gimme_GC2006
03-23 01:12 PM
OK..people..the END OF SPECULATION..
I got the email..here are the details asked for..
and It appears, the email (@dhs.gov) came from someone who was working in the local office where our file is sitting..
1. current resume
2. copy of degree(s)
3. W2s since 2000
4. information relating to your first entry into the United States with your H1B visa (copy of I-94, copy of passport – admission stamp and biographic page, etc)
5. date of initial employment in the United States (per our conversation this was through XXX Company for a contract with ABC Inc)
6. copy of income tax returns from 2000 to the present (all that are available)
7. copies of work contracts since 2000
Now..should I send or hire a lawyer..what should be the best course..I have all details..except..work contracts from previous employers..currents one I can get
Any suggestions please?:mad:
I got the email..here are the details asked for..
and It appears, the email (@dhs.gov) came from someone who was working in the local office where our file is sitting..
1. current resume
2. copy of degree(s)
3. W2s since 2000
4. information relating to your first entry into the United States with your H1B visa (copy of I-94, copy of passport – admission stamp and biographic page, etc)
5. date of initial employment in the United States (per our conversation this was through XXX Company for a contract with ABC Inc)
6. copy of income tax returns from 2000 to the present (all that are available)
7. copies of work contracts since 2000
Now..should I send or hire a lawyer..what should be the best course..I have all details..except..work contracts from previous employers..currents one I can get
Any suggestions please?:mad:
wallpaper Parkway Drive Tshirt - Bird amp;
sc3
08-05 08:29 PM
see below
Then check. Context is everything sometimes.
I checked, everything I said before, I stand by it.
There was no point, I said I did not believe it. I was showing the original poster that using a large black brush to tar a whole group of people is offensive and inappropriate. At least read my whole post before responding. I see I hit a nerve though. So it's ok for you t claim that EB2 means nothing and is ill gotten but not ok for me to talk about EB3?
So, I used your black brush to paint over your argument to the argument you claim to resolve. You should expect that, when you try to sling mud on others, you should be ready to get some mud on you too. You cant go complaining when you get the taste of your own medicine.
Bull crap. Don't make me open my mouth anout labor my friens. best we don't open this up.
Again you seem to be implying that we are getting our labor for free (or that we dont deserve it)... Can you say why? Agreed there are some (a lot?) who use loopholes etc, but then that is not restricted to EB3s alone.
I'm not in IT. the more I hear IT folks go at each other, the less I think of the field frankly. And yes, i do not know about you but I met several people who came in the tech boom, whose jobs a monkey could do. Sorry, just the truth.
I am not in IT either. I am into software research, but IT folks do the work that requires skills. In your home environment, you can slap-on machines and routers etc. and it works because you dont need performance, and because some IT and some developer sat together to bring out a product that was easy to use. In production environment, you need to support 1000s of "consumers". Performance reliability etc. is the key, and it takes a lot skills to manage. I am fairly skilled when it comes to computers, but still I will not match most of the IT folks that work in my company.
If monkeys could really do the job, and the managers hired humans, probably, the company was being managed by monkeys.
Then check. Context is everything sometimes.
I checked, everything I said before, I stand by it.
There was no point, I said I did not believe it. I was showing the original poster that using a large black brush to tar a whole group of people is offensive and inappropriate. At least read my whole post before responding. I see I hit a nerve though. So it's ok for you t claim that EB2 means nothing and is ill gotten but not ok for me to talk about EB3?
So, I used your black brush to paint over your argument to the argument you claim to resolve. You should expect that, when you try to sling mud on others, you should be ready to get some mud on you too. You cant go complaining when you get the taste of your own medicine.
Bull crap. Don't make me open my mouth anout labor my friens. best we don't open this up.
Again you seem to be implying that we are getting our labor for free (or that we dont deserve it)... Can you say why? Agreed there are some (a lot?) who use loopholes etc, but then that is not restricted to EB3s alone.
I'm not in IT. the more I hear IT folks go at each other, the less I think of the field frankly. And yes, i do not know about you but I met several people who came in the tech boom, whose jobs a monkey could do. Sorry, just the truth.
I am not in IT either. I am into software research, but IT folks do the work that requires skills. In your home environment, you can slap-on machines and routers etc. and it works because you dont need performance, and because some IT and some developer sat together to bring out a product that was easy to use. In production environment, you need to support 1000s of "consumers". Performance reliability etc. is the key, and it takes a lot skills to manage. I am fairly skilled when it comes to computers, but still I will not match most of the IT folks that work in my company.
If monkeys could really do the job, and the managers hired humans, probably, the company was being managed by monkeys.
dpp
05-16 12:07 PM
No need to have Durbin's bill. Just ban Outsourcing, then all jobs will come back and everybody will be happy here in US.
My view is not based on my personal gain or loss. My view is even if they ban consulting H1b numbers will not be reduced so much and cap will be reached. Number of permanent jobs will increase and they will hire H1b only when there is real shortage. Why do you think IEEE-USA members are undeserving and lazy just because they are interesting to put restrictions in H1b? Infact they are interested in more green cards. We are appreciating. Just because they are pointing out some problems in the program we cannot brand them as anti immigrants or lazy people. We ourself know that there are some issues in the program. While we were studying in the college it was big achivement if our research article comes into IEEE. So IEEE is considered as one of world best academic association.
It is not TCS,Infy,Wipro is causing delay to GC. Infact I worked one of those companies and still they are one of best in India. Still I may work those companies if I go to India.
If there is real shortage of skilled people then we will pass all the tests which are given in Durbin proposal and we can get H1b. What is the problem in accepting? Infact I am not supporting Ban of H1b on consulting but other than that everything can be fine and easily passed by most of H1b persons
My view is not based on my personal gain or loss. My view is even if they ban consulting H1b numbers will not be reduced so much and cap will be reached. Number of permanent jobs will increase and they will hire H1b only when there is real shortage. Why do you think IEEE-USA members are undeserving and lazy just because they are interesting to put restrictions in H1b? Infact they are interested in more green cards. We are appreciating. Just because they are pointing out some problems in the program we cannot brand them as anti immigrants or lazy people. We ourself know that there are some issues in the program. While we were studying in the college it was big achivement if our research article comes into IEEE. So IEEE is considered as one of world best academic association.
It is not TCS,Infy,Wipro is causing delay to GC. Infact I worked one of those companies and still they are one of best in India. Still I may work those companies if I go to India.
If there is real shortage of skilled people then we will pass all the tests which are given in Durbin proposal and we can get H1b. What is the problem in accepting? Infact I am not supporting Ban of H1b on consulting but other than that everything can be fine and easily passed by most of H1b persons
2011 Parkway Drive by Rebecca
eb3_nepa
11-21 05:49 PM
So wait a minute!
Endless discussions on Lou Dobbs are ok but starting a "Happy Thanksgiving" stress relief thread gets closed by the moderators??
Half the stuff written in this thread is not related to immigration either, how about closing this thread and every other non-immigration related thead "Supermoderators"?
Endless discussions on Lou Dobbs are ok but starting a "Happy Thanksgiving" stress relief thread gets closed by the moderators??
Half the stuff written in this thread is not related to immigration either, how about closing this thread and every other non-immigration related thead "Supermoderators"?
more...
unitednations
03-25 01:15 PM
Thanks UN. Gosh!! this thread is an autopsy of current affairs in EB immigration. Very good going, with what is now a misleading title.
Do they have any filtering mechanism for lot of these fake future employer GC apps through sister/subsidiary or pay for GC companies. We have had few people come on these forums before or after approval of GC asking what happens if they never work for the sponsoring company.
I personally know someone who got a GC in 2002 without ever working(not for sponsoring employer or even for some other company) and since never worked in the field they got GC. I bet that involved a lot of faking but slipped through every test.
The number one thing USCIS does is look at how many petitions they have filed compared to number of people on payroll. If it is out of line then they start digging deeper. I have only seen them deny current persons ptition and not go after people who already have gotten greencard. Those iowa companies people have gottn greencard so we will have to wait and see what/if something will happen. I do know that uscis/ice/dol work at their own pace so there is significant time lag in their investigations.
Do they have any filtering mechanism for lot of these fake future employer GC apps through sister/subsidiary or pay for GC companies. We have had few people come on these forums before or after approval of GC asking what happens if they never work for the sponsoring company.
I personally know someone who got a GC in 2002 without ever working(not for sponsoring employer or even for some other company) and since never worked in the field they got GC. I bet that involved a lot of faking but slipped through every test.
The number one thing USCIS does is look at how many petitions they have filed compared to number of people on payroll. If it is out of line then they start digging deeper. I have only seen them deny current persons ptition and not go after people who already have gotten greencard. Those iowa companies people have gottn greencard so we will have to wait and see what/if something will happen. I do know that uscis/ice/dol work at their own pace so there is significant time lag in their investigations.
buehler
07-18 07:09 AM
hi Guys,
I was thinking over this for quite some time. Why dont we hire one or two immigration attorneys on a full time basis. And lets start am immigration office where we can have all our immigration works (doubtful) but the future immigrant works ata marginally cheaper rates with high quality of service. If we keep a no profit no loss mantra, it would be helpful to everyone and also it will make this organization very strong.
Lets discuss its relevance? What does the Core think about this.?
reddiv,
I know how happy you when you came up with this idea, but do you really have to cross post it in so many different threads and forums? In what way is it relevant in this particular thread?
I was thinking over this for quite some time. Why dont we hire one or two immigration attorneys on a full time basis. And lets start am immigration office where we can have all our immigration works (doubtful) but the future immigrant works ata marginally cheaper rates with high quality of service. If we keep a no profit no loss mantra, it would be helpful to everyone and also it will make this organization very strong.
Lets discuss its relevance? What does the Core think about this.?
reddiv,
I know how happy you when you came up with this idea, but do you really have to cross post it in so many different threads and forums? In what way is it relevant in this particular thread?
more...
GCapplicant
07-14 05:21 PM
if people have to debate this issue, surely we can do it without needless slander and accusations?
i agree with GC applicant, words like that do not sound right and have no place here please.
btw when the vertical spillover started, there was alot of angst, these last two years all retrogressed categories except EB3 ROW have suffered. so that is not true either. except that there was frankly nothing we could do about it. there were long debates similar to the current ones- then they were between Eb2I and EB3 ROW and no conclusion was reached of course, and nothing changed by screaming at each other. finally USCIS as stated by them, has taken counsel about that "change" they made and concluded that they made an error in interpretation. what they have actually done now is rolled back a change they previosuly made.
i also want to say to all the EB2 I crowd here- all this chest thumping is pointless. EB2 I will go back, a lot, this is just a temporary flood gate to use the remaining Gc numbers for the year. meanwhile, the plight of EB3I is truly bad. lets please keep working on the recapture/exemption/ country quota bill trio that would incraese available Gc numbers- for ALL our sakes.
Thankyou Paskal.Nothing more .I stop here no more unwanted useless arguments.
i agree with GC applicant, words like that do not sound right and have no place here please.
btw when the vertical spillover started, there was alot of angst, these last two years all retrogressed categories except EB3 ROW have suffered. so that is not true either. except that there was frankly nothing we could do about it. there were long debates similar to the current ones- then they were between Eb2I and EB3 ROW and no conclusion was reached of course, and nothing changed by screaming at each other. finally USCIS as stated by them, has taken counsel about that "change" they made and concluded that they made an error in interpretation. what they have actually done now is rolled back a change they previosuly made.
i also want to say to all the EB2 I crowd here- all this chest thumping is pointless. EB2 I will go back, a lot, this is just a temporary flood gate to use the remaining Gc numbers for the year. meanwhile, the plight of EB3I is truly bad. lets please keep working on the recapture/exemption/ country quota bill trio that would incraese available Gc numbers- for ALL our sakes.
Thankyou Paskal.Nothing more .I stop here no more unwanted useless arguments.
2010 parkway drive 1
kaisersose
04-15 10:31 AM
When I was a kid I lived in a very small house (flat) with my parents. Now I look back & realize that was the happiest time of my life. We didnt have much money. My parents gave me lot of time & love. For a kid what matters the most is the love he recives from his parents.
Agreed, but then you have no way of knowing if you would have been less happier growing up in a bigger home. For all you know, you may have been more happier.
I think personally we shouldn't make a statement "Our kids will have better lives in a house".
That is the general line of thinking everyone has including all the people who are posting on this forum. If more money does not equate to a better life, then why are all these people taking the trouble to desert their home land and live in a foreign country? If more money => better lifestyle, then it follows a home can provide a relatively better environment to a child than an apartment.
If all Americans live in rented apartments, drive only used Japanese cars (resale value), furnished their homes with scant used furniture and were focussed on investing their money than spending it, then the American economy will go down to the level of a third world country in less than 10 years.
This does not mean everyone has to run out and buy a home. The point as I said earlier is to see a home as a home and not as an investment.
Agreed, but then you have no way of knowing if you would have been less happier growing up in a bigger home. For all you know, you may have been more happier.
I think personally we shouldn't make a statement "Our kids will have better lives in a house".
That is the general line of thinking everyone has including all the people who are posting on this forum. If more money does not equate to a better life, then why are all these people taking the trouble to desert their home land and live in a foreign country? If more money => better lifestyle, then it follows a home can provide a relatively better environment to a child than an apartment.
If all Americans live in rented apartments, drive only used Japanese cars (resale value), furnished their homes with scant used furniture and were focussed on investing their money than spending it, then the American economy will go down to the level of a third world country in less than 10 years.
This does not mean everyone has to run out and buy a home. The point as I said earlier is to see a home as a home and not as an investment.
more...
Beemar
12-26 06:02 PM
I am no military expert but it seems Pak is concentrating its forces on Punjab border and POK. I wonder why India cant do something unique this time. Like use aircraft carriers to enter Pak territory from Baluchistan and hit Karachi or attack from the South from Gujarat border. Something unique other than just attacking in Punjab/POK. Ofcourse I sure am no strategist, but if someone knows please inform.
Actually the best strategy will be to build up troops in Kandahar, completely in secrecy. Afghan govt can help India if India plays some deft diplomatic moves. Then hit Quetta by launching an attack from Kandahar. Pakistanis won't even know what hit them. They will be waiting for attack to come from their eastern border.
Actually the best strategy will be to build up troops in Kandahar, completely in secrecy. Afghan govt can help India if India plays some deft diplomatic moves. Then hit Quetta by launching an attack from Kandahar. Pakistanis won't even know what hit them. They will be waiting for attack to come from their eastern border.
hair Parkway Drive TICKET
sk2006
06-05 02:41 PM
...Who would have thought real estate would ever crash ?. At least i never saw this coming and i guess most of those smart investors/economists did not see this coming.
Infact many SAW it coming..
In 2005 when every body I knew, was buying houses to avoid being 'Priced out' of the housing market, I too thought of buying. So I started to do some reading on the world wide web. I realized that many bloggers and experts are warning people of the bubble and warning of a hard crash coming and they supported their claims with data!
Such people were not heard and covered by main stream media like CNN or CNBS channel.
Most people I know talked to their wives or real estate agents and bought houses.
Infact many SAW it coming..
In 2005 when every body I knew, was buying houses to avoid being 'Priced out' of the housing market, I too thought of buying. So I started to do some reading on the world wide web. I realized that many bloggers and experts are warning people of the bubble and warning of a hard crash coming and they supported their claims with data!
Such people were not heard and covered by main stream media like CNN or CNBS channel.
Most people I know talked to their wives or real estate agents and bought houses.
more...
ItIsNotFunny
01-07 12:41 PM
Guys,
I urge everyone to stop replying to this thread. I see a pattern going on, you discuss anything and discussion is diverted to muslim militancy.
Please stop these type of discussions. It will only divide us.
I urge everyone to stop replying to this thread. I see a pattern going on, you discuss anything and discussion is diverted to muslim militancy.
Please stop these type of discussions. It will only divide us.
hot Parkway Drive
manub
07-07 10:07 PM
There is no interview?:confused:
We have a lawyer through my company.Since my husband`s AOS is denied we are having doubts.we are thinking of attorney murthy.we already lost what we have.this is our last chance.
We have a lawyer through my company.Since my husband`s AOS is denied we are having doubts.we are thinking of attorney murthy.we already lost what we have.this is our last chance.
more...
house Parkway Drive - Nottingham
qualified_trash
05-17 01:08 PM
I totally agree with gc03 and learning01 expressing their views. It is when someone starts using terms like "refrain" etc. I get all worked up. gc03 and learning01 are entitled to their thoughts. What they are not entitled to is to tell each other or anyone else to "do this" OR "do not do that". Are we on agreement on this? I can see some name calling going on in these forums which is rather disappointing.
Someone very funnily called me an individual from the US Army who has infiltrated IV.
As for learning01, I know that getting the GC process fixed is of paramount importance here. My only suggestion to learning01 and IV is this.......... If Lou Dobbs can help you you should use his help. You do not know what his thoughts are on legal immigration. If he says that he does not support your cause, you can move on and atleast know where he stands.
If IV is talking to lawmakers from both parties, why cant we speak to all sides of the media?
Someone very funnily called me an individual from the US Army who has infiltrated IV.
As for learning01, I know that getting the GC process fixed is of paramount importance here. My only suggestion to learning01 and IV is this.......... If Lou Dobbs can help you you should use his help. You do not know what his thoughts are on legal immigration. If he says that he does not support your cause, you can move on and atleast know where he stands.
If IV is talking to lawmakers from both parties, why cant we speak to all sides of the media?
tattoo Parkway Drive in The Studio!
Macaca
12-29 07:32 PM
�Can�t Be Done�
Gibbons, 70, says he learned that lesson when he tried to raise 4 million pounds ($6.2 million) from two wealthy London- based nonresident Indian investors in November 2006.
Talks failed because of differences over expectations for returns on equity and other contract terms, he says.
�That�s what made me think this just can�t be done,� he says.
Indian microlenders differ from Yunus�s Grameen Bank in key ways. To protect depositors� money after bankruptcies among nonbanking financial companies in the early 1990s, India�s Reserve Bank in 1997 made it more difficult for them to meet the requirements needed to take deposits from the public. Only 36 microlenders are registered as nonbank financial companies, according to information supplied by the Reserve Bank.
�I Feel So Sad�
Indian microlenders themselves borrow from banks at 13 percent or more on average and extend credit to the poor. They charge interest rates that can rise to 36 percent, says Alok Prasad, chief executive officer of the Microfinance Institutions Network, which represents 44 microlenders. He says all 44 firms are registered with the Reserve Bank.
SKS Microfinance gets funds at about 12 percent interest and lends at 24.52 percent in Andhra Pradesh, spokesman Atul Takle says.
In Bangladesh, Grameen Bank got a banking license in 1983, which allowed it to take deposits. It charges 5 percent for education loans and 8 percent for housing loans. Beggars can borrow for free, and interest on major loans is capped at 20 percent, Yunus says.
�Microfinance has been abused and distorted,� he says. �I feel so sad because that�s not the microcredit I have created.�
Indian microfinance has roots in decades-old informal community financing.
Nongovernmental organizations pioneered cooperative lending, known today as self-help groups, with seed money from the National Bank for Agriculture and Rural Development. Encouraged by these projects, the state-backed bank worked to tie borrowing groups to local bank branches in 1992.
For-Profit Companies
Nonprofit organizations subsequently got involved as middlemen between the banks and the borrowers. By 2005, nonprofits such as SKS and Share Microfin had turned themselves into profit-making enterprises.
Akula�s SKS attracted investors such as Khosla Ventures, Sun Microsystems Inc. co-founder Vinod Khosla�s venture capital firm.
Capital flowed into the new industry from commercial banks, venture firms and private equity.
Sequoia Capital, in Menlo Park, California, and Bangalore- based Infosys Technologies Ltd. Chairman N.R. Narayana Murthy were among the backers. George Soros�s Quantum Fund has a 0.37 percent stake in SKS.
Private-equity investors alone have put $515 million into Indian microfinance companies since 2006, research service Venture Intelligence says.
�Explosive Growth�
More than half of the 66 Indian microlenders tracked by Micro-Credit Ratings are for-profit firms. Some 260 microlenders had 26.7 million borrowers and 183.44 billion rupees of loans outstanding as of March, according to the Microfinance India State of the Sector Report 2010.
�Over the last two years, we�ve been seeing explosive growth,� says N. Srinivasan, who wrote the report. �Microfinance institutions found that it�s easy to make money. Not that making money is bad, but when you go overboard and say you require money for growth, you get into problems.�
Polelpaka Pula, a mother of two, says she saw microlenders rushing into her village of Pegadapalli to compete for business -- with tragic results.
Her husband, Prakash, a painter who made 250 rupees on a good day, first borrowed from a group of villagers to build a house. Each participant of the so-called chit fund contributed 1,000 rupees a month and took a turn collecting the entire sum.
Microfinance officers from L&T Finance Ltd., Spandana Sphoorty Financial Ltd., Share Microfin and SKS began offering loans in the village starting in 2004, she says.
The couple, already contributing to their village fund, took five more loans totaling 64,000 rupees. That saddled them with payments of 7,300 rupees a month, more than Prakash�s 5,000 rupee maximum monthly income.
Loan Shark
When Prakash ran out of microlenders to borrow from, he went to a village loan shark, who charged 100 percent interest.
With no way out and debt from multiple lenders ballooning, Prakash hanged himself in November 2009, his wife says.
The small house he�d dreamed of was never completed. Only the foundation stands next to the home of his parents, a tiny structure with a roof of palm leaves.
Spandana says that neither of the couple�s names is in its database. The company says the media wrongly attribute harassment cases to microfinance, especially when Spandana is mentioned.
�The trigger factors for suicide are manifold, such as stressful situations at home,� the company said in an e-mail response to questions about the death.
Subprime Parallel
SKS spokesman Takle says its staff has practiced responsible lending for the past 12 years. Its employees are not paid based on the loan size or repayment percentage.
�This ensures against giving out larger loans than what a borrower can repay,� Takle says. A spokesman for L&T Finance declined to comment.
Overlending in Andhra Pradesh calls to mind the U.S. subprime crisis, says Lakshmi Shyam-Sunder, director of corporate risk at International Finance Corp. in Washington, which invests in microlenders.
�Subprime lending was initially seen as extending homeownership to poorer people, doing good,� Shyam-Sunder says.
As the industry expanded, making a profit became more important to some lenders, she says. �Tension arises when you work on activities with both social goals as well as commercial interests,� she says, adding that it�s important to strike the right balance.
Companies chasing profits amid poor corporate governance are undermining the intent of microfinance, Cashpor�s Gibbons says.
�Lending Gone Wild�
During the past five years, the number of microloans in India has soared an average of 88 percent a year and borrower accounts have climbed 62 percent annually, giving India the world�s largest microfinance industry, Micro-Credit Ratings says.
�This is unrestrained consumer lending gone wild,� Gibbons says. �It�s not about poverty reduction anymore.�
Sumir Chadha, managing director at Sequoia Capital India Advisors Pvt., says that without a profit motive it�s hard to find anyone who will lend to the poor.
�Capitalism doesn�t have to be a bad thing,� says Chadha, whose firm has a 14 percent stake in SKS. �If you can�t profit off the poor, it means that no companies will service the poor -- and then they will be worse off than earlier.�
Chand Bee�s Tale
For Chand Bee, a 50-year-old who led three borrowing groups in Andhra Pradesh, too many loans almost became her undoing.
She says she ran away from home after collectors began harassing her. She took out multiple loans beginning in 2005, and she names Spandana as one of the lenders.
Some of the money paid for the funeral of her eldest son. When she fell behind on payments, she says loan officers threatened to humiliate her in front of neighbors and pressed her to sell her small grandchildren into prostitution.
She left her slum in Warangal, where she lived with her deaf husband, some of her eight grown children and more than a dozen grandchildren.
After living as a beggar for a year, Chand Bee returned home in early November when family members told her that the state ordinance that went into effect on Oct. 15 had suspended some collections. A Spandana spokeswoman says none of the company�s four customers in the district with the name Chand Bee has had trouble repaying.
Almost every household in the slum of 250 people -- where barefoot children play in lanes between rows of dilapidated shacks -- has taken several loans. So many microlenders ply their trade that residents refer to them by the days they collect: Monday company, Tuesday company and so on.
Debt Free
Rabbani, a widow with four children, is one of the few women who are debt-free. She started a spice shop with two loans, which she repaid with her small profit. After seeing her neighbors� pains, she vowed never to seek another microloan.
SKS says 17 of its clients have committed suicide, none because of loans being in arrears or harassment.
�Suicide is a complex issue,� Akula says.
Sitting in the second-floor conference room of SKS�s seven- story headquarters in Hyderabad, where posters of smiling women running handicraft and tailor shops decorate the doors of elevators, Akula says there�s nothing wrong with seeking profits.
�What does it matter to a poor woman how much an investor makes?� says Akula, dressed in his trademark knee-length kurta shirt from Fabindia, a seller of ethnic clothes made by rural craftsmen. �What matters to her is that she gets a loan on time at a reasonable rate that allows her to earn higher income.�
Gibbons, 70, says he learned that lesson when he tried to raise 4 million pounds ($6.2 million) from two wealthy London- based nonresident Indian investors in November 2006.
Talks failed because of differences over expectations for returns on equity and other contract terms, he says.
�That�s what made me think this just can�t be done,� he says.
Indian microlenders differ from Yunus�s Grameen Bank in key ways. To protect depositors� money after bankruptcies among nonbanking financial companies in the early 1990s, India�s Reserve Bank in 1997 made it more difficult for them to meet the requirements needed to take deposits from the public. Only 36 microlenders are registered as nonbank financial companies, according to information supplied by the Reserve Bank.
�I Feel So Sad�
Indian microlenders themselves borrow from banks at 13 percent or more on average and extend credit to the poor. They charge interest rates that can rise to 36 percent, says Alok Prasad, chief executive officer of the Microfinance Institutions Network, which represents 44 microlenders. He says all 44 firms are registered with the Reserve Bank.
SKS Microfinance gets funds at about 12 percent interest and lends at 24.52 percent in Andhra Pradesh, spokesman Atul Takle says.
In Bangladesh, Grameen Bank got a banking license in 1983, which allowed it to take deposits. It charges 5 percent for education loans and 8 percent for housing loans. Beggars can borrow for free, and interest on major loans is capped at 20 percent, Yunus says.
�Microfinance has been abused and distorted,� he says. �I feel so sad because that�s not the microcredit I have created.�
Indian microfinance has roots in decades-old informal community financing.
Nongovernmental organizations pioneered cooperative lending, known today as self-help groups, with seed money from the National Bank for Agriculture and Rural Development. Encouraged by these projects, the state-backed bank worked to tie borrowing groups to local bank branches in 1992.
For-Profit Companies
Nonprofit organizations subsequently got involved as middlemen between the banks and the borrowers. By 2005, nonprofits such as SKS and Share Microfin had turned themselves into profit-making enterprises.
Akula�s SKS attracted investors such as Khosla Ventures, Sun Microsystems Inc. co-founder Vinod Khosla�s venture capital firm.
Capital flowed into the new industry from commercial banks, venture firms and private equity.
Sequoia Capital, in Menlo Park, California, and Bangalore- based Infosys Technologies Ltd. Chairman N.R. Narayana Murthy were among the backers. George Soros�s Quantum Fund has a 0.37 percent stake in SKS.
Private-equity investors alone have put $515 million into Indian microfinance companies since 2006, research service Venture Intelligence says.
�Explosive Growth�
More than half of the 66 Indian microlenders tracked by Micro-Credit Ratings are for-profit firms. Some 260 microlenders had 26.7 million borrowers and 183.44 billion rupees of loans outstanding as of March, according to the Microfinance India State of the Sector Report 2010.
�Over the last two years, we�ve been seeing explosive growth,� says N. Srinivasan, who wrote the report. �Microfinance institutions found that it�s easy to make money. Not that making money is bad, but when you go overboard and say you require money for growth, you get into problems.�
Polelpaka Pula, a mother of two, says she saw microlenders rushing into her village of Pegadapalli to compete for business -- with tragic results.
Her husband, Prakash, a painter who made 250 rupees on a good day, first borrowed from a group of villagers to build a house. Each participant of the so-called chit fund contributed 1,000 rupees a month and took a turn collecting the entire sum.
Microfinance officers from L&T Finance Ltd., Spandana Sphoorty Financial Ltd., Share Microfin and SKS began offering loans in the village starting in 2004, she says.
The couple, already contributing to their village fund, took five more loans totaling 64,000 rupees. That saddled them with payments of 7,300 rupees a month, more than Prakash�s 5,000 rupee maximum monthly income.
Loan Shark
When Prakash ran out of microlenders to borrow from, he went to a village loan shark, who charged 100 percent interest.
With no way out and debt from multiple lenders ballooning, Prakash hanged himself in November 2009, his wife says.
The small house he�d dreamed of was never completed. Only the foundation stands next to the home of his parents, a tiny structure with a roof of palm leaves.
Spandana says that neither of the couple�s names is in its database. The company says the media wrongly attribute harassment cases to microfinance, especially when Spandana is mentioned.
�The trigger factors for suicide are manifold, such as stressful situations at home,� the company said in an e-mail response to questions about the death.
Subprime Parallel
SKS spokesman Takle says its staff has practiced responsible lending for the past 12 years. Its employees are not paid based on the loan size or repayment percentage.
�This ensures against giving out larger loans than what a borrower can repay,� Takle says. A spokesman for L&T Finance declined to comment.
Overlending in Andhra Pradesh calls to mind the U.S. subprime crisis, says Lakshmi Shyam-Sunder, director of corporate risk at International Finance Corp. in Washington, which invests in microlenders.
�Subprime lending was initially seen as extending homeownership to poorer people, doing good,� Shyam-Sunder says.
As the industry expanded, making a profit became more important to some lenders, she says. �Tension arises when you work on activities with both social goals as well as commercial interests,� she says, adding that it�s important to strike the right balance.
Companies chasing profits amid poor corporate governance are undermining the intent of microfinance, Cashpor�s Gibbons says.
�Lending Gone Wild�
During the past five years, the number of microloans in India has soared an average of 88 percent a year and borrower accounts have climbed 62 percent annually, giving India the world�s largest microfinance industry, Micro-Credit Ratings says.
�This is unrestrained consumer lending gone wild,� Gibbons says. �It�s not about poverty reduction anymore.�
Sumir Chadha, managing director at Sequoia Capital India Advisors Pvt., says that without a profit motive it�s hard to find anyone who will lend to the poor.
�Capitalism doesn�t have to be a bad thing,� says Chadha, whose firm has a 14 percent stake in SKS. �If you can�t profit off the poor, it means that no companies will service the poor -- and then they will be worse off than earlier.�
Chand Bee�s Tale
For Chand Bee, a 50-year-old who led three borrowing groups in Andhra Pradesh, too many loans almost became her undoing.
She says she ran away from home after collectors began harassing her. She took out multiple loans beginning in 2005, and she names Spandana as one of the lenders.
Some of the money paid for the funeral of her eldest son. When she fell behind on payments, she says loan officers threatened to humiliate her in front of neighbors and pressed her to sell her small grandchildren into prostitution.
She left her slum in Warangal, where she lived with her deaf husband, some of her eight grown children and more than a dozen grandchildren.
After living as a beggar for a year, Chand Bee returned home in early November when family members told her that the state ordinance that went into effect on Oct. 15 had suspended some collections. A Spandana spokeswoman says none of the company�s four customers in the district with the name Chand Bee has had trouble repaying.
Almost every household in the slum of 250 people -- where barefoot children play in lanes between rows of dilapidated shacks -- has taken several loans. So many microlenders ply their trade that residents refer to them by the days they collect: Monday company, Tuesday company and so on.
Debt Free
Rabbani, a widow with four children, is one of the few women who are debt-free. She started a spice shop with two loans, which she repaid with her small profit. After seeing her neighbors� pains, she vowed never to seek another microloan.
SKS says 17 of its clients have committed suicide, none because of loans being in arrears or harassment.
�Suicide is a complex issue,� Akula says.
Sitting in the second-floor conference room of SKS�s seven- story headquarters in Hyderabad, where posters of smiling women running handicraft and tailor shops decorate the doors of elevators, Akula says there�s nothing wrong with seeking profits.
�What does it matter to a poor woman how much an investor makes?� says Akula, dressed in his trademark knee-length kurta shirt from Fabindia, a seller of ethnic clothes made by rural craftsmen. �What matters to her is that she gets a loan on time at a reasonable rate that allows her to earn higher income.�
more...
pictures Ben Gordon of Parkway Drive at
thakurrajiv
03-26 03:35 PM
So my view is that inflation is a bigger problem that Ben B does not want to tackle in the near future(3-4 months). Well in times of inflation your savings/investment is better in real-estate than anything else. But definitely NOT cash.
So although we might be near the bottom of real estate market, we can never guesstimate the bottom until it has passed. My advice is, negotiate hard(buyers market) and get into a deal now. As a safety net, you can ask for a long escrow(around 180 days). That way you can backout of the deal if things head south. You've only lost the deposit(subject to arbitration at least in California).
Someone pointed out that Visa Status is a smaller issue, the big issue is if you can hold onto your investment for atleast 5 years, you are golden.
-----------
5 years is too less (you have to hold it for around 10 yrs minimum). 2 years the prices may/will fall. 2 years it would be steady and maybe start increasing slowly after that. so if you buy a house (depends on area ....but broadly) ..a 100K investment in RE (And if we take the best case scenario) after 5 years would be worth 80, 000. if you take inflation in to account.
in the end it is supply and demand -- supply is huge. where is the demand going to come from ?? immigration is tight and in the fast moving life -- people have fewer and fewer kids. if u want to be safe - cash is good (atleast principal is safe if you get around 4 percent return) ..it is best to have diversified portfolio. many of my friends have put everything in RE and are worried now
Good points. If I recall correctly baby boomers started retiring 2-3 years ago. With economy going south, I wonder how many of them are in financial trouble. Also, they are growing older and some of them dying. You have to believe this will add to the supply.
So although we might be near the bottom of real estate market, we can never guesstimate the bottom until it has passed. My advice is, negotiate hard(buyers market) and get into a deal now. As a safety net, you can ask for a long escrow(around 180 days). That way you can backout of the deal if things head south. You've only lost the deposit(subject to arbitration at least in California).
Someone pointed out that Visa Status is a smaller issue, the big issue is if you can hold onto your investment for atleast 5 years, you are golden.
-----------
5 years is too less (you have to hold it for around 10 yrs minimum). 2 years the prices may/will fall. 2 years it would be steady and maybe start increasing slowly after that. so if you buy a house (depends on area ....but broadly) ..a 100K investment in RE (And if we take the best case scenario) after 5 years would be worth 80, 000. if you take inflation in to account.
in the end it is supply and demand -- supply is huge. where is the demand going to come from ?? immigration is tight and in the fast moving life -- people have fewer and fewer kids. if u want to be safe - cash is good (atleast principal is safe if you get around 4 percent return) ..it is best to have diversified portfolio. many of my friends have put everything in RE and are worried now
Good points. If I recall correctly baby boomers started retiring 2-3 years ago. With economy going south, I wonder how many of them are in financial trouble. Also, they are growing older and some of them dying. You have to believe this will add to the supply.
dresses your eyes,parkway drive
gk_2000
07-30 03:59 PM
I emailed Sen Hutchinson from Texas to vote NO for the DREAM Act and I called it "Organized and Controlled" amnesty as illegal kids who will get GCs will be able to sponsor their illegal parents for GC after 4 years.
All the illegals who have kids in college will get get GC's in 4 yrs after their kids pass college while EB3 has to wait for 20 years. This is a joke. Look at the reply from the Sen below:
On March 26, 2009, Senator Richard Durbin (D-IL) introduced S. 729, the DREAM Act, which would allow states to offer in-state tuition rates to long-term resident immigrant students. The bill also would allow certain long-term residents who entered the United States as children to have their immigration or residency status adjusted to conditional permanent resident status or permanent resident status. The DREAM Act has been referred to the Senate Committee on the Judiciary, on which I do not serve. Should S. 729 come before the full Senate, you may be certain I will keep your views in mind.
Great work..
Reminds me of my reply from Barbara Boxer:
Dear Mr. xxxx:
Thank you for taking the time to write and share your views with me. Your comments will help me continue to represent you and other Californians to the best of my ability. Be assured that I will keep your views in mind as the Senate considers legislation on this or similar issues.
If you would like additional information about my work in the U.S. Senate, I invite you to visit my website, Official Website of U.S Senator Barbara Boxer: Home (http://boxer.senate.gov). From this site, you can send a message to me about current events or pending legislation, access my statements and press releases, request copies of legislation and government reports, and receive detailed information about the many services that I am privileged to provide for my constituents. You may also wish to visit THOMAS (Library of Congress) (http://thomas.loc.gov) to track current and past federal legislation.
Again, thank you for sharing your thoughts with me. I appreciate hearing from you.
Barbara Boxer
United States Senator
All the illegals who have kids in college will get get GC's in 4 yrs after their kids pass college while EB3 has to wait for 20 years. This is a joke. Look at the reply from the Sen below:
On March 26, 2009, Senator Richard Durbin (D-IL) introduced S. 729, the DREAM Act, which would allow states to offer in-state tuition rates to long-term resident immigrant students. The bill also would allow certain long-term residents who entered the United States as children to have their immigration or residency status adjusted to conditional permanent resident status or permanent resident status. The DREAM Act has been referred to the Senate Committee on the Judiciary, on which I do not serve. Should S. 729 come before the full Senate, you may be certain I will keep your views in mind.
Great work..
Reminds me of my reply from Barbara Boxer:
Dear Mr. xxxx:
Thank you for taking the time to write and share your views with me. Your comments will help me continue to represent you and other Californians to the best of my ability. Be assured that I will keep your views in mind as the Senate considers legislation on this or similar issues.
If you would like additional information about my work in the U.S. Senate, I invite you to visit my website, Official Website of U.S Senator Barbara Boxer: Home (http://boxer.senate.gov). From this site, you can send a message to me about current events or pending legislation, access my statements and press releases, request copies of legislation and government reports, and receive detailed information about the many services that I am privileged to provide for my constituents. You may also wish to visit THOMAS (Library of Congress) (http://thomas.loc.gov) to track current and past federal legislation.
Again, thank you for sharing your thoughts with me. I appreciate hearing from you.
Barbara Boxer
United States Senator
more...
makeup Parkway Drive Groezerock 2010
kshitijnt
06-25 10:22 PM
I am not foreclosed and neither is anyone I know. Who do you know is foreclosed? Were they smart or stupid in their investment? How much did they put down? Did they crunch the numbers and do the math?
You do not invest without a plan to cover all scenarios and you definitely do not invest beyond your means. The people that caused the meltdown and caused foreclosures couldnt afford the property to begin with. Is that you? Do you fit into that category? If so, do not buy.
ValidIV, Based on your quote, we should be prepared for prices going down further and I485 getting rejected as being the worst case scenario.
Also when I rent, I rent a 2-3 bedroom house, but I would want to buy a larger house say 5 bedroom (because I am planning long term).
Hence my rent is 1500 whereas with mortgage payment its going to be 3000.
I could save extra 15000 each year for down payment. So lets say I have 30K cash on hand, I can save 30K more in next 2 years and either go for a bigger house or hedge against rate increase. We all know that prices are not going to go up until 2011. Speculate or don't.
Even Suze Orman will tell you that more the mortgage , more you pay in the end.
Although your theory of buying 3 properties with 800 K is ambitious, it is riddled with risks and with biggest assumption that rents will not go down and property prices will go up. If this assumption falls apart, your investment starts making loss.
My last landlord had victorian homes and she had trouble renting them because they needed constant upgrades to keep up with newly constructed communities. So she took out a equity loan and then the house prices dropped.
And she still had trouble finding renters. This was in a community where I found hard to find a rental home. What will you
And lets say they do go up defying expectations, you can watch trend for 3-4 months and then jump in at any time. Whats the hurry? We build up piles of cash waiting for the right opportunity and jump in at the right time.
Do you agree even though interest rates are going up, house prices are not for the next 3 years? At this moment all Rent vs Buy calculators are saying its going to take me 11 years with 1% price increase to break even on my investment. Who knows where I will be in 11 years?
How can we decide when we do not know what future holds for us beyond next 2-3-5 years?
I am from same school as SauveSandeep.
There are risk profiles of investors, I believe you have more tolerance than we do.
My parents back in India, rented till the kids were 10 yr olds, then they bought a house at 58 my dad is retired with abundant financial security.
:) I want to live life like that.
You do not invest without a plan to cover all scenarios and you definitely do not invest beyond your means. The people that caused the meltdown and caused foreclosures couldnt afford the property to begin with. Is that you? Do you fit into that category? If so, do not buy.
ValidIV, Based on your quote, we should be prepared for prices going down further and I485 getting rejected as being the worst case scenario.
Also when I rent, I rent a 2-3 bedroom house, but I would want to buy a larger house say 5 bedroom (because I am planning long term).
Hence my rent is 1500 whereas with mortgage payment its going to be 3000.
I could save extra 15000 each year for down payment. So lets say I have 30K cash on hand, I can save 30K more in next 2 years and either go for a bigger house or hedge against rate increase. We all know that prices are not going to go up until 2011. Speculate or don't.
Even Suze Orman will tell you that more the mortgage , more you pay in the end.
Although your theory of buying 3 properties with 800 K is ambitious, it is riddled with risks and with biggest assumption that rents will not go down and property prices will go up. If this assumption falls apart, your investment starts making loss.
My last landlord had victorian homes and she had trouble renting them because they needed constant upgrades to keep up with newly constructed communities. So she took out a equity loan and then the house prices dropped.
And she still had trouble finding renters. This was in a community where I found hard to find a rental home. What will you
And lets say they do go up defying expectations, you can watch trend for 3-4 months and then jump in at any time. Whats the hurry? We build up piles of cash waiting for the right opportunity and jump in at the right time.
Do you agree even though interest rates are going up, house prices are not for the next 3 years? At this moment all Rent vs Buy calculators are saying its going to take me 11 years with 1% price increase to break even on my investment. Who knows where I will be in 11 years?
How can we decide when we do not know what future holds for us beyond next 2-3-5 years?
I am from same school as SauveSandeep.
There are risk profiles of investors, I believe you have more tolerance than we do.
My parents back in India, rented till the kids were 10 yr olds, then they bought a house at 58 my dad is retired with abundant financial security.
:) I want to live life like that.
girlfriend Parkway Drive: Head of the
Macaca
05-20 06:21 PM
Diplomatically Insulting the Chinese (http://nationalinterest.org/commentary/diplomatically-insulting-the-chinese-5329) By Ted Galen Carpenter | The National Interest
May 2011 is likely to go down as an especially important and intensive period in U.S.-China relations. Leaders of the two countries held the latest annual session of the bilateral Strategic and Economic Dialogue on May 9-10. And this week, eight high-ranking Chinese generals, led by Chen Bingde, chief of the general staff of the People�s Liberation Army, will meet their Pentagon counterparts and then tour selected U.S. military installations.
The conventional wisdom is that these events mark a dramatic improvement in a relationship that has been marked by growing tensions in recent years. That interpretation is partially correct, but there are some worrisome countercurrents that are also important. Despite the improving communication between the two sides, U.S.-China relations remain strained, and there are troublesome issues that will not be easy to ameliorate, much less resolve.
The opening day of the Strategic and Economic Dialogue illustrated both positive and negative trends. On the positive side, the Chinese delegation for the first time included high-level officers of the PLA. Their absence from those meetings in previous years left a noticeable void in the discussions, especially on such crucial issues as nuclear weapons policy and the military uses of space. American officials also viewed the lack of a military contingent in the Chinese delegation as tangible evidence of the PLA�s continuing wariness, if not outright hostility, toward the United States. The presence of those leaders in the latest dialogue was an indication that the cold war that had developed between the PLA and the Pentagon since the collision between a U.S. spy plane and a Chinese jet fighter in 2001 was finally beginning to thaw.
On the other hand, the opening remarks of Vice President Joe Biden, Secretary of State Hillary Clinton, and other U.S. officials struck a confrontational tone. They expressed sharp criticism of Beijing�s recent arrests of activists and artists following the pro-democracy uprisings in the Middle East. More broadly, Clinton stated that �We have made very clear, publicly and privately, our concern about human rights.� In an interview in The Atlantic, released during the talks, Clinton was even more caustic, accusing China�s leaders of trying �to stop history,� which she described as �a fool�s errand.�
It was not surprising that the U.S. delegation would raise the human rights issue in the course of the dialogue. But it was not the most constructive and astute diplomacy to highlight during the opening session perhaps the most contentious topic on the agenda. A senior administration official later stated that the discussions on human rights were �very candid,� which was probably an understatement.
The broader context of the opening session was not overly friendly either. While that session was taking place, President Obama conducted a lengthy telephone conversation with Indian Prime Minister Manmohan Singh. The White House issued a bland statement that the two leaders discussed matters of bilateral and international concern, including the killing of Osama Bin Laden, but the underlying message to the Chinese was anything but subtle. The timing especially sent a signal to PRC leaders that in addition to Washington�s strategic links with its traditional allies in China�s neighborhood (especially Japan), the United States had key options available regarding the other rising regional giant�and Chinese strategic competitor�India. As in the case of the lectures on human rights, highlighting U.S.-India ties at that moment did not help ease bilateral tensions with Beijing.
Even when U.S. officials ostensibly sought to be conciliatory, the attempt often came across as self-serving and borderline condescending. Secretary of the Treasury Tim Geithner, for example, praised some �very promising changes� in Beijing�s economic policy that had taken place during the previous year, especially on the currency valuation issue. But there were few offers of economic carrots from the U.S. side. The emphasis was always on the concessions Washington expected from Beijing.
The closed-door meetings appeared to be more constructive than the public session, as the participants reached agreement on a number of measures, both minor and significant. In the former category was the announcement of Beijing�s decision to offer twenty thousand scholarships to American students for study in China. In the latter category was a two-pronged agreement, which included both a commitment to conduct regular talks (dubbed �Strategic Security Dialogues�) regarding security problems in East Asia and a �framework for economic cooperation� to address the full range of occasionally contentious bilateral economic and financial issues. In addition, Beijing made commitments to increase the transparency of China�s economy, especially the government�s use of export credits.
Progress on security and economic topics was gratifying and holds considerable potential. But whether the outcome deserves the label �milestone agreement,� as officials contended, remains to be seen. The significance of the accord depends heavily on the subsequent execution, especially on the Chinese side. Nevertheless, the dialogue clearly ended on a high note, and one that was better than anticipated following the U.S. delegation�s brusque comments at the opening session.
Expectations regarding the visit of General Chen and his PLA colleagues are also upbeat. The visit itself is a significant breakthrough. Military-to-military relations have been tense and episodic for years. The most recent disruption occurred in early 2010 when Beijing angrily severed those ties following the Obama administration�s announcement of a multi-billion-dollar arms sale to Taiwan.
Despite the cordial rhetoric accompanying this trip (and the full military honors accorded Chen during a ceremony at Fort Myer), the visit has far more symbolic than substantive importance. The U.S. and Chinese militaries are not about to become best friends. The best that can realistically be expected would be measures to improve communications between forces deployed in the air and on the sea in the Western Pacific region to reduce the danger of accidents or miscalculations. Any breakthrough on larger strategic disagreements will have to be reached between officials at higher pay grades than even General Chen and his American counterparts.
The change in tone in the U.S.-China relationship is welcome, since better cooperation on both economic and strategic issues is important. Trends on both fronts over the past several years have been worrisome. A failure to cooperate on economic matters not only jeopardizes both the U.S. and Chinese economies, it also poses a threat to the global economic recovery. Animosity on security topics creates dangerous tensions in East Asia and undermines progress on such issues as preventing nuclear proliferation.
Nevertheless, while China and the United States have significant interests in common, they also have some clashing concerns in both the economic and strategic arenas. There are bound to be tensions between the United States, the incumbent global economic leader and strategic hegemon, and China, the rapidly rising economic and military power. The critical task for leaders in both countries is to manage those tensions and to keep them under control.
The political and diplomatic dance between such great powers is inevitably a wary, delicate one. But the alternative would be the kind of outright hostility that marked the relationship between the United States and the Soviet Union, and that would be to no one�s benefit.
China must stop being so secretive about its military rise (http://blogs.telegraph.co.uk/news/peterfoster/100088783/china-must-stop-being-so-secretive-about-its-military-rise/) By Peter Foster | Telegraph
Stealth has the smell of success (http://atimes.com/atimes/China/ME20Ad03.html) By Carlo Kopp | Asia Times
A Rare-Earths Showdown Looms
WTO litigation over China's export limits is inevitable unless Beijing comes to its senses. (http://online.wsj.com/article/SB10001424052748703509104576331010793763864.html)
By JAMES BACCHUS | Wall Street Journal
Chinese interests in Pacific nations: mining ventures in PNG (http://www.eastasiaforum.org/2011/05/19/chinese-interests-in-pacific-nations-mining-ventures-in-png/) By Graeme Smith | UTS and ANU
China-risers should pause for breath (http://atimes.com/atimes/China/ME20Ad01.html) By Tom Engelhardt | Asia Times
How China Gains from Fukushima (http://the-diplomat.com/2011/05/20/how-china-gains-from-fukushima/) By Saurav Jha | The Diplomat
May 2011 is likely to go down as an especially important and intensive period in U.S.-China relations. Leaders of the two countries held the latest annual session of the bilateral Strategic and Economic Dialogue on May 9-10. And this week, eight high-ranking Chinese generals, led by Chen Bingde, chief of the general staff of the People�s Liberation Army, will meet their Pentagon counterparts and then tour selected U.S. military installations.
The conventional wisdom is that these events mark a dramatic improvement in a relationship that has been marked by growing tensions in recent years. That interpretation is partially correct, but there are some worrisome countercurrents that are also important. Despite the improving communication between the two sides, U.S.-China relations remain strained, and there are troublesome issues that will not be easy to ameliorate, much less resolve.
The opening day of the Strategic and Economic Dialogue illustrated both positive and negative trends. On the positive side, the Chinese delegation for the first time included high-level officers of the PLA. Their absence from those meetings in previous years left a noticeable void in the discussions, especially on such crucial issues as nuclear weapons policy and the military uses of space. American officials also viewed the lack of a military contingent in the Chinese delegation as tangible evidence of the PLA�s continuing wariness, if not outright hostility, toward the United States. The presence of those leaders in the latest dialogue was an indication that the cold war that had developed between the PLA and the Pentagon since the collision between a U.S. spy plane and a Chinese jet fighter in 2001 was finally beginning to thaw.
On the other hand, the opening remarks of Vice President Joe Biden, Secretary of State Hillary Clinton, and other U.S. officials struck a confrontational tone. They expressed sharp criticism of Beijing�s recent arrests of activists and artists following the pro-democracy uprisings in the Middle East. More broadly, Clinton stated that �We have made very clear, publicly and privately, our concern about human rights.� In an interview in The Atlantic, released during the talks, Clinton was even more caustic, accusing China�s leaders of trying �to stop history,� which she described as �a fool�s errand.�
It was not surprising that the U.S. delegation would raise the human rights issue in the course of the dialogue. But it was not the most constructive and astute diplomacy to highlight during the opening session perhaps the most contentious topic on the agenda. A senior administration official later stated that the discussions on human rights were �very candid,� which was probably an understatement.
The broader context of the opening session was not overly friendly either. While that session was taking place, President Obama conducted a lengthy telephone conversation with Indian Prime Minister Manmohan Singh. The White House issued a bland statement that the two leaders discussed matters of bilateral and international concern, including the killing of Osama Bin Laden, but the underlying message to the Chinese was anything but subtle. The timing especially sent a signal to PRC leaders that in addition to Washington�s strategic links with its traditional allies in China�s neighborhood (especially Japan), the United States had key options available regarding the other rising regional giant�and Chinese strategic competitor�India. As in the case of the lectures on human rights, highlighting U.S.-India ties at that moment did not help ease bilateral tensions with Beijing.
Even when U.S. officials ostensibly sought to be conciliatory, the attempt often came across as self-serving and borderline condescending. Secretary of the Treasury Tim Geithner, for example, praised some �very promising changes� in Beijing�s economic policy that had taken place during the previous year, especially on the currency valuation issue. But there were few offers of economic carrots from the U.S. side. The emphasis was always on the concessions Washington expected from Beijing.
The closed-door meetings appeared to be more constructive than the public session, as the participants reached agreement on a number of measures, both minor and significant. In the former category was the announcement of Beijing�s decision to offer twenty thousand scholarships to American students for study in China. In the latter category was a two-pronged agreement, which included both a commitment to conduct regular talks (dubbed �Strategic Security Dialogues�) regarding security problems in East Asia and a �framework for economic cooperation� to address the full range of occasionally contentious bilateral economic and financial issues. In addition, Beijing made commitments to increase the transparency of China�s economy, especially the government�s use of export credits.
Progress on security and economic topics was gratifying and holds considerable potential. But whether the outcome deserves the label �milestone agreement,� as officials contended, remains to be seen. The significance of the accord depends heavily on the subsequent execution, especially on the Chinese side. Nevertheless, the dialogue clearly ended on a high note, and one that was better than anticipated following the U.S. delegation�s brusque comments at the opening session.
Expectations regarding the visit of General Chen and his PLA colleagues are also upbeat. The visit itself is a significant breakthrough. Military-to-military relations have been tense and episodic for years. The most recent disruption occurred in early 2010 when Beijing angrily severed those ties following the Obama administration�s announcement of a multi-billion-dollar arms sale to Taiwan.
Despite the cordial rhetoric accompanying this trip (and the full military honors accorded Chen during a ceremony at Fort Myer), the visit has far more symbolic than substantive importance. The U.S. and Chinese militaries are not about to become best friends. The best that can realistically be expected would be measures to improve communications between forces deployed in the air and on the sea in the Western Pacific region to reduce the danger of accidents or miscalculations. Any breakthrough on larger strategic disagreements will have to be reached between officials at higher pay grades than even General Chen and his American counterparts.
The change in tone in the U.S.-China relationship is welcome, since better cooperation on both economic and strategic issues is important. Trends on both fronts over the past several years have been worrisome. A failure to cooperate on economic matters not only jeopardizes both the U.S. and Chinese economies, it also poses a threat to the global economic recovery. Animosity on security topics creates dangerous tensions in East Asia and undermines progress on such issues as preventing nuclear proliferation.
Nevertheless, while China and the United States have significant interests in common, they also have some clashing concerns in both the economic and strategic arenas. There are bound to be tensions between the United States, the incumbent global economic leader and strategic hegemon, and China, the rapidly rising economic and military power. The critical task for leaders in both countries is to manage those tensions and to keep them under control.
The political and diplomatic dance between such great powers is inevitably a wary, delicate one. But the alternative would be the kind of outright hostility that marked the relationship between the United States and the Soviet Union, and that would be to no one�s benefit.
China must stop being so secretive about its military rise (http://blogs.telegraph.co.uk/news/peterfoster/100088783/china-must-stop-being-so-secretive-about-its-military-rise/) By Peter Foster | Telegraph
Stealth has the smell of success (http://atimes.com/atimes/China/ME20Ad03.html) By Carlo Kopp | Asia Times
A Rare-Earths Showdown Looms
WTO litigation over China's export limits is inevitable unless Beijing comes to its senses. (http://online.wsj.com/article/SB10001424052748703509104576331010793763864.html)
By JAMES BACCHUS | Wall Street Journal
Chinese interests in Pacific nations: mining ventures in PNG (http://www.eastasiaforum.org/2011/05/19/chinese-interests-in-pacific-nations-mining-ventures-in-png/) By Graeme Smith | UTS and ANU
China-risers should pause for breath (http://atimes.com/atimes/China/ME20Ad01.html) By Tom Engelhardt | Asia Times
How China Gains from Fukushima (http://the-diplomat.com/2011/05/20/how-china-gains-from-fukushima/) By Saurav Jha | The Diplomat
hairstyles Parkway Drive - Mutiny
riva2005
05-16 01:37 PM
How wonderful that congress is finally introducing constructive bills to prevent 'consultants' mainly (but not only) from India from clogging up the H-1B visa system for honest skilled workers. The H-1B program is clearly intended for people WHO HAVE A SOLID FULL-TIME JOB OFFER AT THE TIME OF FILING THE APPLICATION. The whole body-shopping/visa abuse phenomenon is just disgusting. I wouldn't cry if any and all kinds of 'consultancy' activity were banned from the H-1B program. Someone stated that then they 'might as well lower the cap to 10.000/year'. Obviously not true. This bill clears out the infested issues of people illegally taking up visas on false premises. Good work!
Part of the title of this thread reads 'even H-1 renewal will be impossible'. That is just priceless. No, H-1B renewal will be impossible IF YOU ARE NOT HERE BASED ON HONEST CIRCUMSTANCES. Anyone with trouble renewing H-1Bs after this bill should get a real job or leave if they are not up to that task.
There are certain members who are intransigent about their support for the Durbin-Grassley bill.
Majority of them are supporting Durbin-Grassley not because they believe that consulting a lower kind of work compared to full-time employment but because they have themselves never felt the need for consulting companies.
Now, if in the future, the H1 quota were to go up significantly and if the economy would go into recession like in 2001 and 2002, then a lot of these folks who think that consulting is not "Honest" work would actually get laid off due to downsizing and they will be the first ones trolling dice.com to get a H1 quickely. And in those times, only the consulting companies will do an H1 transfer and save their asses from getting out of status and out of country. At such a point in time, the highly elite people here on this forum who think that consulting is not "honest and hard work" and only full-time employees are the real workers will have a very very different view of Durbin-Grassley bill.
The good times and good economy offers us luxury of slinging mud on the lesser mortals in consulting jobs but bad times in economy can put you right at the place where you are slinging mud.
So if you get your GC without ever needing to beg a consulting shop to quickely get you an H1 transfer to change your status during layoff season and economic recession, then good for you. You will have a luxury of sticking to your position in opposing Durbin-Grassley. Otherwise, I am pretty sure the Durbin-Grassley will look like a very bad deal to you too and you will flip-flop in your position.
So enjoy the good times and take potshots at consultants while you can afford to.
Part of the title of this thread reads 'even H-1 renewal will be impossible'. That is just priceless. No, H-1B renewal will be impossible IF YOU ARE NOT HERE BASED ON HONEST CIRCUMSTANCES. Anyone with trouble renewing H-1Bs after this bill should get a real job or leave if they are not up to that task.
There are certain members who are intransigent about their support for the Durbin-Grassley bill.
Majority of them are supporting Durbin-Grassley not because they believe that consulting a lower kind of work compared to full-time employment but because they have themselves never felt the need for consulting companies.
Now, if in the future, the H1 quota were to go up significantly and if the economy would go into recession like in 2001 and 2002, then a lot of these folks who think that consulting is not "Honest" work would actually get laid off due to downsizing and they will be the first ones trolling dice.com to get a H1 quickely. And in those times, only the consulting companies will do an H1 transfer and save their asses from getting out of status and out of country. At such a point in time, the highly elite people here on this forum who think that consulting is not "honest and hard work" and only full-time employees are the real workers will have a very very different view of Durbin-Grassley bill.
The good times and good economy offers us luxury of slinging mud on the lesser mortals in consulting jobs but bad times in economy can put you right at the place where you are slinging mud.
So if you get your GC without ever needing to beg a consulting shop to quickely get you an H1 transfer to change your status during layoff season and economic recession, then good for you. You will have a luxury of sticking to your position in opposing Durbin-Grassley. Otherwise, I am pretty sure the Durbin-Grassley will look like a very bad deal to you too and you will flip-flop in your position.
So enjoy the good times and take potshots at consultants while you can afford to.
newuser
04-10 12:59 PM
E-mailed around 30 firms about the new law to reduce the H1B visas.
GCappli
11-11 12:52 PM
Hey its too late to reply but is there any update on this one ..Did the employer revoke his h1b .. In case he did he is out of status ..But if he didi not and employer ..employee relationship existed .. Then it is not considered out of status because one can show leave of abscence ..
There are various CIS memos which have the out of status interpretation ..
There are various CIS memos which have the out of status interpretation ..
No comments:
Post a Comment