Jack Welch
When the Bureau of Labor Statistics released its September jobs report showing that unemployment had dropped to 7.8% (from 8.1% in August), Jack Welch, the former CEO of General Electric turned biz book author, Tweeted, “Unbelievable jobs numbers…these Chicago guys will do anything…can’t debate so change numbers.” Obama supporters were outraged at the suggestion that the President could somehow cook the books to put himself in a more flattering light. Andy Serwer, the managing editor of Fortune magazine (part of TIME’s parent company, Time Inc.) went on MSNBC’s Morning Joe to dispute Welch’s contention, which effectively ended the writing contract Welch had with Fortune, so Welch turned to the Wall Street Journal to write a more in-depth explainer on why he doubted the jobs numbers. “The coming election is too important to be decided on a number. Especially when that number seems so wrong.”