jim: for those of you expecting to see "60 minutes," you're watching the nfl on cbs. the jets and patriots, jim nantz, phil simms here. 27-21 game. the jets getting into it just a moment ago. "60 minutes" will be seen in its entirety just after game except on the west coast, it will be seen at its regularly scheduled time. ridley from the goal line. hesitated for a second. the jets are waiting for him, 22-yard runback. phil: let's go back and look at that touchdown. santonio holmes, here he is. kyle arrington is covering him. and then watch the safety. as the play unfolds, watch santonio holmes as he avoids the first offender, then as he goes down the field, that little move, you can see his head go to the inside, sanchez

anticipates the throw for the touchdown. and of course nick mangold, what a difference having him in the line. puts that big left hand out there, says, i got that side, let me go to the right and help them out. the leader on the offensive line is back, it has been a big difference for the jets up front. jim: green-ellis past the first hit and takes it to the 30. eight yards on first down. phil: mark sanchez giving a little love out there. if you get a touchdown. of course, go to the big guys first because they're the ones who make it happen. we found that out last week. in the nfl, if your line, if it's not performing, then your football team, your quarterback receivers, running backs, they all suffer. nick mangold, what a day for him. jim: comeback from that high ankle sprain. brady trying to get it on

second and 2. and they've got a spot for enough for the first. phil: they love that quarterback sneak. they read the front. tom brady reads the defensive front in certain situations, he tapped the center and just goes forward fast. look, nobody over brian waters. that was the key. so they're going to give you that big gap, why turn around, hand it off and delay the process? jim: great run for green-ellis. it was a while before there was anyone within five yards of him. picks up 15. phil: the jets said, we'll let him run. it's too late. you can't do that anymore. look at the blocking up front, logan mankins, again rob gronkowski had rushed him to the outside, pushed him to the outside. and then green-ellis to the inside. jim: green-ellis has 100 yards on the nose, plus a couple of

touchdowns. and the patriots have a first down. with five minutes and change to go. he's gone eight, 157bd another six for three carries on this drive. by the way, next week, regional action on cbs. some good matchups. buffalo will travel down to the giants. many will see that. plus houston at baltimore, to large parts of the country. it all starts with "the nfl today" at noon eastern time presented by southwest airlines. phil: the jets just had a mass substitution. they have to get their run stoppers there in -- in there. that's mike devito and p.o.w. those are -- pouha. those are their plain gains. -- their main guys.

jim: no gain as it's just in fact those two guys you mentioned. pouha and devito on the tackle. phil: you could see what you're doing. this is what you want. third and 4. now, rex ryan always says, i hold a few defensive calls back. well, if you've held one back today, bring it out right now. and i'd want to call, they get to the quarterback, if you have a blitz you haven't used, use it right here. jim: ochocinco into the lineup for the patriots. phil: it's going to be a pressure defense, no doubt. and good time-out by the patriots. jim: that is their last jim: that is their last time-out.

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jim: green-ellis taking off. and cromartie didn't try to put an arm around him as green-ellis just kind of pushed him back for another couple. 14 yards gain. phil: they got him in man-to-man coverage. look at. it a quick snap. look at the blocking out flont. how about matt light? what a day. and that play is getting harder to diagnose if you're a defender because now they offstep the running back. he doesn't stand real close to tom brady. that's pretty close that time. but it seems like they run this almost every single week. it's a pressure call, in other words the coaches are saying, this play's going to work because of the situation. jim: green-ellis to get away from wilson. -- welker. wait until you see what's happened in denver. james brown has the update. james: tebow providing a spark. bill: he's going to take it 28 yards for the touchdown, making the score 26-24.

the two-point attempt failed. james: 3:19 left in regulation, jim. jim: all right, thank you, guys. no matter what the outcome here, you have to think that tim tebow era in denver is officially under way. they go into a bye next week. second down and 5 and green-ellis patient. phil: got to call time-out. jim: to the 24. picks up three. and there is the time-out. leaving the jets with two. so the broncos fail on the two-point try. the pass from tebow to lloyd. we'll keep you posted on that game. phil: this if that had been just a few more secksds had run off the clock, rex ryan should have just let it run on down to the two-minute warning but savegsing 13 seconds, it was -- saving 13 seconds, it was worth a time-out right here.

jim: the patriots schedule, dallas will be in here next week. then the bye. then at pittsburgh. we'll be there for that one. they host the giants and then at the jets. phil: wow. jim: look at that stretch. dallas, pittsburgh, giants, jets. don't see any give-mes in there. phil: i'm trying to find out where the give-mes are in the nfl right now. but that's a tough schedule for the patriots. jim: belichick and the patriots riding green-ellis heavily on this series. picked up 51 yards on this drive. phil: this is really, this is the game for the new york jets right here. almost no chance to come back. unless a turnover, if they don't stop this third down pickup by the patriots. jim: they need two. they got it with ease. gronkowski. down to the 15. down to the two-minute warning.

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jim: well, you know the new york jets with one time-out. can they somehow get the ball back? phil: only on a fumble. maybe if they get it back it will be with a few secretaries left in the game. -- seconds left in the game. jim: they have two time-outs. phil: i'm wrong. i thought one. so my fault. jim: green-ellis again. big chunks. phil: the backside, a tired defensive team. they get running toward the run, they can't stop, the cutback, it's wide open for a big gain. jim: green-ellis who has never fumbled in his nfl career. how about that? here's the lineup tonight on cbs. it begins with "60 minutes" and a fascinating story about drew

rosenhouse. some of his influences around the nfl. as an agent. "60 minutes." then a new "amazing race," "the good wife" and "csi: miami." phil: i saw one time-out but there was two. but that will keep you in the lineup, too. benjarvus green-ellis, if you don't fumble it. that's, look, around here in new england, jump offsides, fumble the ball do something wrong, you might be out of the lineup for fours weeks. jim: that's in over 400 career carries. fun to you know you're going to run the ball. jim: here it goes again. outside and pool brings him down. let's see the spot. looks like it might be inches short. phil: rex ryan going to wait until after this play, before he uses his last time-out.

jim: snap was a little shaky here. phil: i think you're right. i think tom brady had a hard -- oh, boy, stay in there. he gets out. a little too quick. dixon did a good job of flying underneath there, trying to disrupt it. jim: here you go. third and 1 and ellis is stopped. stopped by eric smith who comes up and now they'll take that time-out. phil: that was good use of the time-outs by rex ryan. from the outside. lead blocker, nobody there to block eric smith. jim: that is some hit by eric smith. again, they had just inches to go. i was kind of expecting that brady quarterback sneak which is almost automatic. phil: they had it covered that time.

jim: gostkowski comes out to try to make it a two-score differential. and again, as we noted earlier in this quarter, he's got the long fourth quarter streak going of 32 in a row, longest active in the league. it will be danny aiken snapping it back to mesko. to call it 27 yards. the kick is good. they had that football a long time. 6:12 on that possession. phil: well, tom brady kind of said to us on friday, of course not second guessing the coaches, i don't know why we're getting under center so much. i like the shotgun and i'll tell you why you're getting under the center. running the football. we saw it last week and today

the patriots' power running game is the reason why they won. i mean, matt light, boy, he had a terrific day blocking over there. jim: another 30-point performance by the patriots. but the main thing is that long, time-consuming drive nets a field goal and a two-possession swing. phil: you remember in the first half when they had that other drive, they just lined up and it was one snap after another where they got four and five yards. jim: jonathan kraft flanking his father there. his good friend george there. only cbs. sandy wow as they wait to see

these last 62 seconds play out. phil: if they hang on here, always a good win, to beat your rival. i thought the patriots running the football and the progression of their tight ends , gronkowski and hernandez, how they've improved since their first year. that was the difference. because the jets did a good job outside covering the receivers, but those tight ends, the matchups, even against defensive backs, the patriot tight ends won. jim: what did you make out of the jets here today? phil: i think there's a lot of positives, i do. i thought the offense showed a little signs of life. the biggest thing is, they got to now build on this. build confidence. they ran the football better. i think we saw who they want to become a little bit. jim: that's holmes with the catch. three catches here in the

quarter. four for the game. including a touchdown. phil: this offense is not going to put up dazzling numbers, throw for 350 yards, it's about managing the game, let their offense make the plays, defense make the plays. jim: what a hit. somehow he stayed up. that was kerley with the catch for 23. phil: no time-outs. i'd spike the ball right here. jim: there's your spike with 26 seconds to play. no time-outs left. i don't know how kerley didn't fall after this. that's ihedigbo, the former jet. and then arrington, i think arrington helped keep him upright. pretty good find here, jeremy kerley. phil: t.c.u. boy. jim: fifth round.

21 seconds to go. phil: i was going to say, if he completed that pass, i would come down, spike it, kick the field goal, try to onsidekick it. that's what i would have done. but all for astronaut because plaxico burress drops it. -- but all for naught because plaxico burress dropped it. does that sound right to you? jim: i agree with that strategy. that would have been a 53-yarder. phil: at least it gives you a chance. jim: and at last they get to sanchez. mark anderson. that will end it. phil: mark anderson, seems like every week he has a big sack late. jim: not another snap. patriots tie the team record with 19 straight home regular

season wins. to improve to 4-1. the jets fall to 2-3. for phil simms and all the crew, jim nantz saying so long from gillette stadium. let's go to james brown in new york. james: all right, bill belichick, rex ryan now, 3-3 in their head to head matchups. we will now take you out to the san diego at denver contest. san diego nursing a two-point lead with 28 seconds left in regulation. let's join the announcers out let's join the announcers out there. marv: we'd like to well welcome those of you watching the jets and the patriots. a good one here in denver.

a 36-yard attempt now by nick novak of the chargers with just 28 seconds to play in the fourth quarter. san diego with a 26-24 lead. novak has been perfect for the season. 10-10. and continues his perfection. we're now down to 24 seconds remaining. and the last gasp choice for denver. sunday night begins with sports super agent on "60 minutes." then "amazing race," "the good wife" and "csi: miami." the story for the bronows today. tim tebow coming on. not that his numbers are extraordinary but he has sparked his broncos back into

the game and now they need a dramatic finish. rich: you hate to be this early in the season, have a quarterback controversy, but it seems like that's been the story from week one and tim tebow came in, wasn't great through the year, but he made some plays and i think he gave this offense and this team a spark. and that's really what you're going to get with tim tebow. it's not always going to look pretty or be exactly how you drew it up but he has to go in there and create something that tim tebow, something that kyle orton was not able to do in the first half. and i -- we talked about friday practice. i just didn't think they looked good in practice on friday. wasn't a sharp practice, threw too many balls on the ground. i can't say i'm surprised that they made had a change in quarterback here today. marv: it has been touchback city and once again, they'll bring it out to the 20. cosby has not been able to make a kickoff return. so they will start at the 20.

24 seconds remaining in the fourth quarter. rich: and no time-outs. we'll see if tim tebow has any magic left in him. you got to be able to complete the ball on the boundary, incompletion does not hurt you. but it takes something special here, a lateral or something unique. marv: tebow to throw. oh, what a catch. the question is, was he in or out of bounds? brandon lloyd out of bounds. incomplete. rich: what a great effort by lloyd. a one-handed grab. wow, i think he catches that. i think he brings it in with the other hand. marv: at this point they are reviewing upstairs. and a final two minutes of the

half or -- rich: watch that knee. i don't i had his left knee was inbounds. what a great effort. referee: the previous play is under review. rich: by lloyd. marv: a heck of a throw by tim tebow. he's going to go up with his right hand. really stretch and whether he pulls it in, now he has possession. that left leg comes down, i that left leg comes down, i think that's a catch. marv: of course the san diego players waving it off. then i look at it, see a sign of incompletion but they can review it upstairs. rich: what a tremendous effort by lloyd. that's like a catch, i can't see whether he's still -- this is probably the better angle. watch to see if he's still -- when he comes down, forget looking at the leg. watch when he hits the ground,

does he still possess that ball? i think he's got it. it doesn't even move out of his hands. a lot of times you'll see those officials, they're looking at each other as they come towards the play to get confirmation. i think he makes that catch. you can see -- marv: eight seconds elapse on the play. 16 seconds remaining. rich: look at the reaction from chargers players over there. all saying, no, he didn't catch it. what else are they going to say? regardless, though, even if they give him the catch, something special has to happen here. and we saw at practice on friday, they work on that last play with all the laterals and the flips and the tosses. marv: i thought one of the chargers would say, nice catch.

and help him up. good effort. rich: let's see if they give it to him. i thought that was a catch. referee: after review, the runner did maintain possession. it is a catch. he lands inbounds at the 40-yard line, it will be denver ball, first and 10 at the 40-yard line. the ball will be placed on the hash mark near san diego's bench with a game clock prater, please set the game clock to 19 seconds, 19 seconds on the game clock, please. marv: it is a 20-yard advance, first and 10 at the 40-yard line. denver without any time-outs. trailing 29-24. rich: look how deep the secondary is. they're going to try to funnel everything back inside and not let them use the boundary. you'll see these corners force

the receivers back inside. marv: they have tebow from the shotgun. rich: three-man rush. better do something. the pass is caught. marv: caught at the 29-yard line. daniel fells, they have to spike it. time running down. one second remaining. rich: you know what's amazing? tim tebow got his hands on the center, watkins, it seemed like it took forever to get the ball. could have saved themselves, regardless they were only going to get one more play. now you've got a chance to put one into the end zone. don't know why, it took a while to get the clock. he has to make sure everybody's

set. marv: one second left. the chargers call for time. rich: that's a good decision by them to talk about it. you see him there and the -- this is the defensive coordinator. he wants to make sure they're talking about all the different scenarios and what has to happen. talk to those safeties, talk to the corners. this is situational football. these are the plays that you work on on friday afternoons. last play of the game. he's saying, rush forward. you don't want to give tebow extra time to run around. i'm pretty sure that's what he was saying. we're going to rush four and not three. give tebow too much time back there in the pocket. four-man rush.

marv: one second left. tebow -- rich: got to throw it up. waste of time. gout to throw it. you can't take a sack. marv: now throw, end zone, it is -- incomplete. rich: he made it interesting, didn't he? marv: that was intended for matthew willis and the game is over. what a finish. rich: boy, he's a fun guy to watch. you look at the last play, tebow can make some plays, hard guy to sack, defensive linemen just absolutely exhausted. he's moving to his right, to his left, finally comes back to his right and at least gives him a chance in the back of the end zone.

incredible finish. marv: nearly made the catch. san diego now 4-1 after their -- -- 4-1, off to their best start since 2006. they've won three in a row. the broncos drop to 1-4. their worst start since opening the 1999 season, at 1-4, both teams have their byes coming up. so, four straight wins, 9-11 for san diego over denver. a good one here in the mountain high city. chargers won it 29-24. tonight on cbs, "60 minutes" followed by "the amazing race," "ed got -- the good wife" and "csi: miami." tricity, which lets me surf the web all day. guinea pig: row...row. took me 6 months to train each one, 8 months to get the

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captioning funded by cbs and ford-- built for the road ahead. >> the mood is dark. people are pissed. why not try to do better? >> stahl: jeff immelt is the c.e.o. of general electric and one of the country's most important business leaders. now, he may have an even more important title: job czar. the republican was recruited by president obama to help generate ideas about creating jobs. >> just look at how many hours a day do republicans spend on job creation, to democrats spend on job creation, does the white house? it's nowhere close to 100%. we're not spending enough time on jobs. >> simon: it became known as the "facebook revolution." eight months ago, they forced

egypt's dictator out of power. last month, we went back to cairo to see how much it changed. we found that the military is still strongly in control, that it has reimposed a state of emergency, and protestors are being arrested, beaten and tortured-- sometimes, just for singing a song. >> pelley: there's almost a thousand agents representing nfl players, but no one represents more of them than drew rosenhaus. >> way to go, stud. hell of a job today. really proud of you. >> pelley: and as you'll see.... >> what you're offering me is a joke. >> pelley: ...he's feared, revered, and as cocky as anyone who suits up on sunday. >> i really believe that the nfl would fall apart without me. >> i'm steve kroft. >> i'm lesley stahl. >> i'm bob simon.

>> i'm morley safer. >> i'm byron pitts. >> i'm scott pelley. those stories tonight on "60 minutes." i can't enjoy my own barbecue with these nasal allergies. i know what works differently than many other allergy medications. omnaris. omnaris, to the nose! did you know nasal symptoms like congestion can be caused by allergic inflammation? omnaris relieves your symptoms by fighting inflammation.

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it's good for your business. ♪ and even better for your customers. ♪ for safe and secure ways to stay connected, visit usps.com/mail >> stahl: not since the great depression has unemployment been this bad for this long. and one of the reasons is that u.s. companies have gone abroad for their workers and their profits. over the last decade, big american firms have cut around three million jobs in the u.s., while adding almost as many overseas.

no company has gone global more aggressively than general electric, the conglomerate that makes everything from refrigerators to m.r.i. machines to jet engines. this past week, president obama has been out around the country talking about creating jobs. to help him get americans back to work, he's recruited a most unlikely jobs czar: the republican c.e.o. of general electric, jeff immelt. >> jeff immelt: the mood is dark. people are pissed. why not try to do better? >> stahl: jeff immelt talked about his czarship at a recent gathering of g.e. managers. >> immelt: you know, i grew up in cincinnati, ohio, and my parents are really right- wingers. my dad watches, like, five or six hours of fox news every day and stuff like that. so i called home and said, "hey, just to give you a heads-up," you know, "i'm going to be with the president and he's asked me to lead this jobs council."

and my mother said, "well, you said no, of course, didn't you?" ( laughter ) i said, "no, mom, that's not what i said." thank you. >> stahl: when you were chosen, there was a lot of criticism. i saw a headline that said "the job czar from hell" because of how many jobs g.e. has outside the u.s. >> immelt: 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. >> stahl: what he's doing is heading a council of c.e.o.s, wall streeters, and labor leaders to help the president come up with ideas for immediate and long-term job growth. we need to create 300,000 new jobs a month just to get back to where we were before the recession. >> immelt: i think, lesley, there needs to be a sense of national urgency around jobs that, basically, if you just looked at how many hours a day do republicans spend on job creation, do democrats spend on job creation, and does the white house, it's nowhere close to 100%.

we're not spending enough time on jobs. >> stahl: one of the reasons the president chose immelt as his jobs czar is because he's actually building new manufacturing plants in the u.s. he wanted to show us one-- this new factory in batesville, mississippi, where they're making jet engines for the new boeing dream liner. does anybody know how many different parts go into that? >> immelt: somebody does. i'm not sure, if it's... it's not me! >> stahl: not you! >> immelt: in this engine, we probably have invested a billion and a half dollars as a company before getting the first... the first sale. >> stahl: all told, he is adding 15,000 jobs in the u.s., about half in manufacturing. >> immelt: we've got whole new generations of jet engines, whole new generations of gas turbines. we're spending a lot inside the u.s. >> stahl: in louisville, kentucky, where g.e.'s appliance park has lost about 16,000 workers, he's actually bringing jobs back from china and mexico, where wages are going up.

>> immelt: you know, with the currency weaker, with wage-rates inflation lower here than the rest of the world, we think the u.s. can be quite competitive. >> stahl: what struck me is that the new plants don't hire a lot of people. you talk about hundreds instead of thousands. and i wonder, as you bring in new factories-- they are so automated. >> immelt: you're going to have fewer people that do any task. in the end, it makes the system more productive and more competitive. but when you walk through mississippi, for every person that was in that plant, there's probably seven or eight in the supply chain. >> stahl: a lot of the jobs we saw were $13-an-hour jobs. that's really not the ticket, is it, to a really vibrant middle class? >> immelt: we have a range. when we go out and recruit, let's say, hire 1,000 people at between $15 and $17 an hour, we get 50,000 applicants. so i think you've got to start somewhere and... but we want to hire more people. >> stahl: but here's the problem

when it comes to creating jobs-- the inflow is a trickle. the main event is still overseas, in places like brazil-- once known for sun, samba and soccer, now one of the world's fastest-growing economies. brazil is buying more g.e. products than almost any other country. it's no wonder they have a g.e. company town 90 minutes from rio. you hear ge and you think "schenectady, new york"; "lynn, massachusetts." "petropolis, brazil"? >> immelt: it's the world we live in today, lesley. this is where we have to be today to be successful. >> stahl: and they are wildly successful in brazil, where g.e. is growing at a rate of 35% a year compared to 1% in the u.s. immelt showed us around a g.e. locomotive plant. >> immelt: if you go back five, ten, 15 years, maybe we made 30 or 40 locomotives here. you know, lesley, we're now making 150.

>> stahl: that's the horn? >> immelt: so just push. i need one of these in my office. >> stahl: g.e. has become so global that more than half of its 300,000 workers are now overseas. we spoke to him on the floor of g.e.'s jet engine servicing plant in petropolis. how much of your revenues, now, come from overseas? >> immelt: 60%. >> stahl: 60% of g.e.'s revenues is foreign. >> immelt: when i became c.e.o., it was 30%. now, i wish all our customers were in chicago. i mean, everything about the u.s. is easier than doing business here, but this is where the growth is. >> stahl: you know, it's like a bucket of ice on your head. i don't think we have caught up to the reality of how much the world is consuming and... and how we're slipping back. >> immelt: you know, i... i don't think it has to be all bad news. i still think there's lots of things we can do in the u.s. but the customers are here,

and... and that's just the way it is. >> stahl: g.e. has 8,000 employees in brazil and rising. at factory rallies here, immelt, as cheerleader, looks out at the future of the company. >> immelt: i want you to get up every day and want to beat caterpillar. i want you to hate the color yellow and do everything you can to make sure we're winning and beating the competition. >> stahl: on top of expanding the locomotive operation here, immelt is building a new aviation plant and a new research and development center in rio. you have also made the case that by increasing investment in a place like brazil, it would allow you to bring more jobs back home. now, that's counterintuitive. >> immelt: look around this room. all of these components come from the u.s. how are you doing? >> stahl: but after following him around brazil, i wondered whether g.e. was still an american company. >> immelt: i'm a complete globalist. i think like a global c.e.o., but i'm an american.

i run an american company. but in order for g.e. to be successful in the coming years, i've got to sell my products in every corner of the world. >> stahl: i mean, you may personally think of yourself as an american. but your customers are over there. you put your plants over there. you even put research... >> immelt: if i wasn't out chasing orders in every corner of the world, we'd have tens of thousands fewer employees in pennsylvania, ohio, massachusetts, texas. i'm never going to apologize for that-- ever, ever. >> president barak obama: i love coming to these plants. >> immelt: it's great. >> obama: because we actually see stuff getting made. >> immelt: 90% exported from here. >> obama: that's exactly right! >> stahl: immelt worked with the president to devise his $447 billion jobs package. and now this week, he and his jobs council that's been holding meetings all around the country will give mr. obama more proposals, such as reducing government regulations and spending more to retrain workers.

if the republicans say the government shouldn't spend, how the heck are we going to get ourselves out of this? >> immelt: no, no, this notion that the government has no role has never been true in the history of the united states. you know, really, all of the commercial aviation industry has grown out of defense spending. all of the health care innovation has grown out of the n.i.h. >> stahl: in his ten years as c.e.o., immelt has remade g.e., selling off half the company he inherited, including plastics, insurance, and nbc. >> oh, my god. >> they're selling nbc to a company called kabletown, with a "k". >> stahl: at the same time, he has refocused the company on manufacturing, bulking up units like transportation, energy, and research and development. as jobs czar, he's urging his fellow c.e.o.s to double their hiring of engineers and devote more money to r&d. at g.e., he's tripled spending

on everything from medical research to green technology, including the building of a solar panel factory in the u.s., even as other american solar companies are folding. is this something that's incredibly risky for you? >> immelt: in g.e., this is extremely low-risk because we have good technology and we have scale. the crime for us is when we don't do things like that. we ought to be percolating 20 $1 billion businesses all the time that can grow inside our system. >> stahl: but even while he promotes american innovation, he's been accused of transferring technology to other countries, as in his recent joint venture with china, where a new g.e. computer system will go into a chinese airliner that could eventually compete with boeing. >> immelt: it's a way we can grow, and... and it's approved by the u.s. government. it's in an important market around the world, and it creates 400 jobs in the u.s. >> stahl: let me be more specific-- are we, in any way,

giving the chinese a technology that they didn't have before, that depletes our competitive edge in the future? >> immelt: we give nothing; we own it. no, look-- you're afraid of china. i'm not. we see them as a big market and a big opportunity. >> stahl: one thing immelt is promoting that the president did not include in his jobs package is lowering the corporate tax rate from the current 35%, even though companies like g.e. rarely pay that much. one of the things that g.e. and you get hammered for is how little taxes g.e. pays. it's not quite zero, but it's pretty low. >> immelt: you know, we've had an extraordinary couple of years. we wrote off $32 billion during the financial crisis. i think we should have basically the same tax policy that germany, japan, the u.k., everybody else has, which is a tax rate in the mid-20s and no loopholes, zero. the u.s. has the most antiquated tax system.

and that means some people are going to pay more taxes and some people are going to pay less. >> stahl: but i guess the big question for most people is, would that create jobs? >> immelt: that's a fair debate. you know, personally, i think it's going to create jobs. >> stahl: but our companies are not spending. they're not investing in a way that would create jobs. and big corporations are sitting on billions and billions of dollars. they're just sitting on it. >> immelt: companies should invest in the united states. it's still the world's biggest economy. and if companies just are going to sit on cash, they're going to lose. they're going to lose. because only the people that are going to invest their way through this crisis are going to win. >> stahl: immelt is also supporting a tax holiday for global companies to get them to bring back home more than a trillion dollars in profits they're keeping overseas. he says businesses would start hiring, even though they didn't when a tax holiday was tried in 2004. >> immelt: when it happened last time, it didn't. >> stahl: right. >> immelt: so there's plenty of evidence that says that i'm not right about that.

in other words, do i know how many jobs it's going to create? i don't. but it can't intellectually be any good to anybody to have $1.2 trillion outside the u.s. >> stahl: shouldn't american corporations... don't they have some kind of civic responsibility to create jobs? no? >> immelt: my name is not above the door. i work for investors. investors want to see us grow earnings and cash flow. they want to see us be competitive. they want to see us prosper. >> stahl: he wishes the public felt the same. >> immelt: i want you to root for me. you know, everybody in germany roots for siemens. everybody in japan roots for toshiba. everybody in china roots for china south rail. i want you to say, "win, g.e." >> stahl: do you not see any reason that maybe the public doesn't hold american corporations up here in the highest...? >> immelt: i think this notion that it's the population of the u.s. against the big companies is just wrong. it's just wrong-minded, and when

i walk through a factory with you or anybody, you know, our employees basically like us. >> stahl: they do. i saw it. >> immelt: they root for us, they want us to win. i don't know why you don't. >> cbs money watch update sponsored by:. >> good evening, apple rival samsung says it is delaying tuesday's launch of its nexus prime smart phone out of respect for the late steve jobs. gas has dropped 26 cents in a month to an average of $3.40 a gallon and the boxing robots movie "real steel" took the title at the weekend box office. i'm russ mitchell, cbs news. ♪

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>> simon: when the people of egypt rose up in january and threw out the dictator who had ruled them for 30 years, it was called a "facebook revolution."

we went back to cairo last month to see what was going on eight months after this revolution. how many of the people's dreams were being fulfilled? what we found was that, even though mubarak was on trial-- something egyptians thought they'd never see-- the military, now in control, had reinstated the dreaded emergency laws. it was arresting activists by the thousands, outlawing strikes, clamping down on journalists. and that's not all. we found that people opposing the current regime were being tortured, just as they'd been under mubarak. eight months ago, this might have been the happiest place in the world, a traffic circle named tahrir square, where people overthrew a dictator in 18 days. well, the people are back again, but the happiness is gone. that's because many feel that the revolution has been taken away from them, that the army

which supported them during those heady days is now saying, "go ahead, demonstrate if you want to. but we are in control, as we always were." for three decades, mubarak's generals kept him in power. but when protesters took over tahrir square, the soldiers stood by and let it happen. to give you a sense of what role the military played back then, and since, we'll tell you the story of one man, a student named ramy essam. he came to the square with his guitar, started strumming, like a young bob dylan. ( singing in arabic ) >> simon: before long, he was onstage, singing a song he'd made up on the spot, "down, down, hosni mubarak." >> ( singing in arabic ) >> simon: that had never been sung before.