Posts Tagged ‘Growth’

JP Morgan- Profits from Food Stamps and the Growth of Poverty and Suffering in America

JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 US states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money. In the video posted below, JP Morgan executive Christopher Paton admits that this is “a very important business to JP Morgan” and that it is doing very well. Considering the fact that the number of Americans on food stamps has exploded from 26 million in 2007 to 43 million today, one can only imagine how much JP Morgan’s profits in this area have soared. But doesn’t this give JP Morgan an incentive to keep the number of Americans enrolled in the food stamp program as high as possible? There are just some things that are a little too “creepy” to be “outsourced” to private corporations. The JP Morgan executive in the interview below does his best to put a positive spin on all this, but it just seems really unsavory for a big Wall Street bank to be making so much money off of the suffering of tens of millions of Americans…. So if unemployment goes down will this ruin JP Morgan’s food stamp business? Well, apparently not. In the interview Paton says that 40% of food stamp recipients are currently working, and he seems convinced that there …

CGS Growth Leads to Expansion of European Contact Center Operations in Romania

CGS Growth Leads to Expansion of European Contact Center Operations in Romania
Computer Generated Solutions, Inc. (CGS) will open a new call center in Sibiu to meet growing demand for outsourced business services throughout Europe.

Read more on PRWeb via Yahoo! News

Cities to contend with slow growth, home vacancies

Cities to contend with slow growth, home vacancies
Armed with 2010 Census figures that reveal shifts in population and an increase in vacant properties, city officials have to make sense of the numbers and use them to help plan for the next 10 years.

Read more on Miami Herald

NE Okla. shows growth of 8.1 percent in past decade

NE Okla. shows growth of 8.1 percent in past decade
The population of 20 counties in northeastern Oklahoma counties, including the Tulsa area, jumped by 8.1 percent in the past decade, the latest census shows. Only one county experienced a statistically …

Read more on Tulsa World

New product fuels Bethesda telecom’s growth

New product fuels Bethesda telecom’s growth
After moving to Maryland from Virginia several years ago, Bethesda telecommunications-products provider Connectiv Solutions is in a hiring mode, having received another multimillion-dollar contract for a flagship product, executives said this week.

Read more on Gazette.net

Study: Smaller towns lack job growth tools

Study: Smaller towns lack job growth tools
Ann Arbor — Local governments believe there are opportunities to grow existing businesses in their communities, but many aren’t engaged in economic development or have few tools to increase jobs, a new study says.

Read more on Detroit News

The Growth, Downfall, And Rise Of Call Center Industry In The Philippines

There are many successful industry in the Philippines, in which most are agriculture. However, other than agriculture, the call center industry is also one of the largest and most successful industries in the Philippines. According to the government, the call center industry has been tagged as the Sunshine Industry by the government because of its massive expansion over the last 10 years.

The call center industry was also considered as one of the fastest growing sectors within the economy. However, due to recent events, such as the global recession, the call center industry have taken a huge impact, which led to its significant downfall in recent years.

Growth of call center industry
According to many experts, the call center industry of the Philippines first started as plain providers of email response and managing services. However, because of Filipino’s knowledge in the use of the English language, which is above most Asian countries, many corporations from other countries such as in the US chose the Philippines as their base of outsourced services.

Because of these companies, a number of new services were introduced in the Philippines which is mostly comprised of customer relation services and Order taking services such as travel services, technical support, education, customer care, and financial services.

However, other than customer relation and Order taking services, many call centers, such as Sykes, Convergys, and other outsourced companies, have also introduced another service, which is business relation services, including: online business to customer support and online business to business support.

Call center industry during global recession
The recent global recession, according to many experts, have made a significant impact in the Philippines’ call center industry downturn. Because of global recession, many outsourced companies in the Philippines, which makes up the largest market in the call center industry in the Philippines, have closed which led to a large scale unemployment.

This also triggered a significant change in their recruitment process and requirements. Though most would only provide customer relations and Order taking services, many call center managers require graduates who are extremely fluent in English and (for technical accounts) above par IT skills. Their recruitment process, on the other hand, have also significantly changed to make it more challenging for competitive and skillful applicants.

Call center industry of today
Though the recent global recession have caused a major downturn in the call center industry of the Philippines, the government still sees the industry as their sunshine industry. In spite of this condition, a very well known US outsourcing giant declared recent plans for five new customer contact centers in the Philippines which signifies jobs for at least 7,000 people. In 2006, 160,000 people were employed in a US$2 billion (S$3 billion) business.
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