Tuesday, October 9, 2012

Jack Welch Can't Stand the Heat

Jack Welch, who knows a thing or two about cooking the books, couldn't stand that his demented, unsubstantiated allegation that the Bureau of Labor Statistics doctored the numbers to help the Obama administration in the upcoming election via the Twitters, was being criticized from all sides* and decided to quit (along with his wife) his position as contributor to Reuters and Fortune Magazine.

Welch said he will no longer contribute to Fortune following critical coverage of the former CEO of General Electric, saying he would get better "traction" elsewhere. On Friday, Welch suggested that the Obama administration, calling them "these Chicago guys," had manipulated the monthly jobs report in order to make the economy look better than it actually is just weeks before the election. Welch has been battered by criticism since making the suggestion on Twitter.
Welch apparently ended up at odds with various journalistic institutions that placed a higher premium on providing readers with objectively rational information about the economy, as opposed to flattering an old executive who sows derangement on the Internet. According to Gandel, Welch did not take kindly to a CNN Money piece that criticized Welch's original tweet, and was further angered by a Fortune piece, "detailing Welch's record as a job destroyer."

That, poor, poor multi-millionaire. My heart bleeds.

* Except the Fox side, of course. That would be lunacy.

(Cross-posted on ABLC)

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