Invest in corporate America. Just don't work there
http://www.usnews.com/usnews/biztech/articles/060318/18corporate_newman.htm
While big U.S. firms like Microsoft, Accenture, and EDS are
taking on modest numbers of American workers, their payrolls
are mushrooming in places like India. Corporations closely
guard the details of patent and employment data, but this much
is obvious: American companies are becoming less American.
But there is another important trend, beyond offshoring and
globalization, that many are missing: There's a growing wedge
between U.S. companies and their American employees.
What used to be good for General Motors, so to speak, also
used to be good for the Americans who worked for General Motors.
In many ways (putting labor disputes aside), the interests of
U.S. companies and U.S. workers were closely aligned,
especially when borders were harder to breach and trade
seemed like more of a zero-sum game.
In the old days, of course, the fortunes of companies and
their workers rose and fell in unison; manufacturers laid off
U.S. workers when times were tough and rehired them when
business picked up. But jobs that go overseas are gone forever,
or at least until assembly line workers and engineers in
China and India start to earn the same as their American
counterparts. And that's not going to happen before the
unemployment insurance runs out.
Companies exist to make money, not to keep people employed.
But U.S. companies can increasingly make money while bypassing
American workers. "The fate of U.S. workers is no longer part of
corporate decision making," says Hira.
That sounds ominous, yet for Americans with the energy to get off
the couch and pay attention, it's an opportunity. Those who are
creative, entrepreneurial, well educated, and able to consistently
learn the latest skills will thrive.
But if you have the choice, it's probably better to be a stockholder
of corporate America than an employee.
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Rose: Why is Onslow reading the Financial Times?
Onslow: I like to keep an eye on the economy.
A bloke in my position has to wonder how long
the country can afford him. If we don't get
the economy right, people like me are gonna be
in trouble!
- Keeping Up Appearances
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