U.S. not "trying that hard" on exports: GE's Immelt

Source: REUTERS

NEW YORK | Mon Oct 17, 2011 2:05pm EDT

(Reuters) - The United States is not trying hard enough as a nation to win business overseas, and that is contributing to its economic slump, said General Electric Co Chief Executive Jeff Immelt.

That is a big concern since boosting exports is one of the best ways the nation can tackle the stubbornly high unemployment that is leading a growing number of Americans to question how well the economic system is working.

"We're not trying that hard," Immelt told a Thomson Reuters Newsmaker event in New York on Monday. "We haven't really tried as hard as we can to compete, educate and sell our products around the world, and I think we can do better."

Still, the head of the largest U.S. conglomerate and a top adviser to the Obama administration on jobs and the economy believes the United States can improve. He noted that GE expects to generate 60 percent of its sales outside its home country this year.

Read more: http://www.reuters.com/article/2011/10/17/us-ge-immelt-idUSTRE79G2L220111017?feedType=RSS&feedName=topNews&rpc=71

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Aren't most GE jobs in China now?

Doesn't jive with this:

"U.S. not "trying that hard" on exports"

Did one journalist call him out on his hypocrisy?

It is the business itself that needs to sell itself.

What does he want? For others to buy their products cheaper with US citizens subsidizing them for lost revenue? Screw him!

Those genious titans of industry? Dare I say, the 1%?

"Immelt, a lifelong Republican, has drawn fire from some shareholders for his work with the Democratic Obama administration. The Cincinnati-born CEO defended his role, saying GE executives have long had a voice in Washington."

http://economictimes.indiatimes.com/news/international-business/ge-head-jeffrey-immelt-us-economy-needs-more-confidence-drive/articleshow/10391668.cms

Why did Obama appoint this asshole to the "economic recovery" position?

GE pays no taxes and most of their jobs are in China. :wtf:

I guess he thinks we should be happy to make 3 bucks a day.

What a POS.

But why the hell is he Obama's economic recovery guy?

I mean...:wtf:

The same reason he put in all of the other corporatists in his administration. At this point everyone needs to accept it's not a coincidence.

go out and sell Immelt

is this the guy that has over 50% of his employees overseas

One of the biggest reasons for the US trade deficit is the "strong dollar" policy pursued by the Treasury at the behest of finance. (A strong dollar helps the bankers throw their weight around internationally.)

sell some planes and cars and other stuff. Don't these companies employ their own sales people and lobbyists?


On edit: We already provide them with armies in other countries, now they want us to do their sales work too. The way it is maybe we should stop "protecting American interests" around the world and make them keep their business here if they want protection.

Between 2009 and 2011, GE has closed 29 plants in the U.S. and reopened them overseas.

Since 2002, GE has outsourced a fifth of its workforce in the U.S.


What is this guy doing in the Obama administration?

Last week, the White House advisory panel Immelt heads submitted a report to the Obama administration saying that attracting more foreign capital, being more aggressive in energy policy, and investing in infrastructure could help create jobs in an economy struggling with high unemployment.
...
Partisanship in Washington is hurting the nation's economy by slowing efforts to reform the system, Immelt said
_______
The following sentences are lame, though. The article is not well written.

Yeah - GE's Jobzar going overseas. :puke:<-Immelt

Because from all I've heard, the big, bad old government can't create any jobs or demand or much of anything. Why aren't the titans of industry winning business overseas? Are they the ones not trying that hard? And why might that be? Well, as long as you say sound bite-worthy things, nobody at a Thomson Reuters Newsmaker event will ask any inconvenient questions.

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if y'all in the business community would quit closing factories and contracting the work to Chinese sweatshops.

Okay, let's see here...the Chinese government subsidizes its industrial companies. They have no labor laws to speak of and even fewer environmental protection laws.

"Comrade CEO! The refrigerant pipe is dripping ethylene glycol into the baby milk! What should we do?"
"Wait till the end of shift to fix it, if we stop the line now we'll miss our quota."