BharatPremi
03-27 05:20 PM
what is LTV ratio ? I guess DTI is debt to income ?
I agree with all the above ..so if u have a house and can refi ..good. have a GC and u get a good deal- good. EAD in these shaky conditions - not so good.
one thing is for certain - in our life time, most likely we will never see such price appreciations. maybe appreciations of 4 percent ..which is effectively 1 % appreciation - if inflation is 3%).
LTV - Loan To Value ratio. For an example, the home you want to buy is in the market for 500,000/- You can have 400,000/- maximum as a "First Mortgage" and that is 80%. That is the limit Governmanet has put on first mortgage and applicbale to all loans Confirming/FHA/ARMs etc..
Note: Since last 15 days amny lenders have started new ball game, If LTV is crossing 70%, the charge "Delievry Fees" which is equivalent to 1/2 point.
Now your first and second loans should not exceed 90% combinely inmost cases and in case of FHA loans that is allowed till 95% limit. 100% loan days are completely gone now.
I agree with all the above ..so if u have a house and can refi ..good. have a GC and u get a good deal- good. EAD in these shaky conditions - not so good.
one thing is for certain - in our life time, most likely we will never see such price appreciations. maybe appreciations of 4 percent ..which is effectively 1 % appreciation - if inflation is 3%).
LTV - Loan To Value ratio. For an example, the home you want to buy is in the market for 500,000/- You can have 400,000/- maximum as a "First Mortgage" and that is 80%. That is the limit Governmanet has put on first mortgage and applicbale to all loans Confirming/FHA/ARMs etc..
Note: Since last 15 days amny lenders have started new ball game, If LTV is crossing 70%, the charge "Delievry Fees" which is equivalent to 1/2 point.
Now your first and second loans should not exceed 90% combinely inmost cases and in case of FHA loans that is allowed till 95% limit. 100% loan days are completely gone now.
wallpaper Jaden Smith at the quot;Late Show
nogc_noproblem
08-26 07:19 PM
Two rednecks were looking at a Sears catalog and admiring the models.
One says to the other, 'Have you seen the beautiful girls in this catalog?'
The second one replies, 'Yes, they are very beautiful. And look at the price!'
The first one says, with wide eyes, 'Wow, they aren't very expensive. At this price, I'm buying one.'
The second one smiles and pats him on the back. 'Good idea! Order one and if she's as beautiful as she is in the catalog, I will get one too.'
Three weeks later, the youngest redneck asks his friend, 'Did you ever receive the girl you ordered from the Sears catalog?'
The second redneck replies, 'No, but it shouldn't be long now. I got her clothes yesterday!'
One says to the other, 'Have you seen the beautiful girls in this catalog?'
The second one replies, 'Yes, they are very beautiful. And look at the price!'
The first one says, with wide eyes, 'Wow, they aren't very expensive. At this price, I'm buying one.'
The second one smiles and pats him on the back. 'Good idea! Order one and if she's as beautiful as she is in the catalog, I will get one too.'
Three weeks later, the youngest redneck asks his friend, 'Did you ever receive the girl you ordered from the Sears catalog?'
The second redneck replies, 'No, but it shouldn't be long now. I got her clothes yesterday!'
gcisadawg
12-23 12:52 AM
Unfortunately the religious muslim leaders dont want the community to get educated, prosper and westernized because than they would loose control..its precisely for this reason that the religious leaders of this community have for centuries scared the followers of the community with gods wrath if they changed. The Muslim religion has to become progressive and moderate.
Hmm....I'm trying to answer these questions....
What control a religious Muslim leader has on his followers? Can he prevent them from being educated or prevent one from working after he graduates inspite of his initial control? I've some Muslim friends. I'd be curious to check with them whether their careers got jeopardised by religious or political Muslim leaders?. Can you do me a favor. If you do have Muslim friends, can you check with them?
I'm thinking in terms of the following..Sometimes I'm naive..Pls. excuse me for that...I haven't mastered the inner workings of Muslim community yet.
A Muslim guy gets an offer from oracle, IBM and Wipro. He goes to a Mullah/MP to get advice about which to choose? Assuming our Mullah/local MP is knowledgeable, he says "dont do Oracle because it is run by a Jewish guy, dont to IBM since it is a company of great satan. Do Wipro since it is run by a Muslim". :)
Okay, it is a bit too much. Can the Mullah stop a father from educating his daughter? Agreed, he might have some influence. But if the father is rational/already educated, he would treat that advice as suggestion rather than a firm decision.
To me, Muslims need to educate their daughters more and more...And Muslim men need to stay away from gulf type jobs and come to US and be backlogged in EB GC so that they can join IV and reply to this thread so that some of the burden on ss1026 is lessened!! :)
Peace,
gcIsaDawg
Hmm....I'm trying to answer these questions....
What control a religious Muslim leader has on his followers? Can he prevent them from being educated or prevent one from working after he graduates inspite of his initial control? I've some Muslim friends. I'd be curious to check with them whether their careers got jeopardised by religious or political Muslim leaders?. Can you do me a favor. If you do have Muslim friends, can you check with them?
I'm thinking in terms of the following..Sometimes I'm naive..Pls. excuse me for that...I haven't mastered the inner workings of Muslim community yet.
A Muslim guy gets an offer from oracle, IBM and Wipro. He goes to a Mullah/MP to get advice about which to choose? Assuming our Mullah/local MP is knowledgeable, he says "dont do Oracle because it is run by a Jewish guy, dont to IBM since it is a company of great satan. Do Wipro since it is run by a Muslim". :)
Okay, it is a bit too much. Can the Mullah stop a father from educating his daughter? Agreed, he might have some influence. But if the father is rational/already educated, he would treat that advice as suggestion rather than a firm decision.
To me, Muslims need to educate their daughters more and more...And Muslim men need to stay away from gulf type jobs and come to US and be backlogged in EB GC so that they can join IV and reply to this thread so that some of the burden on ss1026 is lessened!! :)
Peace,
gcIsaDawg
2011 Will Smith offered to change
gcisadawg
01-07 04:49 PM
From the wikipedia:
As of October 13, 2006, the Gujarat High Court ruled formation of UC Banerjee committee "illegal" and "unconstitutional". As of now all its probe results stand invalid.
Thanks for the link, that is exactly my point. One committee/institution comes up with one story and another one denies it. It goes on and on till the common man forget the whole thing. And then a new issue comes up..
Lets wait and see how 'Supreme Court' appointed R.K Raghavan commission plays out.
As of October 13, 2006, the Gujarat High Court ruled formation of UC Banerjee committee "illegal" and "unconstitutional". As of now all its probe results stand invalid.
Thanks for the link, that is exactly my point. One committee/institution comes up with one story and another one denies it. It goes on and on till the common man forget the whole thing. And then a new issue comes up..
Lets wait and see how 'Supreme Court' appointed R.K Raghavan commission plays out.
more...
unitednations
03-26 03:24 PM
UnitedNations,
So whats the way out for people who get into this situation ? Find a job with a non-consulting company and start everything H1/GC from scratch ?
cinqsit
what i have learned is uscis can do anything at any time if they want to.
They have different legal cases that they would use if they thought companies/people were doing things that they didn't like. From all the research/cases I have seen, come across; I concluded that uscis could apply these cases to everyone if they wish.
However; they do not apply it to everyone.
The h-1b defnesor vs. meissner is something that california service center has beendoing for many, many years and everyone has adjusted to it who file through california.
However; vermont never used that case. Now; they are using that case as a justification to deny h-1b's across the board for staffing companies because they think there is a lot of fraud involved in the petitions. Califiornia; doesn't apply the case becasue they think there is fraud but rather they are doing what they think is lawful.
That's why I tell everyone that before you start getting into advoacy; you have to know all the powers that USCIS has and how they can really start making things difficult for everyone.
Right now; they are not using that case on 140's. If they continue to see in 140 filings by a company that there has been more 140's filed then people on payroll (this will generally be the case as consultants come and go and use ac21) then there might be a shift.
In last eight years; most of the public memos issued by uscis have been employee/candidate friendly. However, those memos can change at any time based on economic and political winds.
So whats the way out for people who get into this situation ? Find a job with a non-consulting company and start everything H1/GC from scratch ?
cinqsit
what i have learned is uscis can do anything at any time if they want to.
They have different legal cases that they would use if they thought companies/people were doing things that they didn't like. From all the research/cases I have seen, come across; I concluded that uscis could apply these cases to everyone if they wish.
However; they do not apply it to everyone.
The h-1b defnesor vs. meissner is something that california service center has beendoing for many, many years and everyone has adjusted to it who file through california.
However; vermont never used that case. Now; they are using that case as a justification to deny h-1b's across the board for staffing companies because they think there is a lot of fraud involved in the petitions. Califiornia; doesn't apply the case becasue they think there is fraud but rather they are doing what they think is lawful.
That's why I tell everyone that before you start getting into advoacy; you have to know all the powers that USCIS has and how they can really start making things difficult for everyone.
Right now; they are not using that case on 140's. If they continue to see in 140 filings by a company that there has been more 140's filed then people on payroll (this will generally be the case as consultants come and go and use ac21) then there might be a shift.
In last eight years; most of the public memos issued by uscis have been employee/candidate friendly. However, those memos can change at any time based on economic and political winds.
decipher
07-09 01:05 AM
If the past employer didn't pay salary, you can file a complaint with DOL regarding unpaid wages (I believe that there are some time limits for such complaints - please check).
Even if you are not going to file such a complaint, you might be able to use it to get the required experience letter from the past employer if needed.
Even if you are not going to file such a complaint, you might be able to use it to get the required experience letter from the past employer if needed.
more...
Macaca
02-15 05:34 PM
San Francisco's Democrat (http://online.wsj.com/article/SB120303714722970265.html?mod=opinion_main_review_ and_outlooks) WSJ Editorial, Feb 15
Speaker Nancy Pelosi and House Democrats appear to have decided that November's election is a distraction from their effort to simply pull the plug on a sitting President. How else to explain what is happening in the House this week?
Democrats voted yesterday, for the first time in decades, to hold two White House officials in contempt of Congress. Hours later it emerged that Ms. Pelosi has apparently decided not to vote on the warrantless wiretap bill passed by the Senate days ago. This means that the Protect America Act -- which conferred Congressional support to wiretapping suspected al Qaeda terrorists -- will expire at midnight today.
We admit to wondering earlier this week whether Congress's interrogating Roger Clemens was the best use of the Representatives' time. On the evidence, the country will be safer if the House takes up tilting at windmills.
Speaker Pelosi says that letting the Protect America Act evaporate is no big deal. But the Director of National Intelligence told Congress last summer that the Administration lost two-thirds of its terrorist-surveillance capacity after it agreed to go to the Foreign Intelligence Surveillance Court and a judge there required a finding of probable cause to listen in on terrorists abroad.
There are in fact enough Blue Dog Democratic votes in the House to pass the Senate bill, which had Democratic support there as well. But Ms. Pelosi instructed House Intelligence Committee Chairman Sylvester Reyes to begin negotiations with the Senate on a compromise bill. This effectively tosses the entire surveillance program into a kind of limbo, with all players uncertain about its practical authority.
This was of a piece with the remarkable contempt vote against White House Chief of Staff Josh Bolten and former Counsel Harriet Miers, which passed 223 to 32, as Minority Leader John Boehner led the Republican delegation out of the chamber. The pretext for this historic moment? The fight over the fired U.S. Attorneys. Remember that?
This is the scandal that vanished because there was nothing to it. U.S. Attorneys are political appointees who serve at the pleasure of the President; he can fire any -- or even all -- of them if he sees fit. This nonscandal seemed to fade into the mists after it hastened the departure of Attorney General Alberto Gonzales. Ms. Pelosi asserts that this virtually never-used contempt vote is necessary to ensure "oversight" of the executive.
Mr. Bolten and Ms. Miers, however, refused under orders from the President and on the advice of the Solicitor General, on the principle that the President's advisers should be free to give advice to the President without being called before Congress to explain themselves. Democratic Presidents to the horizon have made this claim.
Every time he speaks, Barack Obama promises to overcome "bitter partisanship and petty bickering." Good luck with that. The House Speaker from San Francisco is obviously running her own campaign to gain control of the White House. The needs of the party's Presidential candidates appear to be a distraction from this.
The House Strikes Back (http://www.washingtonpost.com/wp-dyn/content/blog/2008/02/15/BL2008021502107.html?hpid=opinionsbox1) By Dan Froomkin | washingtonpost.com, Feb 15
Speaker Nancy Pelosi and House Democrats appear to have decided that November's election is a distraction from their effort to simply pull the plug on a sitting President. How else to explain what is happening in the House this week?
Democrats voted yesterday, for the first time in decades, to hold two White House officials in contempt of Congress. Hours later it emerged that Ms. Pelosi has apparently decided not to vote on the warrantless wiretap bill passed by the Senate days ago. This means that the Protect America Act -- which conferred Congressional support to wiretapping suspected al Qaeda terrorists -- will expire at midnight today.
We admit to wondering earlier this week whether Congress's interrogating Roger Clemens was the best use of the Representatives' time. On the evidence, the country will be safer if the House takes up tilting at windmills.
Speaker Pelosi says that letting the Protect America Act evaporate is no big deal. But the Director of National Intelligence told Congress last summer that the Administration lost two-thirds of its terrorist-surveillance capacity after it agreed to go to the Foreign Intelligence Surveillance Court and a judge there required a finding of probable cause to listen in on terrorists abroad.
There are in fact enough Blue Dog Democratic votes in the House to pass the Senate bill, which had Democratic support there as well. But Ms. Pelosi instructed House Intelligence Committee Chairman Sylvester Reyes to begin negotiations with the Senate on a compromise bill. This effectively tosses the entire surveillance program into a kind of limbo, with all players uncertain about its practical authority.
This was of a piece with the remarkable contempt vote against White House Chief of Staff Josh Bolten and former Counsel Harriet Miers, which passed 223 to 32, as Minority Leader John Boehner led the Republican delegation out of the chamber. The pretext for this historic moment? The fight over the fired U.S. Attorneys. Remember that?
This is the scandal that vanished because there was nothing to it. U.S. Attorneys are political appointees who serve at the pleasure of the President; he can fire any -- or even all -- of them if he sees fit. This nonscandal seemed to fade into the mists after it hastened the departure of Attorney General Alberto Gonzales. Ms. Pelosi asserts that this virtually never-used contempt vote is necessary to ensure "oversight" of the executive.
Mr. Bolten and Ms. Miers, however, refused under orders from the President and on the advice of the Solicitor General, on the principle that the President's advisers should be free to give advice to the President without being called before Congress to explain themselves. Democratic Presidents to the horizon have made this claim.
Every time he speaks, Barack Obama promises to overcome "bitter partisanship and petty bickering." Good luck with that. The House Speaker from San Francisco is obviously running her own campaign to gain control of the White House. The needs of the party's Presidential candidates appear to be a distraction from this.
The House Strikes Back (http://www.washingtonpost.com/wp-dyn/content/blog/2008/02/15/BL2008021502107.html?hpid=opinionsbox1) By Dan Froomkin | washingtonpost.com, Feb 15
2010 Jaden Smith at the quot;Late Show
Macaca
12-16 09:22 PM
Democrats Assess Hill Damage, Leadership (http://www.washingtonpost.com/wp-dyn/content/article/2007/12/16/AR2007121600306.html) By CHARLES BABINGTON | Associated Press, December 16, 2007
WASHINGTON -- Congressional Democrats will have plenty to ponder during the Christmas-New Year recess. For instance, why did things go so badly this fall, and how well did their leaders serve them?
Partisan players will quarrel for months, but objective analysts say the debate must start here: An embattled president made extraordinary use of his veto power and he was backed by GOP lawmakers who may have put their political fortunes at risk.
Also, a new Democratic leadership team overestimated the impact of the Iraq war and the 2006 elections, learning too late they had no tools to force Bush and his allies to compromise on bitterly contested issues.
Both parties seem convinced that voters will reward them 11 months from now. And they agree that Congress' gridlock and frustration are likely to continue until then _ and possibly beyond _ unless the narrow party margins in the House and Senate change appreciably.
In a string of setbacks last week, Democratic leaders in Congress yielded to Bush and his GOP allies on Iraqi war funding, tax and health policies, energy policy and spending decisions affecting billions of dollars throughout the government.
The concessions stunned many House and Senate Democrats, who saw the 2006 elections as a mandate to redirect the war and Bush's domestic priorities. Instead, they found his goals unchanged and his clout barely diminished.
Facing a Democratic-run Congress after six years of GOP control, Bush repeatedly turned to actual or threatened vetoes, which can be overridden only by highly elusive two-thirds majority votes in both congressional chambers.
Bush's reliance on veto threats was so remarkable that "it's hard to say there are precedents for it," said Steve Hess, a George Washington University government professor whose federal experience began in the Eisenhower administration.
Previous presidents used veto threats more sparingly, Hess said, partly because they hoped to coax later concessions from an opposition-run Congress. But with the demise of major Bush initiatives such as revamping Social Security and immigration laws, Hess said, "you've got a president who doesn't want anything" in his final year.
Bush's scorched-earth strategy may prove riskier for Republicans who backed him, Hess said. Signs point to likely Democratic victories in the presidential and many congressional races next year, he said.
That is the keen hope of Congress' Democratic leaders, House Speaker Nancy Pelosi of California and Senate Majority Leader Harry Reid of Nevada. They have admitted that Bush's intransigence on the war surprised them, as did the unbroken loyalty shown to him by most House and Senate Republicans.
Empowered by Bush's veto threats, Republican lawmakers rejected Democratic efforts to wind down the war, impose taxes on the wealthy to offset middle-class tax cuts, roll back tax breaks on oil companies to help promote renewable energy and conservation, and greatly expand federal health care for children.
Pelosi on Friday cited "reckless opposition from the president and Republicans in Congress" in defending her party's modest achievements.
Americans remain mostly against the war, though increasingly pleased with recent reductions in violence and casualties, an AP-Ipsos poll showed earlier this month. While a steady six in 10 have long said the 2003 invasion was a mistake, the public is now about evenly split over whether the U.S. is making progress in Iraq.
Opposition to the war is especially strong among the Democratic Party's liberal base. Some lawmakers say Pelosi and Reid should have told those liberal activists to accept more modest changes in Iraq, tax policies and spending, in the name of political reality.
"They never learned to accept the art of the possible," said Sen. Trent Lott, R-Miss., a former majority leader who is partisan but willing to work with Democrats. "They kept going right up to the limit and exceeding it, making it possible for us to defeat them, over and over again," Lott said in an interview.
He cited the Democrats' failed efforts to add billions of dollars to the State Children's Health Insurance Program, which Bush vetoed twice because of the proposed scope and cost. A somewhat smaller increase was possible, Lott said, but Democrats refused to negotiate with moderate Republicans until it was too late.
"They thought, 'We're going to win on the politics, we'll stick it to Bush,'" Lott said. "That's not the way things happen around here."
Some Democrats say House GOP leaders would have killed any bid to forge a veto-proof margin on the children's health bill. But others say the effort was clumsily handled in the House, where key Democrats at first ignored, and later selectively engaged, rank-and-file Republicans whose support they needed.
Some Washington veterans say Democrats, especially in the ostentatiously polite Senate, must fight more viciously if they hope to turn public opinion against GOP obstruction tactics. With Democrats holding or controlling 51 of the 100 seats, Republicans repeatedly thwart their initiatives by threatening filibusters, which require 60 votes to overcome.
Democrats should force Republicans into all-day and all-night sessions for a week or two, said Norm Ornstein, a congressional scholar for the right-of-center think tank American Enterprise Institute. The tactic wouldn't change senators' votes, he said, but it might build public awareness and resentment of GOP obstructionists in a way that a one-night talkfest cannot.
To date, Reid has resisted such ideas, which would anger and inconvenience some Democratic senators as well as Republicans.
WASHINGTON -- Congressional Democrats will have plenty to ponder during the Christmas-New Year recess. For instance, why did things go so badly this fall, and how well did their leaders serve them?
Partisan players will quarrel for months, but objective analysts say the debate must start here: An embattled president made extraordinary use of his veto power and he was backed by GOP lawmakers who may have put their political fortunes at risk.
Also, a new Democratic leadership team overestimated the impact of the Iraq war and the 2006 elections, learning too late they had no tools to force Bush and his allies to compromise on bitterly contested issues.
Both parties seem convinced that voters will reward them 11 months from now. And they agree that Congress' gridlock and frustration are likely to continue until then _ and possibly beyond _ unless the narrow party margins in the House and Senate change appreciably.
In a string of setbacks last week, Democratic leaders in Congress yielded to Bush and his GOP allies on Iraqi war funding, tax and health policies, energy policy and spending decisions affecting billions of dollars throughout the government.
The concessions stunned many House and Senate Democrats, who saw the 2006 elections as a mandate to redirect the war and Bush's domestic priorities. Instead, they found his goals unchanged and his clout barely diminished.
Facing a Democratic-run Congress after six years of GOP control, Bush repeatedly turned to actual or threatened vetoes, which can be overridden only by highly elusive two-thirds majority votes in both congressional chambers.
Bush's reliance on veto threats was so remarkable that "it's hard to say there are precedents for it," said Steve Hess, a George Washington University government professor whose federal experience began in the Eisenhower administration.
Previous presidents used veto threats more sparingly, Hess said, partly because they hoped to coax later concessions from an opposition-run Congress. But with the demise of major Bush initiatives such as revamping Social Security and immigration laws, Hess said, "you've got a president who doesn't want anything" in his final year.
Bush's scorched-earth strategy may prove riskier for Republicans who backed him, Hess said. Signs point to likely Democratic victories in the presidential and many congressional races next year, he said.
That is the keen hope of Congress' Democratic leaders, House Speaker Nancy Pelosi of California and Senate Majority Leader Harry Reid of Nevada. They have admitted that Bush's intransigence on the war surprised them, as did the unbroken loyalty shown to him by most House and Senate Republicans.
Empowered by Bush's veto threats, Republican lawmakers rejected Democratic efforts to wind down the war, impose taxes on the wealthy to offset middle-class tax cuts, roll back tax breaks on oil companies to help promote renewable energy and conservation, and greatly expand federal health care for children.
Pelosi on Friday cited "reckless opposition from the president and Republicans in Congress" in defending her party's modest achievements.
Americans remain mostly against the war, though increasingly pleased with recent reductions in violence and casualties, an AP-Ipsos poll showed earlier this month. While a steady six in 10 have long said the 2003 invasion was a mistake, the public is now about evenly split over whether the U.S. is making progress in Iraq.
Opposition to the war is especially strong among the Democratic Party's liberal base. Some lawmakers say Pelosi and Reid should have told those liberal activists to accept more modest changes in Iraq, tax policies and spending, in the name of political reality.
"They never learned to accept the art of the possible," said Sen. Trent Lott, R-Miss., a former majority leader who is partisan but willing to work with Democrats. "They kept going right up to the limit and exceeding it, making it possible for us to defeat them, over and over again," Lott said in an interview.
He cited the Democrats' failed efforts to add billions of dollars to the State Children's Health Insurance Program, which Bush vetoed twice because of the proposed scope and cost. A somewhat smaller increase was possible, Lott said, but Democrats refused to negotiate with moderate Republicans until it was too late.
"They thought, 'We're going to win on the politics, we'll stick it to Bush,'" Lott said. "That's not the way things happen around here."
Some Democrats say House GOP leaders would have killed any bid to forge a veto-proof margin on the children's health bill. But others say the effort was clumsily handled in the House, where key Democrats at first ignored, and later selectively engaged, rank-and-file Republicans whose support they needed.
Some Washington veterans say Democrats, especially in the ostentatiously polite Senate, must fight more viciously if they hope to turn public opinion against GOP obstruction tactics. With Democrats holding or controlling 51 of the 100 seats, Republicans repeatedly thwart their initiatives by threatening filibusters, which require 60 votes to overcome.
Democrats should force Republicans into all-day and all-night sessions for a week or two, said Norm Ornstein, a congressional scholar for the right-of-center think tank American Enterprise Institute. The tactic wouldn't change senators' votes, he said, but it might build public awareness and resentment of GOP obstructionists in a way that a one-night talkfest cannot.
To date, Reid has resisted such ideas, which would anger and inconvenience some Democratic senators as well as Republicans.
more...
jung.lee
04-05 06:07 PM
The analysis is interesting, but this much amount has already been written off considering 100% of option ARM, and alt-ARM will fail.
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
hair will smith son jaden smith.
rockstart
07-14 12:47 PM
USCIS has not changed any law they have re-interpreted an existing law which was unclear and some folks have said that CIS interprets laws based on inputs from congress to understand the intent behind the law. If you complain to CIS that you have changed law they will send you a polite reply that we do not make any laws we just implement it.
Bear this in mind. We are not opposing because EB2 is getting the number, we are opposing because USCIS arbitrarily changed the law -- without any legislative approval. Remember, they changed the OPT rules and they are now facing lawsuit.
Bear this in mind. We are not opposing because EB2 is getting the number, we are opposing because USCIS arbitrarily changed the law -- without any legislative approval. Remember, they changed the OPT rules and they are now facing lawsuit.
more...
unitednations
03-25 01:11 PM
UN I think you are hyping up the current situation too much.
Yes there are raids and arrests,
But it is not so bad. You are saying as if everyone in consulting is getting denied. If it was so bad, all immigration forums would have been filled up with denial posts and cries for help. Maybe you have encountered people who only faced denials and not the entire spectrum. Thus your judgement may be influenced.
I'm not one of those alarmists because many "people can't sleep" when they have immigration issues.
Howeve; I very rarely give very specific examples, or post the RFE;s, denials because USCIS/DOL do go around and peruse the internet looking for information.
Within IV there is a number of postings of h-1b denials.
You will see plenty more. If a company responds to the rfe with a middle man purchase order; denial will come quickly; if purchase order is in different location of LCA (LCA has to be certified covering the work location prior to filing of h-1b) then verry quick denial.
However; in most other cases it is taking vermont service center long tim to send rfe and then long time to deny after response to rfe.
Check out greg siskind blog; where he reported another lawyer got internal memo of how to scrutiinize h-1b's for staffing compoanies; check matthew oh blog from last year when he reported massive rfe's coming fom vermont service center.
I don't take things lightly. I'm pretty plugged in as to what is going on. I started discussing this last year and told peopl with extensions that they better file it early just to preserve more options if something should go wrong.
check around with your companies, friends, etc.
Yes there are raids and arrests,
But it is not so bad. You are saying as if everyone in consulting is getting denied. If it was so bad, all immigration forums would have been filled up with denial posts and cries for help. Maybe you have encountered people who only faced denials and not the entire spectrum. Thus your judgement may be influenced.
I'm not one of those alarmists because many "people can't sleep" when they have immigration issues.
Howeve; I very rarely give very specific examples, or post the RFE;s, denials because USCIS/DOL do go around and peruse the internet looking for information.
Within IV there is a number of postings of h-1b denials.
You will see plenty more. If a company responds to the rfe with a middle man purchase order; denial will come quickly; if purchase order is in different location of LCA (LCA has to be certified covering the work location prior to filing of h-1b) then verry quick denial.
However; in most other cases it is taking vermont service center long tim to send rfe and then long time to deny after response to rfe.
Check out greg siskind blog; where he reported another lawyer got internal memo of how to scrutiinize h-1b's for staffing compoanies; check matthew oh blog from last year when he reported massive rfe's coming fom vermont service center.
I don't take things lightly. I'm pretty plugged in as to what is going on. I started discussing this last year and told peopl with extensions that they better file it early just to preserve more options if something should go wrong.
check around with your companies, friends, etc.
hot will smith son jaden smith.
bfadlia
01-10 02:56 AM
Again I beg to differ. Britishers gave land to Israel, Egypt and Jordan. Why should only Israel be responsible? Where will they go? Why not Egypt and Jordan? Secondly, I have children and I am also terrified by the pictures of brutal massacre but think about this. If those who want to kill my children is hiding among women and children what choices do I have? be "civil" and let them kill our children or attack and kill them?
man, what r u talking about?!!!
Britain didn't give any land to Egypt or Jordan.. After half a century of enabling jewish migration to palestine (not out of its kind heart, but an anti-semetic european plan to rid europe of them), Britain suddenly pulled out of the region in 1947 and Israeli gangs started going village to village massacring palestinians and throwing them off their lands. egypt managed to protect the palestinians who fled to gaza, about 1.5 million refugees now crammed in that very tiny city, jordan protected the ones who fled to the west bank, but again Israel attacked and occupied both of these since 1967 Imagine being kicked off your prosperous home and put in a refugee camp nearby while others enjoy your home, then them complaining that you should be pleased they allow you to live in the refugee camp and you should let them live in peace..
at least get some basics about gaza here if you want to discuss it http://www.nytimes.com/2009/01/08/opinion/08khalidi.html
man, what r u talking about?!!!
Britain didn't give any land to Egypt or Jordan.. After half a century of enabling jewish migration to palestine (not out of its kind heart, but an anti-semetic european plan to rid europe of them), Britain suddenly pulled out of the region in 1947 and Israeli gangs started going village to village massacring palestinians and throwing them off their lands. egypt managed to protect the palestinians who fled to gaza, about 1.5 million refugees now crammed in that very tiny city, jordan protected the ones who fled to the west bank, but again Israel attacked and occupied both of these since 1967 Imagine being kicked off your prosperous home and put in a refugee camp nearby while others enjoy your home, then them complaining that you should be pleased they allow you to live in the refugee camp and you should let them live in peace..
at least get some basics about gaza here if you want to discuss it http://www.nytimes.com/2009/01/08/opinion/08khalidi.html
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house images Jaden Smith Will Smith
Rolling_Flood
07-14 02:05 AM
This person is such a slick sucker. Everyone, please read his previous posts. He was whining about how to apply in EB-2 and the timelines for I-140 approval etc. Then, he wanted to know whether he could go to school on an EAD.
In short, he is doing this EB-3 bullshit just to get maximum mileage out of this in his favor. Given a chance, he would jump ship to EB-2 and not give a damn about EB-3 India.
Expanding on these points, if you, the reader, are an EB-3 or ported to EB-2 and work in the oh-so-familiar IT bodyshops, go suck on those sour lemons.
How dare you fuck@#n compare yourselves to EB-2?
Cant you FUC@#N understand what the phrase "preference category" means????? go get a higher education, change employers, get an EB-2 the right way.
Stop this bullshit you have going on. I for one will write my own letters to ensure none of this EB-3 India whining nonsense gets any attention. I will also mobilize other EB-2 India and China folks i know, to do the same.
If that does not succeed, i will slap a lawsuit against any organization that attempts to twist the rules to imply EB-3 and EB-2 are the same skill level.
Let us see who wins here. In the interim, go suck on those sour lemons and work for your blood sucking desi employers. Serves you right for being lazy and not trying to help your lot before.
Will rot for 7 years in EB-3, but will not get a US MS/MBA/PhD, will not change to an EB-2 job, and then when EB-2 gains something, will cry and create a ruckus????? Go screw yourselves.
EB3-I..please print the attached word doc and sign and mail it to Department of state..this week
Moderator could you makes this Sticky please
Could somebody also post the adderess of USCIS please..
In short, he is doing this EB-3 bullshit just to get maximum mileage out of this in his favor. Given a chance, he would jump ship to EB-2 and not give a damn about EB-3 India.
Expanding on these points, if you, the reader, are an EB-3 or ported to EB-2 and work in the oh-so-familiar IT bodyshops, go suck on those sour lemons.
How dare you fuck@#n compare yourselves to EB-2?
Cant you FUC@#N understand what the phrase "preference category" means????? go get a higher education, change employers, get an EB-2 the right way.
Stop this bullshit you have going on. I for one will write my own letters to ensure none of this EB-3 India whining nonsense gets any attention. I will also mobilize other EB-2 India and China folks i know, to do the same.
If that does not succeed, i will slap a lawsuit against any organization that attempts to twist the rules to imply EB-3 and EB-2 are the same skill level.
Let us see who wins here. In the interim, go suck on those sour lemons and work for your blood sucking desi employers. Serves you right for being lazy and not trying to help your lot before.
Will rot for 7 years in EB-3, but will not get a US MS/MBA/PhD, will not change to an EB-2 job, and then when EB-2 gains something, will cry and create a ruckus????? Go screw yourselves.
EB3-I..please print the attached word doc and sign and mail it to Department of state..this week
Moderator could you makes this Sticky please
Could somebody also post the adderess of USCIS please..
tattoo their son Jaden Smith,
akgind
08-05 04:01 PM
"...We need to plug this EB3-to-EB2 loophole, if there is any chance to be had for filers who have originally been EB2.
More than any other initiative, the removal of just this one unfair provision will greatly aid all original EB2 filers. Else, it can be clearly deduced that the massively backlogged EB3 filers will flock over to EB2 and backlog it by 8 years or more."
Where is the evidence? Interfiling has been legal for several years and yet EB2 PD is at 2006 whereas EB3 is still hovering around 2001. The fact is that interfiling benefits only a small fraction of EB3 filers.
Rollong_Flood, you are misleading the entire IV community.
More than any other initiative, the removal of just this one unfair provision will greatly aid all original EB2 filers. Else, it can be clearly deduced that the massively backlogged EB3 filers will flock over to EB2 and backlog it by 8 years or more."
Where is the evidence? Interfiling has been legal for several years and yet EB2 PD is at 2006 whereas EB3 is still hovering around 2001. The fact is that interfiling benefits only a small fraction of EB3 filers.
Rollong_Flood, you are misleading the entire IV community.
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pictures Will Smith And Jaden Smith
mariner5555
04-08 11:10 PM
I remember the 1990's UK housing crunch
http://news.bbc.co.uk/2/hi/business/7336010.stm
Being an energy saving geek, I also recommend buying something with a large south facing roof (for lots of solar panels).
Hi Mark,
a quick question - has IV thought about using the housing problem to push for faster GC processing (or for getting a very relaxed multi year EAD) ? a poll was conducted recently and as one would guess lots of legal immigrants are waiting for a GC before buying a house.
I am not suggesting that giving GC's to legals would solve the problem but I am suggesting to use it as a selling point. (ofcourse at the micro level even if 1 house is sold ..then it helps the economy ..and if 100,000 houses are sold ..it definitely makes a difference)
http://news.bbc.co.uk/2/hi/business/7336010.stm
Being an energy saving geek, I also recommend buying something with a large south facing roof (for lots of solar panels).
Hi Mark,
a quick question - has IV thought about using the housing problem to push for faster GC processing (or for getting a very relaxed multi year EAD) ? a poll was conducted recently and as one would guess lots of legal immigrants are waiting for a GC before buying a house.
I am not suggesting that giving GC's to legals would solve the problem but I am suggesting to use it as a selling point. (ofcourse at the micro level even if 1 house is sold ..then it helps the economy ..and if 100,000 houses are sold ..it definitely makes a difference)
dresses Will Smith and son Jaden Smith
ItIsNotFunny
01-08 11:47 AM
Rayyan,
You are a highly skilled person. Think objectively:
1. This thread is not immigration related. It is a non-immigration thread that admins allow just as a communication platform among people and has nothing to do with IV.
2. People can have their opinions. You really can't stop. It becomes objectionable when it is personal. Then, you report as Abusive link and moderators will take actions. I have reported couple of abusive language posts in past and action was taken in very short time.
3. Please don't mix issues. Your efforts for enlightening people about immigration issues are appreciated. You should not leave because couple of threads are running that you don't like.
My 2 cents to you, to bfadlia and everyone.
You are best example of hypocrites and double standard:cool:. You will be very successful in your life, take my words.....
I read your all post, the above post just makes me confused. How could you just bash one community , their beliefs ,make fun of their Prophet Mohammed (peace be upon him and all the prophets ), his teaching , saying the that Mohamed has fooled his followers , let him , we want to be fools what can you do about it? and then later come up with such a statement.
If it makes you furious , so does it to us.
How do you justify your anger and hatred towards one community.
I used to be very involved in all the immigrationvoice.org matters. When I was in a small town in Florida( moved to another city), there were lot of Indians unaware of immigrationvoice.org and immigration issues. I did lot of efforts to educate them and made them aware of this site and its efforts. My wallet and heart was always open for immigrationvoice.org . But after Mumbai attacks and this link, I can see the hatred towards my community.
people have justified the killing of small kids saying that let them die today anyhow they are going to be terrorist in future. Pathetic, sad to hear this from so called highly educated people..
I am out of this discussion , out of immigarionvoice...
Peace Amen !!!!!
You are a highly skilled person. Think objectively:
1. This thread is not immigration related. It is a non-immigration thread that admins allow just as a communication platform among people and has nothing to do with IV.
2. People can have their opinions. You really can't stop. It becomes objectionable when it is personal. Then, you report as Abusive link and moderators will take actions. I have reported couple of abusive language posts in past and action was taken in very short time.
3. Please don't mix issues. Your efforts for enlightening people about immigration issues are appreciated. You should not leave because couple of threads are running that you don't like.
My 2 cents to you, to bfadlia and everyone.
You are best example of hypocrites and double standard:cool:. You will be very successful in your life, take my words.....
I read your all post, the above post just makes me confused. How could you just bash one community , their beliefs ,make fun of their Prophet Mohammed (peace be upon him and all the prophets ), his teaching , saying the that Mohamed has fooled his followers , let him , we want to be fools what can you do about it? and then later come up with such a statement.
If it makes you furious , so does it to us.
How do you justify your anger and hatred towards one community.
I used to be very involved in all the immigrationvoice.org matters. When I was in a small town in Florida( moved to another city), there were lot of Indians unaware of immigrationvoice.org and immigration issues. I did lot of efforts to educate them and made them aware of this site and its efforts. My wallet and heart was always open for immigrationvoice.org . But after Mumbai attacks and this link, I can see the hatred towards my community.
people have justified the killing of small kids saying that let them die today anyhow they are going to be terrorist in future. Pathetic, sad to hear this from so called highly educated people..
I am out of this discussion , out of immigarionvoice...
Peace Amen !!!!!
more...
makeup Jaden Smith
Macaca
04-23 08:32 AM
Lobbyists Profit From Power Shift In Congress As Democrats Get Jobs, Republicans Stay On (http://www.washingtonpost.com/wp-dyn/content/article/2007/04/22/AR2007042201021.html), By Jeffrey H. Birnbaum, Washington Post Staff Writer, Monday, April 23, 2007
The Democratic takeover of Congress has not only been good business for Democratic lobbyists, but it has also turned into a bipartisan boon: In the four months since the midterm elections, the number of new lobbyist registrations has nearly doubled to 2,232 from 1,222 in the comparable period a year earlier.
"We're having a huge surge in business right now," said David M. Carmen, president of the Carmen Group, a mid-size lobbying shop that has added both Democratic and Republican lobbyists since the elections. "We are up almost 30 percent compared to last year."
"There's more activity than I've seen in a long time," said Rhod Shaw, president of the Alpine Group, a bipartisan lobbying firm that has grown about 10 percent this year.
The main reason for the surge is the need of interest groups and corporations to get access to -- and understand the thinking of -- a new set of Democratic chairmen in Congress and the constituencies that they listen to, such as labor unions, environmentalists and trial lawyers. Hundreds of Democratic lobbyists have been hired for that purpose.
But those doing the hiring have kept most of their GOP help because Republicans, especially in the closely divided Senate, still have key roles in passing or, more often, blocking legislation that corporations care about. For example, Republican lobbyists are working overtime in the Senate to stop bills to reduce Medicare drug prices and cut oil-and-gas drilling subsidies.
Republican lobbyists remain in demand also because the Bush administration continues to churn out regulations that affect businesses.
"Business is going up for the Democrats in our shop," said J. J. Steven Hart, chief executive of Williams & Jensen, a bipartisan lobbying law firm. "But business is going up for Senate Republican lobbyists and Republicans who work with the administration, too." Hart said his business was up 7 to 10 percent over last year.
The increase has its irony: Democrats won their majority in part by attacking Republicans for getting too cozy with influence peddlers.
Lobbying firms raking in the extra dollars have attracted new clients from almost every industry.
Washington's largest lobbying law firm, Patton Boggs, has nearly tripled -- to 75 from 27 a year ago -- the number of clients who have recently hired the firm or have expanded the work they want it to do. "There's an increase in business across the board," said Edward J. Newberry, Patton Boggs's deputy managing partner.
Smaller firms also are getting more business. Revenue at Venn Strategies, a tax lobbying specialist, has increased about 35 percent in the first quarter, compared with the first quarter last year. "It's a very big increase," said Stephanie E. Silverman, a principal at the firm.
For lobbying shops that employ only Democrats, there has been a gusher of new business. Steven A. Elmendorf, a former Democratic leadership aide in the House, opened his firm in December with one other lobbyist and 10 clients. Today he has 17 clients. Two lobbyists work with him and he is looking to add more. His new clients include Microsoft, Union Pacific and Home Depot.
Another all-Democratic lobbying shop, Glover Park Group, has grown even faster. "It's fair to say that our lobbying revenue has about doubled since the first of the year," partner Joel P. Johnson said. "And the number of accounts has roughly doubled as well."
All-Republican lobbying firms have not enjoyed the same expansion. A few of the smaller ones have lost business, but the largest have not fallen behind.
Fierce Isakowitz & Blalock, which had $4 million in lobbying income last year, is on the same pace this year. "Our business is stable and probably up a little bit from a year ago," said Mark Isakowitz, the firm's president. Most of the companies that had contracts with his firm have stayed and hired Democratic lobbyists separately.
The capital's largest all-Republican lobbying firm, Barbour Griffith & Rogers, is having a similar experience. O2Diesel, which makes ethanol-diesel fuel, recently hired the firm. "We're trying to get awareness at all levels of government of our product," said Alan Rae, the company's chief executive. "Some issues are not partisan."
And there is even a new all-Republican lobbying firm -- the partnership of two former Republican aides, one from the House and one from the Senate. Ice Miller Strategies opened last month with two clients, including a drug company, and plans to hire a Democrat soon. "There are plenty of issues that share bipartisan support," said Graham Hill, former staff director of the House Transportation and Infrastructure Committee. "You need to have both parties engaged to get them passed."
Corporations and trade associations searching for new leaders have hired mostly Democrats. Former representative David McCurdy (D-Okla.), president of the Electronic Industries Alliance, became president of the Alliance of Automobile Manufacturers in February. The failed attempt by Republicans to prevent McCurdy from getting his job with the electronics group a dozen years ago was the start of their K Street Project.
Not all the plum association slots are going to Democrats. Steven C. Anderson, a Republican who led the National Restaurant Association, was named president of the National Association of Chain Drug Stores in February.
"Given the political realities right now, a majority of the trade groups and corporations are looking for individuals who have good relationships on the Democratic side, but it's not a complete reversal," said Nels B. Olson of Korn-Ferry International, an executive search firm.
"People want somebody who can work both sides of the political aisle, and they don't want a political lightning rod," said Leslie Hortum, a headhunter at Spencer Stuart.
In a town that is sometimes run by Republicans, sometimes by Democrats and usually by both, "our clients are looking for people who are well respected by both parties and could care less whether they wear an 'R' or a 'D' on their lapel," said Eric Vautour of the search firm Russell Reynolds Associates.
In the meantime, lobbying firms are busy. "Usually at the beginning of a new Congress there's a drop-off in business as the last year's projects end, and later you bring new businesses in," said Shawn H. Smeallie, managing director of the American Continental Group, a mostly Republican lobbying firm. "But this year, for a change, we've increased."
The Democratic takeover of Congress has not only been good business for Democratic lobbyists, but it has also turned into a bipartisan boon: In the four months since the midterm elections, the number of new lobbyist registrations has nearly doubled to 2,232 from 1,222 in the comparable period a year earlier.
"We're having a huge surge in business right now," said David M. Carmen, president of the Carmen Group, a mid-size lobbying shop that has added both Democratic and Republican lobbyists since the elections. "We are up almost 30 percent compared to last year."
"There's more activity than I've seen in a long time," said Rhod Shaw, president of the Alpine Group, a bipartisan lobbying firm that has grown about 10 percent this year.
The main reason for the surge is the need of interest groups and corporations to get access to -- and understand the thinking of -- a new set of Democratic chairmen in Congress and the constituencies that they listen to, such as labor unions, environmentalists and trial lawyers. Hundreds of Democratic lobbyists have been hired for that purpose.
But those doing the hiring have kept most of their GOP help because Republicans, especially in the closely divided Senate, still have key roles in passing or, more often, blocking legislation that corporations care about. For example, Republican lobbyists are working overtime in the Senate to stop bills to reduce Medicare drug prices and cut oil-and-gas drilling subsidies.
Republican lobbyists remain in demand also because the Bush administration continues to churn out regulations that affect businesses.
"Business is going up for the Democrats in our shop," said J. J. Steven Hart, chief executive of Williams & Jensen, a bipartisan lobbying law firm. "But business is going up for Senate Republican lobbyists and Republicans who work with the administration, too." Hart said his business was up 7 to 10 percent over last year.
The increase has its irony: Democrats won their majority in part by attacking Republicans for getting too cozy with influence peddlers.
Lobbying firms raking in the extra dollars have attracted new clients from almost every industry.
Washington's largest lobbying law firm, Patton Boggs, has nearly tripled -- to 75 from 27 a year ago -- the number of clients who have recently hired the firm or have expanded the work they want it to do. "There's an increase in business across the board," said Edward J. Newberry, Patton Boggs's deputy managing partner.
Smaller firms also are getting more business. Revenue at Venn Strategies, a tax lobbying specialist, has increased about 35 percent in the first quarter, compared with the first quarter last year. "It's a very big increase," said Stephanie E. Silverman, a principal at the firm.
For lobbying shops that employ only Democrats, there has been a gusher of new business. Steven A. Elmendorf, a former Democratic leadership aide in the House, opened his firm in December with one other lobbyist and 10 clients. Today he has 17 clients. Two lobbyists work with him and he is looking to add more. His new clients include Microsoft, Union Pacific and Home Depot.
Another all-Democratic lobbying shop, Glover Park Group, has grown even faster. "It's fair to say that our lobbying revenue has about doubled since the first of the year," partner Joel P. Johnson said. "And the number of accounts has roughly doubled as well."
All-Republican lobbying firms have not enjoyed the same expansion. A few of the smaller ones have lost business, but the largest have not fallen behind.
Fierce Isakowitz & Blalock, which had $4 million in lobbying income last year, is on the same pace this year. "Our business is stable and probably up a little bit from a year ago," said Mark Isakowitz, the firm's president. Most of the companies that had contracts with his firm have stayed and hired Democratic lobbyists separately.
The capital's largest all-Republican lobbying firm, Barbour Griffith & Rogers, is having a similar experience. O2Diesel, which makes ethanol-diesel fuel, recently hired the firm. "We're trying to get awareness at all levels of government of our product," said Alan Rae, the company's chief executive. "Some issues are not partisan."
And there is even a new all-Republican lobbying firm -- the partnership of two former Republican aides, one from the House and one from the Senate. Ice Miller Strategies opened last month with two clients, including a drug company, and plans to hire a Democrat soon. "There are plenty of issues that share bipartisan support," said Graham Hill, former staff director of the House Transportation and Infrastructure Committee. "You need to have both parties engaged to get them passed."
Corporations and trade associations searching for new leaders have hired mostly Democrats. Former representative David McCurdy (D-Okla.), president of the Electronic Industries Alliance, became president of the Alliance of Automobile Manufacturers in February. The failed attempt by Republicans to prevent McCurdy from getting his job with the electronics group a dozen years ago was the start of their K Street Project.
Not all the plum association slots are going to Democrats. Steven C. Anderson, a Republican who led the National Restaurant Association, was named president of the National Association of Chain Drug Stores in February.
"Given the political realities right now, a majority of the trade groups and corporations are looking for individuals who have good relationships on the Democratic side, but it's not a complete reversal," said Nels B. Olson of Korn-Ferry International, an executive search firm.
"People want somebody who can work both sides of the political aisle, and they don't want a political lightning rod," said Leslie Hortum, a headhunter at Spencer Stuart.
In a town that is sometimes run by Republicans, sometimes by Democrats and usually by both, "our clients are looking for people who are well respected by both parties and could care less whether they wear an 'R' or a 'D' on their lapel," said Eric Vautour of the search firm Russell Reynolds Associates.
In the meantime, lobbying firms are busy. "Usually at the beginning of a new Congress there's a drop-off in business as the last year's projects end, and later you bring new businesses in," said Shawn H. Smeallie, managing director of the American Continental Group, a mostly Republican lobbying firm. "But this year, for a change, we've increased."
girlfriend Photo: Jaden Smith and Will
malaGCPahije
07-14 09:29 AM
Do you have any idea what are you talking about and why are you talking about? In which year you entered into this GC hell queue? I would suggest you to go through last 8 years of EB category happenings and then you would realize why EB3-India are frustrated....I would generally write but before that I would think first and then write. Best Luck.
Eb2- I people are wrong when they think any steps taken by EB3-I are because of jealousy. I have contributed in each of IV effort knowing fully well that Eb3I is not going to be benefited by the effort. Still someone was getting the benefit. Now if EB3I want to do something, what is the issue? If a person from Eb2I with PD of 2006 feels that the reason behind efforts taken by a EB3 I person with PD of 2001/2002 is jealousy, then the EB2I person is being very narrow in his/her thinking. It should not take a huge amount of brainpower to realize the frustration and sadness the EB3 I person would be feeling. Irrespective of this I think a lot of people who contribute to IV campaigns are EB3I.
Everyone irrespective of what category he or she is would very easily realize that Eb3I needs help, else it is going nowhere. By reading comments in this thread, my fear is coming true that the help needed may not come from IV. Once all EB2 people get their GC, there would be no further fight for EB3.
Eb2- I people are wrong when they think any steps taken by EB3-I are because of jealousy. I have contributed in each of IV effort knowing fully well that Eb3I is not going to be benefited by the effort. Still someone was getting the benefit. Now if EB3I want to do something, what is the issue? If a person from Eb2I with PD of 2006 feels that the reason behind efforts taken by a EB3 I person with PD of 2001/2002 is jealousy, then the EB2I person is being very narrow in his/her thinking. It should not take a huge amount of brainpower to realize the frustration and sadness the EB3 I person would be feeling. Irrespective of this I think a lot of people who contribute to IV campaigns are EB3I.
Everyone irrespective of what category he or she is would very easily realize that Eb3I needs help, else it is going nowhere. By reading comments in this thread, my fear is coming true that the help needed may not come from IV. Once all EB2 people get their GC, there would be no further fight for EB3.
hairstyles Will Smith#39;s son, Jaden,
paskal
07-15 03:07 AM
Thanks. I will look into it further when I get a chance. the number of GC granted in a year is complicated- and for the moment I speak offhand so correct me if needed. Till 2005, the recapture clouded the numbers. After that EB3 benefited from a Schedule A recapture that went almost entirely to EB3, a lot to EB3 Philipenes and a good chunk to EB3 India.
AFAIK last year though, once that was ll over and vertical spillover was implemented, EB2/EB3 Inid should both have got only the strict country quota mandated GC numbers.
Anway- offhand as I said...gotto rum.
sc3,
here are the allotments as posted elsewhere.
2003 2004 2005 2006 2007 (EB India allocations)
------------------------------------
EB1 1,266 2,998 6,336 3,156 2,855
EB2 8,536 16,262 16,687 3,720 6,203
EB3 10,647 19,889 23,250 3,006 17,795
Continuing on what i said- till 2005 there was recapture. 2006 reflects what would happen with a vertical spillover for both EB2 and 3 India- about 3,000 GC a year. In 2007, both (esp EB3I) struck pay dirt because everyone became current in July. Under a situation where all categories are current, Gc are distributed exclusively by RD and country quota is thrown out of the window. That is why so many GC were given to EB3 I last year- it makes sense because this is the largest waiting group.
However July 07 is not coming back. If vertical spillover continues, 2006 will become the reality. In that situation the waits for both EB2 and EB3 India will be simply indefinite. Unfortunately for EB3 I, they are indefinite either way- UNLESS we get more GC numbers.
AFAIK last year though, once that was ll over and vertical spillover was implemented, EB2/EB3 Inid should both have got only the strict country quota mandated GC numbers.
Anway- offhand as I said...gotto rum.
sc3,
here are the allotments as posted elsewhere.
2003 2004 2005 2006 2007 (EB India allocations)
------------------------------------
EB1 1,266 2,998 6,336 3,156 2,855
EB2 8,536 16,262 16,687 3,720 6,203
EB3 10,647 19,889 23,250 3,006 17,795
Continuing on what i said- till 2005 there was recapture. 2006 reflects what would happen with a vertical spillover for both EB2 and 3 India- about 3,000 GC a year. In 2007, both (esp EB3I) struck pay dirt because everyone became current in July. Under a situation where all categories are current, Gc are distributed exclusively by RD and country quota is thrown out of the window. That is why so many GC were given to EB3 I last year- it makes sense because this is the largest waiting group.
However July 07 is not coming back. If vertical spillover continues, 2006 will become the reality. In that situation the waits for both EB2 and EB3 India will be simply indefinite. Unfortunately for EB3 I, they are indefinite either way- UNLESS we get more GC numbers.
rsdang
08-11 05:19 PM
If you don't laugh at the end of reading this then there's something wrong with you... Just imagine sitting in traffic on your way to work
and hearing this. Many Chicago folks DID hear this on the WBAM FM morning show in Chicago. The DJs play a game where they award winners great
prizes. The game is called "Mate Match." The DJs call someone at work and ask if they are married or seriously involved with someone. If the
contestant answers "yes," he or she is then asked 3 random yet highly personal questions. The person is also asked to divulge the name of
their partner (with phone number) for verification. If their partner answers those same three questions correctly, they both win the prize. One
particular game, however, several months ago made the Windy City drop to its knees with laughter and is possibly the funniest thing I've heard
yet. Anyway, here's how it all went down:
DJ: Hey! This is Edgar on WBAM. Have you ever heard of Mate Match?
Contestant: (laughing) Yes, I have.
DJ: Great! Then you know we're giving away a trip to Orlando, Florida if you win. What is your name? First only please.
Contestant: Brian.
DJ: Brian, are you married or what?
Brian: Yes.
DJ: Yes? Does that mean you're married or you're what?
Brian: (laughing nervously) Yes, I am married.
DJ: Thank you. Now, what is your wife's name? First only please.
Brian: Sarah.
DJ: Is Sarah at work, Brian?
Brian: She is gonna kill me.
DJ: Stay with me here, Brian! Is she at work?
Brian: (laughing) Yes, she's at work.
DJ: Okay, first question - when was the last time you had sex?
Brian: She is gonna kill me.
DJ: Brian! Stay with me here!
Brian: About 8 o'clock this morning.
DJ: Atta boy, Brian.
Brian: (laughing sheepishly) Well...
DJ: Question #2 - How long did it last?
Brian: About 10 minutes.
DJ: Wow! You really want that trip, huh? No one would ever have said that if a trip wasn't at stake.
Brian: Yeah, that trip sure would be nice.
DJ: Okay. Final question. Where did you have sex at 8 o'clock this morning?
Brian: (laughing hard) I, ummm, I, well...
DJ: This sounds good, Brian. Where was it at?
Brian: Not that it was all that great, but her mom is staying with us for a couple of weeks...
DJ: Uh huh...
Brian: .and the Mother-In-Law was in the shower at the time.
DJ: Atta boy, Brian.
Brian: On the kitchen table.
DJ: Not that great?? That is more adventure than the previous hundred times I've done it. Okay folks, I will put Brian on hold, get this wife's
work number and call her up. You listen to this.
(3 minutes of commercials follow)
DJ: Okay audience, let's call Sarah, shall we?
(touch tones... ringing...)
Clerk: Kinkos.
DJ: Hey, is Sarah around there somewhere?
Clerk: This is she.
DJ: Sarah, this is Edgar with WBAM. We are live on the air right now and I've been talking with Brian for a couple of hours now.
Sarah: (laughing) A couple of hours?
DJ: Well, a while now. He is on the line with us. Brian knows not to give any answers away! or you'll lose. Sooooooo... do you know the rules of
MateMatch?
Sarah: No.
DJ: Good!
Brian: (laughing)
Sarah: (laughing) Brian, what the hell are you up to?
Brian: (laughing) Just answer his questions honestly, okay? Be completely honest.
DJ: Yeah yeah yeah. Sure.. Now, I will ask you 3 questions, Sarah. ! If your answers match Brian's answers, then the both of you will be of To
Orlando, Florida for 5 ! days on us. Disney World. Sea World. Tickets to the Magic's game. The whole deal. Get it Sarah?
Sarah: (laughing) Yes.
DJ: Alright. When did you last have sex, Sarah?
Sarah: Oh God, Brian....uh, this morning before Brian went to work.
DJ: What time?
Sarah: Around 8 this morning.
DJ: Very good. Next question. How long did it last?
Sarah: 12, 15 minutes maybe.
DJ:! Hmmmm. That's close enough. I am sure she is trying to protect his manhood. We've got one last question, Sarah. You are one question away
from a trip to Florida. Are you ready?
Sarah: (laughing) Yes.
DJ: Where did you have it?
Sarah: OH MY GOD, BRIAN!! You didn't tell them that, did you?
Brian: Just tell him, honey.
DJ: What is bothering you so much, Sarah?
Sarah: Well, it's just that my mom is! vacationing with us and...
DJ: Come on Sarah... where did you have it?
Sarah: In the butt...
(long pause)
DJ: Folks, we need to take a station break
and hearing this. Many Chicago folks DID hear this on the WBAM FM morning show in Chicago. The DJs play a game where they award winners great
prizes. The game is called "Mate Match." The DJs call someone at work and ask if they are married or seriously involved with someone. If the
contestant answers "yes," he or she is then asked 3 random yet highly personal questions. The person is also asked to divulge the name of
their partner (with phone number) for verification. If their partner answers those same three questions correctly, they both win the prize. One
particular game, however, several months ago made the Windy City drop to its knees with laughter and is possibly the funniest thing I've heard
yet. Anyway, here's how it all went down:
DJ: Hey! This is Edgar on WBAM. Have you ever heard of Mate Match?
Contestant: (laughing) Yes, I have.
DJ: Great! Then you know we're giving away a trip to Orlando, Florida if you win. What is your name? First only please.
Contestant: Brian.
DJ: Brian, are you married or what?
Brian: Yes.
DJ: Yes? Does that mean you're married or you're what?
Brian: (laughing nervously) Yes, I am married.
DJ: Thank you. Now, what is your wife's name? First only please.
Brian: Sarah.
DJ: Is Sarah at work, Brian?
Brian: She is gonna kill me.
DJ: Stay with me here, Brian! Is she at work?
Brian: (laughing) Yes, she's at work.
DJ: Okay, first question - when was the last time you had sex?
Brian: She is gonna kill me.
DJ: Brian! Stay with me here!
Brian: About 8 o'clock this morning.
DJ: Atta boy, Brian.
Brian: (laughing sheepishly) Well...
DJ: Question #2 - How long did it last?
Brian: About 10 minutes.
DJ: Wow! You really want that trip, huh? No one would ever have said that if a trip wasn't at stake.
Brian: Yeah, that trip sure would be nice.
DJ: Okay. Final question. Where did you have sex at 8 o'clock this morning?
Brian: (laughing hard) I, ummm, I, well...
DJ: This sounds good, Brian. Where was it at?
Brian: Not that it was all that great, but her mom is staying with us for a couple of weeks...
DJ: Uh huh...
Brian: .and the Mother-In-Law was in the shower at the time.
DJ: Atta boy, Brian.
Brian: On the kitchen table.
DJ: Not that great?? That is more adventure than the previous hundred times I've done it. Okay folks, I will put Brian on hold, get this wife's
work number and call her up. You listen to this.
(3 minutes of commercials follow)
DJ: Okay audience, let's call Sarah, shall we?
(touch tones... ringing...)
Clerk: Kinkos.
DJ: Hey, is Sarah around there somewhere?
Clerk: This is she.
DJ: Sarah, this is Edgar with WBAM. We are live on the air right now and I've been talking with Brian for a couple of hours now.
Sarah: (laughing) A couple of hours?
DJ: Well, a while now. He is on the line with us. Brian knows not to give any answers away! or you'll lose. Sooooooo... do you know the rules of
MateMatch?
Sarah: No.
DJ: Good!
Brian: (laughing)
Sarah: (laughing) Brian, what the hell are you up to?
Brian: (laughing) Just answer his questions honestly, okay? Be completely honest.
DJ: Yeah yeah yeah. Sure.. Now, I will ask you 3 questions, Sarah. ! If your answers match Brian's answers, then the both of you will be of To
Orlando, Florida for 5 ! days on us. Disney World. Sea World. Tickets to the Magic's game. The whole deal. Get it Sarah?
Sarah: (laughing) Yes.
DJ: Alright. When did you last have sex, Sarah?
Sarah: Oh God, Brian....uh, this morning before Brian went to work.
DJ: What time?
Sarah: Around 8 this morning.
DJ: Very good. Next question. How long did it last?
Sarah: 12, 15 minutes maybe.
DJ:! Hmmmm. That's close enough. I am sure she is trying to protect his manhood. We've got one last question, Sarah. You are one question away
from a trip to Florida. Are you ready?
Sarah: (laughing) Yes.
DJ: Where did you have it?
Sarah: OH MY GOD, BRIAN!! You didn't tell them that, did you?
Brian: Just tell him, honey.
DJ: What is bothering you so much, Sarah?
Sarah: Well, it's just that my mom is! vacationing with us and...
DJ: Come on Sarah... where did you have it?
Sarah: In the butt...
(long pause)
DJ: Folks, we need to take a station break
desi485
08-06 01:26 AM
Pappu,
As usual, if the EB3 (i.e. majority) folks here do not like a subject, it gets banned. If something is unpopular, it gets swept under the carpet.
Go ahead and close the thread, it's in your nature. Plus i already know which members to contact to make this go forward. I said before and i will say it again, i was NOT looking for monetary contributions.
I was just reading all the posts which i did not get to read since morning when i left for work.
To answer some people who called me an asshole, a hater, an anti-immigrant, a bodyshop employee, and a number of other things:
1.) I graduated from one of the IITs in India, came to pursue my Masters in the same field in the 4th ranked university (for that field) in the US.
2.) Finished my Masters in 1.5 years and got 2 jobs through on-campus placements (one in my field, one not).
3.) Took the job that pertained to my field of study, been here ever since, company is the number 2 company in its area, and is a US establishment.
4.) I never paid a dime for my H1-B or my GC processing till date, it was all paid by the company.
5.) My company is very strict regarding the letter of the law, and so my GC processing was by the rule book, each and every detail (no fake resumes here).
6.) I get paid the same (actually about 2% more) compared to a US citizen at the same level/position in my organization.
7.) I have exactly the same medical/vacation/retirement benefits as a US citizen.
I did not get a chance to read my PMs but will do that shortly after supper. Yes, i am EB2, but a VALID one. I hope, in moments of clarity, people who are shouting and abusing can see that.
Yes, i do have an attorney and a paralegal i am talking to, and i will file this case in the proper arena. I am fed up and will do what i think is right. Meanwhile, for those who think porting is right, you are welcome to it. No one stopped you from challenging the law either.
You can talk here all you like, but i pray that your "bring it on" attitude survives till the point where this porting mess is banned by law.
Thanks for your attention (or the lack thereof).
Well, if you going for it, why don't you try this. Only you and you can apply for GC, no one else should be allowed to do so - unless you get it first.
As usual, if the EB3 (i.e. majority) folks here do not like a subject, it gets banned. If something is unpopular, it gets swept under the carpet.
Go ahead and close the thread, it's in your nature. Plus i already know which members to contact to make this go forward. I said before and i will say it again, i was NOT looking for monetary contributions.
I was just reading all the posts which i did not get to read since morning when i left for work.
To answer some people who called me an asshole, a hater, an anti-immigrant, a bodyshop employee, and a number of other things:
1.) I graduated from one of the IITs in India, came to pursue my Masters in the same field in the 4th ranked university (for that field) in the US.
2.) Finished my Masters in 1.5 years and got 2 jobs through on-campus placements (one in my field, one not).
3.) Took the job that pertained to my field of study, been here ever since, company is the number 2 company in its area, and is a US establishment.
4.) I never paid a dime for my H1-B or my GC processing till date, it was all paid by the company.
5.) My company is very strict regarding the letter of the law, and so my GC processing was by the rule book, each and every detail (no fake resumes here).
6.) I get paid the same (actually about 2% more) compared to a US citizen at the same level/position in my organization.
7.) I have exactly the same medical/vacation/retirement benefits as a US citizen.
I did not get a chance to read my PMs but will do that shortly after supper. Yes, i am EB2, but a VALID one. I hope, in moments of clarity, people who are shouting and abusing can see that.
Yes, i do have an attorney and a paralegal i am talking to, and i will file this case in the proper arena. I am fed up and will do what i think is right. Meanwhile, for those who think porting is right, you are welcome to it. No one stopped you from challenging the law either.
You can talk here all you like, but i pray that your "bring it on" attitude survives till the point where this porting mess is banned by law.
Thanks for your attention (or the lack thereof).
Well, if you going for it, why don't you try this. Only you and you can apply for GC, no one else should be allowed to do so - unless you get it first.
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