Updates

02/17/11
Technological breakthroughs with the potential to create millions of jobs are stuck in bureaucratic hell - a backlog of 1.2 million patent applications yet to be reviewed. "Hundreds of thousands of groundbreaking innovations are sitting on the shelf literally waiting to be examined," says Patent Office chief David Kappos. And how many jobs are left unborn with them? "Millions," said Kappos. "Millions of jobs." This stunning revelation is contained in a memo to the President from a high-tech entrepreneur with a 35-year $8 billion record of creating wealth and jobs. His other advice to our chief executive: the biggest job killer is the systematic offshoring of our high-tech manufacturing. Read the whole memo.
02/17/11
The nation’s biggest labor and business groups came together on Wednesday to urge Congress to find a new source of funding for infrastructure projects, possibly through an increase to the gas tax. AFL-CIO President Richard Trumka and U.S. Chamber of Commerce President Thomas Donohue joked about their unlikely partnership but said they are serious about finding a way to provide long-term funding for the nation’s highways, bridges, railways and ports.
02/17/11
The facts are clear: for 30 years U.S. jobs that are lost to imports do not move automatically to higher wage, more productive employment. Most re-employment moves down sharply to far less productive, lower wage employment that does not face imports and cannot be exported. Most U.S. economic destruction is not "creative" but simply and mindlessly destructive. Poorly regulated global commerce now undermines productivity and requires soaring debt to maintain much less to improve U.S. living standards.
02/16/11
The airliner is billions of dollars over budget and about three years late. Much of the blame belongs to the company's farming out work to suppliers around the nation and in foreign countries. The biggest mistake people make when talking about the outsourcing of U.S. jobs by U.S. companies is to treat it as a moral issue. Sure, it's immoral to abandon your loyal American workers in search of cheap labor overseas. But the real problem with outsourcing, if you don't think it through, is that it can wreck your business and cost you a bundle. Case in point: Boeing Co. and its 787 Dreamliner.
02/16/11
SPOONS and forks, the metal flatware that everyone uses, are no longer made in the United States. The last factory in an industry stretching back to colonial times closed eight months ago in Sherrill, N.Y., a small community in the foothills of the Adirondacks, and 80 employees lost their jobs.
02/16/11

To put Americans back to work, the federal government must change tax policies and create incentives for companies to build new factories in America instead of Asia, according to Paul Otellini, CEO of Intel Corp, the computer chip maker.

02/15/11
The expiration of a program that supports those left jobless by trade pacts threatens to fracture the coalition of lawmakers backing trade accords with South Korea, Colombia and Panama, according to The Wall Street Journal
02/15/11
Outsourcing by U.S. technology companies is on the decline, according to a survey by BDO USA, the accounting and consulting organization. About 35 percent of the one-hundred chief financial officers (CFOs) of the companies surveyed indicated that their firms are currently outsourcing services or manufacturing outside the U.S. -- down from a high of 62 percent in 2009, and a slight decline from the 37 percent decline in 2010.
02/15/11
The rise of the high-speed Internet, a bought-and-paid-for U.S. government and million-dollar executive pay that is not performance related are permitting greedy and disloyal corporate executives, Wall Street and large retailers to dismantle the ladders of upward mobility that made America an "opportunity society."
02/12/11
The U.S. trade deficit with China hit a record $273 billion in 2010. No wonder – China does everything it can to keep American goods and services out even as it floods the US with job-killing imports. It hits American steel with an import tax, and a Chinese state-owned company that processes electronic payments for credit cards has a virtual monopoly, shutting out a US supplier. The Obama Administration is taking its case to the World Trade Organization after talks with Beijing went nowhere. Good luck there.

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