I think the poster is using one of these in order to stay pure.
Posted on 10/10/2011 12:39:25 PM PDT by reaganaut1
General Electric Co., where Ronald Reagan honed his communication skills as a company spokesman, is struggling to fend off attacks from conservatives over its relationship with the Obama administration and ventures in China, raising concerns inside GE that the controversy could damage its brand.
Former Republican Alaska Gov. Sarah Palin last month slammed GE for being "the poster child of corporate welfare and crony capitalism." Presidential candidate Newt Gingrich used GE as an applause line during the Republican debate sponsored by the tea party in September. And Fox News television personality Bill O'Reilly has derided the conglomerate and Chief Executive Jeff Immelt almost weekly.
The company's critics will get another opening this week. Mr. Immelt is to appear with President Barack Obama at a meeting of the president's jobs council in Pittsburgh on Tuesday, the same day that the Republican presidential contenders square off in a debate at Dartmouth College.
The tea party and its allies are taking aim at GE for a number of alleged sins, including the company's paltry 2010 federal tax payment, an aviation joint-venture in China, moving jobs overseas and taking federal stimulus dollars for green-energy projects.
It hasn't helped that Mr. Immelt's position as head of the President's Council on Jobs and Competitiveness, an advisory panel of executives, makes him one of the country's closest executives to Mr. Obama. The White House didn't respond to a request for comment.
"We've had concerns that Immelt uses the government rather than the marketplace to drive GE's philosophy on how to do business," said Wayne T. Brough, chief economist at Freedomworks, a national tea-party group that has protested at GE shareholder meetings. "It feeds into a crony capitalist kind of mentality that isn't actually the best way to generate economic growth."
(Excerpt) Read more at online.wsj.com ...
GE doesn’t have to worry about its brand with me, I already avoid their products. Same as Government Motors and Dodgy Chrysler, Google, Apple and other openly hostile to America companies.
Does GE have a business line that isn't in bed with the government?
Probably not. If you'll recall, Jeffrey Immelt gave a speech a few years ago which openly admitted that GE's business model was no longer to produce products to make profits, but simply to grab as many government contracts as possible.
And guess who’s buying all those Volts?? And guess who has the monopoly on plug in stations??
Then what are you posting with? Microsoft is just as ‘hostile’ as Apple, and most *nixes are produced by hard lefties.
I still don’t like the term “crony Capitalism”. “Corporate Socialism” seems to me to be more accurate.
This must cause a real problem for some here at FR. Making money for the shareholders is a corporation’s number one job. GE isn’t breaking any laws, and they are saving lots of money in taxes. They just have to cozy up to Obama to do it.
When lay down with dogs, you get fleas.
Immelt has poisoned the GE brand with his crony corruption. I know many people that now avoid GE the way they shun GM.
Call me old fashioned but I think the correct term is "fascism".
What is happening to GE is a good example of why businesses should avoid getting involved in politics. No matter what you do you are bound to make a large fraction of potential customers angry.
I think the poster is using one of these in order to stay pure.
I keep wondering when GE will get a government contract to produce “Zyklon-B”.
Well damn, tax payers are tired of GE sucking our tits, well damn.
This is what "Occupy Wall St" looks like.
But the MSM prefers to write headlines about "Tea Party Attacks".
“GE isn’t breaking any laws, and they are saving lots of money in taxes.”
To be honest, GE finance businesses lost a ton of money in 2008-2009 due to the recession. They paid no US taxes in 2010 because they were able to deduct those losses from their income which is standard practice for any corp.
So as long as they aren't "breaking any laws" and are "making money for the shareholders" it's okay that they buy governmental favoritism which forces us and our offspring to pay billions upon billions for everything from their dangerous compact flourescent bulbs to bailing out their bankrupt financial arm?
GE has gone far beyond crony capitalism. They've adopted the same business model as the 19th century robber barons.
But that's okay as long as they're getting away with it and the shareholders are happy?
Oh sure... Just “one up” me. ;-)
Maybe...
I know of some Quasi-Tea Party Seniors that beeotch and moan how Imelt has been awful for share price and cozying up to Iran but boy they love the dividends and won't sell because they will take a bath on the share price.
That disconnect I can't understand or if I do, I don't want to go their. IMHO there is only so much I could take and I would sell, it is too much of a moral conflict therefor, I will never own GE directly....
Maybe...
I know of some Quasi-Tea Party Seniors that beeotch and moan how Imelt has been awful for share price and cozying up to Iran but boy they love the dividends and won't sell because they will take a bath on the share price.
That disconnect I can't understand or if I do, I don't want to go their. IMHO there is only so much I could take and I would sell, it is too much of a moral conflict therefor, I will never own GE directly....
“But that’s okay as long as they’re getting away with it and the shareholders are happy?”
Don’t shoot the messenger. I’m simply pointing out the conundrum presented to many freepers. Actually, it’s not a big issue for them....
A corporation’s #1 job is to make money for shareholders.
End of story.
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