12 Mar 2007 Note to GE: When Your Lobbyists are Opposing Each Other, It’s a Bad Sign to Shareholders
Senior Fellow Tom Borelli believes: “by allowing social activists to influence business decisions, CEOs are choosing socialism over capitalism and by doing so; they are undermining the very foundations of our free society.”
Tom is particularly critical of GE’s Jeff Immelt who, he says, wants to reap financial rewards while posing as a Corporate Al Gore. Unfortunately for GE shareholders and the U.S. economy, says Tom, Immelt’s plans are backfiring in a number of ways, and leading to Keystone Kops-type situations in which GE lobbyists at the federal and state levels are working against one another.
Immelt is, however, receiving kudos from environmental groups. Priorities are priorities.