US Economy Needs Its Mojo Back: GE CEO Immelt

Published: Monday, 17 Oct 2011 | 11:28 AM ET
By: Reuters

he U.S. economy needs its mojo back—not just consumer confidence but a greater willingness to compete for business—in the eyes of General Electric Chief Executive Jeff Immelt.

The head of the largest U.S. conglomerate and a top adviser to the Obama administration on jobs and the economy said he believed the nation was not trying hard enough to compete with global rivals including China.

"This focus that globalization brings is good for us...If I thought we'd tried our best as a country and still had the kind of trade deficits we have today, I'd be depressed," Immelt told a Thomson Reuters Newsmaker event in New York on Monday.

"We're not trying that hard," he added. "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."

More: http://www.cnbc.com/id/44929510

How can we compete with slave wages in China and India....the places where "Jeff" sent many GE jobs to?

:rofl:

I guess what he means is - we could do a lot better if American workers were willing to work for what I pay people in China.

and Leo Hindry.

hopefully OWS will eventually reach Big media too

Here's more:

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

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."

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

This turd is one of the primary architects of the depression - one of the people that OWS is protesting against. Figures CNBC would be promoting his bullshit

Message removed by moderator. Click here to review the message board rules.