General Electric Does a General McChrystal
July 6, 2010
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The CEO of General Electric, Jeff Immelt, is unlikely to suffer the same fate as former U.S. Army Gen. Stanley McChrystal for calling the U.S. “a pathetic exporter” and blaming President Obama for the nation’s economic distress. But maybe he should.
Speaking at a luncheon in Rome, Italy, Immelt complained about what he called a “terrible” national mood in the U.S. and expressed concern that the Obama administration’s pending financial reform would dampen a “tepid” U.S. economic recovery.
In an oversimplification worthy of radio talker Glenn Beck, Immelt declared that business executives dislike the president, and the president doesn’t like business, according to a report in the Financial Times.
“This is the same CEO who relentlessly chases cheap labor all over the world while complaining the U.S. is exporting too much of its manufacturing capability,” said IAM President Tom Buffenbarger. “Instead of exporting jobs, at which Immelt is expert, GE needs to focus on preserving the capability to export U.S.-made products.”
