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GE, Obama and Immelt

February 26, 2011

You know Jeff Immelt was just appointed by Obama to head up a new group of businessman to work on getting jobs for Americans. Let’s see why he was chosen and then ask how he performed at his job as head of one of America’s largest companys over the last 10 years.

Immelt is the head of GE.

Immelt is one of Obama’s closest business friends and he has frequent meetings with Obama at the White house and elsewhere.

Immelt has been a big donor and supporter of Obama.

GE has been a big beneficiary of the Obama governments help. Like GE credit being given bank status in the great financial crisis (the ONLY non-bank to get that support).

Now, how has Immelt ACTUALLY performed such that he qualifies to head this new Obama job commission?

MISERABLY

Using an index value of 100 for the value of GE in 2001, we have GE winding up at a value of 45 after 10 years.

The S&P Stock Index wound up increasing in value from 100 to 111.

What? The index of 500 big stocks beat Jeff by 66 points??????????

YEP, JUST the guy to tell businesses how to do better. OR, maybe better advice is not to become an Obama supporter because it does not work.

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