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GE Chief Immelt Defends Notre Dame’s Invite to Obama


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Read the Hollywood Reporter story Drama at GE Shareholders Meeting

GE Chief Immelt Defends Notre Dame’s Invite to Obama

Every day the symbiotic relationship between GE CEO Jeff Immelt and President Obama becomes more apparent. Obama needs good press and Immelt needs cap-and-trade legislation to boost sales of GE’s wind turbines.

GE Chief Immelt Defends Notre Dame’s Invite to Obama, an article in Bloomberg.com by Ryan Flinn, informs us that Immelt recently wrote a commentary, in The Observer, Notre Dame’s school newspaper, supporting the administration’s decision to invite the president to deliver the 2009 commencement address.

In his commentary Immelt said, “You cannot bring about positive change in so diverse a world without working cooperatively with those who are different, who may disagree with you, but whose perspectives should be welcomed.”

Immelt gave the commencement address at Notre Dame in 2007 and justified his taking a stand in this issue “because of the company’s relationship with the school. GE employs 400 Notre Dame graduates, including Chief Financial Officer Keith Sherin.”

Immelt , by taking a position in the Notre Dame controversy, is lending credibility to the claim that he is using NBC’s media empire to protect Obama.

Comment by Tom Borelli

Companies In The Spotlight

Walt Disney

It sure looks like Walt Disney has become an extension of the Democratic Party. Under the "leadership" of liberal CEO Bob Iger the company is burying the DVD of the ABC TV miniseries "The Path to 9/11" because the Left complained the program was biased. Because of Iger's decision shareholders are being denied an opportunity to generate revenue and the public is being denied an opportunity to learn about the events that led up to the terrorist attack on Septermber 11, 2001.  

British Petroleum

Under the leadership of group chief executive Lord Browne, BP leveraged an in-vogue liberal movement called Corporate Social Responsibility (CSR) in addressing the public’s unease with oil companies and their affect on the environment. BP sought to re-position itself as a “green” and “socially responsible” company by distancing itself from its petroleum roots and its competitors.

General Electric

We Applaud GE's Vision to Develop Efficient Products: Condemn Their Support of Excessive Greenhouse Gas Regulation.  General Electric is seeking federal regulation on global warming. With energy prices at an all time high, regulations seeking for carbon dioxide emission limits will drive energy prices even higher.  Additional energy price shocks will cause significant economic damage harming future earnings of both GE shareholders and businesses throughout the United States.

Goldman Sachs

We just love the money making machine of Goldman Sachs. Yet the Chilean land deal ocherstraed by former CEO Hank Paulson looted shareholders of a good source of revenue only to service his hobby. Making matters worse, the company has not disclosed important details surrounding the land donation including the fair-market value of the 680,000 acres of land.