Crains New York - September 24, 2012 - (Page 10)

OPINION N An easy immigration fix ew York City has done the hard part: With decades of effort and investment, its private and public sectors have created a vibrant, safe metropolis that attracts businesspeople and talented students from every corner of the globe. Then Washington kicks them out. The reason is that Congress has not done the easy part by passing legislation to allow companies to employ more skilled foreigners and to keep them in the U.S. longer. New York would be the biggest beneficiary of such a law because its tech companies are eager to grow but are handcuffed by a shortage of qualified American workers. City-based Tumblr, for instance, has been waiting for nine months for visas to bring senior employees stateside. Startup Monaeo’s overseas contractors want to move to New York but can’t until at least October 2013 because of the backlog. There are countless examples like these. Yet Congress doesn’t act—not because the solution is complicated or controversial. Quite the opposite, in fact: This is the lowhanging fruit of immigration reform. But some advocates fear that if work-visa reforms are passed piecemeal, Congress won’t compromise on the thornier issues, such as how to treat undocumented visitors. This all-or-nothing approach has failed. But an agreement on work visas that breaks the stalemate in Washington might facilitate future agreements. At the very least, it would boost an economy that desperately needs it. New York Sen. Charles Schumer is pushing a bill called the BRAINS Act that would make 100,000 green cards available over two years for foreign-born students with advanced degrees in science, technology, engineering and math. Currently, these talented folks are being scooped up by companies in places like Singapore (which offers residency to any immigrant with a doctorate) and London, or they are returning to their native countries after their student visas expire. Some students are not coming to U.S. schools in the first place because they see little hope of being allowed to accept a job here. Only 145,000 permanent-resident applications based on employment are being approved annually. There’s a similar bill in the House, but it would cut other visa targets to ensure no net increase in immigration. That’s a poison pill that should be removed in conference committee if both bills pass their respective chambers. The lame-duck session after the election presents a great opportunity to get this done, but there’s no reason the next Congress couldn’t also do it. The public prefers collaboration to confrontation by its representatives, and its top priority is adding jobs. This is an easy way to do it. CRAIN’S NEW YORK BUSINESS editor in chief Rance Crain publisher, vp Jill R. Kaplan EDITORIAL editor Glenn Coleman deputy managing editors Valerie Block, Erik Ipsen assistant managing editors Erik Engquist, Jeremy Smerd senior producer, news Elisabeth Butler Cordova news producer Lauren Elkies contributing editor Elaine Pofeldt columnists Greg David, Alair Townsend crain’s health pulse editor Barbara Benson senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, Matthew Flamm, Miriam Kreinin Souccar reporters Amanda Fung, Andrew J. Hawkins, Adrianne Pasquarelli contributing reporter Chris Bragg web reporter, producer Tania Karas art director Steven Krupinski deputy art director Carolyn McClain staff photographer Buck Ennis copy desk chief Steve Noveck copy editor Thaddeus Rutkowski data editor Suzanne Panara assistant data editor Emily Laermer researchers Eva Saviano, Amy Stern interns Ali Elkin, Emily Lundeen ONLINE AND INTERACTIVE SERVICES general manager, online & e-commerce strategy Kira Bindrim senior web developer, interactive Chris O’Donnell ADVERTISING, MARKETING AND PRODUCTION advertising director Trish Henry senior account managers Irene Bar-Am, Courtney McCombs, Sheryl Rose, Suzanne Wilson account executive Jill Bottomley Kunkes sales coordinator Danielle Wiener newsletter product manager Alexis Sinclair credit Todd J. Masura (313-446-6097) director, audience development Michael O’Connor senior marketing manager Catherine Schutten event producer Courtney Williams reprint sales manager Lauren Melesio production and pre-press director Michael Corsi advertising production manager Suzanne Fleischman Wies TO SUBSCRIBE: For print and digital subscriptions or customer service, e-mail customerservice@crainsnewyork.com or call 877-824-9379 (in the U.S. and Canada) or 313-446-0450 (all other locations). $3.00 a copy for the print edition; or $99.95 one year, $179.95 two years, for print subscriptions with digital access. www.crainsnewyork.com/subscribe TO ADVERTISE: Contact Advertising Director Trish Henry at thenry@crainsnewyork.com or call 212-210-0711. www.crainsnewyork.com/advertise buck ennis It’s past time to let businesses import the talent they need CRAIN’S ONLINE POLL COMMENTS Crushed in the middle bloomberg news NOT RICH OR POOR ENOUGH FOR NYC RENTS This is why the middle class is being forced out: The rich can afford million-dollar condos, and those ultraluxury buildings got tax breaks because the same developers built lowincome housing as a giveback (“High rents hitting middleclass New Yorkers,” Crains NewYork.com). That arrangement is having negative consequences on those in the middle—they’re too poor for luxury condos but too rich for low-income housing. —randi chisholm What is to blame are the “emergency” price controls that have been in place for 40 years. All they do is give incentives to landlords to turn buildings into condos and co-ops and to builders not to construct “affordable” rental units. End rent control. End rent stabilization. Liberalize zoning laws. Incentivize the building of affordable rental units. That is what is needed. —dr. louis brusco jr. Nothing in real estate goes up forever. The current high rents will come down due to circumstances beyond the control of landlords. It could be another financial dip, a second recession, economic forces beyond anyone’s control or, worst of all (hopefully not), some form of terrorist attack, all of which will cause a significant relocation by those living in the city. Real estate is a cyclical business, but for those living in the city now and paying these absurd rents, it’s a choice they have made. I have always said as long as people are willing to pay, the landlords will charge whatever they can. If there DO MITT ROMNEY’S ‘47%’ COMMENTS KILL HIS CAMPAIGN? Yes. The guy is so obviously out of touch with average Americans, there’s no way he’ll be trusted to be president. No. To win, he only needs to reach the 10% of voters who are up for grabs—and they could very well agree with him. Date of poll: Sept. 18 FOR INFORMATION ON OUR EVENTS: Contact Event Producer Courtney Williams at cwilliams@crainsnewyork.com or 212-210-0257. www.crainsnewyork.com/events TO CONTACT THE NEWSROOM: were more resistance, I think rents would be lower. So who really is to blame? —john f. nahas 711 Third Ave., New York, NY 10017-4036 editorial phone: 212.210.0277 fax 212.210.0799 Entire contents ©copyright 2012 Crain Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP Inc., used under license agreement. 416 votes FERRY NICE SERVICE Re your poll “Should NYC keep the East River Ferry afloat?”: Keep the ferry! I just moved to Williamsburg and love my new commute. I’ve been subway-free for three weeks, and I would love to stay that way. —lindsay allen PUBLISHED BY CRAIN COMMUNICATIONS INC. chairman Keith E. Crain president Rance Crain secretary Merrilee Crain treasurer Mary Kay Crain executive vp, operations William Morrow senior vp, group publisher Gloria Scoby group vp, technology, circulation, manufacturing Robert C. Adams vp/production, manufacturing David Kamis chief information officer Paul Dalpiaz founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) 47% Yes 53% No FOR THIS WEEK’S QUESTIONS: Go to www.crainsnewyork.com/poll to have your say. CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to letters@crainsnewyork.com. Send columns of 475 words or fewer to opinion@crainsnewyork.com. Please include the writer’s name, company, address and telephone number. 10 | Crain’s New York Business | September 24, 2012 http://www.crainsnewyork.com/subscribe http://www.crainsnewyork.com/advertise http://www.crainsnewyork.com/events http://www.crainsnewyork.com/poll

Table of Contents for the Digital Edition of Crains New York - September 24, 2012

In the Boroughs
In the Markets
The Insider
Business People
Corporate Ladder
Small Business
Opinion
Greg David
Report: Accounting
The List
Classifieds
Real Estate Deals
New York, New York
Source Lunch
Out and About
Snaps

Crains New York - September 24, 2012