Obama taps GE chairman for new economic group
January 21st, 2011
02:12 PM ET

Obama taps GE chairman for new economic group

By CNN Wire Staff

Washington (CNN) - President Obama announced the creation of an economic advisory council Friday that will be headed by Jeffrey Immelt, the CEO and chairman of General Electric.

The President's Council on Jobs and Competitiveness will replace the Economic Recovery Advisory Board that was headed by former Federal Reserve Chairman Paul Volcker.

Volcker's board helped pull the economy "back from the brink," Obama said. Immelt's panel will be charged with "putting the economy into overdrive."

"Jeff's somebody who brings a wealth of experience to the table," Obama said. "We think GE has something to teach businesses all across America."

Obama made the announcement while visiting a GE plant in Schenectady, New York.

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Topics: European Union • GM • President Obama

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soundoff (10 Responses)
  1. Marcuscassius

    Isn't this what the Republicants were hired for? Why are they giving the rich money and pushing bills through that no one wants when they should be creating jobs? Vote em all out and get me a different party to run against the Dems

    January 21, 2011 at 2:56 pm |
  2. Roger

    GE is not really doing all that well, its stock has been stuck for some time, and Immelt has not achieved very much since taking the top job there. Further, he's a recognized Obla Bla supporter as well as witnessing a lot of Federal contracts' revenue at GE. Bad choice. Obla Bla should have chosen a CEO whose business has done well in spite of the turndown, has little if much federal business and has hired people at all levels during the downturn. I agree that GE being a multi-industry corporation with an excellent USA HISTORY OF MANUFACTURING IS VERY SUITABLE BACKGROUND, but I am not convinced many other CEOs would look to Immelt for inspiration because he's not "delivered the results." Now that Eric Schmidt of Google is stepping away from the top job there, HE might have been an interesting choice .. or ... Another would be AG Lafley who just retired from P&G .. or .. United Technologies' retired Chmn George David whose record was better than Immelt's in similar industrial & commercial market segments.

    January 21, 2011 at 3:41 pm |
  3. John G

    Even I didn't think Obama was into "tapping" anyone but his wife.

    January 21, 2011 at 6:36 pm |
  4. Ryan H

    How can Obama sell out so fast? The american worker is unrepresented. Obama promised to bring jobs back, and has instead chosen to team up with one of America's largest exporter of jobs? I am from the working poor class. I am a veteran and now a student. I have only one thing to say, Washington has lost its way. Big business and now government have lost touch with the pains of the American people. Someone needs to stop the madness that is happening in America.

    January 21, 2011 at 6:50 pm |
  5. Jean

    No mention of GE's $750 million gas turbine contract with India?
    New tactic, same agenda.

    January 22, 2011 at 10:29 am |
  6. Howard

    Barack Obama: "I never deceived the American people, and I promise I will never do it again".

    January 24, 2011 at 1:41 am |
  7. Zigma

    I applaud Mr. Obama for appointing Mr. Immelt to head the job creation taskforce. When it comes to areas such as infrastructure, alternative energy, space exploration that the country needs to double up on; big business is definitely needed to get things going. However, the Administration, should not take its eyes off helping small and medium sized businesses. Working with one segment should not diminish any effort in helping out the other.

    January 25, 2011 at 4:18 pm |
  8. karel eekels

    Why not have the likes Dr.Thomas Sowell, and colleague Dr. Walter Williams share their wisdom with this administration?
    These two great knowledgeable citizens have a lot to contribute wherefrom everybody can benefit.

    January 25, 2011 at 11:06 pm |
  9. MARCO P

    I THINK IT IS TIME FOR CONGRESS TO INVESTIGATE THE RELATIONSHIP BETWEEN GE AND OBAMA. I CAN'T BELIEVE THAT ALL THIS HAND HOLDING IS LEGAL AND IF THIS WAS BUSH THEY WOULD HAVE HIM UNDER INVESTIGATION AND CONVICTED ALREADY!!!

    February 3, 2011 at 2:22 pm |
  10. Liz Carter in Georgia

    @Marco P; HAND HOLDING? Well, if that's what you'd like to call it! But you and the others who are in that same frame of mind; just remember if that is what it is, BE GLAD SOMEONE WAS HOLDING HANDS to keep BUSH and CHENEY off the hook! That should've been the first can of worms opened up by ATTY GEN ERIC HOLDER! PLEASE! For GODS' sakes, don't get me started with what needs to be investigated, charged, prosecuted, and convicted during the BUSH/CHENEY ERA! In most countries, they'd be convicted of WAR CRIMES!

    February 4, 2011 at 2:53 pm |