Obama Taps GE Boss Immelt for Jobs Council
President Obama is restructuring his economic advisory board to place an emphasis on job creation, and he is naming General Electric CEO Jeffrey Immelt as its new head.
The new board, called the President's Council on Jobs and Competitiveness, will replace the former Economic Recovery Advisory Board that had been chaired by former Federal Reserve Chairman Paul Volcker.
Obama announced late Friday that Volcker was ending his tenure on the panel when its mandate expires on Feb. 6.
The change signals Obama's intention to shift from policies that were designed to stabilize the economy after the 2008 financial meltdown to a renewed focus on increasing employment, a vexing task that could affect his re-election prospects. The White House says the board's mission will be to help generate ideas from the private sector to speed up economic growth and promote American competitiveness.
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The advisory board has included past government officials and representatives from labor and the corporate world. Volcker has been a regular White House adviser, though the board itself has met infrequently with the president.
"Since my campaign for president, I have relied on Paul Volcker's counsel as we worked to recover from the worst economic crisis since the Great Depression," Obama said in a statement late Thursday. "Paul Volcker is not only one of the wisest economic minds in our country, he's an individual who has for decades fought for policies that help American families and strengthen our economy."
"I have valued his friendship and skill over the years, and I will rely on his counsel for years to come," Obama said.
Immelt was to join Obama in Schenectady, New York, Friday for an economy-related visit to a General Electric plant, where the president will showcase policies that have aided the multinational conglomerate. GE is a diversified technology, media and financial services company.
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Immelt, a member of the economic recovery advisory panel, announced the reconstituted board in an opinion piece Friday in The Washington Post. In it, he called for a focus on manufacturing and exports, trade and innovation.
"The president and I are committed to a candid and full dialogue among business, labor and government to help ensure that the United States has the most competitive and innovative economy in the world," he wrote.
His appointment adds another corporate insider to the White House orbit, underscoring the White House's efforts to build stronger ties to the business community. Earlier this month, Obama named former commerce secretary and JPMorgan Chase executive William Daley as chief of staff.
Immelt has been a White House ally since the start of Obama's presidency, though his political contributions tend to be bipartisan and he financially supported Hillary Rodham Clinton and Republicans John McCain, Rudy Giuliani and Mitt Romney during the 2008 presidential elections.
General Electric employees and their spouses, however, supported Obama over any other presidential candidate.
© 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The new board, called the President's Council on Jobs and Competitiveness, will replace the former Economic Recovery Advisory Board that had been chaired by former Federal Reserve Chairman Paul Volcker.
Obama announced late Friday that Volcker was ending his tenure on the panel when its mandate expires on Feb. 6.
The change signals Obama's intention to shift from policies that were designed to stabilize the economy after the 2008 financial meltdown to a renewed focus on increasing employment, a vexing task that could affect his re-election prospects. The White House says the board's mission will be to help generate ideas from the private sector to speed up economic growth and promote American competitiveness.
Obama's Approval Rating Hits 49%
Poll: Most Say Deal with Deficit Now
The advisory board has included past government officials and representatives from labor and the corporate world. Volcker has been a regular White House adviser, though the board itself has met infrequently with the president.
"Since my campaign for president, I have relied on Paul Volcker's counsel as we worked to recover from the worst economic crisis since the Great Depression," Obama said in a statement late Thursday. "Paul Volcker is not only one of the wisest economic minds in our country, he's an individual who has for decades fought for policies that help American families and strengthen our economy."
"I have valued his friendship and skill over the years, and I will rely on his counsel for years to come," Obama said.
Immelt was to join Obama in Schenectady, New York, Friday for an economy-related visit to a General Electric plant, where the president will showcase policies that have aided the multinational conglomerate. GE is a diversified technology, media and financial services company.
Obama Ramping Up 2012 Reelection Campaign
Immelt, a member of the economic recovery advisory panel, announced the reconstituted board in an opinion piece Friday in The Washington Post. In it, he called for a focus on manufacturing and exports, trade and innovation.
"The president and I are committed to a candid and full dialogue among business, labor and government to help ensure that the United States has the most competitive and innovative economy in the world," he wrote.
His appointment adds another corporate insider to the White House orbit, underscoring the White House's efforts to build stronger ties to the business community. Earlier this month, Obama named former commerce secretary and JPMorgan Chase executive William Daley as chief of staff.
Immelt has been a White House ally since the start of Obama's presidency, though his political contributions tend to be bipartisan and he financially supported Hillary Rodham Clinton and Republicans John McCain, Rudy Giuliani and Mitt Romney during the 2008 presidential elections.
General Electric employees and their spouses, however, supported Obama over any other presidential candidate.
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And now GE,s boss works for Obama. Hum, do you think they will be asking Obama any tuff questions on NBC? Do you think you will hear how stupid any one who oppose him is? Oh you bet, the more they bash Obama's opposition the higher they will bet paid.
Why would we want someone in that position, who does NOT produce their products, in AMERICA?????
GE Energy (power generators, wind turbines, aircraft engines)
GE Healthcare appliances (MRI, Ultrasonic, etc..)
Hotpoint appliances
RCA (does this include the electronics as well?)
...NBC, MSNBC, CNBC
Universal Pictures and Universal Studios
Sounds like Fascism to me!
Now you have to ask yourself this. If Obama were a Republican would the Main Stream Media be all over these stories?
MEXICO CITY: The Mexican subsidiary of US automaker General Motors said on Thursday that it planned to invest $540 million to manufacture two types of low-emission engines at its plant in Toluca.
The project will create 500 direct and 500 indirect jobs , and it will allow the plant to produce engines featuring new technologies that consume less fuel and operate more efficiently, the automaker said in a statement.
Toluca is located about 50 km west of Mexico City.
More jobs for Mexico, so I guess when Obama said he was going to focus on jobs this is what he meant. Don't we (us tax payers) own GM?
GE made 156 Billion last year while laying off over 18,000 Americans They received stimulus grants, not loans, grants and now they are going to buy 25,00 GM Volts but here is the kicker. They will get a 2,000 dollar subsidy per GE Wattstation (the device that will be used nationwide to charge the cars) of your tax money.
What the hell is going on here?
One more thing that just came to mind, and I have searched but cannot find an answer. Where are these Wattstations made? If we (the tax payers) have to kick in 2000 bucks each, I sure hope they are made here in the USA, I have searched the internet and no hits, which tells me they are not.
Source:
The Obama administration gave corporate giant General Electric $24.9 million in grants from the $787-billion economic "stimulus" law President Barack Obama signed in February 2009, according to records posted by the administration at Recovery.gov,? reports CNS News. Despite getting $24.9 million from U.S. taxpayers, GE decreased its U.S.-based employees by 18,000 in 2009. According to Standard & Poors, GE took in $156 billion in revenue in 2009.?
The Detroit News reports this week that "General Electric will convert half its 30,000 worldwide fleet of vehicles to electrics, including purchasing 12,000 cars from GM beginning with the 2011 Chevrolet Volt. In all, the Fairfield, Conn.-based company, which makes charging stations, will purchase 25,000 plug-in electric cars by 2015."
Yes, those charging stations - GE makes the GE Wattstation - are also subsidized by up to $2,000 of your tax money.
http://www.nationalreview.com/planet-gore/253165/ge-buys-volts-taxpayers-get-charged-henry-payne
Erik Schmidt would have been a much better choice for jobs of the future.