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Obama names Treasury official to spur manufacturing
Obama names Treasury official to spur manufacturing
Posted Tuesday, Sep 8, 2009, 1:00 pm in Employee News
President Barack Obama on Monday named a top Treasury Department official, Ron Bloom, to lead an effort aimed at revitalizing America’s hard-hit manufacturing industry, Reuters reported.
The U.S. manufacturing industry has lost hundreds of thousands of jobs in recent years to overseas competition as some U.S. businesses have relocated abroad to take advantage of cheaper labor, the news service said. Bringing an invigorated manufacturing base back to America was a campaign pledge of Obama last year, Reuters said.
Bloom will retain his role as a senior advisor to Treasury Secretary Timothy Geithner assigned to Obama’s task force on the U.S. automotive industry, the news service said. The White House said in a statement issued on Sunday that Bloom will work with government departments including Commerce, Treasury, Energy and Labor to develop new initiatives affecting the manufacturing sector, the story said. (Reuters)
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