TechCOW - The Geek Within

I have seen the US economy stand in the midst of the economic crisis which has affected the world. It did the worst to the best names in the IT industry since 2008 and to note; it has amassed 62,000 people to lose their jobs in the US alone. 8,000 of these were from giant wireless provider company Sprint, 6,000 from electronics company Philips, 3,400 from chip maker Texas Instruments and thousands more from other multinational companies that established corporations in the United States of America. I know there would be more but that would be already out of the information technology industry. I have witnessed how the President has worked to ask lawmakers to approve and support the 825 billion dollar stimulus package. They are all in dire need of help where to get the funds for the real estate bailout and emergency benefits for workers. Even I know how hard it is to survive for families and people who live from paycheck to paycheck. There are a lot of urban hunger and malnutrition incidents after these layoffs and it was high time that the people who built the nation be rewarded with the right tax credits due them.

If I was starting off from college, graduated and got a job; I would expect my skills and contribution to the US workforce be recognized by at least helping me treat my family and children to decent shelter. I know if I were in their shoes I would not be able to afford paying for it nor am I going to consider skipping those loans I had for education since I do not want to risk that to balloon in the coming years. It would be doubly hard to pay that off on an expected high interest rate. The good news is that there is available tax credit for people who would be able to file written and binding contracts until April 30. That would mean huge amount of up to 8,000 dollars for first time home buyers and up to 6,500 dollars for people who have lived consecutively in their homes in the last 5 to 8 years. Everything would end in June 30th this year and there are no signs of extensions. If I were you I would probably be first in line to get that for my folks. Since I am single I would be able to have income limits to 125,000 dollars unlike my married peers who would have it for 225,000 dollars instead. That is not the end of it because they will also have 20,000 dollars phase out of the credit for all of us. This is a huge chop off the original price and I would like to personally recommend IT workers to avail of this before it ends. It would benefit them (the IT workers), their families and the real estate industry. Please don't let this opportunity slip away!

GPS Industries Incorporated seems to have filed for bankruptcy and this has been the trend for corporations in the same service. I have seen a couple of corporations close in the midst of the financial crisis and some did lose their jobs because of chapter 11. It has been a hard year for the US but they are trying their best to have recovery on track. This last quarter has achieved small growth but I hope no corrections will be made that would get this to negative GDP. Even those in Asia like Japan and Korea posted positive earnings at the beginning of the year signaling a possible end to the economic crunch. AT & T posted similar retrenchments for the same period and a couple of small gaming software corporations in the state of Texas also closed down. Texas has been like my third home and when I asked my cousins who work for a local telecommunications company it will continue to do so until there is a registration of greater earnings in the last fiscal quarter. I hope they do so or else my 2 of my relatives would lose their job. I have seen similar filings of chapter 11 through an Austin Bankruptcy Attorney and they have helped a lot. They probably have seen all the aspects like merging with other corporations to increase capital but sometimes it is already too late. Restructuring and eliminating redundancies for both companies would cost more also since the separation pays would depend on the number of years these employees have served these entities. Texas state government needs to step up to the plate and include specific industries that have huge potential for growth. I would not want to see talents of software engineers from that part of the globe just go to waste because of mergers. In some ways, it would be safer to just do stock options instead of taking over the whole thing since they have respective structures in place. The President has already taken necessary steps to help information technology companies and it is up to the state to grab and qualify them on the stimulus package. It will eventually run out soon but I hope lawmakers make the right choice before it's too late.






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