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  • ssa
    06-25 03:28 PM
    You are right, different areas will bottom at different times. But it's relatively easy to judge whether your area has bottomed or not:

    1. Check if the rents and mortgage payments for the comparable properties are similar. Remember to own a house you need to have sterling credit history + come up with 20% down. So your mortgage payment + tax + insurance should at least be equal to rent if not less because you are paying premium in terms of putting 20% down which renters do not have to do.

    2. Bubble began forming around 2000 to 2002 depending on the area. Check past sales prices for comparable homes in the same area around that time because prices back then were still realistic. If the asking price now is same as the price then + 1-2.5% price appreciation per year to adjust for inflation then it's a reasonable price. Ignore the peak around 2005-2006.

    If your purchase price meets both these criteria you know you have a good deal. Go ahead and buy.

    If you have only been reading all the doomsday articles on the net about another nosedive in the realestate market, then I must suggest you to step out and smell the coffee. Other than in a few areas like Detroit and Miami, the home prices are close to stable and are not heading to fall another 10%. When people write articles they want to sensationalize thier reports. What's happening in Detriot will not be happening everywhere in the nation. Real estate markets are very local and cannot be generalized. So anyone that is thinking that there is going to be another HUGE drop in home prices are mistaken.

    Yes, you are right, absolutely no one can time the market. That is why it is a great strategy not to speculate, but go by the fact that real estate prices are affordable now and interest rates are the lowest in recent history. Don't think that just because there was a bubble you'll now get good homes for anything more than 5% discount.

    Remember that you probably have a job in the city you live in, and that you are continually employed, means that there are other people around you with jobs. They are ready to snap up homes even before you get to see it from the inside. I see homes that are in bad shape in my county (Fairfax, VA) sitting in the market for months. But the ones that are good goes under contract in less than a week.





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  • axp817
    03-26 05:15 PM
    We had similar case. It was in 2002. Company was ready to issue another future offer letter. Local USCIS office at Buffalo NY did not agree to continue process. They said job offer is gone the I-485 is gone and has valid reason the denial. They asked my friend to refile I-140 and I-485.

    What ended up happening? Did he refile?

    Also, in that situation, if he had managed to get an offer letter from a third company, would the USCIS have then okayed it?





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  • Marphad
    12-17 03:31 PM
    People:

    I went back and read some of posts from Marphad. "Marphad" hold very Extremist Communal Views not appropriate for this forum. He has given so called "RATIONAL" explanation in SUPPORT of TERRORISTS involved in Gujarat massacres. I think he is holds some rational views and I try to see if I dig his personnel information and inform relevant authorities. He is crying out to be spanked

    I will provide you whatever the information you want ;). I never had one sided communical views. Yes I hate people who directly or indirectly support terrorism. That includes people like Antulay (you are not in that list FYI :)).





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  • logiclife
    07-09 01:11 AM
    Well, we had a good debate on Radio on KPFK today.

    I would like to thank Rajiv Khanna, Stuart Anderson, Carl Shusterman, Ashish and Swadha for participating on this show. Also Aman and Ashish for arranging this with Debo.

    Today, a caller called the show when Debo opened the phone lines and this guy, named Mike, went on and on about how H1B program is similar to slave trade and H1B workers live like insects by piling up 10 people in a one-bedroom apartment and work 100 hours a week for 30 thousand dollars a year bla bla bla.

    Without studying due process, or policy analysis, simply crying "Slave Trade", "H1B stole my job...waaaah...waaah", "H1B replaced me...waaah...waaah", they create good sound bites and play victims.

    Really, H1B program and employment based greencard program, that brings professionals in skilled occupation into this country to fill a shortage of skilled workers has been vindicated beyond limit. And they keep beating the same drums. "They steal jobs". "They drive down wages". They make good soundbites. And they make good quotes for Lou Dobbs.

    Let me say this to Mike and the likes of Zazona.com

    Employers dont just go around spending thousands of dollars on H1B fees and greencard fees to hire a guy with foreign accent if a native citizen was available. And they do not underpay them, because they HAVE to pay prevailing wages based on the wages determined by the Department of labor. If they apply for greencard, then that's because they want him on a permenant basis and there is a another labor certification process for that too, where there are newspaper and other advertisements for the job available to citizens first. Upon not finding a suitable fit, they file for labor certification. And let me remind you all that it takes 2-3 years for department of labor to do that coz they do an exhaustive review of the job offer.

    Go Here on this link of Department of labor (http://ows.doleta.gov/foreign/perm.asp)and read the process for yourself. This system is designed to protect the citizens and IT WORKS.

    Now in a few cases, if there was fraud, then that doesnt mean that the system does not work and should be abolished. Its like saying that we should abolish driving privileges of everyone just because some drivers drive drunk and kill pedestrians. By that token, we must also ground all commercial air travel because sometimes the planes crash and they kill people.

    Another accusation is that H1B employees pay for their own fees sometimes and also for lawyer's fees. And they work like donkeys. Well, not everyone pays for the lawyers. In some rare cases, if the employees hire lawyers, its their own choice, for their own comfort and for their own complicated cases which are many time due to problems of their own making. Why would the employer pay for individuals immigration problems that are not tied to H1B or GC petitions filed by Lawyer? As to working additional hours, its called overtime my dear friend. And they are paid to do that. No one works for free. And no one works for less. If they are paid less than what they think they deserve, then they quit the employer and go to another employer next door who pays them more and treats them fairly.

    And ya, another thing. Biggest subscriber of H1B program, especially since the late 90s has be the IT industry. Unemployment in IT industry is less than 2%. If H1B program is really making life worse, I am sure IT industry unemployment would have been more than national average of 5%.

    And now, let me mention a few slaves and their slave-masters that I am really proud of...

    There are nearly 2000 doctors who are on their path to permenant residency(Green card) in America. They are under Conrad-30 (J1) program. They serve 4 million americans in medically underserved areas. These are rural areas where its hard to find a proper grocery store, let alone a Doctor.

    One of my friends works as a Doctor in Yuma, Arizona. The greencard process for him stalls him for years and years to move to a more desirable area even if he has done his due of serving in rural areas for X amount of years. His process would start over again if the area is no longer medically underserved.

    And then there are nurses, who also make it to America from all over the world on H1B program. Now, if you've ever been to a Hospital, you would know that its not really the most pleasant job in the world. And there is a severe shortage of nurses in America. Even a 5 year old knows this. So by abolishing H1B program and employment based immigration program, you would get rid of the SLAVE nurses too, who work 12-hour shifts on jobs that American born RNA nurses dont accept.

    Such Doctors and nurses are a beacon of hope to 4 million Americans where healthcare is difficult to come by. If such Doctors are slaves, then I am proud of those slaves and their slave masters, and I would love to be either one of them any given day of the week.

    -Have a great weekend-



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  • validIV
    06-05 02:01 PM
    This is your justification for renting? Your 1300 goes to that owners mortgage. You are paying so that he can own the property you live in. I would not be surprised if he has multiple condos renting to others like you.

    Since you cite an example, let me cite one of mine.

    Co-op bought in 2004, Queens NY 2 bedroom: $155,000
    Rented now for $1,350 / month (Wife and I live in another home we also own also in queens)
    Appraised value (Feb 2009) $195,000, Peak market value (my opinion) ~230,000 in 2006 but it seems to be worth more now which is clueless to me.
    Outstanding balance: 60,000
    Current mortgage (15y fixed@4.25): 452 / month (+525 maintenance)
    Monthly cost total: ~1,000
    Comps in area: See for yourself: http://newyork.craigslist.org/search/rea?query=kew+gardens+co-op&minAsk=min&maxAsk=max&bedrooms=2

    Lets say that person is you renting it. You are paying to stay in my unit, pay my mortgage, pay my monthly, allow me to build equity which i just used to buy another property (thank you) and using standard deductions, allowing me to have a healthy tax return from interest paid based on your money. I dont even need to do any math here to prove I am making money from your rent because believe me I am.

    Renters will never understand why owning a home is better than renting as thus they will continue to make arguments to continue doing so. And I'm sure that giving 1 example or 100 examples will not change your mind in the slightest. Which is why you will always be paying owners like me for a roof to live under.

    I doubt it is as clear cut as you make it to be. Rent vs. buy has two components in each option - the monthly cost and the long term saving/investment. Let me take the example of the apartment I live in. It would cost about 360k (I am not considering the closing cost, the cost to buy new appliances and so on when you move in etc) if we were to buy it as a condo in the market. We rent it for $1300.

    Buy:
    Monthly Cost:
    Interest (very simplistic calculation): 5% on 180k on average over 30 years. i.e. $750 per month. After Tax deduction cost ~$700 (you lose on standard deduction if you take property tax deduction - so effective saving is wayyy lower than the marginal tax rate).

    Property Tax: $400 per month.

    Maintenance/depreciation of appliances: assume $200 per month (easily could be more).
    Total: 1300.
    Long term investment: $360k at 3% per annum (long term housing price increase trend).
    You pay for this saving with leverage and $1000 amortization every month for the loan principal.

    Loss of flexibility/Risk : Not sure how to quantify.

    Rent:
    Monthly cost = $1300.
    Long Term Saving (assuming you put the same $1000 every month in a normal high yeild savings account - a Reward Checking maybe) - you will get a risk free 5%.

    So in this case you are paying the same monthly cost for house purchase vs rent. but you are losing out on the additional 2% per month in investment return.

    Plus - buying gets you into a lot riskier position.

    I have seen the proponents of buying fails to take a couple of factors into account:
    1. Real Estate, historically, is not a good investment. It is even worse than the best savings accounts available. And you could easily save your monthly amortization in better savings vehicles.
    2. Tax deduction from interest means you lose on standard deduction. In the above example - a family of 3 with 1 earner will have NO saving from housing tax deduction. They would be better off using the standard deduction. If there are 2 earners - they could try to work around this by filing separately and one taking deduction for housing interest and the other taking the standard deduction. But even that will probably not save you any money since many other tax rates are stacked up against single filers.





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  • mbawa2574
    09-26 11:11 AM
    Though I like Obama as a person who promises positive change, I am afraid this will turn into disaster for all of us. Obama in white house to me translates into 'Curtains' for all legal high skilled immigration.

    If all of you had watched the drama unfolding last year with CIR and Durbin's proposed draconic measures you will all know what is in store for us. We all know who will be pulling the strings as far as immigration policy making goes with democrats in the white house.

    Mccain is good for us as long as he seperates himself from house republicans. Obama is good if he gets rid of that stupid durban.


    Though Mccain is business friendly. There are talks on CNBC and Wallstreet about rebuidling capital in this country and skilled immigration is part of it. I think Michele..I don't know last name wrote an article in Wall Street Journal Today supporting Legal Immigration , innovation and creating demand for housing in this country. It's the protectionist lobby which is screwing the country.



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  • riva2005
    04-09 11:31 AM
    Don't want to sound selfish, but I agree 100% on this. Where I am employed as a scientist, the employer took great pains to show that I have not displaced any American worker. In fact they have a whole file with documents that support this fact. If I move, my new employer will do the same. I am not scared of this provision in the H1B bill. If you are really the best, only then you deserve to get the job, and then you have no reason to fear this bill.

    "I am not scared of this bill". Yeah. you are not scared. You are a scientist. The smart one. Unlike the dumbasses of EB3 here, you actually have something good to offer because you are a Ph.D. A scientist for Godsakes.

    You should really think about supporting IEEE-USA. Maybe you can be friends with Ron Hira. You know, Ron Hira is always looking for H1B friends. Like Stephen Colbert who has a black friends and keeps a black friend just to prove he is not a racist, Ron Hira needs H1B friends.

    Maybe you and other scientists like you and other "US MASTER DEGREE" holders can join hands with IEEE-USA. You guys have a lot in common. Let the stupid EB3 folks and bachelors' degree holders sort out their own mess.

    You are just like those folks who think:

    "As long as I am not affected, I dont care".
    "As long as people behind me in the queue are affected, I dont care".
    "As long as other people lose visas, opportunities, I dont care, because other people's loss has to be my game. Its a zero sum game". If EB3 scum is filtered out by Durbin-Grassley bill, I and my scientist friends can get some breathing room in this crowded queue filled with dumbasses who never bothered to do a Ph.D.

    Nice attitude.
    Really rimzhim, stick to research. I dont think you will ever be a leader and lead in anything.

    I would give kudos to core group and the EB3 dumbass like Aman Kapoor, who, despite having EAD himself is actually sticking up for people who are on H1B and facing the risk of purge by Ron Hira and Chuck Grassley.

    If Aman Kapoor and core group thought like you are thinking, maybe this organization would have never existed.

    So go and spend you precious time with your job, whatever it is that you do that makes you a scientist. This organization is catering to dumbasses on Eb3, and the stupid little bachelor degree holders who arent doing a real job.

    And go and become the "H1B friend" of Ron Hira. That way, Ron can say "Many of my friends are on H1B".





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  • willwin
    07-13 11:21 AM
    Here is my 2 cents worth...

    Pappu, are you saying that whatever initiative that IV has taken now to address recapturing (HR5882), per country limit removal and STEM are GOOD ENOUGH as long as we have mass support and no further effort required?

    Well, If we are not having enough support, I am not sure how much of that we could change.

    What EB3 I wants to accomplish here is to emphasize that we are retrogressed beyond logic, limits and reason.

    What we could probably do is, write a letter describing our plight and also mention in the letter, the IV effort that is underway. By doing this, we can emphasize our situation and at the same time substantiate IV's effort.

    We can come up with agreeable facts that should go in the letter that explains EB3 I plight. IV core can help with this and also proof read and approve final version of the doc. We should stress on date being stuck in 2001. And AC21 not giving a whole lot flexibility to change jobs even with EAD. Like a programmer with 7 years of experience would be eligible to become a PM (if the person has acquired right skills/knowledge/experience) but I am not sure if AC21 allows a person to do that.

    Besides, EAD is not GC. If not, let them announce EAD as temp GC - meaning issuing EAD means GC is approved but the card is not issued owing to number availability - Makes sense? In other words, once EAD is issued the person's GC should not be disapproved. The clock for citizenship should start with I140 approval. That way the applicant will have the peace of mind! And then let DOS/USCIS issue GC at their own pace!!



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  • willwin
    07-13 12:38 PM
    Again - want to continue a healthy debate, but as per the law, EB2 is more skilled than an EB3 and therefore gets precedence regardless of the date. If we split up the spill over 75/25 between EB2 and EB3 then what answer do we have to the more skilled EB2 candidate who did not get a visa number because a less skilled EB3 took the number based on an arbitrary split up (75/25) and because the EB3 has an earlier PD. Does it meet the meritocracy test which is the intent of the law.

    I may sound plain and harsh but thats the categorization as per existing law not my personal opinion.

    Split up of 75-25 definitely covers interest of both parties. I don't think an EB2 with PD 2007 will have grudge over an EB3 PD 2002 getting his/her GC before. As a matter of fact, as you said, looking through the eyes of governance, I don't think it is illogical. EB3 has lower preference as compared to EB2 but not zero preference! So, an EB3 2002 getting his GC before EB2 2007 is not insane, again, per my belief. You cannot say 100-0 is justice - come on!





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  • diptam
    08-05 08:36 AM
    Get Lost 'Rolling_Flood' - you dont understand anything, that's why you started a post like this.

    I'm eligible for EB2 but my employer forcibly filed me in Eb3 category. Now i'm thinking of porting from Eb3 to Eb2 after my 140 gets approved ( By filing a new PERM labor and new 140 of course )

    What's wrong you see in my intentions ? Whats wrong you see in the law ?

    Friend, How many times, you need to know that even job requirements do get rigged by lawyers and employers to accommodate ppl in eb2/eb3 ...and its not jumping the line ...the person has to restart the labor and 140 in order to change the category ...u cant compare it with labor substitution (if u r comparing !!)



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  • sumanitha
    01-07 10:22 AM
    Dude..

    I am not against any religion.. but at the same time when something bad/evil is pointed out in any religion, try to accept it as a part and if you can try to mend it..

    First try to accept thy mistake... then point fingers... (It applies to everyone.. including me)

    Keep barking the same thing again and again. This is not going to make even a small dent on my faith. The more you hate, the more we love our faith.





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  • shanti
    08-11 01:59 PM
    http://www.h1b.info/lca_job_list.php?name=CNN+AMERICA+INC&company=cnn&city=&state=&year=ALL
    Nice to send to Lou :)



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  • nogc_noproblem
    08-06 11:40 AM
    The owner of this drug store walks in to find a guy leaning heavily against a wall.

    "What's with that guy over there by the wall?" ask the owner

    "Well, he came in here this morning to get something for his cough. I couldn't find the cough syrup, so I gave him an entire bottle of laxative." Replied the clerk.

    "You idiot!" Yelled the owner" You can't treat a cough with a bottle of laxatives!"

    "Of course you can!" replied the clerk, "Look at him; he's afraid to cough!"





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  • indio0617
    09-26 11:17 AM
    though its very tempting to support obama with all his elequent talk, I think action speaks louder than words. he has absolutely no history of doing anything in the senate, and has not worked in a bi-partisan way with the republicans to pass any thing. do you think all of a sudden as prez he's going to get things done. further his stance on matters changes as the wind blows. meanwhile mccain has a history of making things happen, even sometimes going against his party. Dem will be more interested in helping the illegals become permanent, and not the legals 'coz their sights are on the vote banks. reps in general are more pro-business, and will favor the legal as opposed to illegals. of course there are some who are against.
    someone pointed out the days were better in the 90's...i do agree that was a period of boom in the us economy with the rise of the dot com companies. but towards the end of the 90's, the dot com going bust, the us economy was heading in recession. and adding to that the rise of other economic powers like china, india, russia, the competition grew intense, and started to hurt the US economy much. However to the credit of the repub prez the SU economy came out from the inital recession, and the overall unemployment % was only ~5.4%, the lower in several decades incl the 90's. I think it was only through the right economic and pro-business policies of this admin that helped in this. of course the wars and the housing bubble has brought us to this new economic situations. It would require the next admin to frame policies that would keep US out of next recession.
    but with dems policies of higher taxes on business (of course higher taxes on you and me), and more govt spending using mine and your tax dollars (of course our ss which we might never see) to hand it out to the lazy, and good for nothing people, you'll def see the US economy going into deeper recession. on top of that the universal health care would see us going the way of CA and europe with health care rationing, and long lines.
    I could go on adding the benefits e.g. favorable deals with india the repubs would bring, but I thinks this is good for now.
    so I would suggest stop going with the age old mentality and blindly believing that the dems are best. Start to think rationally.


    You hit it right on the nail ! Very precisely put. Read between the lines and do not get carried away by 'eloquent' speeches. Deeds are stronger than words. Look at how the democratic agenda is framed. It has never been in favor of business, enterprise or innovation. Putting things into respective Obama & co will suffocate us with all the socialist agenda and stagnating policies.



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  • sk2006
    06-05 02:41 PM
    ...Who would have thought real estate would ever crash ?. At least i never saw this coming and i guess most of those smart investors/economists did not see this coming.


    Infact many SAW it coming..

    In 2005 when every body I knew, was buying houses to avoid being 'Priced out' of the housing market, I too thought of buying. So I started to do some reading on the world wide web. I realized that many bloggers and experts are warning people of the bubble and warning of a hard crash coming and they supported their claims with data!

    Such people were not heard and covered by main stream media like CNN or CNBS channel.

    Most people I know talked to their wives or real estate agents and bought houses.





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  • gc28262
    03-24 12:40 PM
    I have full sympathy for anyone that has not broken any laws including OP and 'leoindiano". If I had the powers to approve green cards, I would give them away to him and his brother!

    The problem here is no one (consulting company/employee) bothered to make sure that a person on H-1B was allowed to do consulting. I'm not sure who dropped the ball - companies, employees, or the immigration lawyers. But someone should have raised a flag when the type of job was really a temp job. Unfortunately that did not happen.

    Now that the damage has been done, and USCIS is coming after such folks, they are upset that it is happening to them. Again, do note that I am not saying the consultants themselves are less skilled than anyone with FT job. I'm just saying that at the time they got into consulting they did not think of the various consequences. Maybe because no one ever thought that working at different locations, benching, temp nature of the jobs were all against H-1B visa rules?

    You get my point?

    sledge_hammer,

    Why don't you define what a "permanent" job is ?
    You think FT job is a permanent job and consulting is a temporary job ? I don't think so.

    There are consultants working for years in a consulting firm. ( Don't bring H1B into the picture) . There are many FT employees being laid off from companies before contractors are let go. Contractors are temporary from a client's perspective not from the sponsoring employer's perspective.

    Try to define a permanent vs temporary job in US without bringing H1B into the picture.



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  • langagadu
    02-12 06:45 PM
    Finally Pak agreed Mumbai terror attacks are partly planned on its soil. I hope they come back after few months and say ISI partly involved.


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  • gomirage
    06-07 01:05 PM
    I don't know where you can find 5% interest p.a. investment today but for the sake of argument that I found one, I think I can't get the $60k at the end of 10th yr.

    The are plenty of no load mutual funds returning consistently above 5% annually return. If you want a zero risk investment you can get at least 3% (sometimes more than 5%) with ING direct, HSBC direct, and many more direct saving accounts. Last year HSBC offered 6% to compete with ING's 5%, while on the other side house prices were nose diving.

    So my point is even at 3%, zero risk it's a good deal compared with gambling on a house that may never come back to original purchase price, in our life time.

    Remember, this is not a one time event. This crisis has changed the world for ever. There will never ever be banks giving loans for more than 3 or 4 times income. So for prices to come back again, you are really banking on disposal income levels going up, which is not a safe bet, with the Indias and Chinas of the world proving very competitive offshore services.

    This whole chaos was created in the first place by inflating the economy to find a solution to the dot com bust.

    Again, we are not recommending against buying a house, which everyone should do at a point in our lives, but it's unsafe to bank on it, as a sound investment.





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  • dontcareanymore
    08-05 02:16 PM
    Good points, but let me put a counter argument. Two people , one is named SunnySurya and the other is named Mr XYZ. Both came to the USA at the same time in 1999. The difference was SunnySurya came here for his masters and the other guy came here through shady means.

    Mr XYZ was able to file his green card in 2002 in EB3 category based on his shady arrangements with his employer, whereas Mr SunnySurya continued to do right and socially acceptable things i.e. studied, got a job and then after several years this big company filled his green card in EB2 category in 2006.

    On the other hand after strugling for several years Mr. XYZ has collected enough years on his resume to be elligible for EB2. Now he want to port his PD

    SunnySurya's PD is 2006 and Mr. XYZ PD is 2002. Now if Mr. XYZ want to stand in EB2 line, I wonder what problems SunnySurya can have???:confused:

    And let me add another twist to the story.

    The Guy with Masters degree is working with a desi sweatshop and convinced his masters (No pun) to file for Eb2 even though his job duties were just dish out code like a high school grad can do. On the other hand there was another guy who was in US for a decade , gone though masters degree and got a very good job in a very good company. He was eligible for EB2 but his only mistake was to not force the company to file a EB2 case or even worse his lawyer makes a mistake and files under Eb3 even though the job he was in and he are qualified as Eb2. The company wants to make amends now by filing a EB2 case and first MS guy (sweatshop guy) wants him to start again and wait for another decade.

    The kicker : The sweat shop labor guy works in the same company as contractor and reports to the second guy and in the same reporting chain, just two levels below him.



    How about another story :

    Both guys go to the same engg school back home. One guy passed with distinction and got a job immediately in a respectable company immediately. Other guy takes two additional years to finish the degree , but his dad was rich enough to send him to the US to complete the MS and now he thinks he is smarter than every one else and needs a special place in the queue.


    You can come up with 100s of stories if not more. Therefore you can't generalize. Just don't think all those who filed under EB2 first are with MS and smarter than others and all those who are Eb3 are here by shady means.





    jonty_11
    07-09 01:49 PM
    Just follow the law. There are lots of protections in it for us.
    Related question - if your I94 is expiring say 8/11/2007 and ur H1 is still valid until 11/11/2009; do you have to renew the I94..while in the US (given that you are not travelling outside US)

    The H1B does have a I94 at the bottom corner with 11/11/2009 as Exp Date.





    gcbikari
    08-11 04:58 PM
    Where is lesson 2?


    Lesson 2:

    A priest offered a Nun a lift. She got in and crossed her legs, forcing her gown to reveal a leg. The priest nearly had an accident. After controlling the car, he stealthily slid his hand up her leg.
    The nun said, "Father, remember Psalm 129?"
    The priest removed his hand. But, changing gears, he let his hand slide up her leg again.
    The nun once again said, "Father, remember Psalm 129?"
    The priest apologized "Sorry sister but the flesh is weak."
    Arriving at the convent, the nun sighed heavily and went on her way.
    On his arrival at the church, the priest rushed to look up Psalm 129 It said, "Go forth and seek, further up, you will find glory."

    Moral of the story
    If you are not well informed in your job, you might miss a great opportunity.



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