Hello Guys,
I came across this feature in the blog settings where I could invite bloggers to contribute to the blog. If people are interested I could invite them. I think we have some good rational people which contribute meaningfuly to the blog. Drop me a note in the comments sections with your email address and I will add you to the list.
Thanks
Vik
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The fictitious growth story of IT sector is being unmasked.
IT Recruitment Firms in soup
As the global economic crisis shaves off nearly $3 billion from India’s annual IT and BPO export target and a lower tech spending by clients takes its toll on hiring sentiment, the placement industry is starting to feel the meltdown heat.
Amid slackening recruitment volumes, crisis-ridden clients are pushing for ‘discounts’ and, in specific cases, defaulting or delaying payments anywhere from three to six months, say placement industry experts. Jittery about the overall environment, recruitment consultants are not only stepping up efforts to collect dues from clients but are also becoming more ‘selective’ about the accounts they bring on board.
Payment delays
Adding to the woes, the issue of payment delays from certain IT clients has also started cropping up. Depending on who one speaks to in the industry, the estimates for extent of delay in payments can vary anywhere from three to six months. “What used to be a 30-45 day deadline earlier has now been pushed to 90-150 days. In some rare cases, it even stretches even beyond 180 days. For our industry, delays are happening in 60 per cent of cases,” says Amar Mallineni, CEO of Dossier Management Services.
Shriniwas,
Just invited you. Looking forward towards reading your posts. Happy Blogging.
Vik
Thanks Vik! Great - I will post soon - but I will proofread anything before posting! Hopefully i will be able to give a more global perspective and also will try to be more resourceful!
News from Mumbai.
1.Investors/speculators have suddenly disappeared from the market.
2. Black marketeers have gone underground for fear of extortion calls from gangster and do nor want to flaunt their wealth.
3. Banks have become like marwari businessmen
4. Builders are living under constant fear as they owe money to gangsters.
To summarise, real estate business is totally collapsed. People are once again buying gold and hoarding. India is heading towards recession
Jan 2009 : FIIs turned net sellers once again during the month. They sold shares worth Rs.45bn during January as against a net buying of Rs.17.5bn in December 2008.
Economic collapse is imminent. Most FII money is in real estate .
Bankruptcy's of big companies is on the horizon. Government is likely support them until the election and once the election is over everything is going to collapse, specially the real estate
to sabbalseshu,
which areas in Mumbai are you agent for, could you tell the real percent drop in rates.
till now havent heard of big builders openly dropping rates.
sachin
Ok we have 5 new contributors. I will stop accepting new ones for now, however one can comment int he blog as readers have been doing in the past.
Vik
Sorry I missed it. You know me, Anand Sankaran, you've got my email too. If you are taking new contributors, please add me.
Anand, Just invited you
Signed up, Vik, thanks.
anand
Hi,
I would be interested in writing for this blog
My emailid is talk4good@yahoo.com.
Can invite bloggers to contribute to the blog in blog settings.
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