Yes! In fact I watched it happen. I lived 3 blocks from Apple when the invasion started in ’98. After they collapsed Silicon Valley in 2001 by not performing as promised (they killed Sun, PeopleSoft, just to name a few), they all then fled to Wall St for high paying jobs. Want to know who REALLY caused the 2008 collapse? GUESS WHO! AND I can prove it:
– Wipro sold a flawed trading package SPECTRAMIND to none other than Lehman, which then went belly up and died because it could no longer make correct program trades and lost billions.
– CountryWide Mortgage sent all its loan processing work to India in 2007 – which then allowed “subprime” loans to be approved. CountryWide had to be bailed out.
– Bear Sterns also hired huge numbers of them. Gone.
– Citibank’s Indian CEO Vikram “The Bandit” Pandit mismanaged the company so badly it also had to be bailed out.
– An Indian national STEM worker at Fannie Mae planted a logic bomb on FM servers designed to wipe the entire company out. FM hired many Indian STEM workers. Had to be bailed out. The logic bomber is now in prison:
And then there is the fact that most of the housing crisis was caused by mortgage-paying Americans losing their jobs to non-mortgage paying foreign guest workers. Loans that were fine in the 90s suddenly became “subprime”.
Boeing lost several million and was sued by ANA Japan for late delivery of the 787. The cause? HCL’s FAILED ES OS which the FAA told Boeing to throw out because it was unsafe for flight. HCL was banned from ever working on the project again:
Not exactly cost savings is it? The ANA lawsuit cost Boeing millions more.
An India Inc also caused the nationwide 2005 Christmas day airport shutdown when Indian programmers used a short int instead of a long int on ComAir’s crew reservation system which then crashed when flight crew assignments exceeded the 65,353 value that a short int can hold. Best and brightest. How much did THAT fiasco cost the American public and companies?
The list is a mile long. Disaster and failure seems to follow these people everywhere they go. How much longer will USA tolerate this non-performance?