snathan
08-12 11:51 AM
This will infact increase offshoring.
These companies will pay the extra fees, but will change their onshore/offshore model. Will use less H1/L1 visas , but will increase the headcount of offshore operations.
So the smart senator will force more jobs to be outsourced. These jobs will never comeback once gone. If we look back at the 2000 recession, it caused a major shift in the way US companies looked at outsourcing. Pre-2000 many companies didn't believe that all jobs could be outsourced. 2000 recession forced them to think otherwise.
These kind of bills will cause a re-thinking in corporate america's thought process. They will think of creative ways to outsource. Against this senator's hopes, it will reduce jobs here.
Not true. Whatever they can outsource, its already gone. There are certain position where the clients demand onsite resource. I am not supporting this bill in anyway, I hate infy as much as I hate this bill. Remember these companies did not leave any stone unturned, milked the client every possible way and expoilted the employees to the maximum extent. In one another post - VLDRao was saying these companies does the tax filing on behalf the emoloyee, get the refund and again claim that tax in india using double taxation aoivdance treaty.
These companies will pay the extra fees, but will change their onshore/offshore model. Will use less H1/L1 visas , but will increase the headcount of offshore operations.
So the smart senator will force more jobs to be outsourced. These jobs will never comeback once gone. If we look back at the 2000 recession, it caused a major shift in the way US companies looked at outsourcing. Pre-2000 many companies didn't believe that all jobs could be outsourced. 2000 recession forced them to think otherwise.
These kind of bills will cause a re-thinking in corporate america's thought process. They will think of creative ways to outsource. Against this senator's hopes, it will reduce jobs here.
Not true. Whatever they can outsource, its already gone. There are certain position where the clients demand onsite resource. I am not supporting this bill in anyway, I hate infy as much as I hate this bill. Remember these companies did not leave any stone unturned, milked the client every possible way and expoilted the employees to the maximum extent. In one another post - VLDRao was saying these companies does the tax filing on behalf the emoloyee, get the refund and again claim that tax in india using double taxation aoivdance treaty.
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pitha
07-20 05:34 PM
are u kidding? raise country cap to 10%!!!!!!!!!
only solution is get rid of the country cap. Before anybody from ROW goes into a lecture about "diversity" blah blah blah please think with a rational mind. Getting rid of country quota is the only solution. things like increasing it to 10% etc will only reduce the backlog time for Indian applicants from 25 years to maybe 18 years.
My take is that Sen. Cornyn's bill is too ambitious and tries to solve ALL the problems. It is never going to fly, especially in this political environment.
We should focus on EB retrogression relief and try to get in only the absolute minimum relief needed to eliminate current backlogs.
In my opinion, this is the absolute minimum:
1) Clear DOL backlogs in BECs
2) Recapture lost visa numbers
3) Dont count dependants
4) Raise per-country cap to 10%
If we can only these rolled in to amendment, it should be easy to pass. We can start an awareness initiative to educate the senators and ensure it passes. If we shoot for too much, its next to impossible. Thats the sad reality.
only solution is get rid of the country cap. Before anybody from ROW goes into a lecture about "diversity" blah blah blah please think with a rational mind. Getting rid of country quota is the only solution. things like increasing it to 10% etc will only reduce the backlog time for Indian applicants from 25 years to maybe 18 years.
My take is that Sen. Cornyn's bill is too ambitious and tries to solve ALL the problems. It is never going to fly, especially in this political environment.
We should focus on EB retrogression relief and try to get in only the absolute minimum relief needed to eliminate current backlogs.
In my opinion, this is the absolute minimum:
1) Clear DOL backlogs in BECs
2) Recapture lost visa numbers
3) Dont count dependants
4) Raise per-country cap to 10%
If we can only these rolled in to amendment, it should be easy to pass. We can start an awareness initiative to educate the senators and ensure it passes. If we shoot for too much, its next to impossible. Thats the sad reality.
2BeeNot2Bee
09-13 07:35 PM
and which is why people are giving me reds! :D
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hiralal
05-29 12:05 AM
if your loan is denied while on EAD ..count yourself as lucky !!!
my advice ..be careful before you take a plunge when on EAD or on temporary visa (H1).
-----------------
MONDAY, MAY 25, 2009
OTHER VOICES
The Housing Hurricane Will Howl Again
By MIKE MORGAN | MORE ARTICLES BY AUTHOR
This is only a lull in the housing hurricane.
WE'RE OUT OF THE EYE OF THE HURRICANE, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in the storm shelter, preparing for a flood of inventory that will overwhelm the markets and produce another round of falling prices
For the past few months there has been a semi-moratorium on foreclosures. Most institutions with delinquent mortgages didn't foreclose. The signs that blanket many neighborhoods have been posted by a fraction of the lenders. Now the rest of the banks are rushing to get their properties on the market.
[ov]
Christoph Hitz for Barron's
We're still supporting misguided programs that only add to inventory woes. They encourage builders to put up more homes and penalize anyone else trying to sell a home.
As a Florida real-estate broker who works with bank asset managers to dispose of foreclosed properties, I get a good view of this market. From December 2008 through mid-March 2009, the number of asset managers calling to discuss REO (real estate owned) properties on their client banks' books dropped by more than 80% from the level at which it previously had been running. In the past two months, however, asset managers have been busy, with most interested in how many properties we could handle at once.
Law firms for banks are once again lining up to file foreclosures and to process evictions. The asset managers we work with have warned us to expect a flood of properties, beginning in early June. This will hit as the number of potential buyers continues to dwindle. Builders, traditional sellers and investors who entered too early are already loaded with REO properties.
ALL OF THE OBAMA administration's attempts to revive, resuscitate and shock the housing markets into recovery have failed. Potential buyers can't purchase homes when they are losing their jobs, regardless of how attractive the credits and mortgages are. The price of homes will continue to fall until the properties are affordable for potential buyers.
If an investor could purchase a home and rent it out for close to breakeven, we might be getting close to a bottom. But we are nowhere close to that level in most critical markets. Until it is approached, prices will continue to fall. In fact, the negative cash flow now evident, along with the flood of properties coming into the inventory pool, warn of lower prices.
There's no light at the end of the tunnel yet. We're still supporting builders through misguided programs that are only adding to the inventory woes. California decided to offer a $10,000 credit to buyers of new homes, on top of the $8,000 federal credit. But California made the $10,000 available only for new homes purchased directly from builders. That shows the power of the builders' lobby, but it only adds to California's housing-industry problem. It encourages builders to construct dwellings we don't need, and it penalizes anyone else trying to sell a home.
Housing inventory soon will flood a market in which more than 500,000 homes are being built each year, even though the annual sales pace for new homes is closer to 300,000. We must also deal with a system clogged with impossible short sales, a surge of second and vacation homes being dumped, and third-wave flippers realizing that they entered the market too soon.
FOR THE BANKS, the back half of the hurricane will destroy balance sheets, unless the Obama administration comes up with another plan to mythically mark these assets on the books. Or we might see some chimerical plan to write down mortgage payments, or move toxic mortgages into a dark pool, or create some new illusion that glosses over the problem.
Our experience with banks' selling REOs is they realize about 50%-75% of what they initially think they will get. Moreover, their expenses to bring these properties to market and manage them are growing. Court systems bogged down with foreclosures are raising fees so that they can hire additional staff. More and more homeowners being evicted are stripping homes to the bone, removing appliances, fixtures, carpet, cabinets, air handlers, motorized garage-door openers and anything else that they can carry off or sell.
Unemployment presents a two-pronged problem. If homeowners lose their jobs, they have difficulty meeting mortgage payments. And a high jobless rate forces more people to put their homes on the market.
During the housing bubble, many second homes were purchased with the mythical equity from primary residences. These second homes are coming onto the market at an alarming rate, as many middle- and upper-class sellers need to raise cash. In some very exclusive private communities in Florida, where home prices are in the seven figures, more than 50% of the homes are on the market. (For more on the vacation-home market, see Cover Story.)
Unfortunately, there are no signs of recovery, despite the hype and the twisting of numbers in many media reports. The end of the unofficial moratorium on foreclosures, combined with rising unemployment, signals that the back half of this housing hurricane is only just beginning.
my advice ..be careful before you take a plunge when on EAD or on temporary visa (H1).
-----------------
MONDAY, MAY 25, 2009
OTHER VOICES
The Housing Hurricane Will Howl Again
By MIKE MORGAN | MORE ARTICLES BY AUTHOR
This is only a lull in the housing hurricane.
WE'RE OUT OF THE EYE OF THE HURRICANE, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in the storm shelter, preparing for a flood of inventory that will overwhelm the markets and produce another round of falling prices
For the past few months there has been a semi-moratorium on foreclosures. Most institutions with delinquent mortgages didn't foreclose. The signs that blanket many neighborhoods have been posted by a fraction of the lenders. Now the rest of the banks are rushing to get their properties on the market.
[ov]
Christoph Hitz for Barron's
We're still supporting misguided programs that only add to inventory woes. They encourage builders to put up more homes and penalize anyone else trying to sell a home.
As a Florida real-estate broker who works with bank asset managers to dispose of foreclosed properties, I get a good view of this market. From December 2008 through mid-March 2009, the number of asset managers calling to discuss REO (real estate owned) properties on their client banks' books dropped by more than 80% from the level at which it previously had been running. In the past two months, however, asset managers have been busy, with most interested in how many properties we could handle at once.
Law firms for banks are once again lining up to file foreclosures and to process evictions. The asset managers we work with have warned us to expect a flood of properties, beginning in early June. This will hit as the number of potential buyers continues to dwindle. Builders, traditional sellers and investors who entered too early are already loaded with REO properties.
ALL OF THE OBAMA administration's attempts to revive, resuscitate and shock the housing markets into recovery have failed. Potential buyers can't purchase homes when they are losing their jobs, regardless of how attractive the credits and mortgages are. The price of homes will continue to fall until the properties are affordable for potential buyers.
If an investor could purchase a home and rent it out for close to breakeven, we might be getting close to a bottom. But we are nowhere close to that level in most critical markets. Until it is approached, prices will continue to fall. In fact, the negative cash flow now evident, along with the flood of properties coming into the inventory pool, warn of lower prices.
There's no light at the end of the tunnel yet. We're still supporting builders through misguided programs that are only adding to the inventory woes. California decided to offer a $10,000 credit to buyers of new homes, on top of the $8,000 federal credit. But California made the $10,000 available only for new homes purchased directly from builders. That shows the power of the builders' lobby, but it only adds to California's housing-industry problem. It encourages builders to construct dwellings we don't need, and it penalizes anyone else trying to sell a home.
Housing inventory soon will flood a market in which more than 500,000 homes are being built each year, even though the annual sales pace for new homes is closer to 300,000. We must also deal with a system clogged with impossible short sales, a surge of second and vacation homes being dumped, and third-wave flippers realizing that they entered the market too soon.
FOR THE BANKS, the back half of the hurricane will destroy balance sheets, unless the Obama administration comes up with another plan to mythically mark these assets on the books. Or we might see some chimerical plan to write down mortgage payments, or move toxic mortgages into a dark pool, or create some new illusion that glosses over the problem.
Our experience with banks' selling REOs is they realize about 50%-75% of what they initially think they will get. Moreover, their expenses to bring these properties to market and manage them are growing. Court systems bogged down with foreclosures are raising fees so that they can hire additional staff. More and more homeowners being evicted are stripping homes to the bone, removing appliances, fixtures, carpet, cabinets, air handlers, motorized garage-door openers and anything else that they can carry off or sell.
Unemployment presents a two-pronged problem. If homeowners lose their jobs, they have difficulty meeting mortgage payments. And a high jobless rate forces more people to put their homes on the market.
During the housing bubble, many second homes were purchased with the mythical equity from primary residences. These second homes are coming onto the market at an alarming rate, as many middle- and upper-class sellers need to raise cash. In some very exclusive private communities in Florida, where home prices are in the seven figures, more than 50% of the homes are on the market. (For more on the vacation-home market, see Cover Story.)
Unfortunately, there are no signs of recovery, despite the hype and the twisting of numbers in many media reports. The end of the unofficial moratorium on foreclosures, combined with rising unemployment, signals that the back half of this housing hurricane is only just beginning.
more...
santb1975
05-29 10:48 PM
Thankyou for your contribution
Receipt ID: 0375-0762-4300-7538
Let's keep 'em comming!
Receipt ID: 0375-0762-4300-7538
Let's keep 'em comming!
srgadi
07-15 08:46 PM
Done. $10 for the two of us :)
more...
Ahimsa
08-10 11:11 AM
good point which has been overlooked.
thus one can say lack of social security numbers for spouse and kids of a high skilled immigrant waiting for gc causes sevaral administrative and taxation issues.
Please also note:
Gor GC waiters, the child tax credit will not be available for kids under age 1.
In Oct 2004, my kid was 6 months when she landed in US.
When she was 9 months in Jan 2005, I tried to include her in my tax returns but IRS said I can not include her until she becomes one year old.
This year 2006, I could include her after getting her an ITIN.
In short, child taxation issue is there only for one year at the maximum.
thus one can say lack of social security numbers for spouse and kids of a high skilled immigrant waiting for gc causes sevaral administrative and taxation issues.
Please also note:
Gor GC waiters, the child tax credit will not be available for kids under age 1.
In Oct 2004, my kid was 6 months when she landed in US.
When she was 9 months in Jan 2005, I tried to include her in my tax returns but IRS said I can not include her until she becomes one year old.
This year 2006, I could include her after getting her an ITIN.
In short, child taxation issue is there only for one year at the maximum.
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gc_on_demand
06-10 01:40 PM
In the last several months, the worldwide demand for immigrant visas in the EB-2 category has been lower than the State Department expected. To make sure that all available EB-2 immigrant visas are used, DOS has, since April, made some unused worldwide numbers available for China and India and will continue to do so in July. If worldwide demand for these visas increases, however, DOS could impose cut-off dates or declare the China or India EB-2 category unavailable, as it did for India in February 2008, possibly even in the middle of the month
What are chances of Eb2 india will become unavailbale. Core members is there any companign that we can do to move this thing forwards. I called CHC and local lawmakers.
What are chances of Eb2 india will become unavailbale. Core members is there any companign that we can do to move this thing forwards. I called CHC and local lawmakers.
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saint_2010
09-12 06:58 AM
Bump....
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pd_recapturing
11-24 05:21 PM
I left my GC sponser employer 3 months ago and joined new employer on EAD. I spoke to the new company's attorney to file H1B after 2 months of joining. She said that since I have completed 6 years of my H1B so it does not matter if I am on H1B or on EAD as none of them will provide safety net if something goes wrong on 485. Suddenly, after 15 days, I got an email from my Lawyers's office saying that my new company has given permission to them to apply a H1B extn for me and asked me to send the required docs. I am not sure what prompted them to apply my H1B as I had already given up H1B thing and was happy with EAD. I dont know, it might be something to do with charging fee from my new employer or something. Bottomline is no one knows about it and may be even USCIS might not have this scenario in their rule book.
One more thing, in one of the conversations with my new attorney, she mentioned that I can still work on EAD if 485 gets denied because of AC21 reason and MTR has been sent. She said, unless, 485 is denied because of some criminal reason, u can continue working during the MTR period. so another twist??
One more thing, in one of the conversations with my new attorney, she mentioned that I can still work on EAD if 485 gets denied because of AC21 reason and MTR has been sent. She said, unless, 485 is denied because of some criminal reason, u can continue working during the MTR period. so another twist??
more...
trojan
09-08 12:14 PM
Just Curious..
What is the APR that you guys pay for home loan?
I pay 10.5 % for a 19 lakh rs loan for the period of 10 years with HDFC.
I am happy with HDFC so far. no hidden fees..
What is the APR that you guys pay for home loan?
I pay 10.5 % for a 19 lakh rs loan for the period of 10 years with HDFC.
I am happy with HDFC so far. no hidden fees..
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bombaysardar
07-28 10:30 PM
^
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lskreddy
04-30 03:17 PM
Guiterrez (spelt wrong) was brilliant in stating how screwed the FB system. He was particularly clear on his examples for FB. Kudos to him..
And, they talked about the statute and bulletin mismatch of words...
And, they talked about the statute and bulletin mismatch of words...
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dingdong12
06-23 10:55 AM
well, i just made my first payment for $100 thru paypal
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Receipt ID: 14F00794MF330594S
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Libra
09-10 03:32 PM
thanks raminmd and miy_maqbool for your contributions.
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conchshell
07-11 10:46 AM
I have expected EB2 India would move Fast but I didnt expect it would move like Super Fast. Really good for EB2. But the thing infront of us now is to work for EB3 INDIA and EB3 ROW.
vdlrao, I was always impressed with your calculation that you presented before July Visa bulletin, however it seems to good to be true. But it seems your estimation and prediction were on a correct track.:)
vdlrao, I was always impressed with your calculation that you presented before July Visa bulletin, however it seems to good to be true. But it seems your estimation and prediction were on a correct track.:)
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kopra
05-02 09:43 AM
yes...it would have been nice if we got the stimulus pakage with this situation of spouse on H4/ITIN. I called my congresswomen and wrote a letter to IL Senator(obama) to let her/him know this issue. I dont expect any action, but since they are aware of this situation, may be next time when they give this pakage( may be 10 years from now) they will include H4's
Many H1s like me have their non-working spouses on H4 visa who are not given SSNs. Do we not pay taxes ? Do we not pay Social security ? We do, and therefore we should also be eligible for the Stimulus package. Indeed my son is autistic and disabled but we are not eligible for any kind of aid but we pay tons of taxes and social security. It is highly non-justified think. I know people will argue a lot if it is compared to slavery. But it is a "modern form of slavery". Yes, we are in this country with our own will but that is what they are making use of.
Many H1s like me have their non-working spouses on H4 visa who are not given SSNs. Do we not pay taxes ? Do we not pay Social security ? We do, and therefore we should also be eligible for the Stimulus package. Indeed my son is autistic and disabled but we are not eligible for any kind of aid but we pay tons of taxes and social security. It is highly non-justified think. I know people will argue a lot if it is compared to slavery. But it is a "modern form of slavery". Yes, we are in this country with our own will but that is what they are making use of.
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geesee
08-20 11:35 PM
Here in NJ(at least in Somerville), they ask for H1B approval notice. No need to have the visa stamped on passport.
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satyasaich
08-14 06:55 PM
"""The Mexico F2A and Employment Third preference cut-off dates are �unavailable� for both August and September, since those FY-2008 annual limits have been reached. The Visa Office had originally anticipated that this would be a temporary situation. Then with the start of the new fiscal year in October the cut-off dates would have returned to those which had applied during June. However, continued heavy demand in those categories may require the establishment of cut-off dates which are earlier than those which had applied in June. A formal decision determination of the October cut-off dates will not be possible until early September. """
Let's understand it ! I'm sure you are aware about July 2007 Visa Bulletin fiasco. It made every category "C". Before that in June 2007 bulletin - they moved dates for EB3 & EB2 singnificantly. For EB3 India - it moved from May 2001 to Jun 2003 - People who filed their AOS are 'June' applicants and People who filed because of July 2007 bulletin are 'July/Aug' applicants
DOS refering to these June applicants means having PD earlier than Jun 2003. I hope its clear to you.
If one thinks with cool head, what you said makes sense. also if you remember when EB3 (I) was actually retrgoressed on Jan1/2005, the PD was jun/2002. Then it was retrogressed all the way back to 1999 or something. Later on, slowly it came up to March/2001 & stopped there for a while due to the so called 'Hump' (due to 245i cases, i think)
AND slowly but steadily PD for EB-I crawled up to Nov/2001 until May2007.
Suddenly in June'07, the PD was advanced to June/2003 and i know so many pending cases were cleared around july and august of 2007.
So far what i've mentioned are all facts only.
Now looking forward for fiscal year allocations starting from Oct'2008, i can say the PD for EB-I will begin atleast Jun'2002. May be even a better PD but i'm not sure. For sure there is a good chance of making progress to end of 2003 when it comes to Sep'2009. This is based on availability of only those visa numbers as mandated by law as of today.
Any comments
Let's understand it ! I'm sure you are aware about July 2007 Visa Bulletin fiasco. It made every category "C". Before that in June 2007 bulletin - they moved dates for EB3 & EB2 singnificantly. For EB3 India - it moved from May 2001 to Jun 2003 - People who filed their AOS are 'June' applicants and People who filed because of July 2007 bulletin are 'July/Aug' applicants
DOS refering to these June applicants means having PD earlier than Jun 2003. I hope its clear to you.
If one thinks with cool head, what you said makes sense. also if you remember when EB3 (I) was actually retrgoressed on Jan1/2005, the PD was jun/2002. Then it was retrogressed all the way back to 1999 or something. Later on, slowly it came up to March/2001 & stopped there for a while due to the so called 'Hump' (due to 245i cases, i think)
AND slowly but steadily PD for EB-I crawled up to Nov/2001 until May2007.
Suddenly in June'07, the PD was advanced to June/2003 and i know so many pending cases were cleared around july and august of 2007.
So far what i've mentioned are all facts only.
Now looking forward for fiscal year allocations starting from Oct'2008, i can say the PD for EB-I will begin atleast Jun'2002. May be even a better PD but i'm not sure. For sure there is a good chance of making progress to end of 2003 when it comes to Sep'2009. This is based on availability of only those visa numbers as mandated by law as of today.
Any comments
dwhuser
02-23 10:45 AM
Me too. Actually , when the movement is not systematic and the gates are wide open, then they randomly pick up the cases and approve whatever file comes to them. The ones with older PDs suffer a lot while the ones with new ones get their GCs.
I totally hear ya.....
I totally hear ya.....
h1techSlave
10-01 01:42 PM
IV is looking in the right direction in the long term.
IV, sure is looking at a long term solution. I did not criticize that strategy. IV should continue to work for a permanent fix.
Currently for IV, this long term fix is the #1 priority. I was suggesting that IV should make the long term fix a #2 priority. And make #1 priority as improving efficiency at USCIS.
IV, sure is looking at a long term solution. I did not criticize that strategy. IV should continue to work for a permanent fix.
Currently for IV, this long term fix is the #1 priority. I was suggesting that IV should make the long term fix a #2 priority. And make #1 priority as improving efficiency at USCIS.
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