nothing gets jack welch jacked up more something that says this white house made i >> well, you know,r stocks they're worried about the economy and skittish over hiring new workers and why they're hanging on to all of that cash. jack welch says he thinks he knows why and starts and ends with the white house. >> look, neil, the answer to this problem of jobs and which is the key to the whole economy recovery is growth. we've got to have growth and right now, we have habits changing because of the recession, people are getting their office cleaned twice a week, instead of five days a week. retail stores polishing the floors twice a week, not daily. all of these little things and we have technology coming in like crazy. and exponentially in the last three to five years, so that's productivity is off the charts. and unless we get real growth, we're not going to have it and we have a white house or an administration i should say, i shouldn't say white house, we have an administration that doesn't have pro growth policies. they have at least four elements that are the front burner of killin

isn't worth, we'll take the bite, pay the penalties and shift it to the government and enhances jack welch's argument, the people who are benefits experts and demand and hop, skip over to the government because they'll be needed there as well. >> neil, i was all set to disagree with the entire premise of everything we're talking about here until you brought up one of my favorite expressions of yours, crack pot theory because every time you have one of these crack pot theories, i think you're exactly right and the fact-- >> and recent that particular theory. go ahead. >> and what you're right about is that these companies are going to comply. the legislation is going to kick in. and the details here matter. jack tried to point out a moment ago, you don't want to let your former boss speak. what they're getting here are wavers for a year or two and the issue here is that the-- >> a year or two. a year or two. >> well, well, one for starters, but it may take two because that's when these exchanges kick in. they're part of the legislation where, if employers and employees will have a choice, eit

coming up on neil's show, jack welch says the president is no friend to america's job creators. >> his corporate balance sheet is tough on business. business should be celebrated for its growth and its jobs. >> and that's before he's really got mad. it's the full jack at the bottom of the hour and you do not want to miss it, but first, how some say wal-mart may have just made the best case to repeal the health care law. hey, lawrence, my parents want to talk to you. oh. about what? uh, they don't really think you're an exchange student. what? they think you're a businessman, using our house to meet new clients in china. for reals, player? [ woman saks chinese ] they overheard a phone call. speaks chinese ] something about shipping with fedex to shanghai. and then you opened a bottle of champagne. that was for a science project. [ man and woman speaking chinese ] i'm late for..occer... rehearsal. [ man speaks chinese ] you and i are cool? i'll be home by curfew. [ male announcer ] we understand.® you need a partner who can help you go global. fedex. . >> bret: to america's news headquar

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jack welch, the former ceo of general electric, is now an investor in what was in 2007 a $12 billion business with 26,000 employees. listen to him explain what that business will look like when it gets out of the recession. >> when we get back there, with the technological improvements and the changes in business, we'll have 14,000 employees. not 26. so you've got almost a 50% fewer employees to do the same amount of business. >> so that's the technology effect. the second force at work is globalization. america's great companies have all gone global. the 500 largest american economies now get 46% of their profits from abroad, and the biggest ones actually get up to 60/80% of their produfits from abroad. but average american worker cannot surf this world. he's stuck in america. so what is the answer to his or her plight? well, it's a huge subject and i can't give you a quick fix now, but i'm spending a lot of time thinking about this and writing about this. my first cover essay in "time" magazine is about just this question. it's out on the newsstands right now and next week we will

general electric when jack welch was there and see how one or twt people can both change the culture of the company and infuse it with their own set of values. r host: let's go to rabbit, independent color in georgia. hi, robert. ca caller: good morning. mr. rattner, i didn't get to read your book. but i do know that thing called obsole design on sorensen stand.sc i know as practiced in this country for years and it's really what probably got thisbay country to work because it got people to buy new things. they would break and have to go buy them again.people wo and i wasn't exactly for that. i think that was part of it. and i remember whenever bush put in the builder he gave funds for people to go out and buy suvs. now, i don't know what you thiny about that, but i know it wasn't a very smart idea. >> i don't remember the incentives to buy suvs, but certainly a degree with you, it not a very smart idea. onthink right now we've gone the other way to way of incentives to buy electric cars, which hopefully will turn out to be a good idea. but the jur ey is still out on that. i think it

jack welch at general electric. one person can in fuse a company with their own set of values. host: robert in georgia. caller: i did not get a chance to read your book but i do know some things such as design obsolescence. it probably got people to where we are at. things would break and then people would go out and buy it again. i was not for it, but that is part of it. i remember president bush gave incentives for people to buy what youdo not know think about that, but it is not a smart idea. guest: i do not remember that, but i agree, it is not a smart idea. on the other side, we now have the incentive to buy electric cars. in a perfect world, which was part of our philosophy in the rescue, you want the government out of it as much as possible. this is what we have a private sector, competition for. host: there was an allegation of a pay to play incident that had been written about by the news. "of the washington -- "the washington post" reports -- can you comment on that? guest: unfortunately, i cannot. i understand why you need to. my lawyers have been clear that while th

jack welch at general electric. one person can in fuse a company with their own set of values.bert in georgia. caller: i did not get a chance to read your book but i do know some things such as design obsolescence. it probably got people to where we are at. things would break and then people would go out and buy it again. i was not for it, but that is part of it. i remember president bush gave incentives for people to buy what youdo not know think about that, but it is not a smart idea. guest: i do not remember that, but i agree, it is not a smart idea. on the other side, we now have the incentive to buy electric cars. in a perfect world, which was part of our philosophy in the rescue, you want the government out of it as much as possible. this is what we have a private sector, competition for. host: there was an allegation of a pay to play incident that had been written about by the news. "of the washington -- "the washington post" reports -- can you comment on that? guest: unfortunately, i cannot. i understand why you need to. my lawyers have been clear that while this is sti