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The former GE legend notified the magazine that he'd rather write elsewhere after idiotically suggesting that the Obama campaign had somehow cooked the unemployment books. Welch's tweet, which he posted just minutes after release of the unemployment report, was laughed off by most every economist under the sun. In several interviews later that day, Welch refused to back down on his comment. Really pathetic. From Fortune:
CNNMoney, which shares content with Fortune.com, ran a story on Friday covering Welch's tweet. The piece said that even conservative economists thought Welch was wrong to question the jobs numbers. On Tuesday, Fortune.com ran a story detailing Welch's record as a job destroyer. GE lost nearly 100,000 jobs during the 20 years in which Welch ran the company. "I never put myself out there as an employment agency," Welch told Fortune. Following the story, Welch sent an e-mail to Reuters' Steve Adler and Serwer saying that he and his wife Suzy, who have jointly written for Reuters and Fortune in the past, were "terminating our contract" and will no longer be sending our "material to Fortune."
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.