And of course, working the system so that his company not only does pay taxes, they get $3 billion back! Is anyone still kidding themselves this is about getting good jobs for the U.S.? They can tell us anything they want, but the record speaks
And of course, working the system so that his company not only doesn't pay taxes, they get $3 billion back! Is anyone still kidding themselves this is about getting good jobs for the U.S.? They can tell us anything they want, but the record speaks for itself:
After today's program aired, a GE spokesman, Gary Sheffer, e-mailed a response: "GE has added 6,000 manufacturing jobs in the last two years in the U.S., we believe in free trade and we are a large exporter to China," Sheffer said.
President Obama’s naming of General Electric CEO Jeffrey Immelt to a new post focused on creating US jobs has drawn cheers from the corporate community, and appears to reflects a change in tone from the White House with regard to big business.
But the head of a leading manufacturing association told us on ABC’s “Top Line” that the president’s choice sends the wrong message to many of those who are currently out of work – who happen to be some of the same voters the president needs to win back.
“He could have done worse, but he certainly could have done a lot better,” Scott Paul, executive director of the Alliance for American Manufacturing, told us.
“I mean, Immelt has outsourced a ton of jobs. They've closed -- GE has closed 29 factories in the last two years alone. And if you're trying to send a signal to those white, working-class voters that left the Democratic Party in droves in November, naming one of the country’s leading outsourcers as your chief strategy guy on jobs -- I don't think was the smartest move.”
Among other critiques Paul had was that Immelt has not taken a hard enough line with regard to China, a particular focus of the administration this week with President Hu Jintao in Washington.
“There's a lot of baggage there, and it’s not only in what GE has done,” Paul added. “And I mean there has been some … widely heralded moves by General Electric to open some clean-energy manufacturing facilities in the United States, but they're still outsourcing more than they're insourcing. GE has cut tens of thousands of jobs in this country over the last decade.”
“Meanwhile, they've created a lot of jobs abroad but beyond that, and I think what concerns me the most, is where Immelt is on some of this policy. I mean he says very good things about the need to invest in our infrastructure, our educational system, our innovation. But he's pretty weak-kneed when it comes to trade. And he, you know, he favors free-trade deals, which are highly controversial. But the one thing that he's not really willing to do is step up and get a little tough with China.”
I'm willing to be pleasantly surprised, but I don't for one minute believe the feds will actually prosecute these guys:
Shahien Nasiripour scoops that HUD's inspector general audited Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Read more...
In what looked like it was going to be another typical softball session for Rep. Eric Cantor on Morning Joe today, Jeffrey Sachs managed to ask him a few questions that he probably wasn't too comfortable having to answer. Cantor defended the Read more...
Boy, this pisses me off. This is the company of Jeff Immelt, the head of Obama's jobs council, which is supposed to figure out how to foster job growth - in America. He's famous for closing plants, laying people off and cutting wages and Read more...