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It's the last day of a first quarter that most investors would like to forget. Stocks may have bounced back a bit in March, but the Dow and S&P 500 are still down more than 10%.
Our love affair with PC hardware may be waning in this recession. Instead, we're smitten with services.
Two years ago, when the economy was booming, Tessa Luu's furniture showroom in Los Angeles was running smoothly. But Luu was tired of the rising electric bills, salaries, benefits and rent that ate her profits. So she undertook a radical move to cut all the overhead: She said goodbye to her five employees and moved her business online, hiring outsourcers to run the operation.
German logistics giant Deutsche Post said Monday it was cutting 9,500 jobs as part of a major program to restructure its loss-making DHL delivery service in the United States.
A southern Ohio community is bracing for possible layoffs as DHL Express -- the largest employer in the area -- planned to announce its quarterly earnings report and restructuring details.
Outsourcing might seem like a necessary evil - a cost-cutting strategy that guts quality control and invites theft of both intellectual and physical property. But outsourcing makes Paul Carpenter's business work.
In this economic dip, the lessons found in Jim Champy's new book, Outsmart! ($22.99), should prove particularly apt for any business owner looking to grow. The management consultant who co-authored the bestselling Reengineering the Corporation, Champy introduces us to entrepreneurs who thrive amid chaos by outsmarting and outpacing their competitors. Here are a few of their stories.
Eli Lilly's soon-to-be CEO John Lechleiter is an anomaly. As Lechleiter himself put it in a press conference on Tuesday: "Who would've thought that a kid who joined the company in 1979 as an organic chemist, wearing his whites, would be standing here today?"
High stress and low status have soured many grads on the telephone work. Now India, the outsourcing capital, finds itself having to outsource
Most Americans realize that when they call a bank, electronics maker or insurance provider, there's a good chance their queries will be routed to a call center outside the U.S., perhaps in India, the Philippines or other markets filled with English speakers happy to provide customer service or tech support for relatively low wages.
It's the last day of a first quarter that most investors would like to forget. Stocks may have bounced back a bit in March, but the Dow and S&P 500 are still down more than 10%.
Our love affair with PC hardware may be waning in this recession. Instead, we're smitten with services.
Two years ago, when the economy was booming, Tessa Luu's furniture showroom in Los Angeles was running smoothly. But Luu was tired of the rising electric bills, salaries, benefits and rent that ate her profits. So she undertook a radical move to cut all the overhead: She said goodbye to her five employees and moved her business online, hiring outsourcers to run the operation.
German logistics giant Deutsche Post said Monday it was cutting 9,500 jobs as part of a major program to restructure its loss-making DHL delivery service in the United States.
A southern Ohio community is bracing for possible layoffs as DHL Express -- the largest employer in the area -- planned to announce its quarterly earnings report and restructuring details.
Outsourcing might seem like a necessary evil - a cost-cutting strategy that guts quality control and invites theft of both intellectual and physical property. But outsourcing makes Paul Carpenter's business work.
In this economic dip, the lessons found in Jim Champy's new book, Outsmart! ($22.99), should prove particularly apt for any business owner looking to grow. The management consultant who co-authored the bestselling Reengineering the Corporation, Champy introduces us to entrepreneurs who thrive amid chaos by outsmarting and outpacing their competitors. Here are a few of their stories.
Eli Lilly's soon-to-be CEO John Lechleiter is an anomaly. As Lechleiter himself put it in a press conference on Tuesday: "Who would've thought that a kid who joined the company in 1979 as an organic chemist, wearing his whites, would be standing here today?"
High stress and low status have soured many grads on the telephone work. Now India, the outsourcing capital, finds itself having to outsource
Most Americans realize that when they call a bank, electronics maker or insurance provider, there's a good chance their queries will be routed to a call center outside the U.S., perhaps in India, the Philippines or other markets filled with English speakers happy to provide customer service or tech support for relatively low wages.
When Amber McCrocklin launched Paws Aboard, she followed a pattern familiar to thousands of small-business owners. McCrocklin, now 35, had created a line of gear for pet owners who like to take their dogs on their boats. She started by handcrafting boat ladders, life jackets, and waterproof leashes with the help of a local engineer.
Few large corporations need to be convinced of the benefits of offshore outsourcing. Many U.S. companies have fully embraced the outsourcing of customer call centers, software troubleshooting, and even medical diagnoses to workers in India and other emerging markets as a way to cut costs and take care of business when most of America is asleep.
At the Taj Mahal of training centers, a fast-growing Indian outsourcing company lavishes attention on its recruits.
Imagine if the baseball season had begun this week without such foreign-born stars as Albert Pujols, David Ortiz, Justin Morneau and the latest Japanese import, pitcher Daisuke Matsuzaka and his mysterious "gyroball."
We're now less than a week away from our midterm elections, and Republicans and Democrats are down to their final tens of millions of dollars in media buys, their hyperbolic rhetoric all but expended and their candidates all but exhausted.
An independent legal firm hired by Hewlett Packard chief executive Mark Hurd revealed the latest on who was involved in the leak probe and what they knew.
Nearly half of U.S. IT jobs involve the upkeep and maintenance of computers - a sector previously thought to be safe from offshoring. But technological change is sweeping the industry, and soon the servers that host your favorite websites or run your online banking could be run from halfway around the world.
July is shaping up to be the worst month so far this year for companies going public, based on their average-first day performance.
Shares of Indian outsourcing firm WNS jumped 7 percent in their first day of trading on the New York Stock Exchange Wednesday.
After what has been a fairly lackluster summer for companies going public, the market is attempting to gain steam.
Investors will have a chance to bet on a new sector of the outsourcing market when Indian firm WNS Holdings makes its market debut on the New York Stock Exchange this week.
Indian outsourcing firm WNS Holdings intends to raise about $74 million through an initial public offering, according to a filing made with the Securities and Exchange Commission Monday.
I have seen the future of management, and it is Indian. Vineet Nayar, president of India's 30,000-employee HCL Technologies, is creating an IT outsourcing firm where, he says, employees come first and customers second.
First came IT outsourcing. Now comes investment banking.
Stocks were little changed Friday after economic reports and merger-and-acquisition buzz failed to ignite investors' interest in the last session before a long holiday weekend.
For the chiefs of the world's tech giants, it's not visions of sugarplums dancing in their heads this holiday season.
Surprise! India's reign as the world's "Outsourcing King" may be slipping, even with its rock-bottom call center costs.
With its beaches, golf courses, cuba libres, and rock-solid social-security system, it's no wonder that Costa Rica is luring American executives who want an alternative to Indian outsourcing. After...
Managing Diversity Is a goal that causes many executives to groan. And no wonder: Noble though it might be, the diversity ideal has been marred by dreary associations with quotas and political corr...
India wants a new world trade pact that would prevent the United States and other countries from taking steps to ban companies from outsourcing jobs, a top Indian official has said.
Walt Disney Co. plans to outsource about 1,000 jobs in its information technology division to save costs, although the move is expected to result in minimal layoffs, The Los Angeles Times reported in its Friday editions.
John Kornitzer is one money manager without much interest in bears--or bulls, for that matter. When it comes to animals, the Vermont native only has eyes for bison. He's long had a weakness for dra...
Airdate: February 19th, 2005
Here's what you need to know if you're tempted to fib. Plus: Will outsourcing to India end soon? And more on how to spot a phony diploma.
The Bush administration is trying to push the Central American Free Trade Agreement through Congress quickly and quietly.
WITH A RECENT SPATE OF CONSTRUCTION that includes dozens of nightclubs, an indoor ski slope, a glitzy residential development shaped like a palm tree, and plans for the world's tallest building, yo...
Congressional authority to peek into citizens' tax returns wasn't the only clause hidden in the omnibus spending bill that recently passed. There's also a more welcome surprise for the American worker: a grant for a comprehensive study of the effects of outsourcing U.S. jobs to cheap, foreign labor markets.
DEBATING THE MERITS OF outsourcing jobs to India ranks, like, dead last on the agenda of the 23 energetic fourth-graders of Girl Scout Troop 1809 in Austin at their weekly meeting. They're way too ...
We want your views on what makes the perfect global office.
In most elections in which the incumbent enjoys an economy with a healthy 3% annual growth rate, home ownership at record levels, and inflation and interest rates that are well within control, the economy's performance wouldn't be a problem.
The CEOs of the top 50 U.S. companies that sent service jobs overseas pulled down far more pay than their counterparts at other large companies last year, according to a study released Tuesday.
The loss of millions of manufacturing jobs and hundreds of thousands of service jobs over the past few years, and the threat of the loss of millions more to offshore outsourcing, is a clear call to our business and political leaders that our trade policies simply are not working. At the least, not in the national interest.
IBM is moving to reduce the number of U.S. workers it lays off due to the transfer of their work overseas, according to a published report.
Offshore outsourcing has been a controversial topic during the past year. But so far, the political furor over offshoring has not hurt large Indian tech services firms.
California has devised a new plan to help solve its ongoing budget crisis. But while that plan might save California millions of dollars in the next fiscal year, there's a good chance it will leave some of the state's own residents waving goodbye to their jobs.
METHODOLOGY To find the B2 100, we started with 2,000 publicly traded tech companies and narrowed the list to companies that have been trading for at least three years, bring in at least $50 millio...
In the battle over U.S. outsourcing, Tony Raimondo, CEO of Behlen Manufacturing, a small firm based in Columbus, Neb., has become a symbolic casualty. Raimondo, 64, was President Bush's nominee for...
Offshore outsourcing firms are feeling some heat from a U.S. political backlash and the rising Indian rupee, but if the earnings report of an industry bellwether Tuesday is any guidance, business is still pretty good and unlikely to suffer a major setback anytime soon.
Indian software bellwether Infosys Technologies Ltd. said Thursday it will invest $20 million to set up a consulting unit in the United States that will create 500 jobs.
Downsizing in the technology sector slowed in the first quarter of 2004, with job cuts down 52 percent from the same quarter a year earlier, an outplacement consulting company said Thursday.
During the past couple of years, the trend has become annoyingly familiar: Hundreds of American technology firms have rushed to India and other countries to hire inexpensive foreign workers for har...
U.S. Secretary of State Colin Powell has met with Indian leaders, where the touchy election year topic of outsourcing featured on the agenda.
U.S. companies that move jobs overseas to cut costs may not be saving as much money as their executives think.
If you haven't turned on a TV or read a magazine or a newspaper recently, you probably haven't heard that your job is moving overseas.
Let me get this out of the way: I'm a registered Democrat. But I cringe when I hear Democratic presidential front-runner Sen. John Kerry talk about how he'd combat the growing number of jobs headed to foreign countries. I think his proposals would have disastrous consequences if enacted.
To rephrase my opening sentence of last week: Seldom have so many been so angry at a writer they felt understood so little.
We've all seen the bleak statistics: U.S. companies have sent well over a half-million tech jobs overseas in the past couple of years. What the numbers don't show is the bitter frustration of skill...
Seldom have so many had such strong opinions about something they understand so poorly.
"To build or to buy?" is a dilemma many manufacturers in the developed world face every day.
Seldom have so many had such strong opinions about something they understand so poorly.
One of President Bush's top economic advisers sought Thursday to clarify remarks he made earlier in the week that seemed to suggest he thought outsourcing American jobs is good for the economy.
Concerns about jobs being shipped overseas have created a big political stir. But the companies that are benefiting the most from this trend don't seem to be affected by the controversy.
Opponents of offshore outsourcing enjoyed a small victory on Jan. 23, when President Bush signed the Omnibus Appropriations Bill into law. Tucked inside the complicated legislation was the Thomas-Voinovich amendment, which forbids certain segments of the government to use foreign companies when outsourcing some government work.
IBM, the world's largest computer maker, has discussed saving millions of dollars by moving thousands of U.S. jobs offshore, according to internal documents obtained by the Wall Street Journal, the paper reported on Monday.
NEW YORK (CNN/Money) - In December, the State of Indiana cancelled a $15 million contract to upgrade its computer system. Why? Because workers from India would have been working on the government job.
A new day, a new year, a fresh white snowdrift we can turn into snowmen or slush. That's right, it's time once again for my annual look at what's ahead for the new year in the world of technology and business.
Last year, after reading about Indian call centers in a magazine, Web.com CEO Will Pemble decided to "offshore" his Internet hosting company's customer service. This November, plagued by cultural m...
In the clubby world of Silicon Valley venture capitalists, Michael Moritz is as good as they come. He and his firm, Sequoia Capital, played a leading role in financing Flextronics, Yahoo, Google, a...
There's nothing political or philosophical or mystical about the reason for shipping jobs overseas: It simply can save companies boatloads of money. The fiber-optics glut and low wages in developin...
When I moved to California last year, you didn't have to reel off unemployment statistics to me. I could tell that Silicon Valley was hurting by the sheer number of people I met who were out of wor...
When Gap, Hewlett-Packard, Tower Records, and Verizon e-mail those ubiquitous customer-outreach dispatches, a funny thing happens: They get read.
You open your mail and find you've been double-billed. Your screen goes dark just before the start of the NBA finals. The repair guy who was supposed to show up between 8 and noon apparently had be...
First the bad news: The portfolio of seven stocks we chose as best investments for 2003 are down 5% from Dec. 2 (when we wrote about them) through April 22. Now the really bad news: The S&P 500 is ...
Where is work most efficiently done? It's a logical question, but one that business never had the luxury to ask: Work was done where the company was. Then, as travel and communication got easier i...
Students, we have here a case history of Electronic Data Systems, the information-technology outsourcer in Plano, Texas. EDS, you may recall, was started in the 1960s by Ross Perot, bought by GM, a...
Software portal for midsized companies HQ: Sunnyvale, Calif. Founded: 1999 Sales: N.A. Employees: 190 Stock: Privately held Address: www.jamcracker.com
Pat Zilvitis is chief information officer at Gillette in Boston and a huge IBM customer. But it's not the quality of Big Blue's PCs, servers, and mainframes that draws him. "I often don't know if I...
When systems engineer Wayne Correia met bushy-haired David Hayden at a Silicon Valley business dinner two years ago, he found him, well, odd. "[Hayden] had been reading a history of the postal serv...
Good morning. As you know, FORTUNE is always on the lookout for the newest, most effective management ideas and trends. In this presentation, I'd like to share our discoveries. We'll be using chart...
"I started my career with EDS in 1983. I remember in the interview being told all the things I could not do, or I would be fired. I took my personal life underground. We were driven to succeed, a d...
THIS MONTH:
Air-Vet ships drugs, medical instruments and other equipment worth $7 million to $8 million a year -- hundreds of packages a day -- to veterinarians all over the U.S. Yet you won't find any stock c...
AT ITS HUGE manufacturing complex in Rochester, New York, Eastman Kodak operates its own steam, electricity, and water purification plants. Kodak firefighters stand on call at Kodak firehouses. Bri...
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