GE CEO Immelt Criticizes Obama and China

Dan Well
MoneyNews.com
2 July 2010

General Electric Chief Executive Officer Jeffrey Immelt reportedly had harsh words for President Barack Obama and China in remarks at a recent dinner with Italian executives.

The president is anti-business, and China is hostile to big foreign companies like GE, he said, according to the Financial Times.

It’s very rare for the CEO of a major company to make such remarks. GE claims the FT took them out of context.

As for Obama, Immelt complained that the White House has sought too much regulation in response to the financial crisis and that its policies endanger the “tepid” U.S. recovery.

“People are in a really bad mood (in the United States),” he said.

“We are a pathetic exporter. We have to become an industrial powerhouse again, but you don’t do this when government and entrepreneurs are not in synch.”

Business doesn’t like the president, and he feels the same way about business, Immelt said. He contrasted Obama’s attitude to that of German Chancellor Angela Merkel, who defends German industry, Immelt said.

The article continues at MoneyNews.com

H/T Kosmosnet

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