This coming from a guy whose business depends on government handouts and back scratching. What a corrupt hypocrite. The Jeffrey Immelt’s of the world make me sick.
The Financial Times reported:
Jeffrey Immelt, General Electric’s chief executive, said on Wednesday his generation of business leaders had succumbed to “meanness and greed” that had harmed the US economy and increased the gap between the rich and the poor.
Mr Immelt’s attack on his fellow corporate chiefs – made in a speech at the West Point military academy – is one of the strongest criticisms by a top executive of the compensation and business practices that prevailed before the financial crisis.
But he couldn’t leave it at that. No, the violins had to come out, you know, before revealing what a total scumbag he really is.
“The bottom 25 per cent of the American population is poorer than they were 25 years ago. That is just wrong,” he said. “Ethically, leaders do share a common responsibility to narrow the gap between the weak and the strong.”
GE wants to win a large slice of the infrastructure projects funded by governments around the world in an effort to kick-start their economies.
Mr Immelt said business should welcome government as “a catalyst for leadership and change”.
Mr Immelt also issued a mea culpa over his inabilty to foresee the financial turmoil, which slashed GE’s profits and put its financial arm, GE Capital, under pressure, saying he should have been a better listener.
“I felt like I should have done more to anticipate the radical changes that occurred,” he said.
The last line is the best. As if he didn’t anticipate the “radical changes” and made sure he was in the perfect position to benefit from those “radical changes.”
Note to readers: Stop watching NBC and all of its affiliates, and no matter what, don’t buy any GE products.
Mr. Immelt, after running GE into the ground, kissing up to the Obama administration and now, in front of some of our most promising military minds, disrespects the very system that gave him the opportunity to make what he is today; a very wealthy traitorous hypocrite. He needs to take his place next to the Al Gores’ and Thomas Friedmans’ of the world on the stage of anti-Americanism.
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Jack Welch, we really miss you. I started buying GE stock at $65 a share. Now it is $15. Way to go Immelt,you communist, Capitalism hater.
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Immelt said:
“The bottom 25 per cent of the American population is poorer than they were 25 years ago. That is just wrong,”
No, his premise is wrong.. See here.
If future generations ever do become poorer than their succeeding forefathers it will be precisely due to the “meanness and greed” exhibited by rent seeking corporate parasites like Mr. Immelt.
His whole argument self describes his own intentions (“meanness and greed”) since the result of GE being awarded these contracts is to greedily line their coffers with the profits derived from them.
Get off the public teet and then talk sanctimoniously about “greed”.
The boiler room stock salesman is no less greedy (or mean) than the rent seeking corporate CEO lobbyist.
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Maybe he just meant the ones that own G.E. stock.
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GE has screwed this country for so long that it is pitful. 1913
John Peirpoint Morgan pulls fundin for Nicola Tesla Lab in Long Island. Because the company he help put to together GE wouldn’t be able to make any money of free energy devices that Tesla was working on. Move forward to the 1930s GE helped surpress T. Henry Moray energy device that produce 50KWs of cold electrical power and could have fit on a table from what is called the either which is all around us. GE supported and helped the Russia Communists and the German Nazis prior and during WWII. In fact the Army Air Corp was told not to target GE plants in Germany. Move forward to today GE is caught and fined for trade with Iran after is was banned by the US Govt.
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