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When one of them is lining up a potential deal, it is almost always because his or a foreign unit is preparing a sting operation, he adds.
But sales by that foreign unit to Iran can't be in any way under the control of U.S. executives.
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Ford consolidated its foreign units under Mr. Thursfield.
Effective indigenous units were thereby deployed at much lower financial and political costs than foreign units.
Chief executives at Dow Chemical, Altria and Alcoa started in foreign units of their companies.
The company is in the midst of an investigation involving its Mexican subsidiary and, possibly, other foreign units.
Multinationals can generally defer paying tax to their home governments by retaining profit earned abroad in their foreign units.
Under United States law, all foreign units that receive military or police assistance are vetted before receiving any equipment or training.
Weyco also agreed to buy some of Florsheim's foreign units, bringing the transaction's value to more than $47 million.
One proposal would apply new oversight to foreign banks that conduct significant derivatives trading in the United States, as well as American banks that have foreign units.
Not surprisingly, many do not: American multinationals have some $2 trillion sitting on their foreign units' balance-sheets, and growing.All this imposes big costs on the economy.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com