Investor’s Business Daily questions the advice the President might be receiving on job growth. His advisory council isn’t known for “growing jobs.”
President Obama says he’s 100% focused these days on creating jobs. So why is he taking advice from a bunch of CEOs whose companies have been shedding jobs for years?
• AmEx employed 28% fewer workers in 2010 than it did a decade ago.
• Kodak’s workforce cratered to just 18,800 last year from 75,000 in 2001.
• Xerox’s employee base shrank by nearly a third between 2001 and 2009, before it acquired Affiliated Computer Services and its 74,000 workers in 2010.
• Even Intel has trimmed the number of workers it employs over the past decade.
Just one business represented on the board — Facebook — is a genuine growth company. And the council is all but devoid of the kind of small- and midsize firms responsible for two-thirds of the nation’s new jobs.