the world to vote with their feet (and avoid US business schools), David Schmittlein, dean of MITs Sloan school of management in Boston, told the paper.
What a concept, American companies hiring Americans!
Yep. Laid off? Go back to school and train for a new job. Then watch that job go to somebody from India, and work at Walmart.
As a shareholder, I don’t care what ethnicity they are. I just want them to be the best people BofA can hire so that they can start to turn around BofA’s dreadful performance.
Especially since they are asking Americans for a bailout. The injustice to those banks :-)
Its time for ALL Indians (like me), now U.S. citizens and people from other nationalities to stand up for America where they have made a good life for themselves.
After all, it is their U.S. born kids who will be left without jobs one of these days when that job moves to another country.
Plus what is wrong for standing up for the good of your country , the United States?
To the contrary, BoA and most of the rest of corporate America got rid of the "best people" when they canned US citizens in favor of cheaper workers from the third world (less educated, less qualified, less inclined to care about the future of the company or the country). A faux MBA on top of a faux BS (six weeks of tech school) is not impressive.
Be honest: Are your stock holdings trending better or worse than they were ten or fifteen years ago?
Besides, BoA is up 14% so far — apparently investors overall don’t see this as a negative.
Well...I'll be dipped. A bit of a silver lining that.
I'm flat-out amazed that this sort of language actually made it into the bill. Perhaps the Leftie Libs in congress will actually read these things more carefully in the future.
Thanks. That is the essence of the American dream.
What a concept, American companies hiring Americans!”
What a concept, American companies hiring Americans WITH AMERICAN TAXPAYER MONEY.
Bank of America with the Loans and credit cards to Illegals who cares what happens to them.’
I agree fully.
Wells Fargo was 2nd to do those practices, I think.
So what's to stop them from simply offshoring those jobs?
So am I. The Free Traitors apparently lapsed on their payments to some of the congress critters.
I salute you. You are the kind of immigrant who helped build this country.
They already have, and that is why their whole company is in shambles.
BoA's growth model for more than a decade has been to buy up American banks, lay off the US employees, and replace them with cheap imported labor (in addition to their offshore workers).
BofA is just like Citi; they are both in very big financial trouble!
BofA being up today means nothing. Their stock was in the 40s just a few months ago, and it’s now down to $3.50. And if the people they are hiring have MBAs that aren’t worth a darn, then their HR department isn’t doing their job. The people I work with that have H1B-Visas are some of the most brilliant people I’ve ever met, and quite assiduous workers as well.
This isn't about ethnicity but legal Americans. Why are Americans so quick to sell out other Americans these days? We should be Americans first, employees or investors second. It's against human nature to sell out your own tribe, the team you are playing on, for a few pieces of silver.