Our government is showing a callus lack of regard for the well being of workers and consumers in California. Just how, you might ask?
A great example is in 2008 the U.S. government stepped in and bailed out Freddie Mac as part of the effort to save the mortgage industry – jobs and all. What did Freddie Mac do after it received our hard earned tax dollars? It turned nearly all of its settlement services needs over to one company – First American.
And what did First American do? Replaced jobs in California and sent them to India.
First American makes a significant percentage of its business from California Real Estate professionals, home buyers and sellers and tax payers. But it continues to send jobs out of state, and out of the country. Talk about biting the hand that feeds you!
Chances are, if you bought a home recently in California, something used in your transaction that was previously “Made in the USA,” now isn’t.
Like you, I am extremely worried about the dwindling number jobs in the California real estate industry. Especially when a major player like, First American, is dramatically off-shoring American jobs to their subsidiary company First Indian Corporation.
What First American jobs are being performed in India? Read their press release which states, “The First Indian Corporation’s primary areas of focus include title insurance, property tax, flood certification, default management services, and credit and property information.”
To give you an idea of the scale of how many jobs they are shipping to India’s Bangalore & Hyderabad, check out this link: http://jobsearch.monsterindia.com/searchresult.html?co=xfirstacinx&cat=22
At this difficult time we should consider focusing our tax dollars and support for creating and holding on to American jobs. Let’s keep Californians and all Americans working. What’s so bad about that?