Daily Highlights Thursday June 25, 2009

with Jeffrey Immelt
in Business
on Thursday, June 25, 2009 * * * * *

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Daily Highlights Thursday June 25, 2009 with Jeff Immelt, Chairman and CEO of GE

[Watch full episode] (http://www.charlierose.com/schedule/?date=2009/6/25)

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  • Comments 3
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    1. laserman  06/29/2009 12:34 PM Report

      nachtengel, thank you for posting the link on the backstory of GE benefiting from a loophole. "GE Capital won approval to enter the FDIC program in mid-November with support from its regulator, the Office of Thrift Supervision. The company used the government guarantee to raise about $35 billion by the end of 2008. By the end of the first quarter of 2009, the total reached $74 billion, helping to cover the company's 2009 funding needs and about $8 billion of its projected needs for 2010."

      When Charlie R asked Immelt if he received TARP money, he said no. However, he should have gone further and informed Charlie and the viewing audience what did transpire. I have lost a lot of respect for Mr. Immelt. This also puts a cloud over the benefit (if any) of cap and trade, which he aggressively lobbied for.

    2. nachtengel  06/29/2009 03:30 AM Report

      It's starting to become abundantly clear why Mr. Immelt, even with his nervous ticks, seems to smile like a fox in a hen house...

      It seems the tides could be turning against him..

      How a Loophole Benefits GE in Bank Rescue

      Industrial Giant Becomes Top Recipient in Debt-Guarantee Program

      http://www.washingtonpost.com/wp-dyn/content/article/2009/06/28/AR2009062802955.html?hpid=topnews

    3. entreprenuer  06/27/2009 08:57 AM Report

      Congress must stop disincentivizing and burdening those who actually produce. THAT is a large reason why US manufacturing has declined. THAT is a large reason why the US moved to being a services oriented country.

      With mandates on health care, unemployment, workers comp , taxes, regulation etc., insurance (read: trail lawyers and insurance lobby), Congress has driven up the cost of manufacturing so high that it has run American Business out of Business. Instead of more regulation and mandates, there must be incentives and investment.

      China is just hoping Congress passes legislation aimed at taking down existing US manufacturers including "Card Check" and other poorly and hastily crafted (but well intended) legislation.