Is it just me or do Obama and Immelt have something going with each other? Are these two zooming each other or what? Do you think it’s possible there is some serious back scratching going on here?
Let’s see, Immelt, who heads GE gets a pass on paying any taxes (zero) on his companies earnings last year. GE, by the way made 5 billion dollars in the U.S. and another 9.2 billion overseas or off shore. From ABC News: “GE’s success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. Infact, GE got a $3.2 billion tax benefit.”
Immelt was appointed Chair of Obama’s Council on Jobs and Competitiveness. Recently the President and Immelt were asked about the stimulus and the shovel ready jobs it was supposed to create. They laughed about the fact there weren’t many shovel ready jobs! Actually there could have been alot of shovel ready jobs if the President had directed that money go for infrastructure repair and building. The President however, opted to send that money to the states to keep those government employee jobs funded. A payoff, if you will, to the government employee unions for voting, endorsing and donating to Democrat candidates. By doing this, millions of those dollars flow back into Democrat coffers via union donations. The donations funded by union dues. Could we call this money laundering?
Today I have read a couple different stories (CNN Money) (Politico) about Immelt telling America’s businesses they have to start hiring and put people back to work. That they need to be a part of the solution. Sorry, but this is truly a joke from either the “Shill Immelt” or “The Fool Immelt.” How can this guy talk like this when his company has laid off around 270 folks in my area alone? Since Jan. 2010 GE has eliminated something like 36,000 jobs.
Look, I understand how business works. If there is no demand, you just cannot afford to keep paying people that you don’t need. You’re in business to make money, either for yourself or your stockholders. So, why is Immelt pressuring America’s businesses to hire when there is either no demand or little demand for their products? Shilling for the President? Perhaps in exchange for favorable job bids, little or no taxes, or what? I am not aware that Immelt is dishing out jobs for the hell of it. Maybe he’s a hypocrite. A “Do as I say, Not as I Do” kinda guy.
Wait, I shouldn’t be too harsh on Jeff. He is creating another 300 jobs by the end of next year in Mexico!
I think Immelt’s angle in working with Obama is, he is hoping to gain an edge on participating in a fair amount of the “Green Technology” programs that Obama would like to start.
What does Obama get? I think he gets a very successful CEO from one of America’s most successful companies to be out front in jobs promotion. Obama can say look, Jeff Immelt is working with and advising me. Whatever!
I’m sorry, I just never really believe anything that Obama says and the more I read about Immelt the less I believe him. The fact that they’re in bed together now, is not a reason for me to start believing in them. I prefer to let sleeping dogs lie. How about you? Just Asking.