GE Receives Payback For MSNBC's Glowing Coverage of Obama

Jeffery Immelt has transformed NBC networks, especially MSNBC, into a bastion for liberal superpartisans. Now thanks to a loophole, General Electric is getting "rescued" by a program designed to help the banks:

General Electric, the world's largest industrial company, has quietly become the biggest beneficiary of one of the government's key rescue programs for banks.

At the same time, GE has avoided many of the restrictions facing other financial giants getting help from the government.

The company did not initially qualify for the program, under which the government sought to unfreeze credit markets by guaranteeing debt sold by banking firms. But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE.

As a result, GE has joined major banks collectively saving billions of dollars by raising money for their operations at lower interest rates. Public records show that GE Capital, the company's massive financing arm, has issued nearly a quarter of the $340 billion in debt backed by the program, which is known as the Temporary Liquidity Guarantee Program, or TLGP. The government's actions have been "powerful and helpful" to the company, GE chief executive Jeffrey Immelt acknowledged in December.

Not a bad return on their investment after sacrificing their ratings and occupational integrity showering The One with praise and tingles up their hosts' legs.

GE: Shareholder's Express Their Righteous Anger Over Immelt's Leftward Slant of MSNBC

There was a shareholder revolt at GE as shareholders bombarded those who reign supreme at GE with questions and criticism about how the "thrill that goes up the leg" of MSNBC "embarrasses" their shareholders.

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

"When he got the floor, Waters focused his question about MSNBC on Olbermann's interview of actress Janeane Garofalo, who likened conservatives to racists and spoke of "the limbic brain inside a right-winger."

"He (Waters) was complaining that Olbermann didn't bother to challenge her," another GE shareholder said.

This was sweet to watch. MSNBC has been mailing it in to the left for years. It has only gotten worse. It doesn't matter if it's Olbermann, Maddow, Schulz, or Mathews. They're all liberal cheerleaders for Obama that carriers the water for the Democrats 24/7.

"Any time MSNBC was mentioned, there was a rumbling in the crowd of 400 people," he added.

There is a lot of righteous anger on the part of the shareholders. They are losing financially because of Immelt's incompetence.

He has an obvious bias to the left who was even chosen to be a economic advisor to the president back in February.

Immelt has run GE into the ground not just with their cable TV stations but in all facets of the company. The companies have dropped like a stone over Immelt's "leadership". How does he still have a job? He has to know where all of the skelaton's are buried.

Obama Hearts GE's Immelt

February 6, 2009 2:25PM
Grading The Stimulus Advisory Board: Some Good Picks, Some Bad Picks and Some Clear Conflicts
By Brian Sullivan

Jeff Immelt:  CEO of GE, owner of NBC and its family of media networks. When Michael Bloomberg became Mayor of New York City he put his interest in the company into a blind trust, in part to avoid a conflict of interest with his company’s radio and television operations and his political role.   Immelt will do his network a disservice by being both the CEO of a media company and serving in an official government advisory role. It’s simply too close for comfort. Moreover, GE shares are at a 12 year low, wiped out in part by huge losses at GE Capital, a huge lender during the credit boom. Shareholders cannot be too happy that their CEO is going to be taking time from running their company to serve on this board. Immelt should have politely refused this post. There are many other industrial companies such as United Technologies and Honeywell that represent similar interests but do not have a media operation.


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http://briansullivan.blogs.foxbusiness.com/2009/02/06/gradnig-the-stimulus-advisory-board-some-good-picks-some-big-conflicts/
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My Thoughts

Why should we be taking advice from a man that has ran his company, GE and NBC, into the ground? "GE shares are at a 12 year low", and NBC and MSNBC's rating are abysmal. He should be fired from CEO not made a economic advisor by Obama. The only thing that I can come up with is that he paid for it with campaign contributions and overly friendly media coverage.