The Multinational Monitor


G L O B A L   N E W S W A T C H

Westinghouse Keeps Up Pressure to Save Exim Bank from Cuts

With the U.S. Export-Import Bank a possible target of federal budget cuts, at least one heavyweight corporate beneficiary of Exim loans is rallying around the cause.

Westinghouse's international vice president John C. Marous, Jr. lauded Exim in an editorial published by The New York Times on November 1. "For every $100 million of exports financed by the Exim Bank, 4;000 or more Americans keep their jobs," Marous declared. "The Exim Bank is a direct instrument of American self-interest in a world of deepening export wars. The intelligent course is not to cut its lending capabilities, but to expand them."

Neither Marous nor the Times' editorial staff mentioned that Westinghouse ranks first by dollar value in the list of corporations whose overseas business is financed by Exim. In 1980, purchases of Westinghouse equipment worth $504 million were paid for by countries and firms abroad using Exim loans.

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