Name:	Surfaceunits -	Reply
Subject:	Obama's Jobs Czar kills GE
Date:	11/13/2017 6:50:32 PM (updated 11/13/2017 7:03:34 PM)

After spending 900 billion tax dollars(it was actually given to leftist causes) Obola and his Jobs Czar joked about not being able to find any shovel ready jobs  .."those shovel ready jobs weren't so shovel-ready" (followed immediately by snickers from Obama and GE's Immelt, for the benefit of our huge force of unemployed)

So why couldn't he find shovel ready jobs in America as America's Jobs Czar and who exactly is Jeff Immelt? 

He’s the man who laid off 21,000 American workers, closed 20 factories, and has more than half of his remaining workforce overseas. 

He was one of the largest personal donors to Barry’s campaign. And why else is he sitting to Obama’s immediate left at those economic advisor meetings? Maybe because GE people donated $532,000 to the Obama campaign in 2008 alone? 

And why would GE do that? Because Obama was pushing wind power through subsidies while forcing coal power out through increased taxes and regulations. And who makes more wind turbines than any company in the world? GE does (I think you probably guessed that). 

And which company got $25 million in stimulus funds, $20 Billion in stimulus-generated government contracts, and $139 Billion in bailouts? GE of course.

Should GE’s Jeffrey Immelt Really Be Leading Our Job Creation Strategy?

There is no swifter way to alienate working class voters than to name an outsourcing CEO to lead your jobs strategy. Yet that’s exactly what President Obama is doing.

General Electric CEO Jeffrey Immelt has fooled the media and the White House into believing that he cares about American manufacturing jobs. I have a hard time imagining a worse pick, unless Obama would have tapped Immelt’s predecessor Jack Welch, who seemed fine with the idea of putting factories on barges in search of the lowest wages in the world.

Let’s look at GE’s jobs record. You would have difficulty finding a company that has outsourced more jobs and closed more American factories than GE. While they have slashed their American workforce to fewer than 150,000, GE has dramatically expanded its global presence, now employing over 300,000 workers worldwide. Yes, GE has brought a trickle of jobs back to the U.S. over the past two years, but it still outsources more than it insources. And those executives at GE are not clueless—they realize the value of good publicity as it announces new hires at a time like this. But they do not devote nearly the same amount of publicity to their factory closings.

• In a speech to the Detroit Economic Club in 2009, Immelt berated “Buy American” policies while acknowledging that GE lived under domestic preference regimes in China, France, and other nations. In Immelt’s mind, it is fine for China and France to require to GE to make what it sells in their nations, but it’s not OK for America to do the same.
• Immelt essentially rules out any enforcement of our trade laws in his Washington Post op-ed today through a spurious claim that distorts the issue. So China can cheat all it wants, and Immelt wants us to do nothing. Trade enforcement is not “erecting barriers,” as Immelt alleges. Rather, trade enforcement is about removing distortions from the free market. Immelt reveals his true stripes with this ridiculous assertion. It’s a dangerous statement, and it demands an immediate and forceful rebuke from the White House.
• Immelt supported two of the most disastrous economic policies of the post-World War II era: financial deregulation and China’s entry into the World Trade Organization with few, if any, consequences for breaking the rules.

https://www.huffingtonpost.com/scott-paul/should-ges-jeffrey-immelt_b_812132.html

 It is apparent that Obama cared more about the donations than American jobs.

It is no surprise Immelt was a failure at jobs czar when you see what has become of GE.

General Electric Company (GE) Could Get Booted From Dow 30 Soon

GE – Following weak performance and slimmed-down operations, GE is in danger of losing its status as part of the Dow 30.

General Electric Company (NYSE:GE) is the oldest component of the venerable Dow 30 index, but the industrial conglomerate looks to be in severe danger of having its membership revoked.

A combination of weak share price performance and jettisoning several business units is putting GE in peril of being replaced in the index, which also makes up the Dow Jones Industrial Average (DJIA). Reuters has more details:

“Since it is trading at a low share price and has a small weighting in the index, that does put it at an increased risk of getting removed,” said Alex Bryan, director of passive strategies research at Morningstar in Chicago. “I don’t think it’s obvious that it is going to be removed from the index, but it certainly is at risk.”

GE’s shares last week closed under $20 for the first time in more than five years, its struggles made clear by a disappointing third-quarter earnings report last month. The stock closed at $20.49 on Friday, marking a 35 percent decline in 2017.

https://stocknews.com/news/ge-general-electric-company-ge-could-get-booted-from-dow-30/

Year-to-date, shares of GE has declined -33.04%, versus a 16.76% rise in the benchmark S&P 500 index during the same period.

GE Just Slashed Dividends By 50% in the First Cut Since the Financial Crisis

In a rare move, General Electric announced Monday that it plans to cut its quarterly dividend by half, from 24 cents a share to 12 cents a share. It marks the company’s first dividend cut since the financial crisis.

Many companies today are increasing their dividend payouts amid a strong stock market and stable economy. But investors have suspected a dividend cut was on the horizon after General Electric’s third quarter earnings missed the mark. The company trimmed its full-year guidance, another grim sign.

http://fortune.com/2017/11/13/ge-dividends-general-electric-stock/