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Xerox CEO: Time for Washington's help

June 6, 2008, 10:12am PDT | Length: 00:05:04
She's been called the second most powerful woman in business. By now, she may be No. 1. In a wide-ranging discussion about technology, politics, and her company's plans, Xerox's CEO tells News.com's Charles Cooper that the tech industry hasn't found a particularly sympathetic ear in the nation's capital, especially when it comes to the hot-button topic of H-1B visas.
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Talkback Most Recent of 2 Talkback(s)

  • It's about economics and the lesser of two evils...
    Supply and demand, good old basic economics.

    Nobody wants to face the facts that, as labor, we are simply "supply" for a demand which has gone global and is cheaper elsewhere.

    Years of Clinton economics were sure nice...employee's market...pick your job...name your salary. But what did they do for us? Those years got us accustomed to high wages and life-style. Now business, fed up with paying high salaries and having employees jump ship all the time, have gone to countries that can "supply" cheap labor, and we sit here accustomed to our expensive life-styles; staring at the high cost of living, and feeling like American business has yanked the rug out from under us. We're in over our heads and failing financially, and feeling desparate for relief.

    Business is simply following sound economic policies to stay afloat. And if we want to see American business stay afloat, we need to pay attention too. American business needs to wake up to the fact that if they don't get proactive about American labor they will soon be foreign business and will be living on foreign shores. American labor needs to wake up to the fact that we are competing in a world market now and if we let the jobs go to foreign shores, the wages go to foreign economies, and we get NOTHING except financial ruin.

    What do you suppose made America strong to begin with. Enginuity and know-how supplied by people who were once H1B themselves or related to people who would have been H1B if we had such laws in the beginning.

    Sure H1B employees mean American jobs in America, in the hands of foreigners. BUT it also means the wages they earn will be pumped into the American economy.

    Yeah, yeah, they will send some of their earnings to their homeland...just like Americans have done through its history...but the point is, most of it will be spent here, in the form of rent or mortgage, sales tax, and purchasing product to live on, etc. etc. just like it has for two hundred years.

    More money in the local economy equals more growth, less economic slow-down or recession. It means more jobs.

    We now have to adjust to a world economy; one in which the supply of labor is enourmous for the amount of work their is to do, and we can't afford President Clinton's idea that we should be able to artificially raise the value of that supply because it goes against sound economics. We see the results now. We need more H1B because it is the lesser of two evils: 1) economic ruin through the jobs leaving our economy, or 2) competing with foreign nationals on our soil for precious few jobs BUT more money infusing the local economy.

    And while we are stopping the hemoraging, we need to encourage our young people to invest in math and science education; to become the best of the best like we once were, so that the workers who are worth the most come from right here on our own shores.
    ZDNet Gravatar
    mike.pennington@...
    10th Jun 2008
  • RE: Xerox CEO: Time for Washington's help
    It's about economics and the lesser of two evils...

    Supply and demand, good old basic economics.

    Nobody wants to face the facts that, as labor, we are simply "supply" for a demand which has gone global and is cheaper elsewhere.

    Years of Clinton economics were sure nice...employee's market...pick your job...name your salary. But what did they do for us? Those years got us accustomed to high wages and life-style. Now business, fed up with paying high salaries and having employees jump ship all the time, have gone to countries that can "supply" cheap labor, and we sit here accustomed to our expensive life-styles; staring at the high cost of living, and feeling like American business has yanked the rug out from under us. We're in over our heads and failing financially, and feeling desparate for relief.

    Business is simply following sound economic policies to stay afloat. And if we want to see American business stay afloat, we need to pay attention too. American business needs to wake up to the fact that if they don't get proactive about American labor they will soon be foreign business and will be living on foreign shores. American labor needs to wake up to the fact that we are competing in a world market now and if we let the jobs go to foreign shores, the wages go to foreign economies, and we get NOTHING except financial ruin.

    What do you suppose made America strong to begin with. Enginuity and know-how supplied by people who were once H1B themselves or related to people who would have been H1B if we had such laws in the beginning.

    Sure H1B employees mean American jobs in America, in the hands of foreigners. BUT it also means the wages they earn will be pumped into the American economy.

    Yeah, yeah, they will send some of their earnings to their homeland...just like Americans have done through its history...but the point is, most of it will be spent here, in the form of rent or mortgage, sales tax, and purchasing product to live on, etc. etc. just like it has for two hundred years.

    More money in the local economy equals more growth, less economic slow-down or recession. It means more jobs.

    We now have to adjust to a world economy; one in which the supply of labor is enourmous for the amount of work their is to do, and we can't afford President Clinton's idea that we should be able to artificially raise the value of that supply because it goes against sound economics. We see the results now. We need more H1B because it is the lesser of two evils: 1) economic ruin through the jobs leaving our economy, or 2) competing with foreign nationals on our soil for precious few jobs BUT more money infusing the local economy.

    And while we are stopping the hemoraging, we need to encourage our young people to invest in math and science education; to become the best of the best like we once were, so that the workers who are worth the most come from right here on our own shores.
    ZDNet Gravatar
    mike.pennington@...
    10th Jun 2008

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