Wednesday, 27 July 2011

Head of Obama's Economic Advisory Panel moves part of his business to China

GE Chief, Jeffrey Immelt, long-time friend and supporter of President Obama, is moving the headquarters of his Health-Care unit to China.  It's not quite "bailing out" because only a handful of top managers will be moving and "no jobs will be lost" for the X-Ray machine division.   Good optics for the head of the Economic Advisory Panel would be to expand the Chinese sales office, not move the main office.
H/T Gateway Pundit
GE employees in Beijing
assembling X-Ray devices.

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