(To to jingle of “The Jeffersons”) “G.E. is movin’ on up. Movin’ on up. To a deluxe apartment in Shanghai…” Or so the song goes…well, kind of.
Growing up as a kid, I loved “The Jeffersons”; it ranks in my personal top 10 sit-coms of all-time. However, G.E.’s X-Ray business moving to China isn’t funny, as it plans to invest nearly $2 billion dollars on foreign soil. While G.E. certainly has the right to do what it wants, one must question the means and motivation to move money and jobs from the U.S. to China.
One only need look to President Obama’s chairman on the Council on Jobs and Competitiveness, which is G.E.’s chairman and C.E.O., Jeffrey Immelt, and suddenly the picture becomes clear: President Obama is more concerned with global markets and securing favor with China than clearing the way for businesses to create jobs on U.S. soil. Ironically, the president’s ideas on job creation added thousands to the federal payroll, which incidentally costs taxpayers millions of dollars per year. Meanwhile, the president’s own advisor, Jeffrey Immelt, creates private-sector jobs overseas. The irony is telling and painful, while the president’s double standard is indefensible.
George Jefferson wouldn’t accommodate a competitor so willingly as Obama does. In fact, Mr. J. would never surrender his piece of the pie; he would drive competition out of business. Unfortunately, the president not only gives China a slice, he tops it with whipped cream and puts a $2 billion cherry on top.