x
<<   <   Page 23 / 47   >   >>
paolo.franzoi 12/5/2012 | 1:04:51 AM
re: Force10 Relocates Jobs to India
Sigint,

Don't get too worried about Why. Remember he is a big proponent of the North Korean economy.

seven
sanpedro 12/5/2012 | 1:04:50 AM
re: Force10 Relocates Jobs to India The North Korean Market is overated.

big daddy 12/5/2012 | 1:04:49 AM
re: Force10 Relocates Jobs to India True dat!
whyiswhy 12/5/2012 | 1:04:46 AM
re: Force10 Relocates Jobs to India Brooks:

Yo mamma!

-Why
whyiswhy 12/5/2012 | 1:04:44 AM
re: Force10 Relocates Jobs to India Brooks:

If you recall (obviously not) I made the analogy to North Korea being Japan's Cuba circa 1965 or so. Crazy guy in charge, nukes, etc.

Neocons like Brooks are strong proponents of the North Korean strategy: crazy man in charge puts the country into massive debt and threatens the world with nukes.

Come to think of it, that's why GW and the neocons leave NK alone: professional courtesy.

-Why

Hey, great name for a heavy metal band:

GW and the Neocons...



sigint 12/5/2012 | 1:04:43 AM
re: Force10 Relocates Jobs to India why:
1. I am curious: how much of your personal portfolio, outside of your cash, resides in savings in an Indian-chartered bank? I am guessing it is very little

2. As to the remark about realestate being the best investment, it's because it is a limited resource.

3. And how about addressing the issue: the postal saving situation is apparently widely recognized as a major scam within India.

4. And sounds like your voodoo economists are at it too...reducing taxes while debt increases.

5. I guess you think that by raising that issue, you can blow smoke up everyone's backside.
__________________________________________________

1. It isn't very little, but not very high either. The substance of your statement is correct - however, the reasons attributed aren't.

When my income was lower, I did invest in pension funds as they fetched handsome tax breaks. In the income bracket I'm in right now, I don't get any tax breaks and hence, I've minimised investment in low-interest savings. Instead, I park my money in real-estate, which gets me a tax breaks, and securities, as there's no long term capital gains tax.

A bulk of middle-class folks continue investing in pension funds and such, which are considered very safe as they can't be attached by courts of law in the event that an individual has to file for bankruptcy.

My cash reserves are indeed in Indian chartered banks. Up to a certain amount, deposits in these banks enjoy the Sovereign gurantee. That's gives me peace of mind should the remote possibility of a bank collapse happen some day.

2. And also because of the tax breaks. There's shortage of housing, and policy is to encourage real estate development through private means.

3. You want a real scam - I'll tell you of one. The NPA limit (NPA - "non productive assets" - bad loans - I don't know what euphemism is used in the US) limit for banks has been increased by this government (under communist pressure) from 18% to 30%. that has made it easier for people with dubious business plans to acquire loans, increased money supply indiscriminately and led to high inflation in it's wake. This is plain bad economics, nothing voodoo about it. These are the results of very real political compulsions in a democracy.

As for the postal scam - are you referring to the "Fake stamp paper" scam? That was very big - but had nothing to do with savings. It was a case of massive revenue loss due to an organised mafia selling fake stamp papers on which property deeds are executed. I can't recall a scam relating to postal savings per se. If you have a pointer on the web, that would help.

4. Taxes have been reduced progressively in the past two decades, never drastically like in the US. Revenue realisation has always been allowed to stabilize each time a tax has been cut. Bulk of this has been tariff rationalisation on imports, which is anyways an obligation under WTO.

5. What on earth could be my motive to do that? When I don't agree with something, I express myself with the best information that I do have. You don't need to agree with me, but I don't see why you should disparage my attempt at putting my understanding of a situation on record.

And, I was looking forward to your comments about the nature of busineses in the US which work under the IRS radar. I do value what you say about the situation in the US, because I know you understand that much better than I do.
sanpedro 12/5/2012 | 1:04:38 AM
re: Force10 Relocates Jobs to India You forgot "The End".
Road Trip 12/5/2012 | 1:04:38 AM
re: Force10 Relocates Jobs to India SanPedro-

Is that really you? Hit me back, just to chat.

RT
paolo.franzoi 12/5/2012 | 1:04:36 AM
re: Force10 Relocates Jobs to India
whyisamoronofratherlargeproportions,

Neocon?

Wow. I was conservative long before Neocons existed.

So, tell me should we bring Fidel over to run our country? He certainly seems to be your ideal leader given that Che is dead.

sigint,

Why understands nothing about economics, business or the world at large. Listening to him for business information is rather like going to a lunatic asylum and asking about the meaning of life.

seven
xfrcex 12/5/2012 | 1:04:35 AM
re: Force10 Relocates Jobs to India
I am sure Force10 can do better than Feldman and his cronies who have been peddling B grade products. Not only the India comment was insensitive, but also untrue. As someone pointed out, there was no India subsidiary formed. No one had even visited India to set anything up.

From what I gather, they have now sent an inexperienced eng manager, to setup and run the show. Guess what Force10, it will take a while to setup shop and get people productive.

As I understand, folks were expecting raises and what did mgmt deliver, pink slips and for the few 'fortunate' ones "India or else". For the rest of the lucky ones, it is flogging as usual. For all those who have been let go, consider yourself lucky. Life is much better outside Force10.

Force10 has good products. Unfortunately, sales just cannot sell and engineers will pay for this with more pink slips next quarter. I hear that some of the smart ones are not waiting and headhunters have a ton of resumes. Rumor has it, some of the sales execs are also looking out.

It is a shame to see how a bad management team can kill a good product.

And folks thought the old CEO was bad, he atleast kept the ship afloat.

xfrcex
<<   <   Page 23 / 47   >   >>
HOME
Sign In
SEARCH
CLOSE
MORE
CLOSE