President Obama selected Jeff Immelt, CEO of General Electric, to head up the committee for jobs development and USA competitiveness. Is that not the biggest canard of the century?
A month or so ago, Immelt announced that they were moving GE’s medical and health care division to China, ergo thousands of jobs lost. Now he announces that GE will invest $2 billion to help the Chinese develop and manufacture airplanes for the commercial and military market. Watch out, Boeing.
How can GE be so blatantly insensitive to the needs of America? The needs for jobs and the needs for revenue seem to be of no importance to Immelt. It is bad enough that they take every advantage of tax loopholes to minimize or even eliminate U.S. taxes, but to help the Chinese be competitive, insane.
I sure hope that our politicians in the state of Washington are as mad about this as I am.
