GE Immelt's Stunning Question To Stahl: Why Don't You Want Us To Win?
It was literally a show stopper.
At the end of his "60 Minutes" interview with Lesley Stahl this evening, GE CEO Jeff Immelt asked her: "I don't know why you don't" root for GE, and by extension for American business, the way company employees do? Did Immelt leave Stahl speechless? Rather than providing an answer, 60 Minutes could only cut to its tick-tick-tick stopwatch. View video after the jump.
Watch one of those rare moments in which someone calls a member of the MSM to account.
LESLEY STAHL: Shouldn't American corporations--don't they have some kind of civic responsibilty to create jobs? No?
Right, Lesley: they should commite corporate suicide, becoming uncompetitive by focusing on the over-taxed, over-regulated, articially high-wage American market. Immelt wasn't buying.
JEFFREY IMMELT: My name's not above the door. I work for investors. Investors want to see us grow earnings and cash. They want to see us being competitive. They want to see us prosper.
STAHL: He wishes the public felt the same.
IMMELT: I want you to root for me. Everybody in Germany roots for Siemens. Everybody in Japan roots for Toshiba. Everybody in China roots for China South Rail. I want you to say: win, GE.
STAHL: Do you not see any reason that maybe the public maybe doesn't hold American corporations up here?
IMMELT: I think this notion that it's the population of the US against the big companies is just wrong. It's just wrong-minded. And when I walk through a factory with you, or anybody, you know, our employees basically like us.
STAHL: They do: I saw it.
IMMELT: They root for us. They want us to win. I don't know why you don't.
- Mark Finkelstein's blog
- Login to post comments
Comments
Gotta give him points for honesty.
Submitted by kata on Sun, 10/09/2011 - 8:58pm.
Obama would have us believe that companies exist for the sole purpose of creating jobs. The fact that this guy is our "Jobs Czar" and he's moving jobs to China adds an extra dimension of irony that can make your head explode.
Mr. Immelt, I love capitalism...
Submitted by freedomguardian on Sun, 10/09/2011 - 9:02pm.
but I don't even begin to love or even tolerate crony capitalism:
"Don’t forget, in January President Obama named GE’s CEO Jeffrey Immelt to head Obama’s “President’s Council on Jobs and Competitiveness”, that is supposed to advise on job creation. The only job’s that GE has created are Lobbyists in Washington to make sure they get the most favorable tax laws that they can and accountants to make sure the numbers match the IRS regs that GE lobbied so hard to get so they could EVADE taxes. Don’t forget also that GE plans to “buy” 50,000 Chevy Volts through which they will receive a tax credit of $375,000,00, robbing you of even more of your tax dollars. BTW, GM only sold some 320 Volts last month. Do you Immelt’s purchase is payback to Obama Motors? Don’t forget, GE has the design for “charging stations” that they secured through their relationship to who? Oh yea, Obama…"
--- http://savernation.wordpress.com/2011/03/25/nuttiest-headlines-for-march-25th-welcome-to-the-obama-nation/
Chevy Volt: The Car From Atlas Shrugged Motors
"Crony capitalism is a term describing a capitalist economy in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, and so forth."
--- http://en.wikipedia.org/wiki/Crony_capitalism
"Freedom Guardian": What part
Submitted by Saint Zero on Sun, 10/09/2011 - 9:28pm.
"Freedom Guardian":
What part of that bit you've described is illegal? Far as I know, everything GE does is legal, and is also available to the more common American Taxpayer.
huh?
Submitted by freedomguardian on Sun, 10/09/2011 - 9:49pm.
Where did I use the word illegal?
Crony capitalism is the practice I'm against.
There's nothing illegal about it, but its not a free market capitalism. I expect companies to try to game the system to benefit their business. I don't want government picking winners and losers. Inside deals between companies and politicians are not available to the "common American Taxpayer". Let the free market work and promote competition.
I'm not buying this.
Submitted by pbthinker on Sun, 10/09/2011 - 10:45pm.
Here's Immelt, who ships jobs overseas like crazy, and he asks Stahl that question? For a guy who has the access to Obama that he has, how in hell is he still on a committee and allowing Obama to submit a plant to "create jobs" that is nothing more than a re-election policy with tax increases. How can Immelt claim to be rooting for, U.S. to win and be supporting a guy who is trying to destroy American Capitalism?
The only way that's possible is if Immelt and GE are getting deals we don't know about. Of course they are because they don't overpay their taxes, that's for sure.
End game of capitalism
Submitted by Tjexcite on Mon, 10/10/2011 - 12:11am.
The end game of capitalism is to become a monopoly. It is a forever battle that if government did not pick winners will be at a constant stalemate. Immelt knows how to make government make GE a winner.
The problem lies in who GE got in bed with to make get that government approved advantage. They want government to have the monopoly in the means of production with no investors to answer too. In time It will be Government Electric and no one will know the difference.
Not exactly...give this a read
Submitted by freedomguardian on Mon, 10/10/2011 - 1:21am.
How do you form a monopoly?
Stunning Indictment Of Liberalism
Submitted by chazski on Mon, 10/10/2011 - 12:35am.
Immelt's comment was the last element of the segment and I was stunned that the 60 Minutes editors had left it in. It was a ringing indictment of liberalism's visceral opposition to American success and Stahl apparently had no response, not even a weak denial of the accusation. I strongly suspect that they don't even realize that it was an accusation. I suspect that they feel fully justified in their desire to see American corporations brought low and don't have the intellectual capacity to understand that tens of thousands of American workers would also be hurt.
Screw Immelt.... watch Sarah Palin speech from Friday
Submitted by JamesPhilip on Mon, 10/10/2011 - 1:52am.
I submit a video you have to watch. It is Sarah Palin's speech on Friday night. This is what I consider to be one of, if not the best, speech that Sarah Palin has ever given... especially after her saying no to running for the Presidency.
Question... after you watch it, do you really think any of the Republican candidates could or would be able to make a similar speech. That is why she is not running. She has a bigger mission.... to attack the entire corrupt system and to promote her Conservative principles.
Sarah Palin Unshackled - Defending the Republic - http://tinyurl.com/6bdpfvz
James!
Submitted by Rukus on Mon, 10/10/2011 - 7:12pm.
I think everyone has seen it already! What you are doing is spamming, you can stop now. I'm going at it with a spammer in the forums and at least he changes the topic each time. Stop! We got it!
Sorry Jeff, your arguement
Submitted by LAM SON 719 on Mon, 10/10/2011 - 3:42am.
Sorry Jeff, your arguement doesn't wash GE has supported socialism and crony capitalism and now that there is a chance your socialist overlord will be tossed out you want to be an American again. Do the right thing tell the truth about the green energy scam.
it's very simple
Submitted by spepper on Mon, 10/10/2011 - 8:12am.
It's very simple, Mr. i-Melt-- YOUR company owns a competing network (NBC) to Ms. Stahl's (CBS)-- which happened to benefit from federal stimulus money, thus making YOUR company part of the Obama Administration-- THAT'S why she's isn't "rooting" for YOU!
Needs to be said
Submitted by Optionyout on Mon, 10/10/2011 - 8:27am.
Forget his motives, this is what needs to be said. These interviewers are progressive agenda driven and their motives need to be questioned so everyone can see.
Their motives are obvious as you say-they're progressives.
Submitted by Thalpy on Mon, 10/10/2011 - 9:21am.
"Our" msm are the mortal enemy of our republic.
GE
Submitted by seven on Mon, 10/10/2011 - 8:53am.
GE is Halliburton on steroids
GE WInd is the old Enron wind fiasco. Global warming, gubments subsidies and market manipulators and all. Just rebranded.
Corruption in politics create
Submitted by Dianne93101 on Mon, 10/10/2011 - 12:56pm.
Corruption in politics create people like Jeffrey with the ultimate goal being monopolies that eventually become government-controlled.
I'm glad he's come clean on what his real motives are.
Whom do you mean by "us"...
Submitted by almostacowboy on Mon, 10/10/2011 - 1:04pm.
Mr. Immelt?
60 minutes Stahl and GE
Submitted by jorae on Sun, 10/16/2011 - 12:54am.
I wonder if the collective GASPS could be heard all the way to GE?
It's like a Vampire explaining...I had to kill him, don't you understand, I will die if I don't get that blood!
They are not like us...
The Rich have a 'blind spot' they think of as envy.
He honestly thinks that the American Citizen should give up their jobs so that GE can make more money ... for exectives and people who have enough money to invest in the Stock Market.
Japan has one of the highest corporate tax rates in the world...If I lived in a country where ...due to custom, you would never would be fired, has an excellent infastructre.... inclulding a government 'bullet' train, a governemnt run health and excellent benefits for the old and retirement....I would be happy too..because that money is not just for a few, but for Japan's common good.
And you compare your company to China,,,A communist run, big bucks only going to the people through the government! group, China's population has almost wipped out poverty due to the inport of jobs..and this money is coming from GE who pays China to bring his work their...I would be thrilled ... more so than in they would be in JAPAN...No middle man profits at all...All the money goes to the China common good!!!!
But GE wants to fire, and rehire overseas... and not pay towards any US government public good...they deserve a GREAT BIG BOOOO...G E should be able to see the difference....And he is a CEO?