Originally posted by Unregistered
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In February 2009, (Jeffrey) Immelt was appointed as a member to the President's Economic Recovery Advisory Board*to provide the president and his administration with advice and counsel in fixing America's economic downturn. When President Obama chose to put Jeffrey Immelt at the head of the Economic Advisory Board, he felt that Immelt had attributions in knowing what would help the global economy. Obama has reported that Immelt has emerged as one of his top economic advisors in regards to trying to rebuild America's economy. On January 21, 2011, President Obama announced Immelt's appointment as chairman of his outside panel of economic advisers, succeeding former*Federal Reserve*chairman*Paul Volcker. TheNew York Times*reported that Obama's appointment of Immelt was "another strong signal that he intends to make the White House more business-friendly." *Immelt will retain his post at GE while becoming "chairman of the Council on Jobs and Competitiveness, a newly named panel that President Obama is creating by*executive order." Despite this, in July 2011 Immelt's General Electric announced that it is in the process of relocating its*X-ray*division from*Wisconsin*to China.*Immelt had previously referred to*China*as GE's "second home market".
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