This is the kind of badly flawed economics which is driven by ideology, where reality is sublimated to desired outcome, and in worst case scenarios, disconnected entirely, that Romney and Ryan have embraced Fox News Nuts have embraced it; right wing nut poll truthers have embraced it.
So here is a little more of that unpleasant (for the 1%ers) reality; Jack Welch is an idiot, Jack Welch was a crook. There really isn't a very good reason to listen to Jack Welch; he appears to have gone senile.......he is an old bag of bile. Rather like the Fox News Nuts Talking Heads, Rush Limbaugh, and the rest of the right wingers who have claimed the National Labor Stats are 'cooked'.
Not Romney, not Ryan, not Welch know diddly squat about how to create jobs. Jobs are NOT created by giving more money in the form of corporate welfare, or in personal tax breaks to the wealthy. They only give it to their executives, while stiffing their labor forces, including CUTTING their labor forces to squeeze a last dime out of them.
From Wikipedia:
Jobs are created when there is a demand for products and services; demand occurs when people are able to buy things. Customers are what drive demand, demand drives growth and jobs - not producers.
Jack Welch quit? Wow, I bet they were glad to see him go after he became a major embarrassment.
From CNN Money / Fortune: (emphasis added is mine - DG)
FORTUNE -- Jack Welch has left our building, metaphorically that is.
Welch said he will no longer contribute to Fortune following critical coverage of the former CEO of General Electric, saying he would get better "traction" elsewhere. On Friday, Welch suggested that the Obama administration, calling them "these Chicago guys," had manipulated the monthly jobs report in order to make the economy look better than it actually is just weeks before the election. Welch has been battered by criticism since making the suggestion on Twitter.
Monday morning on MSNBC's Morning Joe, Fortune managing editor Andy Serwer said there were a number of things wrong with Welch's tweet, the biggest of which was that the economy doesn't back up the former executive's claim that the numbers were faked.
"I think it's exactly the opposite of what Jack Welch is saying," Serwer said. "Things are actually improving."
CNNMoney, which shares content with Fortune.com, ran a story on Friday covering Welch's tweet. The piece said that even conservative economists thought Welch was wrong to question the jobs numbers. On Tuesday, Fortune.com ran a story detailing Welch's record as a job destroyer. GE lost nearly 100,000 jobs during the 20 years in which Welch ran the company. "I never put myself out there as an employment agency," Welch told Fortune.
MORE: Obama trounces Jack Welch's jobs record
Following the story, Welch sent an e-mail to Reuters' Steve Adler and Serwer saying that he and his wife Suzy, who have jointly written for Reuters and Fortune in the past, were "terminating our contract" and will no longer be sending our "material to Fortune." Reuters' story about Welch's tweet quoted money manager and blogger Barry Ritholtz, who said Welch's comments were laughable. Reuters wrote that Ritholtz comments were referring to allegations that Welch regularly manipulated GE's earnings during his tenure as CEO in order to best Wall Street profit estimates.
Fortune tried to contact Welch to find out if the resignation was related to our reporting of his tweet, but Welch didn't return our phone call.
Since leaving GE (GE), Welch has become a media figure, appearing regularly on CNBC and writing opinion pieces along with his wife, which have appeared in Reuters, Fortune and elsewhere.
So here is a little more of that unpleasant (for the 1%ers) reality; Jack Welch is an idiot, Jack Welch was a crook. There really isn't a very good reason to listen to Jack Welch; he appears to have gone senile.......he is an old bag of bile. Rather like the Fox News Nuts Talking Heads, Rush Limbaugh, and the rest of the right wingers who have claimed the National Labor Stats are 'cooked'.
Not Romney, not Ryan, not Welch know diddly squat about how to create jobs. Jobs are NOT created by giving more money in the form of corporate welfare, or in personal tax breaks to the wealthy. They only give it to their executives, while stiffing their labor forces, including CUTTING their labor forces to squeeze a last dime out of them.
From Wikipedia:
Welch has stated that he is not concerned with the discrepancy between the salaries of top-paid CEOs and those of average workers. When asked about the issue of excessive CEO pay, Welch has said that such allegations are "outrageous" and has vehemently opposed proposed SEC regulations affecting executive compensation. Countering the public uproar over excessive executive pay (including backdating stock options, golden parachutes for nonperformance, and extravagant retirement packages), Welch stated that CEO compensation should continue to be dictated by the free market, without interference from government or other outside agencies.[10]
Welch's income and assets came under scrutiny during his divorce from his second wife Jane in 2001, after she included details in divorce papers of what she said he received as benefits from GE. Welch's contracts with GE were subsequently investigated by the U.S. Securities and Exchange Commission (SEC).[11][12] The retention package, worth $2.5 million, agreed upon by Welch and GE in 1996 promised him continued access after his retirement to benefits he received as CEO including an apartment in New York, baseball tickets and use of a private jet and chauffeured car.[11][13] These benefits were agreed upon in lieu of a more traditional stock package because, according to Welch, he did not want more money, preferring instead to retain the lifestyle he had enjoyed as CEO once he retired. According to an interview with Welch in 2009 this agreement was filed with the SEC. As a result of the media attention his divorce proceedings brought to his retention package, particularly claims that such a package made him look "greedy", Welch chose to renounce the benefits.[13]No wonder this guy is a Romney supporter; he's the role model for Romney greed. He's the role model for getting companies into trouble for being crooked, and having to pay large fines too, apparently, although Welch and Romney led the respective companies where they served in an executive capacity into two different kinds of trouble that way. This was the way Welch 'welched', cheating his investors. And this was the way Romney screwed people, among others.
Jobs are created when there is a demand for products and services; demand occurs when people are able to buy things. Customers are what drive demand, demand drives growth and jobs - not producers.
Jack Welch quit? Wow, I bet they were glad to see him go after he became a major embarrassment.
From CNN Money / Fortune: (emphasis added is mine - DG)
The former top GE executive says he will no longer write for Fortune following coverage of his jobs conspiracy tweet.
Jack Welch
Welch said he will no longer contribute to Fortune following critical coverage of the former CEO of General Electric, saying he would get better "traction" elsewhere. On Friday, Welch suggested that the Obama administration, calling them "these Chicago guys," had manipulated the monthly jobs report in order to make the economy look better than it actually is just weeks before the election. Welch has been battered by criticism since making the suggestion on Twitter.
Monday morning on MSNBC's Morning Joe, Fortune managing editor Andy Serwer said there were a number of things wrong with Welch's tweet, the biggest of which was that the economy doesn't back up the former executive's claim that the numbers were faked.
"I think it's exactly the opposite of what Jack Welch is saying," Serwer said. "Things are actually improving."
CNNMoney, which shares content with Fortune.com, ran a story on Friday covering Welch's tweet. The piece said that even conservative economists thought Welch was wrong to question the jobs numbers. On Tuesday, Fortune.com ran a story detailing Welch's record as a job destroyer. GE lost nearly 100,000 jobs during the 20 years in which Welch ran the company. "I never put myself out there as an employment agency," Welch told Fortune.
MORE: Obama trounces Jack Welch's jobs record
Following the story, Welch sent an e-mail to Reuters' Steve Adler and Serwer saying that he and his wife Suzy, who have jointly written for Reuters and Fortune in the past, were "terminating our contract" and will no longer be sending our "material to Fortune." Reuters' story about Welch's tweet quoted money manager and blogger Barry Ritholtz, who said Welch's comments were laughable. Reuters wrote that Ritholtz comments were referring to allegations that Welch regularly manipulated GE's earnings during his tenure as CEO in order to best Wall Street profit estimates.
Fortune tried to contact Welch to find out if the resignation was related to our reporting of his tweet, but Welch didn't return our phone call.
Since leaving GE (GE), Welch has become a media figure, appearing regularly on CNBC and writing opinion pieces along with his wife, which have appeared in Reuters, Fortune and elsewhere.
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