From socialism toward fascism:
"Jeff Immelt's experience at GE and his understanding of the vital role of the private sector plays in creating jobs and making America competitive makes him up to the challenge of leading this new council."
-- Statement from President Obama announcing his appointment of GE CEO Jeff Immelt to lead the President's Council on Jobs and Competitiveness
No word yet whether Immelt plans to step down from his position at GE to avoid any perception of conflict of interest.
Full disclosure - I bought a bit of GE stock when it was in the tank, so I for one welcome the conflict.