I was supposed to go to USA for 6 - 8 months, and was pretty excited about that . The trip was supposed to be starting in the end of September 2008 and the place was Wauwatosa, a small town off Milwaukee, Wisconsin.
Then came the global meltdown, as the investment banks saw Wall Street going down. With the economies moving north - Lehman brothers going bankrupt, AIG USA being bailed out by the US Govt, Goldman Sachs, a leading investment banker turning itself to the retail banking, General Motors about to file for bankruptcy if there is no bailout, Merrill Lynch being taken over by Bank of America, things have started looking bleak. The Wall Street effect has been felt across many the globe, and the Indian stock markets have plummeted down.
The Indian IT which has 80% - 90% of its client base in the USA, has been affected again. The September 11th, 2001 ( 9/11 ) disaster in USA had left India high and dry as many companies scurried for cover. It should have been a spot-on lesson for Indian companies , to see other ways to grow their business, but somehow the message didnt get through to the Indian companies. Seven years after the attack, Indian companies are focussing in European region for their business.
The Wall Street meltdown again had its effect on Indian IT, as it saw closure of various projects for Wipro, Infosys and other IT majors. Added to that, as a cost cutting measure, various foreign companies have kept their projects on the pipeline. That has resulted in most Indian IT services companies having very less projects.
Today I got my update on the US trip I was talking about, from 6 months it has been reduced to 1 month .... the project shall go on till mid 2009 , but from Bangalore.
My plans of getting "rich" also melted down. Ma and Ritu are very happy that I dont need to stay for 6 months in USA; infact Rangapishi said me she was happy too . Everyone was very worried about the cold ,winters are harsh out there, with temperatures dipping to -35C (degree Celsius ) . Someway I also felt good, - maybe it was a start of a business development program. Or maybe it was the start of the architecture role , I always think about being.
Sad that I shall be missing out on Sonamoni's 2nd birthday, which shall be on 1st December 2008. The date coincides with my start date of work in USA - maybe I shall leaving this month end.
Then came the global meltdown, as the investment banks saw Wall Street going down. With the economies moving north - Lehman brothers going bankrupt, AIG USA being bailed out by the US Govt, Goldman Sachs, a leading investment banker turning itself to the retail banking, General Motors about to file for bankruptcy if there is no bailout, Merrill Lynch being taken over by Bank of America, things have started looking bleak. The Wall Street effect has been felt across many the globe, and the Indian stock markets have plummeted down.
The Indian IT which has 80% - 90% of its client base in the USA, has been affected again. The September 11th, 2001 ( 9/11 ) disaster in USA had left India high and dry as many companies scurried for cover. It should have been a spot-on lesson for Indian companies , to see other ways to grow their business, but somehow the message didnt get through to the Indian companies. Seven years after the attack, Indian companies are focussing in European region for their business.
The Wall Street meltdown again had its effect on Indian IT, as it saw closure of various projects for Wipro, Infosys and other IT majors. Added to that, as a cost cutting measure, various foreign companies have kept their projects on the pipeline. That has resulted in most Indian IT services companies having very less projects.
Today I got my update on the US trip I was talking about, from 6 months it has been reduced to 1 month .... the project shall go on till mid 2009 , but from Bangalore.
My plans of getting "rich" also melted down. Ma and Ritu are very happy that I dont need to stay for 6 months in USA; infact Rangapishi said me she was happy too . Everyone was very worried about the cold ,winters are harsh out there, with temperatures dipping to -35C (degree Celsius ) . Someway I also felt good, - maybe it was a start of a business development program. Or maybe it was the start of the architecture role , I always think about being.
Sad that I shall be missing out on Sonamoni's 2nd birthday, which shall be on 1st December 2008. The date coincides with my start date of work in USA - maybe I shall leaving this month end.
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