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The Obama administration on Tuesday picked Mark Jaskowiak to take over as staff chairman of the inter-agency group charged with overseeing international investment in the United States.
Jaskowiak, who has served on an acting basis for 11 months, will formally take over as deputy assistant secretary for investment security at the Treasury Department, the lead agency in the Committee on Foreign Investment in the U.S. (CFIUS).
"Part of the reason for creating the spot [of deputy secretary] was making sure that there was important information shared with relevant people in the administration and with the relevant people on Capitol Hill," said Nancy McLernon, the president and CEO of the Organization for International Investment (OFII), which represents the U.S. subsidiaries of foreign firms.
The deputy assistant secretary for investment security job should be "connecting politics with the facts so that there is no knee-jerk reaction," McLernon added.
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OFII Outside Economic Advisor Matthew Slaughter Urges Government Leaders To Stop Handcapping US Businesses with Antiquated Policies and Look At the Reality of A Global Economy.
In a letter to the Wall Street Journal, Mr. Slaughter suggests that, "President Obama's recent soundbites suggest an uncompetitive auto industry."
By Matthew J. Slaughter--
As Chrysler fell into bankruptcy last week, with GM perhaps close behind, President Barack Obama and other government leaders were dispensing advice to the auto industry. Unfortunately, much of this advice ignores the dynamism of today's global economy.
Start with the following from Mr. Obama last Wednesday: "I'm not an auto engineer...But I know that if the Japanese can design an affordable, well-designed hybrid, then doggone it the American people should be able to do the same."
Actually, doggone it, no.
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Washington, D.C.--
Estimates released by the U.S. Department of Commerce show record increases in Foreign Direct Investment (FDI) in 2008. Premlinary data shows $325.3 billion of FDI in 2008, up from the previous record of $321.3 billion in 2000 and a 37% increase over 2007 of $237.5 billion. Backing up the data, a new OFII report confirms 875 new Greenfield projects were underway or expanding last year.
"The U.S. economy is thirsting for new capital and investment," said Nancy McLernon, President & CEO for the Organization for International Investment. "This isn't a mirage; it's a deep well of insourcing firms that are committed to bringing jobs to the United States. Policy makers should avoid isolationist policies that would discourage these companies from continuing to invest in the U.S. and 'insource' jobs."
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