The following letter, signed by CPA's co-chairs for manufacturing, labor and agriculture, was sent to Jeffrey Immelt of General Electric on April 9, 2009.

April 9, 2009

Jeffrey Immelt

General Electric

3135 Easton Turnpike

Fairfield, CT 06828

Re:  Request for endorsement, Fixing America’s Economy

Dear Mr. Immelt:

We read your February 9, 2009 shareholder letter with interest and approval.  These words caught our attention.

I have also learned something about my country. I run a global company, but I am a citizen of the U.S. I believe that a popular, thirty-year notion that the U.S. can evolve from being a technology and manufacturing leader to a service leader is just wrong. In the end, this philosophy transformed the financial services industry from one that supported commerce to a complex trading market that operated outside the economy. Real engineering was traded for financial engineering. In the end, our businesses, our government, and many local leaders lost sight of what makes a nation great: a passion for innovation.

To this end, we need an educational system that inspires hard work, discipline, and creative thinking. The ability to innovate must be valued again. We must discover new technologies and develop a productive manufacturing base. Our trade deficit is a sign of real weakness and we must reduce our debt to the world. GE will always invest to win globally, but this should include a preeminent position in a strong U.S.

Our organization advocates smart trade policies that are good for those who make and grow things in America.  In our view, it has become clear that remedying the trade deficit is not only good for America, but good for Europe, Asia and the world economy.  Unbalanced capital flows and trade are globally harmful.

Last September, CPA and many other organizations and companies sought and achieved agreement on how to fix America’s economy.  Over 300 organizations, companies and prominent individuals have signed the document, which is attached.

We previously believed, based in large part upon past statements by your predecessor, that General Electric would be resistant to the remedies outlined.  However, we may have been in error.  We would welcome working with your company.

Perhaps General Electric could consider whether it could endorse the attached Fixing America’s Economy document.  Feel free to have any GE representative call us with questions.  Thank you.

Respectfully,

Brian O'Shaughnessy, Chief Co-Chair, Manufacturing Co-Chair

Joe Logan, Agriculture Co-Chair

Robert Baugh, Labor Co-Chair