Jeffrey Immelt Quote of the Day

Jobs Czar Jeffrey Immelt in an interview with Lesley Stahl for CBS, October 2011:

 

"I think, Lesley, there needs to be a sense of national urgency around jobs..."

Comments

[Tom Glennon]

Mr. Immelt, as CEO of General Electric, has certainly shown he has interest in job creation. He is shutting down the U.S. manufacturing facilities that make X-Ray equipment, and moving that production to China. GE no longer makes incandescent light bulbs in the the U.S, but does import mercury filled CFL's from China. In addition, he is negotiating to have GE build jet engines in China, which will result in China being able to compete with Boeing for jet transport sales. American technology for these engines will also allow the Chinese to upgrade the performance of their military aircraft. I am sure there is no harm in that. Just ask the Taiwanese. Yes, Mr. Immelt is helping to create jobs. Unfortunately, none of them are in the United States.