President Obama in January tapped General Electric chief executive Jeffrey Immelt to head an industry group that would advise him on how American companies could create more jobs. But the White House had been hush-hush since then about who exactly would sit on that council. On Thursday, the White House (finally) relased the list of business heavyweights who on the panel. The is list is very tech-heavy. In addition to Intel CEO Paul S. Otelliniand former AOL Time Warner CEO Steve Case, whose names were leaked earlier, the list also includes Silicon Valley venture capitalist John Doerr and Facebook COO Sheryl Sandberg. Among the other executives on the council are Kenneth I. Chenault, CEO of American Express, and Gary Kelly, CEO of Southwest Airlines.
Business leaders vented their frustrations with government regulations on Thursday at a committee hearing chaired by Rep. Darrell Issa (R-Calif.), while Democratic lawmakers on the panel argued that some government rules are necessary to protect public health and safety. Eight business representatives gave testimony at the House Oversight and Government Reform Committee hearing, at which they pointed to a host of regulations across the federal government that they said adversely affected job growth. Their targets ranged from financial regulatory reform provisions to transportation, labor, environmental and energy rules.
The results of a 10-month federal probe into the possible electronic causes of unintended acceleration in Toyotas are expected to be released Tuesday afternoon, with Department of Transportation officials and scientists from NASA explaining their findings.
Bank of America is aggressively maneuvering to get a Nevada county judge's order halting more than 8,900 foreclosures statewide by one of its subsidiaries overturned. In one of a growing number of foreclosure cases across the country in which judges are questioning whether notices and documents were improperly prepared, Nye County District Court Judge Robert Lane issued a preliminary injunction against BofA's ReconTrust, blocking it from proceeding with with non-judicial foreclosures until a Feb. 28 hearing.
The state dinner Wednesday night for Chinese President Hu Jintao was heavy on corporate executives. Among those in attendance: General Electric Co. chief executive Jeff Immelt. Microsoft CEO Steven Ballmer, John Chen, chairman, CEO and president of Sybase. Chen is also the chair of the Committee of 100, the group of influential Chinese-Americans. MGM Resorts International CEO Jim Murren. The Associated Press reports that "the Las Vegas-based casino company has joint ownership of casino in Macau, the Chinese gambling enclave. MGM Resorts also has deals to build and manage nongambling hotels in China under its hospitality division." Intel CEO Paul Otellini. Bank of America CEO Brian Moynihan. Morgan Stanley CEO James Gorman. JPMorgan Chase & Co.CEO Jamie Dimon. Lloyd Blankfein of Goldman Sachs Group Inc. John Thornton, chairman of HSBC Holdings Plc's North American division. American Express CEO Ken Chenault. David Rubenstein, co-founder and managing director of Carlyle Group. W. James McNerney, CEO of the Boeing Company. Dow Chemical Co. CEO Andrew Liveris.
Several of this country's most powerful corporate leaders met with Chinese President Hu Jintao and President Obama at the White House on Wednesday to discuss increasing U.S. exports to China in order to support more American jobs.