cogitoergosum
2010-08-09 13:31:13 UTC
Computer Coolies Need not Apply: Sid Harth
http://navanavonmilita.wordpress.com/2010/08/09/computer-coolies-need-not-apply-sid-harth/
Computer Coolies Need not Apply: Sid Harth
WSJ Blogs
Digits
Technology News and Insights
A Threat to Softbank’s iPhone Honeymoon?IPod to IPhone on the Cheap in
China
August 9, 2010, 7:00 AM ET
U.S. Visa Fees Hurt India’s Infosys, Wipro
By WSJ Staff
From India Real Time:
After witnessing a fairly rosy period over the past few months, the
Indian information technology services sector is faced with an
unpleasant situation; higher U.S. visa fees.
Bloomberg News
Infosys’s headquarters in Bangalore, India.
The U.S. Senate late Thursday passed legislation that requires all
companies with employees in the U.S. that have more than half their
U.S.-based employees on H1-B or L-1 visas to pay thousands of dollars
in new fees for each worker. The measure is attached to a $600 million
border-security spending bill.
If the bill becomes a law, it would make on-site resources for Indian
software exporters much costlier. Brokerage CLSA said on an average it
costs about $2,000 to get an H-1B/L visa currently and the bill
proposes an additional fee of $2,000-$2,500 per visa as filing and
fraud prevention and detection fees.
Som Mittal, president of Indian technology industry trade group
Nasscom, says Indian companies could be looking at $200 million to
$250 million in higher human-resources costs, the WSJ has reported.
Information technology stocks on the Bombay Stock Exchange were
lagging the benchmark Monday. Infosys, which was the target of an
unflattering remark last week by a U.S. Senator, and Wipro were
trading down 0.3% each. But Tata Consultancy Services bucked the trend
and was trading up 0.2%. The BSE IT index was down 0.4%, while the
benchmark 30-stock Sensex was up 0.5%.
“A doubling of visa fees implies a margin impact of 40-60 basis
points,” CLSA said in a note. That isn’t great news for a sector
already struggling with eroding margins due to wage increases in the
wake of an improving economy. Visa costs for Indian IT companies are
estimated to be anywhere between 1% and 2.5% of revenue.
And industry watchers believe the fee, which will be applicable from
October 1 and will continue until 2014, will mainly affect Indian
companies given that other companies that use these visas extensively,
such as Microsoft Corp. and Intel Corp. will be able to sidestep the
fee as the proportion of their employees on the H1-B or L-1 visas is
less than 50%.
CLSA said while the companies should be able to absorb the margin
impact in this case, the direction that the legislation is taking is
worrying. Analysts say that any further measures of this sort could
seriously hamper India’s top IT companies, which get more than half of
their revenue from the U.S.
“The passage of this bill will likely enthuse those supporting
employment protectionism and encourage similar pieces of legislation,”
CLSA added.
Infosys, which has been running a program to recruit about 1,000
people in the U.S. for the past few quarters, said “it is unfortunate
that this tax is being levied on a discriminatory basis when there’s a
need to open markets to make companies more competitive in the global
marketplace.”
Wipro and Tata Consultancy didn’t immediately have comment.
WSJ Blogs
Digits
Technology News and Insights
August 9, 2010, 7:00 AM ET.U.S.
Visa Fees Hurt India’s Infosys, Wipro
Article Comments (2)
To report offensive comments email ***@wsj.com
7:52 am August 9, 2010
SK JAIN wrote:
Yes, US is free to decide how much money it needs to charge to grant a
VISA. H1-B workers who return back after 4-5 years of work also do
contribute to Social Security and other taxes without getting anything
in return.
It is up to American public and government to balance how much
immigration and foreign workers are good enough for them.
9:17 am August 9, 2010
Sid Harth wrote:
Computer Coolies Need not Apply: Sid Harth
I am amused.
I have several of my relatives, their classmates, their friends, their
mail-order brides, their in-laws, their outlaws, their Holy Hindu
cows, just kidding, come to the United States of America and get fat.
S K Jain is, perhaps a novice, an inane person of no good account.
These persons I listed above use, miseuse, abuse all the US services
most flagrantly.
Here is to wit:
Young man named X. finds a suitable job in American IT industry.
Marries a girl from Poona/Pune India. Brings her over. She gets
pregnant, as all of them do, quickly than you can say “Uncle Sam.” To
take care of the pregnancy, she sponsors her parents. They come
merrily and swiftly.
Here is the best part.
The mother-in-law gets very sick and very suddenly. Old age and
Chicago winters did it, probably.
The boy has no money except few measely dollars he makes working as a
computer coolie. He rushes his mother-in-law to the fanciest,
glitziest Chicago hospital. Being a serious case, the admission
department does not make any fuss over boy’s not having any money or
any substantial insurance to cover the emergency operation.
Operation successful. Mother-in-law dies.
Hospital tries to get the boy to pay. He refuses. He is being
processed and found incompetent, unable to pay. The truth is boy’s
father is a very rich man. Boy did not bother to get some much needed
money from his rich father and vamoosed to California without leaving
any forwarding address.
The end
http:navanavonmilita.wordpress.com
…and I am Sid Harth
1 Votes
By navanavonmilita, on 09/08/2010 at 9:27 am, under News, Views and
Reviews. . No Comments
Post a comment or leave a trackback: Trackback URL. Edit
« Of Murderers, Monsters and Maniacs: Sid Harth
http://navanavonmilita.wordpress.com/2010/08/09/computer-coolies-need-not-apply-sid-harth/
Computer Coolies Need not Apply: Sid Harth
WSJ Blogs
Digits
Technology News and Insights
A Threat to Softbank’s iPhone Honeymoon?IPod to IPhone on the Cheap in
China
August 9, 2010, 7:00 AM ET
U.S. Visa Fees Hurt India’s Infosys, Wipro
By WSJ Staff
From India Real Time:
After witnessing a fairly rosy period over the past few months, the
Indian information technology services sector is faced with an
unpleasant situation; higher U.S. visa fees.
Bloomberg News
Infosys’s headquarters in Bangalore, India.
The U.S. Senate late Thursday passed legislation that requires all
companies with employees in the U.S. that have more than half their
U.S.-based employees on H1-B or L-1 visas to pay thousands of dollars
in new fees for each worker. The measure is attached to a $600 million
border-security spending bill.
If the bill becomes a law, it would make on-site resources for Indian
software exporters much costlier. Brokerage CLSA said on an average it
costs about $2,000 to get an H-1B/L visa currently and the bill
proposes an additional fee of $2,000-$2,500 per visa as filing and
fraud prevention and detection fees.
Som Mittal, president of Indian technology industry trade group
Nasscom, says Indian companies could be looking at $200 million to
$250 million in higher human-resources costs, the WSJ has reported.
Information technology stocks on the Bombay Stock Exchange were
lagging the benchmark Monday. Infosys, which was the target of an
unflattering remark last week by a U.S. Senator, and Wipro were
trading down 0.3% each. But Tata Consultancy Services bucked the trend
and was trading up 0.2%. The BSE IT index was down 0.4%, while the
benchmark 30-stock Sensex was up 0.5%.
“A doubling of visa fees implies a margin impact of 40-60 basis
points,” CLSA said in a note. That isn’t great news for a sector
already struggling with eroding margins due to wage increases in the
wake of an improving economy. Visa costs for Indian IT companies are
estimated to be anywhere between 1% and 2.5% of revenue.
And industry watchers believe the fee, which will be applicable from
October 1 and will continue until 2014, will mainly affect Indian
companies given that other companies that use these visas extensively,
such as Microsoft Corp. and Intel Corp. will be able to sidestep the
fee as the proportion of their employees on the H1-B or L-1 visas is
less than 50%.
CLSA said while the companies should be able to absorb the margin
impact in this case, the direction that the legislation is taking is
worrying. Analysts say that any further measures of this sort could
seriously hamper India’s top IT companies, which get more than half of
their revenue from the U.S.
“The passage of this bill will likely enthuse those supporting
employment protectionism and encourage similar pieces of legislation,”
CLSA added.
Infosys, which has been running a program to recruit about 1,000
people in the U.S. for the past few quarters, said “it is unfortunate
that this tax is being levied on a discriminatory basis when there’s a
need to open markets to make companies more competitive in the global
marketplace.”
Wipro and Tata Consultancy didn’t immediately have comment.
WSJ Blogs
Digits
Technology News and Insights
August 9, 2010, 7:00 AM ET.U.S.
Visa Fees Hurt India’s Infosys, Wipro
Article Comments (2)
To report offensive comments email ***@wsj.com
7:52 am August 9, 2010
SK JAIN wrote:
Yes, US is free to decide how much money it needs to charge to grant a
VISA. H1-B workers who return back after 4-5 years of work also do
contribute to Social Security and other taxes without getting anything
in return.
It is up to American public and government to balance how much
immigration and foreign workers are good enough for them.
9:17 am August 9, 2010
Sid Harth wrote:
Computer Coolies Need not Apply: Sid Harth
I am amused.
I have several of my relatives, their classmates, their friends, their
mail-order brides, their in-laws, their outlaws, their Holy Hindu
cows, just kidding, come to the United States of America and get fat.
S K Jain is, perhaps a novice, an inane person of no good account.
These persons I listed above use, miseuse, abuse all the US services
most flagrantly.
Here is to wit:
Young man named X. finds a suitable job in American IT industry.
Marries a girl from Poona/Pune India. Brings her over. She gets
pregnant, as all of them do, quickly than you can say “Uncle Sam.” To
take care of the pregnancy, she sponsors her parents. They come
merrily and swiftly.
Here is the best part.
The mother-in-law gets very sick and very suddenly. Old age and
Chicago winters did it, probably.
The boy has no money except few measely dollars he makes working as a
computer coolie. He rushes his mother-in-law to the fanciest,
glitziest Chicago hospital. Being a serious case, the admission
department does not make any fuss over boy’s not having any money or
any substantial insurance to cover the emergency operation.
Operation successful. Mother-in-law dies.
Hospital tries to get the boy to pay. He refuses. He is being
processed and found incompetent, unable to pay. The truth is boy’s
father is a very rich man. Boy did not bother to get some much needed
money from his rich father and vamoosed to California without leaving
any forwarding address.
The end
http:navanavonmilita.wordpress.com
…and I am Sid Harth
1 Votes
By navanavonmilita, on 09/08/2010 at 9:27 am, under News, Views and
Reviews. . No Comments
Post a comment or leave a trackback: Trackback URL. Edit
« Of Murderers, Monsters and Maniacs: Sid Harth