Exporting America

Book excerpt: Carrier, maker of air-conditioning and heating units, closes its New York plants and most of its 1,200 jobs go to Singapore and Malaysia. Maytag shuts its factory in Illinois and moves 1,600 jobs to Reynosa, Mexico. IBM announces growth and new jobs and then outsources 90 percent of them, 15,000 in all...while competitor Microsoft contributes USD2 billion to India's economy with jobs. With the pay of corporate CEOs at historical highs and American job creation at the lowest level since the Depression, corporations are laying off blue-collar factory workers and white-collar professionals alike purely to cut costs. Thousands of quality jobs are lost every month, jobs that will be performed by people in China, India, Eastern Europe and elsewhere at a fraction of what American workers earn. For covering this devastating, unprecedented trend, Lou Dobbs has come under attack by both Democrats and Republicans.