360° Coverage : Obama's sales pitch: We are open for business

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Obama's sales pitch: We are open for business
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Obama's sales pitch: We are open for business

Nov 1 2013, 12:42am CDT | by IANS

Washington, Nov 1 (IANS) Declaring that "We are open for business", President Barack Obama announced what the White House described as the first-ever comprehensive, all hands on deck effort to bring jobs and investment to

Washington, Nov 1 — Declaring that "We are open for business", President Barack Obama announced what the White House described as the first-ever comprehensive, all hands on deck effort to bring jobs...

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1 year ago

Obama's sales pitch: We are open for business

Nov 1 2013, 12:42am CDT | by IANS

Washington, Nov 1 (IANS) Declaring that "We are open for business", President Barack Obama announced what the White House described as the first-ever comprehensive, all hands on deck effort to bring jobs and investment to

Washington, Nov 1 — Declaring that "We are open for business", President Barack Obama announced what the White House described as the first-ever comprehensive, all hands on deck effort to bring jobs and investment to

The US.

"There are a lot of wonderful countries out there. But this is a place where you can do business, create great products, deliver great services, make money, and do good at the same time," he said at a SelectUSA Investment Summit here Thursday.

Calling for a renewed effort to entice job-creating foreign businesses to open shop in the US through aggressive expansion and enhancement of SelectUSA, Obama pledged help from the government, US ambassadors and the president's office

Asking attending entrepreneurs to "Select the USA" he said: "When you do . You'll find a government, and a President who is committed to helping you create more good jobs for the middle class, and helping you succeed well into the 21st century."

Obama announced he would expand and enhance the SelectUSA programme, which was launched in 2011 to coordinate state and local incentive programmes to attract overseas companies.

He joked that he often tells company executives that when he leaves the While House he should be given a gold watch from various firms for his salesmanship. But he pledged he would ramp up his own efforts to attract more job-creating companies to the United States.

The effort to sell the country as the place to do business would start "at the highest levels, including me," Obama said. "We are the land of opportunity. That's not a myth. It's a proven fact."

Attended by 1,200 federal and state officials and some of the world's top CEOs from nearly 60 countries, the summit is focused on the advantages of investing in America and the importance of foreign direct investment as a source of job creation and economic growth in the US.

In a separate statement, White House said the administration would start an "all hands on deck effort" to secure jobs and investment from around the world, starting with an "aggressive expansion and enhancement of SelectUSA."

"For the first time, domestic and overseas teams at [the Departments of] Commerce and State will make recruiting business investment one of their core priorities, alongside their traditional focus on export promotion and commercial advocacy," the White House said.

A report prepared by the Department of Commerce and the President's Council of Economic Advisers noted the US has been the world's largest recipient of foreign direct investment (FDI) since 2006.

In 2012, net US assets of foreign affiliates totalled $3.9 trillion. The US consistently ranks as one of the top destinations in the world for foreign direct investment (FDI), with inflows totalling $1.5 trillion in FDI just since 2006. For 2012, FDI inflows totalled $166 billion.

(Arun Kumar can be contacted at arun.kumar@ians.in)

IANS

Source: IANS

 
Update
11

2 weeks ago

Seven Obamacare Bills That The New GOP Senate Majority Should Pass In 2015

Nov 5 2014 1:29am CST | Source: Forbes Real Time

Republicans have retaken the Senate in the 2014 midterm elections. As of this writing, Republicans will gain somewhere between 7 and 9 seats—depending on what happens in Louisiana and Alaska—for a total of 52 to 54. The new Republican majority will doubtless hold a symbolic vote to repeal Obamacare. But more importantly, Republicans will now be able make smaller changes to the health law that President Obama might actually sign into law. Here are some of the possi ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
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Democrats knew they were in trouble on election night Tuesday when a Virginia Senate seat that was expected to be a blowout victory began to come in much closer than expected. "When you're cheering for an eke-out win in Virginia, not going to be a good night," one Democratic strategist told Business Insider.  Another Democratic insider summed up their impression of the evening's results in a rather blunt text. "Fucking. ...
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Update
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Republicans retook the Senate in Tuesday’s midterm elections, delivering a stinging blow to President Barack Obama’s party amid lingering worries over the economy and the president’s own unpopularity. ...
Source: MarketWatch   Full article at: MarketWatch
 

 
Update
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2 weeks ago

U.S. midterm elections 2014: Republicans toast conquest of Senate but final results could take weeks

Nov 4 2014 11:05pm CST | Source: National Post

Republicans confidently toasted their conquest of the U.S. Senate Tuesday night, but with races too close to call everywhere from Alaska to Louisiana, it may take weeks of vote tallies and runoff elections before the United States electorate knows for sure. While the Democrats were able to hold onto key seats, early results indicated a definite shift towards the Republican Party. In Colorado, Republican Cory Gardner became the first to unseat an ...
Source: National Post   Full article at: National Post
 

 
Update
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Republicans exploit bitter disappointment in Obama to take control of the Senate

Nov 4 2014 10:58pm CST | Source: National Post

Republicans exploited bitter disappointment with Barack Obama to seize full control of Congress Tuesday in America’s most expensive midterm election ever, teeing up what could be a tumultuous end to the president’s final term. The GOP were reported to have 52 seats — and a majority in the Senate — to the Democrats 44 seats, by the major news networks by 11.30 p.m. They could pick up more seats in the days and weeks to come as the final re ...
Source: National Post   Full article at: National Post
 

 
Update
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2 weeks ago

Harry Reid Congratulates Mitch McConnell On Becoming Majority Leader

Nov 4 2014 10:52pm CST | Source: Business Insider

Current Senate Majority Leader Harry Reid congratulated Minority Leader Mitch McConnell Tuesday night, after Republicans clinched wins in enough seats to retake control of the US Senate.  "I'd like to congratulate Senator McConnell, who will be the new Senate Majority Leader," Reid said. "The message from voters is clear: they want us to work together. I look forward to working with Senator McConnell to get things done for the ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
4

2 weeks ago

U.S. midterm election 2014: Republicans on track to make small House gain

Nov 4 2014 10:47pm CST | Source: National Post

Any ambition the Democrats may have had to regain control over the U.S. House of Representatives dimmed weeks ago when polling began to show that U.S. President Barack Obama’s party stood poised to lose the senate. Indeed, while much of the drama continued to play out among the 33 senate seats up for grabs on Tuesday evening, the Republicans were on track to make small gains in the House, as of press time. Republicans had flipped four seats and secured 180, compared to the Democr ...
Source: National Post   Full article at: National Post
 

 
Update
3

2 weeks ago

Republicans win US Senate majority: TV networks

Nov 4 2014 10:34pm CST | Source: Business Insider

Washington (AFP) - Republicans captured a majority in the US Senate Tuesday in a sweeping midterm election victory that delivers a rebuke to President Barack Obama's Democrats.With a win in Iowa, the Republican party picked up at least six Senate seats to guarantee at least 51 members of the 100-member chamber, TV networks said, while projecting an increasing in the GOP majority in the House of Re ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
2

2 weeks ago

Republicans Have Taken Over The Senate With Victory In Iowa

Nov 4 2014 10:32pm CST | Source: Business Insider

Republicans appear poised to takeover the U.S. Senate after the Associate Press called the race in Iowa  for Republican Joni Ernst (R) over Rep. Bruce Braley (D) Tuesday night. The Iowa race was one of the most important ones in the country for Democrats, who had once expected to hold the seat of outgoing Sen. Tom Harkin (D) in a state twice won by President Barack Obama. This made the state one of two pickups in tossup ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
1

2 weeks ago

The Biggest Surprise Of The Night Is Happening In Virginia...

Nov 4 2014 9:28pm CST | Source: Business Insider

Republican candidate Ed Gillespie has mounted a surprisingly strong challenge to incumbent Democratic Sen. Mark Warner in Virginia, a development that has stunned political observers in an election-night surprise.  As of 10:20 p.m. ET, according to The Associated Press, Gillespie was leading by just more than 7,000 votes with 96% of precincts reporting. The bulk of the votes left to be counted were in Fairfax County, which is expected to favor Warner.  Gillespie, a former lobbyist and c ...
Source: Business Insider   Full article at: Business Insider
 

 

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