Open

Coming up

Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Abbas Araghchi, Iranian deputy foreign minister

Read more

THE OBSERVERS

More of this year's best Observers stories

Read more

FOCUS

When water becomes a weapon of war

Read more

ENCORE!

Eve Ensler: 'In The Body Of The World'

Read more

THE INTERVIEW

Ed Husain, Author of 'The Islamist'

Read more

DEBATE

Pakistan Protests: Democracy put to the test

Read more

DEBATE

Pakistan Protests: Democracy put to the test (part 2)

Read more

REPORTERS

Pakistan: Imran Khan, from the cricket field to politics

Read more

MEDIAWATCH

Is Carla Bruni against a political comeback for Sarkozy?

Read more

  • NATO plans new 'spearhead' force to counter Russia

    Read more

  • French clubs left behind as others spend big

    Read more

  • Video: Bodies ‘left behind’ as Ukraine forces flee rebel assault

    Read more

  • When water becomes a weapon of war

    Read more

  • Arab media strike back at IS Islamists – with cartoons

    Read more

  • US military targets Somalia's al Shabaab Islamist group

    Read more

  • Eve Ensler: 'In The Body Of The World'

    Read more

  • Boko Haram Islamists seize northeast Nigerian town

    Read more

  • Is Carla Bruni against a political comeback for Sarkozy?

    Read more

  • Monaco’s Falcao leaves Ligue 1 for Man Utd

    Read more

  • UN backs Iraqi request for inquiry into IS militant crimes

    Read more

  • French education ministry picture sparks racist abuse

    Read more

  • Obama calls for higher wages amid 'revving' US economy

    Read more

  • Video: Ukraine’s children return to school as fighting rages on

    Read more

  • Americans detained in North Korea call for US help

    Read more

  • US urges Israel to reverse West Bank land seizure

    Read more

  • Lesotho PM calls for regional peacekeeping force after ‘coup’

    Read more

  • Ukrainian forces retreat from Luhansk airport after clashes

    Read more

  • Teddy Riner, France’s unstoppable judo champion

    Read more

Americas

Obama to pick top Treasury official to revive US manufacturing

Text by NEWS WIRES

Latest update : 2009-09-07

President Barack Obama will nominate top Treasury Department official Ron Bloom to lead an effort to revitalise America's beleaguered manufacturing industry at a Labour Day event in the US city of Cincinnati on Monday.

REUTERS - President Barack Obama plans to announce on Monday that he has named a top Treasury Department official, Ron Bloom, to lead an effort aimed at revitalizing America's hard-hit manufacturing industry.

 

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. Bringing an invigorated manufacturing base back to America was a campaign pledge of Obama last year.

 

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.

 

Bloom will travel with Obama on a visit to Cincinnati on Monday, the Labor Day holiday, where the president will speak at an event held by the AFL-CIO labor organization.

 

The White House said in a statement issued on Sunday that Bloom is to work with government departments including Commerce, Treasury, Energy and Labor to develop new initiatives affecting the manufacturing sector.

 

The White House said Obama is committed to partnering with the private sector to spur innovation, invest in the skills of American workers, and help manufacturers prosper in global markets by promoting exports.

 

Bloom's appointment follows news that the U.S. manufacturing sector had expanded for the first time in 18 months and had the highest monthly output in two years.

 

"It's a sign that we're on the right track to economic recovery, but that we still have a long way to go," Obama said in the announcement.

 

"We must do more to harness the power of American ingenuity and productivity so that we can put people back to work and unleash our full economic potential."

 

Bloom said in the statement that a strong manufacturing sector is a cornerstone of American competitiveness.

 

"As we meet the challenges of globalization and technological change, it is vital to have a concerted effort across the administration to support an innovative, vibrant manufacturing sector," Bloom said.

 

Prior to joining the Obama administration, Bloom was a special assistant to the president of the United Steelworkers Union. His responsibilities included the union's collective bargaining program.

 

Prior to joining the Steelworkers, Bloom was one of the founding partners of Keilin and Bloom, an investment banking firm, where he was involved in numerous transactions on behalf of the Steelworkers, the Auto Workers, the Teamsters, the Air Line Pilots Association and other unions.

 

Before founding Keilin and Bloom, Bloom was a vice president at the investment banking firm of Lazard Freres & Co. where he specialized in analyzing, structuring and raising financing for union-led employee-ownership transactions.

 

Date created : 2009-09-07

COMMENT(S)