Bad Economy Jobs

Do Foreigners Care For The U.S. Economy? by Steve Dimeck

I've been working for an engineering firm for over 6 years. The original company has been bought out and is now owned by a foreign firm residing in Germany. I might add, it's owned by the Germans.

I came on board right when the whole transaction was taking place - 6 years ago. Since then, a very noticeable trend has been noticed by the employees hired before the transition - or what was left of them. As the American employees were leaving the company for one reason or another, they were being replaced by German employees. Also, as new positions were opened, most of the positions were filled with; who else but German individuals. 6 years after the buy-out of the American firm, the ratio of the American employees vs. German employees has increased to around 50/50. The total amount of people in the company didn't change much, but the ratio changed drastically.

Back in November of 2001 when the massive layoffs were happening around the country, over 100 people lost their jobs in one day. They were let go. The reason - bad economy. Well, the economy has picked up since then, at least for this company, but the people were never called back. Their positions were filled in with; yes you guessed it right - non American people for the most part.

Toward the end of 2004, a major change occurred in our department. All of the American "chiefs" were replaced by German "chiefs." And then, we had a group meeting where the "biggest German chief" addressed us. At the meeting we were told that, quote: "We have too many American Suppliers." Their goal was to outsource the work to foreign companies for cheaper labor. That meant getting rid of the "American Suppliers." More American people loosing work and even their jobs. The term "We have too many American Suppliers," was mentioned several times by the biggest German "chief" at that meeting.

At the same meeting we were also notified that "they" were going to close an assembly plant providing incomes to several hundred American families. The work was going to be transferred to Mexico for cheaper labor. Well, the plant in Mexico was already built, and by the end of that year, around 400 people lost their jobs in one day.

The company is still experimenting with third world countries for outsourcing even more work. The company's stock has been soaring for the past 6 years. From what started out as $7 per share, it's now over $100 per share. The company is raking in tremendous profits each year.

And where does that money go?

Well, the mother company outside the U.S. is accumulating all that wealth while boosting their economy.

And, what about the U.S. economy?

It has become a nationwide trend for foreign companies to come in and buy out American companies. But then, the foreign company has to pay the U.S. workers in U.S. dollars. That money converted to their native monetary ends up costing them much more than what they would pay their own people in their homeland. Or, the alternative would be to bring in their own people in place of the American workers. And the rest, well, ship the work to third world countries for cheaper labor.

The company now ends up generating an enormous profit since the expenses are significantly lower than what they were with the American Owned company. Low paid foreign employees working on U.S. soil and not paying taxes, supported by cheap labor from the third world countries. And what happens to the American families caught in the middle of this economic shift?

America is known to be providing relief to disaster areas and providing support to countries in trouble. But who is providing relief to the American Families in great need? Who is providing relief to the American families buried in financial debt? Who is providing relief to the American people who have lost their jobs because their work was shipped over to third world countries for cheaper labor?

Who is providing relief to the over-exhausted father that I bumped into while doing my grocery shopping? He was so tired he could hardly keep his eyes open. We attend the same church. I said "Hi" to him as he tried to force a smile onto his face. He could hardly talk. I kept my conversation short. He was let go from his job several weeks ago. Now he works 14 hours a day at two odd jobs, while trying to bring in the same income that he used to bring to support his wife and two children.

Who is going to provide relief to the overworked parents that had to pull their 17 year-old daughter from school? They both worked at the same job and they both lost their jobs after their shift was completely eliminated. The work was transferred to Mexico. Now they both have to work for a measly $7 an hour while having their 17 year-old daughter watching her 2 younger siblings. The mom asked my sister to help her find a better paying job.

Who is going to provide relief to the father who has to work in a different state? He was let go from his job after it was bought out by - gues who - a foreign company. He couldn't find another job for 8 months. His family ran out of money and they came to ask us for some financial help. He finally did find another job, but in a different state. On Sunday evening, he leaves his wife and two little daughters, and drives away. On Friday, late in the evening, he comes back home to spend only two days of the week with his loved ones.

Who is going to provide relief to the cashier at the local food market that couldn't stop begging me to take his resume and pass it around? He lost his job because his position was eliminated and outsourced. Now he works as a cashier while passing his resume to as many customers as he can at the check out.

Who is going to provide relief to my friend who lost his job because the company that he worked for was bought out by - a foreign company? The reorganization did not include him as well as many of his coworkers. He never got his job back so now he has to work for half of what he used to make while trying to provide for his wife, two little girls and his elderly mother.

Who is going to provide relief to all the people who lost their jobs because their positions were transferred over to a third world country for cheaper labor? How are they going to feed their families? Can they find other jobs that pay the same money or maybe more?

As I drive around town, I continue to see foreign flags popping out in front of many local firms. What's the message? The firms have been bought out by the foreign company that the flag represents.

I continue to talk to local people who are telling me the same stories. They're losing their jobs because their positions are either being transferred to a third world country such as Mexico, India and China for cheaper labor, or they're being replaced with foreign workers on a working visa.

American people are continuing to lose their jobs or being forced to work for less money while getting deeper and deeper in debt. The foreign companies are continuing to buy out American companies, while doing anything to increase their profit - even if they have to get rid of the American Employees from what was previously an American Owned company on American soil.

The former American companies now owned by foreign companies are continuing to generate enormous profits because of the lower expenses (work force) combined with the profit from their sales. That money is continuing to boost the economy of the country that the mother company is from.

Meantime, the American economy is continuing to ride the roller coaster.

The cost of living is rising at a frightening rate, but the American people aren't getting any major adjustments to their salaries. The bankruptcies are at an all time high. The credit card debt is reaching alarming heights. The foreign flags are continuing to wave proudly next to the American flag; line-in-line; on American soil.

But how much do these foreigners really care for the American economy?

This article was produced by http://lawyer.bestinfo4you.com - an Attorney Resources and Information website. A great source to find a lawyer or to get more information for help with your attorney.

Article Source: http://www.earticlesonline.com/Article/Do-Foreigners-Care-For-The-U-S--Economy-/75681

Military contracting last defense in bad economy

Los Angeles And The Overall Economy

Facing the current downed economy in Los Angeles makes it tough to repair.  Every time someone gets back on track, there is one more that loses track and begins having financial trouble.  There are also too few jobs in Los Angeles; many more would be required for the population, and the dearth makes things even worse.  However, there is hope for people having problems in other respects.

Budgeting income is necessary and can even entirely fix debt issues.  A payment plan can fix small debt problems pretty quickly, and also enable people to relax knowing they are handling their problems.  Another great idea is to call the credit card companies and let them know the situation.  Although the account may not be usable, interest rates can be discussed to make repayment less difficult.

Debt consolidation companies are also a great idea.  These organizations specialize in contacting each company that money is owed to and make special deals with each of them for payment plans without high interest rates.  The advantage of this is it is still paying the money back without one needing to file anything official and immediately begins improving credit rating.  The majority of companies are non-profit or charge very minimal fees since their main purpose is to help people instead of gaining profits.  This will make it easy to get rid of moderate to lower debts, though it may take a while to pay it off.

Significant debt can also be recovered from.  While it needs to be avoided at all costs, some debt is much too high to consider trying to repay within a reasonable amount of time and major strides must be taken in these cases.  Bankruptcy is not as bad as some might think, since it is possible to keep possessions while relieving the debt.  It is not as big of a deal after seven years, but bankruptcy stays on a credit score for a minimum of 7 years.  Additionally, many people can begin building good credit after filing and the impact is very minor unless searching for loans for homes or cars.

Obtaining a bankruptcy attorney is the very first thing someone filing has to do.  Location does not matter when looking for a lawyer, and a Reseda bankruptcy attorney vs a Woodland Hills bankruptcy attorney should be dependent on quality over proximity.  While the initial consultation may be in person, most of the business will be done over the phone.  To be able to file with a good lawyer and get by with minimal negative impact, fees that are at least a thousand dollars must be saved up for before hiring the attorney.  The better the attorney, though, the less of an impact it is going to have on the life of the person filing.

Educational Loans For Bad Credit: A Evaluation Of The Facts

Obtaining Finances for School

The truth of the matter is that bad credit is at all times a barrier when looking for private loans, but school loans are a distinctive kind of financial package. Instead of requiring a credit check, school loans are given based upon need and frequently don't take credit into consideration whatsoever. The cause that this could happen is easy: because the loans are just designed to finance school costs, such as college tuition and books, lenders really feel that the investment is worthwhile. When you finish college, the new work you get will much more than help you pay back the money which you owe.

Another cause that school loans are given to those with bad credit comes from the unique circumstances surrounding their repayment. Many loans are not repaid till after you are not enrolled in school, meaning which you are not required to preserve a job to repay your loans as long as you engage in full-time study. Also, school loans are the only loans that cannot be discharged in bankruptcy. This means that regardless of what, you will need to refinance student loans.

Finding a Source for Student Loans

There are several institutions and entities that present school funding and who are willing to function with those that have bad credit or no credit history (such as students merely out of high school). The federal government is the most well known place to begin. The amount will vary based on your financial need, level of education (graduate students are offered much more money than undergraduates) and the credit load which you carry every semester.

When you have determined just how much money is offered by the authorities, your next stop is to speak towards the Financial Aid department at your specific institution. The people there could inform you of any college-specific loans and scholarship grants that might be accessible to you. Occasionally, based on your major, individual departments could present grant and work-study money as well. You could find out about these opportunities via your Financial Aid office or from the department secretary at your school.

Finding the money that you need to fund your college education is simpler than you thought. Despite bad credit, student loans could be discovered with ease. Having a couple of easy steps, you could be on your way to obtaining the degree and job you have at all times wanted.

Other subject: student loan forgiveness

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Bad Economy Jobs

Bad Economy Jobs