first, how important i thought his insourcing argument was, i think this is an important economic and patriotic message to tell the american people and after i told him we have a situation here in wisconsin where the republican attorney general, republican governor have decided that they don't want this money that was clearly intended for communities and individuals that were adversely affected by the mortgage foreclosure crisis, he doesn't want them to have the money under his discretion. he wants to put it in the budget problems that he created himself. so i wanted the president to know that, i want to follow up with the staff. i don't know what we can do. what i have been doing is taken to the court of public opinion to let people know they have to contact this governor and this attorney general and say that money should go to communities and individuals who have been adversely affected by the mortgage foreclosure crisis. >> i got to ask you quickly what did the president say when he found out that that money was going to a state budget and not target forward what it was intended f

more and more companies like master lock are now insourcing. deciding that if the costs of doing business here isn't too much different than the cost of doing businesses in places like china, then why wouldn't you rather do it right here in the united states of america? right now. why not put some americans to work? companies would rather bet on the country with the best colleges and universities to train workers, with new skills and produce cutting-edge research. they'd rather place their bet on the nation with the greatest array of talent and ingenuity. the country with the greatest capacity for innovation that the world has ever known. and during the state of the union, i issued a challenge to america's business leaders. folks like john. i said, ask yourself what you can do to bring jobs back to your country. and your country will do everything we can to help you succeed. and since then, a number of companies, large and small, domestic, but also even some foreign companies have said they now plan to open new facilities and create new jobs ri

and it's one of the reasons why companies have looked at insourcing, that is, bringing production closer to home, and notwithstanding your criticism of mr. malaly, ford has announced it's bringing its production of ford fusions from mexico back to the united states as an example of insourcing. the president had an event at the white house about three weeks ago to highlight about a dozen companies that have insourced work back into the united states. but the other point on technology transfer that lyle mentions is also very true. and you see multi-national companies, and you see companies like boeing and general electric willing to give away some of this technology to get potential market share in large markets like china. and the challenge with that is that ultimately that means the production jobs are going to go overseas, the innovation jobs are going to go overseas, and we're going to be competing against that technology that we've been transferring to japan or to china. companies that stand up to it find themselves locked out of the market and i'll give you one example. general motor

more and more companies like masterlock are now insourcing, deciding that if the costs of doing business here isn't too much different than the cost of doing businesses in places like china, then why wouldn't you rather do it right here in the united states of america? why not in why not put some americans to work? companies would rather bet on the country with the best colleges and universities to train workers, with new skills and produce cutting edge research. they'd rather place their bet on the nation with the greatest array of talent and ingenuity, the country with the greatest capacity for innovation that the world has ever known. during the state of the union, i issued a challenging to america's business leaders. folks like john. i said, ask yourself what you can do to bring jobs back to your country. and your country will do everything we can to help you succeed. and since then, a number of companies, large and small, domestic but also even some foreign companies have said they now plan to open new facilities and create new jobs right here in america. which is still the largest

you heard him get a little bit of an applause talking insour insource -- insourcing, jobs.ter lock is a manufacturer of a lot of products. it had been outsourced overseas. with that, let me continue right along with you. i'm brooke baldwin ma. let's get you caught up with things making news here. rapid fire. let's go. >>> big story today, that being iran. iran now bragging about its newest nuclear accomplishments today. president mahmoud ahmadinejad went on television to show off these new fuel rods being loaded here into a reactor in tehran. this is all iran's attempt to eventually enrich uranium. one of the questions is what's the u.s.' reaction to the news today? here's what we're hearing from the state department. this is part of a briefing just in the last hour. >> it is absolutely clear that iran is clearly feeling the pressure of its international and diplomatic isolation of t, e increasing economic pressure on it, pressures that are growing that the community is continuing to strengthen. with that today, we frankly don't see a lot new here. this is not big news. in

away the incentive to relocate overseas and reverses that and creates incentives for companies to insource again in the united states-- a trend that the president believes is very important to our economic future. >> reporter: under current law u.s. companies can put off paying taxes on their overseas profits until they bring that money back to the united states. in practice, that means a lot of the overseas profits u.s. companies make are never taxed. even so, alex brill, an economist at the american enterprise institute, thinks the minimum tax is a mistake. he says the tax code should make it easy for businesses to invest wherever they need to, at home or abroad. if u.s. businesses succeed overseas, brill says they will have more resources to invest everywhere. >> ultimately, that's going to result in more manufacturing jobs, more research jobs, more accounting jobs, here in the united states. >> reporter: there is growing bipartisan agreement on capitol hill that the u.s. needs to lower its corporate tax rate to keep up with other countries that have been lowering rates on corporate pro

it was the president of the united states raised insourcing discussion. before i get to regulatory reform i want to ask a basic question as a layperson which is, jeff, you and i talked about this in the past where is the demand coming from whether for an airplane? i get on airplanes seems like they're all bankrupt. are they buying new aircraft or only dubai they're buying aircraft? what about nuclear reactors. >> 95%, sorry about jumping in, 95% of the world's consumers live outside the united states and 70% of the gdp is outside the united states so that's, used to be, when jeff and i grew up if you won in the nights you would win globally. today it's the opposite. you need to win globally and then because you're facing the same global competitors in the united states. it is a different deal. >> jimmy, the last decade, david, the last decade from boeing and fe, we sell a lot of engines to boeing. without emirates, all the chinese airlines, all the latin american airlines, you know our companies would be a fraction of the size. i think to andrew's point,

directly related but i was fortunate enough to participate in a white house conference on wednesday on insourcing, on basically how and can we bring manufacturing back into the state of oregon and into the united states. and it is very, very interesting how many people are thinking about that. folks from -- folks that make the otis elevators that had manufacturing in mexico that brought it back because it separated manufacturing from r&d. when you figure transportation costs and other issues it's no longer pencilling out quite as well. the access to capital side, but also to be intentional and aggressive trying to bring some of the manufacturing that's gone offsore back to the united states, particularly to the state of oregon. >> good afternoon, chris andrea, city club member. a lot of the people that i listen to were concerned about the elliot state forest decision and do have abiding questions about the way that we have tied funding for rural schools to oregon's forests. i understand that some people have -- 90% of our forests are gone. that law came into effect when we had more trees and fewe

clearly anything we can do to insource, i mean active guard and reserve, is effort well-spent. >> the other thing gives training to the person we're trying to cycle back into the private sector so it has a two-fold purpose. i think you all realize the sensitivity what we're dealing with here. trying to make sure we give you what is needed to keep this country safe and free. on the other hand the responsibility of, and general mull linls said our greatest threat is basically our own finances. so we're taking all that serious. we need your help. we think contracting, if we can downsize the contracting, reinforce the military and people in uniform, i think you will have us all on both sides, you might bridge the gap that we can't bridge. >> senator, if i can just comment. look, i think the defense department has stepped up to the plate and what we proposed here is real. it's well-thought out. we've done a strategy to back up our decisions and that, all of that is contained in our recommendations but i really would urge you and others to engage in the broader discussion that has to take p

from outsourcing to insourcing. 1970s, we focused on low cost countries but by 2008, we began to re-assess that approach and consider total cost, not just labor cost. as we looked at transportation, supply chain complexity, rising wages in developing countries and the impact of losing core competencies, we found that the factories in our largest market, the united states, could be competitive with factories anywhere else in the world. let me tell you about four key elements that align to make this conclusion possible. first, manufacturing innovation, we're transforming the way we work, adopting lean design in manufacturing methods. just last week, we launched the geospring hybrid water heater, the first new product in 50 years to be manufactured at appliance park in louisville, kentucky. it was designed by a team of product engineers, factory layout specialists and production workers who brought both commonsense and real world technology skills to their jobs. by the way, i invite you to check out our new hybrid wate

we've got an opportunity to create new american jobs and american manufacturing. >> but insourcing has just around the corner. >> we need jobs, you know, jobs are our most focused, because some hard-working man is still out here, just there's so much we have to -- at that time, it's hard for us to raise our children with the jobs surrounding us? >> it's a desperate situation for some who stood in long lines at a job fair this week in milwaukee. >> i need to be employed. >> there's a lot of pressure on the president to deliver on his economic promises. >> if i don't have this done in three years, then there's going to be a one-term proposition. >> reporter: republicans use every opportunity to give him a failing grade. >> the president's policies are not helping our economy. >> reporter: but a new cnn/orc poll shows that while americans are pessimistic about how the -- the number of people thinking things are going well are on the rise. the president talked about the need to provide tax incentives, to try to entice some of those companies already there to come back, and to help pay for

that the president not only stepped up and helped save the auto industry but also is encouraging insourcing of things that i consume being made in china, let's have them made in america. >> my last comment, major is that every governor and every major is doing everything they can to lure businesses to their particular area. mitt romney did it when he was governor of massachusetts and in his role he picked sectors. he picked winners that he thought were consistent with the strength of massachusetts. he provided tax incentives for those winners, because he thought that was important for his state. you do that as mayor of minneapolis. the idea that you don't pick winners and losers is a lie. >> i'm laughing because one of the tax breaks you did was for film, so grand turreno was written in your home state. so thanks a lot for that one. it was a good thing for michigan by the way. but what the president is saying let's encourage the jobs of tomorrow and build these things here. >> you are a great spokesperson for the president, for the dnc. thanks so much for joining us. that was mayor r.t. ryb

there is -- there are some promising signs of insourcing or resourcing. american companies looking at the rise in costs of doing business abroad, the supply chain uncertainties of disruption, the clang in competition and bringing some stuff back. if we make it more attractive through education policies training policies, through infrastructure policies, through tax policies like the r and and d tax, we can bring more of this production back. >> music to your years, laura tyson, going to be current's economic advisor thank you for joining us from berkeley tonight. up next, is he tilting at windmills or making an important political statement. former governor buddy roemer on why he is running for president. you are not going to want to miss my interview with uaw president bob king on the challenges challenges on the labor movement. the war room. we will be right back. only one who thinks an amendment to the constitution may be in >> g.o.p. presidential candidate bud d.c. roemer has not participated in any of the republican debates. he is not even mentioned

so yeah, the masterlock insourcing american job story has national rest on nance, so does the turn for in wisconsin's own politics. joining now is tammy baldwin, democrat representing the second district and running for the open u.s. senate seat in her state. representative baldwin, thank you for being with us, appreciate you having you here. >>> great to join you, rachel. >> does governor walker have the authority to use that mortgage settlement money at his discretion? can doe whatever he wants with it? >> well, there is certainly a portion of the settlement funds that is going through the states, but it is my belief and i'm absolutely outraged by his statement he will use this to plug a hole in his budget. when clearly the purpose of the settlement was to try to start making people whole again after the fraud and illegal activities that these five banks have engaged in. on monday this week, i was in milwaukee on a block, a residential neighborhood devastated by foreclosure. and house after house was literally boarded up. and you think about the people who perhaps because they lost j

and with his policy jobs can be insourced and brought back through a variety of methods.w before i came over here that he will be doing that with the governor of wisconsin, a republican. he's had some interesting tarmac encounters lately. this should billion another one. >> that's right scott walker who is facing this recall fight to keep his job this year. talk about a state that's going to be completely burned out on competitive campaign politics. that's the business end of this trip, and there's also a campaign end to this trip. tell me about the rest of the three-day trip. >> he's going to be doing fund raising. he's going to be doing the l.a./san francisco stop, which we've been referring to around here as the internet hollywood fight. he's going to be raising money and he's also going to go to seattle. this is a big swing from him. not surprising after the budget release. they wanted to get out on the road and raise money, which gets even more important in this election season. >> i have to say, it's going to be quite the ipod filler here. we have the foo fighters .

and there was decisions that were made about what services should be insourced to the mainline carriersand what were most efficient to be outsourced. and we ended up with a different structured industry than people have probably anywhere else in the world, where these regional carriers are vitally important. >> o'brien: regional carriers were growing rapidly. by 2005, colgan had successfully bid and won flying contracts with continental, us air and united airlines, serving regional markets across the northeast and throughout texas. in just four years, colgan had more than doubled in size. that's a lot of growth to manage there, isn't it? >> a lot of growth for colgan to manage. this has been a lot of growth for the regional sector to manage. from flying a small portion of overall flying to operating 52% of the departures today. you know, it's been a huge transition for the regional sector. >> o'brien: even before the crash of 3407, there were growing safety concerns about the regional airlines. since 2002, the last six fatal commercial airline accidents in the u.s. have all involved reg

our job as a nation is to do everything we can to make the decision to insource more attractive for more companies. >> so you couldn't have a clearer contrast, mike. the president very openly pro-union. pro-union and corporate leaders working together. the other side trying to just outright bust unions and demonize collective bargaining. how is this going to play out in your state? >> well, and that trip that the president took to milwaukee last week, it is dead on. and it's, you know, richard is right. the governor did say hello to the president at the airport but then claimed he had the flu and went home. and it's too bad because he would have heard from before the president spoke, the uaw president and the ceo say they couldn't have brought these 100 jobs from mexico back to milwaukee without working together, without bargaining together. the president clearly has the upper hand here. and i think it was a good lesson that, unfortunately, scott walker didn't learn is that labor and management can work together to create a great working environment for jobs. >> wait a minute. you are sa

expected to go to master lock, a company he praised in his state of the union address, as one that was insourcing jobs, an example of what he's trying to encourage with american business. and he is going to be making those remarks knowing that at this moment at least a lot could change. the wind's at his back, sue. >> thanks, john. appreciate it. straight ahead, the stock market dropping just in the last hour. we're down about 90 points right now. even apple slipping. and the markets have been pretty much teflon. are we headed for trouble though? we're going to kick that around on the other side of a very quick break. weight loss programe expensive. so to save some money, i just got the popular girls from the local middle school to follow me around. ew. seriously? so gross. ew. seriously? that is so gross. ew. seriously? dude that is so totally gross. so gross...i know. there's an easier way to save. geico. fifteen minutes could save you fifteen percent or more. >>> welcome back to "power lunch." rick santelli here on the welcome floor of the cme group in chicago. and everybody's talking about fo

even though -- one of the reasons why we've seen a trend towards insourcing, american companies bringingback to the united states, is when they look at all of the factors that go into deciding where to locate a factory or where to locate a business, other countries may have lower labor prices, but we have a skilled, educated workforce that can bring great value to american businesses, as well as international businesses. we have to keep that up. so he's very committed to education. yes, norah. >> can i return to syria? you were talking about the "friends of syria" meeting that will happen later this week, and part of the goal is making the opposition more "functional" is the word you used. what do you mean, and how would we help make the opposition more functional? >> well, we would work with the "friends of syria" to help stand them up, to cement its organizational capacity, its unity, so that there is an entity in place as this inevitable transition occurs -- because, as we've said in the past, it's not a question of if, but when assad gives up the reins of power in the syria. so we wi

it was the president of the united states raised insourcing discussion. before i get to regulatory reform i want to ask a basic question as a layperson which is, jeff, you and i talked about this in the past where is the demand coming from whether for an airplane? i get on airplanes seems like they're all bankrupt. are they buying new aircraft or only dubai they're buying aircraft? what about nuclear reactors. >> 95%, sorry about jumping in, 95% of the world's consumers live outside the united states and 70% of the gdp is outside the united states so that's, used to be, when jeff and i grew up if you won in the nights you would win globally. today it's the opposite. you need to win globally and then because you're facing the same global competitors in the united states. it is a different deal. >> jimmy, the last decade, david, the last decade from boeing and fe, we sell a lot of engines to boeing. without emirates, all the chinese airlines, all the latin american airlines, you know our companies would be a fraction of the size. i think to andrew's point,

jobs that have been lost in the last decade, but there is a growing trend among some companies to insource bring those jobs back, because wages are rising in china, shipping costs are rise, productivity here in the united states is on the increase, and the value of the american dollar means that it's actually cheaper to produce a lot of goods in the united states than it is overseas in places like japan, china, taiwan and others. mike oberhelman says companies like his need more help if they want to bring back more jobs. listen to what he said: >> we're competing on an international level here. we need things like tax reform, we need things like research and development. we need things like a better education for skilled workers. all of those, of course, we talk about all the time, and they're all known in washington and there are efforts to get that done, but we need to go faster. >> reporter: on the education front, that's a big problem in georgia, as it is in a number of states, just not enough people learning the skilled trades that it takes to build something like this, something that

one of the things we've done, we outsourced our products for many, many years and we focused on insourcingnd creating a manufacturing facility in the u.s. it to service our retail partners better. so we are getting closer to our retail partners with just in time inventory and stuff so that's important to our business models, getting the stuff out the door today and into the retailers' hands. >> yeah, and that is key as we go throughout the rest of the year and the critical holidays and impacting the toy industry and that is a segment of retail so really something important to watch. thank you so much, president of buffalo games to join us today to talk about that. michele will stay with us and we'll get more insight from her. coming up on the show, futures point to a strong open today. that as the vix on friday. will it continue into trade this week? >>> good morning and welcome to the show. the headlines from around the globe today, u.s. futures indicate a strong open after stocks finished friday with the biggest losses of 2012 and the vix spiked above 20. >>> and athens ablaze. a sweepin

of jobs from overseas, insourcing of american manufacturing jobs and other jobs, where american companies are bringing those jobs back to the united states from a variety of places around the world. we think that's a good thing for this country, for this economy. but broadly speaking, trade with india, trade with china, trade with countries all around the world, is vital to global economic growth andest terribly to economic growth in the united states. this president has set a goal of doubling our exports by 2015. we are on track to meet that goal. and this president will do everything he can to enhance and spur economic growth so that we do meet that goal by 2015. >> [inaudible] >> i think -- i'm sure they were, i think it's important to have those kinds of visits. >> demonstrators outside the white house are asking for human rights and justice for people and saying the u.s. should change its policy to china. also there's a concern for human rights and conditions and labor. >> well you know, as i was saying earlier, we take human rights issues very seriously. we are not shy about raising