Obama Teams Up With G.E.
Obama Brings Good Things to Light at G.E.
“Jeff Immelt’s experience at G.E. and his understanding of the vital role the private sector plays in creating jobs and making America competitive makes him up to the challenge of leading this new council.”
Statement from President Obama announcing that G.E. CEO Jeff Immelt will lead the new President’s Council on Jobs and Competitiveness.
When Democrats said President Obama was “pro-business,” we didn’t know they meant one business in particular.
There are a few companies on the Obama corporate A List – Democratic patrons Google and Goldman Sachs both turn up again and again at White House functions and for special recognition – but no company seems to get the VIP treatment that General Electric receives.
Obama will announce today on a visit to a G.E. plant in Schenectady, N.Y. that G.E. CEO Jeffrey Immelt will lead his new Council on Jobs and Competitiveness. The panel replaces the President’s Economic Recovery Advisory Board led by former Federal Reserve Chairman Paul Volker.
Volker, who helped President Ronald Reagan whip inflation and launch two decades of growth, will be replaced by Immelt, who has often spoken of his desire to put G.E. on the inside track for government subsidies and incentives in the Obama era.
Whether it is pushing the president’s plan for global warming fees in order to create demand for his “Ecomagination” line of windmills, solar panels, etc., boosting the president’s national health-care law as part of an effort to sell more medical equipment, or enthusing over the Obama strategy of making loans available for industrial exporters, Immelt has been an Obama stalwart all along. Immelt has also consistently argued to shareholders that there is big money to be made in advancing the Democratic agenda.