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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPresident Obama Provides Contrast With Romney's Brand Of Corporatism With 'Insourcing' Forum (DUW)
January 11, 2012
((AFP Photo/Mandel Ngan)
As Republicans attack Romney for shuttering American factories and outsourcing workers jobs overseas, Obama is gathering CEOs at the White House for a forum on bringing jobs back home. The White House has dubbed the event: Insourcing American Jobs.
Even if Obama makes no direct mention of Romney or Bain Capital, the presidential attaboy for corporate leaders creating jobs in the U.S. should dovetail quite neatly with the ads Newt Gingrich and Rick Perry supporters are running in South Carolina slamming the former business consultant and leveraged buyout specialist for slash-and-burn tactics at firms Bain acquired.
A day after Romney blasted Obama for his taking his inspiration from the capitals of Europe, the White House also was expected to welcome executives from German industrial giant Siemens and British engine-maker Rolls-Royce to the forum Wednesday.
At times, especially during campaign season, the political rhetoric against globalization and global companies can be tough, said Nancy McLernon, president and CEO of the Organization for International Investment. But she added that the invitation showed the administration understands the role it can play in job creation.
read: http://www.politico.com/news/stories/0112/71330.html
(Pablo Martinez Monsivais / Associated Press)
The White House said that Ford is planning to bring jobs back from China, Japan and Mexico. The auto giant is adding work to a plant in Michigan to produce the mid-size Ford Fusion instead of adding production in Mexico, the administration said.
And last year DuPont started up a new $500 million plant in South Carolina to produce Kevlar anti-ballistic fiber.
The White House also released a report highlighting what it called an emerging trend of insourcing.
In the past two years, 334,000 manufacturing jobs have been created, the report noted.
read: http://www.marketwatch.com/story/obama-launches-push-to-bring-jobs-back-to-us-2012-01-11?reflink=MW_news_stmp
(Brendan Smialowski/Getty Images)
Calling on companies to invest in the US, Obama said, "I am calling on those businesses that have not brought jobs back to take this opportunity to get the American people back to work. That's how we will rebuild an economy where hard work pays off and responsibility is rewarded and a nation where those values live on."
"Today I am meeting with companies choosing to invest in the one country with the most productive workers, best universities, and most creative and innovative entrepreneurs in the world: the United States of America," Obama said in his address to Corporate America leadership at the meeting. That is exactly the "kind of commitment to country we need especially now, at this make-or-break moment for the middle class", he said.
read: http://ibnlive.in.com/generalnewsfeed/news/obama-wants-us-cos-to-bring-jobs-back-rewards-on-cards/949448.html
(REUTERS/Jonathan Ernst)
"I don't want us to just be known for buying stuff from other places," Obama said. "I want us to be known for building stuff and selling stuff all around the world."
"We'll hear from business leaders who are bringing jobs back home and see how we can help other businesses follow their lead," Obama said.
"This competition for new jobs and new businesses and middle-class security -- that's a race we can win," Obama said. "But we can't win it if we just go back to the same things that got us into this mess in the first place. ... We are not a country that was built on the idea of survival of the fittest."
read: http://campaign2012.washingtonexaminer.com/article/obama-convenes-meeting-sourcing-us-jobs/305496
(Pablo Martinez Monsivais / Associated Press)
related:
President Obama Issues Call to Action to Invest in America at White House "Insourcing American Jobs" Forum
http://www.whitehouse.gov/the-press-office/2012/01/11/president-obama-issues-call-action-invest-america-white-house-insourcing
FreakinDJ
(17,644 posts)He would have "Called to Task" the RATpubliCONs and Democrats alike who killed Bills aimed at closing loopholes in the Corp Tax Code that provides incentives for Corps to Ouitsource American Jobs
bigtree
(85,915 posts)doesn't sound like you do
uponit7771
(90,225 posts)FreakinDJ
(17,644 posts)and in all fairness Obama did endorse it.
And again in all fairness I seriously doubt the average voting smuck understands the significance of deterring off shoring in our Corp Tax Code would provide the economy
uponit7771
(90,225 posts)...and disbanding companies raiding pensions.
bigtree
(85,915 posts). . . and he's directly challenging our protests with his policies and his lifestyle. He's an amazing challenge at just the time where we endeavor* to oppose all of that.
Spazito
(49,734 posts)Hammers the repubs without mentioning them, hammers Romney without mentioning him.
Well done!
bigtree
(85,915 posts). . . for the President's economic message and initiatives.
(AP Photo/Manuel Balce Ceneta)
Spazito
(49,734 posts)but, even if he isn't, any one of the current clown car occupants will be damaged goods and the "insourcing" message works brilliantly against them all.
AnotherMcIntosh
(11,064 posts)to be reversed. No matter what is said during a campaign,those outsourcing policies are too profitable for their corporate sponsors.
The outsourcing policies started with Nixon with his adoption of the DISC legislation in 1971. Then, a few months later in 1972, he negotiated a trade agreement with China to the long-term detriment of the American workers and middle-class. His Administration and subsequent Administrations, who wouldn't even curtail illegal immigration in a serious way, knew what they were doing. (Contrast Eisenhower's action in the 1950's under his Administration's Operation Wetback with the subsequent inaction of every Administration after the adoption of the DISC rules. No President prior to Nixon, R or D, ever allowed this country to be invaded by illegal aliens as a way to depress the earnings of American workers and boost corporate profits.)
As noted by the National Bureau of Economic Research in a chapter entitled
The Domestic International Sales Corporation and Its Effects:
"Wages of unskilled labor are most adversely affected by DISC. Because
the export sector requires little unskilled labor, that labor can
remain fully employed only by accepting a large cut in wages. Skilled
labor is used intensively in the export sector, and when capital is highly
mobile internationally, this factor gains the most in relative terms from
DISC. ... While returns to unskilled labor fall for this reason, the effect on
skilled labor is even more pronounced because of the extremely low
elasticity of substitution between skilled labor and capital. When demand
for skilled labor falls, a large decline in its relative price is necessary to
maintain full employment."
http://www.nber.org/chapters/c5838.pdf
For some, the illusion that the outsourcing policy can be reversed will persist. Some will genuinely believe that talk about outsourcing in an Administration's third year of office is more than just campaign talk.
Zalatix
(8,994 posts)I know I didn't see that move coming...
bigtree
(85,915 posts)(Official White House Photo by Lawrence Jackson)
new White House report on building economy: http://www.whitehouse.gov/sites/default/files/investing_in_america_report_final.pdf
fact sheet outlining steps the President has already taken to support insourcing: http://www.whitehouse.gov/sites/default/files/1_10_2012_fact_sheet_on_past_support_for_insourcing_final_2.pdf
Everything You Need to Know About Insourcing
http://www.whitehouse.gov/blog/2012/01/11/everything-you-need-know-about-insourcing
Or, join the conversation on Twitter. Folks are tweeting about insourcing using #insourcing.
TheKentuckian
(24,934 posts)Now to get off the "free trade" crack and commence to giving a damn about wages.