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...glance at the travel itinerary of Natarajan Chandrasekaran will tell you just how dramatically the postrecession economy is changing. Since October, when he became CEO of Indian IT firm Tata Consultancy Services (TCS), Chandrasekaran has retraced the business trips his predecessors have been making for years to New York City and London, the home cities of big banks and other companies that have traditionally outsourced computer programming and other work to Indian firms. But jaunts to the industrialized world may no longer be sufficient to keep his Mumbai-based firm growing at top speed. So Chandrasekaran is also venturing...
...More than the crisis is driving India's IT firms into the emerging world. As their multinational clients expand into developing countries, they are finding it imperative to follow. New customers are also surfacing among large firms and financial institutions from emerging countries as they seek to professionalize their operations. A study by NASSCOM and consulting firm McKinsey figured that by 2020 about a quarter of potential IT- and business-services revenues for outsourcing firms will be generated in the so-called BRIC countries: Brazil, Russia, India and China. Although the U.S. still accounts for 60% of the export revenue...
...made in emerging markets have all reached a critical size," says TCS's Chandrasekaran. TCS discovered that its expansion has opened up new opportunities to lure business from international clients. After struggling to convince Spanish companies to outsource to India, TCS found them much more comfortable outsourcing to the firm's staff in Spanish-speaking Latin America. Business is coming from local companies as well. In early December, TCS launched a currency-trading network for Chinese banks, a project completed for the People's Bank of China...
Very poor choice. Bernanke and his ilk should be replaced with officials unconnected to Goldman Sachs--a firm that now practically runs the country. Maybe they'll have the interests of the people at heart...
Like most of Mamet's plays, Race is a relatively slight affair: three scenes, four characters, one unnecessary intermission. It opens with two principals of a law firm, one white (James Spader) and one black (David Alan Grier), quizzing a prospective client (Richard Thomas) who has been charged with raping a young black woman. In Scene 1 the lawyers badger him mercilessly, scoffing at his claims of innocence, dismissing his naive hopes that the legal system might exonerate him. By Scene 2, however, the white lawyer has done a nifty 180 (and managed to negate virtually all of his Scene...