good thing to do. jeffrey immelt took over the helm of ge, $24 a share, brought it $20 a share, nice job, but in the meantime closed down incandescent light bulb plants. they send him over to china to produce the florescent ones. now this x-ray unit, more jobs going overseas. not bad, because ge is in the business of making money. knock yourself out, do what you have to do, but don t make this the guy that s supposed to create jobs in america. it s horrendous. the reality is he doesn t work for america, he works for shareholders. so he should be able to do what he wants to do. but he does have an obligation to make money. if going to china, makes a lot of money for the shareholders, that s what he should be doing, but that means his heart lies with them and not with american jobs, and that s why he shouldn t be the job czar. he s looking to make money. by the way, he s moved his
the second highest corporate tax rate in the world. so it doesn t come back. that s the risk, when the president comes out and says corporations have to pay their fair share, ok, fine. what they do, corporations do, though, is they ll go somewhere elsewhere they feel as though the tax system is fairer and that s how they re going to keep their profits because they re in the business of making money. i ll give you the example of general electric. they just announced they re moving their x-ray division, very big division actually. moving it out of wisconsin, it s going to beijing. and they re going to hire, i think, it s 125 people in beijing. meanwhile, jeff imelt, the c.e.o. of g.e., he sits on the president s council for job creation and efficiency. > > incredible! what s going on here? you re on my council but taking jobs to china. especially with all the green industry jobs that general electric has gotten from this
the second highest corporate tax rate in the world. so it doesn t come back. that s the risk, when the president comes out and says corporations have to pay their fair share, ok, fine. what they do, corporations do, though, is they ll go somewhere elsewhere they feel as though the tax system is fairer and that s how they re going to keep their profits because they re in the business of making money. i ll give you the example of general electric. they just announced they re moving their x-ray division, very big division actually. moving it out of wisconsin, it s going to beijing. and they re going to hire, i think, it s 125 people in beijing. meanwhile, jeff imelt, the c.e.o. of g.e., he sits on the president s council for job creation and efficiency. > > incredible! what s going on here? you re on my council but taking jobs to china. especially with all the green industry jobs that general
party be in charge of paying out those claims. he says these guys are in the oil business. they re in the business of making money from oil. they re not in business of organizing and paying out claims from the damage. he d like to see someone else do that. what s this morning s romans numeral ? 11 cents. all this drama about bp. gasoline s gone up 11 cents? it s gone down 11 cents! in three weeks. at the pump you are noticing lower prices for gasoline. and that s mostly because demand is down right now because the economy lot of people are still out of work. but longer term when you look at the futures market for oil, there are some concerns that these restrictions on deep water drilling could mean higher oil prices down the road, years down the road, if there s bigger regulatory hurdles for offshore drilling. christine romans minding your business this morning. next up, it wasn t a win but it was the next best thing. the big game between the u.s. and england at the
well, who falls under that umbrella? and that exact definition of how much capital you have to have, who has to have that kind of capital, really is the sort of crux of the matter on capitol hill as i ve learned it, because many financial institutions are saying wait, we don t want to be under that kind of heavy regulatory umbrella, just the big guys, the big guys say we don t necessarily want to be under those capital requirements, too, that will limit our way of dealing with customers. what is this consumer protection agency going to do, what powers will it have, who will want it, and what do you do about a derivatives, a trillion dollars market, largely unregulated, how do you regulate without sending that derivatives market overseas and some have said on the republican party side, if you send it overseas, it will not be more transparent, it would just provide jobs for people in other countries. bill: others would argue that wall street is in the business of making money and they ll