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Jeffrey R. Immelt is the ninth chairman of GE, a post he has held since September 7, 2001.
Local CEOs chosen for Obama panel - The Connecticut Post Online (http://www.connpost.com/ci_11665560 - broken link)
Quote:
Immelt and Wolf are good choices for the new board, but Immelt's involvement may pose a conflict of interest with GE's ownership of NBC, CNBC and MSNBC, said Mark Leclair, an economics professor at Fairfield University.
GE stocks:
Oct. 2001 40.08 per share. Last traded 11.62 per share.
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Obama said he has recruited a cross section of experienced leaders, Republicans and Democrats, including veterans of government, heads of private industry and labor union advocates. It is modeled on the Foreign Intelligence Advisory Board created by former President Dwight D. Eisenhower.
"I'm not interested in groupthink," he said. "We want to ensure that our policies have the benefit of independent thought and vigorous debate."
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In a long pretty well managed history of GE this man has managed to pretty much destroy it. I will give him some lee way because of the current crisis but he wasn't exactly rock n' rollin even when the economy was booming (albeit on a false premise)
I can't really imagine he was picked for his financial genius but there is definitely some other possible reason he was chosen. it doesn't seem to me this represents change. This represent Rham Emmanuel style (grab the census) type tactics.
In a long pretty well managed history of GE this man has managed to pretty much destroy it.
I find it interesting that GE stocks follow closely the economic activity in the nation as a hold with lower stock prices in the 2000 -2003 recession, growth and then a downturn matching the overall downturn. Yet despite driving GE "into the ground" Warren Buffet has chosen to invest $3 billion into this solvent company.
Yeah because there were no other economic down turns before that that should have influenced the stock price.
Do you folks have any ability to look at thing any other way than utter unconditional defense. This guy runs a company that owns 80% stock in a major news network and is working for the President of the United States. This doesn't have anything to do with change. This along with all the other garbage that's has happened is clearly same ole same ole. Defend it blindly if you will but it's pure folly.
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