NetIP responds to Joel Stein

Network of Indian Professionals of North America (NetIP-NA) Invites Joel Stein and TIME Magazine Editors as Guests on the Radio

The Time to act in responsible and informed dialog is NOW.

July 8th, 2010, New York, NY: On July 2, 2010, TIME Magazine featured an editorial commentary written by Joel Stein entitled, “My Own Private India”. Mr. Stein’s views about the Indian American community and immigrants from India were perceived negatively and as derogatory. The Network of Indian Professionals of North America (NetIP-NA) finds Mr. Stein’s commentary unacceptable and is deeply disappointed that TIME.com, an internationally-reputed news outlet, would choose to publish this article.

In response to the article, NetIP-NA has received requests to have Mr. Stein explain his remarks to their audience of progressive South Asian professionals. In light of his appended statement explaining his views, NetIP accepts Mr. Stein’s solution and welcomes him to “debate people on the other side of the immigration issue”. The Network of Indian Professionals of North America (NetIP-NA) cordially invites TIME magazine editors and columnist Joel Stein to its radio show, Prime Time with NetIP, which has a reach of over 200,000 South Asian listeners. Prime Time with NetIP broadcasts on HD radio with NetIP-NA’s media partner, HumDesi Radio. Podcasts of previous shows can be heard on http://www.netip.org/primetime

Celebrating 20 years of history this year, NetIP-NA was founded on a platform of social responsibility and respect for all individuals regardless of one’s gender, race, ethnicity, background and religious or political beliefs. Mr. Stein’s article goes to the heart of what NetIP-NA believes are its responsibility, its vision and mission being to embrace the diversity within our heritage, culture and community while empowering members of the South Asian community to challenge any form of discrimination or prejudice.

Far from invoking thought by using humor, Mr. Stein’s article used several stereotypical and inaccurate descriptions that have been perceived widely as racial slurs. When Mr. Stein chose to encourage the creation of a better insult than “a group of people whose gods have multiple arms and elephant nose,” the article failed to be witty and reflective as Mr. Stein may have intended. The overwhelming response to Mr. Stein’s article shows it to be demeaning, hurtful and sacrilegious. The public statement issued by TIME was insufficient at best and Mr. Stein’s apology on Twitter “Didn’t meant (sic) to insult Indians with my column this week. Also stupidly assumed their emails would follow that Gandhi non-violence thing” has not been well received as it further exacerbates the use of stereotypical remarks. NetIP-NA hopes to engage both TIME magazine editors and Mr. Stein in a dialog with young professionals, both first and second generation South Asians, in an effort to alleviate the anger and hurt that the article has caused. “Mr. Stein’s egregious article is disrespectful to Indian Americans and other South Asians and disregards the tragedy of hate crimes that underscored life in Edison in the 1980s. We hope Mr. Stein and TIME magazine’s editors accept our invitation to engage in dialog with us. NetIP-NA is committed to supporting the community we call home and our members deserve an explanation.” -Sundip Arora, President, NetIP North America.

The stage is ripe for a responsible and informed dialog. “It is vital that NetIP educates the community about the invaluable contributions and presence of South Asian Americans. As the third largest immigrant group in America, South Asians cannot be siloed into a specific stereotype or bias and we hope to present concrete facts corroborating this to Mr. Stein. It is a key part of our mission to support South Asians, contribute to the educational awareness of the larger community, and above all, increase appreciation for the value that South Asian Americans bring to society” Rita Bagai, Internal Affairs chair, NetIP North America

NetIP-NA members have described the article as being inaccurate and a misrepresentation of South Asian Americans, especially as it pertains to the economic status and educational successes of the community. The radio show will provide Mr. Stein an opportunity to set the record straight and to further educate the greater community about South Asian Americans and their versatile contributions to society. Several petitions have gained traction since the publishing of Mr. Stein’s article. NetIP supports the SAALT petition which can be accessed here http://bit.ly/bDW7JW.

About The Network of Indian Professionals

The Network of Indian Professionals of North America (NetIP-NA) is a not-for-profit organization dedicated to the overall achievement and advancement of South Asian professionals. A premier networking organization for South Asians promoting professional development, cultural awareness, community service and political awareness, NetIP-NA has the largest reach of young South Asian Professionals in North America.

Today, the organization has a reach of over 350,000 people between its radio show, subscribers, members, partners and affiliates in 24 cities across the United States and Canada. NetIP-NA is the unequivocal voice for an emerging group of South Asians, who excel in every aspect of western society, from business, to politics, to the arts. The rise of NetIP-NA and its affiliated chapters reflects a general “Coming of Age” by South Asian professionals. For more information visit www.netip.org.

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For more information, contact Pooja Dhawan, Brand Strategy, NetIP North America at pooja@netip.org.

Why do immigrants save so much more money than you?

Why has “Raj,” an immigrant who’s lived in the USA for 10 years, saved $150,000 in cash, while few of us born here would ever be able to do the same?

I’m fascinated with the differences in how people around the world spend and save money. Having grown   up around a lot of immigrants, I can tell you that their spending patterns are wildly different than people   who were born and raised in America.

I was reminded of this a few days ago, when I got this email from an immigrant — let’s call him “Raj” —      who’s been in the USA for 10 years.

“I live here in Fremont now and I have about $150K with me in my bank, most of it stored away like that for more than 1 year now because I needed it to buy a house. Now I have stopped thinking hard about the house, since I still dont know where I will settle down, especially after reading your book to avoid buying a house as an investment. I have started diverting most of the money to LifeCycle funds and I also opened an IRA.

In my case , as a Immigrant I still send a lot of money to India where somehow I have good contacts and usually earn much much more than 8% on my money. That is a strong reason I never bothered to learn about investing here. But now I am diversifying and investing both in the US and in India.”

This is extremely common, especially in the Bay Area: You get a single, highly skilled guy who moves from India to a well-paying job in the US. He works his a** off, lives in a small apartment, and sends some of his income back to his family in India. In a few years, he’s saved well into the 6 figures, at which point he either (1) goes back to India to find a bride and returns to continue working, or, less commonly, (2) moves back to India with a nice bit of cash.

This got me thinking. Why do immigrants save so much?

A few easy reasons come to mind:

• They’re more educated (see the Wikipedia entry on Indian Americans)
• They earn more (another Wikipedia link)
• Their culture encourages higher savings rates (see this Atlantic Monthly article). Culture is also why some immigrants are stereotyped as being poor tippers…which is often very true.

I’m especially interested in the cultural factors that affect financial habits. Here’s a fascinating one I didn’t know about from University of Michigan Retirement Research Center (PDF link).

Data from the EBRI Retirement Confidence Survey indicate that Hispanic-Americans who immigrate to the U.S. exhibit different savings behavior than other Americans.

They tend to save more for short-term goals such as education or a home purchase rather than retirement, and are extremely risk averse, placing greater importance on safety than rate of return on investments, relative to others (Kamasaki and Arce, 2000). In addition, they are more than twice as likely as natives to have provided financial assistance to family members (both in and out of the U.S.) and they are more likely to expect their retirement years to be financed by income of other family members (Kamasaki and Arce, 2000)…for many households these intergenerational transfers may be a major component of retirement saving and planning.

If you can’t understand those words, please go find an immigrant and ask him to translate for you.

I’m sure there are several other reasons that are far more complex. We’ve read the New York Times article on how obesity can be contagious, and I’ve long since argued that personal-finance behaviors are contagious, too — suggesting that maybe you should spend time around immigrants so their financial habits rub off.

In your experience, how do spending patterns differ between immigrants and (native) Americans?

Personally, I remember growing up and taking roadtrips to LA. With six of us, lunch at even a fast-food place would be expensive, so my mom packed lunch and we’d stop somewhere to eat it. We never had a summer home — the whole concept was foreign to us. We never had the most fashionable clothes, but my parents would spend a LOT of money on activities for my siblings and me, and didn’t bat an eye at an SAT prep course that cost thousands of dollars.

Like I said, immigrants have incredibly different spending patterns than most of us.What’s your best example of the difference in financial behavior between immigrants and (native) Americans?

New Immigration Rules Complicate Travel to India

by Vishal Chander, Attorney At Law

New immigration regulations may inconvenience frequent travelers to India. In December 2009, India enacted regulations prohibiting tourist visa holders from reentering the country for at least two months after any visit. The regulations have caught many international travelers off guard and drawn complaints from other nations, including the United States.

The travel regulations create several restrictions. Any person holding a multiple entry tourist visa (T visa) is prohibited from entering India within two months of any prior visit. A tourist visa holder must obtain special permission from an overseas Indian mission or post if he or she wishes to reenter India within two months of a previous visit. If a permit to reenter India is granted, the traveler must register with a Foreign Regional Registration Office (FRRO) within 14 days of entering the country. The new regulations also provide that foreign nationals who frequently apply for tourist visas would be referred to the Ministry of Home Affairs for clearance.

The changes were prompted, in part, on news that David Headley ” the American man accused of scouting locations for the 2008 Mumbai terror attacks ” entered India using multiple entry tourist visas. The new regulations are part of a broader strategy to better track foreign travelers in India.

On enactment of the regulations, the United States Embassy in Delhi reported multiple incidents where U.S. citizens were unable to reenter India after brief side trips to countries like Sri Lanka and Thailand. Both the United States and United Kingdom have raised formal complaints regarding the new regulations.

The Indian Bureau of Immigration issued comments clarifying how the regulations will be implemented for tourists who may need to make multiple entries to India during a single trip. The comments state that Indian immigration officials have the discretion to allow two or three entries to travelers on presentation of itinerary and supporting documentation evidencing legitimate tourism.

The comments also state that travelers may obtain a reentry permit for multiple entries on a single trip from Indian missions and posts abroad by submitting itinerary and supporting documentation. The comments conflict with statements from the Indian Embassy in Washington, D.C., which provide that permits are not needed when a trip follows the itinerary exactly.

Media reports suggest the new regulations are temporary and will be reevaluated after six months. Travelers should err on the side of caution. Individuals intending to make multiple entries to India on a single trip may wish to seek reentry permits before traveling. Individuals are also advised to seek the appropriate visa for work, business, medical treatment, or study when traveling to India, instead of engaging in unauthorized activities while on a tourist visa.

Vishal Chander has been attending Network of Indian Professionals’ events since 1998.  He is managing attorney of The Chander Law Firm, P.C.  Vishal sits on the State Bar of Texas standing committee on Laws Relating to Immigration & Nationality.  He is also Young Lawyers Division Chair of the Texas chapter of the American Immigration Lawyers Association.  In 2008 and 2009 Vishal was recognized as a “Rising Star” in the area of Immigration Law by Texas Monthly magazine.

The Chander Law Firm’s principal area of practice is United States Immigration Law. The firm also provides representation to individuals and businesses in a variety of other matters including commercial litigation, collections, personal injury, consumer rights, and civil rights cases. You can learn more about The Chander Law Firm by visiting www.chanderlaw.com.

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