Feingold Challenges Jeffrey Immelt On New Position

Immelt-Obama

GE CEO Jeffrey Immelt and President Barack Obama

We actually applaud this surprising move by former Wisconsin Democratic senator Russ Feingold (recall that Feingold was swept out of office last year in a tsunami of Tea Party expression). Just in case you're keeping score, here's the opening shot in the corporate corruption wing of the Obama School of Economic Whatevers:

Friend,

IT'S EVERYTHING THAT'S WRONG with corporate power today: News broke last week that General Electric, America’s largest corporation, made $14,200,000,000 in profits last year and paid $0 in taxes—that’s right, zero dollars in taxes. At the same time, C.E.O. Jeffrey Immelt saw his compensation double. Now I hear that GE is expected to ask 15,000 of their unionized workers to make major concessions in wages and benefits.

But what really adds insult to injury is the prestigious and influential position Jeffrey Immelt holds as chair of President Obama’s Council on Jobs and Competitiveness. That’s wrong. Someone like Immelt, who has helped his company evade taxes on its huge profits—and is now looking to workers to take major pay cuts after his compensation was doubled—should not lead the administration’s effort to create jobs.

We cannot stand by and watch while we are led down this road. Mr. Immelt must step down from the president’s jobs panel—and if he won’t, President Obama needs to ask for his resignation.

Help us build public pressure on GE’s Jeffrey Immelt to step down or President Obama to get his resignation from the jobs council: Sign our petition at www.ImmeltMustGo.com today!

Jeffrey Immelt is a crook and a thief. There are many like him, but for now, we are criticizing this one. He and the president seem to have a lot in common, and appear to be the best of buds.
How can someone like Immelt be given the responsibility of heading a jobs creation task force when his company has been creating more jobs overseas while reducing its American workforce? And under Immelt’s direction, GE spends hundreds of millions of dollars hiring lawyers and lobbyists to evade taxes. All of this at a time when Fox News and the right wing are demonizing public workers, like teachers, as the cause of our economic problems.

It’s time for policymakers to stop coddling corporate interests, and get to work creating jobs and wealth for Main Street. We shouldn’t reward wealthy CEOs and Wall Street for behavior that undermines the nation’s economy.

Be a part of this meaningful fight. Help us tell President Obama that if GE isn’t paying taxes or treating workers well, Immelt Must Go!

President Obama has been talking about how we must “win the future,” and I agree with him in that goal. Jeffrey Immelt is not the person for that job.

Thanks for uniting as a progressive,

Russ Feingold
Founder
Progressives United

Feingold, despite his generally far leftist stance on most issues, this time is right on the mark. Serenedipity. Sort of like when far leftist Dennis Kucinich and libertarian Ron Paul find themselves arguing for the same crucial point in the House. As aggressive constitutionalists, we usually find Mr. Feingold's progressive recipe for success instinctively less than desirable, having no faith in Big Government to look after my own best interests, for richer or poorer, in sickness or in health, but when it comes to the wildly dishonest, greed-gorged antics of corporate raiders who loot the land and its people without conscience, I have no choice but to drop my shoulders just enough to service my own burden and to join the call for immediate corrective measures. We call for simple and plain considerations. This just looks bad.

Jeffrey Immelt is a crook and a thief. There are many like him, but for now, we are criticizing this one. He and the president seem to have a lot in common, and appear to be the best of buds.

This nation, however, struggling against a global economic bully called the deficit, might stand a fighting chance to recover from what ails us if both men retired to their next roles as men of leisure, formerly of a certain public prestige. But since it is easier to dismiss Mr. Immelt from his awkward position right now, dismissal is exactly what should be done.

Just look at the numbers.

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