Tag Archives: General Electric

GE MAKES THE SWITCH – FROM OBAMA TO ROMNEY

General Electric president Jeffry Immelt has privately switched his support from Barack Obama to Mitt Romney.  According to Charles Gasperino writing for the New York Post, Immelt, a Republican, thought he could moderate Obama’s anti-business views but has become very disenchanted with the President. A GE spokesman said the idea is ludicrous.  Evidence would say otherwise.

In Immelt’s annual letter to stockholders he wrote:

“We live in a tough era in which the public discourse, in general, is negative . . . American companies, particularly big companies, are vilified,” when “we need to work together to find a better way.”

GE executives contributed more than 300% more to Obama than to McCain in the 2008 campaign.  This time around those GE executives have contributed twice as much to Romney than they have to Obama.

There are things about manufacturing that the guy on the production line knows better than the president of the company.  There are things a well informed voter knows about a presidential candidate that a man who shakes hands with him does not.  If Jeffrey Immelt is disappointed it’s because he was too busy managing GE to see what was obvious from the start to Joe the Plumber.

If Gasperino is correct, it bodes well for the 2012 election.  For if GE, of all companies, has had a change of heart, certainly others have as well.

WHAT FREE MARKETS? NOT HERE.

When Sen. Dick Durbin stood up in the Senate chamber and told the American public not to do business with a bank he didn’t like, he threatened the free market system.  When the President of the United States confirmed and added to the senator’s condemnation, the free market system ceased to exist.

Free is free.  Half free is not free.  What we have is coercive capitalism, a form of fascism where private ownership of the means of production of goods and services is allowed, but where management is not free to follow the dictates of the market.  This, along with crony capitalism has been described by some as the new face of socialism in America.

John Hinderaker at Power Line has written an excellent piece that begins “Nice Bank You Have Here…, a shame if anything should happen to it… The Democrats took gangster government to a new level today…”  It’s an excellent post and falls into the category of required reading.  Don’t miss it.


Socialist leaders have long realized the challenge of establishing the Marxist form of socialism in a democracy like the United States is an insurmountable one.  A strong and prosperous middle class would never willingly accept a government that would appropriate ownership of private enterprise.  The alternatives are to employ force with a violent revolution (a very bad choice) or to allow private ownership but control it.

Control comes in many forms.  Durbin-Obama coercion is just one of them.  Other means of control include appointing czars to oversee various industries, misuse of executive orders, outright flaunting of established law and the passing of bills that are vague, thereby leaving the specifics to be set by the whims of the bureaucracy as dictated from above.  Go along get along becomes a near necessity.  Those who do more than go along, get along even better.  From Solyndra to GE, this is the new face of socialism in America.