In his best man of the people pitch, former General Electric CEO Jack Welch wrote in today’s Wall Street Journal opinion piece that many people he knows are “having such a hard time finding work.”
He performed a public service. The vast majority of Americans had no idea of the economic plight of the one percent crowd. Thanks, Jack.
Concern for the unemployed is a touching sentiment from old “Neutron Jack,” who, during the glory days of the Cold War, was working on a bomb that would destroy people, but not buildings. Tipping my hat to Forbes, the neutron bomb was the ultimate “capitalist tool.”
Rupert Murdoch’s Journal provided Welch a platform to defend his Oct. 5 Tweet that accused the Obama White House of “cooking” the better-than-expected unemployment numbers put out by the Bureau Labor Statistics. “Unbelievable jobs numbers…these Chicago guys will do anything…can’t debate so change numbers.”
Welch’s only admitted mistake: He would have added a few question marks at the end of the Tweet.
Welch’s wild conspiracy theory was not taken too lightly at Fortune and Reuters, which had published Welch’s columns. Fortune.com’s Stephen Gandel posted a piece Oct. 9, reporting that President Obama has a much better job creation record than Neutron Jack, who presided over GE for two decades.
“GE lost nearly 100,000 jobs while Welch was at the helm of the company -- a tenure that spanned two of the most robust periods of economic growth in American business history,” wrote Gandel. Of those cutbacks, Welch famously said that he “never put himself out there as an employment agency.”
Jack and wife, Suzy, have resigned their slots at Fortune and Reuters, believing they can get more “traction” at Murdoch’s property. After today’s piece, they got that right.
The big problem with Welch’s off-the-wall complaint about the BLS: Why was that same measurement treated as a gold standard by conservatives when they showed a rising unemployment rate?
Another question: Why are Obama critics so dead set on denying him any glimmer of hope for the economy? Aren't we suppose to be cheering for America's comeback?