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 CNN’s “Piers Morgan Tonight†to discuss the economy and the race between President Barack Obama and the presumed Republican presidential nominee, Mitt Romney.
Morgan challenged Romney’s claim that, by virtue of the fact that he worked in private equity, he created jobs.
“That’s not why any private equity company buys a company,†Morgan said, “They don’t buy it to create jobs. They buy it to turn it around and make a profit.â€
“I agree with that,†Welch immediately.
“So is [Romney] wrong to say ‘it’s about job creation?’†Morgan asked.
Welch conceded that the former Massachusetts governor’s current “job creator†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.
“You don’t create scads of jobs, but you do create good paying jobs in a continuing industry,†Welch said.
Morgan moved on and asked Welch whether he thinks the discussion over who’s more qualified to create jobs will be the thing that decides the election.
“If it is, Romney oughta’ wipe it out,†Welch said, “When 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 — Piers! It’s not even close!â€
Watch the discussion of Romney’s qualifications (via CNN):
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Comments: 2
Let me ask people, do you deliberately let the paint on your house get bad so you can give someone a job. Do you wear your clothes out to keep the factories going. No. Of course not. If you're running a democracy the companies begin to form because somebody sees a need.
People's shoe's and clothes are wearing out. Wow . We can make a mint. Let's start hiring right now.
People that love the challenge of making money are doing it for the challenge of making money. The jobs are the trickle down. See how well that works? :)
RoryAnn's article, “They don’t buy it to create jobs. They buy it to turn it around and make a profit.”
So what? Does anyone think that President Obama is in politics because he was worried about us?
If you want someone sentimental and mushy to run huge competitive organizations they won't be very dependable. :)
Great article Roryann.