Submitted by MFJV (not verified) on Wed, 2008-09-24 05:22.
How mis-informed can one individual be to publish such rubbish. Having come from a fortune 50. I've seen the forces of off-shoring at work. I lost my position as an exec eight years ago and 3,000 out of 5,000 of our employees lost their jobs as well - much off-shored to Eastern Europe and India.
Corporations have rallied around the off-shoring maypole to get their one-time cost reductions and prop up their financial reports.
Today's economic data clearly exemplifies that in spite of the impressive statistical data and the quality references presented, incorrect conclusions can be easily interpreted. What we see in the US is more US unemployment of highly educated individuals (not just manufacturing), great corporate financial results for companies that are in their 1st or 2nd year of off-shoring due to the windfall reduction in operating costs, loss of US intellectual property as ideas and development are now performed off shore, failing consumer confidence due to loss of jobs and their inability to meet their own credit & loan obligations and lastly the small group of select executives defining their own compensation packages and preparing to use their golden parachutes.
The perceived benefits of off-shoring is not long-term - it can only be short term (a couple of years). There is no long-term benefit to the US if jobs are lost, retooling and reeducation costs far out weigh the willingness of parties to pay those costs. Lets face it, would your company pay the education costs to reeducate you at Yale or MIT? Of course not. So the retooling can only be for less desirable, lower paying jobs. And pretend that your company (or government) did pay for your re-education. Do you think your new employer would pay you your old salary? Of course not, he'd try to pay you $1K-$5K more than a new college graduate. And if you were 45+ years old, what company will invest in you for the long term? Let's be serious - Let's be honest, the system is broken and there's no one around to fix it. .
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How mis-informed can one
How mis-informed can one individual be to publish such rubbish. Having come from a fortune 50. I've seen the forces of off-shoring at work. I lost my position as an exec eight years ago and 3,000 out of 5,000 of our employees lost their jobs as well - much off-shored to Eastern Europe and India.
Corporations have rallied around the off-shoring maypole to get their one-time cost reductions and prop up their financial reports.
Today's economic data clearly exemplifies that in spite of the impressive statistical data and the quality references presented, incorrect conclusions can be easily interpreted. What we see in the US is more US unemployment of highly educated individuals (not just manufacturing), great corporate financial results for companies that are in their 1st or 2nd year of off-shoring due to the windfall reduction in operating costs, loss of US intellectual property as ideas and development are now performed off shore, failing consumer confidence due to loss of jobs and their inability to meet their own credit & loan obligations and lastly the small group of select executives defining their own compensation packages and preparing to use their golden parachutes.
The perceived benefits of off-shoring is not long-term - it can only be short term (a couple of years). There is no long-term benefit to the US if jobs are lost, retooling and reeducation costs far out weigh the willingness of parties to pay those costs. Lets face it, would your company pay the education costs to reeducate you at Yale or MIT? Of course not. So the retooling can only be for less desirable, lower paying jobs. And pretend that your company (or government) did pay for your re-education. Do you think your new employer would pay you your old salary? Of course not, he'd try to pay you $1K-$5K more than a new college graduate. And if you were 45+ years old, what company will invest in you for the long term? Let's be serious - Let's be honest, the system is broken and there's no one around to fix it. .