Posted on 01/24/2011 6:38:44 AM PST by SeekAndFind
In case there existed any doubt that Barack Obama (D., Goldman Sachs) is Big Business’s man in Washington, he has named General Electric CEO Jeffrey Immelt to a key economic position: head of the President’s Council on Jobs and Competitiveness, successor to Paul Volcker’s Economic Recovery Advisory Board.
GE, you will not be surprised to know, spent $32 million on lobbying in the last year and is a big political donor. Like its colleagues in most Big Business sectors, it heavily favors Democrats: It was a large contributor to Barack Obama’s senatorial and presidential campaigns, and the single largest recipient of GE money in 2009–10 was, you will not be surprised to learn, one Barack Obama.
Many in President Obama’s union-goon constituency are disappointed with the decision: Mr. Immelt, they complain, is an “outsourcer,” sending their jobs (“their” jobs) to China. Case in point: GE is shutting down two U.S. factories that made incandescent lightbulbs; the replacements will be made in China.
But hold on: Those incandescent lightbulbs are going the way of the dodo and the pro-life Democrat not because of nefarious plotting by the infernal Chicomms, but because the United States is banning them. Who banned them? The Democrats did, as part of their first-100-hours push upon assuming the majority in Congress. (And who lobbied the Democrats to ban them? GE, of course, for its own Machiavellian reasons.)
Having been the target of a Teamsters picket, I can attest that organized labor is not full of the brightest bulbs in the great American light show. But: How do you give your money and your votes to the party that plans to ban your product and then turn around and whine when they ban your product? Keep up with the news, geniuses.
Speaking of Chicomms, GE was in the process of signing a bunch of deals with them even as Mr. Immelt’s appointment was percolating. Which must have put him in a sweet negotiating position.
GE is the poster child for corporate welfare, having encouraged the supersizing of Obama’s stimulus lard-loaf as a prelude to chasing after its green-tech and energy giveaways. Immelt tagged along with Obama to India, where the president acted as vice president of marketing for the gaggle of CEOs he had in tow.
GE’s cozy relationship with government is paying off: The company has been given a multibillion-dollar contract to build an engine for the Joint Strike Fighter — which already has an engine, built by another company. Having two companies building redundant engines for the same plane was enough to get defense secretary Robert Gates’s attention; he called it a “wasteful boondoggle.” The Pentagon doesn’t want it. But GE got the deal, all the same.
In truth, I can’t think of a more appropriate adviser for an overreaching, arrogant, big-government administration than the head of GE, an overreaching, arrogant, big-government corporation. If we can have a tax cheat overseeing the IRS, why can’t we have a corporate-welfare case telling us how to get productive?
— Kevin D. Williamson is a deputy managing editor of National Review and author of The Politically Incorrect Guide to Socialism, just published by Regnery
Immelt has all but destroyed GE.
Years from now, people will look at the Obama Administration and just shake their head. America fell off a cliff in 2006 and 2008. We ceased to exist as the land of the free and the home of the brave. I feel like I’m living behind enemy lines now.
Crony Pseudo-Capitalism, aka Oligarchy Socialism, aka Third Rate Tyrants get Millions from Taxpayers
(hint: GE has lost 2/3 of its market value under this pretty boy's leadership)
I'm not so sure. He has presided over a very bad period for GE, of course. And, I'm not happy with him sucking up to Obama. But, I also think he was handed an overvalued company which had become too dependent in finance under Jack Welch. Some change of fortune was inevitable.
It is all part of the plan to make Atlas Shrug. One step at a time, on policy at a time, one company at a time, one person at a time.
Two steps forward, one step back. Government Motors is merely the front window of a very large store.
The Government-Corporate Complex grows by the day, where I come from, we call that “Fascism.”
And both of them specialize in cutting jobs.
“I feel like I’m living behind enemy lines now.”
I share the feeling.
When I was growing up, I don’t know if there were more people of character, I suspect there were, but I was young, I can’t say for sure. What I do know is that collectively, our society aspired to be people of great character. At least on the surface, we wanted to be good people.
That no longer exists. People are out to “get theirs”. And bad behavior, low morals and no ethics are acceptable as long as the person in question is wealthy.
I’m unlucky enough to live long enough to watch America unravel, and understand what’s happening.
You need to be more specific: Both of them specialize in cutting American jobs.
If you didn’t see/hear it, Rush had a very good discussion on Bambi’s appointing Immelt to his Econmic Advisory Council. The deal smells big time for more than 1 reason.
http://www.freerepublic.com/focus/f-news/2661453/posts
when was the last time a rent seeking corporation actually created economic value
small business is the job growth sector and Obamao lost them a long time ago.
Excuse me, but didn’t the Democrats accuse Bush of favoring particular corporations?
Obama wants corporate America to be beholden to him. Then he has control.
He creates jobs in Red Commie China by closing down their last light bulb plant in America, costing 200 - 300 American JOBS! And those jobs went to RED COMMIE CHINA!!
What a complete farce. GE is the epitome of corporate government Oligarchical control over America’s economy and citizen’s well being.
RE: He creates jobs in Red Commie China by closing down their last light bulb plant in America, costing 200 - 300 American JOBS! And those jobs went to RED COMMIE CHINA!!
Not sure if he has any choice in this. Incandescent bulbs are not allowed to be sold in 3 years. What’s a businessman to do with a law like this?
Facism with a smiley face.
Thanks for that link!!
Just when I though I couldn’t be more disgusted, Obama names yet another czar to head another board to improve jobs here. And gives it to one of the biggest outsourcers in the corporate world. Let’s just teacht eh Chinese everything we know.
Another selling of the soul, the ramifications of which may or may not be felt in Immelt’s lifetime... but his grandchildren will curse him someday. I know mine will.
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