Home / Knowledge / News / CPA supports the BEA's self described mission
CPA supports the BEA's self described mission
Aug '08
38 organizations representing U.S. manufacturing, labor, and agricultural interests sent a letter to the chairmen of four congressional committees (2 House and 2 Senate) urging Congress to reverse the U.S. Commerce Department's Bureau of Economic Analysis (BEA) decision to cease its survey of tracking new foreign direct investment in the United States now contained in its “New Investment Series.”

Without this data, the U.S. government and the American public will no longer be able to distinguish between foreign direct investments (FDI) used to acquire existing U.S. assets worldwide from FDI actually used to establish new U.S. businesses.

“Americans need a clear picture of what is happening with their economy,” said American Manufacturing Trade Action Coalition Executive Director Auggie Tantillo. He encouraged Congress to act swift on the FDI reporting issue and continued, “The fact that 90 percent of U.S. FDI is American companies and assets changing ownership to foreign hands signals that America effectively is servicing its debts by selling off many of its most profitable assets.”

“It is imperative that the U.S. Department of Commerce accurately account for all aspects of foreign direct investment in this country and not shortchange this important reporting process,” added Jerry Call, Executive Vice President of the American Foundry Society (AFS). “We need a clear picture of whether the foreign direct investment is for new start ups or acquiring established U.S. businesses.”

Brian O'Shaughnessy, Chief Co-Chair and Manufacturing Co-Chair of the Coalition for a Prosperous America (CPA), concluded, "The CPA supports the BEA's self described mission which is promoting: 'a better understanding of the U.S. economy by providing the most timely, relevant, and accurate economic accounts data in an objective and cost-effective manner.' We are confused about this as the BEA proposal runs counter to that mission, and expect the Congress to reverse it."

American Manufacturing Trade Action Coalition

Must ReadView All

Courtesy: Walmart

Apparel/Garments | On 23rd Mar 2017

Walmart acquires ModCloth

Walmart has acquired the assets and operations of ModCloth, one of...

Textiles | On 23rd Mar 2017

SIMA advises mills to avoid panic buying of cotton

The Southern India Mills' Association (SIMA) is advising mills to...

Apparel/Garments | On 23rd Mar 2017

Tulip Retail, True Fit personalise in-store shopping

Tulip Retail, a mobile application platform built exclusively for...

Interviews View All

C Kamatchisundaram

ITME is an occasion not only to receive new leads but also to work on...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search