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Reply #136: Jeffrey Immelt Interview: 的 thought the [Bowles / Simpson] deficit commission did a great job." [View All]

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Better Believe It Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-23-11 01:29 PM
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136. Jeffrey Immelt Interview: 的 thought the [Bowles / Simpson] deficit commission did a great job."
Edited on Sun Jan-23-11 01:29 PM by Better Believe It

Transcript: Immelt talks to the FT
By Ed Crooks
January 21, 2011

President Obama痴 deregulation initiative

的t痴 a very good, very strong way to think about it... This can unlock lots of productivity and speed, without back-stepping in terms of any of the important protections that these industries have. I think the president is right on on that one.

The deficit

的 thought the deficit commission did a great job. I read the deficit commission report I actually read it over the holidays it痴 a pretty good framework on which we should be executing. And I think everybody has to recognise that there is going to be nobody that痴 untouched as we go through it. But it痴 important for the long-term competitiveness of the United States, and therefore we池e all in.

President Obama痴 export target

的 think doubling exports in the next five years is a great target. We have done it over the last five years; we know it痴 possible. That creates jobs.

(And that's how GE was able to close down 29 U.S. plants and destroy thousands of jobs in just the past two years. Exports .... job exports that is. BBI)

Globalisation and free trade

的 think we all have to worry about the lack of love, let痴 say, for globalisation today. And everybody has a role to do better. .... if we can get the Korean free trade agreement signed, and maybe Colombia and some of the other ones that are in the queue, I think step by step by step this all gets better.

Foreign investment by US companies

笛obs today particularly in the types of businesses GE is in are really about markets. It痴 not about cheap labour. The labour content of our products is very small.... If I build a factory in Saudi Arabia because I致e got a big market in Saudi Arabia, I don稚 apologise about that, necessarily."

Read the full interview at:

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  -Senator Sanders: Obama's jobs panel head closed 25 U.S. plants and outsourced thousands of jobs. Better Believe It  Jan-22-11 05:19 PM   #0 
  - Recommend!!! n/t  RKP5637   Jan-22-11 05:21 PM   #1 
  - Immelt is a nod...  onpatrol98   Jan-23-11 07:58 AM   #69 
  - Not thousands. Tens of thousands. Hujndreds of thousands.  SharonAnn   Jan-23-11 01:17 PM   #134 
  - "only Nixon could go to China"?  hedgehog   Jan-22-11 05:23 PM   #2 
  - Fukitol. At the point of being done with it all.  golddigger   Jan-22-11 05:23 PM   #3 
  - At least he's not from Goldman Sachs!  Echotrail   Jan-22-11 09:49 PM   #37 
  - That's his next job.  Fuddnik   Jan-23-11 12:13 AM   #43 
  - Or rather the Corporate States of America  molly77   Jan-23-11 05:30 AM   #54 
     - +1  davidwparker   Jan-23-11 12:12 PM   #115 
     - Obama has all the power Bush swiped plus the precedent of being unimpeachable.  aquart   Jan-23-11 12:54 PM   #129 
     - Presidents are window dressing for the masses. The "real" power and wealth  RKP5637   Jan-23-11 02:43 PM   #143 
     - Is that Carter statement in print or video anywhere?  cui bono   Jan-23-11 04:52 PM   #153 
     - When the President.....  DeSwiss   Jan-23-11 07:44 PM   #161 
     - +1  defendandprotect   Jan-24-11 04:45 PM   #178 
  - I think Obama just added another layer of complexity  Jackpine Radical   Jan-22-11 05:25 PM   #4 
  - He's up there in the high number range....  WCGreen   Jan-22-11 05:27 PM   #5 
  - It'll help the wealthy. It won't help us. We'll be Somalia in ten years. nt  valerief   Jan-22-11 05:28 PM   #6 
  - Ya know, we have a lot of Somali refugees in communities  Jackpine Radical   Jan-22-11 05:33 PM   #8 
     - No need to go to anywhere. You can have it all here.  gtar100   Jan-22-11 07:28 PM   #28 
        - what good are minimum wage laws ...  guyton   Jan-23-11 12:38 PM   #121 
           - I agree but we should never abandon them. They are one of the  gtar100   Jan-23-11 08:21 PM   #169 
  - He said "n-dimensional chess game". Hehn hehn. Love that one, JR.  bertman   Jan-22-11 08:36 PM   #32 
  - The Sunday AM talk shows will  Enthusiast   Jan-23-11 06:12 AM   #57 
  - It won't. It will do just the opposite. Why was Immelt given that  decidedlyso   Jan-23-11 08:37 AM   #73 
  - In his address Obama will be talking about jobs creation that will be led by a top job destroyer.  Better Believe It   Jan-22-11 05:29 PM   #7 
  - That's a false canard. Immelt has created thousands of jobs  Jackpine Radical   Jan-22-11 05:33 PM   #10 
  - And also created 30,000 jobs in India!  Better Believe It   Jan-22-11 05:36 PM   #11 
  - Too bad...  quickesst   Jan-22-11 05:40 PM   #15 
  - Either the President is being held hostage by the corporatists, or else...  RufusTFirefly   Jan-23-11 02:17 AM   #47 
  - Sadly, there is no other option.  kath   Jan-23-11 02:39 AM   #49 
  - He is one of them.  Enthusiast   Jan-23-11 06:18 AM   #59 
  - He's one of them.  davidwparker   Jan-23-11 12:14 PM   #116 
  - Wouldn't take much. Reagan was. nt  Lorien   Jan-23-11 03:08 PM   #146 
  - That certainly seems like the most logical explanation, although there's always Bill Hicks  RufusTFirefly   Jan-23-11 12:44 PM   #126 
  - My vote, He IS one of them.  SammyWinstonJack   Jan-23-11 08:04 PM   #165 
  - We might be expected to  Enthusiast   Jan-23-11 06:16 AM   #58 
  - I hope people aren't waiting for the end game of that amazingly complex and awesome chess game that  Brickbat   Jan-22-11 05:33 PM   #9 
  - I hate to say this but maybe Obama doesn't play chess and is just following his marching orders  Better Believe It   Jan-22-11 05:38 PM   #12 
  - Naaaaah, no way.  Jackpine Radical   Jan-22-11 05:39 PM   #13 
  - No! He wouldn't do that!  Enthusiast   Jan-23-11 06:23 AM   #60 
     - Obama is no liberal..........  BlueJac   Jan-23-11 08:35 AM   #72 
        - Yup..........nt  Enthusiast   Jan-23-11 08:51 AM   #78 
  - I think it's a lot more likely than the lovely chess game so many have been hyping.  Brickbat   Jan-22-11 05:39 PM   #14 
  - He could very well be playing chess  liberation   Jan-23-11 03:54 AM   #51 
     - Woof. Devastating!  Jackpine Radical   Jan-23-11 11:11 AM   #98 
  - There's a name for this opening  notesdev   Jan-22-11 05:51 PM   #19 
  - As long as the big boys have theri jobs, that is all that matters  Angry Dragon   Jan-22-11 05:45 PM   #16 
  - Who's the rocket surgeon who came up with this idea?  notesdev   Jan-22-11 05:46 PM   #17 
  - No one on the M$M will question  Enthusiast   Jan-23-11 06:32 AM   #61 
  - Why Bother Waking Up With A President That Has Swung So Far Right  cantbeserious   Jan-22-11 05:49 PM   #18 
  - Welcome to DU.  emilyg   Jan-22-11 06:22 PM   #21 
  - Precisely  Sherman A1   Jan-23-11 02:38 AM   #48 
  - I agree.  Enthusiast   Jan-23-11 06:35 AM   #63 
  - I think we need to strengthen those roots--  Jackpine Radical   Jan-23-11 11:20 AM   #101 
  - "Sanders Hopes Immelt Focuses on U.S. Jobs"  ProSense   Jan-22-11 05:55 PM   #20 
  - Unbe-fucking-believeable. One more corporitist appointed by Obama. And you say, we'll see. nm  rhett o rick   Jan-22-11 09:51 PM   #38 
  - Deleted sub-thread  Name removed   Jan-23-11 06:37 AM   #65 
  - Unfortunately, "certain people" won't see.  Jackpine Radical   Jan-23-11 11:35 AM   #106 
  - Damn right we'll see.  ProSense   Jan-23-11 04:57 PM   #154 
  - " . . . former Federal Reserve Chairman Paul Volcker . . . "  Major Hogwash   Jan-23-11 06:34 AM   #62 
  - GE's Main Man Gets the President's Ear  Better Believe It   Jan-22-11 06:37 PM   #22 
  - global competitiveness = workers fucked nt  Enthusiast   Jan-23-11 06:40 AM   #66 
  - Oh my!  MattSh   Jan-23-11 10:14 AM   #94 
  - So what is this chess move called?  Dappleganger   Jan-22-11 06:39 PM   #23 
  - It is standard Chess.  bvar22   Jan-22-11 07:49 PM   #31 
  - +1000 Absolutely perfect description of what is happening.  Jakes Progress   Jan-23-11 12:14 AM   #44 
  - +1  davidwparker   Jan-23-11 12:18 PM   #117 
  - Candyland n/t  Catherina   Jan-23-11 07:54 PM   #163 
  - "naming one of the country's leading oursourcers as your chief guy on jobs wasn't the smartest move"  Better Believe It   Jan-22-11 06:44 PM   #24 
  - smart move for`s all about campaign money.  madrchsod   Jan-22-11 07:11 PM   #26 
  - I think it has more to do with how well he expects to be rewarded after he leave office  dflprincess   Jan-22-11 09:36 PM   #36 
     - +1000!  SammyWinstonJack   Jan-23-11 08:08 PM   #166 
  - Nor was  BobbyBoring   Jan-23-11 12:01 PM   #114 
  - CEOs should be barred from holding any Public Office for 5 years after they  StarsInHerHair   Jan-24-11 03:47 AM   #174 
  - WTF! Jeez, I want to like Obama, I really do. But with appointments like this  gtar100   Jan-22-11 07:09 PM   #25 
  - Rec n/t  OhioChick   Jan-22-11 07:23 PM   #27 
  - This guy gives Jack Welch a good name.  Octafish   Jan-22-11 07:35 PM   #29 
  - K&R- several years ago, we bought a large GE air conditioner, thinking it would be good quality...  old mark   Jan-22-11 07:45 PM   #30 
  - And this is a surprise after Rahm and all!  MasonJar   Jan-22-11 08:39 PM   #33 
  - Maybe Immelt's been Born Again as an American instead of a Corporatist.  bertman   Jan-22-11 08:39 PM   #34 
  - K&R. (nt)  Kurovski   Jan-22-11 09:05 PM   #35 
  - from Mr. Obama's viewpoint  placton   Jan-22-11 09:53 PM   #39 
  - Should GE's Jeffrey Immelt Really Be Leading Our Job Creation Strategy?  Better Believe It   Jan-22-11 10:12 PM   #40 
  - He was brought in to save ONE job - Obama's n/t  radhika   Jan-22-11 11:12 PM   #41 
  - Superman couldn't save that job. nt  BlueIris   Jan-23-11 01:06 PM   #131 
  - Ah. Feel the change.  Jakes Progress   Jan-23-11 12:00 AM   #42 
  - And yet we are supposed to support him  MissDeeds   Jan-23-11 09:46 AM   #87 
     - Blindly.  Jakes Progress   Jan-23-11 01:39 PM   #138 
  - What would we do without Bernie Sanders ...? Can we clone him a 100X???  defendandprotect   Jan-23-11 12:22 AM   #45 
  - Can we stop inserting the name "Obama" in titles of stories like these?  McCamy Taylor   Jan-23-11 01:50 AM   #46 
  - OK, lets pretend Bush appointed Immelt.  Fuddnik   Jan-23-11 03:22 AM   #50 
  - Wow just wow...  liberation   Jan-23-11 03:59 AM   #52 
  - that's ridiculous. are you drunk? 'cause i know you're smarter than that.  tomp   Jan-23-11 07:41 AM   #68 
  - Have you been sleeping the last two years.......  BlueJac   Jan-23-11 08:38 AM   #74 
  - Ah, yes, hot fudge on rabbit turds.  decidedlyso   Jan-23-11 08:46 AM   #76 
  - Huh? Obama inserted the name "Obama" when he  golddigger   Jan-23-11 09:43 AM   #85 
  - Oy vey.  Forkboy   Jan-23-11 11:27 AM   #103 
  - wha?  neverforget   Jan-23-11 12:39 PM   #122 
  - Your post really surprises me  Autumn   Jan-23-11 07:39 PM   #160 
  - That would be like.....  DeSwiss   Jan-23-11 07:52 PM   #162 
  - well said.  inna   Jan-23-11 09:21 PM   #171 
  - I know and how different from 1 year's stunning and truly awful  StarsInHerHair   Jan-24-11 03:52 AM   #175 
  - un-f*cking-believable.  inna   Jan-23-11 09:25 PM   #172 
  - people need to wake up!! n/t  indimuse   Jan-23-11 04:46 AM   #53 
  - At this point, I'm not likely to lift a finger to help Obama save his own job.  Ilsa   Jan-23-11 05:49 AM   #55 
  - Another bad actor appointed by Obama.  Enthusiast   Jan-23-11 06:11 AM   #56 
  - recommend  xchrom   Jan-23-11 06:36 AM   #64 
  - In my mind, this seals the deal. Obama doesn't care whether jobs  Vinca   Jan-23-11 07:39 AM   #67 
  - I have had this daydream.....  dotymed   Jan-23-11 08:10 AM   #70 
  - Actually, I've had night dreams (nightmares?)...........  socialist_n_TN   Jan-23-11 08:51 AM   #77 
     - They already have the whole enchilada.  bvar22   Jan-23-11 09:55 AM   #88 
        - Yeah, but it would be official then............  socialist_n_TN   Jan-23-11 10:02 AM   #90 
        - Exactly. nt  Lorien   Jan-23-11 03:06 PM   #145 
        - "Big Business & The Ownership Class has gotten everything they could wish  snagglepuss   Jan-24-11 07:26 PM   #184 
  - I just wish  Flora   Jan-23-11 08:11 AM   #71 
  - Great post  MissDeeds   Jan-23-11 11:17 AM   #99 
  - GE is a worldwide company of course their employees are spread over the world  RB TexLa   Jan-23-11 08:41 AM   #75 
  - Free Trade is the best idea ever  dotymed   Jan-23-11 09:18 AM   #82 
     - Actually, trade restrictions are the worst idea ever.  RB TexLa   Jan-23-11 09:29 AM   #84 
        - "Trade Restrictions", like Fair Trade?  dotymed   Jan-23-11 10:27 AM   #95 
        - How's 30 years of free trade working out for Americans?  Saxon   Jan-23-11 01:28 PM   #135 
        - You mean like banning Ag Exports because your citizens are Starving?  Grinchie   Jan-23-11 01:38 PM   #137 
  - How many union representitives will be on this board?  baldguy   Jan-23-11 09:01 AM   #79 
  - I haven't read most ...  Kweli4Real   Jan-23-11 09:04 AM   #80 
  - Different position, same kat, same worldview, same influences, same principles, same broad goals,  TheKentuckian   Jan-23-11 09:29 AM   #83 
  - He's remaining as CEO over GE while filling this position  True_Blue   Jan-24-11 04:21 AM   #176 
     - Or, ...  Kweli4Real   Jan-24-11 04:41 PM   #177 
  - K & R &  AzDar   Jan-23-11 09:12 AM   #81 
  - that would mean he understands why it happens  treestar   Jan-23-11 09:45 AM   #86 
  - I know how and why it happens as do most other DU'ers. And so does President Obama.  Better Believe It   Jan-23-11 10:03 AM   #91 
  - What do you propose to do about it then?  treestar   Jan-23-11 10:09 AM   #92 
     - There have been many progressive proposals to jump start the economy and put millions to work.  Better Believe It   Jan-23-11 11:48 AM   #108 
     - Hell, I've got a suggestion and I've posted it on DU...........  socialist_n_TN   Jan-23-11 12:20 PM   #118 
     - I've thought of that many times, and I'm all for it...  Raksha   Jan-23-11 03:52 PM   #151 
        - Well that's why I said INSTEAD of bailing out............  socialist_n_TN   Jan-23-11 06:31 PM   #157 
     - The Earth depends on Diversity, and so does Man.  Grinchie   Jan-23-11 01:52 PM   #139 
  - Perhaps Obama should appoint a convicted serial killer to head his commission on violent crimes  brentspeak   Jan-23-11 11:20 AM   #100 
  - ....  Forkboy   Jan-23-11 11:29 AM   #105 
  - Fail  treestar   Jan-23-11 11:42 AM   #107 
  - Or appoint labor union busters to the National Labor Relations Board to build unions!  Better Believe It   Jan-23-11 11:54 AM   #109 
     - +100  neverforget   Jan-23-11 12:41 PM   #124 
  - Worst. Argument. Ever.  bvar22   Jan-23-11 11:55 AM   #110 
  - +1  SammyWinstonJack   Jan-23-11 08:16 PM   #167 
  - Everyone else understood it then, and now, we just did not do it.  grahamhgreen   Jan-23-11 01:15 PM   #133 
  - Sanders/Kucinich 2012! n/t  RoccoR5955   Jan-23-11 09:56 AM   #89 
  - Well, if you're gonna crash & burn, that would be a classy way to do it.  Jackpine Radical   Jan-23-11 10:55 AM   #96 
  - K & R  democracy1st   Jan-23-11 10:12 AM   #93 
  - I work for GE through a temp agency  gibby2433   Jan-23-11 11:10 AM   #97 
  - Please make this a lead topic in the GD-P  brentspeak   Jan-23-11 11:26 AM   #102 
  - Yes, please do that. People need to know the facts from someone who knows first hand.  Better Believe It   Jan-23-11 11:56 AM   #112 
  - Ditto what the others said. I bookmarked your post. VERY interesting and depressing. nt  tpsbmam   Jan-23-11 03:11 PM   #147 
  - recommend.  Starry Messenger   Jan-23-11 11:29 AM   #104 
  - K & R !!!  WillyT   Jan-23-11 11:55 AM   #111 
  - One more tip of the hat to corporate america. Are we a plutocracy yet?  BrklynLiberal   Jan-23-11 11:59 AM   #113 
  - Immelt = more 'prosperity for me, austerity for you'  deminks   Jan-23-11 12:21 PM   #119 
  - Obama is a one-term failure.  RowdyRacer   Jan-23-11 12:26 PM   #120 
     - Not necessarily. If Obama adopts and effectively carries out Wall Street policies in collaboration  Better Believe It   Jan-23-11 12:41 PM   #123 
     - Yep. The media and the "powers that be" will decide  Lorien   Jan-23-11 03:12 PM   #148 
     - Not if the PTB want him in the WH, he's not.  SammyWinstonJack   Jan-23-11 08:19 PM   #168 
  - Hey now! We were told to 'suck it up' and get ready for the global workforce!  Rex   Jan-23-11 12:41 PM   #125 
  - It's the much honored "If you can't beat 'em, join 'em" ploy. Aka - Triangulation.  Tierra_y_Libertad   Jan-23-11 12:45 PM   #127 
  - Recommended  somone   Jan-23-11 12:45 PM   #128 
  - Machinist Union leader: "We are rewarding the guy who is turning off America's lights, literally"  Better Believe It   Jan-23-11 01:03 PM   #130 
  - But Mr Outsourcer knows how to bring them back because he shipped  neverforget   Jan-23-11 01:07 PM   #132 
  - Jeffrey Immelt Interview: 的 thought the [Bowles / Simpson] deficit commission did a great job."  Better Believe It   Jan-23-11 01:29 PM   #136 
  - Oh God!  neverforget   Jan-23-11 02:08 PM   #140 
  - Appointing this guy is a big "F" u to unions  JJW   Jan-23-11 02:09 PM   #141 
  - Some of us here on DU tried to warn people that Obama was a corporatist during the primaries....  earth mom   Jan-23-11 02:30 PM   #142 
  - And our realistic other options were the following:  HughBeaumont   Jan-23-11 07:26 PM   #158 
  - The system isn't broken. It's working at the behest, of corporations and the wealthy  Better Believe It   Jan-23-11 07:31 PM   #159 
  - We need to add "None of the Above, thanks!" to our choices!!  defendandprotect   Jan-24-11 04:49 PM   #181 
  - Thanks earth mom ... had I known he was "New Dem" wouldn't have voted for him -  defendandprotect   Jan-24-11 04:48 PM   #180 
  - Fascism  Hawkowl   Jan-23-11 03:04 PM   #144 
  - Agree -- but corporations aren't casting the votes in Congress . . .  defendandprotect   Jan-24-11 04:50 PM   #182 
  - Corporate insider is the norm.  sarcasmo   Jan-23-11 03:21 PM   #149 
  - President Obama: "展e think GE has something to teach businesses all over America.  Better Believe It   Jan-23-11 03:37 PM   #150 
  - that was a chilling statement. ask anyone (left) in Detroit.  nashville_brook   Jan-23-11 04:13 PM   #152 
  - Can't believe Obama said that ... but Americans have to STOP buying goods not made in USA....  defendandprotect   Jan-24-11 04:53 PM   #183 
  - Here:  ProSense   Jan-23-11 05:01 PM   #155 
  - Unfortunately not surprising.  Vidar   Jan-23-11 06:07 PM   #156 
  - Color me shocked. n/t  Catherina   Jan-23-11 07:59 PM   #164 
  - kick..needs to be read  EndElectoral   Jan-23-11 09:14 PM   #170 
  - Is this our cue to toast Obama's 2nd term?  avaistheone1   Jan-24-11 01:30 AM   #173 
  - Any doubt these are the recommendations Obama is looking for-- ???  defendandprotect   Jan-24-11 04:47 PM   #179 

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