Category Archives: Business

March 10, 2017

The horrendous visa program forcing tech workers to ‘dig their own graves’

“Why should IBM or Disney be deciding our future voting population?” Horowitz asks. “That needs to be decided by our general immigration system, not those looking to save $15,000 or $20,000 on their labor costs.”

Leo Perrero still remembers the humiliation of losing his job.

“All of you in this room will be losing your jobs in the next 90 days,” he was told, later recalling the experience before Congress.

“Later that same day,” he added, “I remember very clearly going to the local church pumpkin sale and having to tell the kids that we could not buy any because my job was going over to a foreign worker.”

Disney replaced Perrero using a little-known and oft overlooked provision of immigration law that allows big tech companies to replace their employees with foreign workers under extremely questionable circumstances.

In an upcoming episode of “Michelle Malkin Investigates” — “H-1B Hell: The Sellout of America’s Best and Brightest Workers” — Malkin delves into how the H-1B worker visa program has been putting people like Leo Perrero and countless others out of work since 1990.

On location at UC San Francisco, where 79 IT workers recently lost their jobs to an outsourcing firm and user of H-1B visa workers, Malkin spoke to some of tech workers laid off by the university.

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March 1, 2017

Wells Fargo Hit With Film-Finance Fraud Suit

The fraud resulted from “systemic defects” in how the bank treats employees, according to the suit.

Wells Fargo is facing a multimillion-dollar film-finance fraud lawsuit, capping off a 2016 of legal woes for the banking giant.

British financiers Vandermolen Film Co. and Bridgeworks Media Capital claim Wells Fargo employees conned them into funding bridge loans and they’re owed at least $14 million, according to a complaint filed in Florida state court last week.

“Upon information and belief, the brazen and repeated acts of fraud, theft, conversion, and negligence on the part of the WELLS FARGO DEFENDANTS detailed in this Complaint are the result of systemic defects in the way the WELLS FARGO DEFENDANTS manage, train, supervise, hire, reward, and punish their employees,” writes attorney Roy Altman in the complaint.

The suit notes that earlier this year Wells Fargo made headlines when it was revealed its employees had opened more than 2 million accounts that may not have been authorized by customers in order to meet sales goals. That resulted in $185 million in fines and a $5 million payout to customers.

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February 6, 2017

Indian Software Mogul: Hire Americans Now Because Trump Opposes H-1B Outsourcing Visas

A leading Indian software entrepreneur says Indian companies must accept President Donald Trump’s pro-American policies and must start hiring Americans instead of sending Indian white-collar H-1B visa workers into American job sites.

The startling Feb. 2 recommendation came from N.R. Narayana Murthy, the president and co-founder of the most-criticized H-1B outsourcing firm, Infosys Limited, which has asked for more than 100,000 work visas since 2013. The company uses the visas to send their lower-wage Indian employees to work in U.S. banks, manufacturers and service companies throughout the United States.

“We should stop using H-1B visas and [stop] sending a large number of Indians to those countries to deliver services,” he said in an interview on an Indian affiliate of Microsoft’s MSN network.

We have to recruit from colleges there, we have to train those local people [to work with] Indian companies … it is great opportunity for Indian companies to become more and more multicultural.

Murthy’s televised concession appears as Indian and American companies rally to stop Trump from implementing his campaign promise to reform the H-1B outsourcing visa program.

Roughly 650,000 foreign H-1B workers are employed in a wide variety of white-collar jobs in the United States, including roughly 100,000 as academics, teachers, doctors, therapists, scientists, and designers at American universities. Overall, roughly 1 million foreign college-grads are employed as contract workers in the United States, even as 800,000 Americans graduate from college each year with skilled degrees to compete for well-paying jobs.

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January 24, 2017

U.S. Airline Pilots Rally at White House: Will Ask Trump To Block Obama’s Export of White-Collar Jobs

Airline pilots will hold a White House rally on Tuesday asking President Donald Trump to block Obama’s last-minute approval of a plan that would replace thousands of American pilots with foreign aircrew paid at rock-bottom foreign wages.

The airline pilots’ appeal will come one day after Trump’s signature on Monday killed the Trans-Pacific Partnership trade deal, which would have allowed an unlimited number of foreign companies to replace U.S. workers with imported foreign workers paid $1 an hour wages.

“This [Obama pilot] decision is just another failed trade deal by the Obama administration, giving foreign companies an unfair advantage over U.S. companies,” said Captain Jon Weaks, Southwest Airlines Pilots’ Association president.

“The Obama administration has tilted the field of play in favor of a foreign competitor and put thousands of good-paying, middle-class, U.S. aviation jobs at risk,” said Chip Hancock, chairman of the union’s governmental affairs committee. “We’re very pleased with the [new] president so far for what he’s done to squash these bad trade deals … [and] with the president’s pro-U.S. worker, pro fair trade mantra.”

Throughout his two terms, Obama worked to increase the annual inflow of foreign white-collar workers, and his last-minute regulations allow many more white-collar contract workers to get permanent residence.

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January 11, 2017

France’s Le Pen says would seek Trump-style repatriation of car plants

Speaking on France 2 Television, she described the policy as “economic patriotism, (and) intelligent protectionism.”

Far-right French presidential candidate Marine Le Pen said on Tuesday she would seek to repatriate production of French motor vehicles and other industrial goods – just as President-elect Donald Trump hopes to do in the United States.

Trump has threatened to slap tariffs on cars made abroad, saying the practice costs American jobs. He has praised Ford Motor Co’s decision last week to scrap a plan to build a plant in Mexico, and Fiat Chrysler Automobiles’ confirmation of plans to create 2,000 jobs at its U.S. factories.

Asked whether she would like to see the same thing happen with French manufacturers Renault and PSA Peugeot Citroen, the National Front (FN) leader said: “He (Trump) is putting in place measures I have been demanding for years.”

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“I don’t mind explaining to French companies that they can not escape tax that they should be paying in France, that they cannot go offshore without suffering the consequences … A choice has to be made, a choice of patriotism.

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January 10, 2017

Toyota announces $10 billion U.S. investment days after Trump warning (Video)

Donald Trump on Thursday specifically targeted Toyota in a tweet.

Chalk up another win for the president-elect?

Toyota is set to make a $10 billion capital investment in the U.S. over the next five years, Toyota Motor North America chief executive Jim Lentz said during an interview at the Detroit auto show, Reuters reported.

The $10 billion figure matches Toyota’s investments from the previous five years.

The move follows similar commitments to U.S. production made by competitors Ford and Fiat Chrysler.

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“Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax,” Trump tweeted.

On Monday morning, Trump lauded Ford and Fiat Chrysler for their recent announcements in a pair of tweets.

“It’s finally happening – Fiat Chrysler just announced plans to invest $1BILLION in Michigan and Ohio plants, adding 2000 jobs. This after Ford said last week that it will expand in Michigan and U.S. instead of building a BILLION dollar plant in Mexico. Thank you Ford & Fiat C!” he tweeted.

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January 9, 2017

Bureaucracy, immigration forced Gavin to close his restaurant (Video)

Gavin McInnes of TheRebel.media just had to sell his NYC restaurant, and the reason why is another example of government making it almost impossible for small businesses to succeed.

January 6, 2017

Stanley Black & Decker to open U.S. plant after Trump’s ‘border tax’ threat

“It’s going to be advisable to have more manufacturing in the U.S.,” Loree said.

One of the nation’s best-known toolmakers, Stanley Black & Decker, said Thursday that it will move more manufacturing back to the U.S. from overseas, including construction of a new $35 million factory after acquiring the Craftsman brand from ailing retailer Sears Holdings.

Expanding American manufacturing makes “business sense” amid “pervasive” uncertainty regarding the future of U.S. trade with China and Mexico, Stanley Black & Decker CEO James Loree told investors Thursday in a conference call.

Although he did not mention Donald Trump by name in his remarks to investors, Loree hinted that the move has the side benefit of inoculating his company from the possible effects of the president-elect’s threatened “border tax,” a tariff on imports.

“It’s going to be advisable to have more manufacturing in the U.S.,” Loree said.

The sale of Craftsman marks another big move by Sears Holdings to stem losses. It also announced the closing of another 150 stores, including 108 Kmart locations.

Stanley Black & Decker is buying Craftsman for about $900 million, including future royalty payments. The move came several months after Sears put the Craftsman, Kenmore and DieHard brands up for sale as it seeks an elusive turnaround. Including the closing of 108 Kmart and 42 Sears stores, the company said the moves are “a difficult but necessary step as we take actions to strengthen the company’s operations and fund its transformation.”

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December 14, 2016

IBM Promises to Hire Americans Ahead of Trump Meeting

Rometty also said that IBM intends to invest $1 billion in training and development of its U.S. employees over the next four years. Pratt declined to say if that represented an increase over spending in the prior four years.

IBM Chief Executive Ginni Rometty pledged to hire and train workers in the United States ahead of a Wednesday gathering where she and other technology executives will meet with U.S. President-elect Donald Trump.

“We have thousands of open positions at any given moment, and we intend to hire about 25,000 professionals in the next four years in the United States,” Rometty said in a USA Today editorial published on Tuesday afternoon.

IBM spokesman Adam Pratt declined to say how that hiring might be offset by staff reductions or disclose how many people IBM employs in the United States.

“We expect to end 2016 with our U.S. workforce about the same size as it was at the beginning of the year. By 2020, we expect it to be larger than it is today,” Pratt said.

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December 3, 2016

Report: Facebook Planning to Promote News from ‘Favored’ Media Partners

Facebook is developing a feature that will promote content in people’s news feeds from publishers specifically chosen by the company, according to a report from Business Insider.

The feature, which will be known as Collections, will reportedly promote news stories, videos, and other content from publishers “handpicked” by Facebook.

Business Insider, who say they have spoken to people involved in the project as well as seeing internal Facebook documentation, reports that Facebook are planning on approaching their preferred media companies in the coming weeks.

As a result of the Collections system, partner companies chosen by Facebook will achieve a far greater reach to Facebook’s 1.8 billion user base than they would normally.

In the run up the election, Facebook co-founder Dustin Moskovitz gave over $35 million to left-wing causes in an attempt to defeat Donald Trump, whilst Hillary Clinton was the largest single beneficary of political donations from Facebook employees.

The development comes following hysteria surrounding the rise of “fake news,” with many people blaming the role of social media, particularly Facebook, for the election of Donald Trump.

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