Immelt: Businesses must do more on jobs

[Acid Trip]

So the CEO of a company that's SHED 36,000 jobs over the last three years is telling other businesses to hire? Pot meet kettle. Kettle, this is pot. And this guy is leading Obama's job council? The clown show continues!

Immelt: Businesses must do more on jobs
By Chris Isidore @CNNMoney July 11, 2011: 6:13 PM ET

http://money.cnn.com/2011/07/11/news...mmit/index.htm

NEW YORK (CNNMoney) -- The head of General Electric told a jobs summit at the U.S. Chamber of Commerce Monday that businesses needed to take the lead on job creation.

At a conference where many of the comments were focused on government barriers to hiring, GE (GE, Fortune 500) Chairman and CEO Jeffrey Immelt acknowledged there needed to be some policy changes by Congress and the Obama administration. But he said that the responsibility for hiring lay with businesses.

"The people who are part of the business sector, the people in this room, have got to stop complaining about government and get some action underway," he told the group. "There's no excuse today for lack of leadership. The truth is we all need to be part of the solution."

Immelt is the chair of President Obama's Council on Jobs and Competitiveness. He said the group has made a number of recommendations for changes in government policies that should be able to help job creation, such as the executive order announced Monday asking independent agencies to rid their books of old and outdated regulations.

Immelt said he is committed to working with Obama on other moves that can help hiring, and that he expects to have proposals by the end of the year that should help to create up to 1 million jobs.

But he said that it's important that businesses take action -- like taking some risks, and thinking about bringing back jobs that had been moved overseas.

If companies examine the changing economics of some of those jobs, Immelt said they would find it is beneficial to bring jobs back home, which he said GE has done with some jobs now being moved back to Kentucky and Michigan.

And he said that arguing between business groups and the government isn't in the best interest of the nation's economy.

"We can't always be fighting. We need to act, and the private sector can do more," he said.

[FBD]

Yeah Jack's probably been kicking himself ten times over for picking such a jerkoff for his succession.