Former Labor Secretary Robert Reich to Speak at CFO Offshoring Conference
Former Secretary of Labor Robert Reich will join CFO’s Offshore Outsourcing Symposium
CFO Magazine
April 22, 2004

It was announced today that former Secretary of Labor Robert Reich will join CFO’s Offshore Outsourcing symposium as a special guest speaker on Thursday, June 17, 2004, at the Metropolitan Club in New York City.

Mr. Reich’s speech will be entitled “Globalization is Not What You Think It Is.” Some observers may be surprised to hear what this official from a Democratic administration has to say about the hotly-debated offshoring issue:

“Outsourcing isn't to blame for the slow recovery. The jobs recovery has been anemic because there hasn't been enough demand to restart the jobs machine."

“Despite the long-term trend toward outsourcing IT jobs, there will continue to be plenty of IT work in the United States in years to come. In the next five years, outsourcing won't amount to much. At most, we're talking about a few hundred thousand jobs subtracted from an American labor market that is likely to generate 10 million new jobs."

“Among the worst things the government could do is a ban on outsourcing—that would only put American companies at a competitive disadvantage. The move in Congress to bar federal contracts from being outsourced to other lower-cost countries is a silly political ploy."

“Any job that's even slightly routine is disappearing from the U.S. But this doesn't mean we are left with fewer jobs. It means only that we have fewer routine jobs. When the U.S. economy gets back on track, many routine jobs won't be returning -- but new jobs will take their place. A quarter of all Americans now work in jobs that weren't listed in the Census Bureau's occupation codes in 1967. Technophobes, neo-Luddites, and antiglobalists be warned: You're on the wrong side of history. You see only the loss of old jobs. You're overlooking all the new ones.”

Mr. Reich, now a Professor of Social and Economic Policy at Brandeis University, joins Prof. Thomas Davenport of Babson College, Len Rinaldi, a CFO at Lucent Technologies, and other distinguished speakers and panelists at the one-day CFO conference. “It’s an event designed to help you discern the difference between answers and dogma, between risks and rewards,” according to Mary Driscoll, president and editorial director of CFO Executive Programs.

Early-registration discounts are in effect through May 14. Additional information can be found on the conference web site:

Executive Programs is a unit of CFO Publishing Corp., the publishers of CFO magazine. It produces several conferences annually for senior corporate finance executives.