The American Worker’s Loss Is GE’s Gain

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We all know that the Obama administration trots out the evil corporate stereotype time and time again. Whenever they need to justify another big government program, the president and his advisors are quick to criticize oil companies, pharmaceutical manufacturers, insurers, the banking industry and anybody else who dares to turn a profit in the private sector. There is one significant exception to this rule however: the $150 billion conglomerate known as General Electric.

The company, its chairman, Jeffery Immelt, and the Obama administration have recently been the target of pointed criticism after GE announced its intention to partner with China’s state-owned Aviation Industry Corporation to develop airliners. In addition to concerns over China’s dubious record in honoring patents and keeping industrial secrets, many see the move as a slap in the face to the hundreds of thousands of Americans who work for Boeing and for companies who are part of Boeing’s vast supply chain.

The irony of course is that Immelt, who Obama tapped to head the President’s Council on Jobs and Competitiveness, approved a venture that would both create overseas jobs and threaten domestic employment. “We are all in and we don’t want it back,” said Lorraine Bolsinger, chief executive of GE Aviation Systems.

But this is nothing new when it comes to Immelt and Obama’s cozy relationship, and the way that GE has profited from both corporate welfare and government-sponsored rigging of the marketplace. Anyone who was surprised by GE’s latest move hasn’t been paying attention.

“Jeff Immelt is perhaps the CEO who is most cozy with President Obama,” journalist Tim Carney said in an interview with John Stossel. “General Electric is structuring their business around where government is going . . . high-speed rail, solar, wind. GE is lining up to get what government is handing out.”

Arguably, no company has positioned itself better to take advantage of the “green revolution” in American energy production. The flip-side of GE’s commitment to “eco-engineering” is that the company would be hurt badly if the nation returned to a sensible energy policy that utilized the full spectrum of our vast natural resources.

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  • Fred Dawes

    GE Is now china; Can't people get what is happening in front of us all? the globalist have murdered this country and we are a dead people and on top of this evil the so called USA Is being flood with million on top of millions of third world people in other words we are now in a race war and if you think that is racists you are a total fool.

  • Watchman

    Another man that needs a bullet in the brain. I wonder just how much of our military secrets will be in the hands of China.

  • Raymond in DC

    Let's not ignore the billions GE's financial arm was hoping to make with carbon credits under cap-and-trade. The once very free market General Electric has become the poster boy for crony capitalism.

  • UCSPanther

    General Electric: We Bring Good Things to Life

    For China, that is.

  • Ava Ashendorff

    I have first hand knowledge of GE's business practices that have put the little guys out of business. Jeffrey Immelt is a disgrace to the American Manufacturing Market. GE is nothng more than a socialistic business model.

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  • steven l

    You are all ignorant. More than one half billion of Chinese live in poverty. It is therefore natural that Obama instructs Immelt to divert the US resources to help the Chinese to level with the US citizen. The Muslims do not get it yet in spite of Obama trying really hard. Obama does not get it either. The Muslims want to conquer the US in order to bring US citizen to the same level of poverty and ignorance existing in the majority of Muslim countries. Equality in poverty and ignorance is the new paradigm. But the elite will be super rich.
    The democratic leadership must be behind Immelt.

  • alexander

    Will someone please explain to the public, that our "DOW" or NASDAQ
    indices are as meaningful as earning statements of Mexican or Chinese
    Those pseudo-American companies pay foreigners for making products and
    Americans keep on buying them at "pre-inflation" prices.
    Yes, we have an inflation with unemployment about 25% – but everybody is
    keeping it a secret…
    Economy keeps on nose diving and unempl. keep on growing….and
    everything proves it… hope on horizon except next election…

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