Tag: Jeffrey R. Immelt

Going Off The Reservation

Few good things can be said About Jeff Immelt. For any holder of GE stock, his incompetence as a CEO is legendary, few CEO’s of large corporations have botched the job and manged to ruin shareholder value worse then Immelt (that clown that ran Disney before Iger was a close second, but that will be for another post).

But Jeff does know how to curry favor with Obama, large donations are worth something after all, so aside from getting a pass on any tax liability, he managed to get himself elected Obama Job Czar, not bad for a guy whose only job creations in GE he has seen are the ones he created overseas. Given the unemployment rate and how job creation has been THE hot button topic for a while now, Jeff has managed to avoid criticism by keeping his nose firmly at the behind of his boss, and laughing at all his jokes when both are sceen together. But even a stopped clock is right twice a day, I guess that means Immelt has to do one more thing right, no small feat for this weasel:

Jeffrey Immelt, CEO of General Electric and President Obama’s “jobs czar,” criticized the current American tax system while apparently opposing President Obama’s call for tax increases to pay for jobs spending.
Immelt added, “Personally, I think [lowering taxes] will create jobs.”

Where did that come from? A clear repudiation of the president’s wealth redistribution efforts, this will not play well in the WH.

We can’t fault him for speaking the obvious, lowering taxes and increasing the base, yep, that is the recipe for job creation.

When Reagan took office the top tax rate was 70% and those in that bracket accounted for 18% of the tax revenue (accounting 101 told them to just incorporate, thus avoiding the higher tax bracket and only paying the corporate rate). but when he lowered the top tax rate to 28%, the same tax bracket (the wealthiest) accounted for 28% pf the tax revenue.

Immelt knows this, but going against the bosses policies, and speaking the unspeakable, what got into that boy?

Obama’s Jobs Czar outsources jobs…

The next time you hear some libtard tell you how evil republicans are responsible for all those high paying middle class jobs feeling America, remind them about Obama’s pet company that didn’t pay any taxes in 2010 despite over $5 billion in earnings and GE CEO Jeffrey Immelt, The Head Of Obama’s Jobs Council, who is moving even more of those jobs to China.

This is par for the course. GE has been one of those US companies at the forefront of this job shedding since the early Clinton years, where it justified doing a lot of that on the economic downturn. And I am not surprised to see them do more of the same now that another democrat they have bought & paid for is in charge and they can blame it on the very economic situation they helped him create. Back during the Clinton years GE moved a lot of their manufacturing operations to Mexico and even Canada, where labor was cheaper. Now the new destination seems to be China, where GE has been sending a lot of their meager remaining US manufacturing capability to recently.

The funny thing, well sad if you are one of the recipients of GE love, is that GE swore it was not cutting anyone here in the US when that X-Ray team was moved to China. As with all leftists – and have no doubt GE is one of those companies run by people pandering to and spouting all the nonsense the left loves, not just for personal gain, but because they are believers: that’s why Immelt is on Obama’s jobs council – they where lying through their teeth. Got to love a “Jobs Council Head”, one of Obama’s big economic Czars, that has the balls to and no problem pulling stunts like this. Well, unless you are one of those many people out there that are looking for work, have been looking for work for a very long time now, or just lost your job because of this move. I am sure that if the big hitters in the LSM ever come about to reporting this, they will find a way to blame Boosh for this too!