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Article Source: The Boston GlobeAs a group, multinational companies with current or former chief executives on Obama's jobs council have, over the past four years, almost doubled the cumulative amounts they have reinvested overseas, according to data compiled by Bloomberg.
"That's a signal that they are betting less on America,'' Reich said.
"We've got to understand there's a fundamental difference between the competitiveness of these companies and the competitiveness of America and American workers.''
Jim Owens, former Caterpillar Inc. chairman and CEO, who is not on the council, said large US-based companies generally are expanding overseas investments because economic growth rates in emerging markets offer better opportunities. Executives from those companies can offer the Obama administration useful advice on making the United States more competitive, he said.
“The reality is that corporations make investments to the best advantage of their shareholders,’’ Owens said.
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