General Electric Co. (GE) Chief Executive Officer Jeffrey Immelt says he’s returning refrigerator-production work to the U.S. from Mexico to boost profitability in appliances. Investors say a bigger reason may be his leadership of President Barack Obama’s jobs panel.
Immelt was in Louisville, Kentucky, yesterday to say that he’s bringing back 600 jobs under an $800 million investment in its manufacturing complex there. Welcomed by local officials, the new positions add to GE’s existing Louisville workforce of about 4,000.
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