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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Published May 22, 2012 at 5:04 am - 78 Comments
Rachelle commented:
National Socialism at work.
Militant Conservative commented:
Boned again by the WH. What a loser.
Kissmygrits commented:
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.
Gimme a Break, I'm just a Hobbit commented:
Immelt has played Barry like the chump he is. Unfortunately, we taxpayers get stuck with the bill.
Justin commented:
just need another IG with a pair to set up some more Soylandra-esque raids, bring the whole mess down.
Freddy commented:
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!
daryl commented:
I’m sure some number of those millions are safely tucked away in odummers campaign war chest.
Carbon Pootprint commented:
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!!!
Sasja commented:
#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.
Sasja commented:
OT. Just curious, but has Mooshill been getting her nose done?
chillguy33 commented:
Windpower is egregious fraud.
K~Bob commented:
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.
mg4us commented:
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!
Just_Saying commented:
The corruption continues, without real investigation (and no intervention)!
.
President Potemkin commented:
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.
Stan2 commented:
Of course, GE will be returning the money with interest. Right?
aprilnovember811 commented:
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.
Valerie commented:
Hey, look what that Stimulus bought us!
http://www.newgeography.com/content/002420-the-die-hard-recession-heads-off-the-charts
myohmy commented:
Congress should demand for Immelt to return the money. Immelt should just move to China.
Barbarian_At_The_Gate commented:
SCOAMF.
big L commented:
Ehh, Immelt and the rest put their pants on one-leg at a time, Some day they will find that their Karma ran over their dogma.
We have to primary a lot of the Gop. All the house is up for re-election. What posters seems to be saying is that the current congress is a flop and needs to be tossed.
Note that in Nov Dec 2010 the talk was repeal, defund, re-scuttle Obamacare. Now nothing .
So what happened is that the powers that be ginned up Paul Ryan to complete the Social security re-do and said, “sure Paul, bring it out now” and “Now’s the time guy, Lets spring the Thrid -rail
Plan, right now.” It was a distraction because the elites want Obama_care as it gives both sides immense power over us-We the people. Plus great mail-in easy two hunderd thousand a year jobs.
So now every one is talking about SS reform and the ObamaCare which is “trillion”times worse is swept away. Think about it.You hear Nothing on Obamacare now.
Buffalobob commented:
Expand Gitmo and sent these domestic terrorists there for water-bordering. Then we’ll find out who knew what and when did hey know it.
rbosque commented:
The green power initiatives the left wants us to all invest in are nothing but scams like “global warming”. See a pattern?
It’s a transfer of wealth based on over inflated expectations from us to them.
The whole left wing is based on a SCAM! Green power is already heavily subsidized and all these scam artists promise the moon then run off with our money. We are getting ripped off in slow motion and there’s no accountability.
WTFPRESIDENT commented:
GE Sucks…their products are plastic sh*t. We will never ever buy a GE product again, and I will only buy products from companies that haven’t been bailed out by this corrupt administration.
vityas commented:
How much do we have to pay him to resign. It’ll be worth it.
Redwine commented:
What a sad, empty sack of shizz.
Jackson commented:
I see Barrys Apptitude test came back. Right where he belongs
tommy mc donnell commented:
yes for every subsequent sept. 11 the american people should engage in some activity to atone for their sins.
donh commented:
#25 I cannot believe we haven’t offered Obama 25 billion dollars and a lifetime dictatorship over Libya to just go away.
Jones commented:
Hey- I’m starting to get an idea where that $800,000,000,000 went.
SOB_Tea_ Party_ Patriot commented:
Do you remember that Ted Kennedy didn’t like the idea of having an off shore wind farm where it could possibly be seen from his dear Martha’s Vineyard or from their sail boats? Well maybe since the Obama clan is now vacationing there every year, they too don’t want to see it come to the shores of Martha’s Vineyard and old Jeffrey Immelt has assured him they would drop the whole plan. He needs to stay on Obama’s good side to make sure GE continues to get more gov’t contracts and stimulus money. Just saying . . . .
Patty commented:
Dear God, don’t these people have any shame. Heading is spinning.
LibertyAtStake commented:
Translation: Immelt running scared. Looks like he needs to find a new crony capitalist demagogue.
d(^_^)b
http://libertyatstake.blogspot.com/
“Because the Only Good Progressive is a Failed Progressive”
KTWO commented:
When GE lawyers and accountants finally figured out how to keep the money w/o producing anything there was no reason to keep the effort going.
In about a year they can propose an almost identical scheme and again the government will throw money at them.
Bobbi commented:
Well, the Kennedys don’t want their ocean view disturbed and Feinstein don’t want the Mohave Desert’s beauty messed up.
But, dice Jefc isn’tgoing to do it, will he be giving the stimulus money back?
Primrose Princess commented:
This is outrageous! Jeffrey Immelt is the head of Obama’s Econ Dev. Council, and GE should be leading the way in job creation. First they announce moving jobs off shore, and now this?
Immelt should be forced to step down, or be fired, from Obama’s Econ Council, and there should be an investigation on the use of that money. Indeed, the next POTUS should sue GE for that money back, plus damages for failure to deliver. Immelt has abused his position of power and influence for GE’s benefit and should be held accountable.
Contessa61 commented:
Add all that money to the 36 million GE received from the Obamacare slush fund and the fact that they paid ZERO federal income tax, and I would say it pays to be an Obama’s advisor and pal.
jorgen commented:
Well, now he has the 125 millions in his pocket so there is no need to pretend any more.
jorgen commented:
And don’t worry about the 125 millions. I bet 25 million are in Obama’s reelection fund.
tommy mc donnell commented:
how much of the income of the american worker has been wasted on these green jobs projects? its like one big blue sky scam. only now its politicans scamming the taxpayers instead of con men scamming unsuspecting rubes.
Hedgehog commented:
So will GE will be returning that $125 Million? Or has it already been funneled back to the Communists?
chuck in st paul commented:
The wind scam collapses in slow motion. In the mean time the kleptocrats slide out the back door with the loot.
In Eruope they call them subsidy farms.