Obama jobs council invests in overseas jobs

Quantum Windbag · May 23, 2011

Hope and change.

Seven publicly traded U.S. corporations represented on President Barack Obamas advisory council for jobs and competitiveness -- including General Electric Co. (GE) and Intel Corp. (INTC) -- have devoted a growing pool of their non-U.S. earnings to investments in other countries.
As a group, multinational companies with current or former chief executive officers on Obamas jobs council have, over the past four years, almost doubled the cumulative amounts theyve reinvested overseas, according to data compiled by Bloomberg.
By doing so, companies may be able to take advantage of faster-growing markets or lower production costs, and they can defer U.S. income taxes on profits from overseas sales. Underscoring the difference between corporate interests and the national interest, theyre also investing money elsewhere that could be helping the U.S. economy, said former U.S. Labor Secretary Robert Reich.
Thats a signal that they are betting less on America, Reich said. Weve got to understand theres a fundamental difference between the competitiveness of these companies and the competitiveness of America and American workers.
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GE, Intel Advise Obama While Investing Overseas - Bloomberg

Publius1787 · May 23, 2011

Quantum Windbag said: ↑

Hope and change.

Seven publicly traded U.S. corporations represented on President Barack Obamas advisory council for jobs and competitiveness -- including General Electric Co. (GE) and Intel Corp. (INTC) -- have devoted a growing pool of their non-U.S. earnings to investments in other countries.
As a group, multinational companies with current or former chief executive officers on Obamas jobs council have, over the past four years, almost doubled the cumulative amounts theyve reinvested overseas, according to data compiled by Bloomberg.
By doing so, companies may be able to take advantage of faster-growing markets or lower production costs, and they can defer U.S. income taxes on profits from overseas sales. Underscoring the difference between corporate interests and the national interest, theyre also investing money elsewhere that could be helping the U.S. economy, said former U.S. Labor Secretary Robert Reich.
Thats a signal that they are betting less on America, Reich said. Weve got to understand theres a fundamental difference between the competitiveness of these companies and the competitiveness of America and American workers.
Click to expand...

GE, Intel Advise Obama While Investing Overseas - Bloomberg
Click to expand...

He's the INTERNATIONALE ( The Internationale - Wikipedia, the free encyclopedia ) president. Does this suprise you?

[ame=http://www.youtube.com/watch?v=suVB3YGIUk0]YouTube - ‪The Communist Internationale (Original, with English Lyrics)‬&rlm;[/ame]

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Obama jobs council invests in overseas jobs

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Obama jobs council invests in overseas jobs

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