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Only when republicans are in office do the libs give a crap about corporate cronyism and corporate welfare, or where our tax dollars are going to.
Two weeks after 0bama's January 2009 inaugural address: Jeff Immelt sends out a memo to his shareholders:
"The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner."<LINK>
Feb 06, 2009 - President Barack Obama has named Jeffrey Immelt, CEO of NBC Universal parent GE, to his new economic advisory board. <LINK>
Jeffrey Immelt was correct, from here on in, 0bama begins using the federal government and taxpayer dollars in a shameless campaign of corny capitalism with GE and Immelt.
March 2009 -0bama signs an Executive Order to allow the National Institutes of Health (NIH) to fund research using embryonic stem cells, and GE announces they are getting into the stem cell business.
June 2009 - GE Healthcare, a unit of General Electric Company (NYSE: GE), and Geron Corporation (Nasdaq: GERN) today announced that they have entered into a global exclusive license and alliance agreement to develop and commercialize cellular assay products derived from human embryonic stem cells (hESCs) for use in drug discovery, development and toxicity screening. The program will use stem cells derived from hESC lines listed on the NIH Human Pluripotent Stem Cell Registry. Financial terms are not being disclosed. <LINK> (http://www.geron.com/media/pressview.aspx?id=1181 - broken link)
******************************* January 2010 -MIAMI — President Barack Obama and Vice President Joe Biden will on Thursday direct $8 billion in economic stimulus funding toward a long-awaited US high-speed rail system. <LINK>
In April 20090bama says: "Imagine what a great project that would be to rebuild America. Building a new system of high-speed rail in America will be faster, cheaper and easier than building more freeways or adding to an already overburdened aviation system –- and everybody stands to benefit."<LINK>
In May, 2009 - "Simonelli hopes the new Evolution model could mark the beginning of something else -- the return of GE Transportation to the passenger train business. GE, which built more than 300 Genesis model passenger locomotives during the 1990s, wants to be a player in that industry, Simonelli said.
"GE has the know-how and the manufacturing base to develop the next generation of high-speed passenger locomotives," he said. "We are ready to partner with the federal government and Amtrak to make high-speed rail a reality." <LINK>
******************************* June 2009 -GE hires Linda Daschle as a lobbyist, the wife of Tom Daschle, the former Senate Democratic Leader and Obama's first pick to head the Department of Health and Human Services. <LINK>
Can you spell Crony Capitalism?
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Here we have a recipient of tens of millions from the 0bama stimulus, is buying cars from GM, a recipient of TARP…. And around and around we go… weeeeeeeeeee…..
Under the Economic Recovery and Reinvestment Act, each manufacturer of electric-drive vehicles will be entitled to tax breaks. Consumers who buy plug-in vehicles will also be entitled to a tax credit of $5,000 depending on the size of the battery as measured in kilowatt hours. The credits start at $2,500 and increase by $417 for every kilowatt hour of battery capacity in excess of four kwh. The Volt is rated at 16kWh, which equates to $7,500: $2,500 + $5,000 ($417 x 12 excess kwh = $5,004).
November 2010 -GE said Thursday it will buy 25,000 electric vehicles for its fleet through 2015 in the largest-ever purchase of electric cars.
GE will begin with an initial purchase of 12,000 vehicles from General Motor Co., starting with Chevy Volt in 2011. The conglomerate said it "will add other vehicles as manufacturers expand their electric vehicle profiles." <LINK>
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General Electric is hoping to tap into $2 trillion worth of government stimulus spending over the next three years to beef up revenue in its energy infrastructure division, including renewable energies such as wind and thermal power. <LINK>
Jan 21, 2011 -President Obama is launching a new economic advisory council focused on job creation and competitiveness and has named General Electric chief executive Jeffrey Immelt as its head, the administration announced early Friday morning. <LINK>
Remember this quote??
Feb 2009 - "The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner."
And this one: "Every single great idea that has marked the 21st century, the 20th century and the 19th century has required government vision and government incentive." – Joe Biden Oct 2010
Seems like there is a lot of back scratching going on between our government and the mega corporations like GE and GM, and they are using our tax dollars to pleasure themselves.
...and the liberals seem fine with this? If you want to see crony capitalism, look no further then the 0bama administration.
Ever since 0bama was elected he has been handing out hundreds of BILLIONS of taxpayer dollars, in an incestuous dance between government, GM, taxpayer dollars and GE. Somebody's getting rich, and it isn't the American public. 0bama has "saved or created" sooooo many jobs, that we are still sitting over 9% unemployment.
I'm so glad that during "the worst economy since the Great Depression" that 0bama can put our hard earned taxpayer dollars to work, making GE rich.
Obama and Immelt realize there is a huge difference between economic theory and business. Economic theoreticians are college professors looking for tenure. Business managers are looking for profits and bonuses.
This liberal hopes his mutual funds own some GE stock.
Obama and Immelt realize there is a huge difference between economic theory and business. Economic theoreticians are college professors looking for tenure. Business managers are looking for profits and bonuses.
This liberal hopes his mutual funds own some GE stock.
...and Immelt has been a complete failure, losing the corporation billions of dollars. Why he is still their CEO, I'll never know. So why did the president appoint a loser like Immelt?
Mussolini set up councils composed of corporations, unions, and government. Their job was to regulate the economy. He called it Fascism. It seems that that's what Obama and his masters wish for this country.
Fascism is one of the most ill-understood and misused words in the English language. This is its actual meaning.
...and Immelt has been a complete failure, losing the corporation billions of dollars. Why he is still their CEO, I'll never know. So why did the president appoint a loser like Immelt?
Why would you expect a loser appoint someone who is competent? Everyone he appointed failed to the top.
My understanding of recent events is GE has spent billions of dollars to establish a near monopoly position in several critical transportation, mining, electric power and similar industries. This is an example of investing, investing is not a loss, now for future profit instead of always placing current profit over growth. IMHO this is how a business should be managed.
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