Thursday, April 23, 2009

Jeff Immelt Gets Testy at GE Board Meeting

Jeffrey Immelt took over at GE , parent company of NBC, CNBC, and MSNBC, in 2001 when Jack Welch retired. During his tenure, company stock has dropped nearly 80% and this March GE cut dividends to stockholders by 67%. Never the less, he received $19,591,000 compensation in 2007 and $5,717,469 in 2008. However no mass protests erupted accusing him of running the company into the ground while enriching himself. Instead, Obama acknowledged and rewarded his “expertise” by appointing him to his Economic Recovery Advisory Board.

Yesterday Immelt cut off the microphones of at least two people during the stockholders meeting when they questioned the obvious political slant at MSNBC and CNBC. Others at the meeting also expressed hostility to the one sided “news” from MSNBC, according to The Hollywood Reporter.

And in case you were wondering why those television outlets are so excited about alternative energy, GE has invested heavily in the wind turbine industry but not in drilling or oil.

1 comment:

Anonymous said...

Immelt is a buffoon.