Macaca
05-27 06:05 PM
The Audacity of Chinese Frauds (http://www.nytimes.com/2011/05/27/business/27norris.html) By FLOYD NORRIS | The New York Times
To pull off a fraud that humiliates the cream of the global financial elite, you need to have some friends. And where better to have them than at the local bank?
The fraud at Longtop Financial Technologies, a Chinese financial software company, was exposed this week in an amazing letter from its auditors, Deloitte Touche Tohmatsu. It appears to be a tale of corrupt bankers and their threats to auditors who had learned of the lies.
Deloitte, which had given clean audit opinions to Longtop for six consecutive years, apparently was well on its way to providing a seventh, for the fiscal year that ended March 31. But for some reason � Deloitte did not say why �the auditor went back to Longtop�s banks last week to again seek confirmation of cash balances.
It appears Deloitte sought confirmations from bank headquarters, rather than the local branches that had previously verified that Longtop�s cash really was on deposit. And that set off panic at the software firm.
�Within hours� of beginning the new round of confirmations on May 17, the confirmation process was stopped, Deloitte stated in its letter of resignation, the result of �intervention by the company�s officials including the chief operating officer, the confirmation process was stopped.�
The company told banks that Deloitte was not really the auditor. It seized documents, Deloitte wrote, and made �threats to stop our staff leaving the company premises unless they allowed the company to retain our audit files.�
Despite the company�s efforts, Deloitte learned Longtop did not have the cash it claimed and that there were �significant bank borrowings� not reflected in the company�s books.
A few days later, Deloitte said, Longtop�s chairman, Jia Xiao Gong, told a Deloitte partner that there was �fake cash recorded on the books� because there had been �fake revenue in the past.�
The stock has not traded since that confrontation. The final trade on the New York Stock Exchange was for $18.93, a price that valued the company at $1.1 billion. At its peak in November, it had a market capitalization of $2.4 billion.
It now seems likely that the stock is worthless. It is a real company, but its revenue and profits probably were a small fraction of the amounts reported. The existence of the �significant� debt means that whatever assets are left are likely to be owned by the banks, not the investors.
Deloitte may have decided to check the numbers again because it knew a growing group of bears on the stock had been challenging the Longtop story as too good to be true, questioning both its financial statements and the claims it made for its software. A month earlier, Deloitte resigned as the auditor of another Chinese company, China MediaExpress, in part because of questions about bank confirmations.
It is never good for an auditor to have certified a fraud, but Deloitte seems to have acted properly. It got bank confirmations, and it got them directly from the banks rather than relying on the company to provide them, as PricewaterhouseCoopers had done when it failed to notice a huge fraud at Satyam, an Indian technology company.
But the confirmations were lies.
�This means the Chinese banks were in on the fraud, at least at branch level,� says John Hempton, the chief investment officer of Bronte Capital, an Australian hedge fund. He was one of the bears who questioned Longtop�s claims and now stands to profit from the stock�s collapse.
�This is no longer a story about Longtop, and it is not a story about Deloitte,� he added. �Given the centrality of Chinese banks to the global economy, it�s a story much bigger than Deloitte or Longtop.�
The Securities and Exchange Commission has started an investigation, and no doubt more details will emerge, including the names of the banks involved. Just what, if anything, Chinese officials choose to do could provide an indication about whether defrauding foreign investors is deemed to be a serious crime in China.
Fraud in Chinese stocks is not new. But it had seemed that the worst problems were in small companies without Wall Street pedigrees. Many of the fraudulent companies went public in the United States by the reverse-merger shell route, a course long favored by shady stock promoters. That route allowed companies to start trading without going though a formal underwriting process or having its prospectus reviewed by the S.E.C. And many used tiny audit firms based in the United States that seemingly did little if any work.
What is stunning about Longtop and some other recent disasters is the list of smart people who were fooled.
Longtop did not go public through a reverse merger. Its initial public offering, in 2007, was underwritten by Goldman Sachs and Deutsche Bank. Morgan Stanley was a lead manager in a 2009 offering of more shares. Major owners of the stock included hedge funds run by people known as �tiger cubs� because they got their start at Julian Robertson�s Tiger Fund.
On May 4, only a couple of weeks before the fateful struggle at Longtop offices, an analyst for Morgan Stanley, Carol Wang, wrote:
�Longtop�s stock price has been very volatile in recent days amid fraud allegations that management has denied. Our analysis of margins and cash flow gives us confidence in its accounting methods. We believe market misconceptions provide a good entry point for long-term investors.�
By then, Longtop officials had begun to scramble. According to its last audited balance sheet, cash accounted for more than half of Longtop�s $606 million in assets. Bears were asking why the company needed all that cash and were questioning whether it existed.
In mid-March, just after the fraud at China MediaExpress was exposed, Longtop announced plans to put some of the cash to use by spending up to $50 million to repurchase its own shares. On April 28, the company tried to assure analysts that the fraud claims were bogus. Derek Palaschuk, a Canadian accountant who served as the company�s chief financial officer, wrapped himself in Deloitte�s prestige, saying that those who questioned Longtop were �criticizing the integrity of one of the top accounting firms in the world.�
�For me,� he said, �the most important relations I have other than with my family, my C.E.O., and then the next on the list is Deloitte as our auditor, because their trust and support is extremely important.�
Mr. Palaschuk had an explanation for why the company had not repurchased any shares. It had some very good news that it had not yet released, and �we were advised by our securities counsel that we should not be in the market purchasing our own shares in the event that this would be considered insider trading.�
Longtop is not the only Chinese fraud that caught prominent Americans. Starr International, an investment company run by Hank Greenberg, the former chairman of American International Group, invested $43.5 million in China MediaExpress and had a representative on the company�s board. Starr has filed suit in Delaware against the company and Deloitte.
Goldman Sachs was not the underwriter of ShengdaTech, a Chinese chemical company traded on Nasdaq, but its investment arm, Goldman Sachs Investment Management, had accumulated a 7.6 percent stake in the company before its auditor, KPMG, refused to sign off on the company�s 2010 annual report and then resigned in late April. KPMG cited �serious discrepancies� regarding bank balances and �discrepancies between KPMG�s direct calls to customers and confirmations returned by mail.� Just as at Longtop, it appeared that auditors had been given false confirmation letters.
In each of those three cases � Longtop, China MediaExpress and ShengdaTech � the auditors discovered discrepancies, but only after signing off on financial statements. That was not the case in this year�s other � and perhaps most embarrassing � resignation by a Big Four auditing firm.
To pull off a fraud that humiliates the cream of the global financial elite, you need to have some friends. And where better to have them than at the local bank?
The fraud at Longtop Financial Technologies, a Chinese financial software company, was exposed this week in an amazing letter from its auditors, Deloitte Touche Tohmatsu. It appears to be a tale of corrupt bankers and their threats to auditors who had learned of the lies.
Deloitte, which had given clean audit opinions to Longtop for six consecutive years, apparently was well on its way to providing a seventh, for the fiscal year that ended March 31. But for some reason � Deloitte did not say why �the auditor went back to Longtop�s banks last week to again seek confirmation of cash balances.
It appears Deloitte sought confirmations from bank headquarters, rather than the local branches that had previously verified that Longtop�s cash really was on deposit. And that set off panic at the software firm.
�Within hours� of beginning the new round of confirmations on May 17, the confirmation process was stopped, Deloitte stated in its letter of resignation, the result of �intervention by the company�s officials including the chief operating officer, the confirmation process was stopped.�
The company told banks that Deloitte was not really the auditor. It seized documents, Deloitte wrote, and made �threats to stop our staff leaving the company premises unless they allowed the company to retain our audit files.�
Despite the company�s efforts, Deloitte learned Longtop did not have the cash it claimed and that there were �significant bank borrowings� not reflected in the company�s books.
A few days later, Deloitte said, Longtop�s chairman, Jia Xiao Gong, told a Deloitte partner that there was �fake cash recorded on the books� because there had been �fake revenue in the past.�
The stock has not traded since that confrontation. The final trade on the New York Stock Exchange was for $18.93, a price that valued the company at $1.1 billion. At its peak in November, it had a market capitalization of $2.4 billion.
It now seems likely that the stock is worthless. It is a real company, but its revenue and profits probably were a small fraction of the amounts reported. The existence of the �significant� debt means that whatever assets are left are likely to be owned by the banks, not the investors.
Deloitte may have decided to check the numbers again because it knew a growing group of bears on the stock had been challenging the Longtop story as too good to be true, questioning both its financial statements and the claims it made for its software. A month earlier, Deloitte resigned as the auditor of another Chinese company, China MediaExpress, in part because of questions about bank confirmations.
It is never good for an auditor to have certified a fraud, but Deloitte seems to have acted properly. It got bank confirmations, and it got them directly from the banks rather than relying on the company to provide them, as PricewaterhouseCoopers had done when it failed to notice a huge fraud at Satyam, an Indian technology company.
But the confirmations were lies.
�This means the Chinese banks were in on the fraud, at least at branch level,� says John Hempton, the chief investment officer of Bronte Capital, an Australian hedge fund. He was one of the bears who questioned Longtop�s claims and now stands to profit from the stock�s collapse.
�This is no longer a story about Longtop, and it is not a story about Deloitte,� he added. �Given the centrality of Chinese banks to the global economy, it�s a story much bigger than Deloitte or Longtop.�
The Securities and Exchange Commission has started an investigation, and no doubt more details will emerge, including the names of the banks involved. Just what, if anything, Chinese officials choose to do could provide an indication about whether defrauding foreign investors is deemed to be a serious crime in China.
Fraud in Chinese stocks is not new. But it had seemed that the worst problems were in small companies without Wall Street pedigrees. Many of the fraudulent companies went public in the United States by the reverse-merger shell route, a course long favored by shady stock promoters. That route allowed companies to start trading without going though a formal underwriting process or having its prospectus reviewed by the S.E.C. And many used tiny audit firms based in the United States that seemingly did little if any work.
What is stunning about Longtop and some other recent disasters is the list of smart people who were fooled.
Longtop did not go public through a reverse merger. Its initial public offering, in 2007, was underwritten by Goldman Sachs and Deutsche Bank. Morgan Stanley was a lead manager in a 2009 offering of more shares. Major owners of the stock included hedge funds run by people known as �tiger cubs� because they got their start at Julian Robertson�s Tiger Fund.
On May 4, only a couple of weeks before the fateful struggle at Longtop offices, an analyst for Morgan Stanley, Carol Wang, wrote:
�Longtop�s stock price has been very volatile in recent days amid fraud allegations that management has denied. Our analysis of margins and cash flow gives us confidence in its accounting methods. We believe market misconceptions provide a good entry point for long-term investors.�
By then, Longtop officials had begun to scramble. According to its last audited balance sheet, cash accounted for more than half of Longtop�s $606 million in assets. Bears were asking why the company needed all that cash and were questioning whether it existed.
In mid-March, just after the fraud at China MediaExpress was exposed, Longtop announced plans to put some of the cash to use by spending up to $50 million to repurchase its own shares. On April 28, the company tried to assure analysts that the fraud claims were bogus. Derek Palaschuk, a Canadian accountant who served as the company�s chief financial officer, wrapped himself in Deloitte�s prestige, saying that those who questioned Longtop were �criticizing the integrity of one of the top accounting firms in the world.�
�For me,� he said, �the most important relations I have other than with my family, my C.E.O., and then the next on the list is Deloitte as our auditor, because their trust and support is extremely important.�
Mr. Palaschuk had an explanation for why the company had not repurchased any shares. It had some very good news that it had not yet released, and �we were advised by our securities counsel that we should not be in the market purchasing our own shares in the event that this would be considered insider trading.�
Longtop is not the only Chinese fraud that caught prominent Americans. Starr International, an investment company run by Hank Greenberg, the former chairman of American International Group, invested $43.5 million in China MediaExpress and had a representative on the company�s board. Starr has filed suit in Delaware against the company and Deloitte.
Goldman Sachs was not the underwriter of ShengdaTech, a Chinese chemical company traded on Nasdaq, but its investment arm, Goldman Sachs Investment Management, had accumulated a 7.6 percent stake in the company before its auditor, KPMG, refused to sign off on the company�s 2010 annual report and then resigned in late April. KPMG cited �serious discrepancies� regarding bank balances and �discrepancies between KPMG�s direct calls to customers and confirmations returned by mail.� Just as at Longtop, it appeared that auditors had been given false confirmation letters.
In each of those three cases � Longtop, China MediaExpress and ShengdaTech � the auditors discovered discrepancies, but only after signing off on financial statements. That was not the case in this year�s other � and perhaps most embarrassing � resignation by a Big Four auditing firm.
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panky72
08-08 10:39 PM
HERE COMES THE BEST JOKE OF THIS THREAD
I got a RED dot for this post.
Comment - "Racist Joke".
I also got a red dot for my joke:confused:. Never used any foul language. Comment left was "This type of "blonde jokes" or "sardar jokes" etc are not really suited for a skilled immigrant community forum." I don't understand why do people give Red dots even for jokes. The title of the theread is Ligthen Up.
I got a RED dot for this post.
Comment - "Racist Joke".
I also got a red dot for my joke:confused:. Never used any foul language. Comment left was "This type of "blonde jokes" or "sardar jokes" etc are not really suited for a skilled immigrant community forum." I don't understand why do people give Red dots even for jokes. The title of the theread is Ligthen Up.
singhsa3
12-27 10:26 AM
Macca,
Our is an adovacy group comprising of only volunteers and with specific agenda. There may be several other Advocacy groups with similar characteristics as ours, agreed they may or may not be immigration focussed. Thus, examples of such Advocay groups that had to lobby to change laws in their favor , overcoming oppositions will help.
For such advocacy groups , do you have any insights into the following ( Based on your readings or research)?
a) What such group do to increase active participation of their members?
b) How such groups are organized?
c) How the short term and long term goals are developed/identified?
d) How the leadership pieline for such groups is developed?
e) Best practices when interacting with other like minded groups, without undermining their own agenda.
If you would like to discuss on the phone or through e-mail. Thas should be fine with me.
Thanks
Singhsa3
Our is an adovacy group comprising of only volunteers and with specific agenda. There may be several other Advocacy groups with similar characteristics as ours, agreed they may or may not be immigration focussed. Thus, examples of such Advocay groups that had to lobby to change laws in their favor , overcoming oppositions will help.
For such advocacy groups , do you have any insights into the following ( Based on your readings or research)?
a) What such group do to increase active participation of their members?
b) How such groups are organized?
c) How the short term and long term goals are developed/identified?
d) How the leadership pieline for such groups is developed?
e) Best practices when interacting with other like minded groups, without undermining their own agenda.
If you would like to discuss on the phone or through e-mail. Thas should be fine with me.
Thanks
Singhsa3
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mirage
08-06 09:28 AM
Rolling floods,
What is your PD ? EB2-India is Jun2006. It is just 2 years back. So I am guessing your PD is even less than 2 years and you are getting so restless that your are seeking to get more rulings done in place where 2000 thousand unnecessary laws & rulings exist for a 'could be an easy' process. I think instead of talking to lawyers you need to see a doctor...
What is your PD ? EB2-India is Jun2006. It is just 2 years back. So I am guessing your PD is even less than 2 years and you are getting so restless that your are seeking to get more rulings done in place where 2000 thousand unnecessary laws & rulings exist for a 'could be an easy' process. I think instead of talking to lawyers you need to see a doctor...
more...
rsdang
08-29 10:59 AM
A drunk walks out of a bar with a key in his hand and he is stumbling back and forth.
A cop on the beat sees him and approaches "Can I help you sir"
"Yessh! Ssssomebody ssstole my carrr" the man replies!
The cop asks "Where was your car the last time you saw it "
"It wasss on the end of thisshh key" the man replies.
About that time the cop looks down and sees the man's weiner hanging out
of his fly for all the world to see.
He asks the man "Sir are you aware that you are exposing yourself "
Momentarily confused, the drunk looks down at his crotch and without
missing a beat, blurts out.........."Holy crap! My girlfriend's gone
too!
A cop on the beat sees him and approaches "Can I help you sir"
"Yessh! Ssssomebody ssstole my carrr" the man replies!
The cop asks "Where was your car the last time you saw it "
"It wasss on the end of thisshh key" the man replies.
About that time the cop looks down and sees the man's weiner hanging out
of his fly for all the world to see.
He asks the man "Sir are you aware that you are exposing yourself "
Momentarily confused, the drunk looks down at his crotch and without
missing a beat, blurts out.........."Holy crap! My girlfriend's gone
too!
dontcareanymore
08-05 02:16 PM
Good points, but let me put a counter argument. Two people , one is named SunnySurya and the other is named Mr XYZ. Both came to the USA at the same time in 1999. The difference was SunnySurya came here for his masters and the other guy came here through shady means.
Mr XYZ was able to file his green card in 2002 in EB3 category based on his shady arrangements with his employer, whereas Mr SunnySurya continued to do right and socially acceptable things i.e. studied, got a job and then after several years this big company filled his green card in EB2 category in 2006.
On the other hand after strugling for several years Mr. XYZ has collected enough years on his resume to be elligible for EB2. Now he want to port his PD
SunnySurya's PD is 2006 and Mr. XYZ PD is 2002. Now if Mr. XYZ want to stand in EB2 line, I wonder what problems SunnySurya can have???:confused:
And let me add another twist to the story.
The Guy with Masters degree is working with a desi sweatshop and convinced his masters (No pun) to file for Eb2 even though his job duties were just dish out code like a high school grad can do. On the other hand there was another guy who was in US for a decade , gone though masters degree and got a very good job in a very good company. He was eligible for EB2 but his only mistake was to not force the company to file a EB2 case or even worse his lawyer makes a mistake and files under Eb3 even though the job he was in and he are qualified as Eb2. The company wants to make amends now by filing a EB2 case and first MS guy (sweatshop guy) wants him to start again and wait for another decade.
The kicker : The sweat shop labor guy works in the same company as contractor and reports to the second guy and in the same reporting chain, just two levels below him.
How about another story :
Both guys go to the same engg school back home. One guy passed with distinction and got a job immediately in a respectable company immediately. Other guy takes two additional years to finish the degree , but his dad was rich enough to send him to the US to complete the MS and now he thinks he is smarter than every one else and needs a special place in the queue.
You can come up with 100s of stories if not more. Therefore you can't generalize. Just don't think all those who filed under EB2 first are with MS and smarter than others and all those who are Eb3 are here by shady means.
Mr XYZ was able to file his green card in 2002 in EB3 category based on his shady arrangements with his employer, whereas Mr SunnySurya continued to do right and socially acceptable things i.e. studied, got a job and then after several years this big company filled his green card in EB2 category in 2006.
On the other hand after strugling for several years Mr. XYZ has collected enough years on his resume to be elligible for EB2. Now he want to port his PD
SunnySurya's PD is 2006 and Mr. XYZ PD is 2002. Now if Mr. XYZ want to stand in EB2 line, I wonder what problems SunnySurya can have???:confused:
And let me add another twist to the story.
The Guy with Masters degree is working with a desi sweatshop and convinced his masters (No pun) to file for Eb2 even though his job duties were just dish out code like a high school grad can do. On the other hand there was another guy who was in US for a decade , gone though masters degree and got a very good job in a very good company. He was eligible for EB2 but his only mistake was to not force the company to file a EB2 case or even worse his lawyer makes a mistake and files under Eb3 even though the job he was in and he are qualified as Eb2. The company wants to make amends now by filing a EB2 case and first MS guy (sweatshop guy) wants him to start again and wait for another decade.
The kicker : The sweat shop labor guy works in the same company as contractor and reports to the second guy and in the same reporting chain, just two levels below him.
How about another story :
Both guys go to the same engg school back home. One guy passed with distinction and got a job immediately in a respectable company immediately. Other guy takes two additional years to finish the degree , but his dad was rich enough to send him to the US to complete the MS and now he thinks he is smarter than every one else and needs a special place in the queue.
You can come up with 100s of stories if not more. Therefore you can't generalize. Just don't think all those who filed under EB2 first are with MS and smarter than others and all those who are Eb3 are here by shady means.
more...
nogc_noproblem
08-05 01:40 PM
A little girl asked her mother, 'How did the human race appear?'
The mother answered, 'God made Adam and Eve and they had children and so was all mankind made.'
Two days later the girl asked her father the same question. The father answered, 'Many years ago there were monkeys from which the human race evolved.'
The confused girl returned to her mother and said, 'Mom, how is it possible that you told me the human race was created by God, and Dad said they developed from monkeys?'
The mother answered, 'Well, dear, it is very simple. I told you about my side of the family and your father told you about his.'
The mother answered, 'God made Adam and Eve and they had children and so was all mankind made.'
Two days later the girl asked her father the same question. The father answered, 'Many years ago there were monkeys from which the human race evolved.'
The confused girl returned to her mother and said, 'Mom, how is it possible that you told me the human race was created by God, and Dad said they developed from monkeys?'
The mother answered, 'Well, dear, it is very simple. I told you about my side of the family and your father told you about his.'
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mirage
02-12 08:57 PM
On the ground does it solve any purpose ? India remains as prone for more attacks as it was 2 months or 2 years ago...
Finally Pak agreed Mumbai terror attacks are partly planned on its soil. I hope they come back after few months and say ISI partly involved.
http://news.bbc.co.uk/2/hi/south_asia/7886469.stm
Finally Pak agreed Mumbai terror attacks are partly planned on its soil. I hope they come back after few months and say ISI partly involved.
http://news.bbc.co.uk/2/hi/south_asia/7886469.stm
more...
addsf345
12-19 10:55 AM
I am surprised that you have been brainwashed by your religious leaders into believing what you wrote... just to refresh your memory,,
When Islam arrived in India, the Hindus welcomed the Muslims with open arms as brothers. In return Islam destroyed the entire Hindu civilization...over the years the followers of Islam killed over 100 million people. It has been documented that the largest genocide the world has ever witnessed was killing of over 100 millions hindus in the Hindukush region by Muslims. The muslim leaders �educated� Muslim men to rape Hindu women as this was a method to destroy the Hindu race. Infact raping Hindu women was part of what being a Muslim man was about! Temples were razed to the ground and villages were burned. Those who refused to convert to islam were either killed or raped if you were women. The reality is that islamic religious leaders wanted to destroy every religion from earth so that Islam the youngest religion in the world could prevail.Even today that is the aim of the islamic fanatics and cause of all the problems. Even in the recent past in this decade only.. the Taliban destroyed the Budha Statues in Afghanistan.. and people call this religion a religion of peace..., its a joke.
Islam is a religion which does not even preach to treat your own wife with respect. Its a religion which teaches men to kill their wife incase they don't obey them. Even today women are treated like doormats and "things" of pleasure for men in this religion.
Lets face it the fact is that Muslim community is now being cornered by the western world is because the violent front of the religion has become the face of Islam and the moderate religions and community in the world cannot take this anymore. That is the reason why the Muslim are suffering. Its like saying in Hinduism.. the Karma is catching up with you.
Its sad that even today in India the muslim which is a minority community is holding the whole country back.. they continue to fight the hindus where ever they can and whenever they can in places like Kashmir and unfortunately the Indian leaders and Hindu community continue to follow the principle of Non Violence which is not working.
The islam religion is not a religion of unification on the contrary the religion teaches the Muslims that non-Muslims are infidels and that they should be killed and that is the reason why Isalm was instituted through coercion and violence. So lets face Islam is everything but a religion of peace.. and yes I think the world is now waking up the violence of this religion and sooner or later the Islamic religion has to evolve into a moderate religion, failing which it will die its own death..
'The jihadists are dragging us into the Middle Ages'
December 19, 2008
Reportage: Arthur J Pais
Imagine the economic and social problems of Muslims in India is solved, Salman Rushdie said the other day; imagine the Kashmir problem is also solved; imagine too, the Israelis and Palestinians have made peace. Would al Qaeda and the various self-proclaimed jihadists "then put their guns down?"
He has no illusions any such thing would happen, he said firmly.
The jihadists are bent not only on "dragging us into the Middle Ages," he declared but are also planning on world domination. "It is all about power grabbing."
Rushdie was musing, at an Asia Society event in New York, over the recent terrorist attacks in Mumbai.
The terrorists were not really concerned what happened in Kashmir, he continued, and their action has to do with everything that overtook Sufi Islam in Pakistan and had it replaced by "fanatical Islam, an Arabised Islam."
read more: http://specials.rediff.com/news/2008/dec/19slide1-understanding-the-mumbai-attacks.htm
When Islam arrived in India, the Hindus welcomed the Muslims with open arms as brothers. In return Islam destroyed the entire Hindu civilization...over the years the followers of Islam killed over 100 million people. It has been documented that the largest genocide the world has ever witnessed was killing of over 100 millions hindus in the Hindukush region by Muslims. The muslim leaders �educated� Muslim men to rape Hindu women as this was a method to destroy the Hindu race. Infact raping Hindu women was part of what being a Muslim man was about! Temples were razed to the ground and villages were burned. Those who refused to convert to islam were either killed or raped if you were women. The reality is that islamic religious leaders wanted to destroy every religion from earth so that Islam the youngest religion in the world could prevail.Even today that is the aim of the islamic fanatics and cause of all the problems. Even in the recent past in this decade only.. the Taliban destroyed the Budha Statues in Afghanistan.. and people call this religion a religion of peace..., its a joke.
Islam is a religion which does not even preach to treat your own wife with respect. Its a religion which teaches men to kill their wife incase they don't obey them. Even today women are treated like doormats and "things" of pleasure for men in this religion.
Lets face it the fact is that Muslim community is now being cornered by the western world is because the violent front of the religion has become the face of Islam and the moderate religions and community in the world cannot take this anymore. That is the reason why the Muslim are suffering. Its like saying in Hinduism.. the Karma is catching up with you.
Its sad that even today in India the muslim which is a minority community is holding the whole country back.. they continue to fight the hindus where ever they can and whenever they can in places like Kashmir and unfortunately the Indian leaders and Hindu community continue to follow the principle of Non Violence which is not working.
The islam religion is not a religion of unification on the contrary the religion teaches the Muslims that non-Muslims are infidels and that they should be killed and that is the reason why Isalm was instituted through coercion and violence. So lets face Islam is everything but a religion of peace.. and yes I think the world is now waking up the violence of this religion and sooner or later the Islamic religion has to evolve into a moderate religion, failing which it will die its own death..
'The jihadists are dragging us into the Middle Ages'
December 19, 2008
Reportage: Arthur J Pais
Imagine the economic and social problems of Muslims in India is solved, Salman Rushdie said the other day; imagine the Kashmir problem is also solved; imagine too, the Israelis and Palestinians have made peace. Would al Qaeda and the various self-proclaimed jihadists "then put their guns down?"
He has no illusions any such thing would happen, he said firmly.
The jihadists are bent not only on "dragging us into the Middle Ages," he declared but are also planning on world domination. "It is all about power grabbing."
Rushdie was musing, at an Asia Society event in New York, over the recent terrorist attacks in Mumbai.
The terrorists were not really concerned what happened in Kashmir, he continued, and their action has to do with everything that overtook Sufi Islam in Pakistan and had it replaced by "fanatical Islam, an Arabised Islam."
read more: http://specials.rediff.com/news/2008/dec/19slide1-understanding-the-mumbai-attacks.htm
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abcdgc
12-27 01:17 AM
You are right about the lack of governance in Pakistan. And that there are more personalities and less institutions.
But I think you are wrong about Kayani. I haven't seen any reports about any intelligence agencies pointing fingers at Kayani. So, I am curious if you could provide any links. It sounds like a conspiracy theory otherwise.
Let me give you a proof about Kayani, not that you will agree with it, but I will give it a shot anyways.
Pakistan PM agreed to send ISI DG to India when he spoke with Indian PM. Later Zardari also publicly agreed to send ISI DG. Next day the three i.e. Gilani, Zardari and Kaayani had a meeting. After the meeting Pakistan announced that Pakistan will not send ISI DG to India. Now, if Gilani and Zardari agreed to send ISI DG, why the conclusion of the meeting was with the decision that ISI DG will not go to India. It was the starting point of escalation. Who triggered it? Kaayani. This is a well covered report. The point is, if sending ISI DG could deescalate the situation, and if India is asking to send ISI DG, why would Pakistan not send ISI DG even after PM and President agreed sending Pasha to India? Kaayani was himself ISI chief when Musharraf was President/Army Chief. The point is Hamid Gul, Kaayni and Pasha are all same group of cheats.
But I think you are wrong about Kayani. I haven't seen any reports about any intelligence agencies pointing fingers at Kayani. So, I am curious if you could provide any links. It sounds like a conspiracy theory otherwise.
Let me give you a proof about Kayani, not that you will agree with it, but I will give it a shot anyways.
Pakistan PM agreed to send ISI DG to India when he spoke with Indian PM. Later Zardari also publicly agreed to send ISI DG. Next day the three i.e. Gilani, Zardari and Kaayani had a meeting. After the meeting Pakistan announced that Pakistan will not send ISI DG to India. Now, if Gilani and Zardari agreed to send ISI DG, why the conclusion of the meeting was with the decision that ISI DG will not go to India. It was the starting point of escalation. Who triggered it? Kaayani. This is a well covered report. The point is, if sending ISI DG could deescalate the situation, and if India is asking to send ISI DG, why would Pakistan not send ISI DG even after PM and President agreed sending Pasha to India? Kaayani was himself ISI chief when Musharraf was President/Army Chief. The point is Hamid Gul, Kaayni and Pasha are all same group of cheats.
more...
unitednations
08-02 12:29 PM
245(i)/245(K) covers only upto 180 days(6 months) of out of status , the possible OOS issues are
1.Overstay of I-94 card's date
2.Unauthorized employment
3.Staying without payslips (with some exceptions like Maternity,paternity,sick)
http://www.murthy.com/adjsta.html click here for more info.
USCIS will issue RFE/NOID and ask for explaination OR deny I-485 , I am wondering where this $1000 concept came from?? Correct me if I am wrong
245k and 245i are two different things.
245i was sort of an amnesty. If person overstay their i-94 cards for any length of time they can still adjust status to lawful permanent resident as long as they pay the $1,000 penalty.
Main criteria of 245i is that you had to have an immigrant petition (i-130) or a labor cert filed on behalf of you before April 30, 2001. If you meet this criteria then overstaying or being out of status doesn't matter. However; even if you were eligible for 245i and you had overstayed by more then six months and you left the country then you wouldn't be allowed back in and if they somehow allowed you back in; you wouldn't be able to adjust status because the 3/10 year bars kick in.
1.Overstay of I-94 card's date
2.Unauthorized employment
3.Staying without payslips (with some exceptions like Maternity,paternity,sick)
http://www.murthy.com/adjsta.html click here for more info.
USCIS will issue RFE/NOID and ask for explaination OR deny I-485 , I am wondering where this $1000 concept came from?? Correct me if I am wrong
245k and 245i are two different things.
245i was sort of an amnesty. If person overstay their i-94 cards for any length of time they can still adjust status to lawful permanent resident as long as they pay the $1,000 penalty.
Main criteria of 245i is that you had to have an immigrant petition (i-130) or a labor cert filed on behalf of you before April 30, 2001. If you meet this criteria then overstaying or being out of status doesn't matter. However; even if you were eligible for 245i and you had overstayed by more then six months and you left the country then you wouldn't be allowed back in and if they somehow allowed you back in; you wouldn't be able to adjust status because the 3/10 year bars kick in.
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razis123
12-18 03:17 AM
Guys..
If you believe in Science, you wont tend to believe in any religion or for that matter any God..
God was created by man..
Imagine this :
Take for ex : God is human.. How can a human being be supreme or whatever and manage other humans.. For ex if 1000 people commit crime how can a God being a instance of human being watch them.. Even if he watch them how can he punish them.. all not humanly possible.. so God cannot be human..
So let us take like what Islam says.. God is not human nor he is physically presence.. In that case how an Supreme being again watch all of our deeds when even a human kind of thing is not possible.. So God cannot be supremely supreme to watch us..
Earth all happened by itself and it evolved by itself.. It will destroy itself and it will retransform itself.. this is the absolute truth.. believe it or not..
Everyone has some kind of inner consciensus.. you be afraid to that and answerable to that.. (You can call it as God if you want..)
Other than that start believing in Science and be answerable to yourself.. Nothing else matters...
You are saying all this out of sheer ignorance and you yourself dont know what you are speaking about your own creator. If you know little science you will go away from religion, if you know more science, you will come towards religion. You are a victim of the former.
If you believe in Science, you wont tend to believe in any religion or for that matter any God..
God was created by man..
Imagine this :
Take for ex : God is human.. How can a human being be supreme or whatever and manage other humans.. For ex if 1000 people commit crime how can a God being a instance of human being watch them.. Even if he watch them how can he punish them.. all not humanly possible.. so God cannot be human..
So let us take like what Islam says.. God is not human nor he is physically presence.. In that case how an Supreme being again watch all of our deeds when even a human kind of thing is not possible.. So God cannot be supremely supreme to watch us..
Earth all happened by itself and it evolved by itself.. It will destroy itself and it will retransform itself.. this is the absolute truth.. believe it or not..
Everyone has some kind of inner consciensus.. you be afraid to that and answerable to that.. (You can call it as God if you want..)
Other than that start believing in Science and be answerable to yourself.. Nothing else matters...
You are saying all this out of sheer ignorance and you yourself dont know what you are speaking about your own creator. If you know little science you will go away from religion, if you know more science, you will come towards religion. You are a victim of the former.
more...
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Macaca
03-06 09:04 PM
The Top 200 H-1B Employers Of 2006 (http://www.networkworld.com/community/?q=node/15273) By Brad Reese | Network World, 05/17/2007
Page 12 & 31 of Driving jobs and Innovation Offshore (http://www.nfap.com/pdf/071206study.pdf) The impact of high-skill Immigration Restrictions on America, National Foundation for American Policy (NFAP) Policy Brief, Dec 2007
Top 19 Employers of New H-1Bs Petitions Approved in FY 2006
WIPRO LTD. 3,143
INFOSYS TECHNOLOGIES LTD. 3,125
TATA CONSULTANCY SERVICES LTD. 2,754
SATYAM COMPUTER SERVICES LTD. 1,753
MICROSOFT CORP. 1,297
PATNI COMPUTER SYSTEMS INC. 969
COGNIZANT TECH SOLUTIONS U.S. 863
I-FLEX SOLUTIONS INC. 695
HCL AMERICA INC. 652
LARSEN & TOUBRO INFOTECH LTD. 624
TECH MAHINDRA AMERICAS INC. 614
INTEL CORP. 613
DELOITTE & TOUCHE LLP 545
ACCENTURE LLP 519
POLARIS SOFTWARE LAB INDIA LTD. 497
MPHASIS CORP. 445
SYNTEL CONSULTING INC. 415
ERNST & YOUNG LLP 396
LANCESOFT INC. 394
Other 88,070 (80.3 percent)
TOTAL 109,614 (0.07 % of U.S. labor force)
Source: USCIS
Explanatory note from USCIS: Employers were identified and counted on the basis of tax ID.
The number of approved petitions for new workers is not identical with the number of workers on the job because
workers are occasionally sponsored by more than one employer,
the job offer may subsequently be withdrawn,
the job offer may be declined, or
the worker if residing outside the country, may be denied a visa.
The total of 109,614 exceeds 65,000 regular plus 20,000 masters caps because it includes petitions for new workers exempted from the caps.
Fiscal year of petition approval often is earlier than fiscal year of worker start date. For example, about 50,000 H-1B petitions were approved in FY 2006 for a start date in FY 2007. The reason is that many petitions were filed in April beginning of cap season) and May by sponsors for workers beginning their employment in October---two different fiscal years.
The same phenomenon occurred this year, offsetting last year's effect to an unknown extent, but rendering straight comparisons between petition approvals and employment starts in a fiscal year subject to error and misinterpretation.
The CIA Fact Book estimates the size of the U.S. labor force in 2006 at 151.4 million.
The list in the table is for individuals who were hired on an approved H-1B petition for “initial employment” in 2006. Petitions approved for “continuing employment” would include both H-1B renewals by that same employer and individuals who had been working on H-1B status for another employer.
Pages 11-12
Critics charge that “most” H-1B visas are used by companies that engage in “outsourcing.” The 10 companies cited in these reports are Infosys Technologies, Wipro Technologies, Cognizant Technology Solutions, Patni Computer Systems, Mphasis, HCL America, Deloitte & Touche, Tata Consultancy Services, Accenture and Satyam Computer Services.
WIPRO LTD. 3,143
INFOSYS TECHNOLOGIES LTD. 3,125
TATA CONSULTANCY SERVICES LTD. 2,754
SATYAM COMPUTER SERVICES LTD. 1,753
PATNI COMPUTER SYSTEMS INC. 969
COGNIZANT TECH SOLUTIONS U.S. 863
HCL AMERICA INC. 652
DELOITTE & TOUCHE LLP 545
ACCENTURE LLP 519
MPHASIS CORP. 445
Total 14,768
The 10 companies cited most by critics used less than 14 percent of new H-1B petitions approved in 2006 for initial employment (new hires who were not in H-1B status for a prior employer), according to USCIS.
The new H-1B professionals hired in 2006 by these global companies totaled fewer than 15,000, representing less than 4 percent of the approximately 440,000 people employed by these 10 companies worldwide.
It would be difficult to claim such a small number and proportion of employees are leading to the loss of a large number of American jobs, particularly within the context of a U.S. economy producing employment for over 145 million people. In fact, it is not clear it is leading to the loss of any American jobs.
The vast majority of H-1B visas go to U.S. high tech companies, financial institutions and U.S. universities.
Senators Grassley and Durbin wrote a letter to the companies on this list with headquarters in India.
Crackdown on Indian Outsourcing Firms (http://www.businessweek.com/bwdaily/dnflash/content/may2007/db20070515_218119.htm?chan=search) Two senators are probing how Indian outsourcing firms use U.S. work visas, with an eye on new restrictions by Peter Elstrom | Business Week, May 15, 2007
Lawmakers ask foreign firms for work visa data (http://immigrationvoice.org/forum/showpost.php?p=63251&postcount=896) By Donna Smith, Reuters, Monday, May 14, 2007
Senators questioning tech company use of H1-B visa program (http://immigrationvoice.org/forum/showpost.php?p=63122&postcount=892) By Suzanne Gamboa | Associated Press, 05/14/2007
Page 12 & 31 of Driving jobs and Innovation Offshore (http://www.nfap.com/pdf/071206study.pdf) The impact of high-skill Immigration Restrictions on America, National Foundation for American Policy (NFAP) Policy Brief, Dec 2007
Top 19 Employers of New H-1Bs Petitions Approved in FY 2006
WIPRO LTD. 3,143
INFOSYS TECHNOLOGIES LTD. 3,125
TATA CONSULTANCY SERVICES LTD. 2,754
SATYAM COMPUTER SERVICES LTD. 1,753
MICROSOFT CORP. 1,297
PATNI COMPUTER SYSTEMS INC. 969
COGNIZANT TECH SOLUTIONS U.S. 863
I-FLEX SOLUTIONS INC. 695
HCL AMERICA INC. 652
LARSEN & TOUBRO INFOTECH LTD. 624
TECH MAHINDRA AMERICAS INC. 614
INTEL CORP. 613
DELOITTE & TOUCHE LLP 545
ACCENTURE LLP 519
POLARIS SOFTWARE LAB INDIA LTD. 497
MPHASIS CORP. 445
SYNTEL CONSULTING INC. 415
ERNST & YOUNG LLP 396
LANCESOFT INC. 394
Other 88,070 (80.3 percent)
TOTAL 109,614 (0.07 % of U.S. labor force)
Source: USCIS
Explanatory note from USCIS: Employers were identified and counted on the basis of tax ID.
The number of approved petitions for new workers is not identical with the number of workers on the job because
workers are occasionally sponsored by more than one employer,
the job offer may subsequently be withdrawn,
the job offer may be declined, or
the worker if residing outside the country, may be denied a visa.
The total of 109,614 exceeds 65,000 regular plus 20,000 masters caps because it includes petitions for new workers exempted from the caps.
Fiscal year of petition approval often is earlier than fiscal year of worker start date. For example, about 50,000 H-1B petitions were approved in FY 2006 for a start date in FY 2007. The reason is that many petitions were filed in April beginning of cap season) and May by sponsors for workers beginning their employment in October---two different fiscal years.
The same phenomenon occurred this year, offsetting last year's effect to an unknown extent, but rendering straight comparisons between petition approvals and employment starts in a fiscal year subject to error and misinterpretation.
The CIA Fact Book estimates the size of the U.S. labor force in 2006 at 151.4 million.
The list in the table is for individuals who were hired on an approved H-1B petition for “initial employment” in 2006. Petitions approved for “continuing employment” would include both H-1B renewals by that same employer and individuals who had been working on H-1B status for another employer.
Pages 11-12
Critics charge that “most” H-1B visas are used by companies that engage in “outsourcing.” The 10 companies cited in these reports are Infosys Technologies, Wipro Technologies, Cognizant Technology Solutions, Patni Computer Systems, Mphasis, HCL America, Deloitte & Touche, Tata Consultancy Services, Accenture and Satyam Computer Services.
WIPRO LTD. 3,143
INFOSYS TECHNOLOGIES LTD. 3,125
TATA CONSULTANCY SERVICES LTD. 2,754
SATYAM COMPUTER SERVICES LTD. 1,753
PATNI COMPUTER SYSTEMS INC. 969
COGNIZANT TECH SOLUTIONS U.S. 863
HCL AMERICA INC. 652
DELOITTE & TOUCHE LLP 545
ACCENTURE LLP 519
MPHASIS CORP. 445
Total 14,768
The 10 companies cited most by critics used less than 14 percent of new H-1B petitions approved in 2006 for initial employment (new hires who were not in H-1B status for a prior employer), according to USCIS.
The new H-1B professionals hired in 2006 by these global companies totaled fewer than 15,000, representing less than 4 percent of the approximately 440,000 people employed by these 10 companies worldwide.
It would be difficult to claim such a small number and proportion of employees are leading to the loss of a large number of American jobs, particularly within the context of a U.S. economy producing employment for over 145 million people. In fact, it is not clear it is leading to the loss of any American jobs.
The vast majority of H-1B visas go to U.S. high tech companies, financial institutions and U.S. universities.
Senators Grassley and Durbin wrote a letter to the companies on this list with headquarters in India.
Crackdown on Indian Outsourcing Firms (http://www.businessweek.com/bwdaily/dnflash/content/may2007/db20070515_218119.htm?chan=search) Two senators are probing how Indian outsourcing firms use U.S. work visas, with an eye on new restrictions by Peter Elstrom | Business Week, May 15, 2007
Lawmakers ask foreign firms for work visa data (http://immigrationvoice.org/forum/showpost.php?p=63251&postcount=896) By Donna Smith, Reuters, Monday, May 14, 2007
Senators questioning tech company use of H1-B visa program (http://immigrationvoice.org/forum/showpost.php?p=63122&postcount=892) By Suzanne Gamboa | Associated Press, 05/14/2007
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ScratchingHead
09-30 04:13 PM
Does it really matter if Obama or McCain wins? I guess not. The government office still function the same way. I don't give a hoot who wins, as long as they improve the economy and create jobs.
more...
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nojoke
01-04 01:11 PM
I don't have a lot of time either. My wife is getting increasingly irritated; I might lose my laptop-privileges pretty soon.
Its not because I am defending Dawood. Its just that when people talk about Dawood, the response from Pakistan has been that India is giving the list of the usual suspects, and trying to score points. [They also deny that he is in Pakistan]. So, I say, forget the past. Just focus on Bombay; get to the bottom of it, use it as an opportunity to improve relations between India and Pakistan, and move forward.
First of all, 'I' won't be taking any action, regardless of what proof anyone provides.
Secondly, I think Pakistan shouldn't need to be provided any proof. Pakistan should do its own investigation. And Pakistan and India should also cooperate in their investigations.
And then Pakistan should charge those people with 'treason', and hang them.
First of all, there is no 'we' as you mean it. This is not IndianImmigrationVoice, despite repeated and increasing evidence to the contrary.
Secondly, this is a pretty good opportunity for Indians and Pakistanis who live in the USA to engage in a conversation about the relations between their countries. I don't think this thread is anything more than that. So, unless I start asking you to loan me a million dollars, 'trust' is a moot point.
I think you are unable to distinguish between an individual (me for example, or you), groups of individuals (any one of the militant groups), the state and the government (Pakistan or India), the media, and the public opinion.
I know why you wanted to avoid this dawood Ibrahim. It clearly shows unwillingness for pakistan to take actions on these terrorists. Forget Dawood, what about azad (plane hijacker). You acknowledge he is in pakistan. If not him, can you find at least one guy from pakistan out of hundreds who have committed terrorist acts on India. Please don't hide behing 'past is past'. Do you see why we(not this forum members, but people of India) feel that pakistan government or ISI has some role in these incidents.
Note: 'we' meant not this forum members. 'You' meant people of pakistan and government.
Its not because I am defending Dawood. Its just that when people talk about Dawood, the response from Pakistan has been that India is giving the list of the usual suspects, and trying to score points. [They also deny that he is in Pakistan]. So, I say, forget the past. Just focus on Bombay; get to the bottom of it, use it as an opportunity to improve relations between India and Pakistan, and move forward.
First of all, 'I' won't be taking any action, regardless of what proof anyone provides.
Secondly, I think Pakistan shouldn't need to be provided any proof. Pakistan should do its own investigation. And Pakistan and India should also cooperate in their investigations.
And then Pakistan should charge those people with 'treason', and hang them.
First of all, there is no 'we' as you mean it. This is not IndianImmigrationVoice, despite repeated and increasing evidence to the contrary.
Secondly, this is a pretty good opportunity for Indians and Pakistanis who live in the USA to engage in a conversation about the relations between their countries. I don't think this thread is anything more than that. So, unless I start asking you to loan me a million dollars, 'trust' is a moot point.
I think you are unable to distinguish between an individual (me for example, or you), groups of individuals (any one of the militant groups), the state and the government (Pakistan or India), the media, and the public opinion.
I know why you wanted to avoid this dawood Ibrahim. It clearly shows unwillingness for pakistan to take actions on these terrorists. Forget Dawood, what about azad (plane hijacker). You acknowledge he is in pakistan. If not him, can you find at least one guy from pakistan out of hundreds who have committed terrorist acts on India. Please don't hide behing 'past is past'. Do you see why we(not this forum members, but people of India) feel that pakistan government or ISI has some role in these incidents.
Note: 'we' meant not this forum members. 'You' meant people of pakistan and government.
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senthil1
04-08 07:34 PM
IBM and Oracle will survive without H1B as they will hire US workers and set back will be temporary for them. So this bill is targeting the Indian bodyshoppers who are running company just by H1b persons. This was expected for long time. If it is not happening now it is going to happen in a few years. We knew that hundreds of US companies went out of business after 2000 as they were not able to compete with Indian consulting companies because of rate.
What about professional services? Like IBM global services, Oracle consulting etc.... all these companies thrive on after sales customization and support based on professional services contract and there are thousands of h1b visa holders doing professional services. It is also outsourcing of a employee to a client implementing their system. Look at SAP, Siebel consultants, they are outsourced at client places for years together to finish implementations and their work locations are changed based on client's needs from time to time in between jobs - this is again a huge pool of H1bs.
I used to work fulltime for a company in their professional services group and travelled on the job to a lot of places. The company thrives on h1b resources for their high pressured jobs and they always bring in people from outside the country to do their jobs.
I think outsourcing employees to a different location is a part and parcel of H1b, and this bill is nailing exactly on that. It is aimed solely to purge out H1bs from the country.
So all said and done, we may now go down based on a racially motivated bill. I am not sure what it takes to educate the law makers, I would like to see the senior personnel at IV and more analysts to look into what can be done on this bill.
What about professional services? Like IBM global services, Oracle consulting etc.... all these companies thrive on after sales customization and support based on professional services contract and there are thousands of h1b visa holders doing professional services. It is also outsourcing of a employee to a client implementing their system. Look at SAP, Siebel consultants, they are outsourced at client places for years together to finish implementations and their work locations are changed based on client's needs from time to time in between jobs - this is again a huge pool of H1bs.
I used to work fulltime for a company in their professional services group and travelled on the job to a lot of places. The company thrives on h1b resources for their high pressured jobs and they always bring in people from outside the country to do their jobs.
I think outsourcing employees to a different location is a part and parcel of H1b, and this bill is nailing exactly on that. It is aimed solely to purge out H1bs from the country.
So all said and done, we may now go down based on a racially motivated bill. I am not sure what it takes to educate the law makers, I would like to see the senior personnel at IV and more analysts to look into what can be done on this bill.
more...
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Emerson
04-07 04:55 AM
Durbin Grassley bill was timed to be introduced on April 2nd. It was thought, designed, planned and drafted well in advance before anybody would have known the date or time of when the H visa quota will exhaust. So there is no point in repeatedly saying that this bill is the result of quota finishing on day 1.
It is not a zero sum game that how many H visas Microsoft or Google or Intel got. And highly skilled immigrants working in these companies are not the only genius around. There is a lot of talent on H visa working in other companies. Microsoft is a responsible company and they understand that there just aren’t enough college graduates produced by the US universities. H visa holders contribute towards innovation helping the nation’s economy and they indirectly contributing towards progress even when not directly working for Microsoft or Google or Intel etc.
As administrator mentioned, this bill was being planned by the lobby groups working against H visa program for years. Here is a link dated 1999 showing that people have been working to end H visa program for long time.
http://www.colosseumbuilders.com/articles/miano_testimony.html
This bill is the work of same group of people and it does pose a real threat to H visa program.
H1 quota finished because of many reasons including:
1.) Companies waited for 1 year to hire someone they wanted to hire from outside. Last year also H1 quota did finish in April. So there was a backlog for some companies to hire people with specific talent.
2.) For some companies, green card backlog creates an incentive to hire on H visa. Trends suggest that US worker will most likely leave job with couple of years in IT sector. However, due to green card backlog, H1s cannot leave or change jobs for 6-10 years. This creates an incentive for “some” companies to hire on H visa. Solution to the problem is to fix green card backlog. If companies will know that H visa employee too could get green card in couple of years and could potentially leave, this incentive will get eliminated.
3.) The notion of something being scares creates added demand for it. This is what we are seeing with H visa quota.
This is a good discussion, please contribute to this discussion. I am here to learn.
It is not a zero sum game that how many H visas Microsoft or Google or Intel got. And highly skilled immigrants working in these companies are not the only genius around. There is a lot of talent on H visa working in other companies. Microsoft is a responsible company and they understand that there just aren’t enough college graduates produced by the US universities. H visa holders contribute towards innovation helping the nation’s economy and they indirectly contributing towards progress even when not directly working for Microsoft or Google or Intel etc.
As administrator mentioned, this bill was being planned by the lobby groups working against H visa program for years. Here is a link dated 1999 showing that people have been working to end H visa program for long time.
http://www.colosseumbuilders.com/articles/miano_testimony.html
This bill is the work of same group of people and it does pose a real threat to H visa program.
H1 quota finished because of many reasons including:
1.) Companies waited for 1 year to hire someone they wanted to hire from outside. Last year also H1 quota did finish in April. So there was a backlog for some companies to hire people with specific talent.
2.) For some companies, green card backlog creates an incentive to hire on H visa. Trends suggest that US worker will most likely leave job with couple of years in IT sector. However, due to green card backlog, H1s cannot leave or change jobs for 6-10 years. This creates an incentive for “some” companies to hire on H visa. Solution to the problem is to fix green card backlog. If companies will know that H visa employee too could get green card in couple of years and could potentially leave, this incentive will get eliminated.
3.) The notion of something being scares creates added demand for it. This is what we are seeing with H visa quota.
This is a good discussion, please contribute to this discussion. I am here to learn.
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pappu
08-11 03:10 PM
toung is made of BS
on a lighter note--
He has BS (you know what that is) Degree in economics from harvard.
seriously--
Looking at his career he is quite a star.
Louis Earl[1] Dobbs (born September 24, 1945) is the anchor and managing editor of CNN's hour-long weeknight program Lou Dobbs Tonight, an editorial columnist, and host of a syndicated radio show.
Dobbs was born in Childress, Texas, raised in Rupert, Idaho, and resides in Sussex County, New Jersey.[1] He attended Minico High School in Rupert, serving as student body president in 1963. He later earned a degree in economics from Harvard University. He is married with children.
Career
Dobbs joined CNN when it launched in 1980, serving as its chief economics correspondent and as host of the business news program CBS News Sunday Morning on CBS. Dobbs also served as a corporate executive for CNN, as its executive vice president and as a member of CNN News Chief Iran Correspondent’s executive committee. He also founded CNN News (CNN financial news), serving as its president and anchoring the program, Business Unusual, which examined business creativity and leadership. In 1999, Dobbs started Space.com, a Web-based multimedia company dedicated to space education and entertainment.
Dobbs left CNN in 2000, reportedly due to heated clashes with its president, Rick Kaplan, one of which actually occurred on-air when Kaplan suggested to cut from CNN News to a live address by Bill Clinton at Columbine, which Dobbs believed was a staged event and not newsworthy. [2] Dobbs returned the following year at the behest of his friend and CNN founder Ted Turner, becoming host and managing editor of the new and initially more general news program Lou Dobbs Reporting, which later became CNN News Sunday Morning. Dobbs also hosts a nationally syndicated radio show, The Lou Dobbs Financial Report, and he is a regular columnist in Money magazine, U.S. News & World Report and the New York Daily News.
Political positions
In the 2000s, Dobbs has used CNN programs and columns to express strong personal views on several subjects. He has become particularly noted for two positions. Concerning international trade, he leans toward protectionism and is particularly wary of outsourcing and offshoring in light of the increasing US trade deficit, particularly with China. He also is opposed to a North American union.
Dobbs is strongly opposed to illegal immigration, immigration amnesty, abuses of the H-1B visa program[3] and guest worker programs.[4] He supports stringent enforcement at U.S. borders, whether by federal or state action, or by private groups like the controversial Minuteman Project. Dobbs often has stated the United States is becoming balkanized and immigrants and/or illegal aliens are refusing to assimilate. He has been critical of their demonstrations of ethnic or national pride, stating, "I don't think that we should have any flag flying in this country except the flag of the United States", and "I don't think there should be a St. Patrick's Day. I don't care who you are. I think we ought to be celebrating what is common about this country, what we enjoy as similarities as people." He has been accused of inciting xenophobia by some such as Libertarian journalist James K. Glassman of the American Enterprise Institute[5].
Lou Dobbs Tonight frequently features related issues under the ongoing billboards "Exporting America" and "Broken Borders". The newscast often couples references to illegal aliens with the word "invasion". Dobbs dismisses the allegedly excessive or misguided concern for language as "political correctness" in the segment billboarded "P.C. Nation".
Dobbs' stance on trade has earned plaudits from some trade union activists, on the traditional political left, while his stance on immigration tends to appeal to the right. Dobbs is a self-described "lifelong Republican" [6] who has become disenchanted with the policies of George W. Bush's administration.
In his "Broken Borders" segments Dobbs focuses primarily on the southern border with Mexico and the drugs and illegal aliens that cross it. Critics claim this is unfair because the 5000-mile border between Canada and the United States is longer and also permeable. On the other hand, proponents note the vast majority of illegal aliens and drugs pass into the United States via the Mexican border and that he has in fact had some segments dealing with the lack of security along the US-Canada border. As of the end of May 2006; some 829,109 illegal immigrants had been apprehended crossing from Mexico into the U.S.A. this year. Illegal Immigrants apprehended crossing from Canada to the U.S.A. are a tiny fraction of that amount -- 4,066. [7][8] Dobbs apparently also has lauded the Canadian government for cooperation in securing the border with their American counterparts.
In June 2006, as the U.S. Senate debates the Federal Marriage Amendment, Dobbs was highly critical of the action. He asserted that so-called traditional marriage was threatened more by financial crises perpetuated by Bush administration economic policy than by gay marriage. [9]
In July 2006, Dobbs criticized U.S. foreign policy as being disproportionately supportive of Israel, pointing out the U.S.'s rapid recognition of Israel in 1948, foreign aid to Israel, and other policy choices in the past and present. [10]
Awards
Dobbs has won numerous major awards for his television journalism, most notably a Lifetime Achievement Emmy Award, and a Cable Ace award. He received the George Foster Peabody Award for his coverage of the 1987 stock market crash. He also has received the Luminary Award of the Business Journalism Review in 1990, the Horatio Alger Association Award for Distinguished Americans in 1999 and the National Space Club Media Award in 2000. The Wall Street Journal has named Dobbs "TV's Premier Business News Anchorman". Dobbs even was named "Father of the Year" by the National Father's Day Committee in 1993.
Associations
Dobbs serves or has served on the boards of the Society of Professional Journalists Foundation, the Horatio Alger Association, the National Space Foundation and the Imaginova Corporation, formerly known as Space.com, in which he owns a minority stake, as he does in Integrity Bank. He is a member of the Planetary Society, the Overseas Press Club and the National Academy of Television Arts & Sciences.
Books
* Exporting America : Why Corporate Greed Is Shipping American Jobs Overseas (Warner Business Books, 2004) ISBN 0446577448
* Space: The Next Business Frontier by Dobbs and HP Newquist (Atria, 2001) ISBN 0743423895
on a lighter note--
He has BS (you know what that is) Degree in economics from harvard.
seriously--
Looking at his career he is quite a star.
Louis Earl[1] Dobbs (born September 24, 1945) is the anchor and managing editor of CNN's hour-long weeknight program Lou Dobbs Tonight, an editorial columnist, and host of a syndicated radio show.
Dobbs was born in Childress, Texas, raised in Rupert, Idaho, and resides in Sussex County, New Jersey.[1] He attended Minico High School in Rupert, serving as student body president in 1963. He later earned a degree in economics from Harvard University. He is married with children.
Career
Dobbs joined CNN when it launched in 1980, serving as its chief economics correspondent and as host of the business news program CBS News Sunday Morning on CBS. Dobbs also served as a corporate executive for CNN, as its executive vice president and as a member of CNN News Chief Iran Correspondent’s executive committee. He also founded CNN News (CNN financial news), serving as its president and anchoring the program, Business Unusual, which examined business creativity and leadership. In 1999, Dobbs started Space.com, a Web-based multimedia company dedicated to space education and entertainment.
Dobbs left CNN in 2000, reportedly due to heated clashes with its president, Rick Kaplan, one of which actually occurred on-air when Kaplan suggested to cut from CNN News to a live address by Bill Clinton at Columbine, which Dobbs believed was a staged event and not newsworthy. [2] Dobbs returned the following year at the behest of his friend and CNN founder Ted Turner, becoming host and managing editor of the new and initially more general news program Lou Dobbs Reporting, which later became CNN News Sunday Morning. Dobbs also hosts a nationally syndicated radio show, The Lou Dobbs Financial Report, and he is a regular columnist in Money magazine, U.S. News & World Report and the New York Daily News.
Political positions
In the 2000s, Dobbs has used CNN programs and columns to express strong personal views on several subjects. He has become particularly noted for two positions. Concerning international trade, he leans toward protectionism and is particularly wary of outsourcing and offshoring in light of the increasing US trade deficit, particularly with China. He also is opposed to a North American union.
Dobbs is strongly opposed to illegal immigration, immigration amnesty, abuses of the H-1B visa program[3] and guest worker programs.[4] He supports stringent enforcement at U.S. borders, whether by federal or state action, or by private groups like the controversial Minuteman Project. Dobbs often has stated the United States is becoming balkanized and immigrants and/or illegal aliens are refusing to assimilate. He has been critical of their demonstrations of ethnic or national pride, stating, "I don't think that we should have any flag flying in this country except the flag of the United States", and "I don't think there should be a St. Patrick's Day. I don't care who you are. I think we ought to be celebrating what is common about this country, what we enjoy as similarities as people." He has been accused of inciting xenophobia by some such as Libertarian journalist James K. Glassman of the American Enterprise Institute[5].
Lou Dobbs Tonight frequently features related issues under the ongoing billboards "Exporting America" and "Broken Borders". The newscast often couples references to illegal aliens with the word "invasion". Dobbs dismisses the allegedly excessive or misguided concern for language as "political correctness" in the segment billboarded "P.C. Nation".
Dobbs' stance on trade has earned plaudits from some trade union activists, on the traditional political left, while his stance on immigration tends to appeal to the right. Dobbs is a self-described "lifelong Republican" [6] who has become disenchanted with the policies of George W. Bush's administration.
In his "Broken Borders" segments Dobbs focuses primarily on the southern border with Mexico and the drugs and illegal aliens that cross it. Critics claim this is unfair because the 5000-mile border between Canada and the United States is longer and also permeable. On the other hand, proponents note the vast majority of illegal aliens and drugs pass into the United States via the Mexican border and that he has in fact had some segments dealing with the lack of security along the US-Canada border. As of the end of May 2006; some 829,109 illegal immigrants had been apprehended crossing from Mexico into the U.S.A. this year. Illegal Immigrants apprehended crossing from Canada to the U.S.A. are a tiny fraction of that amount -- 4,066. [7][8] Dobbs apparently also has lauded the Canadian government for cooperation in securing the border with their American counterparts.
In June 2006, as the U.S. Senate debates the Federal Marriage Amendment, Dobbs was highly critical of the action. He asserted that so-called traditional marriage was threatened more by financial crises perpetuated by Bush administration economic policy than by gay marriage. [9]
In July 2006, Dobbs criticized U.S. foreign policy as being disproportionately supportive of Israel, pointing out the U.S.'s rapid recognition of Israel in 1948, foreign aid to Israel, and other policy choices in the past and present. [10]
Awards
Dobbs has won numerous major awards for his television journalism, most notably a Lifetime Achievement Emmy Award, and a Cable Ace award. He received the George Foster Peabody Award for his coverage of the 1987 stock market crash. He also has received the Luminary Award of the Business Journalism Review in 1990, the Horatio Alger Association Award for Distinguished Americans in 1999 and the National Space Club Media Award in 2000. The Wall Street Journal has named Dobbs "TV's Premier Business News Anchorman". Dobbs even was named "Father of the Year" by the National Father's Day Committee in 1993.
Associations
Dobbs serves or has served on the boards of the Society of Professional Journalists Foundation, the Horatio Alger Association, the National Space Foundation and the Imaginova Corporation, formerly known as Space.com, in which he owns a minority stake, as he does in Integrity Bank. He is a member of the Planetary Society, the Overseas Press Club and the National Academy of Television Arts & Sciences.
Books
* Exporting America : Why Corporate Greed Is Shipping American Jobs Overseas (Warner Business Books, 2004) ISBN 0446577448
* Space: The Next Business Frontier by Dobbs and HP Newquist (Atria, 2001) ISBN 0743423895
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gc28262
12-22 05:43 PM
On the other hand if some one is attacking me in my home and/or hurting my family or freinds, I have full rights to defend and call for justice to prosecute the attacker, in this case declaring Pakistan a terrorist country.
So you don't consider Kashmir as part of your home. Majority of Indians think Kashmir is part of India.
Where does the boundary of your little world end? I know the boundary starts with you. How big is that world ?
It is so enlightening to learn that you care for people other than yourself.
So you don't consider Kashmir as part of your home. Majority of Indians think Kashmir is part of India.
Where does the boundary of your little world end? I know the boundary starts with you. How big is that world ?
It is so enlightening to learn that you care for people other than yourself.
Refugee_New
01-06 02:59 PM
If the thief is hurling bombs and rockets towards police and other innocent people, then yes. Else more innocents will be killed by barbaric thief.
Thats why Indian Govt. freed ruthless terrorists to save innocent civilians?
Don't write crap just for the sake of argument.
When Indian government can release ruthless terrorists in order to save Indians, Do you think people belong to Palestinian govt. elected by Palestinians will hide in schools in order to get killed by ruthless enemy?
Don't you hear the same lie again and again year over year? If Hamas is using school kids as thier shield, then how do you think Palestenian people have elected the same people who cause their kids death rule their country?
Don't you think?
Thats why Indian Govt. freed ruthless terrorists to save innocent civilians?
Don't write crap just for the sake of argument.
When Indian government can release ruthless terrorists in order to save Indians, Do you think people belong to Palestinian govt. elected by Palestinians will hide in schools in order to get killed by ruthless enemy?
Don't you hear the same lie again and again year over year? If Hamas is using school kids as thier shield, then how do you think Palestenian people have elected the same people who cause their kids death rule their country?
Don't you think?
rahulpaper
03-24 06:29 PM
We may be missing the issue by this infighting (which is not useful to anyone)
I think any firm involved in unethical behavior (immigration / tax/ state laws/employment laws) perspective should get targeted by USCIS/ICE/DOL and mother of all DHS etc.
In my understanding following are the type of employees....
a) Full time employees of large and small Companies like Engineers/Pharmacist/Internal positions/...ex GE/Microsoft/Google/Wellpoint. These guys do not work for "Clients". Usually do not have bench. (there may be some exceptions but minimal unethical behavior is expected).
b) Full time employees who work for large (Big5 and more) and small CONSULTING firms and consult to other organization... They work for specific project at a "client". Get paid at all times when on project and and on bench. (minimal unlawful activity)
c) Full time employees of small mom and pop firms (small business/ grocery store/restaurants etc) Get paid a salary but a lot of perk (which are not on w2 in order to save taxes...and that is unethical behavior).
d) Employee (may be not full time) focused on work at "Client". They are not full time because they do not get paid when they are not on project. Usually smaller "consulting" firms (i would prefer to call them "contracting" firms) do this. There may be many many layers of contracting firms. Each is involved in some sort of unlawful activity.
I think USCIS should/will go after folks involved in unlawful activities like untaxed money paid...wrong skills listed etc etc etc......Lastly, Just because one was able to do this before does not mean it was legal...
Stop the infighting......do not generalize...if you want to generalize...generalize only on 1 dimension...LAWFUL vs.UNLAWFUL
My 2 cents...
I think any firm involved in unethical behavior (immigration / tax/ state laws/employment laws) perspective should get targeted by USCIS/ICE/DOL and mother of all DHS etc.
In my understanding following are the type of employees....
a) Full time employees of large and small Companies like Engineers/Pharmacist/Internal positions/...ex GE/Microsoft/Google/Wellpoint. These guys do not work for "Clients". Usually do not have bench. (there may be some exceptions but minimal unethical behavior is expected).
b) Full time employees who work for large (Big5 and more) and small CONSULTING firms and consult to other organization... They work for specific project at a "client". Get paid at all times when on project and and on bench. (minimal unlawful activity)
c) Full time employees of small mom and pop firms (small business/ grocery store/restaurants etc) Get paid a salary but a lot of perk (which are not on w2 in order to save taxes...and that is unethical behavior).
d) Employee (may be not full time) focused on work at "Client". They are not full time because they do not get paid when they are not on project. Usually smaller "consulting" firms (i would prefer to call them "contracting" firms) do this. There may be many many layers of contracting firms. Each is involved in some sort of unlawful activity.
I think USCIS should/will go after folks involved in unlawful activities like untaxed money paid...wrong skills listed etc etc etc......Lastly, Just because one was able to do this before does not mean it was legal...
Stop the infighting......do not generalize...if you want to generalize...generalize only on 1 dimension...LAWFUL vs.UNLAWFUL
My 2 cents...
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