FT Transcript for Feb 20, 2004
Forrester Research says U.S. companies will export 3.3 million service and technology jobs in the next 15 years. H.M. Hervey is steaming mad about that. Hervey says he's pro-business; that he's not a protectionist; and that he's never been personally affected by so-called "offshoring." But the 56 year-old Silicon Valley software executive believes the export of engineering, programming and tech support jobs to India and other countries could seriously hurt America.
So he's organized a group called SaveUSjobs.Biz to engage business leaders on the issue, and to cajole and embarrass them if necessary.
Here is an transcript of a Future Tense interview, which has been lightly edited for clarity.
HERVEY: American companies are sacrificing the long-term economic future of this nation by decimating the middle class by sending jobs and technology offshore at the expense of America.
We want IBM and Hewlett-Packard and other big companies to be profitable, right? Why shouldn't we let them make their profits by finding ways to reduce their work force costs?
HERVEY: Making profits and hiring U.S. workers are not mutually exclusive. We believe that you can do both. There's no reason to decimate the middle class and think you can just do it for profit. When corporate executives tell you that the reason that we have to send jobs offshore is to cut labor costs and reduce overhead, the question that jumps to mind is why don't they themselves take such major reductions in their compensation package? They deserve money, no one begrudges them their money. But when you tell me they need to cut labor and overhead costs but they continue to retain their multi-million dollar salaries, expense accounts, bonuses, and corporate jets while they're cutting a $60,000 a year job in order to cut costs, that doesn't ring true.
The movement of jobs from the United States to other countries has happened for a long time and we're still a strong nation. Is it possible you are over reacting or being a little alarmist?
HERVEY: That's like comparing a trickle to a torrent. The number of jobs going offshore is increasing. The bottom line is we're going to see a continued erosion if we don't stop it.
What do you plan to do about this issue?
HERVEY: We're going to focus directly on the companies themselves in a number of ways. We're going to engage them face to face in the boardroom. Secondly we're going to present them with a cogent plan for reversing this trend, and why there's a good business reason to change this trend, and appeal to their common sense and patriotism. Then we're going to back that up with acquiring a share of stock. We're going to be active shareholders in these companies. We're going to purchase stock, we're going to gain stock through proxies, we're going to gain stock through pledges so that we can help change from within. In addition we're going to generate, if necessary, boycotts of their products and services, marches and sit-ins and shareholder lawsuits.








