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.Hey dummy, government is exactly what's keeping small business from hiring right now. Nobody knows what their personnel costs will be thanks to Obamacare and other regulations, and with consumers holding onto their money out of fear of continued recession, hiring at this point would simply be foolish. Unless a business owner can make a very solid business case for a new employee, they're going to sit tight. Nobody can afford the luxury of employees who are not contributing to making a profit.
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."
And why would Immelt be making this pitch to business leaders?
Immelt is the chair of President Obama's Council on Jobs and Competitiveness.White House shill.
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2 comments:
GE is a dog of a stock...now I know why.
After 911 all stocks took a huge hit. Boeing and GE were both about $28 a share. Today GE is about $18 and Boeing is $72.
He's in the tank for Obama; maybe in the bag for him, too.
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