Sweet: GE chairman confronted about MSNBC bias at shareholders’ meeting

posted at 7:56 pm on April 22, 2009 by Allahpundit

Smells like a set up. A glorious one.

Later, during the umpteenth question about MSNBC, another shareholder’s microphone was cut, according to multiple attendees.

“The crowd was very upset with MSNBC because of its leftward tilt,” one attendee said. “Some former employees said they were embarrassed by it.”

One specific complaint about MSNBC concerned Keith Olbermann’s interview of actress Janeane Garofalo, who likened conservatives to racists and spoke of “the limbic brain inside a right-winger.”

“They were upset that Olbermann didn’t bother to challenge her,” one GE shareholder said…

“My biggest surprise was the open hostility to MSNBC,” another shareholder said. “It was noticeable and loud. I don’t remember any of this going on last year.”

I want to believe this is righteous shareholder fury erupting in grassroots fashion after having endured one too many Chris Matthews leg thrills, but it’s strange that the reaction last year would have been so muted in comparison. Between the heat of the campaign and still having Bush to kick around, Olby and co. were more biased then than they are now. Why the sudden shareholder crankiness? Is it because Maddow’s ratings are tanking and Fox is crushing them in every time slot? Were the “teabagging” jokes the final straw? Or is it a simple matter of there being more than a few O’Reilly viewers among the GE ownership? Check out what aired on the Factor two nights ago. Exquisite timing, Bill.

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Comment pages: 1 2

So, the bigger question is: what kind of operation CUTS MICROPHONES OF SHAREHOLDERS WHEN THEY ARE ASKING PERTINENT QUESTIONS? Uh, creepy, much?
Mommypundit on April 22, 2009 at 8:34 PM

The kind of corporation that’s owned by Barak Hussein Obama.

logis on April 22, 2009 at 9:26 PM

Later, during the umpteenth question about MSNBC, another shareholder’s microphone was cut, according to multiple attendees.

They cut the microphones off in the middle of the shareholders questions! Bet the advertisers are getting skittish, what, with falling ratings, and upset shareholders.

This right-winged, redneck, tea party gal has blocked MSNBC & NBC from my channel line-up and refuses to buy anything GE.

TN Mom on April 22, 2009 at 9:28 PM

The kind of corporation that’s owned by Barak Hussein Obama.

Like GM, Chrysler, Fannie, Freddie…

jgapinoy on April 22, 2009 at 9:28 PM

NaCly dog on April 22, 2009 at 9:10 PM

?

Name some other companies that were good long-term investments.

ericdijon on April 22, 2009 at 9:29 PM

I’m going to tell you something. A couple of folks including me, are waging a revolt agains Immelt. The board should CLEARLY show him the door.

marklmail on April 22, 2009 at 9:30 PM

Sorry, made the mistake of going to getalife’s blog, then I had to take a shower. What a circle jerk.
So, she is a he or is she/he just confused.

BTW, I hope the shareholders continue to raise hell. We’ll see how long it takes for Olbermann and She-man to be fired.

HornetSting on April 22, 2009 at 9:34 PM

Obama’s wageing a One Man Mission,

a Crusade if you like,against Capitalism!

Me thinks a certain group,located between
Europe and Asia,are also on the same mission!

canopfor on April 22, 2009 at 9:36 PM

Sorry,made the mistake of going to getalife’s blog,

HornetSting on April 22,2009 at 9:34PM.

HornetSting: I,as well,was curious to visit!

Nice baby picture,eh!:)

canopfor on April 22, 2009 at 9:40 PM

Name some other companies that were good long-term investments.

Wal-mart?

USgov.com? I understand Northern Virginia is just booming

With the liberals in power, Sanctimonious Inc. is a good investment.

SteveMG on April 22, 2009 at 9:41 PM

kelley in virginia on April 22, 2009 at 9:01 PM

Never use emotion listen to needsalife in when trading.

needalife on April 22, 2009 at 9:04 PM

Much, much better

Branch Rickey on April 22, 2009 at 9:44 PM

Wal-mart?

I knew I should thrown in a caveat!

Anyway, if the cons don’t gain some legislative clout, I fear there may be some A-T insinuations that they will have to lawyer up for (and squash like a blue light special.)

ericdijon on April 22, 2009 at 9:51 PM

Sorry,made the mistake of going to getalife’s blog,

HornetSting on April 22,2009 at 9:34PM.

HornetSting: I,as well,was curious to visit!

Nice baby picture,eh!:)

canopfor on April 22, 2009 at 9:40 PM

Blog? That’s not a blog. It’s a photo album…a very skimpy photo album with a few very non-unique photos. But what a surprise to find that getaclue is a gnome. All this time I thought it was a troll.

Dee2008 on April 22, 2009 at 9:53 PM

“Some former employees said they were embarrassed by it.”

When you go from General Electric Theater with Ronald Reagan to this shite! I’d be embarrassed as well…

Caper29 on April 22, 2009 at 9:59 PM

the corruption runs too deep to have any change at the ballot box…it is getting to be choice time. Do we continue into the swamp of dictatorship or do we try to being back liberty. time for the conservatives to take back the local and state governments and then call a consitutional convention to decrease the power of the federal gov. It is the only way short of open warfare IMO.

unseen on April 22, 2009 at 10:03 PM

So, she is a he or is she/he just confused.

HornetSting on April 22, 2009 at 9:34 PM

So s he is a liar, just as we all suspected.

thomasaur on April 22, 2009 at 10:03 PM

So, the bigger question is: what kind of operation CUTS MICROPHONES OF SHAREHOLDERS WHEN THEY ARE ASKING PERTINENT QUESTIONS? Uh, creepy, much?
Mommypundit on April 22, 2009 at 8:34 PM

The kind of corporation that’s owned by Barak Hussein Obama.

logis on April 22, 2009 at 9:26 PM

Start bringing one of these to shareholders meetings:
http://www.megaphoneusa.com/

izoneguy on April 22, 2009 at 10:04 PM

God bless you, Allah, you are usually the most astute analyst around even if/especially because I agree with you on very little, but you are so dense on this that it’s breathtaking.

The story isn’t that a bunch of GE shareholders finally made a stink at a shareholders meeting (during a year in which GE’s stock has dropped from 48 to 10…duh) – the story is what the hell took so long for this group to get their rage out?

The average GE shareholder with enough stock to bother traveling to a shareholder meeting might reasonably be described as wealthier and more conservative than the average voter (or is that somehow no longer true?), and GE’s impotent and astonishing tolerance of the flaming leftism at their cable news station is nothing short of a scandal.

So, while they bleed money in virtually every division at GE, and the stockholders look at a year end statement showing a drop from $33 a share to $5.73, all while listening to these buttsniffing leftists at MSNBC trashing everything and everyone to the right of Mao, acting as the press office for a socialist, and losing money hand over fist to boot?

No, this isn’t news. The news is that there hadn’t yet been an open revolt against this board for failing to sell NBC a year ago when it was obvious that a coup had taken place there and Marxists were running the show.

Jaibones on April 22, 2009 at 10:07 PM

This right-winged, redneck, tea party gal has blocked MSNBC & NBC from my channel line-up and refuses to buy anything GE.

TN Mom on April 22, 2009 at 9:28 PM

msnbc is channel 120 on my cable lineup. it’s as if comcast has blocked it for me.

angryed on April 22, 2009 at 10:11 PM

msnbc is channel 120 on my cable lineup. it’s as if comcast has blocked it for me.

angryed on April 22, 2009 at 10:11 PM

:)

TN Mom on April 22, 2009 at 10:15 PM

look this isn’t about bias or journalism. this is about letting a woman go on TV. sexism, straight up.

cameo on April 22, 2009 at 10:17 PM

The ratings say it all.

watson007 on April 22, 2009 at 10:21 PM

As a business, you can only argue against shareholders from a position of power. Immelt does not have that luxury any more. MSNBC is dying and leaving behind a rotten smell as it goes. The shareholders have every right to be mad. I hope they continue speaking out against this waste of satellite space.

kingsjester on April 22, 2009 at 10:25 PM

Jenfidel on April 22, 2009 at 8:49 PM

I use the blog to post pictures.

getalife on April 22, 2009 at 8:54 PM

Here is a picture you can add to your blog:

http://www.cuial.com/bo_crap.jpg

izoneguy on April 22, 2009 at 10:31 PM

i respect the commenters here (well, most of you). what would you have me do?

kelley in virginia on April 22, 2009 at 9:01 PM

I’m hanging on to my stock, I too should have gotten rid of it sooner but…oh well. The other divisions such as the locomotive will continue to carry the company for a while. But Immelt has to go, and they need to divest themselves of the losers, but unfortunately no one will buy…except maybe a foreign investor. I feel for the workers in the plants who have given concessions and are still getting laid off, while idiots like Olbermann are raking in the cash.

Deanna on April 22, 2009 at 10:36 PM

Simple,
Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE Boycott GE

TheSitRep on April 22, 2009 at 10:45 PM

i respect the commenters here (well, most of you). what would you have me do?

kelley in virginia on April 22, 2009 at 9:01 PM

I also own some shares (overall a tiny portion of my portfolio). Bought them because Immelt guaranteed the dividend was good. Repeatedly. I despise the company but business wise I think they’re about bottomed.

Don’t let your distaste for the company cost you a lot of money.

BadgerHawk on April 22, 2009 at 10:46 PM

At $5.73, everyone I know was a buyer. The people who bought last year at $33, $30, $28, etc. aren’t nearly so bullish.

They made $18 billion, but 67% of the investors’ equity disappeared.

Jaibones on April 22, 2009 at 10:51 PM

Boycott GE

TheSitRep on April 22, 2009 at 10:45 PM

How on earth do you do that? Do you know what they make? They are an amazing conglomerate. What a scandal that they own a subversive, anti-American media operation.

Jaibones on April 22, 2009 at 10:53 PM

izoneguy on April 22, 2009 at 10:31 PM

Good one.

getalife on April 22, 2009 at 11:00 PM

As usual, Olbermoron overplayed his hand. He had to actually have someone on who insulted not just conservative politicians (like he does all the time), but conservative ordinary citizens. In a just world, this would get him canceled but its not likely.

Speedwagon82 on April 22, 2009 at 11:02 PM

i respect the commenters here (well, most of you). what would you have me do?

kelley in virginia on April 22, 2009 at 9:01 PM

The first thing I would have you do is remember that it doesn’t matter what you paid for the stock; it’s just an investment. Today’s value is based only on two factors:

- what is the tax value of the loss, and
- what do you think the stock will do in the future?

You may have paid $100 a share for it, but it’s at $11 today. If you think it will go down – sell, and buy something that you think will go up. If you think it will go up – hold it.

Screw MSNBC. Don’t sell because of that. Just write the board and assure them that you are lobbying other stockholders to vote against Immelt every chance you get.

Jaibones on April 22, 2009 at 11:15 PM

I don’t get why major shareholders who are just folks (that is, not CEOs, work for the company or who aren’t golfing buddies with said CEOs) sit back and allow these guys to run these companies into the ground, parachute out, etc.

Guess they’re happy as long as they’re making money, too, and figure they can just invest elsewhere if the company goes under and sells off and liquidates?

Dr. ZhivBlago on April 22, 2009 at 11:20 PM

This is indeed sad for the stockholders. I wonder what stockholders over at Time Warner might be thinking.

Travis1 on April 22, 2009 at 11:31 PM

Now if only the same issues would pop up at a Microsoft shareholders meeting, progress might be on the horizon, at least with MSNBC.

MS Vista — world’s largest computer virus… Soon to be eclipsed by 7…

droofus on April 22, 2009 at 11:44 PM

To be honest I think it is generally sad how bad how mainstream media has become all around, not just NBC. Although, NBC has reached a special level of despicable.

terryannonline on April 23, 2009 at 12:08 AM

What a lot of you don’t realize is that it takes a LOT to get the average American really angry.

Most are willing to trust in the process, and trust those we put in power to do the right thing…

It is not until they proove us wrong again and again, the we finaly get fed up, and speak for ourselves…

So for those who say “you can’t speak now, because you did not speak last year?”…. I say that things are WORSE this year… and so people are much more angry.

Romeo13 on April 23, 2009 at 12:37 AM

Sorry,made the mistake of going to getalife’s blog,

HornetSting on April 22,2009 at 9:34PM.

HornetSting: I,as well,was curious to visit!

Nice baby picture,eh!:)

canopfor on April 22, 2009 at 9:40 PM

Had to look also. The blog is about as eloquent as its posts here.

coyoterex on April 23, 2009 at 12:37 AM

I love how conservatives brag about the fox “news” ratings. Its the only “conservative” outlet. Of course its going to do well, the rest of the media is either left or left leaning. Liberals have a lot more options, don’t you ever forget it.

Terry Silver on April 23, 2009 at 1:01 AM

Terry Silver on April 23, 2009 at 1:01 AM

You love being embarrassed over your hubris and zealotry?

Weird.

DWB on April 23, 2009 at 1:21 AM

Between the heat of the campaign and still having Bush to kick around, Olby and co. were more biased then than they are now.

When you are not sure when to use “then” or “than” use both? Ha ha, sorry Allah, I couldn’t resist. Maybe I’m becoming as pessimistic reading you’re posts as you are writing them.

Dollayo on April 23, 2009 at 2:20 AM

The road to serfdom.

the_nile on April 23, 2009 at 2:49 AM

“Why the sudden shareholder crankiness?”

.
Take a look at a one-year GE chart. Its stock price has dropped about 70 percent and it’s trailing the S & P 500 by 20 percent. When a company is not holding its own the stockholders get concerned. They will put up with a lot when the money rolls in, but after taking a 70 percent haircut I’ll say they become cranky. And they may have been at a tea-party too. Being called racist by your incompetent hired help is no fun.

Fred 2 on April 23, 2009 at 3:03 AM

Not sure why the liver does that. Need to get it checked

Yeah,he makes mine hurt sometimes too but I suspect it might be the drinking he’ll drive ya to sometimes :)

jims on April 23, 2009 at 4:14 AM

Sorry,made the mistake of going to getalife’s blog,

HornetSting on April 22,2009 at 9:34PM.

HornetSting: I,as well,was curious to visit!

Nice baby picture,eh!:)

canopfor on April 22, 2009 at 9:40 PM

So, the more vile and disgusting a person is, the more curious we are to see more?

It’s no wonder Olberdouche, Maddow and the rest of the liberal media scum are still in business. I am no more curious about the liberal trolls here than I am a pile of dog crap that shows up in my front yard. It simple needs to be scooped up and thrown out with the rest of life’s refuse.

csdeven on April 23, 2009 at 5:21 AM

Terry Silver on April 23, 2009 at 1:01 AM

See? Here is another piece of human garbage that needs to be tossed on the ash heap.

csdeven on April 23, 2009 at 5:26 AM

what is getalife’s blog?

Frances on April 23, 2009 at 6:16 AM

Do you like my blog?

getalife on April 22, 2009 at 8:44 PM

You seriously have a picture flipping off Bush for the deficit? When Obama is tripling it? In half the time it took Bush to double it?

You brain-dead leftist lemmings are amazing.

P.S. Your blog needs some links to the Sesame Street website. You know, to brighten it up.

Squiggy on April 23, 2009 at 6:35 AM

Its easy to avoid GE products if one reads labels and performs a little research.

Also, spend the money on a single first class stamp and mail the ceo a note. Or email, fedex or priority mail one of those boxes the size of a paperback book with your note in it.

Enough of those and he will get the message. Create a Boycott GE website and list their products and MSNBC sponsors too. OW that will leave a mark!

dogsoldier on April 23, 2009 at 7:02 AM

No, this isn’t news. The news is that there hadn’t yet been an open revolt against this board for failing to sell NBC a year ago when it was obvious that a coup had taken place there and Marxists were running the show.

Jaibones on April 22, 2009 at 10:07 PM

Immelt and Obama have cut a deal. Obama gets good press from MSNBC, NBC and CNBC, and Immelt gets to make Obama’s windmills.

Almost every division of GE is bleeding, except renewable/green energy (mainly wind turbines at this point). Since MSNBC/NBC/CNBC are being used to secure favored treatment in soaring gubmit spending for renewables, whether they can be justified as independent profit centers is beside the point. Renewables are carrying GE, and GE gets its renewables business from Obama. It’s a green bailout, of sorts.

petefrt on April 23, 2009 at 7:15 AM

I watched Olbergoebbels’ rerun last night. He was out two nights to let the “Garafalo” thing blow over. Apparently Olbergoebbels believes his Moonbat audience is stupid enough to have forgotten that anti-American exchange in two days. To draw attention away from his insanity and stupidity, he spent the entire hour of his insane show on the “Torture” witch hunt…

As I was watching the “Propagandist in Chief” it occurred to me that at this point what he is saying in twisting reality so badly is the equivalent of screaming “FIRE” in a crowded movie theatre. I think he’s running out of runway as pertains to the First Amendment. I don’t think Olbergoebbels likes the Bill of Rights so much….He needs to be looked at in a criminal light and appropriate action needs to follow…..

adamsmith on April 23, 2009 at 7:36 AM

So why are we not hearing GE Shareholders demanding Immelt’s immediate resignation as CEO? This is their money that is being thrown down the rat hole by this clown! Why are they allowing him anymore leeway than he already has had? He’s failed in any attempts to turn GE around and he has allowed his own leftist bias to bring down not just GE, but NBC and MSNBC as well.

If I had any stock in GE right now, I would be selling it off as quickly as I could.

pilamaye on April 23, 2009 at 7:43 AM

good morning:

i’m not a computer wiz, but i would like a rt wing “boycott” sight where we could go to see what certain righty groups are boycotting & why.

and thanks for all the advice overnight. you are a good bunch.

kelley in virginia on April 23, 2009 at 7:51 AM

I haven’t done it in awhile but prior to the election I was sending G.E. corporate offices daily e-mails telling them how offensive I found their networks, and how I wasn’t about to support their products any longer.

I thought is was funny that they always responded, and they always said, “Yes thank you, we are aware of how you feel about this, yes, we will pass along your opinion”

I wonder if they got A LOT of complaints like this…

anniekc on April 23, 2009 at 8:02 AM

The corporation is getting hundreds of billions of dollars from the government. Who cares what a few shareholders have to say relative to that?

blue13326 on April 23, 2009 at 8:14 AM

I know I’m pretty far down the old list here, but on my Comcast at home, PMSNBC is on channel 72 (never go there anyway), and when I get to that channel, the digital identifier shows it as ALJAZ? Hmmmmm…. no just who could that be?

HomeoftheBrave on April 23, 2009 at 8:25 AM

This is HATE SPEECH, pure and simple. The liberals decry it and are obssessed by it at the same time. The hate that oozes out of every pore of a liberal’s body is a poison that emanates in their brain. The Garafalos are mentally deranged and those that find comfort in the hate she spews is just as deranged as this pathetic human being has been proven to be.

volsense on April 23, 2009 at 8:42 AM

maybe the silent majority is just tired of being silent.

ctmom on April 22, 2009 at 8:53 PM

I pray you are correct!

trs on April 23, 2009 at 8:50 AM

Of course they are worried about their bank balances–but so what, if it works in our favor.

jeanie on April 23, 2009 at 8:54 AM

Smells like a set up. A glorious one.

Well of course it was and it was stated in the article that O’Reilly had one of his producer, Jesse Waters, buy a share of GM stock so he could attend the meeting and ask the questions.

Mr. O’Reilly really hates Mr. Immelt and seems to have a personal vendetta against him.

JeffinSac on April 23, 2009 at 9:02 AM

As a former long time GE employee I can not stand Immelt or the way this company has turned over the last ten years.
Jack would never have allowed MSNBC to be that left-tilted.

ObamatheMessiah on April 23, 2009 at 9:21 AM

Immelt and Obama have cut a deal. Obama gets good press from MSNBC, NBC and CNBC, and Immelt gets to make Obama’s windmills.

Almost every division of GE is bleeding, except renewable/green energy (mainly wind turbines at this point). Since MSNBC/NBC/CNBC are being used to secure favored treatment in soaring gubmit spending for renewables, whether they can be justified as independent profit centers is beside the point. Renewables are carrying GE, and GE gets its renewables business from Obama. It’s a green bailout, of sorts.

petefrt on April 23, 2009 at 7:15 AM

I know. I’ve been watching this develop and wondering if that division within GE is large enough to make any real impact on their overall business. I fear that it is, and that their collusion could actually work.

But no matter what else, I am certain that any talk of a GE “boycott” by consumers is ridiculous in the face of a deal by Obama to send $100 billion worth of high tech turbine business Immelt’s way. What an amazing scam.

It’s just unbelieveable that Immelt is so in-the-tank that he enables the Marxists at MSNBC and actually had a meeting to clamp down on CNBC, where the on-air investment talent sees Obama as the anti-business socialist that he is.

If Immelt wasn’t a scummy crook, he’d sell off PMSNBC just to avoid the conflict – it obviously loses money and is propped up by NBC’s more mainstream programming. But that would do O’Bonehead much good.

Jaibones on April 23, 2009 at 9:56 AM

Squiggy on April 23, 2009 at 6:35 AM

I would urge you to ignore getadick and little sissy trolls like him, but do as you will. But to your point about the left and the deficit, you’re right on the money.

The part that pisses me off isn’t the partisans of the Marxist left; I expect that from them. But the political center has done the same thing – fiscal conservatives outraged by GOP spending have effectively supported Democrats with their criticism of Republicans, somehow forgetting that if the GOP overspent on a given program, it was still half of what the Marxists wanted to spend.

So you put liberals in office? Our electorate is retarded, and we deserve the horror that we are experiencing.

Jaibones on April 23, 2009 at 10:02 AM

I also am interested in a list of GE products to boycott. Anyone know the best place to get that info?

silvernana on April 23, 2009 at 12:30 PM

GE; The company you dump.

saiga on April 23, 2009 at 12:33 PM

I don’t get why major shareholders who are just folks (that is, not CEOs, work for the company or who aren’t golfing buddies with said CEOs) sit back and allow these guys to run these companies into the ground, parachute out, etc.

Dr. ZhivBlago on April 22, 2009 at 11:20 PM

Most stockholders realize that they don’t own enough shares to challenge a company’s board, which generally lines up enough proxy votes to support its position.

And most investors don’t pay attention to their voting rights, or follow the companies operations on a daily basis.

A lot of corporate problems could be fixed if there was an easy way for shareholders to pool proxy votes. But what company would willingly organize that?

hawksruleva on April 23, 2009 at 1:56 PM

I want to believe this is righteous shareholder fury erupting in grassroots fashion

meh.
FOX plants.
You don’t get it, do you AllahP?
Your memes are not competitive.
Republicans are less popular than Venezuela.
Give up already.

strangelet on April 23, 2009 at 2:38 PM

NoVA is doing ok. The ‘housing crisis’ finished up about the time everyone Upon the Hill was going nuts on the spenderific plans. In the immediate area within a double stone’s throw two homes went up three weeks ago and sold in two weeks, and another went up last week. That’s been the trend for the past few months and the foreclosures that were few (two in that self-same distance, but other homes than those that sold as the foreclosed ones were snapped up in AUG-SEP) was last JUN or so.

Some quieter times at the local malls, a number of smaller stores gone, but a number of new ones coming in. I find it interesting that more restaurants are coming in as none have really disappeared in the last year. It is a very strange market, to say the least, and as the government gets rid of contractors and goes in-house for labor again (reversing the swing to contractors which peaked around 2000) the influx of new, low GS-level employees is shifting things again. Between 2000-2010 half of the federal workforce will have retired and their replacements are coming in as older workers are now waiting for housing values to stabilize before selling off… everyone knows the trend, so just have to wait and see how much of the economy’s legs get shot off from the Administration and Congress.

We will know by JUN-JUL which will make the 4th a very, very interesting time. Summer time off with discontent is not a recipe for a fun time in the fall or winter.

ajacksonian on April 23, 2009 at 2:59 PM

I know. I’ve been watching this develop and wondering if that division within GE is large enough to make any real impact on their overall business. I fear that it is, and that their collusion could actually work.

Jaibones on April 23, 2009 at 9:56 AM

A few newsclips:
GE’s profit is down, but better than expected, Reuters, Ap 17, 2009:

General Electric Co posted better-than-expected quarterly profit, as a strong performance at its large energy operation offset declines at the GE Capital finance and NBC Universal units….
“Energy Infrastructure has been the backbone of growth for the company,” said Daniel Holland, equity analyst at Morningstar in Chicago.

,
GE Renewable Energy Unit Posts Gains Amid Dismal Q4
in Sustainable Life Media, Jan 27, 2009:

Jan. 27, 2009 – General Electric reports that its renewable energy business posted the company’s sole revenue increases in the final quarter of 2008, as overall profits dropped 46%.

GE Energy, which specializes in green energy technologies such as thermal and wind, reported a 15% bump in earnings on a 29% increase in revenues in Q4.

GE’s profits overall slipped 22% in 2008. By contrast, GE Energy posted a profit increase of 27% for the year.

In May, GE reported that revenues for its Ecomagination suite of green products had topped $14 billion.

GE to pump $2 billion more into renewable projects WSJ MarketWatch, Jan 14, 2008:

NEW YORK (MarketWatch) — GE Energy Financial Services said Monday it would boost by $2 billion its purse for stakes in renewable energy projects such as wind, solar, hydro, geothermal and biomass projects to a total of $6 billion by 2010.

GE said it’s targeting more deals after a slew of transactions totaling about $3 billion, including its largest wind investment yet — $300 million for wind farms in four states…

In addition to giving good press for gubmit’s green largesse, Immelt has his networks pounding us relentlessly on the global warming/green energy memes. As Glenn Beck said this morning, they actively color the hard news with the global warming ideology to promote the growth of their renewables business.

It’s a conflict of interest on several levels. I’m looking forward to hearing O’Reilly rip into it on tonight’s show.

petefrt on April 23, 2009 at 4:16 PM

O’Reilly and MSNBC anchor Keith Olbermann have been involved in a running feud for several years, but the pissing match between the two has of late started to envelope other parts of the News Corp. and GE empires

.

Uhm, when has O’Reilly mentioned Olbermann on the air?

GE yes

MSNBC yes

Jeff Zucker yes

Jeff Immelt yes

Olbermann? No

DSchoen on April 23, 2009 at 5:25 PM

After eating peanut butter and jelly sandwiches day after day, the retiree shareholders are now “fed up”.
d1carter

And that lead them to be plugged up till the share holders meeting when they became “un plugged” all over Jeff Immelt

Sorry couldn’t resist

DSchoen on April 23, 2009 at 6:06 PM

I love how conservatives brag about the fox “news” ratings. Its the only “conservative” outlet. Of course its going to do well, the rest of the media is either left or left leaning. Liberals have a lot more options, don’t you ever forget it.
Terry Silver

Okay so explain why, if you can, why CNN, MSNBC, HLN, CNBC ratings COMBINED don’t beat FOX alone.

In other words Fox beats every one of them individually as well as all of them together

DSchoen on April 23, 2009 at 10:01 PM

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