UPDATED 17:20 EDT / MARCH 07 2009

Reality Check vs Fantasy and Rumors

I was intrigued by Techmeme moments ago where a climbing story is about another AOL layoff this week. Once I went to that story, I see it’s nothing but an attempt to snag some traffic over the weekend. The post is based on an ex-AOLer who just happens to leak a memo about a child care policy update!

Are you kidding me? This the entire post …

An ex-AOLer says there are rumors in Dulles that AOL is planning another layoff this week. The d-date is rumored to be Tuesday. AOL apparently likes to whack people on Tuesdays.

The ex-AOLer forwards the following memo, which updates AOL’s policies on child care for employees who are suddenly no longer employees of the company. The memo has fueled concerns that something big is in the offing.

… the rest of it is a copy of the notification memo of child care changes. Now that is what I call fantasy and rumors reporting.

Reality, which is always more interesting of course, is that Silicon Valley is hurting for employment like never before. The jobless rate is sitting at 9.4% and climbing.

The increasing unemployment rate in the valley tracks a rising trend in the state and nation. The state unemployment rate for January was 10.1 percent, up from 8.7 percent in December; nationally, it was 7.6 percent, up from 7.2 percent, with nearly 600,000 jobs shed.

That is reality check, no fantasy or rumors. Flat out reality in your face at this time. Another disturbing reality is the fact that there will be new H-1B restrictions.

New restrictions going into place on the H-1B immigrant worker program have been so extreme some right-groups in India are threatening to boycott of US goods, and American commentators are crying protectionism.

All of these new TARP legislation’s are being pushed through at break neck speeds. So much so, that the congress people we trust to make the right choices are very confused.

The Grassley-Sanders amendment which was being debated the other day on CNBC has everyone confused.

the new law actually says: Grassley-Sanders puts roadblocks in the way of any institution taking TARP money from bringing H-1B workers on-board. Crucially, the total number of H-1B visas the US government will grant stands unchanged at 65,000.

Nothing changes on how many H-1B workers will be allowed that status. The number is still 65,000. In other words, when you really dig into the reality of the situation, there is more hype and drama than actually necessary. It’s more like CNBC needed a play for the crowd, or what is termed as ratings play, vs an actual real debate about the H-1B changes. It was more like a worked event or scripted play acting.

Bloggers are especially guilty of jumping the gun on items just to get on Techmeme first. A more interesting tale can be told if you actually think about all the sources that are presented to you.

I hope the first story that started you on this journey to the end is nothing but a rumor. If it proves to be fact, I still wish that more thought and care would have been put into the post. It is basically another example of trying to jump to the top of Techmeme over the weekend. Ridiculous. Fantasy and Rumors may be noteworthy on a Saturday, but reality could come to bite you on Monday morning.

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