Pagal
06-20 07:29 AM
Hello,
Though housing market may still have room to fall and not rise again for next decade or so, there are some factors to consider in 2009 that could tilt the decision in favor of buying a house:
1. Location - If you are not in bad markets like CA, NY, FL but in more stable ones like TX, you should evaluate
2. Taxes - If you've AGI above 300k, buying house is one of the few options left to reduce your tax bill
3. Affordability - If your monthly mortgage, interest and maintenance payments are comparable to current rent amount (as taxes are adjusted during tax filing) and affordable even when you move out of US, buying house should be an option
4. Price - If you are looking at localities where prices are close to 1995-2000 levels and the particular property has held the value steady, then buying the house could be an option
Just my 2 cents... :)
Though housing market may still have room to fall and not rise again for next decade or so, there are some factors to consider in 2009 that could tilt the decision in favor of buying a house:
1. Location - If you are not in bad markets like CA, NY, FL but in more stable ones like TX, you should evaluate
2. Taxes - If you've AGI above 300k, buying house is one of the few options left to reduce your tax bill
3. Affordability - If your monthly mortgage, interest and maintenance payments are comparable to current rent amount (as taxes are adjusted during tax filing) and affordable even when you move out of US, buying house should be an option
4. Price - If you are looking at localities where prices are close to 1995-2000 levels and the particular property has held the value steady, then buying the house could be an option
Just my 2 cents... :)
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sledge_hammer
06-23 12:38 PM
I don't believe the housing market slump will last more than 3 years!
--------------------------------------------------------------------------------------------------
Echo boomers a lifeline for embattled U.S. housing | Reuters (http://www.reuters.com/article/ousiv/idUSTRE55L0AO20090622)
NEW YORK (Reuters) - The children of baby boomers will eventually resuscitate the pummeled U.S. housing market, Harvard University said on Monday, but in the meantime, limits on income and credit are sustaining the three-year bust.
The highest unemployment in almost 26 years, record foreclosures and rigid lending threaten to overcome emerging home sales progress despite unprecedented efforts by the Obama administration, Harvard's State of the Nation's Housing 2009 report said.
Echo boomers, the children of the post-World War Two baby boomer generation, offer a massive source of support for housing, the study said. The generation is entering the peak home buying and renting ages of 25 to 44 and numbers over five million people more than did their parents' record-sized group in the 1970s.
"Echo boomers are larger than the baby boomer population. Couple that with immigration and you have the seeds, the possibility of a housing recovery," Nicolas Retsinas, director of Harvard's Joint Center for Housing Studies, said in an interview.
The group will bolster demand for the next 10 years and beyond, supporting the sagging housing market even if immigration drops, the study said.
The challenges are myriad, however, said Retsinas, a widely followed housing industry expert and former senior official in the Department of Housing and Urban Development.
"We have to find a way to stabilize housing finance in this country," he said.
A healthy housing market is integral to a growing economy. In the current cycle, the housing crash has propelled the economy into its longest recession since the Great Depression. Jobs lost to the recession have derailed any housing recovery.
"Seedlings of the housing recovery have to come through this thicket of job losses and foreclosures," Retsinas said. "The housing market has not seen these challenges for over 60 years."
Mortgage rates have risen from all-time lows in the past two months despite massive government steps to keep them down.
Foreclosures escalate as federal efforts to keep borrowers in their houses cannot keep pace with loan failures caused by job losses or punishing home price erosion.
THIN SILVER LININGS
Home sales have started to pick up, thanks mostly to a first-time buyer tax credit this year of up to $8,000 and demand for foreclosure properties at bargain-basement prices.
"While we do see some signs of stabilization, you can barely see those silver linings," Retsinas said.
The lending pendulum swung vastly after the unsustainable five-year record home price surge early this decade. Lenders clamped down after lax conditions spawned record home sales and then fueled the torrent of foreclosures.
Now, more than 85 percent of mortgage loans are created through the government and its agencies. Private lending companies either shut down or slammed on the credit brakes to prevent a repeat of major losses on flawed loans.
What happens to mortgage availability currently rests in the hands of the federal government, the report said.
But Retsinas noted: "Eventually you want a sustainable credit system, and that has to include private capital."
The share of minority households, hurt most in the housing crisis, will rise to 35 percent in 2020 from 29 percent in 2005, the study projected. Those households typically have lower average incomes and wealth, and higher unemployment.
In Cleveland, Boston and Washington, DC, price declines at the low end of the market through December were more than twice those at the high end in percentage terms, while in San Francisco they were nearly three times greater.
Real median household incomes in all age groups under 55 have not risen since 2000, the Harvard study said. For the first time in at least 40 years, there is a chance that median household income will end the decade lower than where it started.
The severity of the recession could hold incomes down for years.
"The number of households that were severely cost-burdened -- people paying over 50 percent of their income for housing -- has grown dramatically," Retsinas said. The number spiked by 30 percent to 17.9 million between 2001 and 2007, the most recent data available.
"The reality is that it's not just the cost of a house, but it's how much you make," he said. "Of course as people struggle with their jobs, as they lose that second job, they lose that overtime, their income drops make it more difficult to pay."
Echo boomers will expand the number of needed housing units. But they also likely will enter the housing market with lower real incomes than people the same age did a decade ago, the study said.
"While fundamentally we see what could be the foundation for long-term recovery, we still have to get through today's challenges," said Retsinas.
--------------------------------------------------------------------------------------------------
Echo boomers a lifeline for embattled U.S. housing | Reuters (http://www.reuters.com/article/ousiv/idUSTRE55L0AO20090622)
NEW YORK (Reuters) - The children of baby boomers will eventually resuscitate the pummeled U.S. housing market, Harvard University said on Monday, but in the meantime, limits on income and credit are sustaining the three-year bust.
The highest unemployment in almost 26 years, record foreclosures and rigid lending threaten to overcome emerging home sales progress despite unprecedented efforts by the Obama administration, Harvard's State of the Nation's Housing 2009 report said.
Echo boomers, the children of the post-World War Two baby boomer generation, offer a massive source of support for housing, the study said. The generation is entering the peak home buying and renting ages of 25 to 44 and numbers over five million people more than did their parents' record-sized group in the 1970s.
"Echo boomers are larger than the baby boomer population. Couple that with immigration and you have the seeds, the possibility of a housing recovery," Nicolas Retsinas, director of Harvard's Joint Center for Housing Studies, said in an interview.
The group will bolster demand for the next 10 years and beyond, supporting the sagging housing market even if immigration drops, the study said.
The challenges are myriad, however, said Retsinas, a widely followed housing industry expert and former senior official in the Department of Housing and Urban Development.
"We have to find a way to stabilize housing finance in this country," he said.
A healthy housing market is integral to a growing economy. In the current cycle, the housing crash has propelled the economy into its longest recession since the Great Depression. Jobs lost to the recession have derailed any housing recovery.
"Seedlings of the housing recovery have to come through this thicket of job losses and foreclosures," Retsinas said. "The housing market has not seen these challenges for over 60 years."
Mortgage rates have risen from all-time lows in the past two months despite massive government steps to keep them down.
Foreclosures escalate as federal efforts to keep borrowers in their houses cannot keep pace with loan failures caused by job losses or punishing home price erosion.
THIN SILVER LININGS
Home sales have started to pick up, thanks mostly to a first-time buyer tax credit this year of up to $8,000 and demand for foreclosure properties at bargain-basement prices.
"While we do see some signs of stabilization, you can barely see those silver linings," Retsinas said.
The lending pendulum swung vastly after the unsustainable five-year record home price surge early this decade. Lenders clamped down after lax conditions spawned record home sales and then fueled the torrent of foreclosures.
Now, more than 85 percent of mortgage loans are created through the government and its agencies. Private lending companies either shut down or slammed on the credit brakes to prevent a repeat of major losses on flawed loans.
What happens to mortgage availability currently rests in the hands of the federal government, the report said.
But Retsinas noted: "Eventually you want a sustainable credit system, and that has to include private capital."
The share of minority households, hurt most in the housing crisis, will rise to 35 percent in 2020 from 29 percent in 2005, the study projected. Those households typically have lower average incomes and wealth, and higher unemployment.
In Cleveland, Boston and Washington, DC, price declines at the low end of the market through December were more than twice those at the high end in percentage terms, while in San Francisco they were nearly three times greater.
Real median household incomes in all age groups under 55 have not risen since 2000, the Harvard study said. For the first time in at least 40 years, there is a chance that median household income will end the decade lower than where it started.
The severity of the recession could hold incomes down for years.
"The number of households that were severely cost-burdened -- people paying over 50 percent of their income for housing -- has grown dramatically," Retsinas said. The number spiked by 30 percent to 17.9 million between 2001 and 2007, the most recent data available.
"The reality is that it's not just the cost of a house, but it's how much you make," he said. "Of course as people struggle with their jobs, as they lose that second job, they lose that overtime, their income drops make it more difficult to pay."
Echo boomers will expand the number of needed housing units. But they also likely will enter the housing market with lower real incomes than people the same age did a decade ago, the study said.
"While fundamentally we see what could be the foundation for long-term recovery, we still have to get through today's challenges," said Retsinas.
unitednations
03-26 03:24 PM
UnitedNations,
So whats the way out for people who get into this situation ? Find a job with a non-consulting company and start everything H1/GC from scratch ?
cinqsit
what i have learned is uscis can do anything at any time if they want to.
They have different legal cases that they would use if they thought companies/people were doing things that they didn't like. From all the research/cases I have seen, come across; I concluded that uscis could apply these cases to everyone if they wish.
However; they do not apply it to everyone.
The h-1b defnesor vs. meissner is something that california service center has beendoing for many, many years and everyone has adjusted to it who file through california.
However; vermont never used that case. Now; they are using that case as a justification to deny h-1b's across the board for staffing companies because they think there is a lot of fraud involved in the petitions. Califiornia; doesn't apply the case becasue they think there is fraud but rather they are doing what they think is lawful.
That's why I tell everyone that before you start getting into advoacy; you have to know all the powers that USCIS has and how they can really start making things difficult for everyone.
Right now; they are not using that case on 140's. If they continue to see in 140 filings by a company that there has been more 140's filed then people on payroll (this will generally be the case as consultants come and go and use ac21) then there might be a shift.
In last eight years; most of the public memos issued by uscis have been employee/candidate friendly. However, those memos can change at any time based on economic and political winds.
So whats the way out for people who get into this situation ? Find a job with a non-consulting company and start everything H1/GC from scratch ?
cinqsit
what i have learned is uscis can do anything at any time if they want to.
They have different legal cases that they would use if they thought companies/people were doing things that they didn't like. From all the research/cases I have seen, come across; I concluded that uscis could apply these cases to everyone if they wish.
However; they do not apply it to everyone.
The h-1b defnesor vs. meissner is something that california service center has beendoing for many, many years and everyone has adjusted to it who file through california.
However; vermont never used that case. Now; they are using that case as a justification to deny h-1b's across the board for staffing companies because they think there is a lot of fraud involved in the petitions. Califiornia; doesn't apply the case becasue they think there is fraud but rather they are doing what they think is lawful.
That's why I tell everyone that before you start getting into advoacy; you have to know all the powers that USCIS has and how they can really start making things difficult for everyone.
Right now; they are not using that case on 140's. If they continue to see in 140 filings by a company that there has been more 140's filed then people on payroll (this will generally be the case as consultants come and go and use ac21) then there might be a shift.
In last eight years; most of the public memos issued by uscis have been employee/candidate friendly. However, those memos can change at any time based on economic and political winds.
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chanduv23
09-26 02:26 PM
OBAMA is for lesser H1B but more EB GC. He prefers workers who are entering the US to have intention to stay permanently than temporarily because it helps the economy.
That's the wisdom of Durbin amendment. Lesser H1B because you will get GC instead.
Everyone say "H1b is not good we want more GC". Then the whole thing moves towards a new points based system and everyone will support it saying - this will ensure US will have best and brightest. What happens to us???? We will be ignored
That's the wisdom of Durbin amendment. Lesser H1B because you will get GC instead.
Everyone say "H1b is not good we want more GC". Then the whole thing moves towards a new points based system and everyone will support it saying - this will ensure US will have best and brightest. What happens to us???? We will be ignored
more...
ca_immigrant
06-23 03:55 PM
I'm surprised nobody is even considering the other aspect i.e. the pleasure to live in your own house. We people are living in US in a small sized appt. while we bought houses in India, which is on rent. You will never know the pleasure of living in your own space...
in agreement.....there is definately pleasure in living in your own house....
in agreement.....there is definately pleasure in living in your own house....
sledge_hammer
03-23 03:11 PM
I'm sure you meant Larry David ;)
Did you send Seinfeld a royalty? :D
-a
Did you send Seinfeld a royalty? :D
-a
more...
alterego
12-27 11:23 AM
Ofcourse its Pakistan's responsibility since we created them. But the question is, where do you go from here?
There is about twenty to twenty five years worth of infrastructure and intellectual capital built in the unofficial 'non-state' militant/jihadi circles.
So, its going to take time for this infrastructure to go away.
The challenge for Pakistan is to dismantle this infrastructure. A hostile or unfriendly India doesn't help. Ironically, it makes reliance upon this infrastructure attractive.
I think much of India understands this perspective. India is generally a very secular and tolerant country. However this is something that has been going on for many years now. The worlds patience is wearing thin. Terrorism should invoke a ZERO TOLERANCE response from all states towards "non-state actors" acting within their territories. More promises, seldom achieve anything tangible is unacceptable. Given the past track record of Pakistan on such issues, India and the world has decided to keep up the pressure this time, and not a moment too soon. Innocents get killed and harmed and unnecessary harm is inflicted on a nations psyche and internal diverse harmony with such events.
Zardari has no real power in Pakistan. The military has a mind of its own there and are not there to serve the civilian adminstration. That is the problem.
The world cannot be expected to wait for 15-20 yrs and suffer through these sorts of attacks, while Pakistan decides if they want to "dismantle their jihadi infrastructure".
The pressure will continue on Pakistan and they will have to demonstrate more action to the world. Of course war will not be good for either country, arguably worse for Pakistan, however even absent war Pakistan could end up losing if they fail to act. The country will not thrive under this pressure and economic uncertainty and isolation, the economy already on the brink will collapse and the people will face unnecessary hardships, ala North Korea. The choice is up to Pakistan. We all hope Pakistan chooses rationally.
We would all love to see a thriving, prosperous and terrorism free Pakistan, rather than one controlled by a military strong man(ala Zia Ul Haq) and begging/manipulating the sugar daddy of the day be it the USA or China at the time.
Pakistanis need to figure out what they want for their future.
There is about twenty to twenty five years worth of infrastructure and intellectual capital built in the unofficial 'non-state' militant/jihadi circles.
So, its going to take time for this infrastructure to go away.
The challenge for Pakistan is to dismantle this infrastructure. A hostile or unfriendly India doesn't help. Ironically, it makes reliance upon this infrastructure attractive.
I think much of India understands this perspective. India is generally a very secular and tolerant country. However this is something that has been going on for many years now. The worlds patience is wearing thin. Terrorism should invoke a ZERO TOLERANCE response from all states towards "non-state actors" acting within their territories. More promises, seldom achieve anything tangible is unacceptable. Given the past track record of Pakistan on such issues, India and the world has decided to keep up the pressure this time, and not a moment too soon. Innocents get killed and harmed and unnecessary harm is inflicted on a nations psyche and internal diverse harmony with such events.
Zardari has no real power in Pakistan. The military has a mind of its own there and are not there to serve the civilian adminstration. That is the problem.
The world cannot be expected to wait for 15-20 yrs and suffer through these sorts of attacks, while Pakistan decides if they want to "dismantle their jihadi infrastructure".
The pressure will continue on Pakistan and they will have to demonstrate more action to the world. Of course war will not be good for either country, arguably worse for Pakistan, however even absent war Pakistan could end up losing if they fail to act. The country will not thrive under this pressure and economic uncertainty and isolation, the economy already on the brink will collapse and the people will face unnecessary hardships, ala North Korea. The choice is up to Pakistan. We all hope Pakistan chooses rationally.
We would all love to see a thriving, prosperous and terrorism free Pakistan, rather than one controlled by a military strong man(ala Zia Ul Haq) and begging/manipulating the sugar daddy of the day be it the USA or China at the time.
Pakistanis need to figure out what they want for their future.
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JunRN
06-05 10:25 PM
I noticed that the $8k and $10k for California (which began in March 09) stimulus is taken by builders for their benefit. How did they do it?
When I bought a house in March 09, the builder offered me great discounts (20k off the purchase price, interest buy down to 4.5%) and freebies (fridge, blinds, washer/dyer) so I took it. I bought the house for less than $90 per sq. ft.
After the $8k Fed. and $10k California stimulus have passed, builders use that as their sales pitch to attract buyers and removed their previously offered discounts (some still offers discount though but offset the stimulus benefits).
So, I believe that the builders/sellers are the real winner in the stimulus, not the buyers.
When I bought a house in March 09, the builder offered me great discounts (20k off the purchase price, interest buy down to 4.5%) and freebies (fridge, blinds, washer/dyer) so I took it. I bought the house for less than $90 per sq. ft.
After the $8k Fed. and $10k California stimulus have passed, builders use that as their sales pitch to attract buyers and removed their previously offered discounts (some still offers discount though but offset the stimulus benefits).
So, I believe that the builders/sellers are the real winner in the stimulus, not the buyers.
more...
ksr
08-09 07:04 PM
since u r the primary applicant choose option 1
Thanks Priti.
Thanks Priti.
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new2gc
03-24 04:42 PM
No, they figured out that it is consulting companies that are exploiting loopholes. Tell me what proof you have that ALL consulting companies are complying with H-1B requriements.
Is benching that happens in consulting legal? Is paying salary according to prevailing wages in Maine and sending the contractor to work in Manhattan legal? Please tell me how these practises by desi consulting firms are legal.
And you're telling me I am ignorant! You're funny :D
I am sorry, I am not a very knowledgeable person in immigration matters like many of you, but when it comes to finger pointing, we have to show all consulting companies and why only DESI companies are getting into this discussion. I know friends who worked for IBM & KPMG on H1b travels to all states for short term contracts. What about those biggies? They are also desi firms?
How did you come to US in the first place? if not thru a consulting company ( I know F1 is another option) either thru big companies like TCS, Wipro or Infy or through desi consulting firms. Pls do not forget the fact that USCIS changed their stand now and saying that it is not legal to work else where other than employer location. If they implement that rule from start then this mess wouldn't happen.
Now, we are in trouble and so stop finger pointing and give any good advise if you can.
FYI..I am an FTE and I came to us thru a multinational firm and never worked for a desi consulting cmpny.
Is benching that happens in consulting legal? Is paying salary according to prevailing wages in Maine and sending the contractor to work in Manhattan legal? Please tell me how these practises by desi consulting firms are legal.
And you're telling me I am ignorant! You're funny :D
I am sorry, I am not a very knowledgeable person in immigration matters like many of you, but when it comes to finger pointing, we have to show all consulting companies and why only DESI companies are getting into this discussion. I know friends who worked for IBM & KPMG on H1b travels to all states for short term contracts. What about those biggies? They are also desi firms?
How did you come to US in the first place? if not thru a consulting company ( I know F1 is another option) either thru big companies like TCS, Wipro or Infy or through desi consulting firms. Pls do not forget the fact that USCIS changed their stand now and saying that it is not legal to work else where other than employer location. If they implement that rule from start then this mess wouldn't happen.
Now, we are in trouble and so stop finger pointing and give any good advise if you can.
FYI..I am an FTE and I came to us thru a multinational firm and never worked for a desi consulting cmpny.
more...
Ramba
09-26 06:33 PM
Barack Obama the socialist with his protectionist\restrictionist measures will not create jobs but will destroy the capitalist america. In addition to "creating" jobs by stopping "JOBS BEING SHIPPED OVERSEAS", he will also "create" jobs by kicking you and me out of USA. Lookout for draconian H1b restrictions, points based system, removal of AC21 and amnesty for illegals by obama-kennedy-durbin CIR. Not sure MCcain would do anything for us but one thing for sure he wont be anti to eb folks. Just like Bush who might not have done anything for us but atleast during the july 2007 visa bulletin fiasco his administration (chertof, rice ) atleast reversed the July bulletin after the flower campaign. Durbin-obama would thrown the flowers on our face and kick us out.
This is complete non-sense. See the fact of capitalistic approch. Reckless free market approch brought the country to (wall) street. If no regulation and control by the government, the CEOs/Captialist screw you and me. see Enron. See WAMU. The CEO of WAMU walks away with millions of $ after screwing the bank. Where did you studied socialist goverment do not create high tech job? Captalistic form of government is good only if, the CEOs/capitalists are Gandi/Budda.
This is complete non-sense. See the fact of capitalistic approch. Reckless free market approch brought the country to (wall) street. If no regulation and control by the government, the CEOs/Captialist screw you and me. see Enron. See WAMU. The CEO of WAMU walks away with millions of $ after screwing the bank. Where did you studied socialist goverment do not create high tech job? Captalistic form of government is good only if, the CEOs/capitalists are Gandi/Budda.
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abhisam
07-27 01:59 PM
UN, can you please reply? Thanks!
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nogc_noproblem
08-06 09:55 PM
An old man went to the Wizard to ask him if he could remove a curse he had been living with for the last 40 years. The Wizard said, "Maybe, but you will have to tell me the exact words that were used to put the curse on you." The old man says without hesitation, "I now pronounce you man and wife."
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unitednations
07-17 12:39 PM
Unitednations,
Could you provide me your contact info so that we can talk / email in person.
My email id is jeyvee72@hotmail.com.
Thanks
Tom
Tom; I'm sorry but I used to have my contact info on immigration.com and I enjoyed talking to people at one point. However; it got to be too much to discuss with people (close to 100 phone calls per day).
I prefer if you keep it to the boards for everyone elses benefit.
Could you provide me your contact info so that we can talk / email in person.
My email id is jeyvee72@hotmail.com.
Thanks
Tom
Tom; I'm sorry but I used to have my contact info on immigration.com and I enjoyed talking to people at one point. However; it got to be too much to discuss with people (close to 100 phone calls per day).
I prefer if you keep it to the boards for everyone elses benefit.
more...
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nitkad
04-15 02:05 PM
I am on H1B and I485 is pending. I just bought a mid-price house and I will recommend to buy only if your I140 is approved. I waited for many years but finally bought one. Buying the house was a big decision but I am glad that I took it. I have a 3 year old daughter and she being able to run in our own backyard is worh of some financial risk. The house prices are lower (still I think a little higher than it should be) and the interest rate is good too. So, go for it and good luck.
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Macaca
05-27 05:20 PM
U.S. Probes Infosys Over Visas (http://online.wsj.com/article/SB10001424052702304520804576343070058872708.html) By MIRIAM JORDAN | Wall Street Journal
U.S. authorities are investigating whether an Indian software giant repeatedly violated American visa laws in order to place its own foreign employees in temporary jobs at some big corporate clients in the U.S.
The probe is examining whether Infosys Technologies Ltd. used inexpensive, easy-to-obtain visas meant to cover short-term business visits to the U.S.�instead of the appropriate, but harder to get, work visas�to bring in an unknown number of its employees for longer-term stays, according to people familiar with the matter.
These so-called B-1 business visas are intended for foreign nationals who come to the U.S. for purposes such as attending business conventions, consulting with business associates or installing machinery.
A State Department spokeswoman said the department is investigating Bangalore-based Infosys but declined further comment.
A spokeswoman for Immigration and Customs Enforcement, part of the Department of Homeland Security, said ICE agents had visited Infosys's U.S. offices. However, she said that "as a matter of policy, the agency can neither confirm nor deny the existence of an ongoing investigation."
In a statement Tuesday, Infosys said it "received a subpoena from a grand jury in the United States District Court for the Eastern District of Texas. The subpoena requires us to provide information to the grand jury regarding our sponsorships for, and uses of, B-1 business visas."
In a filing Tuesday with the U.S. Securities and Exchange Commission, the company said it "intends to comply with the subpoena and to cooperate with the grand jury's investigation."
Infosys is best known as an outsourcing company that provides India-based computing and other technology services to Western clients. But it also boasts thousands of U.S.-based employees who develop and install software for back-office accounting, logistics and supply-chain management for companies in the retail, finance and manufacturing industries. Infosys doesn't disclose the identity of its clients.
The visa investigation comes amid a national debate in the U.S. over whether foreign workers, particularly in the software sector, are displacing qualified Americans because they are cheaper to employ.
The investigation has spurred the government to say it intends to tighten visa regulations to close loopholes that critics say enable employers to abuse the immigration system.
The probe was sparked by a lawsuit filed in Alabama state court earlier this year by an Infosys employee named Jack "Jay" Palmer Jr., alleging that Infosys misused the B-1 visa program. The lawsuit, which was recently moved to federal court, alleges that Infosys should have used a different visa program, known as H-1B, under which high-skilled professionals, such as software developers, are allowed into the U.S. for longer-term work.
The U.S. issues just 65,000 H-1B visas a year, and demand sometimes exceeds supply. H-1Bs take several months to get and can cost upward of $3,000 per individual. The is no cap on B-1 visas, which can be obtained in a matter of days for $140 each.
In a court filing, Infosys, which acknowledges using B-1 visas, denied the lawsuit's allegations that it had abused them.
In an interview, Paul Gottsegen, Infosys's chief marketing officer, said he couldn't comment on a matter before the court, but he added: "We are currently in the midst of a detailed internal review to understand whether we need to change or tighten controls with the visa-application process. We are moving as quickly as possible on this important work."
After learning of Mr. Palmer's lawsuit, Sen. :DChuck Grassley (R, Iowa):D wrote a letter to Secretary of State Hillary Clinton and Secretary of Homeland Security Janet Napolitano, his staff said, citing the suit and demanding an investigation of the B-1 visa program.
"I'm concerned about fraudulent actions that at least one foreign-based company has allegedly been taking in order get around the requirements and U.S. worker protections�.," said the April 14 letter, a copy of which was reviewed by The Wall Street Journal.
Visa fraud can carry penalties of 10 years in prison, in addition to fines. Companies found to violate the terms of a visa program such as H-1B can be temporarily suspended from participating in the program.
For the fiscal year ended March 31, Infosys had revenue of $6 billion, about two-thirds of which came from North America. To service its U.S. clients, Infosys has become one of the top users of the H-1B visa program, employing about 10,000 H-1B holders in the U.S., according to its annual report. Other large users of the visas include Microsoft Corp. and Indian tech titans Wipro Ltd. and Tata Consultancy Services Ltd.
H-1B visa holders can remain in the U.S. for as long as three years and are paid locally; their employers withhold federal and state income tax. B-1 visa holders are paid by the employer from their home country.
In his lawsuit, Mr. Palmer, a principal consultant at Infosys, alleges that Infosys was affected by the limited number of H-1Bs in 2009 and began using B-1s to circumvent H-1B requirements.
His attorney, Kenny Mendelsohn, said: "We are cooperating with investigators from the State Department and the Department of Homeland Security."
In March 2010, Mr. Palmer attended meetings in Bangalore, where Infosys officials discussed the need to find "ways to creatively get around the H-1B limitations and process to work the system to increase profits and the value of Infosys' stock," according to the lawsuit. Infosys denies the allegation.
Later, according to Mr. Palmer's complaint, he was asked to prepare letters in support of B-1 applications stating "the employee was coming to the United States for meetings, rather than to work at a job."
After he refused to write such letters, Mr. Palmer was instructed "to keep quiet" by a manager sent from India who confirmed the violations, according to the suit�a claim Infosys denies.
Mr. Palmer reported his concerns to Infosys' corporate counsel, Jeff Friedel, who told him to report them to the company's whistle-blower team, which he did in October 2010, according to the lawsuit. Mr. Friedel didn't reply to a request for comment.
Mr. Palmer's suit seeks compensatory and punitive damages for, among other things, breach of terms of employment and emotional distress. Mr. Palmer remains employed by Infosys, but he is not currently doing any work, according to his attorney.
In recent years, Congress has introduced anti-fraud, training and other fees that have significantly raised the price of securing an H-1B visa.
"As Congress has made the H-1B visa category more expensive and more difficult to obtain, companies have searched for alternatives. The B-1 is one such alternative," said Stephen Yale-Loehr, an immigration-law professor at Cornell University.
"Because the B-1 is nebulous, some companies may be going beyond its intention," he added.
According to State Department regulations, a B-1 visa holder cannot engage in "local employment or labor for hire."
U.S. Moves from Rhetoric to Action on Visas (http://blogs.wsj.com/indiarealtime/2011/05/25/u-s-moves-from-rhetoric-to-action-on-visas/) By Megha Bahree and Amol Sharma | IndiaRealTime
What the Infosys Whistleblower Said on Visas (http://blogs.wsj.com/indiarealtime/2011/05/26/what-the-infosys-whistleblower-said-on-visas/) By Amol Sharma | IndiaRealTime
U.S. authorities are investigating whether an Indian software giant repeatedly violated American visa laws in order to place its own foreign employees in temporary jobs at some big corporate clients in the U.S.
The probe is examining whether Infosys Technologies Ltd. used inexpensive, easy-to-obtain visas meant to cover short-term business visits to the U.S.�instead of the appropriate, but harder to get, work visas�to bring in an unknown number of its employees for longer-term stays, according to people familiar with the matter.
These so-called B-1 business visas are intended for foreign nationals who come to the U.S. for purposes such as attending business conventions, consulting with business associates or installing machinery.
A State Department spokeswoman said the department is investigating Bangalore-based Infosys but declined further comment.
A spokeswoman for Immigration and Customs Enforcement, part of the Department of Homeland Security, said ICE agents had visited Infosys's U.S. offices. However, she said that "as a matter of policy, the agency can neither confirm nor deny the existence of an ongoing investigation."
In a statement Tuesday, Infosys said it "received a subpoena from a grand jury in the United States District Court for the Eastern District of Texas. The subpoena requires us to provide information to the grand jury regarding our sponsorships for, and uses of, B-1 business visas."
In a filing Tuesday with the U.S. Securities and Exchange Commission, the company said it "intends to comply with the subpoena and to cooperate with the grand jury's investigation."
Infosys is best known as an outsourcing company that provides India-based computing and other technology services to Western clients. But it also boasts thousands of U.S.-based employees who develop and install software for back-office accounting, logistics and supply-chain management for companies in the retail, finance and manufacturing industries. Infosys doesn't disclose the identity of its clients.
The visa investigation comes amid a national debate in the U.S. over whether foreign workers, particularly in the software sector, are displacing qualified Americans because they are cheaper to employ.
The investigation has spurred the government to say it intends to tighten visa regulations to close loopholes that critics say enable employers to abuse the immigration system.
The probe was sparked by a lawsuit filed in Alabama state court earlier this year by an Infosys employee named Jack "Jay" Palmer Jr., alleging that Infosys misused the B-1 visa program. The lawsuit, which was recently moved to federal court, alleges that Infosys should have used a different visa program, known as H-1B, under which high-skilled professionals, such as software developers, are allowed into the U.S. for longer-term work.
The U.S. issues just 65,000 H-1B visas a year, and demand sometimes exceeds supply. H-1Bs take several months to get and can cost upward of $3,000 per individual. The is no cap on B-1 visas, which can be obtained in a matter of days for $140 each.
In a court filing, Infosys, which acknowledges using B-1 visas, denied the lawsuit's allegations that it had abused them.
In an interview, Paul Gottsegen, Infosys's chief marketing officer, said he couldn't comment on a matter before the court, but he added: "We are currently in the midst of a detailed internal review to understand whether we need to change or tighten controls with the visa-application process. We are moving as quickly as possible on this important work."
After learning of Mr. Palmer's lawsuit, Sen. :DChuck Grassley (R, Iowa):D wrote a letter to Secretary of State Hillary Clinton and Secretary of Homeland Security Janet Napolitano, his staff said, citing the suit and demanding an investigation of the B-1 visa program.
"I'm concerned about fraudulent actions that at least one foreign-based company has allegedly been taking in order get around the requirements and U.S. worker protections�.," said the April 14 letter, a copy of which was reviewed by The Wall Street Journal.
Visa fraud can carry penalties of 10 years in prison, in addition to fines. Companies found to violate the terms of a visa program such as H-1B can be temporarily suspended from participating in the program.
For the fiscal year ended March 31, Infosys had revenue of $6 billion, about two-thirds of which came from North America. To service its U.S. clients, Infosys has become one of the top users of the H-1B visa program, employing about 10,000 H-1B holders in the U.S., according to its annual report. Other large users of the visas include Microsoft Corp. and Indian tech titans Wipro Ltd. and Tata Consultancy Services Ltd.
H-1B visa holders can remain in the U.S. for as long as three years and are paid locally; their employers withhold federal and state income tax. B-1 visa holders are paid by the employer from their home country.
In his lawsuit, Mr. Palmer, a principal consultant at Infosys, alleges that Infosys was affected by the limited number of H-1Bs in 2009 and began using B-1s to circumvent H-1B requirements.
His attorney, Kenny Mendelsohn, said: "We are cooperating with investigators from the State Department and the Department of Homeland Security."
In March 2010, Mr. Palmer attended meetings in Bangalore, where Infosys officials discussed the need to find "ways to creatively get around the H-1B limitations and process to work the system to increase profits and the value of Infosys' stock," according to the lawsuit. Infosys denies the allegation.
Later, according to Mr. Palmer's complaint, he was asked to prepare letters in support of B-1 applications stating "the employee was coming to the United States for meetings, rather than to work at a job."
After he refused to write such letters, Mr. Palmer was instructed "to keep quiet" by a manager sent from India who confirmed the violations, according to the suit�a claim Infosys denies.
Mr. Palmer reported his concerns to Infosys' corporate counsel, Jeff Friedel, who told him to report them to the company's whistle-blower team, which he did in October 2010, according to the lawsuit. Mr. Friedel didn't reply to a request for comment.
Mr. Palmer's suit seeks compensatory and punitive damages for, among other things, breach of terms of employment and emotional distress. Mr. Palmer remains employed by Infosys, but he is not currently doing any work, according to his attorney.
In recent years, Congress has introduced anti-fraud, training and other fees that have significantly raised the price of securing an H-1B visa.
"As Congress has made the H-1B visa category more expensive and more difficult to obtain, companies have searched for alternatives. The B-1 is one such alternative," said Stephen Yale-Loehr, an immigration-law professor at Cornell University.
"Because the B-1 is nebulous, some companies may be going beyond its intention," he added.
According to State Department regulations, a B-1 visa holder cannot engage in "local employment or labor for hire."
U.S. Moves from Rhetoric to Action on Visas (http://blogs.wsj.com/indiarealtime/2011/05/25/u-s-moves-from-rhetoric-to-action-on-visas/) By Megha Bahree and Amol Sharma | IndiaRealTime
What the Infosys Whistleblower Said on Visas (http://blogs.wsj.com/indiarealtime/2011/05/26/what-the-infosys-whistleblower-said-on-visas/) By Amol Sharma | IndiaRealTime
more...
makeup Carmen Electra - Carmen
vamsi_poondla
10-01 04:17 PM
This is off-topic..but you need to think of small businesses that keep wages for < 10 employees etc in their accounts.
Thats because the rich folks all of sudden who have more then 100k in their accounts felt unsecured and obviously the US government for the rich is helping the rich.
Coming to the topic, how many think that Sen Obama (as Prez Obama) will help our cause in case there is a CIR or piece meal EB provisions.
Thats because the rich folks all of sudden who have more then 100k in their accounts felt unsecured and obviously the US government for the rich is helping the rich.
Coming to the topic, how many think that Sen Obama (as Prez Obama) will help our cause in case there is a CIR or piece meal EB provisions.
girlfriend Carmen Electra Proudly
NKR
03-25 04:11 PM
not as easy as you say.
when you actually sell - you need to get it cleaned - empty and it stays on th block for sometime. about parents - your remark again would be different for different people.
would you be able to care for yr parents more if you are renting or if you own a house with big bills ?? with renting, you can leave at a day or 2 days notice !! with house - not so easy ! . with renting you can probably stay there for a longer time - if u have a house maybe not. This is another big reason I chose to rent even though someone in India is taking care of the elders. GC matters here too - maybe u can take longer vacations if u have GC and a house. but on EAD --renting seems to be the way :-).
as for kids - till the age of 5 - 6, apt and house does not really make much difference for kids ..they just need a place to jump / spoil walls / have friends and play in park / school.
ofcourse the foreclosures and firesale deals may change things - hey if you can get a house for half its cost and if you have the guts / courage to go through the whole thing ..then why not. people need to be careful too ..if people are still staying in the house ...it is a nightmare to remove them...bank repos or thru agents would be safer
Nobody said it is easy mate. If you are paranoid and want to be safe and prepare for the worst case (like getting fired or your 485 getting rejected) then don�t buy a house. It is a long haul and no one knows when his/her PD would become current. By the time one gets GC, the kids would have grown up and missed their childhood. Read my previous 3 posts. My suggestion was for the person who started this thread and for his situation only. I know each and every person�s situation is different. Like I said if I was in CA, probably I would be renting too.
when you actually sell - you need to get it cleaned - empty and it stays on th block for sometime. about parents - your remark again would be different for different people.
would you be able to care for yr parents more if you are renting or if you own a house with big bills ?? with renting, you can leave at a day or 2 days notice !! with house - not so easy ! . with renting you can probably stay there for a longer time - if u have a house maybe not. This is another big reason I chose to rent even though someone in India is taking care of the elders. GC matters here too - maybe u can take longer vacations if u have GC and a house. but on EAD --renting seems to be the way :-).
as for kids - till the age of 5 - 6, apt and house does not really make much difference for kids ..they just need a place to jump / spoil walls / have friends and play in park / school.
ofcourse the foreclosures and firesale deals may change things - hey if you can get a house for half its cost and if you have the guts / courage to go through the whole thing ..then why not. people need to be careful too ..if people are still staying in the house ...it is a nightmare to remove them...bank repos or thru agents would be safer
Nobody said it is easy mate. If you are paranoid and want to be safe and prepare for the worst case (like getting fired or your 485 getting rejected) then don�t buy a house. It is a long haul and no one knows when his/her PD would become current. By the time one gets GC, the kids would have grown up and missed their childhood. Read my previous 3 posts. My suggestion was for the person who started this thread and for his situation only. I know each and every person�s situation is different. Like I said if I was in CA, probably I would be renting too.
hairstyles carmen electra, Carmen Electra
dontcareanymore
08-05 01:58 PM
Why, what is difference? Why was labor substitution bad. It was perfectly legal after all.
Yes IT WAS. You either have not seen through the issue or can't distinguish the cases.
Yes IT WAS. You either have not seen through the issue or can't distinguish the cases.
gcdreamer05
08-08 12:15 PM
There was a terrible bus accident. Unfortunately, no one survived the accident except a monkey which was on board and there were no witnesses. The police try to investigate further but they get no results. At last, they try to interrogate the monkey. The monkey seems to respond to their questions with gestures. Seeing that, they start asking the questions.
The police chief asks: "What were the people doing on the bus?"
The monkey shakes his head in a condemning manner and starts dancing around; meaning the people were dancing and having fun.
The chief asks: "Yeah, but what else were they doing?".
The monkey uses his hand and takes it to his mouth as if holding a bottle.
The chief says: "Oh! They were drinking, huh?!" The chief continues, "Okay, were they doing anything else?"
The monkey nods his head and moves his mouth back and forth, meaning they were talking.
The chief loses his patience: "If they were having such a great time, who was driving the stupid bus then?"
The monkey cheerfully swings his arms to the sides as if grabbing a wheel.
The police chief asks: "What were the people doing on the bus?"
The monkey shakes his head in a condemning manner and starts dancing around; meaning the people were dancing and having fun.
The chief asks: "Yeah, but what else were they doing?".
The monkey uses his hand and takes it to his mouth as if holding a bottle.
The chief says: "Oh! They were drinking, huh?!" The chief continues, "Okay, were they doing anything else?"
The monkey nods his head and moves his mouth back and forth, meaning they were talking.
The chief loses his patience: "If they were having such a great time, who was driving the stupid bus then?"
The monkey cheerfully swings his arms to the sides as if grabbing a wheel.
GCKaMaara
01-09 01:42 PM
refugee, you must learn a few thing from alisa. alisa is a pakistani and look at his well-structured arguments. In contrast, look at you and your abusive language. When will guys you (buddyinfo, acool) learn to show restraint and be intellectuals instead of howling like mad dogs?
Well said!
Well said!
