Wednesday, June 14, 2006

Palestinian billionaire creating American jobs while President Bush outsources


244 Madison Ave. #254, New York, NY 10016
Contact: David Schwartz Ph: 201-236-9990


(NEW YORK, NY) -- Outsourcing American jobs overseas has had unwavering support by the Bush Administration, US Chamber of Commerce, and major business think tanks. Then why is a foreign billionaire dead set on creating jobs right here in America for Americans? Samih Darwazah, a Palestinian-born, self-made business tycoon, can't figure why American companies are laying off millions of workers and shipping their jobs out of the US.

It's especially puzzling because Darwazah's own company, Hikma Pharmaceutical, loves building in America and hiring American workers. Hikma has already built and is expanding one plant in Eatontown, New Jersey, and is planning a second one in the US. "America has the world’s best educated and disciplined work force," said Darwazah. "Americans may cost more to hire, but their productivity is far better. It’s a huge mistake to weaken the American work force. America could pay dearly for this in the long term." Forrester Research projects that 3 million more high-paying white-collar jobs will be sent overseas in less than a decade. Off-shoring (the term for outsourcing jobs overseas), once limited to manufacturing jobs, has now spread to all of America’s workforce. The Economic Policy Institute warns of "the very real risks off-shoring poses to [America's] living standards." This particular trend of globalization worries Darwazah, especially since it might weaken America and her position in the world. That may seem odd to some people who see any Arab or Palestinian as an enemy. But for Samih, it's not odd at all. It's downright personal. In fact, Darwazah himself is a prime example of America’s foreign-policy gone right. American aid led to his education in Jordan and his becoming a Fulbright Scholar. Samih and his family then came to America (legally), where he worked as a pharmaceutical rep. Eventually, he parlayed those US-provided opportunities into mega-success. Now he believes because America invested in his future that he should be investing in America’s.

"There may come a time in the near future that no job in America will be safe from this pernicious practice of off-shoring and that’s a shame," said Darwazah. "America is the world leader and a weak America makes for an unstable, dangerous world." American business schools, such as Harvard and Columbia, are now paying close attention to Darwazah and even study his business model. His book, "Building a Global Success," has been endorsed by the Deans of both schools. Hikma, listed on the London Stock Exhchange (HIK), has grown 35 percent a year, with annual sales over a billion dollars in 60 countries. Samih Darwazah, is the founder and chairman of Hikma Group, a billion-dollar multinational pharmaceutical company. He was a Fulbright Scholar and former Energy Minister in the Jordanian government under King Hussein. "Building a Global Success" is his first book.

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("Building a Global Success: The Story of Samih Darwazah and the Rise of Hikma" by Samih Darwazah ISBN: 0-9749860-9-7/Trade Paper -- $17.95ISBN: 0-9762502-2-5/Cloth -- $27.95218 pages; Illustrated; Hudson Books)

While American companies are outsourcing jobs overseas, Samih Darwazah, palestinian-born CEO of Hikma Pharmaceutical is bringing jobs back to America. His story is a combination of an Arab billionaire success story and American Foreign policy that actually worked in the middle east.

Darwazah benefitted from American education grants in the middle east, and later on served in the Jordanian government under King Hussein.

He now runs a multi-billion dollar global pharma company that has one plant already in the US, in New Jersey and is planning to open up a second one in the Maryland region.