Immelt hits out at China and Obama

Financial Times ^ | July 1 2010 | Guy Dinmore in Rome and Geoff Dyer in Beijing

[penelopesire]

"Mr Immelt also had harsh words for Barack Obama, US president, lamenting what he called a

[penelopesire]

At first I thought pigs were flying, but it was a false alarm. Like all crony capitalists..GE denied the report with this kiss up and make up denial to King Obama:

"In a statement, GE said Mr Immelt’s remarks had been taken out of context and contested the accuracy of the reporting. “Mr Immelt’s comments at a private dinner focused on the relationship between business and government in general and did not single out President Obama. Mr Immelt also discussed the attractiveness and importance of China as a market for GE.”

So Immelt is still a man with no moral compass. Too bad. Our country could use some John Galts about now.

[penelopesire]

PING!

[rbg81]

Wow—if the likes of Immelt are hitting out at Obama, things must really be bad. Of course, Immelt is probably ticked that Cap and Trade hasn’t been passed yet.

[SnuffaBolshevik]

Immelt’s P.O.’ed because Bam-Bam’s playing hardball with the backup fighter engine which GE wants to make.

And after all the knee pad time NBC/MSNBC gave to Bammy, he (Immelt) wants his payback.

[penelopesire]

Yep...it would appear that not only are Americans waking up to the Obama horror show..but the whole world is...that is all except GE and MSNBC...LOL! They are just getting pissed off that Obama hasn’t delivered the goods on the cap n tax scheme.

[onyx]

This would be Jeffrey Immelt.

Guess he’s very unhappy Cap & Tax hasn’t been jammed through.

[April Lexington]

Immelt is a total GE piece of dirt. He has supported Obama from day one. He is a liberal and would sell his soul for a buck. The words of Immelt are consistent with flatulence...

[Attention Surplus Disorder]

Lap dogs can talk? Who knew?

[penelopesire]

Well said...LOL. Can’t improve on that sentiment.

[depressed in 06]

Jeffery has fleas.

[penelopesire]

It was certainly a shot fired across the bow..followed by a frenchy retreat and white flag...lol! Spineless Coward!

[onyx]

You’re right! Complete toad.

[penelopesire]

He was silenced rather quickly by the Chicago fascist thugs apparently. The update at the site with Immelt’s denial came a mere 5 hours after the initial report.

[indthkr]

GE whining bump

[griswold3]

Business did not like the US president, and the president did not like business, he said,

[dogcaller]

It’s not easy being green.

[denydenydeny]

"Mr Immelt also had harsh words for Barack Obama, US president, lamenting what he called a “terrible” national mood and expressing concern that over-regulation in response to the global financial crisis would damp a “tepid” US economic recovery. Business did not like the US president, and the president did not like business, he said

Live by the government contract, die by the government contract, Jeff.

Betcha we don't hear these words repeated in the American media, especially not on Immelt's own cable networks.

[FlingWingFlyer]

Screw Immelt. I’ve started a personal boycott of anything GE. They can all kiss my ***.

[grey_whiskers]

GE -- and in particular, Immelt's mentor, Jack "Neutron" Welch -- was the "thought leader" who pioneered:

mandatory ranking of employees and firing of the bottom 10% every year

offshoring to China and India (think McKinsey, which is rife with GE alum)

artificially smoothing financial data to please Wall Street

the "rock-star" CEO: funny how when times are good, CEOs get the credit, but when times are bad, CEOs are entitled to huge bonuses because "it's a challenging environment"

the practice of setting your business up to go after an area, then stampeding the populace and politicians into a "need" for that area (Ecomagination, Health Care, Offshoring)

useless fads like "Six Sigma" when what we need is NEW products and growth

So it's interesting that he's finally figured out that if you send all the technology and all the high-paying jobs overseas, where salaries are low (wage arbitrage), you only have a brief window before your primary, high-paying customers go under.

And then the offshore country steals your technology and sells their *own* brands to their countrymen, and have no compunction at all about blatant favoritism of a kind which would be called "racism" here.

And the playing field tilted in so many little ways, from access, to taxes, to uneven enforcement of the laws.

You know, the whole constraining moral structure which the sage so wisely deemed did not apply to them, so long as they made a profit.

Good luck getting a judge to rule in your favor wrt China, Immelt.

You and your fellow traitorous "free-trade" CEOs are scum.

Cheers!

[penelopesire]

Excellent post. One question. What is ‘Six Sigma’? Not familar with the term. Thanks.