Good Griefâ¦Head of Obamaâs Economic Advisory Panel Moves Business to China Posted by Jim Hoft on Wednesday, July 27, 2011, 12:19 PM Good griefâ¦ Even the head of Obamaâs Economic Panel is bailing on him. Obama named his longtime friend and supporter GE chief Jeffrey Immelt to head his economic recovery advisory panel in January. (LA Times) The head of Barack Obamaâs Economic Advisory Panel is moving his business to China. Bloomberg reported: Well, we know the move was not based on taxesâ¦ GE didnât pay any taxes last year. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. But that didnât stop the company from moving business to China.