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Saturday, July 9, 2011

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  • Better_Days
    12-28 03:28 AM
    Since more than a few hours have past since this thread was started, I can think that we can sleep in peace knowing that there won't be a war.

    Having said that, I am startled at the number of Indians who seem to be sold on the idea that war is the answer. I went over to an Indian friend of mine and was shocked at the type of coverage. It seemed so much like the US media before the Iraq invasion.

    Exactly what will India accomplish by squandering away the economic clout it has gathered? Yes India is a regional power and probably an emerging global power. Yes, in a long drawn out conflict, Indian will probably win. Happy now? But at what price? PLEASE, Indian is no US and Pakistan in no Iraq.


    Pak has nukes, but their delivery mechanism is not sound and before Pak launches any nukes, US will disarm them and even if a few are launched India had a very good anti missile shield which will intercept and destroy all warheads before it enters Indian air.


    What I need to know is that what %age of Indian population believes this and the whole "Chinese-made" nuke crap? Is it being spewed out on TV by arm-chair generals and defense analyst? This will explain why everyone is sold on the whole War idea. And this after the debacle that US finds itself in Iraq and Afghanistan?

    Does anyone understand the concept of a nuclear doctrine? I have been out of it for a while and I don't think that Pakistan has published its nuclear doctrine but it has been speculated upon. The general consensus is that, at least initially, Pakistan will use the nukes on its own territory. Both as a means to inflict casualties on advancing Indian troops and as a means of area denial as neither army is equipped to fight large scale battles in a NBC (Nuclear, Biological, Chemical) theater. Forget Pakistan but do you have any idea what the fallout do to the fertile agricultural land in India? And this is not even considering that the Pakistani leadership may decide to go down in a blaze of glory and launch strategic strikes against major population centers.

    War is no answer and should not (and probably will not) happen.

    Disclaimer: I am a Pakistani. While I am in IT, at one point in time I was considering a career in Strategic Studies and was serious enough that I started applying at various colleges. Had to drop the idea as I could not secure funding.





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  • Macaca
    05-27 06:05 PM
    The Audacity of Chinese Frauds (http://www.nytimes.com/2011/05/27/business/27norris.html) By FLOYD NORRIS | The New York Times

    To pull off a fraud that humiliates the cream of the global financial elite, you need to have some friends. And where better to have them than at the local bank?

    The fraud at Longtop Financial Technologies, a Chinese financial software company, was exposed this week in an amazing letter from its auditors, Deloitte Touche Tohmatsu. It appears to be a tale of corrupt bankers and their threats to auditors who had learned of the lies.

    Deloitte, which had given clean audit opinions to Longtop for six consecutive years, apparently was well on its way to providing a seventh, for the fiscal year that ended March 31. But for some reason � Deloitte did not say why �the auditor went back to Longtop�s banks last week to again seek confirmation of cash balances.

    It appears Deloitte sought confirmations from bank headquarters, rather than the local branches that had previously verified that Longtop�s cash really was on deposit. And that set off panic at the software firm.

    �Within hours� of beginning the new round of confirmations on May 17, the confirmation process was stopped, Deloitte stated in its letter of resignation, the result of �intervention by the company�s officials including the chief operating officer, the confirmation process was stopped.�

    The company told banks that Deloitte was not really the auditor. It seized documents, Deloitte wrote, and made �threats to stop our staff leaving the company premises unless they allowed the company to retain our audit files.�

    Despite the company�s efforts, Deloitte learned Longtop did not have the cash it claimed and that there were �significant bank borrowings� not reflected in the company�s books.

    A few days later, Deloitte said, Longtop�s chairman, Jia Xiao Gong, told a Deloitte partner that there was �fake cash recorded on the books� because there had been �fake revenue in the past.�

    The stock has not traded since that confrontation. The final trade on the New York Stock Exchange was for $18.93, a price that valued the company at $1.1 billion. At its peak in November, it had a market capitalization of $2.4 billion.

    It now seems likely that the stock is worthless. It is a real company, but its revenue and profits probably were a small fraction of the amounts reported. The existence of the �significant� debt means that whatever assets are left are likely to be owned by the banks, not the investors.

    Deloitte may have decided to check the numbers again because it knew a growing group of bears on the stock had been challenging the Longtop story as too good to be true, questioning both its financial statements and the claims it made for its software. A month earlier, Deloitte resigned as the auditor of another Chinese company, China MediaExpress, in part because of questions about bank confirmations.

    It is never good for an auditor to have certified a fraud, but Deloitte seems to have acted properly. It got bank confirmations, and it got them directly from the banks rather than relying on the company to provide them, as PricewaterhouseCoopers had done when it failed to notice a huge fraud at Satyam, an Indian technology company.

    But the confirmations were lies.

    �This means the Chinese banks were in on the fraud, at least at branch level,� says John Hempton, the chief investment officer of Bronte Capital, an Australian hedge fund. He was one of the bears who questioned Longtop�s claims and now stands to profit from the stock�s collapse.

    �This is no longer a story about Longtop, and it is not a story about Deloitte,� he added. �Given the centrality of Chinese banks to the global economy, it�s a story much bigger than Deloitte or Longtop.�

    The Securities and Exchange Commission has started an investigation, and no doubt more details will emerge, including the names of the banks involved. Just what, if anything, Chinese officials choose to do could provide an indication about whether defrauding foreign investors is deemed to be a serious crime in China.

    Fraud in Chinese stocks is not new. But it had seemed that the worst problems were in small companies without Wall Street pedigrees. Many of the fraudulent companies went public in the United States by the reverse-merger shell route, a course long favored by shady stock promoters. That route allowed companies to start trading without going though a formal underwriting process or having its prospectus reviewed by the S.E.C. And many used tiny audit firms based in the United States that seemingly did little if any work.

    What is stunning about Longtop and some other recent disasters is the list of smart people who were fooled.

    Longtop did not go public through a reverse merger. Its initial public offering, in 2007, was underwritten by Goldman Sachs and Deutsche Bank. Morgan Stanley was a lead manager in a 2009 offering of more shares. Major owners of the stock included hedge funds run by people known as �tiger cubs� because they got their start at Julian Robertson�s Tiger Fund.

    On May 4, only a couple of weeks before the fateful struggle at Longtop offices, an analyst for Morgan Stanley, Carol Wang, wrote:

    �Longtop�s stock price has been very volatile in recent days amid fraud allegations that management has denied. Our analysis of margins and cash flow gives us confidence in its accounting methods. We believe market misconceptions provide a good entry point for long-term investors.�

    By then, Longtop officials had begun to scramble. According to its last audited balance sheet, cash accounted for more than half of Longtop�s $606 million in assets. Bears were asking why the company needed all that cash and were questioning whether it existed.

    In mid-March, just after the fraud at China MediaExpress was exposed, Longtop announced plans to put some of the cash to use by spending up to $50 million to repurchase its own shares. On April 28, the company tried to assure analysts that the fraud claims were bogus. Derek Palaschuk, a Canadian accountant who served as the company�s chief financial officer, wrapped himself in Deloitte�s prestige, saying that those who questioned Longtop were �criticizing the integrity of one of the top accounting firms in the world.�

    �For me,� he said, �the most important relations I have other than with my family, my C.E.O., and then the next on the list is Deloitte as our auditor, because their trust and support is extremely important.�

    Mr. Palaschuk had an explanation for why the company had not repurchased any shares. It had some very good news that it had not yet released, and �we were advised by our securities counsel that we should not be in the market purchasing our own shares in the event that this would be considered insider trading.�

    Longtop is not the only Chinese fraud that caught prominent Americans. Starr International, an investment company run by Hank Greenberg, the former chairman of American International Group, invested $43.5 million in China MediaExpress and had a representative on the company�s board. Starr has filed suit in Delaware against the company and Deloitte.

    Goldman Sachs was not the underwriter of ShengdaTech, a Chinese chemical company traded on Nasdaq, but its investment arm, Goldman Sachs Investment Management, had accumulated a 7.6 percent stake in the company before its auditor, KPMG, refused to sign off on the company�s 2010 annual report and then resigned in late April. KPMG cited �serious discrepancies� regarding bank balances and �discrepancies between KPMG�s direct calls to customers and confirmations returned by mail.� Just as at Longtop, it appeared that auditors had been given false confirmation letters.

    In each of those three cases � Longtop, China MediaExpress and ShengdaTech � the auditors discovered discrepancies, but only after signing off on financial statements. That was not the case in this year�s other � and perhaps most embarrassing � resignation by a Big Four auditing firm.





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  • Macaca
    12-27 07:32 PM
    But they got no answers out of me�a total failure. Officer Xu, while asking me questions, kept kicking my legs. I said, "Be a little more civilized!"

    Then he said, "So what if I act like this, what can you do! In other matters I will actually still be afraid that someone might complain. But you here, you are an enemy. We can beat you and swear at you and if you complain, it will be useless even if you complain to the Ministry of Public Security!" I thought, this little police officer is younger than 30, how is he so well versed in the Maoist doctrine of the "contradiction between the enemy and us"?

    A tall plainclothes officer was getting impatient and said loudly to Officer Xu: "Why waste words on this sort of person? Let's beat him to death and dig a hole to bury him in and be done with it. How lucky we've got a place to put him away here." Turning to me, he said, "Think your family can find you if you're disappeared? Tell me, what difference would it make if you vanished from Beijing?" Later he whispered to Officer Xu, "Put him away in the hotel!" I could not hear clear what hotel he meant, but from the context I assumed he was referring to that "place to bury you."

    I knew they were not just joking, and I felt like a small ant that could be annihilated any moment without a trace. And yet I was not that scared. For one thing, I had already sent out a message on the Internet, and for another, they had by that time also taken my ID card out of my bag and realized that I was a teacher at the China University of Politics and Law.

    This special status was the reason why I was not beaten more severely, and why they did not "dig a hole to bury me." And it is true: I had disclosed this information to the police officers, albeit half-consciously, to avoid being beaten more severely. If it had not been for my status as a teacher at CUPL, a doctor with a degree from Peking University, a famous human rights lawyer, a visiting scholar at Yale, could I still have shown as much courage? I very much doubt it.

    I felt ashamed of my status and the differential treatment I was enjoying on account of them. I even felt that if the police didn't succeed in burying me they would vent their rage against some other disobedient person. Any pain that I was being spared was sure to be inflicted on another, more helpless victim at some point.

    How much terror, humiliation and despair do ordinary people suffer who get locked up in police stations, re-education through labour camps, investigation detention cells, custody and repatriation cells, and black jails in the face of a bunch of police officers who regard a person's life like a blade of grass and treat ordinary people as foes? Police officers across the country threatening to "beat you to death and dig a hole to bury you," how many people do they actually beat to death or beat until they are disabled?

    It was almost midnight when the Beijing Municipal Public Security Bureau sent round some officers who said they wanted to take me away. They returned my glasses, mobile phone and other things. I told them that I would only leave together with the friend who had been detained with me.

    After some more argument, they led me and Mr. Zhang to a car. Someone called my name, and I immediately recognized some netizens. I could not get out of the car but I shook hands with them through the window. Later I learned that many others had also rushed to the scene. An unknown number of netizen friends had expressed support on the Internet and passed on the news. Maybe that is the main reason why we were so quickly released.

    On the way back home, a Beijing state security officer complained to me, "If everybody fought with them using your methods, the police would have no way of continuing their work! How many fewer common thieves they'd be able to catch!"

    I replied, "If the law-enforcers don't act in accordance with the law, what use are they really to citizens? Police should catch thieves, but can those who 'beat you to death and dig a hole for you' still be called 'police'? If people are fighting each other using my methods, maybe fewer common thieves will be caught, but fewer citizens will be beaten to death in police stations. In which of these two situations are society's losses greater?"

    Mr. Teng is a professor of law at China University of Politics and Law


    The Challenges China Faces (http://asiasentinel.com/index.php?option=com_content&task=view&id=2892&Itemid=422) By John Berthelsen | Asia Sentinel
    China�s Attitude toward Hard Power and Soft Power (http://www.brookings.edu/opinions/2010/12_china_soft_power_jia.aspx) By Qingguo Jia | Peking University
    Computing set to bolster China's industrial prowess (http://search.japantimes.co.jp/cgi-bin/eo20101227a1.html) Sentaku Magazine





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  • ksr
    08-09 07:04 PM
    since u r the primary applicant choose option 1

    Thanks Priti.



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  • msp1976
    04-08 08:17 AM
    The summary document says that Whistleblower protection does not protect immigration status. So the current language of "Whistleblower protection" has much new to offer because Whistleblower protection is already part of the federal law (outside of immigration act). Here is some info:
    http://www.dol.gov/compliance/guide/whistle.htm
    http://en.wikipedia.org/wiki/Whistleblower

    Yeah right....
    If the whistleblower protection does not protect the non-immigrant status, nobody would blow THAT whistle, would they ??
    I am amazed by the kind of circular logic these people concoct....





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  • radhay
    04-08 04:16 PM
    As many have already suggested, location and time frame you have is the key. If you are in an area where there are more jobs being created and population is growing (parts of TX, NC) you should seriously consider buying if you plan to stay there for atleast 3 yrs.
    We are in a period of stagnant income growth for most of the population and increased inflation and hence there is little money left to pay for inflated houses.



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  • pani_6
    07-14 12:51 AM
    This is a long tern strategy...this wont work this year..you have heard that from the Lofgren herself that no legislation would work this year.....we need to pursue this BUT FIRST letter on page 1 would give some immedeate relief to EB-3..which is

    http://immigrationvoice.org/forum/showthread.php?t=20147




    Actually Version 2 is the latest draft:
    http://immigrationvoice.org/forum/showthread.php?p=262392#post262392





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  • chanduv23
    03-24 03:25 PM
    UN,

    I can't help asking this.
    I have been following your posts for a while. I know you are quite knowledgeable in immigration.

    But many of your posts indicate you have a bias against Indians. You seem to be going hard against H1B and saying Indians are screwing H1Bs.

    I like to believe you are unbiased. Please let us know.

    UN is trying to go into the "inner mind" of an USCIS officer and think how they think.

    He is not biased - he has helped a lot of people. He is just asking people to look at the view point from the other side.

    He says - look at illegals, look at family based, look at employers, look at USCIS officers, look at things from every perspective .......

    I keep telling this again and again to all the folks here - not to assume things that suits you just because you feel comfortable - look at things from the other side too. As long as you have followed the law - you have to take legal advice from lawyer.

    Remember - this is a bad time with economy - with job losses - everything may not work for you.



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  • unitednations
    03-26 05:51 PM
    Does this mean that H1B is also location specific?

    There has been no definitive guidance. H-1b is specific to company, candidate with job duties. If there is a "material change" then it should be amended.

    Material change has not been defined in all encompassing ways. it is a gray area whether one needs to amend h-1b for another location. In that particular case; aao seemed to imply that another work location was a material change. There was no follow up after they made the decision. One of the posters who participated on that thread said that he knew that particular person and after that decsion his lawyer showed LCA's and the case was approved.

    However; it still wasn't conclusive of whether that was good enough. Reason being was that the candidates labor was filed in 2000 and he had 245i protection and that in itself would have protected him from his out of status issues; ultimately on that specific case of working on different locations would not have had an impact because he was protected in other ways.





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  • wellwishergc
    07-11 11:48 AM
    Please ignore my previous posting! I saw in one of the earlier postings that you are approved. Congratulations and Best wishes! and welcome back to this forum; Please help us here whenever you can.

    Thanks!
    Is your GC approved now?



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  • richshi
    05-24 09:58 AM
    Lou dobbs is pure anti-immigrants. he has never been an advocate of legal immigrants, he is against H-1B. Now he mentions legal immigrants only to defy the illegals. He is a bad person.





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  • Macaca
    07-08 06:54 PM
    In approving another h-4 visa; they askd h-1b person why they didn't get paid for three month when they entered USA. Company president along with h-1b beneficiary said that he had to climitize himself and then it took a while to get the social security number. Once he got it then he got paid. Visa officer laughed at the explanation and gave the h-4 visa. Six months later; company gets a DOL audit request for possible h-1b violations. DOL officer said that consulate sent them notification that there was h-1b violations.

    Must an H-1B alien be working at all times? (http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=a62bec897643f010VgnVCM1000000ecd190aRCR D&vgnextchannel=1847c9ee2f82b010VgnVCM10000045f3d6a1 RCRD)

    As long as the employer/employee relationship exists, an H-1B alien is still in status. An H-1B alien may work in full or part-time employment and remain in status. An H-1B alien may also be on vacation, sick/maternity/paternity leave, on strike, or otherwise inactive without affecting his or her status.



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  • coolest_me
    12-26 05:40 PM
    Most americans have supported the attack on Afghanistan, where Osama is believed to hiding along with other terrorists. Most americans oppose war on Iraq, only because 100,000 american soldiers have died, Isince the Iraq war began and the economy is in shambles and Iraqis are a drain on the failing economy.




    Can you post the source of this information please. I don't think its anywhere close 100,000. Its somewhere arnd 10000.





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  • nogc_noproblem
    08-07 12:42 AM
    .



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  • dealsnet
    01-10 03:39 PM
    Palestine was never a country. Even historian knows that there was a kingdom of Israel & Kingdom of Judah. The kings and the timeslines when the kingdoms were destroyed are also known. Due to numerous invasions there was a great diaspora of Jews to the other parts of the world. Even Jerusalem belongs to the Jews. The Romans under Titus burned down the Jewsish temple and killed entire tribes of Jews during the Jewish revolt against Rome in AD. 70. The modern state of Israel was in fact simply returing the ancient land of Israel to the Jews. Kashmir belongs to India. Pakistan has occupied Kashmir.





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  • sk2006
    06-06 03:44 PM
    why are all the non-GC-holder desis even debating owning a home?!!
    is that not, like, the most laughable, stupid thing to do?

    what the fu$k!! you dont have a GC, you dont have any job security, you dont have any unemployment/social security, you blow your savings on a house, stocks and houses will take about 4 solid years to get back to where they were (if ever), this country's economy is tanking, there is no love for legal immigrants, we are still only in the middle of this recession (depression?).................aah, what the hell.........

    go buy your american dream you stupid desis...........you get what you deserve.


    Truth: Harshly put.

    In the words of the famous Indian poet Mirza Ghalib:->

    "Mar chuk kahin ki tu Gham-e-Hizran se chhoot Jaye,
    Kahte to hain bhale ki wo lekin buri tarah"

    Translation:
    "Kill yourself and you will get rid of your miseries! Well, what is said is for my good but the way it is said is very bad".



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  • HawaldarNaik
    12-26 07:48 PM
    I like Amma's post, pretty good, well thought out and i stand corrected, in my earlier remarks. Good Post Amma indeed...





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  • HawaldarNaik
    12-26 08:44 PM
    However crude the last statement may sound, it is very effective and 2 the point.
    I now beilive that some world powers are willing to work to gether to get this 'headache' resolved in some way (as most of them have now been bit by it one way or the other....though they were first sympathetic to the cause blah blah.....now they have been stung...so have woken up)
    one thing is certain as i specified above, we have to make sure that we put an end to this..and SOON.....otherwise the horror has just begun and they will really be encouraged to attack again...and this time it could be much worse (as u have seen it has progressively got worse)...so time is running out...
    Even if we target the terror camps, i think most of the world powers will not raise a hue and cry...... for that i must say hats off to our chief ('sardar'...means chief), he has really handled this with a lot of calm and composure at the same time effectively....got the world intelligence agencies to come down and validate what we have all along been saying.....and making the whole investigation transparent to the global powers.......NOW it is the time to act....and NAIL it to the opposite camp.........

    And i used to think he was the best finance minister we had....he has proved me wrong cause he could just end up being the best finance cum prime miinister for me





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  • pmpforgc
    06-08 12:41 AM
    It is very nice discussion.

    I am in process of buying forclosure home in SUWANEE ( Atlanata) area. I based on my survey and research feel that I am getting good deal(175 K price for 2800 sqft, 2004).by th


    Recently interest rates are gone up. Does any one has any idea that it will come down in a week or two due to possible federal intervention to keep houising going further down? can some one point to the relevant articles?

    Also if you know this area and have any reference for the good lenders?

    Also any points to keep in mind while buying foreclosure? apart from routine home inspection, termite inspection etc. Does survey is required for lot and property?

    Also is it good to put higher down payment or not? How much is better to put, assuming no financial constrain. Is it wise to put 20% down or not? Is it wise to purchase points to get interest rates down?

    Thanks for your continuing suggestions and discussions.





    singhsa3
    12-27 10:26 AM
    Macca,
    Our is an adovacy group comprising of only volunteers and with specific agenda. There may be several other Advocacy groups with similar characteristics as ours, agreed they may or may not be immigration focussed. Thus, examples of such Advocay groups that had to lobby to change laws in their favor , overcoming oppositions will help.

    For such advocacy groups , do you have any insights into the following ( Based on your readings or research)?
    a) What such group do to increase active participation of their members?
    b) How such groups are organized?
    c) How the short term and long term goals are developed/identified?
    d) How the leadership pieline for such groups is developed?
    e) Best practices when interacting with other like minded groups, without undermining their own agenda.

    If you would like to discuss on the phone or through e-mail. Thas should be fine with me.
    Thanks
    Singhsa3





    Macaca
    02-13 10:58 AM
    Hires of the Week (http://www.washingtonpost.com/wp-dyn/content/article/2007/02/12/AR2007021201293_2.html)

    After 16 years as chief of staff to Sen. Richard J. Durbin (D-Ill.), Ed Greelegs has joined Kenneth Levine, a veteran Democratic lobbyist, to form Levine & Greelegs, a lobbying firm affiliated with Downey McGrath Group. Durbin is the Senate's second-ranking Democrat.

    Dan Shapiro, former deputy chief of staff to Sen. Bill Nelson (D-Fla.), was hired by Timmons and Company. Shapiro replaces Joab M. "Joey" Lesesne III, who was hired by the media company Cox Enterprises, a Timmons client, as a vice president in Washington.

    Chellie Pingree is stepping down as president of Common Cause after four years to return to her home state of Maine to pursue a possible run for Congress. Executive Vice President Jon Goldin-Dubois will assume Pingree's duties until a permanent successor can be named.

    After the Democratic victories in November -- and facing major railway legislation this year -- Union Pacific, America's largest railroad, has named Thomas "Mack" McLarty, who served as President Bill Clinton's chief of staff, to its board of directors. He joins another former White House chief, Andrew H. Card Jr., who served President Bush, and who became a director last summer.



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