One must love our Benedict Arnold corporations. In the Economic Stimulus package currently being crafted in Congress, the U.S. chamber of Commerce, G.E. and Catepiller are trying to strip out the Buy American provisions in the bill.
Ok, the U.S. is in trouble and we are going to use U.S. taxpayer funds to stimulate our economy....
therefore our U.S. corporations try to fight support of U.S. manufacturing, goods, raw materials and demand they do not have to buy materials and supplies from other American companies.
In Corporate Citizen - an Oxymoron?, are some policy recommendations to get our corporations and businesses in line with the United States national interest.
Bloomberg seems to be the only financial press reporting on our lovely Benedict Arnold Corporations and GE....they were one of the first to squeeze their workers and arbitrage:
General Electric Co. and Caterpillar Inc. are among U.S. exporters that oppose “Buy American” provisions in the $825 billion stimulus legislation, saying it might spark a trade war.
The companies say that proposals pushed by companies such as U.S. Steel Corp. and Nucor Corp. to limit spending in the stimulus plan to American-made iron and steel risk igniting retaliation from other countries.
“You would be creating an ample basis for countries to close their markets to U.S. products,” said Karan Bhatia, GE’s senior counsel for international law in Washington, in an interview. Fairfield, Connecticut-based GE, the world’s biggest maker of jet engines and locomotives, gets half its sales from outside the U.S.
Of course they try to get our dirty word in, protectionist.