Russ Feingold, former Democratic senator from Wisconsin, is calling for the resignation of Jeffrey Immelt as head of Obama's White House Council on Jobs and Competitiveness. Immelt, CEO of G.E., got some bad press last week when news broke that the largest corporation in the country paid no taxes last year. Not only that, says Feingold - Immelt's salary doubled and he has the nerve to ask for "concessions" from his unionized workers. Here's the email Feingold just sent out --
It's everything that's wrong with corporate power today:
News broke last week that General Electric, America's largest corporation, made $14,200,000,000 in profits last year and paid $0 in taxes -- that's right, zero dollars in taxes. At the same time, C.E.O. Jeffrey Immelt saw his compensation double. Now I hear that GE is expected to ask 15,000 of their unionized workers to make major concessions in wages and benefits.
But what really adds insult to injury is the prestigious and influential position Jeffrey Immelt holds as chair of President Obama's Council on Jobs and Competitiveness.
That's wrong. Someone like Immelt, who has helped his company evade taxes on its huge profits -- and is now looking to workers to take major pay cuts after his compensation was doubled -- should not lead the administration's effort to create jobs.
We cannot stand by and watch while we are led down this road. Mr. Immelt must step down from the president's jobs panel -- and if he won't, President Obama needs to ask for his resignation.
Help us build public pressure on GE's Jeffrey Immelt to step down or President Obama to get his resignation from the jobs council: Sign our petition at www.ImmeltMustGo.com today!
How can someone like Immelt be given the responsibility of heading a jobs creation task force when his company has been creating more jobs overseas while reducing its American workforce? And under Immelt's direction, GE spends hundreds of millions of dollars hiring lawyers and lobbyists to evade taxes.
All of this at a time when Fox News and the right wing are demonizing public workers, like teachers, as the cause of our economic problems.
It's time for policymakers to stop coddling corporate interests, and get to work creating jobs and wealth for Main Street. We shouldn't reward wealthy CEOs and Wall Street for behavior that undermines the nation's economy.
Be a part of this meaningful fight. Help us tell President Obama that if GE isn't paying taxes or treating workers well, Immelt Must Go!
President Obama has been talking about how we must "win the future," and I agree with him in that goal. Jeffrey Immelt is not the person for that job.
Thanks for uniting as a progressive,
Feingold is emerging as the progressive leader many of us have been clamoring for. According to The Washington Post, MoveOn.Org will also be joining the petition drive to get rid of Immelt. Let's see... how about a petition drive to oust Timmy Geithner while we're at it? That's the guy who has the president's ear about gutting Social Security sooner rather than later, to make his Wall Street friends feel more "confident." That's the guy who orchestrated the no-consequences bankster bailouts. And, lest we forget, misremembered to pay some personal income taxes not too long ago. I need my confidence restored, bigtime.