The Working Families Party and Occupy Wall Street crowd is taking a field trip to New Canaan Saturday to demonstrate outside the home of GE CEO Jeffrey Immelt.
GE is headquartered in Connecticut, but in a recent “60 Minutes” interview Immelt told CBS correspondent Lesley Stahl that 60 percent of its revenue comes from overseas.
“It’s time that corporate titans like Jeff Immelt knew how tough it is for those of us without multi-million dollar bonuses,” Jon Green, executive director of Connecticut Working Families, said. “Jeff Immelt needs to understand how eliminating thousands of jobs and not paying taxes is hurting ordinary Americans.”
President Barack Obama appointed Immelt to head his Council on Jobs and Competitiveness.
“I’ve taken heat from the right and heat from the left. And it’s been uncomfortable sometimes for me personally to be, to work with the president on this. And I’m proud to do it,” Immelt told Stahl in the interview that aired earlier this month.
The Working Families Party, which has been holding demonstrations across the state to highlight corporate welfare, will be at Immelt’s home around 12:30 p.m. Saturday.
The group says that despite global profits over $14 billion, GE paid nothing in federal income taxes and has eliminated 19,000 American jobs since 2008. During that same time they say Immelt’s pay has grown. According to Forbes, Immelt’s salary in 2011 was $9.62 million.
“Immelt must not understand what life is like for the rest of us—or he’d be helping to create, not eliminate jobs,“ the group said in a press release. “We’ll be there to share the stories of what it’s like for those of us without multi-million dollar incomes.”