Extraction of Coordinate and Scaling it down by half.

Hi, I'm trying to extract the coordinates(x, z) of a first person controller and scale it down by half and pass it to another game object to somehow make the GO move the same direction as the first person controller just that the distance is shorten by half. Is this possible? I need help.. Thanks! ):

Something like this should do it:

var controlledObject : Transform; //drag your other object here in the inspector

function Update()
{
    var pos = transform.position;
    pos.Scale(Vector3(0.5, 1.0, 0.5)); //sets the coordinates to be half the original in x&z
    controlledObject.position = pos;
}