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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.04-0.3%Nov 26 3:59 PM EST
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To: pfalk who wrote (67555)4/12/2005 1:22:34 PM
From: Lizzie Tudor  Read Replies (2) of 77400
 
1. The MDs have a strong union: You can't practice medicine in the US unless you are certified by the AMA. The AMA acts as a guild, which is nothing but an old time union.

Exactly my point. If the MDs didn't have "protectionism" of their profession, and instead issued 200K foreign work visas per year to deal with some artificial "shortage", the next thing you'd see would be MDs at 30K-40K/year salaries- which would be GREAT for about a 10 year period while the old top-tier crop of MDs still had to make a living, but the minute they retire the profession would decline and that would be the end of the dominant medical industry in the US.

Say for example the hospital owners pushed for these foreign work visas. If they were only focused on the bottom line, that is running a hospital to make money, then you could understand their motivation. But if they were also interested in selling their hospital's stock in the PUBLIC MARKET for a high price- forget it. Thats what the tech CEOs don't get. They will never again get high valuations for their companies except in the very rare cases like google. Another problem with offshoring IT is the market for the goods and services that these infrastructure providers sell to is offshore.
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