President Obama’s decision to make GE CEO Jeffrey Immelt chair of the President’s Council on Jobs and Competiveness has come under attack from FreedomWorks and the Free Enterprise Project, which are calling for Immelt to be fired.
The groups, which have launched an online ad and a petition, say that Immelt’s leadership will lead to more “crony capitalism,” with the government helping a specific business or industry. They are also concerned that Immelt, who will remain CEO, will use his position to help GE specifically.
The groups report that during Immelt’s time as CEO, GE lobbied for the stimulus bill, supported cap-and-trade, and took a $16 billion dollar loan from the Federal Reserve.
Over at Exchequer, Kevin Williamson wrote yesterday about why Immelt will likely help promote big business, not free markets.