Immelt, the Jobs Czar from Hell
By Debra Saunders
SF Chronicle
The New York Times reported last month that General Electric earned $14.2 billion in international profits, including, $5.1 billion in the United States. Yet GE did not pay a dime in federal income taxes last year. Oddly, President Obama chose GE Chairman and chief executive Jeffrey Immelt to head his President's Council on Jobs and Competitiveness.
According to the Associated Press, Immelt's compensation package doubled to $15.2 million last year, while this year, GE is seeking major concessions from the unions that represent its shrinking American workforce. That makes Immelt the wrong guy for the job of jobs czar.
Or as former Democratic Sen. Russ Feingold wrote, "Someone like Immelt, who has helped his company evade taxes on its huge profits -- and is now looking to workers to take major pay cuts after his compensation was doubled -- should not lead the administration's effort to create jobs."
No lie.
After all, what kind of economic advice can Immelt give?
(More here.)
SF Chronicle
The New York Times reported last month that General Electric earned $14.2 billion in international profits, including, $5.1 billion in the United States. Yet GE did not pay a dime in federal income taxes last year. Oddly, President Obama chose GE Chairman and chief executive Jeffrey Immelt to head his President's Council on Jobs and Competitiveness.
According to the Associated Press, Immelt's compensation package doubled to $15.2 million last year, while this year, GE is seeking major concessions from the unions that represent its shrinking American workforce. That makes Immelt the wrong guy for the job of jobs czar.
Or as former Democratic Sen. Russ Feingold wrote, "Someone like Immelt, who has helped his company evade taxes on its huge profits -- and is now looking to workers to take major pay cuts after his compensation was doubled -- should not lead the administration's effort to create jobs."
No lie.
After all, what kind of economic advice can Immelt give?
(More here.)
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1 Comments:
What's the big deal? GE is just a massive money laundering outfit for the DNC. How else is Obama going to raise $1B if it isn't laundered through the corporate-state crony capitalism firms such as GE and GM. Obama has to start his re-election now so that there is enough time to launder that $1B through these firms for his re-election coffers.
And what he can't raise through his crony capitalism, he'll raise from overseas just like he did in 2008.
easy as pie!
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