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"Corporate America has suffered $30.7 billion in lost revenue and other costs over the past two years as a result of delays in visas for foreign business travelers," reported British business affairs analyst Edward Alden on June 2. Complains Bill Reinsch, president of the National Foreign Trade Council, "Our companies have expressed growing frustration to government officials and Congress for nearly two years over the broken business visa system, to no avail."
"In the wake of the September 11 attacks, the U.S. began to require time-consuming security checks of a variety of potential travelers to the U.S.," notes Alden. "The severest impact on business has come from procedures implemented in July 2002 that require background checks of anyone, including potential foreign business customers, who is working with ...