GE chief executive Jeffrey Immelt will lead the President's Council on Jobs and Competitiveness, which is replacing the Economic Recovery Advisory Board that Obama created two years ago to help guide
the administration's response to the recession. President Obama said his goal of doubling U.S. exports in five years is "on track," adding: "We're already up 18 percent, and we're just going to keep
GE has lost more than half of its value since Immelt took over. Most of that decline came during the recent financial crisis as the company's finance arm, GE Capital, suffered
huge losses on loans and required financial aid from the government.
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