Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Could GE be Obama's Halliburton?

For all of the carping liberals did for eight years about corporate cronyism in George W. Bush's White House, they seem to turn a blind eye to the same behavior in President Obama's. With plans in place for a major overhaul in the health-care industry, General Electric is positioning itself to become a major beneficiary of these health care reforms.
Recently at the Business and Social Responsibility Conference, General Electric Chief Executive Officer Jeff Immelt referred to America's current economic crisis as part of a "reset" rather than part of an economic cycle, saying, "People who understand that will prosper in the future, and people who don't understand that will get left behind." In the same address, Mr. Immelt, who is also a member of Mr. Obama's economic recovery advisory board, added, "The intersection of government and business will be changed, maybe for a generation."

Answer Question

Asked by grlygrlz2 at 11:31 AM on May. 14, 2009 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (25)
  • In other words, companies should be prepared to beg for a seat at the government's table if they plan on remaining lucrative. Imagine that on the eve of the Iraq war, the CEO of Halliburton had declared that since Sept. 11, 2001, the relationship between the government and corporate interests have become one in the same. Of course, Mr. Immelt's rhetoric about corporate responsibility was undercut last year when GE's once vaunted financial services business, GE Capital, was forced to ask the government for what amounted to a $140 billion government bailout.


    Answer by grlygrlz2 at 11:32 AM on May. 14, 2009

  • Mr. Immelt's words betray GE's willingness to partner with the Obama government in order to turn a profit. To this end, GE has appointed Mr. Obama's former nominee for secretary of health and human services, Tom Daschle, to the board of advisers for Healthymagination, an initiative launched by General Electric in partnership along with Intel, which will invest $6 billion over the next six years on "health care innovation that will help deliver better care to more people at lower cost."

    Mr. Daschle said, "We can only find real solutions in health care when business, government and their partners work together."


    Answer by grlygrlz2 at 11:33 AM on May. 14, 2009

  • The profitability of GE's new venture will depend heavily on the nationalization of the health care industry. The standardization and streamlining of health care recordkeeping, something on which Mr. Obama ran in 2008, would require a massive government contract for the technology to achieve such standardization.
    Mr. Obama has introduced a plan to computerize all health records within five years. Independent studies from Harvard, Rand Corp. and the Commonwealth Fund have estimated that such a plan could cost at least $75 billion to $100 billion over the next 10 years. Healthymagination is readying just such a technology, claiming that they will seek to "increase the use and capability of electronic medical record (EMR) technology and other information technology." With Mr. Obama's ally Mr. Daschle on board, Healthymagination is sure to have more than a leg up on its competition when it comes time to dole out massive contract

    Answer by grlygrlz2 at 11:34 AM on May. 14, 2009

  • Under the cloak of corporate responsibility, General Electric seeks to benefit to the tune of billions from the passage of Mr. Obama's health care reform. On its corporate Web site, Healthymagination admits it will use every tool at its disposal to achieve its goals, including NBC Universal, the parent company of MSNBC which offers nearly uncritical coverage of Mr. Obama and his policies.
    In effect, NBC Universal would become the propaganda arm of the administrations drive for the nationalization of health care, pushing its passage in its print and television properties.
    Healthymagination states its target dates for the completion of its various initiatives as 2015, well into a second Obama term. This means GE will have a deep financial interest in Mr. Obama's re-election; a fact that will no doubt be reflected in its media divisions.

    Answer by grlygrlz2 at 11:35 AM on May. 14, 2009

  • Won't it be interesting to see if the left-wing watchdogs howl, or if they will conclude this is an acceptable level of collusion between the White House and a multinational conglomerate?


    Answer by grlygrlz2 at 11:36 AM on May. 14, 2009

  • I've noticed an awful lot of commercials from them lately, even during the O'reilly spot on Fox News, and nobody goes after GE more than O' reilly. They must have money just pouring in to pay for slots during the top rated cable show forever.

    Answer by akinbottom2 at 11:36 AM on May. 14, 2009

  • It goes way beyond corporate cronyism with Dick Cheney....Its war profiteering. He own 400,000 shares and gets a monthly 13,000 from them and BOOM, they got a NO -BID contract for BILLIONS to work in Iraq...after finding 1.8 BILLION unaccounted for they STILL remained to rake in the BILLIONS....


    Answer by sweet-a-kins at 11:38 AM on May. 14, 2009

  • BTW, you talk or carping...why don't any of you care about Haliburton???

    Answer by sweet-a-kins at 11:38 AM on May. 14, 2009

  • I didn't say I didn't care about Halliburton. I am just saying where are all the liberals crying Cronyism..

    Sweet, why is it that GE takes bailout money but isn't expected to sell off assets like GM, Chrysler, and Merrill Lynch? Why is it that liberals look the other way when their OWN is allowing corporate cronyism?

    Answer by grlygrlz2 at 11:41 AM on May. 14, 2009

  • We, taxpayers are essentially paying for Matt Lauer, Rachel Maddow, Olbermann, and Mathews salary. No wonder they have tingly feelings up their leg for Obama. You don't think that GE should at least have to sell off NBC to raise capital before taking bailout money?


    Answer by grlygrlz2 at 11:44 AM on May. 14, 2009

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.