The Increasing Irrelevance of Corporate Nationality by Robert Reich

[Crewleader]

The Increasing Irrelevance of Corporate Nationality

Monday, July 28, 2014

by Robert Reich

“You shouldn’t get to call yourself an American company only when you want a handout from the American taxpayers,” President Obama said Thursday.

He was referring to American corporations now busily acquiring foreign companies in order to become non-American, thereby reducing their U.S. tax bill.

But the President might as well have been talking about all large American multinationals.

Only about a fifth of IBM’s worldwide employees are American, for example, and only 40 percent of GE’s. Most of Caterpillar’s recent hires and investments have been made outside the US.

In fact, since 2000, almost every big American multinational corporation has created more jobs outside the United States than inside. If you add in their foreign sub-contractors, the foreign total is even higher.

http://robertreich.org/post/93122315065

[kentuck]

1. And when they bailed out GM in 2009...

GM had record profits overseas. It was their American counterparts that were not making money.