They are wearing sweaters in hell tonight because The New York Times and I agree on Iran.
In an editorial last Friday, the paper called for tougher sanctions against the Iranians and hammered those countries that are soft on those killers. As General Petraeus clearly stated last week, Iran is directly responsible for killing and maiming thousands of American troops, and it is the primary reason Iraq remains so chaotic.
In addition, there is no doubt that Iran is developing nuclear capabilities. The very liberal Times recognizes that danger, and so do most sane people.
But General Electric CEO Jeffrey Immelt does not seem to care about the damage Iran is doing to America and the world. As we've reported, Immelt has allowed GE to do business with Iran for years. "Factor" producer Jesse Watters confronted him in Canada.
Now Immelt is parsing the old orders that have continued for years and still continuing. GE says they will cease this year. Great. So how many dead before Immelt gets out of there?
As you may know, GE is failing badly. Analysts describe its latest earnings report, released three days ago, as a disaster. When Immelt took over GE in 2001, the stock price stood at $39.66. Today it closed at $31.75, down 8 bucks in seven years. So GE stockholders have actually lost big money in that time.
Meantime, Immelt receives more than $20 million a year in compensation. Can you believe it? Everybody else gets hosed; Immelt gets wealthy. http://www.foxnews.com/story/0,2933,351332,00.html
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This story makes me want to run out and buy products made by G.E. Besides this, G.E moved most of thier plants to Mexico when NAFTA was signed.
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1 comment:
GE is a great company and has sustained double digit growth for as long as I remember. They are innovators and pioneers and as business channels at times get complicated with Political climates, they are stopping deals with Iran.
Hey Bill, been staying out of trouble, remember to zip it up.
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