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Keyword: offshoring

Brevity: Headers | « Text »
  • Will GOP candidate(Cruz) go from H-1B supporter to visa critic to...? (Fiorina Huge H1B Supporter)

    04/27/2016 7:12:56 PM PDT · by xzins · 58 replies
    Computer World ^ | Apr 27, 2016 | Patrick Thibodeau
    Cruz's decision Wednesday to add former Hewlett-Packard CEO Carly Fiorina (and one-time GOP presidential candidate herself) as his running mate if he wins the nomination, may make his newly found H-1B beliefs a hard sell. At HP, Fiorina was a prominent supporter of the offshore outsourcing model, said Ron Hira, an associate professor of public policy at Howard University, who wrote about Fiorina's approaches in his book, Outsourcing America. "To pump up profits, she was an early adopter of the practice, which given HP's status as a leading Silicon Valley firm, pushed other firms to adopt offshoring," said Hira. "It...
  • Verizon is offshoring jobs, records say [moving call center and IT work overseas]

    04/19/2016 3:02:41 PM PDT · by SeekAndFind · 50 replies
    IT World ^ | 04/19/2016 | Patrick Thibodeau
    A key issue raised by labor unions in their weeklong strike against Verizon is the offshoring of work. The unions say Verizon has plans to send more jobs overseas. Verizon isn't saying what it is doing in this respect, but there is a paper trail of documents filed by its employees that point to offshoring. The union contends that Verizon wants, in a labor contract, to shift more jobs to contractors. Nearly 40,000 Verizon workers are on strike. "They want the ability to contract work -- as much as 50% -- the great majority of that is offshore," said Marilyn...
  • Panama Law Firm’s Leaked Files Detail Offshore Accounts Tied to World Leaders

    04/04/2016 9:45:35 AM PDT · by Lorianne · 21 replies
    New York Times ^ | 03 March 2016 | Mmichael S. Schmidt, Steven Lee Myers
    A group of news media outlets published articles on Sunday based on what they said were 11.5 million leaked documents from a Panama law firm that helped some of the world’s wealthiest people — including politicians, athletes and business moguls — establish offshore bank accounts. The German newspaper Süddeutsche Zeitung said its reporters had obtained the documents from a confidential source. The newspaper then shared the files with other media organizations, like The Guardian and the International Consortium of Investigative Journalists. In an article, the investigative journalism organization said the documents revealed the offshore accounts of 140 politicians and public...
  • IBM to erase 14,000 people from the payroll – Wall St analyst

    03/12/2016 6:45:37 AM PST · by snarkpup · 137 replies
    The Register ^ | 10 Mar 2016 at 16:05 | Paul Kunert
    Jobs to be bundled on a plane and flown to lower labour cost countries ... He highlighted a $1bn Japanese tax gain Big Blue has received, and pointed out that in the past the company had matched the proceeds from dispositions or IP sales with workforce restructuring expense.
  • Sen. Durbin calls Abbott Labs' IT layoffs 'harsh and insensitive’

    03/07/2016 6:04:07 AM PST · by C19fan · 96 replies
    Computer World ^ | February 29, 2016 | Patrick Thibodeau
    Abbott Labs, a global healthcare company, is laying off about 180 IT employees after signing an agreement with Wipro, a major India-based IT services firm, to take over some IT services. The employees were told about the planned cuts on Feb. 22; their last day will be April 22.
  • The brutal economic truth behind the rise of Trump

    03/02/2016 6:42:44 AM PST · by dirtboy · 18 replies ^ | 3/2/2016 | Anthony Mirhaydari
    -- snip -- If his appeal was based on his language and bluster, America would have elevated someone like Howard Stern or Ann Coulter long ago. If his appeal was based on foreign policy concerns, why isn't a military general leading the charge? It's the economy, stupid! And the fact is that real, median household income peaked at nearly $58,000 back in 1999 and has been sliding ever since, standing now at just $53,657. This can all be summarized in two charts: The relationship between corporate profitability and labor's share of income shown above. Cheap laborers (both undocumented unskilled and...
  • The U.S. Must 'Reshore', Not Offshore Jobs: The money, people, training and jobs are all there.

    12/23/2015 7:54:47 AM PST · by SeekAndFind · 12 replies
    RCM ^ | 12/22/2015 | Chase Norlin
    Every major presidential candidate, even those most beholden to Wall Street, says he or she opposes the offshoring of American jobs. Like vows to "defeat ISIS" and "repair our crumbling infrastructure," the nationalist cri de couer against "shipping jobs overseas" has become a bipartisan catchphrase of the 2016 race. But political rhetoric is one thing and economic reality is another. Offshoring has become an effective way for U.S. companies to build and manage their products and services. Look at Apple Computer. Except for the Mac Pro personal computer, possibly the best company in the history of American business doesn't produce...
  • Baby boomers are what’s wrong with America’s economy

    11/06/2015 8:07:55 AM PST · by MadIsh32 · 188 replies
    Washington Post ^ | 11/05/2015 | Jim Tankersley
    If anyone deserves to pay more to shore up the federal safety net, either through higher taxes or lower benefits, it’s boomers — the generation that was born into some of the strongest job growth in the history of America, gobbled up the best parts, and left its children and grandchildren with some bones to pick through and a big bill to pay. Politicians shouldn’t be talking about holding that generation harmless. They should be asking how future workers can claw back some of the spoils that the “Me Generation” hoarded for itself.
  • US On Road To Third World — Paul Craig Roberts

    10/31/2015 7:49:39 AM PDT · by Riflema · 64 replies
    Paul Craig Roberts (via Zerohedge) ^ | 10/29/15 | Paul Craig Roberts
    On January 6, 2004, Senator Charles Schumer and I challenged the erroneous idea that jobs offshoring was free trade in a New York Times op-ed. Our article so astounded economists that within a few days Schumer and I were summoned to a Brookings Institution conference in Washington, DC, to explain our heresy. In the nationally televised conference, I declared that the consequence of jobs offshoring would be that the US would be a Third World country in 20 years. That was 11 years ago, and the US is on course to descend to Third World status before the remaining nine...
  • Clinton Was For Outsourcing Before She Was Against It [offshoring]

    10/14/2015 7:36:18 AM PDT · by ConservingFreedom · 3 replies
    Washington Free Beacon ^ | October 13, 2015 | Bill McMorris
    One of Hillary Clinton’s biggest supporters attempted to spin the Democratic frontrunner’s long history of supporting outsourcing ahead of the first Democratic primary debate.Former Michigan Democratic Gov. Jennifer Granholm, a top executive at pro-Clinton Super PAC Correct the Record, told MSNBC that Clinton opposed the Trans-Pacific Partnership (TPP), President Obama’s trade deal with a dozen Asian countries, because of her opposition to outsourcing.“She doesn’t want to be party to the continual offshoring of American jobs,” Granholm said. “She has seen that. That’s what she saw when she was representing New York up in Buffalo when they lost jobs.”However, as a...
  • Democrats are the best friends big business ever had

    10/13/2015 3:50:31 AM PDT · by RockyTCB · 4 replies
    Investor's Business Daily ^ | 10/12/2015 | Staff
    Regulation: You can bet all the contenders at Tuesday's Democratic presidential debate will say they're the toughest on big business. What they won't say is their own policies favor big business, big time.
  • GE, protesting Ex-Im Bank demise, threatened to offshore jobs which didn’t exist

    09/17/2015 8:10:07 PM PDT · by SeekAndFind · 10 replies
    Hotair ^ | 09/17/2015 | Jazz Shaw
    Back in June we covered the story of General Electric throwing a fit of pique over the demise of the Export-Import Bank and threatening to ship their jobs overseas if the cookie jar wasn’t opened back up. The amount of sympathy which GE received from our readers and the conservative community in general was… muted to say the least. It seemed like a cheap, tawdry move which was designed to try to hold American workers hostage in exchange for getting what they wanted from the feds.That story took a rather odd twist this week when some new information came...
  • Hewlett-Packard Plans To Cut Up To 30,000 Jobs

    09/16/2015 3:47:51 AM PDT · by CutePuppy · 36 replies
    IBD ^ | 2015 September 15 | Russ Britt
    <p>Short columns must be excerpted to 50% at all times.</p>
  • Missile Technology Sent To China

    02/05/2003 8:08:53 AM PST · by Stand Watch Listen · 24 replies · 1,472+ views
    INSIGHT magazine ^ | February 18, 2003 | Scott L. Wheeler
    An important U.S. high-tech manufacturer is shutting down its American operations, laying off hundreds of workers and moving sophisticated equipment now being used to make critical parts for smart bombs to the People's Republic of China (PRC), Insight has learned. Indianapolis-based Magnequench Inc. has not yet publically announced the closing of its Valparaiso, Ind., factory, but Insight has confirmed that the company will shut down this year and relocate at least some of its high-tech machine tools to Tianjin, China. Word of the shutdown comes as the company is producing critical parts for the U.S. Joint Direct Attack Munition (JDAM)...
  • As Barack Obama's term ends, immigration and visa issues may hurt Indian IT services companies

    06/08/2015 6:51:07 AM PDT · by ConservingFreedom · 17 replies
    The Economic Times ^ | 8 Jun, 2015 | Neha Alawadhi
    NEW DELHI: Immigration and visa issues, which have long plagued the information technology sector, could come back to hurt Indian IT services companies this year as the US heads towards Presidential elections in 2016. In the US, the biggest market for the Indian IT services sector, "this will be a bloody, contentious election and immigration reform is right up there for discussion," said Phil Fersht, founder and chief executive of HfS Research. "The displacement of US IT and back-office jobs will be a significant issue leading up to 2016." India's $146 billion IT outsourcing industry has been a beneficiary of...
  • Immigrants do jobs Americans won't do. Except at Disney. Laid off workers to train foreigners

    06/04/2015 6:38:54 AM PDT · by SeekAndFind · 34 replies
    American Thinker ^ | 06/03/2015 | NewsMachete
    Disney is firing tech employees and replacing them with (legal) foreigners. [A]bout 250 Disney employees were told in late October that they would be laid off. Many of their jobs were transferred to immigrants on temporary visas for highly skilled technical workers, who were brought in by an outsourcing firm based in India. Over the next three months, some Disney employees were required to train their replacements to do the jobs they had lost. But the layoffs at Disney and at other companies, including the Southern California Edison power utility, are raising new questions about how businesses and outsourcing companies are using the...
  • Is the internet killing middle class jobs?

    04/05/2015 5:14:03 AM PDT · by SeekAndFind · 152 replies
    The Week ^ | 04/04/2015 | James Pethokoukis
    The Robopocalypse for workers may be inevitable. In this vision of the future, super-smart machines will best humans in pretty much every task. A few of us will own the machines, a few will work a bit — perhaps providing "Made by Man" artisanal goods — while the rest will live off a government-provided income. Silicon-based superintelligence and robots will dramatically alter labor markets — to name but one example, the most common job in most U.S. states probably will no longer be truck driver. But what about right now? If you're unemployed or working part-time instead of full-time, or...
  • The Great Worker Shortage

    04/01/2015 6:59:31 AM PDT · by SeekAndFind · 26 replies
    Forbes ^ | 04/01/2015 | Steve Moore
    The great conundrum of the U.S. economy today is that we have record numbers of working age people out of the labor ‎force at the same time we have businesses desperately trying to find workers. As an example, the American Transportation Research Institute estimates there are 30,000 – 35,000 trucker jobs that could be filled tomorrow if workers would take these jobs–a shortage that could rise to 240,000 by 2022. While the jobs market overall remains weak, demand is high for in certain sectors. For skilled and reliable mechanics, welders, engineers, electricians, plumbers, computer technicians, and nurses, jobs are plentiful;...
  • Cognizant: A Way to Play India and Healthcare

    02/10/2015 7:39:12 AM PST · by Kaslin · 1 replies ^ | February 10, 2015 | Bill Gunderson
    Cognizant Technology Solutions (CTSH) is one of the largest providers of technology, consulting and business process outsourcing services. The company was founded in 1994 as a captive arm of Dun & Bradstreet and started trading on the NASDAQ in 1998. The stock just hit an all-time high after reporting 4Q earnings and revenues that exceeded analyst estimates. One of the key drivers this quarter was a 26% surge in revenue from the health care division, its second biggest division behind financial services.Cognizant expanded its health-care offering to take advantage of the industry-wide overhaul of the healthcare system spurred by the...
  • Agenda 21: Obama Commits To Helping India Build ‘Smart Cities’ (Video)

    01/28/2015 6:23:37 PM PST · by Whenifhow · 30 replies
    Noisy Room ^ | Jan 28 2015 | Renee Nal
    During his trip to India, President Obama declared America’s commitment to “help design smart cities” and “bullet trains” in the country. The main selling point for “smart cities” is that they are “sustainable,” a vague but applauded term that often used in context of combating what this author strongly believes is a non-existent problem: man-made climate change. During a speech at the Siri Fort Auditorium in India, Obama, who met with Prime Minister Narendra Modi on the tour, declared: We are ready to join you in building new infrastructure…roads and airports, the ports and bullet trains to propel India into...
  • Off-shoring American jobs - good for corporations, bad for everyone else

    09/20/2014 2:28:08 PM PDT · by Noremac · 44 replies
    Communities Digital News ^ | September 20, 2014 | Richard Cameron
    <p>Every now and then I see an article that is so reality deficient that it commits what amounts to sexual assault against common sense. Actually I see them all the time, but one in particular had me shaking my head.</p>
  • Corporations Join Droves Renouncing US Citizenship

    08/31/2014 8:08:24 PM PDT · by SeekAndFind · 10 replies
    Casey Research ^ | 08/30/2014 | Nick Giambruno, Senior Editor,
    Don’t be surprised to lose if you don’t make an effort at being competitive.And if you go out of your way to make yourself less competitive, expect to lose.If that sounds like simple common sense, that’s because it is.But it’s also exactly what the US has been doing for years—enacting tax policies that sabotage its global economic competitiveness.It’s like trying to get in shape for a marathon by going on an all-McDonald’s diet. (Speaking of McDonalds, check out this funny video spoof of what their commercials should really look like.)Here are two major reasons why the US is lagging in...
  • Bill Gates vacations better than most aboard 450-foot luxury yacht near Italy

    08/09/2014 11:16:17 AM PDT · by Kid Shelleen · 82 replies
    NY Daily News ^ | 08/08/2014 | LEE MORAN
    Bill Gates doesn’t slum it when it comes to his vacations. The world's richest man has been photographed enjoying quality family time aboard an extravagant $330 million yacht. The Microsoft founder has been pictured on “The Serene,” a stunning 450-foot boat he’s renting from Stolichnaya vodka magnate Yuri Scheffler for a cool $5 million per week. Moored off the coast of Sardinia, it reportedly has 12 state rooms, a seawater swimming pool, a cinema, a nightclub, a climbing wall, a gym and two hot tubs.
  • Walgreens leaving Illinois for Switzerland?

    07/25/2014 7:31:56 PM PDT · by Coleus · 22 replies ^ | July 25, 2014 | SCOTT REEDER
    Walgreens leaving Illinois for Switzerland? SPRINGFIELD – I picked up my vacation photos at Walgreens the other day.  And I didn’t hear any French, German or Italian spoken.How surprising.I’ve read that the Deerfield, Ill.,-based drugstore chain is considering becoming a Swiss corporation. I’ll admit the thought of a company that is essentially an American icon becoming a foreign corporation gives me pause.  After all, Walgreens is one of Illinois’ premier companies. It was founded here in 1901 and is headquartered in Deerfield, Ill. And now they are talking about moving their headquarters to Switzerland.But what exactly does it mean when...
  • Would Monsanto move its headquarters out of the country?

    06/24/2014 4:42:07 AM PDT · by WhiskeyX · 12 replies
    St. Louis Post Dispatch ^ | 23 June 2014 7 hours ago | Tim Barker
    According to the wire service, Monsanto mulled a takeover of its $34 billion seed and herbicide rival, in part, to move its legal headquarters to Switzerland. It’s a move known as corporate inversion and it has the power to shield money held overseas from Uncle Sam’s tax collectors.
  • Future for new college graduates looks bleak

    05/27/2014 6:42:33 AM PDT · by SeekAndFind · 15 replies
    Washing ^ | 05/27/2014 | Ashley Pratte
    It’s that time of year again — graduation season. While commencement ceremonies should be a time of celebration for college graduates, it has rather become a moment of panic. Young America's Foundation latest polling shows that 51 percent of graduating college seniors feel “nervous” about their future after graduation. Many of the respondents blamed their anxiety about the future on the bad economy. Of the graduating seniors that were polled, 39 percent said they are not at all optimistic about finding a job in the first few months after graduation. The Obama administration and liberals in Washington are consistently letting...
  • A new way to gauge the worth of college debt, starting salary

    03/23/2014 4:35:07 PM PDT · by SeekAndFind · 43 replies
    Chicago Tribune ^ | 03/17/2014 | By Steve Rosen
    Here's a typical college scenario: Your daughter's dream job is to be an elementary school teacher and reading specialist. Yet she'll need to dive deep into debt to pursue her undergraduate degree, and borrow more if continuing to grad school. She's worried -- rightfully -- about her financial future, and she's looking for answers. How much debt might she be saddled with? How much will her college degree translate into salary once she lands a job? And what budget-squeezing sacrifices might be necessary to repay the swath of loans? Those types of questions are on the minds of countless college...
  • Democrat Logic: Lose Your Job and Feel Liberated

    02/08/2014 8:14:59 PM PST · by SeekAndFind · 21 replies
    American Thinker ^ | 02/08/2014 | Brian C Joondeph, MD
    This week, a report from the Congressional Budget Office acknowledged that ObamaCare would reduce full-time employment by 2.5 million over the next ten years. And that is on top of news that 92 million Americans who could be working are not. What a devastating assessment for the unemployed or underemployed, particular millenials seeking to transition from internships and part-time jobs to career-building full-time jobs. Yet the predictable spin from the White House and major media outlets is that this is good news, liberating workers from the chains of employment. To quote President Obama, from the 2008 campaign, "You can put...
  • Contractor (and Close Russian Ally) Belarus Built Malware RIGHT INTO Obamacare Code

    02/04/2014 3:28:29 AM PST · by Reaganite Republican · 26 replies
    Reaganite Republican ^ | 04 February 2014 | Reaganite Republican
    Remember when John McAfee warned us in November that anybody who signed up to the Obamacare site might have their bank account cleaned-out by hackers? The eccentric genius and former fugitive called the government website 'a hacker's wet dream', adding that there were 'NO safeguards' that would stop someone from starting a fake Obamacare website 'for a couple hundred dollars' that could 'empty your bank account' in hours.  McAfee added unambiguously that 'It's going to happen, and it's going to happen soon... nothing in the Obamacare system safeguards against this.'  And I thought he was just trying to sell...
  • Why stronger GDP growth isn't creating more jobs

    01/31/2014 7:14:17 AM PST · by SeekAndFind · 35 replies
    FORTUNE ^ | 01/30/2014 | By Stephen Gandel, senior editor
    The government said GDP rose 3.2% in the last three months of 2013 -- one of the fastest rates since the end of the recession, though slower than the third quarter's 4.1%. Still, that sounds good, until you remember this: Employers only added 74,000 jobs in December -- one of the worst months in nearly three years. Stronger economic growth is supposed to equal more jobs. So what gives? It does appear that the normal relationship between jobs and GDP has broken down. In the first half of 2013, for instance, GDP growth was at 1.9% and employers added an...
  • Leavin’ on a jet plane: Obama supporters vow exodus from US if Romney wins

    10/10/2012 11:29:39 PM PDT · by plsjr · 77 replies
    Twitchy - U.S. Politics ^ | 10 Oct 2012 | Twitchy Staff
    "Leavin’ on a jet plane: Obama supporters vow exodus from US if Romney wins" Oof. Another election, another litany of threats from American liberals vowing to leave the country if a Republican is elected president:
  • Obama’s Offshore Team

    07/18/2012 7:13:26 AM PDT · by SeekAndFind · 4 replies
    National Review ^ | 07/18/2012 | Betsy Woodruff
    In one of the president’s latest campaign commercials — an ominous spot that looks a bit like the trailer to a B-grade horror movie — Mitt Romney gets some flak for his offshore bank accounts. Apparently, keeping money in places like the Bahamas and the Cayman Islands is a sign that one might not be the most upstanding citizen. This raises a question: Why do some of the president’s wealthiest donors use the same strategies this commercial decries? At least five of the president’s “bundlers” — in lay terms, people who form groups with their acquaintances and pool funds in...
  • Offshoring Is Fine (There's nothing wrong with Bain's record and Mitt should defend it)

    07/17/2012 9:45:46 AM PDT · by SeekAndFind · 7 replies
    Slate ^ | 07/17/2012 | By Matthew Yglesias
    Mitt Romney’s presidential campaign spent the weekend mired in a tortured dispute over a seemingly absurd question: When is the CEO and sole shareholder of a company he founded not responsible for the actions of the company? The Romney camp’s answer is that it’s unfair to criticize him for offshoring, outsourcing, and layoffs at Bain-controlled companies between 1999 and 2002 because in practice he was on a leave of absence running the Salt Lake Olympics. Senior adviser Ed Gillespie, speaking on CNN’s State of the Union on Sunday, explained that when Romney was elected governor of Massachusetts in November 2002,...
  • Obama Does Not Know What ‘Outsourcing’ Means

    06/27/2012 6:25:56 AM PDT · by SeekAndFind · 18 replies
    National Review ^ | 06/27/2012 | Kevin D. Williamson
    Could somebody please get Barack Obama to shut up about “outsourcing” until some undergraduate aide has explained to him what the word means? As it stands, the president is showing himself an ignorant rube on the subject, and that is to nobody’s advantage. The Obama campaign, as you probably know, has been running ads denouncing Mitt Romney’s role at Bain Capital, in which Romney made various business deals that had the effect of making a whole lot of money for Bain’s customers while also allowing a lot of dirty foreigners to eat, and God knows the world would be better...
  • Bangalore firms innovate to avoid being 'Bangalored'

    04/05/2012 1:21:05 AM PDT · by Cronos · 5 replies
    Hindustan times ^ | 5 April 2012 | Reuters
    Rajesh Rao is among a handful of Indian entrepreneurs who may prevent the country's software industry from getting "Bangalored". The 41-year-old self-confessed geek runs Dhruva, a firm that sells content and services to global online game companies from a bungalow in a crowded suburb of a city that has come to embody outsourcing and the transfer of jobs from the West. But plain vanilla outsourcing - help desks and back office operations - is finding cheaper locations abroad. India's software industry has discovered it needs to move up the value chain or enter niche areas like gaming to continue growing....
  • Big U.S. Firms Shift Hiring Abroad

    04/22/2011 10:34:53 AM PDT · by Palter · 35 replies
    WSJ ^ | 19 April 2011 | DAVID WESSEL
    Work Forces Shrink at Home, Sharpening Debate on Economic Impact of Globalization U.S. multinational corporations, the big brand-name companies that employ a fifth of all American workers, have been hiring abroad while cutting back at home, sharpening the debate over globalization's effect on the U.S. economy. The companies cut their work forces in the U.S. by 2.9 million during the 2000s while increasing employment overseas by 2.4 million, new data from the U.S. Commerce Department show. That's a big switch from the 1990s, when they added jobs everywhere: 4.4 million in the U.S. and 2.7 million abroad. In all, U.S....
  • The Fair Tax: A Vital Part of the Solution!

    11/10/2010 3:44:17 PM PST · by Dick Bachert · 178 replies
    Self | 11-10-2010 | Dick Bachert
    No question about it -- we are in deep trouble. Unemployment, manufacturing being killed here and jobs moving overseas, unrestrained spending and the resultant deficits being given cover by more and more printing press “money” and the inflation – or worse – that almost always follows, etc., etc. And when the new – ostensibly conservative -- members of Congress take their seats in January, we will only see the beginning of the long and painful process of retracing our steps back to Constitutional and fiscal sanity. It points to the fact that much of our trouble stems from a failure...
  • 11 "American" Industries That Are Dominated By Immigrants And Offshoring

    10/15/2010 9:59:35 AM PDT · by WebFocus · 7 replies
    Business Insider ^ | 10/15/2010 | Gus Lubin
    American industry is at the end of a four-decade tail spin. We've reached the point where people talk about a recovery that doesn't bring back factory jobs, or at least gives up some industries for lost. In this light, it's surprising to read a rosy outlook from the NBER about the impact of immigrant labor and offshoring. Both practices have a cost-saving effect, the study finds, that "may leave unaffected, or even increase, total native employment of less skilled workers." Maybe these 11 industries are on the verge of a renaissance, but we think not.
  • IBM is India's second-largest private sector employer

    08/17/2010 5:40:58 PM PDT · by James C. Bennett · 6 replies
    The Times of India ^ | 18 August, 2010 | The Times of India
    BANGALORE: Tata Consultancy Services is the largest private sector employer in the country. It had 163,700 employees as on June 30. But guess who's number 2? The honour goes to -- surprise, surprise -- IBM. That's right. Not to any Tata or Ambani company, or to Infosys or Wipro. The fact that IBM has over 100,000 people on its rolls in this country is one of India Inc's best-kept secrets. No one in US-headquartered IBM will admit that it employs such a large number of people in India -- for fear of a backlash at home. There's been rising anger...
  • Cramer: Obama Forcing U.S. Investors Overseas

    02/01/2010 12:45:40 PM PST · by Comrade Brother Abu Bubba · 27 replies · 1,115+ views
    Moneynews ^ | Feb 1, 2010 | Dan Weil
    CRAMER: OBAMA FORCING US INVESTORS OVERSEASCNBC commentator Jim Cramer says President Obama is picking a fight with the stock market and that investors should turn overseas as a result. “We have a president who is kind of turning on the stock market in a populist way,” Cramer said on the air. “If you’re a populist, you think that the stock market is for rich people. I hear that kind of thing in his voice, and it makes me say, ‘Maybe I should now focus on foreign stocks.'” Cramer recommends that investors lift foreign stock holdings to 25 percent of their...
  • Career Watch: A Professor Challenges the Conventional Wisdom on Offshoring

    01/02/2010 6:03:32 AM PST · by Son House · 57 replies · 1,772+ views
    Computerworld ^ | December 21, 2009 | By Jamie Eckle
    While not all of those jobs will be lost overseas, those workers will face wage pressures. -- Hewlett-Packard has asked many of its EDS employees to take 50% pay cuts. Even the most pro-offshoring report, written by McKinsey Global Institute's Diana Farrell, which asserted that the U.S. will be better off with offshoring, concedes that American workers will experience major losses in wages and jobs. Offshoring is a major structural shift in the way the economy works. Alan Blinder has called it a shift equivalent to the industrial revolution. Ponder that! What needs to change so that companies reject outsourcing...
  • US firms shift call centre ops back home from India

    12/07/2009 2:47:15 AM PST · by Cronos · 12 replies · 965+ views
    Mint ^ | 7-Dec-2009 | Lisa Joseph
    Mumbai: Two weeks ago, AGL Resources Inc., an Atlanta, US-based natural gas distribution company, decided to shift its call centre operations from India to the US. The centre was operated by India’s third largest information technology (IT) services company, Wipro Ltd. Along with similar instances of Delta Airlines Inc., United Airlines Inc. and Chrysler Group Llc reported earlier in the year, this could raise a flag for Indian business process outsourcing (BPO) firms which earned nearly $15 billion (Rs69,450 crore today) from such back-office work in the year to March AGL said that were no consumer satisfaction issues. “Wipro employees...
  • Honey, I Found Our Hidden Swiss Bank Account

    10/17/2009 3:18:07 PM PDT · by fiscon1 · 15 replies · 1,004+ views
    Politics Daily ^ | 10/17/2009 | Joann Weiner
    As part of a voluntary program that ended on October 15, some 7,500 Americans with hidden offshore bank accounts ended the game of hide and seek with the IRS. They finally decided to tell the government where to find their assets. Some of these hidden accounts were pretty hard to lose track of --- one had more than $100 million in it.
  • Offshore Haven Considers a Heresy: Taxation (Are the Cayman Islands Broke ?)

    10/17/2009 10:03:40 AM PDT · by SeekAndFind · 6 replies · 561+ views
    New York Times ^ | 10/17/2009 | Landon Thomas Jr.
    GEORGE TOWN, Cayman Islands — What happens to a tax haven when it has to raise taxes? The Cayman Islands may soon find out. Caught in a vise of shrinking revenue and stubbornly high public spending, the Caymans averted a fiscal crisis this week by securing a $60 million overseas loan. But the Foreign and Commonwealth office in Britain, which oversees the Caymans and can veto foreign lending requests, has delivered an ultimatum: The rest of the $284 million the Cayman government says it needs will not be forthcoming until this offshore financial center imposes spending cuts and considers some...
  • On the measurability of offshorability (Why 25% of American jobs are can be done overseas)

    10/09/2009 7:46:40 AM PDT · by SeekAndFind · 22 replies · 810+ views
    VOX ^ | 10/8/2009 | Alan S. Blinder
    Fear of offshoring may force its way back onto policy agendas soon. This column uses a survey of individual workers to measure the offshorability of particular jobs and says that about 25% of US jobs are offshorable. Surprisingly, routine tasks are not more offshorable but those held by more educated workers are. Although overshadowed by the financial crisis and the world recession right now, the debate over offshoring – that is, outsourcing work to foreign (often poorer) countries – seems poised to stage a comeback as a public policy concern in the not-too-distant future. Indeed, with so much protectionist talk...
  • BREAKING SCANDAL: Obama Caught Sending Stimulus Money Offshore

    09/02/2009 1:21:41 PM PDT · by Winged Hussar · 75 replies · 7,603+ views
    IsraPundit ^ | 9/2/09 | Bill Levinson
    Barack Obama said the Waxman-Markey carbon tax would help create "green energy" jobs in the U.S. He is now using taxpayer dollars to fund jobs in Spain.Barack Obama sold the Waxman-Markey "American Clean Energy and Security Act" to Congress and the American people by saying that investment in so-called "green energy" would create millions of high-wage American manufacturing jobs. We received an E-mail from the Society of Manufacturing Engineers (nonpartisan professional organization) that exposed Barack Obama as a blatant prevaricator who is shamelessly using our tax dollars to create jobs not in the United States but in foreign countries. We...
  • FAQ: Data Shows Overseas Shift for U.S. IT Jobs

    08/03/2009 3:06:46 PM PDT · by anymouse · 10 replies · 909+ views
    Computer World ^ | July 30, 2009 | Patrick Thibodeau
    U.S. IT providers continue to push jobs offshore, while Indian firms work to refine the amount of work they complete overseas. Although Congress may force the Indian firms to hire more Americans -- and Indian companies have been telling investors that they may have to indeed do that -- the change won't likely affect the overall trend and the shift in jobs outside the U.S. Okay, so where are U.S. jobs going? What's the data show? Data prepared by Everest Group Inc., a research and outsourcing consulting firm, shows in broad brush fashion the shift of jobs overseas by some...
  • Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas

    06/06/2009 8:18:43 PM PDT · by Flavius · 34 replies · 1,954+ views
    dailytech ^ | 6/5/09 | dailytech
    It takes an incredibly powerful company to threaten the U.S. government in hopes of impacting a significant decision, but that's precisely what Microsoft is doing. Microsoft CEO Steve Ballmer made headlines when he publicly attacked President Barack Obama's plan to cut tax breaks on U.S. companies' foreign profits, a plan which is currently awaiting Congressional approval.
  • Ballmer Says Tax Would Move Microsoft Jobs Offshore

    06/04/2009 12:36:39 PM PDT · by safetysign · 32 replies · 1,555+ views
    Financial Post ^ | 06/4/2009 | Ryan J. Donmoyer
    Microsoft Corp. chief executive Steven Ballmer said the world's largest software company would move some employees offshore if Congress enacts President Barack Obama's plans to impose higher taxes on U.S. companies' foreign profits. "It makes U.S. jobs more expensive," Mr. Ballmer said in an interview. "We're better off taking lots of people and moving them out of the U.S. as opposed to keeping them inside the U.S."
  • Expert: Volcanoes in Today's India Wiped Out Dinos

    05/07/2009 12:50:26 AM PDT · by nickcarraway · 7 replies · 2,026+ views
    Volcanoes that erupted in India about 65 million years ago were instrumental in the extinction of dinosaurs, according to new research. For the last thirty years scientists have believed a giant meteorite that struck Mexico’s Yucatan Peninsula was responsible for the mass extinction of dinosaurs, the Daily Telegraph reported on Wednesday. But now Gerta Keller, a geologist at Princeton University, New Jersey, says fossilised traces of plants and animals dug out of low lying hills at El Penon in northeast Mexico show this event happened 300,000 years after the dinosaurs disappeared. Keller suggests that the massive volcanic eruptions at the...