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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 71.08

+0.1%

Nov 7 9:30 AM EST

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To: Lizzie Tudor who wrote (65333)	3/31/2004 9:36:19 PM
From: Stock Farmer	Read Replies (1) of 77397

engineers are already gone John. It's not over yet. When I can hire folks in Cairo for 1/2 of what the same results cost me in SV, then there are a lot of folks in SV whos future employment is in jeopardy. And the job loss is precisely why we can't recover from this recession. What you call a "recession" is merely a return to normality following an incredible boom. If you jump 100 feet up in the air, it's a bit short-sighted to blame a gravitational fault for the reason you are about to hit the ground! The CEO of satyam and infosys has the same job as the CEO of IBM, particularly since IBM is nothing more than a services offshorer. Interesting perspective. If you are trying to build credibility with me, it's not working very well. I would start with the financial staff CFO and controller. These are positions that could easily be offshored for most firms. I think you'd be hard pressed to find enough people in India qualified to effectively interpret US tax code. Let alone prepare, manage and interpret the financial statements of any significant commercial enterprise. But if you can find 'em and they're willing and able to do the job (the whole job) for less... well, then of course outsource these functions. Same goes for code monkeys. Right? Whether or not a job can be outsourced is not an intrinsic function of the job being performed, but and extrinsic function of the labor market. You don't seem to get it that there are literally armies of qualified C++ programmers outside North America, the majority of which represent a higher marginal return on expense than their North American counterparts. Whether you like it or not, the same can not be said for the majority of executive functions.

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