Mish
http://globaleconomicanalysis.blogspot.com/2010/04/mish-mailbag-ibm-abandons-us-workers.html">writes:
Here is an Email from "Voice in the Dark" about IBM and outsourcing. VID writes ...
Hello Mish
I read your blog every day. I do not comment much, but I think the MSM and most blogs are missing out on the greatest story not being told.
Large corporations are abandoning the US. I work for IBM. Here is a snapshot of IBM's US headcount:
2005 133,789
2006 127,000
2007 121,000
2008 115,000
2009 105,000
2010 98,000 estimate
These are all good paying jobs that can support a family and pay taxes.
Today, 75% of the total headcount is overseas. The overseas revenue is 65%. The company reported record profits last year. IBM decided to stop reporting their US headcount this year.
You know that many companies are moving their resources overseas. China is the new spot to build development centers. These incremental loses are adding up. But the saddest thing is that they are giving away the building blocks for innovation.
I just read a few weeks ago the Applied Material is planning to replace their US research center for a new one in China. That is another example of what is going on.
And no venture capitalist would attempt to build a solar panel factory from scratch in the US. The costs and the EPA will prevent that.
Please tell this story.
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