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I don't know what so great about this.
I'm all for bring blue collar factory jobs back to North America but why do we have to ship our skilled IT jobs to India to do it. Bringing unskilled jobs to North America and shipping skilled jobs to 3rd World Countries in the end will make North America 3rd World. If we keep shipping all our it jobs to India soon there won't be enough qualified IT professionals in North America and we will need to start hiring East Indian IT professionals and moving them here because the unemployed IT guys here don't have the skills companies want. Oh wait companies like Morgan Stanley have been doing that for years. Their IT department is basically run by East Indians. No offense to the East Indians, they do a good job but this is at the expense of local unemployed IT professionals. All in All, this GE plan seems like a nice idea but is only trading unskilled jobs for skilled jobs (I do understand that's generalization and some factory jobs are skilled).