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Obama Selects 'Worst CEO of 2008' to Economic Advisory Panel, Says the Free Enterprise Action Fund (Ticker: FEAOX); How Does Running GE into the Ground Qualify CEO Jeff Immelt to Help Steer Nation in Time of Crisis, Mutual Fund Asks
February 10, 2009President Obama's selection of GE CEO Jeff Immelt as a member of his economic advisory panel raises questions about the panel's financial acumen, competence, and patriotism. "Immelt's selection can't be based on his performance as CEO or loyalty to our country," said Tom Borelli of Action Fund Management (AFM), the investment adviser to the Free Enterprise Action Fund (Ticker: FEAOX), a publicly-traded mutual fund. Immelt was ranked as one of the Five Worst Non-Financial-Crisis-Related CEOs of 2008, by the FEAOX in December 2008. Full release