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Strategies & Market Trends : John Pitera's Market Laboratory
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To: nspolar who wrote (12436)6/26/2009 2:45:52 PM
From: nspolar1 Recommendation  Read Replies (2) of 33421
 
Jeff Immelt must be a cowboy! Color of hat however unknown.

" Chief Executive Jeff Immelt said on Friday the United States needs to refocus its economy on manufacturing and exporting if it wishes to recover from a brutal recession.

The world's largest economy can no longer count on consumer spending to drive demand, nor can it rely on Wall Street financial wizardry if it wants its population to continue to enjoy a high standard of living, the head of the largest U.S. conglomerate said.

"We should clear away any arrogance, false assumptions, or a sense that things will be 'OK' just because we are America," Immelt told the Detroit Economic Club. "Our competitive edge has slipped away and this has hit the middle class hard."

And then he hit the nail on the head.

"The move reflects Immelt's belief that, like many U.S. companies GE has turned too many core technological procedures over to outside contractors and foreign operations.

"In some areas, we have outsourced too much," Immelt said, according to a copy of his prepared remarks. "We plan to 'insource' capabilities like aviation component manufacturing and software development."

Immelt must be doing some real work and thinking, as opposed to having sex all the time with his sectretaries. Welch in my humble opinion was a dufass extraordinaire, one of the bunch that helped create all this mess.

It really in my opinin ain't all that complicated.

Is GE going to be the buy of the century?

TF
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