President Obama noted in his January WSJ articleon regulatory burdens that "Small firms drive growth and create most new jobs in this country. We need to make sure nothing stands in their way."
He then appointed Jeff Immelt, CEO of General Electric to head up the President's Council on Jobs and Competitiveness?
Now there’s a guy with a small firm focus!
Hello! Immelt noted that he felt the key to growth was more manufacturing jobs and exporting, just what small businesses do (right!). What a surprise that Immelt would see the world that way! If GE (* Disclosure:General Electric is in the process of selling both CNBC and NBC Universal to Comcast*) and its ilk were responsible for the 8 million job losses in the recession, this might make some sense.
But of course this is not the case.
These large firms don’t employ many people, they are capital intensive (this is good), not labor intensive. Focusing on manufacturing and exporting isn’t going to get these people re-employed. It might be a great appointment to start fund raising for the 2012 election but, as has been the case, this approach is off the mark.