Think about not only the shareholders, but also the employees, customers, suppliers, and sectors before planning any outsourcing, Congressman Don Manzullo (R-IL) urges America's CEOs at the National Manufacturing Week in Chicago.
Manzullo, also the Chairman of the House Committee on Small Business, told the 200-plus attendants to his "Restoring Manufacturing in America" speech on Monday that today's CEOs are trapped in a culture where they believe outsourcing could cut costs, hence increase stock values of their companies. He warned, however, that such a belief is short-range planning that is leading to long-term losses.
According to the HCSB, the U.S. manufacturing sector has seen 42 consecutive months of significant job losses and unemployed workers number rising to above 2.8 million.
Manzullo suggested that CEOs of U.S. manufacturers--large or small--should "outsource to America."
"There're areas in this nation where people are willing to work $7, $10 an hour," he said. "Outsourcing to America will at least keep the jobs here."
Other solutions that could help restore U.S. manufacturing include requiring federal agencies to buy more American-made products, Manzullo added. The government should also consider raising loan levels for small- and medium-sized manufacturers, which account for more than $1 trillion in receipts, according to a 2001 National Association of Manufacturers study, and employ half of all manufacturing workers, he noted.
The speech by Manzullo was a part of the "Play Your Part" rally by the National Association of Manufacturers.
"This rally will help us raise awareness of the critical importance of a strong manufacturing base to American prosperity, the challenges facing U.S. manufacturers today, and the need for pro-growth public policies that will ensure a vibrant U.S. manufacturing base in the future," said NAM President Jerry Jasinowski in a statement.
For more information on the "Play Your Part" rally, visit www.playyourpart2004.com.