General Electric CEO Jeffrey Immelt has made nice with President Barack Obama on several occasions. Among other things, he chaired the President's Council on Jobs and Competitiveness, which met a grand total of four times in 2011 and 2012 before it was unceremoniously allowed to expire a year later. He fully expected that his company would benefit from its involvement in green energy and its membership in the U.S. Climate Action Partnership. He also endeared himself to Team Obama by calling "other U.S. business leaders greedy and mean."
In more than a minor comeuppance, as well as the latest evidence that business-related news reflecting badly on the Obama administration almost never escapes the business pages and center-right blogs and outlets, Inmelt's company has seen its medical division hit hard by the onset of Obamacare. Portions of Bloomberg News's original April 17 report follow the jump.