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Obama Getting Bad Economic Advice?

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  • Description

    FBN’s Gerri Willis on the lackluster resume of the CEOs who have the president’s ear.

  • Duration 2:44
  • Date

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President Obama kicked off its second year in office by announcing a new advisory council for jobs.

It was going to be comprised of the top names in business hampering innovation and competitiveness back to the US jobs market.

Our challenge is to do everything we can to make it easier for folks to bring products to market and the start and expand new business businesses.

And to grow and hire new workers.

Well -- in five months later the results are less than stellar as evidenced in today's dismal jobs report.

It could be very good reason why this panel isn't living up to hide a majority of the companies represented are not practicing what they preach.

Starting with the top dog GE CEO Jeffrey Immelt.

This is -- man tapped to lead the new -- -- job creation in this country.

And just one decade GE went from employing 313.

Thousand people.

168000.

This country -- having only a 134000.

American workers.

General Electric often stood at the top of fortune's most admired list but not since 2007.

As it reached number one.

Also on the list Xerox CEO Ursula Burns last year her company laid off 2500 workers.

And more are expected in in their Western New York senator.

President Obama is also seeking advice from the American Express CEO.

And the same month the council was -- the credit card company.

Announced plans to close customer service center in North Carolina cutting 15100 jobs.

That's after 4000 -- in 2009.

And 7002008.

DuPont CEO Alan Coleman had to hand out 4500 pink slips in just the first year -- -- ten year.

The third biggest chemical maker in the US eliminated more than 141000 employees during the recession.

And just today Boeing -- CEO James McNerney is also on the council told more than 500 employees they were being let go.

Intel CEO -- it's -- often rank as the highest paid CEO during his tenure his staff has been read his from a 104000.

To less than 83000.

Eastman Kodak and was less than 191000 people down 20%.

In two years.

And this want a personal favorite President Obama is getting advice from Citigroup chairman Richard Parsons.

Now this is a company that during the recession laid off more than 50000 workers -- only after they took 45 billion dollars in taxpayer money just to survive.

And this my friends is just a sampling of the kind of people who have the president's -- It's no wonder were stuck on stupid we're not making headway with the jobs crisis because the people telling the White House what to do.

They don't have any answers either with friends like that.

Mr.

President.

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