WHAT: Briefing: How U.S. Multinationals Strengthen
the Domestic Economy
WHO: Matthew Slaughter, Tuck School of Business,
Dartmouth
Terry McGraw, CEO of The McGraw-Hill Companies
Bill Parrett, chairman, United States Council
for International Business
WHEN: Thursday, May 14, 2009
11:00 a.m. - 12:00 noon
WHERE: Pillsbury Winthrop Shaw Pittman LLP
1540 Broadway, New York City
MEDIA: RSVP REQUIRED BY 5 PM, WEDNESDAY, MAY 13
Contact Roya Bell, rbell@uscib.org or 212-703-5063
As the Obama administration pursues changes to the taxation of overseas
earnings, it is important to examine the role of global companies in U.S.
competitiveness. A new study published by the United States Council for
International Business and the Business Roundtable concludes that, far from
shipping jobs overseas, U.S. multinational companies make America's economy
stronger.
"How U.S. Multinational Companies Strengthen the U.S. Economy," by Matthew
J. Slaughter of the Tuck School of Business at Dartmouth, dispels many of
the myths about America's global companies. At this timely briefing, Prof.
Slaughter will discuss his findings with USCIB members and the media.
Introduction and comments by Terry McGraw of The McGraw-Hill Companies and
USCIB Chairman Bill Parrett.
The study presents compelling evidence that U.S. multinationals:
-- enhance the American economy through substantial capital investments,
R&D expenditures and creation of high-quality jobs
-- highly concentrate their worldwide operations in their U.S. parents,
not abroad in foreign affiliates
-- pay their average U.S. worker substantially more than the rest of the
private sector
-- maintain overseas operations that tend to complement, not substitute
for, key parent activities in the U.S., and concentrate these operations in
other high-income countries.
The full text of Prof. Slaughter's paper is available at
www.uscib.org/docs/foundation_multinationals.pdf. For comment on the
policy implications of this study or to arrange an interview with the
author, contact Jonathan Huneke (212-703-5043, jhuneke@uscib.org).
USCIB promotes open markets, competitiveness and innovation, sustainable
development and corporate responsibility, supported by international
engagement and prudent regulation. Its members include top U.S.-based
global companies and professional services firms from every sector of our
economy, with operations in every region of the world. With a unique
global network encompassing leading international business organizations,
USCIB provides business views to policy makers and regulatory authorities
worldwide, and works to facilitate international trade and investment.
More information is available at www.uscib.org.
Contact Information: Contact: Jonathan Huneke 212-703-5043 ).