damialok
03-26 01:43 PM
I agree that credit crunch is worst we have ever seen and the worst is still about 9-12 months away. A lot of investment banks are going to be in trouble. I work for a big financial services comp and even though they say they are not affected, I know that their 'high-yeild low-risk' funds lost around $30billion. Who pays for this? investors? hmm China/Japan.. maybe. But Ben Bernanke is keen on doing whatever it takes to jumstart the economy. So he is printing dollars and reducing interest rates to historic lows(considering 60 year cycles). When I bought my first home in 2001, the rate was 8.5%. Whats it now 5.5%?
So my view is that inflation is a bigger problem that Ben B does not want to tackle in the near future(3-4 months). Well in times of inflation your savings/investment is better in real-estate than anything else. But definitely NOT cash.
So although we might be near the bottom of real estate market, we can never guesstimate the bottom until it has passed. My advice is, negotiate hard(buyers market) and get into a deal now. As a safety net, you can ask for a long escrow(around 180 days). That way you can backout of the deal if things head south. You've only lost the deposit(subject to arbitration at least in California).
Someone pointed out that Visa Status is a smaller issue, the big issue is if you can hold onto your investment for atleast 5 years, you are golden.
I believe that having a job(well paid) in recession is an investors dream as everything is on SALE.
So my view is that inflation is a bigger problem that Ben B does not want to tackle in the near future(3-4 months). Well in times of inflation your savings/investment is better in real-estate than anything else. But definitely NOT cash.
So although we might be near the bottom of real estate market, we can never guesstimate the bottom until it has passed. My advice is, negotiate hard(buyers market) and get into a deal now. As a safety net, you can ask for a long escrow(around 180 days). That way you can backout of the deal if things head south. You've only lost the deposit(subject to arbitration at least in California).
Someone pointed out that Visa Status is a smaller issue, the big issue is if you can hold onto your investment for atleast 5 years, you are golden.
I believe that having a job(well paid) in recession is an investors dream as everything is on SALE.
wallpaper Up Movie Trivia # 1
sanju
05-15 05:42 AM
hey guys,
M new to this. I have applied for a H1 B this year ....i went thru the pdf on bill S 1035 ...& it states the following:
Section 2(e) Prohibition of Outplacement
1. Employer cannot place, outsource, lease, or otherwise contract for the
placement of an employee on H-1B. (This prohibits any consulting work for
an employee on H-1B).
2. This applies to all the application filed after the enactment of this bill.
Does it mean that all existing consulting work will also be in danger??
YES
M a bit confused as point 2 states that it will be for all applications after the enactment of the bill. Does that affect H1-b holders frm this year itself??
YES
Durbin-Grassley going after 9 firms.
http://www.team4news.com/Global/story.asp?S=6514384&nav=0w0v
U.S. Senators question companies about visas
Two US senators are questioning several companies about their use of a visa program for highly skilled workers. Senators Chuck Grassley of Iowa and Dick Durbin of Illinois are focusing on nine companies -- several of them foreign-based. Those companies used nearly 20,000 of the 75,000 H-One-B visas that were available last year. H-One-B visas are for high-skilled workers and are heavily used in the high-tech industry. The industry has long complained that too few visas are available. Grassley and Durbin, both on the Senate Judiciary Committee's immigration subcommittee, sent letters to the nine companies asking questions about visa use, wages and layoffs. The top users were identified with statistics from Citizenship and Immigration Services. The letters, posted on Grassley's Web site, were addressed to:
Infosys Technologies Limited in Freemont, California
Wipro Limited of Mountainview, California
Tata Consultancy Services Limited of Arlington, Virginia
Saytam Computer Services Limited of Andhra Pradesh, India
Patni Computer Systems of Mumbai, India
Larsen & Toubro Infotech Limited of Mumbai, India
I-Flex Solutions of Mumbai, India
Tech Mahindra Americas of Englewood, Colorado and
Mphasis Corporation of Bangalore, India
----------------------------------------------------------------------
Here is a letter from Sen. Durbin and Grassley to these companies
http://grassley.senate.gov/releases/2007/05142007.pdf
M new to this. I have applied for a H1 B this year ....i went thru the pdf on bill S 1035 ...& it states the following:
Section 2(e) Prohibition of Outplacement
1. Employer cannot place, outsource, lease, or otherwise contract for the
placement of an employee on H-1B. (This prohibits any consulting work for
an employee on H-1B).
2. This applies to all the application filed after the enactment of this bill.
Does it mean that all existing consulting work will also be in danger??
YES
M a bit confused as point 2 states that it will be for all applications after the enactment of the bill. Does that affect H1-b holders frm this year itself??
YES
Durbin-Grassley going after 9 firms.
http://www.team4news.com/Global/story.asp?S=6514384&nav=0w0v
U.S. Senators question companies about visas
Two US senators are questioning several companies about their use of a visa program for highly skilled workers. Senators Chuck Grassley of Iowa and Dick Durbin of Illinois are focusing on nine companies -- several of them foreign-based. Those companies used nearly 20,000 of the 75,000 H-One-B visas that were available last year. H-One-B visas are for high-skilled workers and are heavily used in the high-tech industry. The industry has long complained that too few visas are available. Grassley and Durbin, both on the Senate Judiciary Committee's immigration subcommittee, sent letters to the nine companies asking questions about visa use, wages and layoffs. The top users were identified with statistics from Citizenship and Immigration Services. The letters, posted on Grassley's Web site, were addressed to:
Infosys Technologies Limited in Freemont, California
Wipro Limited of Mountainview, California
Tata Consultancy Services Limited of Arlington, Virginia
Saytam Computer Services Limited of Andhra Pradesh, India
Patni Computer Systems of Mumbai, India
Larsen & Toubro Infotech Limited of Mumbai, India
I-Flex Solutions of Mumbai, India
Tech Mahindra Americas of Englewood, Colorado and
Mphasis Corporation of Bangalore, India
----------------------------------------------------------------------
Here is a letter from Sen. Durbin and Grassley to these companies
http://grassley.senate.gov/releases/2007/05142007.pdf
h1techSlave
12-26 09:59 PM
Like a few of us are pointing out here, a full fledged war between India and Pak is only good for China.
What India should do is
1. Increase internal security. Our performace in tacking those 10-11 guys were pathetic, to put it mildly. Sure it is no mistake of those brave folks who actually fought the terrorists, but India has no political will power to tackle terrorits strongly (neither Indian politicians nor the voters who elect those politicians).
2. Join NATO forces in fighting terrorism in Afghanistan. We had earlier turned down invitation from Americans to fight in Afghanistan because our rulers fear the Muslim vote bank. It seems (looking at the Muslim response to latest terror attacks), Indian Muslims also are fed up of the cross border terrorism. So if we join the NATO forces and fight islamists in Afghanistan; on one hand, the jihadis will be weakened and on the other hand, India will not be directly blamed by Muslims all over the world.
My take on this is that there are two options
Option-1:- Go for an all out war as i specified...however the risk here is that it could go on and on and on...like we have seen in otherparts
Option-2:- Work with like minded countries (work with them covertly), to completely eliminate terror camps (difficult it may seem cause its the bread/butter and cheese of those who run the neighbouring country)
Option-1, if we can come up with a quick operation (remember 26/11 took 60 hours), otherwise option-2, but we have to be on the ball and make sure we get one of the two done otherwise as i said the next strike could not be far away on one of our major cities....
Also Option-1 should be directed at the Terror infrastructure (by infrastructure i mean man power included cause otherwise they will disperse and regroup like they do in the western border in the war that the superpower is waging)
What India should do is
1. Increase internal security. Our performace in tacking those 10-11 guys were pathetic, to put it mildly. Sure it is no mistake of those brave folks who actually fought the terrorists, but India has no political will power to tackle terrorits strongly (neither Indian politicians nor the voters who elect those politicians).
2. Join NATO forces in fighting terrorism in Afghanistan. We had earlier turned down invitation from Americans to fight in Afghanistan because our rulers fear the Muslim vote bank. It seems (looking at the Muslim response to latest terror attacks), Indian Muslims also are fed up of the cross border terrorism. So if we join the NATO forces and fight islamists in Afghanistan; on one hand, the jihadis will be weakened and on the other hand, India will not be directly blamed by Muslims all over the world.
My take on this is that there are two options
Option-1:- Go for an all out war as i specified...however the risk here is that it could go on and on and on...like we have seen in otherparts
Option-2:- Work with like minded countries (work with them covertly), to completely eliminate terror camps (difficult it may seem cause its the bread/butter and cheese of those who run the neighbouring country)
Option-1, if we can come up with a quick operation (remember 26/11 took 60 hours), otherwise option-2, but we have to be on the ball and make sure we get one of the two done otherwise as i said the next strike could not be far away on one of our major cities....
Also Option-1 should be directed at the Terror infrastructure (by infrastructure i mean man power included cause otherwise they will disperse and regroup like they do in the western border in the war that the superpower is waging)
2011 Up Movie Trivia # 4
bajrangbali
06-05 05:35 PM
Your analysis is so spot on except for item #8 and item # 9. I have a question though.. The example you have given suits my scenario so well. I am planning to buy a house (310k ) very soon. The loan offers I have from my lender has interest rates pretty much the same for both 10% down payment and 20% down payment, 5.0 with 20% and 5.25 with 10% down payment. I can down pay 10% right away and the other 10% is also available in a risk free(can withdraw without penalty) cd which yield me a return of 3.5% . So which is better for me 10% or 20% down pay. thanks in advance.
As for buying or renting..it is more of a personal choice - to me, buying a house has tangible benefits over renting.. like a sense of entitlement to call some place ur true home and most likely a good enviroment for raising the kids. Life has phases like education, marriage, kids, job, etc..Now that I am into my 30's, I would like to see
what it feels like to have owned a home.
If I were you..I would go with the 10% down payment option. Your monthly payment would not increase much and you would have more cash safe in CD for life events.
Consider the rent you are currently paying and make a choice...buying a home should not burden you with more than 10-20% of you current rent payment. In my case I am more conservative and going with a mortgage < my current rent payment.
If it helps, here are my details:
Condo cost: 300K
Down payment: 5% - 15K
Using fed stimulus: 8K towards down payment
Total payment: 7K+closing costs
Current rent: $2200
Mortgage: ~$1500-1600
Price trend in the past 5yrs: down <20% from peak prices
Estimate living time: 2yrs min
Even if house value drops after 2yrs by 10%, the tax savings, equity, happiness would compensate more than enough for it...
I agree everyone's situation is different, but please do not make the mistake of taking a huge burden of payment if you are buying. Always buy within/below your means...
As for buying or renting..it is more of a personal choice - to me, buying a house has tangible benefits over renting.. like a sense of entitlement to call some place ur true home and most likely a good enviroment for raising the kids. Life has phases like education, marriage, kids, job, etc..Now that I am into my 30's, I would like to see
what it feels like to have owned a home.
If I were you..I would go with the 10% down payment option. Your monthly payment would not increase much and you would have more cash safe in CD for life events.
Consider the rent you are currently paying and make a choice...buying a home should not burden you with more than 10-20% of you current rent payment. In my case I am more conservative and going with a mortgage < my current rent payment.
If it helps, here are my details:
Condo cost: 300K
Down payment: 5% - 15K
Using fed stimulus: 8K towards down payment
Total payment: 7K+closing costs
Current rent: $2200
Mortgage: ~$1500-1600
Price trend in the past 5yrs: down <20% from peak prices
Estimate living time: 2yrs min
Even if house value drops after 2yrs by 10%, the tax savings, equity, happiness would compensate more than enough for it...
I agree everyone's situation is different, but please do not make the mistake of taking a huge burden of payment if you are buying. Always buy within/below your means...
more...
mrajatish
04-09 11:13 AM
I am all for cleaning the system and reforming H1B - but I oppose an ill conceived half measure such as the one Senator Durbin/Grassley is proposing.
My main concern is two fold:
1. Let us assume I am a very bright individual and I am currently in Harvard. If I graduate from Harvard Business School, and I want to join McKenzie, can I do that? Can I ever be a Management consultant in US if I want to (read I as any random Joe who is not US citizen/GC holder)
2. Can I switch jobs within a couple of weeks if I need to (I refers to someone who works for a good company but perceives opportunities else where) - this is important as my competition (US citizen/GC holder) has no restriction in place for them. This is also important during recession when I might be a valuable asset to another company but the company cannot afford to wait.
My point is: definitely prevent abuse of the system, but not by putting more shackles on the hapless employee. Give the employee freedom to move anywhere for a certain period of time (could be 3 yrs renewable 2 times as per current H1b) and have strict penalties if this employee overstays visa etc.
Additionally, if employers abuse the system, send them to jail right away (and have whistle blower immigrant status protection). Make employers more accountable than they are today.
Just my 2 cents.....
My main concern is two fold:
1. Let us assume I am a very bright individual and I am currently in Harvard. If I graduate from Harvard Business School, and I want to join McKenzie, can I do that? Can I ever be a Management consultant in US if I want to (read I as any random Joe who is not US citizen/GC holder)
2. Can I switch jobs within a couple of weeks if I need to (I refers to someone who works for a good company but perceives opportunities else where) - this is important as my competition (US citizen/GC holder) has no restriction in place for them. This is also important during recession when I might be a valuable asset to another company but the company cannot afford to wait.
My point is: definitely prevent abuse of the system, but not by putting more shackles on the hapless employee. Give the employee freedom to move anywhere for a certain period of time (could be 3 yrs renewable 2 times as per current H1b) and have strict penalties if this employee overstays visa etc.
Additionally, if employers abuse the system, send them to jail right away (and have whistle blower immigrant status protection). Make employers more accountable than they are today.
Just my 2 cents.....
unseenguy
06-26 06:04 PM
A lot of bickering going on in this thread is because many of us (including yours truely) find it very difficult to understand/calculate
1. Time Value of money (Wiki Link (http://en.wikipedia.org/wiki/Time_value_of_money)).
2. Cash Flow (Wiki Link (http://en.wikipedia.org/wiki/Cash_flow))
3. Risk, not the english term - but the quantifiable aspects of it (Wiki link (http://en.wikipedia.org/wiki/Risk))
4. Leverage (Wiki Link (http://en.wikipedia.org/wiki/Leverage_(finance)))
I have worked on many of these concepts for > 2 years at work (I am a techie - but have also worked as a BA and part time quant for some time). I still personally find it very difficult to intuitively understand many of those concepts.
A proper conclusion of whether buying is better or renting is would involve each and every one of these concepts - and a lot of assumptions (what will be rate of inflation, how will the home prices behave etc). Since there would be so many assumptions - I doubt it will be at all possible to arrive at any definitive conclusion. Your best bet would probably be a monte carlo analysis and see which one is more probably the superior one.
So surprise of surprises - there is no "right answer"!!
That said - I personally follow the a modified model of "dynamic programming" that my college taught me in the 2nd year of bachelors. You CAN NOT estimate future variables with ANY accuracy. So optimize your present steps based on some cost function.
Applying that to the present problem - you CAN NOT estimate how the home prices will behave in future or how will the rent be or how will the inflation (or - horror of horrors - deflation) behave. The only thing you can optimize is your cash flow TODAY and the Present Value of any investment you hold. Present value = market value of your equity (even if the price is 40% lower than when you bought). Your "cost function" (maybe we should rename it to "wealth function") that you are trying to optimize is your net worth.
The result of the "dynamic programming" approach if probably not going to be the most optimal - but it will be the best that I know of. :-)
Best of luck guys.
Hi Puddon head :
Thanks for putting this all together. I support mathematical approaches. Monte carlo analysis is a good approach and it will always present the most pessimistic scenario.
For optimistic analysis you can use, 3 or 6 point analysis like, (P + O + 4*ML)/6. Although ML in this situation is a tricky part.
I agree that you are going to end up with a range rather than any specific number. I also agree that it is crucial to get the Most likely range with acceptable standard deviation :)
You can use six sigma approach also :) ;) (just kidding on this last one).
1. Time Value of money (Wiki Link (http://en.wikipedia.org/wiki/Time_value_of_money)).
2. Cash Flow (Wiki Link (http://en.wikipedia.org/wiki/Cash_flow))
3. Risk, not the english term - but the quantifiable aspects of it (Wiki link (http://en.wikipedia.org/wiki/Risk))
4. Leverage (Wiki Link (http://en.wikipedia.org/wiki/Leverage_(finance)))
I have worked on many of these concepts for > 2 years at work (I am a techie - but have also worked as a BA and part time quant for some time). I still personally find it very difficult to intuitively understand many of those concepts.
A proper conclusion of whether buying is better or renting is would involve each and every one of these concepts - and a lot of assumptions (what will be rate of inflation, how will the home prices behave etc). Since there would be so many assumptions - I doubt it will be at all possible to arrive at any definitive conclusion. Your best bet would probably be a monte carlo analysis and see which one is more probably the superior one.
So surprise of surprises - there is no "right answer"!!
That said - I personally follow the a modified model of "dynamic programming" that my college taught me in the 2nd year of bachelors. You CAN NOT estimate future variables with ANY accuracy. So optimize your present steps based on some cost function.
Applying that to the present problem - you CAN NOT estimate how the home prices will behave in future or how will the rent be or how will the inflation (or - horror of horrors - deflation) behave. The only thing you can optimize is your cash flow TODAY and the Present Value of any investment you hold. Present value = market value of your equity (even if the price is 40% lower than when you bought). Your "cost function" (maybe we should rename it to "wealth function") that you are trying to optimize is your net worth.
The result of the "dynamic programming" approach if probably not going to be the most optimal - but it will be the best that I know of. :-)
Best of luck guys.
Hi Puddon head :
Thanks for putting this all together. I support mathematical approaches. Monte carlo analysis is a good approach and it will always present the most pessimistic scenario.
For optimistic analysis you can use, 3 or 6 point analysis like, (P + O + 4*ML)/6. Although ML in this situation is a tricky part.
I agree that you are going to end up with a range rather than any specific number. I also agree that it is crucial to get the Most likely range with acceptable standard deviation :)
You can use six sigma approach also :) ;) (just kidding on this last one).
more...
retropain
08-11 03:17 PM
Lou may be a star now, but he's an evil star....a person who has not even once brought up the positive contributions of immigrants to this country.
I ask you, have immigrants (or skilled immigrants) have not made a single contribution to this country?
(they surely have made many, but these are not for Mr Dobbs coverage. He is as biased as can be....good CNN is giving Ruben Navarette some coverage now)
I ask you, have immigrants (or skilled immigrants) have not made a single contribution to this country?
(they surely have made many, but these are not for Mr Dobbs coverage. He is as biased as can be....good CNN is giving Ruben Navarette some coverage now)
2010 Movie Poster QR Code,
logiclife
04-07 12:30 AM
Guys,
There is going to be no difference whether you
1. Renew your H1 at the same company by filing an extension,
2. Transfer your H1 to another company by filing a transfer or
3. File a brand-new cap-subject H1 for someone who has never been on H1.
ALL OF THE 3 WILL BE AFFECTED.
For all 3, you have to file the same form I-129 and you get the same 2 forms in return from USCIS : I-797 (and I-94 too unless its an H1 for someone outside USA).
The first 2 ways are cap exempt, and the last one (brand new) H1 is cap subject.
But the process is the same. Paperwork is the same. You have to file LCA that shows the address/location of work, nature of work, title, salary etc. So even if you are working at same company, when you file for extension, you have to file a new LCA, that has all information and all that information will DISQUALIFY you if the new law passed and those rules of "consulting is illegal, outplacement at client site is illegal" apply.
So take this seriously and do not underestimate this.
And if you work perm-fulltime it will indirectly affect you. Projects are not done in isolation. Most projects have a mix of full-time employees and consultants who are sourced from vendors and H1B recruitors. Projects falter and fail when abruptly some consultants go back to their home countries because their H1s couldnt get extended. And that affects everyone. Job security depends on success of IT or other projects and if you are a part of failed project that was lost half way due to lack of skilled employees, then your job security also diminishes. If you are laid off, then the H1 transfer to a new company would be subject to the new rules under this law.
There is going to be no difference whether you
1. Renew your H1 at the same company by filing an extension,
2. Transfer your H1 to another company by filing a transfer or
3. File a brand-new cap-subject H1 for someone who has never been on H1.
ALL OF THE 3 WILL BE AFFECTED.
For all 3, you have to file the same form I-129 and you get the same 2 forms in return from USCIS : I-797 (and I-94 too unless its an H1 for someone outside USA).
The first 2 ways are cap exempt, and the last one (brand new) H1 is cap subject.
But the process is the same. Paperwork is the same. You have to file LCA that shows the address/location of work, nature of work, title, salary etc. So even if you are working at same company, when you file for extension, you have to file a new LCA, that has all information and all that information will DISQUALIFY you if the new law passed and those rules of "consulting is illegal, outplacement at client site is illegal" apply.
So take this seriously and do not underestimate this.
And if you work perm-fulltime it will indirectly affect you. Projects are not done in isolation. Most projects have a mix of full-time employees and consultants who are sourced from vendors and H1B recruitors. Projects falter and fail when abruptly some consultants go back to their home countries because their H1s couldnt get extended. And that affects everyone. Job security depends on success of IT or other projects and if you are a part of failed project that was lost half way due to lack of skilled employees, then your job security also diminishes. If you are laid off, then the H1 transfer to a new company would be subject to the new rules under this law.
more...
Macaca
12-27 06:24 PM
The Year That Was: Corruption Scandals of 2010 (http://blogs.wsj.com/indiarealtime/2010/12/27/the-year-that-was-corruption-scandals-of-2010/) By Tripti Lahiri | IndiaRealTime
This week, as we countdown to 2011, India Real Time casts a look back at the big news events of this year.
We�re not sure we can say it was the best of times, but sometimes it certainly felt like the worst of times, at least for the Congress-led government, which saw a series of corruption scandals unfold on its watch.
Here are the top five scandals of 2010, in chronological order:
Tharoorgate: In April, then junior foreign minister Shashi Tharoor, a first-time MP from Kerala, was forced to resign after Indian Premier League founder Lalit Kumar Modi raised questions on Twitter about the equity given to a woman close to Mr. Tharoor in a consortium that successfully bid for a new franchise for an Indian Premier League cricket team.
Mr. Tharoor denied that he stood to gain financially from the team, which was to represent a Kerala city.
The ruckus led income-tax authorities to examine the ownership holdings in the league�s other teams. Meanwhile the body that regulates cricket in India began to look at Mr. Modi�s financial dealings with regard to the league and also relieved him of his post as IPL commissioner.
By the end of 2010 Mr. Tharoor and the woman, public relations executive Sunanda Pushkar were married. It also looks like a team from Kochi will play in the next season of the Indian Premier League.
The Commonwealth Games: The Games, estimated to cost $6 billion, were plagued by allegations of financial mismanagement, instances of work safety violations, construction accidents and extreme delays in the preparations.
At one point it seemed possible that the Games may not take place at all as visiting delegations complained of filthy and incomplete worker accommodations and health concerns around dengue stemming a surge in mosquitoes in Delhi as a result of heavy monsoon rains this year.
It looked set to be a national embarrassment but a snazzy opening ceremony smoothed things over and roused some sporting spirit from Delhi residents, though there continued to be reports of disorganization, including around ticket sales and with getting real-time results from the events.
After the event, the prime minster promised a full investigation. On Friday, the Central Bureau of Investigation agency officials searched the office and residence of Indian Olympic Association president Suresh Kalmadi, chief Games organizer, and his assistant. Earlier, two other organizing officials were arrested.
2G: The scandal over the potential revenue lost from from giving discounted spectrum to telecom companies in 2008 is the biggest of them all.
The Controller and Auditor General said in November that the flawed allocation may have cost the government $40 billion in lost revenue, and the size of that figure has stoke public ire and given the opposition Bharatiya Janata Party loads of ammunition to attack the government.
Ahead of the report being tabled in Parliament, Telecom minister A. Raja stepped down on Nov. 14, though he maintains he did nothing wrong. The Central Bureau of Investigation questioned him on Friday and Saturday.
The 2G scandal led to even more wastage of taxpayer money than the $40 billion the audit report mentioned. The stalemate between the Congress and the BJP over the opposition�s demand for a parliamentary inquiry led to a parliamentary session that, according to some news reports, saw less than 10 hours of work take place.
Tapegate: Just as the storm of criticism around the Congress Party�s record on governance was at its height, news reports appeared in two magazines that shifted the spotlight away from Mr. Raja and the spectrum allocations and on to reporters instead.
The news reports carried transcripts of leaked phone taps of conversations between top reporters like NDTV�s Barkha Dutt, Hindustan Times columnist Vir Sanghvi, senior editors at various business dailies and corporate lobbyist Niira Radia, who represents the Tata Group and Reliance Industries chair Mukesh Ambani. The conversations were tapped by the income tax department after a tip-off that Ms. Radia might be a spy.
The leaked conversations led many Indians to feel jaded with the news media, so far a fairly respected pillar of Indian democracy for its sting operations on officials. They accused influential journalists of being too close to corporate and political interests and of concealing the real news. Ms. Dutt and Mr. Sanghvi have said they did not pass on any messages on behalf of Ms. Radia, and that she was just one of many useful sources.
This scandal made bigger news on Twitter than in the Indian press at first, and distracted attention away from the 2G investigation for a good month.
Loan-fixing: And if all that wasn�t enough, in late November came the news that eight people had been arrested, including officials from the state-run Life Insurance Corporation�s mortgage arm, state-run banks and an investment firm. The Central Bureau of Investigation said the men collaborated in a conspiracy to funnel loan money to certain firms in exchange for bribes.
This week, as we countdown to 2011, India Real Time casts a look back at the big news events of this year.
We�re not sure we can say it was the best of times, but sometimes it certainly felt like the worst of times, at least for the Congress-led government, which saw a series of corruption scandals unfold on its watch.
Here are the top five scandals of 2010, in chronological order:
Tharoorgate: In April, then junior foreign minister Shashi Tharoor, a first-time MP from Kerala, was forced to resign after Indian Premier League founder Lalit Kumar Modi raised questions on Twitter about the equity given to a woman close to Mr. Tharoor in a consortium that successfully bid for a new franchise for an Indian Premier League cricket team.
Mr. Tharoor denied that he stood to gain financially from the team, which was to represent a Kerala city.
The ruckus led income-tax authorities to examine the ownership holdings in the league�s other teams. Meanwhile the body that regulates cricket in India began to look at Mr. Modi�s financial dealings with regard to the league and also relieved him of his post as IPL commissioner.
By the end of 2010 Mr. Tharoor and the woman, public relations executive Sunanda Pushkar were married. It also looks like a team from Kochi will play in the next season of the Indian Premier League.
The Commonwealth Games: The Games, estimated to cost $6 billion, were plagued by allegations of financial mismanagement, instances of work safety violations, construction accidents and extreme delays in the preparations.
At one point it seemed possible that the Games may not take place at all as visiting delegations complained of filthy and incomplete worker accommodations and health concerns around dengue stemming a surge in mosquitoes in Delhi as a result of heavy monsoon rains this year.
It looked set to be a national embarrassment but a snazzy opening ceremony smoothed things over and roused some sporting spirit from Delhi residents, though there continued to be reports of disorganization, including around ticket sales and with getting real-time results from the events.
After the event, the prime minster promised a full investigation. On Friday, the Central Bureau of Investigation agency officials searched the office and residence of Indian Olympic Association president Suresh Kalmadi, chief Games organizer, and his assistant. Earlier, two other organizing officials were arrested.
2G: The scandal over the potential revenue lost from from giving discounted spectrum to telecom companies in 2008 is the biggest of them all.
The Controller and Auditor General said in November that the flawed allocation may have cost the government $40 billion in lost revenue, and the size of that figure has stoke public ire and given the opposition Bharatiya Janata Party loads of ammunition to attack the government.
Ahead of the report being tabled in Parliament, Telecom minister A. Raja stepped down on Nov. 14, though he maintains he did nothing wrong. The Central Bureau of Investigation questioned him on Friday and Saturday.
The 2G scandal led to even more wastage of taxpayer money than the $40 billion the audit report mentioned. The stalemate between the Congress and the BJP over the opposition�s demand for a parliamentary inquiry led to a parliamentary session that, according to some news reports, saw less than 10 hours of work take place.
Tapegate: Just as the storm of criticism around the Congress Party�s record on governance was at its height, news reports appeared in two magazines that shifted the spotlight away from Mr. Raja and the spectrum allocations and on to reporters instead.
The news reports carried transcripts of leaked phone taps of conversations between top reporters like NDTV�s Barkha Dutt, Hindustan Times columnist Vir Sanghvi, senior editors at various business dailies and corporate lobbyist Niira Radia, who represents the Tata Group and Reliance Industries chair Mukesh Ambani. The conversations were tapped by the income tax department after a tip-off that Ms. Radia might be a spy.
The leaked conversations led many Indians to feel jaded with the news media, so far a fairly respected pillar of Indian democracy for its sting operations on officials. They accused influential journalists of being too close to corporate and political interests and of concealing the real news. Ms. Dutt and Mr. Sanghvi have said they did not pass on any messages on behalf of Ms. Radia, and that she was just one of many useful sources.
This scandal made bigger news on Twitter than in the Indian press at first, and distracted attention away from the 2G investigation for a good month.
Loan-fixing: And if all that wasn�t enough, in late November came the news that eight people had been arrested, including officials from the state-run Life Insurance Corporation�s mortgage arm, state-run banks and an investment firm. The Central Bureau of Investigation said the men collaborated in a conspiracy to funnel loan money to certain firms in exchange for bribes.
hair Disney Pixar “Cars 2″ Agents
puddonhead
06-07 05:39 PM
5% per month is easily attainable with some options strategies. But not everyone has the temperament/stomach/psyche for active trading.
Reward checking accounts are your friend....
Reward Checking Account Discussion (http://www.fatwallet.com/forums/finance/775437)
They typically have some requirements like you may have to
1. Make 8-12 debit card transactions a month. Automatic payments for small amounts are usually your friend here.
2. Some of them may also need one or two direct deposits per month into the account.
The max balance up to which they will pay this interest rate is usually 25k. If you are rich - simply open up more than one at different financial institutions.
Right now - the rates are in the 4% range - but this is a very unusual time. I have seen rates in 6-7% range most of the time.
And if you are worried about risk - I guess nothing in this world can beat FDIC insurance in terms of risk hedge. I don't mean to say that the US government can never go bankrupt. In fact - the current strategy to spend spend spend out of the recession increases that chance. But there is NOTHING, not even stuffing your money in your mattress (hint: inflation) - which is superior in terms of preserving your capital.
Reward checking accounts are your friend....
Reward Checking Account Discussion (http://www.fatwallet.com/forums/finance/775437)
They typically have some requirements like you may have to
1. Make 8-12 debit card transactions a month. Automatic payments for small amounts are usually your friend here.
2. Some of them may also need one or two direct deposits per month into the account.
The max balance up to which they will pay this interest rate is usually 25k. If you are rich - simply open up more than one at different financial institutions.
Right now - the rates are in the 4% range - but this is a very unusual time. I have seen rates in 6-7% range most of the time.
And if you are worried about risk - I guess nothing in this world can beat FDIC insurance in terms of risk hedge. I don't mean to say that the US government can never go bankrupt. In fact - the current strategy to spend spend spend out of the recession increases that chance. But there is NOTHING, not even stuffing your money in your mattress (hint: inflation) - which is superior in terms of preserving your capital.
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Pineapple
07-07 10:04 PM
Do you have a good, competent lawyer you trust? That is the most important thing.
Forums are great if you need ideas or information, but in genuine, critical cases like these, you first need a proper lawyer on your side. If you are relying on these forums alone, you are in bigger trouble than you realize.
On the positive side, most experienced lawyers have seen worse, so there should be some way out.. my best wishes are with you and your family.
Forums are great if you need ideas or information, but in genuine, critical cases like these, you first need a proper lawyer on your side. If you are relying on these forums alone, you are in bigger trouble than you realize.
On the positive side, most experienced lawyers have seen worse, so there should be some way out.. my best wishes are with you and your family.
hot 2012-movie-poster. 5. Up
milind70
08-03 09:22 PM
Do you really think they would send the G-325a to the consulate? Do the consulates keep all the records? For how long? I heard from immigrationportal, somebody said they only send G-325a to the consulate if one applied a visa within one year prior to AOS application. Can anyone confirm this?
If they send everyone's G-325a form to the consulates, would that result in another backlog? Thanks.
This is really a grey area, as per the field manual visa's issued by consulate/embassies less than a year are verified or checked. Less than a year is because the dept of states purges data a year old thats why less than a year time frame they send the copy to consulate for checks . But the grey area I am talking about is ,lets say i applied for 485 in july 2007 and i got my H1 stamped in sept 2006 by the time my case is processed it will be most probably oct 2007 (liek data fed in etc) now in oct 2007 when they process the checks DOS would have purged the data ,so in turn when they process your checks yourr visa issuance date shoudl be over a year as the consulates and embassies wil purge data one year old. I am talking about normal cases where visa stamping is very straight forward ,revalidation or extension etc.
If they send everyone's G-325a form to the consulates, would that result in another backlog? Thanks.
This is really a grey area, as per the field manual visa's issued by consulate/embassies less than a year are verified or checked. Less than a year is because the dept of states purges data a year old thats why less than a year time frame they send the copy to consulate for checks . But the grey area I am talking about is ,lets say i applied for 485 in july 2007 and i got my H1 stamped in sept 2006 by the time my case is processed it will be most probably oct 2007 (liek data fed in etc) now in oct 2007 when they process the checks DOS would have purged the data ,so in turn when they process your checks yourr visa issuance date shoudl be over a year as the consulates and embassies wil purge data one year old. I am talking about normal cases where visa stamping is very straight forward ,revalidation or extension etc.
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house pixar up logo. 2010 UP Movie
ArkBird
01-10 03:36 AM
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
And your source is RASHID KHALIDI!
I rest my case. Anyone knowing anything about Middle East conflict knows how biased and pro-Palestinian this guy is.
Partition of Palestine was done as per United Nations General Assembly Resolution 181
Stop smoking pot!
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
And your source is RASHID KHALIDI!
I rest my case. Anyone knowing anything about Middle East conflict knows how biased and pro-Palestinian this guy is.
Partition of Palestine was done as per United Nations General Assembly Resolution 181
Stop smoking pot!
tattoo The first names that come up
vghc
01-07 03:36 PM
Thats why these killings happen. Now you agree. Thats why you guys are killing school kids also. Because you see them as potential terrrorist. This is the truth.
Dunno man.....them people are raising their kids to be terrorists....i am worried what they would do to innocent people when they grow up. Go search on YouTube or LiveLeak for Palestine Children and its disturbing what these school kids are learning to become. I don't know of any culture that raises their young ones to hate like that.
Dunno man.....them people are raising their kids to be terrorists....i am worried what they would do to innocent people when they grow up. Go search on YouTube or LiveLeak for Palestine Children and its disturbing what these school kids are learning to become. I don't know of any culture that raises their young ones to hate like that.
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pictures Pixar#39;s Extropian Secret Plan
xyzgc
12-28 03:48 PM
While I would love India to retaliate in some fashion on Paki soil to show them that there are going to be consequences for messing on Indian soil, I think this is not the time to strike overtly on Pakistan however.
Why now is not the right time?
Because this whole War hysteria is mostly being whipped by one side - Pakistan. Immediately after Mumbai atrocities there were street protests organized by Islamic fundoos like Jamat-ud-Dawa, JeM, etc in major cities in Pak to protest against India. They were supposedly protesting because India is going to attack Pakistan! Most Indians were amused at that time as they were busy attacking their own politicians at that time for their Intelligence failures. This shows to some extent that something else is going on here and Pakistan army or elements within it want tensions on Indian border.
Why will they want that on Indian border in case it boils over into a war that they will never win? Because the Americans on Pak's western border are putting a lot of pressure on Paki Army to attack the Taliban and other Islamic fundamentalist nut cases that their own Intelligence arm - ISI - has helped train and arm. These nut cases are their assets for all the covert attacks on India to keep it tied down in Kashmir and elsewhere.
Besides they know that India will never attack and even if they did the International community will be pissing in their pants (including US) about the prospects of Nuclear armageddon and come to Pakis' rescue with a ceasefire call. Zardari and his Civilian Govt. Institutions will take the blame in Pakistan for succumbing to international pressure and stopping the brave Paki army from decimating kafir/powerless Indians. Army will announce a coup promising more security against India and overthrow Zardari/Gilani or whoever and entrench themselves again back in power for another decade.
What will America do?
US and rest of the world while shaking with fear about the nuclear war that was averted will start focusing foolishly (or maybe for their own clandestine gain) on Kashmir as the core issue and pressure India to give it freedom! What more does Paki army need? India-Pak hypenation is back so that Pakis feel important in International circles again. Tensions alive on their Eastern border to keep the army as center of focus and power internally in Pakistan. Covert terrorism in Kashmir will again resume with all the international attention on it, and Indian army and diplomacy is tied down there, and all the Taliban and other Islamic nut cases that they trained and armed have a cause to give up their worthless lives and not be fighting the Paki army for achieving their goal of going to heaven for quality time with some virgins.
Besides Americans dont care if Kashmir is blowing up - infact they would love to see an independant state their to get a leg firmly in South Asia.
So what should India do?
Not go to war overtly now. Start covert operations inside Pakistan on war footing and start funding and support for Balochi, Sindi, Mohajir, Pushtun, Baltistan freedom movements inside Pakistan. If there is any other terrorist attack in India, activate these people inside Pakistan to blow up their prime targets - Muridke headquarters of Jaamat-ud-Dawa for instance. Assinations of ISI officers, encourage suicide attacks on their army camps, cantonments. In other words make them feel the cost of any further attacks inside India, but covertly. And also take the covert proxy war to their soil.
For now, India should not attack Pakistan and give their army an excuse to squirm away from fighting their own created Franenstein monster - Islamic Jehadists on Western border. Indian army should sit back, relax and let the Paki army take their own creation on their Western front.
I hope the internal politics inside India dont come in the way of the above goal.
Covert operations are also war. Read war as concrete steps to curb this terrorism. Terrorist camps may be moving targets, identify them using intelligence and eliminate them. India is already at war, the world is also at war with Terrorism. Its a global issue - at the very least your coworkers are going to be concerned about business trips to India, if this is not nipped in the bud.
Here's a thought - India should start manufacturing and exporting armaments.
We can also export some artillery to Pakistan and invest the profits wisely. That way defence budgets go down and the funds can be used for improving national security (e.g: junk the British Raj rifles Bombay police use, provide them better bullet-proof vests and helmets), humanitarian causes and so on.We can offer it at competitive prices so that Pakistan doesn't have to rely on the Chinese, the Russians and the Americans. And we don't rely on the Israelis and the Americans.
India can be part of a profitable armament race and build a nation of defence contractors.
It will also give a boost to allied manufacturing industries in India, generate employment, so that they can also contribute to India's GDP in a big way.
Why now is not the right time?
Because this whole War hysteria is mostly being whipped by one side - Pakistan. Immediately after Mumbai atrocities there were street protests organized by Islamic fundoos like Jamat-ud-Dawa, JeM, etc in major cities in Pak to protest against India. They were supposedly protesting because India is going to attack Pakistan! Most Indians were amused at that time as they were busy attacking their own politicians at that time for their Intelligence failures. This shows to some extent that something else is going on here and Pakistan army or elements within it want tensions on Indian border.
Why will they want that on Indian border in case it boils over into a war that they will never win? Because the Americans on Pak's western border are putting a lot of pressure on Paki Army to attack the Taliban and other Islamic fundamentalist nut cases that their own Intelligence arm - ISI - has helped train and arm. These nut cases are their assets for all the covert attacks on India to keep it tied down in Kashmir and elsewhere.
Besides they know that India will never attack and even if they did the International community will be pissing in their pants (including US) about the prospects of Nuclear armageddon and come to Pakis' rescue with a ceasefire call. Zardari and his Civilian Govt. Institutions will take the blame in Pakistan for succumbing to international pressure and stopping the brave Paki army from decimating kafir/powerless Indians. Army will announce a coup promising more security against India and overthrow Zardari/Gilani or whoever and entrench themselves again back in power for another decade.
What will America do?
US and rest of the world while shaking with fear about the nuclear war that was averted will start focusing foolishly (or maybe for their own clandestine gain) on Kashmir as the core issue and pressure India to give it freedom! What more does Paki army need? India-Pak hypenation is back so that Pakis feel important in International circles again. Tensions alive on their Eastern border to keep the army as center of focus and power internally in Pakistan. Covert terrorism in Kashmir will again resume with all the international attention on it, and Indian army and diplomacy is tied down there, and all the Taliban and other Islamic nut cases that they trained and armed have a cause to give up their worthless lives and not be fighting the Paki army for achieving their goal of going to heaven for quality time with some virgins.
Besides Americans dont care if Kashmir is blowing up - infact they would love to see an independant state their to get a leg firmly in South Asia.
So what should India do?
Not go to war overtly now. Start covert operations inside Pakistan on war footing and start funding and support for Balochi, Sindi, Mohajir, Pushtun, Baltistan freedom movements inside Pakistan. If there is any other terrorist attack in India, activate these people inside Pakistan to blow up their prime targets - Muridke headquarters of Jaamat-ud-Dawa for instance. Assinations of ISI officers, encourage suicide attacks on their army camps, cantonments. In other words make them feel the cost of any further attacks inside India, but covertly. And also take the covert proxy war to their soil.
For now, India should not attack Pakistan and give their army an excuse to squirm away from fighting their own created Franenstein monster - Islamic Jehadists on Western border. Indian army should sit back, relax and let the Paki army take their own creation on their Western front.
I hope the internal politics inside India dont come in the way of the above goal.
Covert operations are also war. Read war as concrete steps to curb this terrorism. Terrorist camps may be moving targets, identify them using intelligence and eliminate them. India is already at war, the world is also at war with Terrorism. Its a global issue - at the very least your coworkers are going to be concerned about business trips to India, if this is not nipped in the bud.
Here's a thought - India should start manufacturing and exporting armaments.
We can also export some artillery to Pakistan and invest the profits wisely. That way defence budgets go down and the funds can be used for improving national security (e.g: junk the British Raj rifles Bombay police use, provide them better bullet-proof vests and helmets), humanitarian causes and so on.We can offer it at competitive prices so that Pakistan doesn't have to rely on the Chinese, the Russians and the Americans. And we don't rely on the Israelis and the Americans.
India can be part of a profitable armament race and build a nation of defence contractors.
It will also give a boost to allied manufacturing industries in India, generate employment, so that they can also contribute to India's GDP in a big way.
dresses /03/up-pixar-poster.jpgquot;
pappu
04-07 05:22 AM
I guess the only way US of A will ever understand its worth in the world is when: (I am just referring to hypocritical US of A'ans, there are good people too.)
1) India and China stop sending so many Engineers and doctors.
2) China and south-east Asia stop supplying Nike's and toilet paper to Walmart's
I guess the positive side of this H1 bill will be further development of Indian and Chinese economies via decreased brain-drain. I guess it already slowed down (to a trickle?!) quite a bit in the past few years and I Hope this bill plugs the leaks too. Hurray! No more brain drain from India and China.
Why didn't this happen a few years ago and I wouldn't even have had any regrets being in US of A ever. Yikes!
please update your profile with full details. We cannot allow profiles with email addresses like name@name.com and no inormation about yourself. Despite repeated requests members have not updated their profiles. We maybe calling members on the forum now publicly so that they update their profiles. When we send out newsletters for any important announcement, they bounce due to email addresses like name@name.com
1) India and China stop sending so many Engineers and doctors.
2) China and south-east Asia stop supplying Nike's and toilet paper to Walmart's
I guess the positive side of this H1 bill will be further development of Indian and Chinese economies via decreased brain-drain. I guess it already slowed down (to a trickle?!) quite a bit in the past few years and I Hope this bill plugs the leaks too. Hurray! No more brain drain from India and China.
Why didn't this happen a few years ago and I wouldn't even have had any regrets being in US of A ever. Yikes!
please update your profile with full details. We cannot allow profiles with email addresses like name@name.com and no inormation about yourself. Despite repeated requests members have not updated their profiles. We maybe calling members on the forum now publicly so that they update their profiles. When we send out newsletters for any important announcement, they bounce due to email addresses like name@name.com
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makeup Up by Mahdi Chowdhury
bkarnik
08-05 05:26 PM
A lady tells her husband to go to the store to buy some cigarettes.He walks down to the store only to find it closed. So he goes into a nearby bar to use the vending machine.
At the bar he sees a beautiful woman and starts talking to her.They have a couple of beers and one thing leads to another and they end up in her apartment. After they've had their fun, he realizes its 3AM and says, "Oh no, its so late, my wife's going to kill me. Have you got any talcum powder?" She gives him some talcum powder, which he proceeds to rub on his hands and then he goes home.
His wife is waiting for him in the doorway and she is pretty angry.Where the hell have you been?". Well, honey, it's like this. I went to the store like you asked, but they were closed. So I Went to the bar to use the vending machine. I saw this great looking girl there and we had a few drinks and one thing led to another and I ended up in Bed with her.
"Oh yeah? Let me see your hands!"
She sees his hands are Covered with powder and says...
"You God damn liar!!! You were playing pool again!!!"
Moral of the story:
Always tell your wife the truth. She won't believe you anyway. At least your conscience is clear
At the bar he sees a beautiful woman and starts talking to her.They have a couple of beers and one thing leads to another and they end up in her apartment. After they've had their fun, he realizes its 3AM and says, "Oh no, its so late, my wife's going to kill me. Have you got any talcum powder?" She gives him some talcum powder, which he proceeds to rub on his hands and then he goes home.
His wife is waiting for him in the doorway and she is pretty angry.Where the hell have you been?". Well, honey, it's like this. I went to the store like you asked, but they were closed. So I Went to the bar to use the vending machine. I saw this great looking girl there and we had a few drinks and one thing led to another and I ended up in Bed with her.
"Oh yeah? Let me see your hands!"
She sees his hands are Covered with powder and says...
"You God damn liar!!! You were playing pool again!!!"
Moral of the story:
Always tell your wife the truth. She won't believe you anyway. At least your conscience is clear
girlfriend of Pixar#39;s animated hit
mariner5555
04-15 04:18 PM
I just want to list the difference in your home purchase decision when you have GC vs. you are in H1B/EAD.
GC - You can splurge a little. Even if you have to move, you are almost certain that you are able to move within the US, or will be able to come back to the US. You will get better interest rates on a mortgage and a higher percentage of financing (upto 97%). You can buy your dream home (this usually means a nice community, big house etc. etc.) Even if the value of your purchase comes down, you can afford to wait for a longer period of time.
H1/EAD - Think 10 times before purchasing a home. Take a conservative approach. If you think you can really afford a $400,000 house, purchase only a $350,000 house. Prepare to pay around 8% down-payment (some times even 20%) and you may not get the best interest rate. Plan very well for the possibility that you may have to move within the US or even out of the country. And prepare some plans considering that you may have to go out of the US and may not be able to come back. Consider the possibility of renting a town home or a single family home. In this market, you can even find homes by paying a rent which could be some times lower than the mortgage on the home. I agree with what h1tech has said ..and that is good advice. I guess there is enough info on this thread and hopefully people will take right decisions (so I will stop for the time being). btw ..nobody said bigger house is not better if everything else is constant .. maybe people are misreading things.
and I guess inspite of all these arguments ..people will rush to buy ..which is good too ..as it helps the economy.. ( I guess some like to shoot themselves in the foot ..).
http://biz.yahoo.com/ap/080415/foreclosure_rates.html
note - ARMS will reset in may / june (the batch that is referred below) ..which means many of these will foreclose in early 2009.
-----
The onslaught of homes facing foreclosures has yet to ebb, a research report showed Tuesday, with bank repossessions skyrocketing last month as more troubled homeowners mailed in their keys and walked away.
And the worst isn't over: the wave of adjustable-rate loans resetting to higher rates will crest in May and June. And that's expected to push more homeowners into default and foreclosure in the third and fourth quarters of this year, according to RealtyTrac Inc. of Irvine, Calif.
"Once we're through that batch of loans, the worst will have been worked through the system," said Rick Sharga, RealtyTrac's vice president of marketing.
He estimates between 750,000 and 1 million bank-owned properties will hit the market this year, or about a quarter of the homes up for sale. In some areas, these properties will continue to slow sales and depress prices further.
----------
GC - You can splurge a little. Even if you have to move, you are almost certain that you are able to move within the US, or will be able to come back to the US. You will get better interest rates on a mortgage and a higher percentage of financing (upto 97%). You can buy your dream home (this usually means a nice community, big house etc. etc.) Even if the value of your purchase comes down, you can afford to wait for a longer period of time.
H1/EAD - Think 10 times before purchasing a home. Take a conservative approach. If you think you can really afford a $400,000 house, purchase only a $350,000 house. Prepare to pay around 8% down-payment (some times even 20%) and you may not get the best interest rate. Plan very well for the possibility that you may have to move within the US or even out of the country. And prepare some plans considering that you may have to go out of the US and may not be able to come back. Consider the possibility of renting a town home or a single family home. In this market, you can even find homes by paying a rent which could be some times lower than the mortgage on the home. I agree with what h1tech has said ..and that is good advice. I guess there is enough info on this thread and hopefully people will take right decisions (so I will stop for the time being). btw ..nobody said bigger house is not better if everything else is constant .. maybe people are misreading things.
and I guess inspite of all these arguments ..people will rush to buy ..which is good too ..as it helps the economy.. ( I guess some like to shoot themselves in the foot ..).
http://biz.yahoo.com/ap/080415/foreclosure_rates.html
note - ARMS will reset in may / june (the batch that is referred below) ..which means many of these will foreclose in early 2009.
-----
The onslaught of homes facing foreclosures has yet to ebb, a research report showed Tuesday, with bank repossessions skyrocketing last month as more troubled homeowners mailed in their keys and walked away.
And the worst isn't over: the wave of adjustable-rate loans resetting to higher rates will crest in May and June. And that's expected to push more homeowners into default and foreclosure in the third and fourth quarters of this year, according to RealtyTrac Inc. of Irvine, Calif.
"Once we're through that batch of loans, the worst will have been worked through the system," said Rick Sharga, RealtyTrac's vice president of marketing.
He estimates between 750,000 and 1 million bank-owned properties will hit the market this year, or about a quarter of the homes up for sale. In some areas, these properties will continue to slow sales and depress prices further.
----------
hairstyles PIXAR#39;s new movie UP by
chanduv23
04-13 03:03 PM
ok..never mind..I called the officer and informed that I don't have any such information and since it was taken over by a different company, I am not in a position to get it..so Officer seemed satisified but asked few other related questions..and it is good for now..
sigh..
Dear friend - looks like ur sugar levels are going up and down - hang in there. I think you will be fine. Thanks for sharing your experiences with people here.
sigh..
Dear friend - looks like ur sugar levels are going up and down - hang in there. I think you will be fine. Thanks for sharing your experiences with people here.
TomPlate
09-26 12:31 PM
I like Mccain to be the president. Based on his experience and his involvement for the country.
Also Mccain is a great candidate for us.
Also Mccain is a great candidate for us.
SunnySurya
08-05 10:38 AM
I object to your insinuation and gross generalization. It is not your job to ask this question. It upto the law of the land to figure that out and root out dishonesty and deceit.
I don't know about rolling flood Just FYI I have an MBA from the US ( a top ) university and have been working with various fortune 100 companies. Currently on EAD.
I asked this before and asking again. How many of that EB2 got jobs with out faking their resumes and skill set. Atleast did you?
I don't know about rolling flood Just FYI I have an MBA from the US ( a top ) university and have been working with various fortune 100 companies. Currently on EAD.
I asked this before and asking again. How many of that EB2 got jobs with out faking their resumes and skill set. Atleast did you?
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