Obama's new economic advisory board head, GE CEO Jeffrey Immelt, shipped manufacturing jobs overseas

[Better Believe It]

In 'reboot,' Obama names GE's Immelt to head new jobs panel
Board replaces one that had been chaired by former Fed Chairman Paul Volcker
NBC, msnbc.com and news services
January 21, 2011

President Barack 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. Volcker has said he was ending his tenure on the panel when its mandate expires on Feb. 6.

Immelt, a member of the board of the New York Federal Reserve Bank, has been a frequent visitor to the White House and attended a CEOs meeting with Obama and visiting Chinese President Hu Jintao on Wednesday.

So 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.

Read the full article at:

http://www.msnbc.msn.com/id/41186668/ns/business


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GE Promotes Manufacturing Jobs in US, Then Ships 'em Overseas
By Mike Elk
Campaign for America's Future
July 21, 2009

Jeffery Immelt, the CEO of General Electric, has led the outsourcing charge in the past. So commentators were shocked last month when, speaking at the Detroit Economic Club, Immelt said that the United States needs to invest in American manufacturing in order to get out of our current economic crisis.

While Immelt was calling for manufacturing to stay in the U.S., his company was at the same time shipping manufacturing jobs overseas by canceling an order with an American-based wind turbine maker, ATI Casting Service in LaPorte, Ind., so that GE could instead buy the parts from a factory in China.

Recently, ATI made $30 million worth of investments to buy, convert, and modernize a shuttered factory in economically ravaged Michigan so the company could provide more parts to GE as the green economy expands with federal stimulus funding. But a Chinese firm underbid ATI, and the factory faced having to lay off 302 union workers and shutter the plant.

In an aggressive bid to keep the factory open, ATI offered to match the price of the Chinese producers. GE once again said they would prefer to buy from China. The ATI plant is now closed, the jobs gone.

Read the full article at:

http://www.huffingtonpost.com/mike-elk/ge-promotes-manufacturing_b_241944.html

[mmonk]

1. And that's the way it is going to be unless we stand up and say no more.

[RKP5637]

2. Too many Americans choose to be asleep at the wheel. Not until this smacks

them in the nose will they wake up, otherwise, it's the other guys problem, out of sight, out of mind.

[mmonk]

4. That will be too late, but yes, when it's nothing but wreckage,

maybe they will.

[blindpig]

6. How ya gonna do that?

It ain't gonna be in primaries, it ain't gonna be in the electoral system as things are now. The entire political class is on board with this austerity bullshit. Politics by other means, in the streets, is our only recourse.

[mmonk]

8. Getting with labor and convincing them they need to issue ultimatums

for political support and if necessary, strike and shut down things where they can.

[blindpig]

11. That's the way to do it.

They will understand nothing until the money making machine grinds to a halt. The union officials that have been working both side of the fence better step out of the way.

[mmonk]

12. Dang straight.

The time for action is not when you've completely lost, but when they start to take you down.

[emilyg]

13. How are we going to do that?

[SharonAnn]

3. He's the heir to "Neutron Jack". Got rid of the people, left the buildings standing.

Jack Welch once said that factories should be built on barges so that they could be easily moved to wherever the labor cost was the cheapest.

[dkf]

5. Well maybe you need to change corporate attitudes from inside the circle.

[blindpig]

7. And maybe we need to free ourselves of these parasites entirely

Your suggestion is laughable.

[Name removed]

9. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[dkf]

18. Exactly what do you want to get rid of?

Immelt?
GE?
Corporations?

[Brickbat]

10. So, is this guy a bishop or a knight on the chess board? I swear, I can't keep up.

[RKP5637]

14. It changes by the minute, doesn't it. There are so many angles being played one

can't keep up. Modern technology has poured gas on the fire allowing 7x24 multidimensional chess by the players.

[somone]

21. New chess uses robber barons and captains of industry

[Brickbat]

22. *makes a note of it*

So, let's see...rook to king's job-killer 6...robber baron takes investment banker's pawn....hmmmmmmm....there's a strategy here somewhere...

[Name removed]

15. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Brickbat]

16. .

:rofl: :thumbsup:

[Poboy]

17. Recommend.

[denem]

19. Which Top 50 CEO HASN'T shipped jobs overseas?

It's part of the job description.

I mean what was NAFTA about in the first place?

[Better Believe It]

24. I would say the domestic railroad and trucking barons.

[senseandsensibility]

20. kick for the much needed information

Turning a blind eye is not an option.

[Octafish]

23. Jobs for India

And don't forget jobs for Indianapolis and the rest of the USA.