And there was a time when people thought Obama was out to get the bankers...
Richard Parsons, chairman of the board of directors of Citigroup, has been named
to President Barack Obama's advisory panel on jobs and the economy. The
President's Council on Jobs and Competitiveness, to be chaired by
General Electric CEO Jeffrey Immelt, will focus on ways to promote
growth and hiring in American businesses.
We expect someone to tell us that between the two, their respective companies have seen headcuts well into the tens of thousands. As a reminder, under Immelt alone, GE's track record of employment of US workers has been an utter and complete disaster.
[Immelt] runs a big company, but Immelt has shown more skill at cutting jobs, frankly, than creating. GE
finished 2009 with 18,000 fewer US workers than it had at the end of
2008, and US headcount is down 31,000 since Immelt's first full year in
2002. During his tenure, GE workers based in the US as a percentage of
total employees has fallen to 44% from 52%.
Perhaps if the members of the Immelt panel had more time to focus on fixing their companies so they did not rely 100% on the generosity of the US taxpayer, this country would actually generate some (non part-time) jobs...