Wellā¦heās pissed off the 1% and Wall Street types that think these visas are the best thing since sliced breadā¦I wonder how heāll try to squirm out of this oneā¦didnāt he just hold some bogus technology summit with the heads of the big IT companies? Oh wellā¦I guess Iāll be āin demandā for the next 4 years while Rome burnsā¦
H-1B visas for other staffing needs, such as waiters, maids and groundskeepers at Grift-a-Lotto, will continue apace to ensure that critical infrastructure are not adversely impacted.
Agricultural workers at sites of great cultural interest, such as Trump Winery in Virginia, will likewise see no effect on its function or output.
Donāt forget Eastern European trophy wives! Gotta keep that specialty occupation filled.
Great news for coal miners. They can take courses at Trump University then get those those high paying jobs.
Itās ok, itās ok.
Iām fairly certain Trump University is cranking out computer programmers with the same level of excellence as Liberty University attorneys.
The coal miners graduating from Trump University will most likely be better than some of the H-1 visa holders I have had the misfortune of having to deal with, and clean up after.
Itās a good thing large multi-national companies in the tech sector are limited to utilizing workers physically performing their tasks on U.S. soil. God forbid they develop methods for such foreign citizens to produce what they need via some sort of interconnected electrical magic.
here ya go
Job losses are mostly from technology. New companies just donāt need many people in them. From Barronās this week:
āWorking-class Americans blame manufacturing job losses on trade,ā Ablin writes, when āa bulk of the evaporation came from technology.ā Technology is quickly changing our livesāit took the telephone 75 years to reach 50 million users, and Facebook (ticker: FB) just 3.5 years to pull off the same feat. Yet tech giants hire far fewer people. The market cap per employee is about $21.8 million for Facebook, $5.4 million for Apple (AAPL), and just $248,000 for Ford Motor (F).
āDamn them robotsā
This will also effect the oil industry & possibly the defense companies.
A good number of engineers come in on these Visaās.
Just one more chapter in Trumpās next book, How to Alienate Friends and Fail to Influence People. As much as it pains me to type this, if this is real, itāa a good thing. The H1B program has been rife with abuse and corrupted pretty much from the time it was instituted. Employers will simply lobby their bought-and-paid for legislatures to figure out more loopholes, Iām sure. These are meant to be temporary positions, which actually end up being āindentured serviitudeā with the dangling carrot of permanent residency and an excuse to underpay workers. Fraud and abuse are just icing on the cake, but I doubt that this āAdministrationā will actually do anything to alleviate the problems.
Yet tech giants hire far fewer people. The market cap per employee is about $21.8 million for Facebook, $5.4 million for Apple (AAPL), and just $248,000 for Ford Motor (F)
The conclusion may or may not be true, but using market cap for this is flawed logic. Market cap reflects what the market thinks the companyās future prospects are as stock price per earnings per share, not current profits, nor past investment that went into generating those profits. Ford (F) has a P/E of 10, while Facebook (FB) has a P/E north of 40. You canāt compare these companies based on market cap.
This is actually a somewhat complex calculation because you need to somehow compare both revenue and margins of companies from different industries and with differing maturities. Additionally, companies such as Ford benefit from tech, which they leverage to create new features, jobs, and business opportunities throughout the automotive ecosystem. Take away that tech and you damage a whole bunch of businesses and diminish job prospects in the automotive industry.
Just so weāre clear: if H1B visas for tech become few and far between, the alternative wonāt be to hire more Americans. Anyone who thinks that is seriously deluded. Perhaps the WWC in middle America thinks this is just payback for losing thei rjobs in manufacturing.
Meanwhile Trump wants to trash CAFE standards that encourage innovation and development of alternative fuel powered vehicles. Weaning us off dependence for oil from other nations, along with avenues for new employment in green powered transportation, falls by the wayside. I guess making fun of Prius drivers is more fun for the auto workers than securing their futures.
True. Cons always refer to environmental regs as ājob killersā when the truth is that tech to reduce pollution (and to improve fuel efficiency) creates jobs. Not only that, but meeting these higher standards enables U.S. manufacturers to sell overseas in markets that value these benefits.
Cāmon, Steviedee, youāre not expecting logic or consistency from this administration, are you?
Well, consistency on anything other than the grift, that is.