GE CEO Jeffrey Immelt, the head of Barack Obama’s Economic Advisory Panel, was invited to sit with the First Lady during the president’s speech to Congress this past week. He’s been a strong supporter of the president since he took over the White House and his companies have received plenty of government funds as well.

First lady Michelle Obama (4th L) and Vice President Joe Biden’s wife, Jill, (2nd R) clap from the front row of the First Lady’s Box before the start of President Barack Obama’s address to a joint session of Congress on Capitol Hill in Washington September 8, 2011. Others in the box are: (top row 3rd L- 2nd R) General Electric CEO Jeffrey Immelt, American Express CEO Kenneth Chenault, AOL co-founder Steve Case, Permac Industries CEO Darlene Miller and Maryland Governor Martin O’Malley, and (front row L-R) Philip Maung, Gracey Ibarra, Kelcie Fisher,Obama, Joseph Kidd, Biden and Marlena Clark. (REUTERS/Jim Bourg)

GE was awarded 44 contracts totaling over $46,000,000 and 44 grants totaling more than $79,000,000 from the Obama-Pelosi $757 billion dollar stimulus package. Millions of dollars in stimulus funds were used by GE in green energy projects.

Today GE announced that it was going to gut its offshore wind-power plans.
Forbes reported:

General Electric, the U.S.-based industrial giant and leading manufacturer of wind-power turbines, is scaling back efforts to expand its presence in the offshore wind power market.

The rationale: there is no meaningful offshore wind market to speak of – at least not yet.

Given slower-than-expected industry growth, the offshore market may not mature as rapidly as many wind boosters once believed.

In 2009, GE moved into the offshore market by acquiring Norway’s ScanWind, a developer of direct-drive turbines, based in the city of Trondheim.

GE is considering laying off about 40 employees in Norway as it scales-back its offshore operations there, according to reports in Recharge. The company has also suspended plans to construct a manufacturing facility in the United Kingdom indefinitely.

Immelt also said the stimulus would work way back in April 2009.

 

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  1. National Socialism at work.

  2. Boned again by the WH. What a loser.

  3. Has the wind stopped blowing offshore? GE, not satisfied with creating unemployment in the US has now outsourced this effort to Norway and the UK.

  4. Immelt has played Barry like the chump he is. Unfortunately, we taxpayers get stuck with the bill.

  5. just need another IG with a pair to set up some more Soylandra-esque raids, bring the whole mess down.

  6. No doubt Imelt was one of the people chearing Obama when he said to ‘PASS the BILL’ before he even introduced the bill.

    GE is likely to get another windfall from Obama’s latest stimulus spending binge!

    Which is why Obama wants this bill passed BEFORE it is discussed let alone read.

    Look for the actual bill to be magically initiated by Harry Reid with a demand that it be voted on or the government will be shut down by the evil Tea Partying Republicans!

  7. I’m sure some number of those millions are safely tucked away in odummers campaign war chest.

  8. Thanks for playing Crony Capitalism, please stop by for another pile of free taxpayer money when they PASS THIS BILL. Don’t worry Bernanke who studied the great Effing Depression knows exactly what to do. PRINT MORE BERNANKE BUCKS!!!! YES WE CON!!!! YES WE CON!!!

  9. #4, if you think think The Evil One is a chump, than you’re the chump. He is forging ahead with his plans to destroy our country. These “green jobs” and “green energy” proposals are nothing more than a money laundering scheme. And daryl, I’m sure he has been rewarded handsomely by GE and all the others.

  10. OT. Just curious, but has Mooshill been getting her nose done?

  11. Windpower is egregious fraud.

  12. The only thing actually relevant to “wind” in this entire fiasco is that the wary will stay upwind from these pigs. The “power” part is all political.

  13. The only wind power that has worked until now is the blustering and words that Obama has spoken. . . not worked for generating energy but for generating payola for his cronies and buddies.

    The green in green jobs are the dollars (greenbacks) being pissed away and bankrupting the federal coffers.

    And remember, BEFORE OBAMA destroyed America, Immelt destroyed GE. . driving stock price to less than half and loosing countless jobs.

    Seems Angry Big Mama FLOTUS Moochel is finally proud that the “Evil Destroyers” (Obama, Sorros, Immelt, Pelosi, Reid) are no longer at the gates but running the asylum. . . oh and add Trumka (& Hoffa) to that list!

    Disgusting!

  14. The corruption continues, without real investigation (and no intervention)!
    .

  15. Given slower-than-expected industry growth, the offshore market may not mature as rapidly as many wind boosters once believed.

    Really? Slower-than-expected? Who are these geniuses that predict an unreliable form of enery production wouldn’t grow given the world economy? Who’s going to choose to go without electricity when it gets cold, hot, etc. for the sake of trying to control the earth’s climate.

    Is algore going without heat or conditioned air to “save the planet?” Let’s face it, aldouche and co. want less human beings, period. The @$$hat just wants to choose who deserves to live.

  16. Of course, GE will be returning the money with interest. Right?

  17. I wish people would refer to this “Stimulus” by what it really is, theft. It doesn’t matter if the government steals the money, or embezzles the money. It is what it is, theft. They use votes and a pen, instead of a gun. Unless of course your selling guns to Mexico, so they invade America and kill Americans, right Barry? Right Boehner and McConnell? You guys snuck through another $500 Billion when we weren’t looking, didn’t you?

    “The last official act by any government is to loot the Treasury.” ~George Washington

    I hope I see it, when Karma catches up with all of these people. It will. It always does.

  18. Congress should demand for Immelt to return the money. Immelt should just move to China.

  19. SCOAMF.



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