The New Economy and its Winners Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The New Economy and its Winners

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: fedhead who wrote (17799)	8/14/2003 1:01:20 AM
From: Lizzie Tudor	Read Replies (3) of 57684

As long as the visas get shutoff in a month I'm fine with US competitiveness. Should U.S. technology jobs go to India or other offshore countries that work for pennies to the dollar? Some items were buried in the quarterly report from Hewlett-Packard's recent conference call. One we noted was the continued firing of H-P employees in the U.S. -- about 18,000 merger casualties will limp away bloodied and bruised from the H-P/Compaq merger. The flip side of this was H-P's announcement buried in the quarterly report of continued hiring of offshore employees such as those in India. Somehow we doubt the company that Hewlett and Packard founded in that Palo Alto garage several decades ago when Silicon Valley was still orchards would warm to the thought of firing folks at home and replacing them with foreign workers who cost about 1/10th as much to employ. If so, they would have probably moved to Bombay and started the company there. Why mess with California's high cost of living in the first place? In fact, H-P CEO Carly Fiorina may want to consider moving to New Delhi also. Her $4.2 million salary last year could buy an entire town over there and turn all the people into indentured servants. Or, perhaps the solution is much simpler. Fire Fiorina and hire one of the top executives from a company such as Satyam (NYSE:SAY) which is a leader in outsourced information technology. They must be willing to work twice as hard for 2% of what Carly makes. Satyam's CEO pay listed last year was $84,000. He's working for 2% of what Carly made last year. Toss in Carly's generous stock package and half of India could work for H-P for what Carly makes now. Nothing against India or any other country working the outsourced channel. But U.S. executives with what I consider exorbitant pay packages (stock included) seem a little too laissez-faire about taking jobs offshore. American executives who are looking to dress up their numbers to boost their stock prices by firing Americans and hiring cheap offshore workers should really consider what effect this could have on the U.S. economy. Legislators also need to consider this and some already are. siliconinvestor.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next