Obama & GE sittin' in a tree: Obama names GE's Immelt head of new economic panel

[Karmadillo]

http://www.reuters.com/article/idUSN2115009020110121

UPDATE 3-Obama names GE's Immelt head of new economic panel
By Jeff Mason and Caren Bohan

WASHINGTON, Jan 21 (Reuters) - U.S. President Barack Obama will name General Electric Co. (GE.N) Chief Executive Jeffrey Immelt to head a new economic advisory panel on Friday focused on promoting growth by investing in business.

The "President's Council on Jobs and Competitiveness," will work to encourage companies to hire and invest in U.S. competitiveness, the White House said in a statement.

The council replaces an economic recovery advisory panel led by former Federal Reserve Chairman Paul Volcker, who is stepping down when his group dissolves next month.

Bringing Immelt on board solidifies Obama's efforts to improve his relationship with the business community, with whom the White House has had strained ties for the last two years.

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[xchrom]

1. shrug -- the Single Narrative Express still on track.

no matter the political party in charge.