• The Continuing Scam Of Ned-O-Nomics: The Infosys Economic Giveaway (Part 2)

    December 30, 2023
    CT Governor Ned Lamont.

    Please Follow us on GabMindsTelegramRumble, Gettr, Truth SocialTwitter

    In my second part of my analysis of the debacle of the  Connecticut Department of Economic and Community Development (aka “DECD”) providing an $18 million dollar contract of taxpayer money to purportedly bring 1,200 jobs to Connecticut over an either six- or eight-year period (depending on clarifications to this secret agreement), along with a $20 million dollar contract for supposed maintenance and support services to the Office of Early Childhood and Connecticut’s Health Insurance Exchange known as “Access Health CT”,  we will look at several more highly questionable situations with respect to Infosys Systems (aka “Infosys”) and their dealings with other cities and states and employees in our country. As my friend and colleague Tony De Angelo is fond of saying on 94.9 “Lee Elci Show,” if you like peanut butter, you are going to love Skippy once you review these debacles.

    Recently Indianapolis, Indiana is wondering where $56 million in grant monies have gone for supposedly "3,000 new jobs".  The following news report speaks volumes: "In 2018, India-based Infosys, a technology information service provider, announced to great fanfare that it was going to build a $245 million campus near the site of the former Indianapolis International Airport terminal on South High School Road just off Sam Jones Expressway and I-465.  A potential $100 million in state and local incentives, grants and tax breaks helped seal the deal."  "Three thousand people by the end of 2023, according to a $56 million grant contract signed with the Indiana Economic Development Corporation." "City County Councilor Jared Evans is still waiting for that new day to dawn on Indianapolis’ westside.” I’d like to know where the three thousand jobs are at,” he said. “I don’t think all of them are at One America Tower, and they’re certainly not out there, so, where are they?” "Infosys has a headquarters in downtown Indianapolis and has completed construction on a training center as the centerpiece of its proposed campus that on most days appears nearly empty judging by the number of vehicles in the parking lot." "Evans and westside business leaders tell Fox 59 News that Infosys has rejected attempts to participate in community events and organizations despite promises to be a good neighbor."  Again, please remember that Connecticut is giving $18 million dollars to Infosys for supposedly 1200 "new jobs".

    Or how about this issue with California? "Infosys will pay California $800,000 to resolve allegations that between 2006 and 2017, approximately 500 Infosys employees were working in the State on Infosys-sponsored B-1 visas rather than H-1B visas, California Attorney General Xavier Becerra said. This misclassification resulted in Infosys avoiding California payroll taxes such as the unemployment insurance, disability insurance, and employment training taxes."

    In trying to find any information as to the actual amount of jobs Infosys has created in our country, regrettably, one is unable to get any information with regards to this critical information.  Instead, we see the company has been fined millions for violating Visa laws.  Infosys paid a record $34 million dollar penalty for immigration fraud in 2013, per the following news report: "Infosys, a Bangalore-based outsourcing company, agreed to pay a civic settlement of $34 million for “systematic visa fraud and abuse” as announced by Texas prosecutors after two years of investigation. This serious offense constitutes the largest fine in history for an immigration law violation. Misuse of B-1 visas was not the only serious and blatant violation of immigration law, Infosys also had other less obvious, but equally significant infractions in regard to I-9 compliance. It turns out that Infosys failed to maintain I-9 records for many of its foreign nationals in the United States in 2010 and 2011 as required by law; 80% of all I-9s from Infosys contained substantive violations."

    Infosys was also the subject of a massive discrimination lawsuit.  "The plaintiffs, four IT workers from around the U.S., brought their discrimination lawsuit against the India-based IT services giant in 2013. This week, they filed a motion seeking class-action certification from 2009 and say the potential pool of plaintiffs may be as large as 125,000." "The lawsuit alleges that the India-based firm was engaged in "ongoing national origin and race discrimination," and claimed, at the time the lawsuit was filed, that the Infosys U.S. workforce was roughly 90% South Asian. One plaintiff was hired by Infosys to work on a $49.5 million Affordable Care Act, government-funded development project for the District of Columbia. There were about one hundred Infosys employees working on the healthcare project, but only three were American, the lawsuit claimed. The plaintiff alleged harassment, and was denied promotion, the complaint said. Neumark brought a statistical analysis to the discrimination claim. Specifically, the economist wrote, "from 2009 through 2015, 89.39% of Infosys' United States workforce was South Asian while only 11.45% of the United States' Computer Systems Design and Related Services industry was South Asian."

    The Biblical premise of finding out if information is true is the law of this information being repeated “in the mouth of two or three witnesses.”  To this end, we have viewed several examples of this worldwide company and how it apparently operates in the United States.  From an economics perspective I do not see how Connecticut Taxpayers benefit from two separate taxpayer funded contracts to Infosys that will transfer $38 million dollars to them.  For what?  Mythical job creation?  Mythical upgrades to a computer system and program? Another profit source for the Lamont's family hedge fund Oak HC/FT based upon the documented common investments between Oak HC/FT and Infosys? More state crony-based DECD “economic development training?”  To help eliminate more jobs for United States born and raised Information Technology workers? Another "throw your money in the street DECD/Ned Deal" just to show how fast taxpayer money can disappear and how inept people can be? All of this puts one at a complete loss.

    Please consider the following: It has been four years starting with the 2020 Covid-19 debacle and we still do not have any answers to Ned Lamont's family hedge fund (Oak HC/FT Partners) investments to Rapyd, a global Fintech-as-a-service provider and Unqork, both having documented common-investment ties to Infosys.  Nor are any answers forthcoming from associated companies relating to the Covid-19 crisis that include "Thermo Fisher Scientific", "Sema 4", " Core Infomatics", “Centrellis”. "Ocrulus", "Urjanet", "1life Healthcare", "Galileo Health", "Castlight Health", "Paladina Health", and "VillageMD" to name several.   

    Thus, the rip off of Connecticut Taxpayers and many other Taxpayers throughout our country continues with the economic grants given freely to Infosys.  Many more examples exist as to why Infosys (and the DECD) should not be funded any more, at all. Yet, poor vassal taxpayers’ monies are freely given in the rhetoric and drivel that is defined as "economic development" which is a game that government likes to play with taxpayer substance, especially in the non-transparent state of Connecticut. 

    Since there has been scant government outcry to this egregious situation, one only prays that there will be a chorus of taxpayers who will first call for the breaking of ties with Infosys, followed by the defunding of the DECD.  Jobs are not being created especially for Connecticut Information Technology workers.  This is a sham and a shame and should be called out as such.  But with Annie Lamont of Oak HC/FT spouse of the stalwart Connecticut Governor His Royal Con-Man, King Ned Lamont the Unaccountable, aided by the corrupted Democrat Party in an iron grip control of the state and bankrolled by an economically irrational DECD calling the shots, it is business as usual in the state.  Connecticut Information Technology workers be damned.  Connecticut Taxpayers be damned. And any reasonable economic fairness and decency in Connecticut can go to hell as well. Nothing changes in a state that is a bottom feeder in all economic categories with $100-$150 billion dollars in short- and long-term debt along with unfunded liabilities. 

    Connecticut will soon be accelerating its trip into the economic and social gutter with the help of this horrendous and illogical Infosys economic grant. It's up to you, my reader, to cry out and finally put a stop to this mess.

    ‘NO AD’ subscription for CDM!  Sign up here and support real investigative journalism and help save the republic!

    SHARE THIS ARTICLE

    Author

    Bob Swick

    I am an Adjunct Professor of Business and Economics and have taught for 41 years for several different colleges and universities. I have a Bachelors of Science in Journalism and a Masters of Science in Economics. I have written about economics and political issues in my blog "Swick Speak" since 2006.
    Subscribe
    Notify of
    guest

    1 Comment
    Oldest
    Newest Most Voted
    Inline Feedbacks
    View all comments
    Paul A

    Time for a modern day Boston Tea Party. Ned needs to go and Ned needs to be investigated for shamelessly selling out Connecticut and the taxpayers for personal gain. I don’t give him credit for being a smart criminal, he's more like a hostage of the democrat party paying ransom to prop up the take over of this once and not so long ago great state and country. We need to elect leaders that fight for America not against it.

  • Copyright © 2024 The Connecticut Centinal
    magnifier