Yes, indeed. President Obama searched and searched to find the right man for the right job. He needed a front man who seemed to have the credentials of free enterprise, but who underneath was a corporate shark who knew how to get his piece of the federal cornucopia. One who knew that most green initiatives are damaging to the interests of the very industry he represents and can gleefully destroy his fellows while sucking up federal money for his own company.That man is Jeffrey Immelt. He is now the chairman of the President's Council on Jobs and Competitiveness (yeah, right) as well as the chief executive officer of General Electric. It is a good fit. Immelt has considerable experience with government. Aside from eliminating 32,000 GE jobs, or sending them overseas between 2005 and 2009, Immelt capped 2009 and 2010 by earning huge fines from the Federal Securities and Exchange Commission for stock manipulation, insider trading, and improper accounting procedures in its financial branch.
So, like tax-dodger and accounting illiterate Timothy Geithner at Treasury, Immelt knows both how to grow business (but only his own) and how to get caught with his hand in the cookie jar by a federal agency. That makes him a perfect Obama appointee. If there's anybody who knows how to send jobs overseas while claiming to "create" jobs in America, it's Immelt. Obama needed to appoint a chairman who didn't have a former membership in the Socialist Workers Party and looked like a successful American businessman. And he got one.
As for creating jobs, Immelt uses the same kind of calculus as Obama. Count "created and saved," and don't mention where they were created, where they were saved, and most importantly, where they were lost. Although GE's workforce is back nearly to 2005 levels, very few are actual net additions to the American workforce. As for the SEC fines, well they were only a few dozen millions of dollars, but Immelt made sure they reached quiet civil compromises without any admission of wrongdoing before the cuffs could go on. In 2010 alone, GE was penalized $23.4 million for its involvement in the Iraq "oil for food" scandal.
Immelt considers renewable energy projects (rather than actual manufactured products) to be his highest priority. And in keeping with that, he has managed to steer all kinds of federal funds to GE to advance the mutual government/big corporation green weenie agenda, even before his appointment as chairman. Among his clever gimmicks is to promote Gore-like carbons taxes while at the same time seeking carbon credits for GE. Nothing like jacking-up the cost of fossil fuels during a deep recession. How is that going to make American more competitive and create jobs (in America, at least)? It's like rubbing dirt into a wound to make the wound heal faster.
But knowing how to play the game, set up phony initiatives that get huge federal support, create a job while destroying five others, and directing the lion's share of profits to your own company while claiming to be "for the average American" is a hallmark of the Obama/big corporation/big union strategy. I can't help wondering if Immelt thinks that there will be a government takeover of all energy producing and energy using mega-corporations, and that he is the perfect guy to be its first commissar.
Thomas Edison must be rolling over in his grave.











