Jeffrey Immelt's job-creation record = Dramatic drop in American employees over past five years

[somone]

http://philipdelvesbroughton.com/2011/01/21/prompted-by-the-presidents-appointment-of-jeff-immelt-as-his-jobs-tsar/

* In 1980, G.E. employed 405,000 people.
* In 2000, it employed 340,000 people.
* In 2005, four years into Immelt’s tenure, the number was down to 307,000.
* Today it employees 304,000, of whom fewer than half are here in the U.S.
* Between 2008 and 2009, the number of workers employed in the U.S. by G.E. fell from 152,000 to 134,000.
* Below is a graph from on G.E.’s own website which shows not only the drop in employees, but also the dramatic drop in American employees over the past five years.

[RUMMYisFROSTED]

1. Clearly a shit pick.

Again. :(

[denem]

5. You've thoroughly researched him right?

or are raw numbers Clearly enough for you.

Very Beckian.

[RUMMYisFROSTED]

13. GE CEO (R)

Go back to your tinker toys.

[girl gone mad]

16. The fact that you believe GE wasn't bailed out by taxpayers..

tells us that you haven't been doing your research.

You've got no room to criticize others.

[denem]

2. Big Drop in US, Europe over 2008-09. Doh.

Do you think it might have been the recession?

I'm surprised there wasn't a big increase in China
where growth was still chugging along at 7%.

[robinlynne]

15. WE're talking about the man Obama hired to tell him how to CREATE jobs!!!

[FiveGoodMen]

3. Makes you wonder why Obama picked him.

[denem]

4. Because GE didn't need a bailout?

He could always have picked another Goldman, Citi, or Fed. guy/gal .

[girl gone mad]

14. GE didn't need a bailout?

What planet have you been living on?

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/28/AR2009062802955.html

How a Loophole Benefits GE in Bank Rescue
Industrial Giant Becomes Top Recipient in Debt-Guarantee Program

General Electric, the world's largest industrial company, has quietly become the biggest beneficiary of one of the government's key rescue programs for banks.

At the same time, GE has avoided many of the restrictions facing other financial giants getting help from the government.

The company did not initially qualify for the program, under which the government sought to unfreeze credit markets by guaranteeing debt sold by banking firms. But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE.

As a result, GE has joined major banks collectively saving billions of dollars by raising money for their operations at lower interest rates. Public records show that GE Capital, the company's massive financing arm, has issued nearly a quarter of the $340 billion in debt backed by the program, which is known as the Temporary Liquidity Guarantee Program, or TLGP. The government's actions have been "powerful and helpful" to the company, GE chief executive Jeffrey Immelt acknowledged in December.


http://seekingalpha.com/article/105984-general-electric-gets-a-140b-bailout-what-s-the-point-of-aaa

General Electric Gets a $140B Bailout - What's the Point of AAA?

Tell me again what a triple-A rating is good for? Not a whole lot, if one of the iconic triple-As in American industry, General Electric, has to go hat in hand to the federal government for a $140 billion bailout.

Or maybe G.E. isn't the bulletproof financial juggernaut the rating agencies say. The company's vaunted GE Capital unit has supposedly been a money machine for years, having generated solid returns come rain or shine. By now, the unit generates upwards of 40% of G.E. overall profits.

Except there's one problem: G.E.'s financial services business may be the blackest box on Wall Street. The unit has little transparency, no regulatory oversight, and now, we are finding out, an unstable funding model.



GE, sucking on big government's teet for decades, gleefully cutting the throats of the American workers and taxpayers.

[saras]

6. No it doesn't, it makes it perfectly clear

[FiveGoodMen]

7. Yup.

[denem]

8. I mean you would have put on workers 2008 - 2009?

Right? & damn the torpedoes.

2001 - 2005 were Bushian good times

I know, I know
GE makes light bulbs
They operate in a Vacuum.

[Smashcut]

11. Correction: GE makes light bulbs in China.

Now that they shipped all the jobs there, under Immelt's leadership.

[NNN0LHI]

9. My father worked at a General Electric factory in 1980 that is torn down now

They made commercial toasters, drinking fountains, coffee makers and other stuff like that. Imagine that is all made overseas now.

Don

[rgbecker]

10. Clearly the guy for the job to create jobs for Obama.

Immelt's track record proves he can do it and in hard times. A million a year would not be too much to pay him for the great work he has done creating jobs at GE.

Wait a minute....he makes how much?

Obama. Corporations are not about creating jobs. They are about exploiting labor, selling crap to unwary consumers and making a profit for their shareholders...CEO's usually included. You only want one term? Keep it up.

Google entry below:

Jeffrey R Immelt, CEO of General Electric (GE), Earns $12.6 milMar 31, 2005 ... Jeffrey R Immelt's Compensation Vs. Conglomerates Medians ...
www.forbes.com › Lists › Executive Pay - Cached - Similar

[girl gone mad]

12. k & r

Failing up - it's what corporate fat cats are best at.