No, it’s not about the baby-boomers retiring. For the past few years, foreigners have been buying up U.S. companies and real-estate at an increasing pace. Citibank. Budweiser. The Chrysler Building. In the coming years, they will not just be buying just banks, brewers and trophy-buildings, but they’ll be buying up some of our most educated and experienced people too.
As my picture (with sign-board reading “Experienced MIT Grad for Hire”) has circulating the globe, the response has been both overwhelming and alarming. While from America, mostly I have received calls and emails from empathetic well-wishers and striving multi-level marketing disciples who are going through their own tough times, from the rest of the world, I have received business propositions, invitations to move to dynamically growing economies, and somewhat alarming requests, such as, “Do you know any other unemployed financial experts, such as those from Bear Stearns, whom we can contact? We very much need people with financial experience in China.”
Why are foreigners, especially Asians, reaching out empathetically, but also impulsively, to a total stranger, to an image, and trying to win him over and buy him? Because they can afford to. The Asians want people who went to the best American schools and have great work experience to move to their country – and now they have the financial power to make it happen.
As my image spread through-out China, India, Japan, South Korea and Malaysia, I was asked for personal advice (“Should I study finance?”), economic analysis (including a request to write an article about Warren Buffet), and political analysis (“How do you think the upcoming elections will effect the economy? Will you vote for Obama or McCain?”). I have become a “Sign of the Times” and the “Face of the American Economy.” As an antenna receiving a signal transmitted from the rest of the world, I can tell you what that signal is saying: “We want you to find a job, and we want you to find it here.” I have been invited to move to China, South Korea, Japan, India and even Malaysia, because my correspondents say there are so many great opportunities for me over there. I have also received emails from Americans who have already relocated, saying how wonderful it is living in the Anglo community and work in places like Shanghai. However, I love living in the USA and want to work to support my family over here.
Asians respect education, revering MIT and other top colleges. Apparently, my image with sign-board has struck a deep chord in the Asian psyche. The Asians see my picture in the news-papers, on the Internet and TV - and immediately brand me as creative, brave, intelligent, and a person with great integrity. My image is typically juxtaposed with an article about the ailing American economy and the upcoming elections. Asians want American companies and people to setup shop and invest in their countries, want to purchase our best companies and real-estate at bargain rates, and they want to buy the best products we have to offer, including our people.
For the last couple of years, as an in-house consultant to an investment bank, I received a fine base salary and no bonus or benefits. I know exactly the work I produced and exactly what was billed to clients. Including some overhead, my employer’s profit was approximately 150% of my six-figure salary. Not bad. It was a win-win situation. I like helping people make money, and I like making money.
This year, I have received several offers to work for commissions only, “eat what you kill,” all bonus and no base. American companies no longer think they can afford to hire me. They are afraid because of uncertainty and the “clouds on the horizon.” Fear and loathing has taken over our work-places, replacing collaborative and constructive enterprise with down-sizing and cost-cutting. Everyone admits that there is no more loyalty from corporation to employee or from employee to corporation. The fast-paced flux of technological and market change, mergers and reorganizations, bankruptcies and restructurings, barely allows it. Is the age of the thriving, growing corporation over? What has happened to teamwork, to the partnership and the corporation, to our vision of a common future good for all? United we stand, and divided we fall.
On the other side of the world, the sun is rising, and people are working together for a better future. They may be behind us in political freedom and absolute development, but they are ahead in determination to collaborate and succeed. The age of foreigners immigrating to the U.S for a better future will soon be coming to an end – not because of security concerns, tighter borders, limited visas and keep-the-jobs-here nationalism - but mainly because the economic opportunity is getting better over there and worse over here.
Asians now want us to immigrate over there. They are so big and growing so fast that they need to import educated and experienced people from abroad. They are determined to grow and succeed.
What has happened to our American spirit and determination? If we don’t go forth unafraid over here, turn this economy around and plan for a better future, many of our best and brightest may soon be going forth over there.
This is an amazing blog that you posted and I agree 100%.For a time foreigners have come to this country for a better opportunity. Now its reverse.However,I am sure they would still want to come to our schools and jobs just for the experience commend you on your job hunt on Park Avenue.Unemployment is not a good feeling. Best of luck in your endeavors.
Posted by: Luis R. Rodriguez | September 15, 2008 at 04:15 PM