NAFTA Victims - Cash In Now

Date: Wednesday, May 28, 2003 7:18 PM

JOB DESTRUCTION NEWSLETTER

www.ZaZona.com

Secretary of Labor Chao finally decided to help some of the victims of
"free trade". This is an official admission by our government that
NAFTA is ruining jobs. It would be far simpler just to abolish NAFTA
and save the jobs so that it won't be necessary to pay millions of
dollars to Americans who were victimized by this horrendous trade
agreement.

Why do they call it "free trade" when it costs so much?

Just in case some of you may be hearing that "giant sucking sound",
read the second article.

http://www.doleta.gov/whatsnew/GRANT%20--%20TAA%20Funds%20-%20FINAL%20-%2005-23-03.cfm

News Release

ETA News Release: [May 23, 2003]
Contact Name: Lorette Post
Phone Number: (202) 693-4676

Secretary of Labor Awards $53.1 Million For Workers Displaced By
Foreign Trade

Secretary of Labor Elaine L. Chao today awarded grants totaling $53.1
million to assist workers who have lost their jobs for trade-related
reasons.

"This Administration is committed to helping workers who have lost
their jobs because of foreign imports," said Chao. "The millions of
dollars in grants that we are announcing today are targeted to help
dislocated workers access new training opportunities to find new jobs
that will put them back on the road to financial independence and
recovery."

Fiscal year 2003 trade adjustment assistance training funds are capped
at $220 million. As a result, the Department of Labor's Employment and
Training Administration surveyed each state to determine the additional
funding needed for individuals already enrolled in TAA or NAFTA/TAA
training as of March 31, 2003. Also considered were those approved for
training who were expected to enroll by September 30, 2003. Based on
the information supplied, the remaining 2003 funds were awarded to
states proportionally.

"The funds announced today will allow many trade-affected workers to
complete training they have already begun or are scheduled to begin,"
said Assistant Secretary of Labor for Employment and Training Emily
Stover DeRocco. "For these workers, the training they receive is their
hope for a future that includes a good job at good pay with the promise
of advancement."

Today's funds are for training only; states will receive an additional
15 percent of their allotment for administrative purposes.

The Trade Act of 2002 provides special benefits under the Trade
Adjustment Assistance (TAA) program to workers adversely affected by
increased imports from other countries. The North American Free Trade
Agreement - Transitional Adjustment Assistance (NAFTA-TAA) program
provides trade adjustment assistance for workers who suffer a negative
impact because of increased imports from Mexico or Canada or because
their employer shifted production to one of these countries.

http://www.silicon.com/news/500022/1/1024869.html

Tue 5 June 2001 04:30PM BST

Downturn drives business offshore

It's that simple 'cost, availability and quality' equation...

Offshore development companies are experiencing a boom thanks to the
global economic downturn.

Many global corporates who had previously been reluctant to surrender
control over program development are now being forced to consider it,
according to Ross Perot Jnr, CEO and president of Perot Systems.

In an interview with silicon.com, Perot Jnr, who assumed control of the
global IT services company from his father last year, said: "Even
companies that are purely based in the US are having to go that way
now."

Perot Systems owns offshore outsourcing company HPS, and claims almost
all its European clients are already doing some development offshore.

"It's easier to get European companies to outsource their programme
development but the US recession is forcing companies to outsource not
just through cost but also speed and efficiency," he said.

Popular projects going offshore include euro conversion, which many of
the large financial institutions are opting for. Perot said the 3,000
strong HPS team in India is likely to expand in the next year as a
result.

India is the offshore software development centre of choice for 47 per
cent of UK IT managers due to cost, availability and quality according
to a report by international market research firm SWR Worldwide.

Perot Systems' biggest client is UBS Warburg, who makes up 24 per cent
of the company's sales with financial services as a whole making up a
significant proportion of the company's revenue. Consequently it has
restructured to set up The Financial Services Industry Group which will
focus on all its clients in the banking, insurance and financial
markets and will be based in Europe.

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