List of TARP Companies Receiving Stimulus Bailout Money

Majority of  banks in US are receiving Stimulus bailout money. New H1B rule was signed into law that makes TARP companies hiring H1B workers very difficult. There was one interesting comment from Sunil

Ok …I tried to find this for a week ….but couldn’t get it anywhere …..My Q is :

What is the percentage of companies who have received TARP and bailout money.The last time I checked, there were already 362 companies in that list and I guess it must have reached at 400 by now….
Since my target is to hunt for companies who haven’t received any assistance, I would really appreciate if some one has reliable statistics.That way we can know how many opportunities are lying before us…..

TARP Companies and H1B Visa

Most of the bailout money is received by the banks. If you look at number of H1B visas filed by those banks, the number will be much less compared to H1B Visas filed by other companies like Infosys, Microsoft, TCS, CTS, Satyam, GE, Intel, Google, ..

If you look at  Top 15 list of H1B Sponsoring Companies from April 2008 Infosys tops list with 4559 H1B Petition approved and 15th place is Qualcomm with 255.  Citibank has 80 and numbers decrease as you go further down the list.

But, law is not clear if they can hire contractors in H1B Visa. Essentially H1B workers will be working for a consulting firm and they can do contracting work for TARP companies.

So, essentially number of H1B petitions filed by TARP companies receiving stimulus bill is not  huge as Infosys or Microsoft.  Again, one can argue that there will be less number of H1B applications expected to be filed in April 2009, large consulting companies can file more H1b petitions and use it later ( maybe after 2-3 years) when market starts to pickup. If you are looking for list of TARP companies, WSJ has a tracker.

Related posts:

1. Impact of Current H1B Workers in TARP Companies
2. Obama Signs Stimulus Bill; New H1B Rules are Included
3. Bank of America Withdraws Job Offers to MBA Graduates
4. Bill To Restrict H1B Hiring to All Companies?
5. H1B Visa 2010 – Strict Hiring Rules