The chairman of the President Barack Obama's Council on Jobs and Competitiveness, Jeffrey Immelt, the CEO of GE, praised China this morning on CBS:
"China is changing," said CBS host Charlie Rose. "It may be being stabilized as we speak. What does that mean for China and what does it mean for the United States? Should it change expectations?"
"It is good for China," said Immelt. "To a certain extent, Charlie, 11 percent is unsustainable. You end up getting too much stimulus or a misallocation of resources. They are much better off working on a more consumer-based economy, less dependent on exports. The one thing that actually works, state run communism a bit– may not be your cup of tea, but their government works."
Bloomberg's Julianna Goldman reports that G.E.'s CEO, Jeffrey Immelt, is not "rooting for Republican presidential hopeful Mitt Romney in this year’s election." Immelt is head of President Obama's Council on Jobs and Competitiveness, as well as an informal economic adviser to the president.
The White House has released the list of those who will be sitting in the first lady's box tonight during President Obama's jobs address in Congress. Among the Obamas' guests will be several business leaders and politicians, including some very close friends of the president, and others from around the country.
Uh oh. First, Russ Feingold came out swinging at General Electric for not paying any taxes and now The Daily Show tears into NBC for not covering the scandal involving their parent country. It seems that Obama's favorite CEO is officially in hot water on the left:
Russ Feingold speaks truth to power. He calls out one aspect of the Obama administration’s crony-capitalist, big-government-corporatist, welfare-state liberalism—the relationship between the Obama White House and its favorite pet CEO, GE’s Jeffrey Immelt. Russ has a petition—see below—calling on Immelt to resign from, or for Obama to fire Immelt from, his position as chair of Obama’s Council on Jobs and Competitiveness. Sign the petition. And why not go further? Get rid of the Council, period. Surely Russ and his fellow progressives would agree on that too.