Hmm. I thought offshoring was supposed to create jobs.
India’s Tata raises $1.2 billion in IPO. One hot stock, in India. Investors see this company as pretty much dominating world IT, especially American IT as jobs, expertise, training, technology, taxes, and the back office of major American companies shifts to India for the tax and payroll benefits thanks to the encouragement of the US Government. Hillary Clinton is a big supporter of this company, by the way. I hope you New Yorkers soon to be replaced understand this.
The good news? Indians can’t vote in American elections (yet).
Tata has 70 companies that are in all kinds of different stuff. They even make cars. With all the job going overseas and our corporations selling out the countryand people, we might as well shutdown all the auto plants and just import cheap Tatas. Who knows, maybe they’re better than the Hondas and Toyotas all the professional class people seem to like. I got an old Dodge and a Buick myself. Seven out of 10 medium and heavy commercial vehicles in India bear the trusted Tata mark. I wonder if they drive Honda or Fords in India. Maybe Hillary Clinton has an angle on a upstate Tata dealership. Maybe they’ll do like the Japanese and just start building Tatas here and our auto workers will be working for the Indians, with all the profits being offshored and sent back to India. Tata can buy all the empty American auto plants for next to nothing and the government can loan them money because it creates new jobs. We had a VW plant in my area and now it’s a Sony plant. The American companies had a chance to buy the place after VW packed it in, but weren’t interested. They were all mixed up in deals someplace else. As KIA says, more value more obsession. It’s not a car, it’s an obsession. It’s a piece of crap in my opinion!
If you can’t trust Hillary, who can you trust?
The company that raised $1.2b is not Tata’s but “Tata Consultancy Services” – TCS. TCS is a small portion of the Tata group — TCS holds 80 companies in sectors such as Power, Steel, Auto, Hotels, Airline and TCS is one of the 6 IT companies it holds (.
TCS has opened up an office in NY that created hundreds of jobs in US (after taking few hundred thousand away to India). TCS has done IT oursourcing since 1972 and GE gives to TCS business worth $250 million every year. GE saved few billion dollars in their IT and may be for this reason remained a darling at the Wall Street and now other Fortune 1000 companies want to do what GE discovered a decade ago.
I have worked for TCS 15 years ago — and at that time it was stealing from US as many jobs as it is today 😉 But US IT industry was creating jobs at a much fatser rate so no one complained.
I’m sure Tata or TCS is doing a fine job. Avi noted that GE saved a few billion. Hell, GE would pay people $45 a month in the USA, if there were not laws against it. GE can move their whole operation over into India as far as I am concerned. Look at what GE has done for US airlines, that for the most part are heading into some blackhole.
GE is buying a Russian bank. I heard they’re big idea is getting more credit cards into the hands of Russians, which should put more cash in the hands of GE executives here. Maybe GE can have the Russians calling the Indians for account answers or support and all the Indians will stop trying to speak with American style and start speaking Russian. The way GE operates, we may all be speaking Russian in 10 years. Good luck Russia, you’ll need it! Good luck Tata, there are big deals in Russia, just follow GE. It gets mighty cold up that way, you should know.
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