jack never came out and said a word publicly about the way jeff immelt acted, even when immelt started cozying up to obama being on the economic councils which i'm sure jack did not like. i know he did not like. >> but he largely kept that to himself. >> he kept that to himself because there's subtle ways you're supposed to comport yourself in that position. jeff immelt is the ceo, the board if they really have a problem will get rid of him. it's the same thing with trump. trump is the ceo of the country. if he is lousy at the job, which he might very well be, then people are going to vote him out. >> you know, kennedy, i can see former president realizing that his entire legacy could be sort of derailed. >> yeah. >> isn't going to like that and isn't going to stay entirely quiet while that's happening. >> look what he's done during the campaign? he's made the entire thing about him. it wasn't really an outreach to voters. >> until the loss. >> yeah. >> good point. >> convincing them how important hillary clinton was, it's more about my legacy is so important to me therefore it's got t

steve liesman at hq. >>> jeff immelt has been a huge proponent of tpp and free tad.ith donald trump headed to the white house, what is ge's strategy going forward? here in san francisco is the chairman and ceo of general electric, jeff immelt. >> hey, carl. >> always good to have you. >> good to see you. >> thanks for having us. we want to talk about the amazing things going on behind us today. what a week. you got this election. you got this market response. people want to write this script, investors warming to a pro growth playbook where we've gone from deflation scare to inflation story. >> after brexit and a number of things around the world, nothing should surprise people anymore. the election broke definitely the way most people thought. we shouldn't be surprised. you have a president in place that's talking growth that looks like he's willing to invest back in the economy in a number of different ways. you see bond prices going up and investor enthusiasm, maybe a little bit of relief for the banks, which i think is a good thing. so, look, we've been in such a

first, highlights from yesterday's exclusive with ge's jeff immelt.e on tax reform and finance, next. >> i'm sure my friends like jamie dimon say you guys have earned this, but it doesn't make me go, holy [ bleep ] why did we get out of ge capital? important than your health. or the freedom to choose what doctor you want to see. so if you have medicare parts a and b, consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, these let you choose any doctor who accepts medicare patients. you're not stuck in a network, because there aren't any. plus, these plans help cover some of the part b medical expenses medicare doesn't pay. so why wait? call now to request your free decision guide and find the aarp medicare supplement plan that works for you. like all medicare supplement plans, you'll be able to stay with the doctor or specialist you trust, or look for someone new - as long as they accept medicare patients. but unlike other plans, these are the only

so a lot to get to with jeff immelt.dia and an update on al stem and ge, baker hughes, all of that coming up soon. >> carl, of course we want to hear his thoughts about a trump presidency. i'm interested in so many of the different issues. but you bring up an interest of mine, which is certainly the growth in artificial intelligence. people may wonder, how does a jet engine figure into that. but as i'm sure as you know and will tell us more, the chips that are implanted in these jet engines that are sending off data constantly, this is the internet of things, isn't it, that we talk so often about? >> i'm just looking at two deals they did today, terms were not disclosed. but one is a data intelligence company. the other is a leading machine learning and intelligence systems company. i mean this is no longer pie in the sky. i remember when we would talk about it with jim and it sort of felt like it was, but no longer. we're seeing real concrete applications in the enterprise, things we talk about on "squawk alley" a lot o

. >> reporter: ceo jeff immelt believes the internet is going to be a $200 billion market.s the reason the industrial giant is hosting the machines conference in san francisco this week, bringing customers and software developers together under one roof. it's also the reason immelt says every new hire will learn to code and why the company announced three tech acquisitions since monday alone. analysts say ge is on the forefront of the trend but is no means alone. >> i would call out honeywell in figuring out how to enhance their equipment with software-based solutions. they're another one that employs a great base of software engineers within their company. you know, united technologies is out there doing some interesting things with their new gear for example. >> reporter: rockwell and roper investing in products and services, as well. and just yesterday, germany's siemens announced a deal to require mentor graphics which makes software for computer chips. the growth prospects are alluring. especially since sluggish global growth, a strong dollar and weak commodity prices

so anyone who is like a very rational cool businessman like immelt has to be thinking about this. i've asked him about china, and that's something i would be more concerned about. remember boeing's two big orders were from china and iran. trump's not out there making phone calls to iran and china. >> right. >> how's the putin call? >> i mean, our manufacturing output has doubled in the last three decades. we're making more stuff now than we ever have. >> but we also -- >> and there are going to be a lot more robots making them than people. >> but when you build a plant, a car plant, like a bmw plant in the state of mexico, there's a lot of businesses that get started around that plant. and when you go across america and you see all these shuddered doors of retail, a lot of that is because the bigger plant left. >> right. >> that's for real, david. that's for real. and then you read about all the things that go wrong in a town once that big plant has left. >> sure. and we'll see if these tax cuts lead to more plants or lead to more div hikes and buybacks. >> well, i know that's alw

don't miss cnbc's exclusive interview with jeffrey immelt at 11:00 a.m. eastern.e'll be right back. guests connected at work, and at play. or the it platform that powers millions of ecards every day for one of the largest greeting card companies. businesses count on communication, and communication counts on centurylink. . >>> now to today's must read stories. let's start with "wall street journal's" editorial board writing a piece titled europe's trump panic. on sentence says please folks get a grip. the conclusion is europeans like to lecture americans about their political choice and even as americans always seem to be coming to europe's rescue before panicking about mr. trump perhaps europe's leaders should meet him and i do agree with the general theme in this particularly it's echoing sentiment from the foreign secretary of the uk over the weekend where he said to eu leaders we must stop this. i agree with that main point. but in terms of questioning what the result was itself. in terms of the policy implications there are reasons for certain countries to be

. >>> ge's ceo, jeff immelt weighed in on trumpenomics. he welcomed the rise in interest rates. >> i think it's so bizarre to have 0% interest rates for so long. think about thinks like state pensions. 15 billion euros trading with negative interest rates. that's warped. i think the notion of getting a yield curve back, getting a little bit of growth back, getting productivity back in the system so you can off-set inflation and things like that. >> ray delio said trump's election will bring a new era of rising bond yields and the treat of globalization. the founder of bridgewater says he expects the global bond rout to continue. car caroline is at the ubs conference in london. we were talking to our guest about how high these bond yields possibly can continue to be pushed before we see reversal. >> what were they saying? >> the view is that we have to differentiate between short trade and lgtd trade. but some say the level in the 30-year-old is topy enough. >> we talked about the sell o off treasuries but not about the u.s. credit market.

example one of the companies we've spent a lot of time my friend carl quintanilla interviewed jeff immelt general electric said they're a digitized industrial company. some of us find that hard to understand. not to believe. because they've done it. but to understand. where does talend play in the ge world? optize all of their industrial equipment. they don't sell just big pieces anymore. they sell brilliant equipment. for example, in their turbine business, big power turbines, what they can now do is take all the data from those bur tur bins, sensors that measure how fast they're spinning and temperature and vibration and heat and all those things take all the data off of that and they look to -- for patterns to say how can i optimize the sets and make that 1 or 2% more the other thing they cap do is start to -- can do is start to predict. >> the predict system that jeff has talked about. >> called it predict. predict are there parts that are starting to wear out because if they can change those parts in a maintenance interval it's not a big deal. if your power plant goes down by surpris

. >>> coming up on "squawk alley" a cnbc exclusive interview with ge ceo jeff immelt.ll be right back. ♪ for decades, investors have used a 60/40 stock and bond model, with little in alternatives. yet alternatives can tap opportunities that traditional assets can't. and even though they're called alternatives, they're actually designed to help meet very traditional goals. that's why invesco believes people should look past conventional models and make alternatives a core part of their portfolios. translation? goodbye 60/40, hello 50/30/20. the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident in our investment experience around the world. call us or your advisor... t. rowe price. invest with confidence. >>> take a check on the yield of the two-year note, 1.025% and touching ten-month highs this morning. >> our guest host this morning, bill miller iii and bill miller iv of lmn investments. was the first bill miller, was the second one a junior? >> it was. >> and the next one is not the s

but if you hear from people like jeff immelt and mark fields, these guys are winning big global companiesperate all over the globe. they would like to add more growth in the u.s. but also optimize the manufacturing plan for the global world. they have no choice. to be in china, they have to manufacture in china. they're going to do some things to stay out of trump's cross hairs, throwing a bone and not taking the one lincoln suv to mexico, which makes sense to stay in kentucky. i think you will see ceos continuing to work with him, in any way they can, to get growth going in the u.s., but the big question here is jobs, brian. we don't have the skilled workforce to do today and tomorrow's jobs. there is 5.4 million unfilled jobs. that number could go to 10 million and we got to get going on job training, that's the number one thing to upgrade. i'm not sure we want to compete with $2 an hour jobs. >> i think that -- i'll take you through one of the first things you said, throwing a bone to him now, i actually in my experience found a lot of ceos were cautiously supporting donald trump dure,

i could see jeff immelt tweeting out general electric news.really on my radar screen, worrying about who is tweeting and who is not. i think trump, what is important is what he says. i understand. i think a lot of people feel the same. but do you not feel that you may miss out on key policy because he decided to put it on twitter instead of putting it through the normal channels? sleep: i do not lose any worrying about that. francine: in terms of policies -- and this goes back to how he is going to use twitter -- he will have to, i guess, rated in once he is in charge -- he will have to, i guess, reign it in once he is in charge? it does get a little tricky when you are actually dictating policy that could have market implications. tweetingimagine him after if the decision. that would be very disruptive. and i think he will actually moderate is tweeting. record turkey is 86 pounds, and you are trying to top that. marty schenker. and we will continue with howard. hubbard -- dean hubbard about america and trump economics. this is bloomberg. ♪ to

. >> i'm thinking of like immelt at ge who has written about this is not going to go away any time soonre locally, right? trying to localize some of their business units. is that what you see as a model? >> well, yeah, but ge is totally dependent on global growth. we've driven it on good cash and good earnings and a lot of financial engineering for the next four years to grow it we have to have global growth. that's what companies are going to have to do. i was with a company called rpm, most successive company no one oos ever heard of, grown at 20% for the last 20 years compounded. why? they give companies a global marketplace to go after. business cannot stand a pullback from globalization. but here's the key, we've got to have more empathy and we have to have plans to take care of all those workers that can't find work. so i think a massive retraining is going to be required of the american workforce. it's not just for today's jobs. our workforce could be obsolete by 2020. if we don't move quickly, it's not just going to be coal miners in west virginia out of work. we've got to move