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Reply #22: GE's Main Man Gets the President's Ear [View All]

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Better Believe It Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-22-11 06:37 PM
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22. GE's Main Man Gets the President's Ear


GE's Main Man Gets the President's Ear
by Kent Hoover
January 21, 2011

President Barack Obamas embrace of corporate America continued today with the announcement that General Electric Co. CEO Jeff Immelt will chair the Presidents Council on Jobs and Competitiveness.

GE doesnt have a problem with big government. It not only is a major federal contractor, its GE Capital subsidiary benefited from government backing of its debt during the financial crisis. Immelt also supported Obama in his unsuccessful push for legislation to cap carbon emissions.

The council itself is a promising step toward a renewed focus on creating jobs, boosting economic growth and enhancing Americas global competitiveness, said Tom Donohue, president and CEO of the U.S. Chamber of Commerce. Immelt is a good choice to lead it because of his business experience and understanding of global markets, Donohue said.

As a business leader, Immelt understands first-hand what it means to grow a business and create jobs, said John Engler, president of the Business Roundtable, an association of big-business CEOs, including Immelt.



President Barack Obama applauds as GE chief Jeff Immelt speaks at a GE plant in Schenectady, New York.

Read the full article at:

http://www.portfolio.com/views/blogs/capital/2011/01/21...



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