Thursday, December 18, 2008
"In filings with the U.S. Securities and Exchange Commission, companies that use H-1B and L-1 visas are alerting investors that it may become more difficult to obtain them in the future. Some firms are also noting that they don't know whether President-elect Barack Obama and the new Congress will help them get adequate numbers of visas.
"Bangalore, India-based Wipro Ltd., one of the largest users of H-1B visas, warned in an SEC filing shortly after the November presidential election that the "increasing political and media attention" directed at outsourcing may lead to legislation that restricts visa use or "imposes disincentives" to expanding offshore programs.
"During the presidential campaign, Obama repeatedly promised to 'stop giving tax breaks to companies that ship jobs overseas' and to provide incentives that help companies keep jobs in the U.S. [NOTE: That's why I voted for him -Hinky] Since his election, Obama has not unveiled a detailed plan for H-1B visas."