Good for Jobs Council, Good for U.S.?

Good for Jobs Council, Good for U.S.?

Some of the powerful executives who advised President Obama on Monday about how to solve the unemployment problem in the United States are themselves focused overseas for growth.

Five of the biggest companies on Obama’s jobs council, General Electric, Citigroup, Intel, Procter & Gamble and DuPont, rely on foreign revenues for a majority of their sales — a shift that’s occurred just in the past several years for most of these firms. As other countries’ economies recover more quickly, these corporations have taken advantage. Earnings at GE were up 77 percent in the latest quarter. Intel is enjoying record profits.

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