Obama names GE CEO as head of new economic board
From Michael O’Brien – 01/21/11 07:41 AM ET ￼￼
The top executive at one of America’s largest corporations is taking over as head of President Obama’s outside economic advisory council.
Obama named Jeffery Immelt, the chief executive officer of General Electric (GE), as chairman of the new Council on Jobs and Competitiveness. The president announced the appointment during a Friday trip to Schenectady, N.Y., where he visited the birthplace of GE, the fourth-largest U.S. company, according to Fortune magazine.
Immelt replaces Paul Volcker, the former chairman of the Federal Reserve Board, who will step down from his post as head of the Economic Recovery Advisory Board, an outside panel recommending solutions on how best to boost the economy. Immelt had previously served as a member of the board, which includes prominent business and labor leaders.
Appoint Jeffery Immelt, Barry’s old protegé.
He will do to this land what he did for GE
Run it into the ground
No new jobs to be found
But promoting this President, that’s his forté.