http://www.rediff.com/money/2007/feb/01cisco.htm
"Cisco wants to have 20 per cent of its senior management working at the company's Globalization Centre East currently under construction in Bangalore by 2010," according to Cisco.
More Bad News for Canada - The Land of Safety Shoes !.
1. Is Canada Slipping in R&D ? - Very much so and the new emerging global R&D centers are Albany, NY; Bangalore, India and Shanghai, China.
www.trra.ca
2.The great university cheating scandal, MACLEAN'S, Feb 12, 2007 page 32 to 36 where in it is reported that more than 50% of the students are cheating and the university degrees are losing their value.
3.Pfizer lays of 10,000 in global restructuring and off which 285 are going from Canadian operation out of a total of 1500.
4.BMO is cutting 10,000 jobs while the top management is getting pay rise.
5.It is reported that Thomsons is setting up its new electronic plant in Minnesota and will be hiring 1500 people.
6.Design guru Bruce Mau is shifting to Chicago from TO, citing better opportunities and appreciation.
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Speech by Thomas Friedman of The New York Times....
"When we were young kids growing up in America, we were told to eat our
vegetables at dinner and not leave them. Mothers said, 'think of the
starving children in India and finish the dinner.' And now I tell my
children: 'Finish your maths homework. Think of the children in India
who would make you starve, if you don't.'"
Shankaracharya - first of all BMO is laying off 1000 employees and not 10000 (The extra "0" can make a lot of difference). As for the top management, they always get the pay rise (probably you woudn't complain if you were among one of the CEO's of a company,
Now about your other snippets......... what are you suggesting that we infer from them......... that we are a community that only focuses on "Bad news"........ or that we are so thick skinned that we just gripe, gripe, gripe, and still stay in the "land of safety shoes"?
I thought we stopped griping. Was I dreaming?
Location: God's own country
Posted on: 04-02-07 18:55:26
Sankaracharya,
First of all I want to compliment you on your post. I have found that you are very well read and that all the information you know ranges from hearing 680news, reading the Tor. Star, many Financial columns etc...
Even a family member in my house complimented you on your knowledge of diverse news.
I would encourage you to share some of your knowledge with us (Time permitting for you).
TK A
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I am a Gents and not a Ladies.
Quote:
Originally posted by tamilkuravan
Sankaracharya,
First of all I want to compliment you on your post. I have found that you are very well read and that all the information you know ranges from hearing 680news, reading the Tor. Star, many Financial columns etc...
Even a family member in my house complimented you on your knowledge of diverse news.
I would encourage you to share some of your knowledge with us (Time permitting for you).
TK A
Oh come on, enough already!!!
Dear Thiru,
Thank you for your kind remarks in regards to griping. There is no griping personally from me as 
I've already moved onto safer shores . My happy days have started. But I just want to summarize the recent events in the news media for the benefit of those in far away lands who do not have access to this privy information.
The effects of the current events will sting (our) children when they graduate with big dreams and $75,000 OSAP loans to face a job market which will offer $15 per hour working in warehouses and they will turn around and ask us why have brought us into this mess. Our children did not take the decision of immigrating, we forced the decision on them(with good intention) but sourely the reality is not so.
Kindly talk to your friends in the IT sector, Banking sector, Accounting sector to find out what is really going on. I can list out a few addresses who live very near to you who have $350,000 to $400,000 homes with mortgages of $2000 + per month who privately tell me that they are unable to sleep or wake in the middle of the night with fear of losing their jobs. These professionals had very fancy jobs/salaries before with out the fear of job loss and look what is happening now.
I will just give an example of a husband and wife who both are professionals in the neighbouring city of ours, and the wife travelled to India after 4 years and after obtaining her Canadian Passport and after she returned back after her first vacation in 4 years, her boss quietly told her that we managed without you for a month and now you are no longer required. The husband was hired by a top Canadian company at a salary of $48,000 PA, and he was given an assistant at $20,000 and with in a month of his hiring his boss with a salary of $100K + was sent packing. The Desi was asked to take over his bosses responsibility at the same salary and his assistant fell down and broke his leg and is on Work Comp. Now my friend has to do his bosses job and his assistant job at the same salary. A couple of weeks ago he returned home on a Thursday afternoon complaining of chest pain. The reason being he is the single bread winner now with a mortgage to pay every month. The real sad part was that he was in India before migrating to Canada with a salary of INR 75 Lakhs per annum in Mumbai in the field of Stock Market/Financial Services.
In IT field what is happening is that they are hiring people on contract and with in a short period they find a new immigrant with equivalent qualification who is willing to work at 30% lesser. The story is the typical malayali tea shop story. The second guy sets shop next to a sucessful shop and undercuts each other, and eventually bring down the whole system.
Recently Canadian Tire hired 40 people in their Steeles Warehouse. The number of applicants were 5000+.The salary offered is $17.50 per hour. If you see around manufacturing companies are shutting down and being replaced by Warehouses and Supply chain management companies. Any economy which does not have/invest in manufacturing or R&D and relies heavily on service sector or Tax Dollars will go down. The recent economic survey places Canadian Economic Growth far below Kazhakaztan and some ex - soviet republics.
I know for a fact people will spend 6 to 8 weekends checking out everything before buying a house or even a shirt. But sadly to say they are not doing the same before migrating to Canada.
Hence my post was for those few who are in far away land only concerned about landing papers and passport return who do not have a clue of the current situation here.
Incidentally I'm spending part of my time south of the border and what is happening there is a bigger mess. I hope that mess does not create/initiate a mess here.
Hence to summarize and suggest that for professionals the future for the next 15-20 years is in India.
Lastly TK thanks in reposing confidence in me and my post. We know with in our hearts we are indeed reaching a few souls and it only matters to me that they are well prepared than the mass Janata ! who will migrate no matter what is reported or said as the other guy was stupid and he did not do his homework or did not have soft skills.
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Speech by Thomas Friedman of The New York Times....
"When we were young kids growing up in America, we were told to eat our
vegetables at dinner and not leave them. Mothers said, 'think of the
starving children in India and finish the dinner.' And now I tell my
children: 'Finish your maths homework. Think of the children in India
who would make you starve, if you don't.'"
Location: God's own country
Posted on: 05-02-07 15:52:03
Again Sankaracharya , Thanks for giving us such useful information. I could add on to your post but feel that it is a waste of my time to do that. After 2 years of being in this forum, I just try to be like a guy without any feelings. (meaning that i take no joy/pain to see any person suffer or come up in life-Desi or otherwise). It has also been a year since i have returned a phone call.
Keep up the good work.
TK A
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I am a Gents and not a Ladies.
