Business

Jobs Czar Wants America to Root for Him and GE

Jeffrey Immelt, General Electric CEO and jobs czar to the Obama administration, was interviewed recently on 60 Minutes. In the interview, he talked about everything ranging from his position as jobs czar to his responsibilities to GE’s shareholders.

“I think this notion that it’s the population of the U.S. against the big companies is just wrong. It’s just wrong-minded and when I walk through a factory with you or anybody, you know, our employees basically like us,” Immelt said in an interview with CBS News’s 60 Minutes. “They root for us, they want us to win. I don‘t know why you don’t.”

Since making these statements, the reaction from the left has been fairly negative, even prompting critics like The Washington Post’s Ezra Klein to comment that  Immelt’s interests may be more in line with those of his fellow business leaders than with Obama’s interest in creating jobs.

When asked at a CEO summit earlier this month how he will get Obama to listen to him, Immelt responded: “Our job is to make our ideas his ideas,” Klein reports.

The Huffington Post sees that fact that GE’s is not being “rooted for” as a result GE’s business practices including cutting 19,000 jobs since 2009.

“I want you to root for me. You know, everybody in Germany roots for Siemens. Everybody in Japan roots for Toshiba. Everybody in China roots for China South Rail. I want you to say, ‘Win, G.E.,’“ Immelt told ”60 Minutes” correspondent Lesley Stahl.

As Imelt bemoaned his companies negative image, the Huffington Post reminded its readers why that might be the case: the unemployment rate has been hovering above 9 percent for months and continues to barely keep pace with population growth.

Then there are other elements to GE’s public image that has tarnished its reputation, most notably the fact that it did not pay any American taxes in 2010, according to The New York Times.

When the company’s tax scandal became public knowledge, a GE spokesmen said the company expects to have “a small U.S. income tax liability” for 2010, according to a report from Fortune magazine and ProPublica.

Later on in the interview, Imelt talked about his vision for GE and what it means to be a globalist:

I’m a complete globalist. I think like a global CEO. But I’m an American. I run an American company. But in order for GE to be successful in the coming years, I’ve gotta sell my products in every corner of the world.

If I wasn’t out chasing orders in every corner of the world, we’d have tens of thousand fewer employees in Pennsylvania, Ohio, Massachusetts, Texas.

I’m never going to apologize for that, ever, ever.

However, it should be noted that the majority of growth for GE is happening outside the U.S., and 60 percent of revenue comes from overseas, according to Immelt himself. Again, comments like this has led critics like Paul Krugman (yes, that Paul Krugman) to write this specific criticism in the New York Times.:

…GE isn’t in any important sense an “American’ company.” More than half its employees are overseas. I’m sure Immelt would claim that this is just what he needs to do to compete; but in that case, he can’t have it both ways and also demand that we cheer for GE as an American champion.

In the end, Immelt said he answers to shareholders, not the country or employees.

“My name is not above the door. I work for investors. Investors want to see us grow earnings and cash flow. They want to see us be competitive. They want to see us prosper,” Immelt said in the CBS News report.

See the CBS Interview:

Comments (37)

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  • TEARS FOR AMERICA
    Posted on October 17, 2011 at 10:01am

    Immelt is a traitor to America, his company and the American worker-why else would he be tied to a ship sinking? Insane.

    Report Post » TEARS FOR AMERICA  
  • Ducky657
    Posted on October 17, 2011 at 9:44am

    You take an ideologue who couldn‘t supervise a school yard fist fight and put him in charge of ’jobs’?! The only thing he has accomplished is sending GE’s light bulb manufacturing overseas to add to the ever increasing unemployment problem. What about all the money Uncle Sugar gave him to bail out GE Money Bank? Without all of support BHO has given this guy would he still have a job?

    Report Post »  
  • Sidhekitten
    Posted on October 17, 2011 at 1:09am

    So, how do you go from being the most disastrous CEO to ever run GE, to the point he makes a Dept. of Energy Secretary look like a genius, to a “winner”. Answer: cuddle up to a Marxist, sing sweet nothing in his ears, and pay whatever is needed in contributions to make your problems go away. Or to compare as Hank Williams Jr. did: History may look at GE as it looks at IG Farben before all is said and done.

    Report Post » Sidhekitten  
  • mbryant
    Posted on October 16, 2011 at 10:23pm

    Who watched the CBS interview?I know,I don’t want to like this guy,but listen to what he says.

    Report Post »  
  • mbryant
    Posted on October 16, 2011 at 10:17pm

    wait wait wait Listen to what he is saying.I mean if you have a job,How many of you would quit because you absolutely hate the company?Hate that they are a global company and think they should only be in America,even though we know that most of us don’t check the label?I know everyone hates that the company says they can’t give you a raise,But most people can figure out what the character of the owner is.I would love a raise and a little appreciation every now and then,but I don’t hate my company.Before I saw this I thought this guy was so hipocritical,and I never would have thought he was a Republican,but he seems like a good bussiness man.What ideas did he give Obama?

    Report Post »  
    • pamela kay
      Posted on October 17, 2011 at 4:14am

      Oh come on. He is a smooth operater just like Obama. Well programed progressive robot. His company pays little or no taxes. He is in bed with Obama. Don’t fall for his line of crap. How much did GE donate to the Obama campaign? How many GE jobs are overseas? How much will GE make off of cap and trade?Yes he has charisma, so what? So does Obama and look where that has got us. I will never purchase another GE product period and neither should you if you are a conservative. I can’t even watch this man, I will read his comments but he has betrayed the very people and the system (capitalism) that have made him filthy rich. I do not deny him his wealth but I have trouble with him for taking that money while promoting socialism. He and Obama are two of a kind. Neither can be trusted. You have to remember actions speak louder than words. His actions speak loud and clear . He does not love his country and could careless about our freedom as long as he makes a profit and remains on top.

      Report Post » pamela kay  
  • Rational Man
    Posted on October 16, 2011 at 4:10pm

    Obama in bed with GE. One of the most, if not the biggest, corrupt, tax dodging, corporations in the world.
    The perfect picture of what Obama says he hates and wants to do away with.
    Has everyone gone crazy or is everyone just beyond stupid!

    Report Post » Rational Man  
    • Hiswill
      Posted on October 17, 2011 at 2:08pm

      I’m hoping the Republicans will use this to their advantage and make a comercial about these two bed fellows.

      Report Post » Hiswill  
  • zman61
    Posted on October 16, 2011 at 10:54am

    I used to buy GE and GM products but now that the“G” stands for Government I won’t buy a damned thing from either of them. If either of them on fire I? would not P*ss on either of them to put it out!!! Might even add some fuel to the fire to make them burn faster. I consider both companies to be traitors to this country now….

    Report Post »  
  • RT4
    Posted on October 16, 2011 at 8:49am

    Chuck Stein posted
    “I wish there were a “Not Made in China” store — not even a “Made in the USA” store (although that would be nice if possible).”

    I am sick of tired of people like you “no identity, open borders,globalist” perhaps LIBERAL in denied. I want everything made in America, People idelistic like you creates all the problem that we are witnissing nowdays. Like I said , if you don’t like it here you have freedoom of choice and go somewhere else, Europa or other countries, do not be unhappy in USA enjoy your idealistics dreams in the right place out of the USA. Have a nice trip WOLF

    Report Post »  
    • Chuck Stein
      Posted on October 16, 2011 at 7:45pm

      Dude, chill out. I would like everthing made in America, as well. My point was that at this point in time, a “Made in the USA” store wouldn’t have much to offer. A “not made In China” store would at least stop supporting our main global rival. now relax & breathe deeply, K?

      Report Post »  
  • WahtPartofIllegalDoYouNotUnderstand
    Posted on October 16, 2011 at 7:32am

    Only a stupid person is going to keep putting foxes in charge of the hen house – or Obama is being paid off. Hmmm, choices choices.

    Report Post »  
  • BillyPenn
    Posted on October 16, 2011 at 6:58am

    Maybe if and when GE paid taxes, they might get some support.

    For those who are shopping for USA made products; madeinusa.com

    Most of my time spent shopping, is not spent on shopping, but looking for USA labels. Dog and cat food & treats, you must check the labels, Try and find pet toys made in the USA in either of the two large pet stores. It’s not going to happen. Going to the China Marts is an exercise in futility. Be very careful when shopping at the two large home supply centers. The items will be either made overseas or even tho it will be American made, it will be of lesser quality, made special for those stores.

    Only by using a foreign made computer, going on line and doing our research, can we find what we want.

    Report Post »  
  • Free2speakRN
    Posted on October 16, 2011 at 4:08am

    They root for you because they are afraid of being fired by you. What do you do with all that love?

    Report Post »  
  • kellied
    Posted on October 16, 2011 at 2:27am

    BEND OVER!!!!! They think all of us are Blind & Stupid. To busy trying to make enought money, to get through this nightmare. I just cant’t get over how they treat us. And= heaven forbide, we speak the truth about their motives!!!!!!

    Report Post » kellied  
  • AlaskaismyEden
    Posted on October 16, 2011 at 12:13am

    Get a clue, Jeffrey…

    Small businesses grow jobs. I am a small business owner of 20+ years. Before Oblabla, I was prospering, had up to 12 employees. The paperwork was just overwhelming. Government regulation after regulation, and when you called with questions, you couldn’t get the same answer from anyone! When Obummer was elected, and with the looming Obamacare debacle, I sold off what I could, downsized, and eliminated ALL my employees, and modified my business. Still, the economy has taken its toll. The stock market took most of my life savings, with just ten years before retirement.

    We are regulating ourselves out of existence people, and our freedoms eroding by the day. Costs are spiraling out of control while the Fed just prints more money.

    Should we actually make it to November 2012 elections, VOTE THE BUMS OUT!!!!!

    Report Post »  
    • pamela kay
      Posted on October 17, 2011 at 4:28am

      I understand your situation and agree with you. I am also worried about whether or nor we will have the next election. The progressives may not let us get to Nov. of 2012. Martial law could cause an abrupt halt to our right to vote. And could make saving our country even more difficult. Not to mention being caught in the crosshairs of terrorist. We can’t give up hope or weaken. I will pray for you and your company and hope that you are able to hang in there and ride it out. God Bless, and good luck.

      Report Post » pamela kay  
  • buster2
    Posted on October 15, 2011 at 8:46pm

    Adios GE, will give all your products away that I might have and will never purchase another one. Have a great day.

    Report Post »  
  • Boulderite
    Posted on October 15, 2011 at 8:06pm

    I found it incredible but typical that he was put in as jobs czar since his company didn’t pay any taxes…but then again, how many tax cheats work for Obama? and how much did he have to do with the change to the new lightbulbs?

    Report Post »  
  • smokeyridgerunner
    Posted on October 15, 2011 at 7:21pm

    Screw you and G.E.

    Report Post »  
  • Mr Sanders
    Posted on October 15, 2011 at 6:54pm

    Mr. Immelt – get real.

    Your firm, GE has exported more jobs, and creates more risky, polutive products out-of-country than its created here in the US. EPA disallows the production of CFL’s in the US but China, why not punish them with Mercury Poisoning, aey?! Then we ALLOW your poisonous products to be imported back into our country. That is very GREEN of you and your company.

    GREEN = RED

    You are two-faced and talk out both ends (did I say that?) I mean, both sides of the “jobs” issue. Pathetic.

    There is another “good thing” with electing “new management” —–> NO CZARS!

    Report Post » Mr Sanders  
  • FaithfulFriend
    Posted on October 15, 2011 at 5:40pm

    I’ve refused to buy anything with the GE name on it for many years now and will tell any sales clerk exactly why anytime they reach for a a GE item. I won’t even buy one of their light-bulbs but am sure there must be some GE stuff in some things I must purchase but have no real idea what those are.

    Just this week had a dishwasher go out and ordered a Maytag, which is owned by Whirlpool.

    Report Post » FaithfulFriend  
  • JOE
    Posted on October 15, 2011 at 5:09pm

    Having him as a czar os like having china as one too he shipped so many jobs out of usa Maybe we can ship him out too with the elected official that hired him ……….Just the laugh of shovel ready jobs at that new confrence bothers me ………….WITH OUR president IN small letter cause it is what we have ………………………..A SMALL MINED president ……………
    God works in strange ways …………………Wasnt it obama lending the money to Wall st and sending 3 trillion to europe that no one new about till in the end …………..alot of ppl counld of been in there homes instead of the banks ruining many like they do now…………………………
    The stock market is getting ready for a callapse with the euro they cant print enough money to save greece italy spain …………..

    Report Post » JOE  
  • Kidon
    Posted on October 15, 2011 at 1:11pm

    The government cannot create jobs. Jeffrey Immelt, as CEO of General Electric must understand this, if he does not then he should be fired as a CEO.

    Business owners and entrepreneurs desire only one thing. That government will get off their backs. Allowing these small business owners to succeed.

    Cut regulation, taxes, and odious laws such as Obama heath care. Many small business owners are delaying hiring new employees because of such government edicts.

    Report Post »  
  • olddog
    Posted on October 15, 2011 at 12:42pm

    We Do Not Buy Anything Made by GE or Union made…

    Report Post » olddog  
  • lylejk
    Posted on October 15, 2011 at 11:55am

    The only thing I’ll root for is you getting put in jail Mr. Immelt. Your acts just proves my point that NAFTA/GATT destroyed our work economy here in the U.S. giving croanies like you non-consequence ability to move your jobs away from the U.S. Again, it’s time for my solution to be spread again. If implemented, you’ll beg to have your business back in the U.S. again. :)

    The Solution

    First of all, we have to understand that we are going broke. My solution: we got to recall all our military from all foreign lands (and I mean all) and cut it by a third to a half and the remaining troops main mission should be guarding the borders as they are Constitutionally demanded too. Now that would save a heck of a lot of money. Let the rest of the world take care of their own business; we can no longer be the police force of the world. Domestically, I would eliminate the Income tax and IRS and go to a National Sales Tax model. Less entities to collect from so that will further reduce the need for government workers saving more money. Also, before we even had income tax, we got most of our money from tariffs and other fees. Repeal NAFTA/GATT and bring the tariffs back. Short term, things will cost more. Long term, the jobs will return (they have too if companies want to sell their goods to us at a reasonable cost to them). NAFTA/GATT just gave them incentives to leave. That’s my take; want to hear yours.

    Report Post » lylejk  
  • reality based lifeform
    Posted on October 15, 2011 at 7:26am

    Great news Jeffrey , I wont be purchasing anything from GE ever again!

    Report Post »  
  • Arc
    Posted on October 15, 2011 at 4:10am

    You’re a “turncoat”,

    Report Post » Arc  
  • momsense
    Posted on October 15, 2011 at 4:08am

    Shouldn’t this fraud be asking his friends in China to do this? Oobviously he doesn’t know which country he represents.

    Report Post »  
    • Texasphyl
      Posted on October 15, 2011 at 5:04pm

      Right on. If you look at the small appliances made by GE they are all made in China. They are the workers who seem to like this idiot. I need a new toaster and I can not find one that is not made in China. Not only GE brands but Black and Decker, Rival, etc. Those are the companies that should be protested against, they took all the jobs and moved them to China and other foreign countries.

      Report Post »  
    • Chuck Stein
      Posted on October 15, 2011 at 11:24pm

      I wish there were a “Not Made in China” store — not even a “Made in the USA” store (although that would be nice if possible). I would go to that store first time, every time. With the internet, it would be pretty easy to do as an online store — but I would like to go to a bricks & mortar store.

      Report Post »  
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