It is unclear how the administration plans to deal with the ethics challenges created by having a CEO whose income is determined by stock performance leading a panel designed to recommend government policies. G.E. (2009 revenue: $157 billion) is a huge government contractor and is always in the market for new subsidies and incentives.
Immelt’s shareholders certainly had to think that access had its benefits this week when the Obama administration signed off on a plan to allow the company to spin off under-performing NBC to cable giant Comcast.
Though intended to show Obama’s coolness with corporate America, the Immelt pick will likely reinforce the perception in American boardrooms that Obama likes to play favorites when it comes to the economy.
Read more: http://www.foxnews.com/politics/2011/01/21/obama-teams-ge-iran-palaver-peters-arrives-white-house/#ixzz1BmdXduHj
Saturday, January 22, 2011
Jeff Immelt and the Military Industrial Complex
Allow me to be the first Unitarian Universalist blogger to trot out The Military Industrial Complex with regard to this very Chicago style appointment. All that's missing is for Immelt to declare GE a minority/women owned business.