i don't know why you don't. >> since our report first aired, jeff immelt has remained a lightning rodr some critics. but immelt's brand of realistic optimism continues unabated. coming up, tough times in the american heartland. >> i wonder when you look forward now, what you think about rehiring people. >> when we hire somebody, we're definitely gonna need them. we're not gonna hire one person until we need two or three, and we're probably not gonna hire two until we need four or five. >> the economic struggles of newton, iowa, when 60 minutes on cnbc returns. [ female announcer ] hey, head & shoulders users... how long since you worried about flakes? since before jeans were this skinny. not since us three got a haircut. not since my first twenty-ninth birthday. [ female announcer ] head & shoulders. scalp and hair beyond compare. recently, students from 31 countries took part in a science test. the top academic performers surprised some people. so did the country that came in 17th place. let's raise the bar and elevate our academic standards. let's do what's best for our students-by

i don't know why you don't. >> since our report first aired, jeff immelt has remained a lightning rod for some critics. but immelt's brand of realistic optimism continues unabated. coming up, tough times in the american heartland. >> i wonder when you look forward now, what you think about rehiring people. >> when we hire somebody, we're definitely gonna need them. we're not gonna hire one person until we need two or three, and we're probably not gonna hire two until we need four or five. >> the economic struggles of newton, iowa, when 60 minutes on cnbc returns. [ male announcer ] this is corporate caterers, miami, florida. in here, great food demands a great presentation. so at&t showed corporate caterers how to better collaborate by using a mobile solution, in a whole new way. using real-time photo sharing abilities, they can create and maintain high standards, from kitchen to table. this technology allows us to collaborate with our drivers to make a better experience for our customers. [ male announcer ] it's a network of possibilities -- helping you do what you do... even better.

jeff immelt he was on the board of the new york fed the same time the fed authorized an emergency loan of sixteen billion dollars to g.e. and in two thousand and eight the chairman of the new york fed sat on the board of directors for goldman sachs when the bank applied was approved to become a bank holding company allowing goldman to receive billions in federal reserve loans also the g.a.o. found that at least eighteen current and former fed board members were affiliated with the banks and companies they received emergency loans from the fed so do you think this bill is going to go anywhere because there are a lot of vested interests that will not want to even i mean it's a it's a small i mean i applaud british senator drawing it but the entire i mean bernie sanders wants to take this the federal reserve has taken in treasury all right i think you just get it all together and you have the same conflicts i mean come on one of the first it was i did it was very private it's run by the banks but if it's run by the u.s. government that's not any better they're doing the if you look at the

it would be great if jeff immelt, our jobs czar who, by the way, gave the blueprint to a jet engine away for nothing to hew jintao for the privilege of bidding off on chinese aircraft, gave it away. it was the only thing holding china back from competing with him and with boeing. gave it away. the day that he was made the jobs czar on the steps of the white house, personally handed them to hu jintao. bad idea, jeff. so i think jeff would be a good example. now he's resourcing some of the jobs, pretty cool. i think he would be the perfect guy to do this. say i get it, i understand. i honor our engineering talent and i won't put their stuff at risk anymore. i recognize we're a technology -- i know he thinks it this. i recognize we're a technology driven country in every division we have got and we're going to protect that technology and get the highest roi we can for the shareholders. it is a whole new idea. he would be a great guy to do that. if he did that, i think a lot of other people would get the message. >> okay. brian. brian, alex. >> speak up. it is kind of a funny room. >> sure.

giving you an example, jeff and melt, he gave the blueprints for jet -- jeff immelt, he gave the bluely thing holding them back from competing. he gave it away. the day that he was made the jobs are, on the steps of the white house, i personally told him it was a bad idea. he would be a good example. i think he would be perfect guy to do this. i get it. i am stan. i will not put this stuff at risk -- i get it. i understand. i will not put this stuff at risk anymore. we will protect that technology and get the highest roi we can for our shareholders. it is an all new idea. if he did that, a lot of other people would get the message, i think. ok? >> brian. brian [unintelligible] [laughter] >> i wanted to ask, i am an entrepreneur. it seems like the tone of society has changed. and i was a kid, they were heroes. now you have occupy wall street, attacking them. saying it is unfair to make money and go after folks. how do you change this town in society where entrepreneurs are the bad guys? >> i do not think you are right about that -- about that. there is a lot of money cost conversation.

>> but dick, you also brought up a good point, too, in that if you talk about outsourcing jobs, jeff immeltetty good at that at g.m. >> out of 220,000 jobs, 160,000 are overseas and in g.e. where immelt is the head of the president's job council, 54% of their workers are overseas so the outsourcing that romney may have been involved in is minor and as to the swiss bank account, it is perfectly legal to have one. you just have to declare it and let the i.r.s. see it and he did. >> all right. always a pleasure. check out your web site, dickmorris.com and he has the brand new book climbing the charts. >> number three, "screwed. "easy title to remember. >> one of the best ever. >> timely to today's headlines. >> coming up next, call the p.c. police. a teen says a school nurse wouldn't hand over his inhaler during an asthma attack because he didn't have the right form. >> i know. >> and a police officer caught snoozing on the job. what's worse? that he was armed, i believe, made this whole thing worse. should i be whispering? [ male announcer ] when a major hospital wanted to provide better empl