REMINDER: GE NOT NECESSARILY A HOTBED OF CAN-DO ENTREPRENEURSHIP

Caroline Baum sounds skeptical of the Immelt appointment, as well:

Obama could have elevated Richard Trumka, president of the AFL-CIO, from his economic advisory committee to the top spot instead of Immelt, who has regular business before the administration and received a $16.1 billion Federal Reserve bailout in 2008. But why create the appearance of conflict of interest?

Ouch. . . .