Oh, dear, Obama's buddy Immelt, isn't going to like this, is he?
From the article:
Former General Electric CEO Jack Welch appeared on CNNâ€™s â€œPiers Morgan Tonightâ€ to discuss the economy and the race between President Barack Obama and the presumed Republican presidential nominee, Mitt Romney.
Morgan challenged Romneyâ€™s claim that, by virtue of the fact that he worked in private equity, he created jobs.
â€œThatâ€™s not why any private equity company buys a company,â€ Morgan said, â€œThey donâ€™t buy it to create jobs. They buy it to turn it around and make a profit.â€
â€œI agree with that,â€ Welch immediately.
â€œSo is [Romney] wrong to say â€˜itâ€™s about job creation?â€™â€ Morgan asked.
Welch conceded that the former Massachusetts governorâ€™s current â€œjob creatorâ€ argument may not be the correct one, but he also pointed out that Romney is not wrong when he says private equity helps create good, durable, and well-paying jobs.
â€œYou donâ€™t create scads of jobs, but you do create good paying jobs in a continuing industry,â€ Welch said.
Morgan moved on and asked Welch whether he thinks the discussion over whoâ€™s more qualified to create jobs will be the thing that decides the election.
â€œIf it is, Romney oughtaâ€™ wipe it out,â€ Welch said, â€œWhen you look at those things I gave you for the qualifications, compare it to someone who was handing out leaflets as a community organizer, the global experience of doing all this â€” Piers! Itâ€™s not even close!â€
Watch the discussion of Romneyâ€™s qualifications (via CNN):