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Home - by - February 14, 2011 - 18:49 America/New_York - 21 Comments

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From Sad Hill

After GE’s ‘secret’ $16 billion taxpayer-funded bailout while US Government enforced the use of GE mercury-laced light bulbs on American citizens, President Obama called on GE’s chief Jeffrey Immelt to head his economic recovery advisory panel as Obama made ‘special arrangements’ for the upcoming $53 billion in taxpayer funds used to subsidize GE’s construction of a high-speed rail system.

Having spent $5 billion in the past five months on energy-related purchases, today we learn that GE is ‘somehow’ able to cough up another $2.8 billion for the purchase of the John Wood Group – a British oil and energy services firm.

Speaking of ‘oil’, remember Obama dumping BP stock weeks before the Gulf oil spill? Remember when Obama pals Warren Buffet and George Soros started buying Brazilian? HEREHEREHEREHEREHEREHEREHEREHEREHERE, and HERE.

Remember the ‘non-related news’ (according to MSM) of Obama putting a moratorium on Gulf oil drilling while underwriting foreign offshore drilling in Brazil?

And get this, GE chief ‘Jeffrey Immelt’ – yes, the same Jeffery Immelt mentioned earlier – will see that ‘bankrupt’ GE spends ‘up to $30 billion on takeovers in the coming years.’ Of course conveniently-blind mainstream media (including MSNBC which is owned by GE) is crowing about the anticipated ‘GE $ billion spending spree’ as if it was an accomplishment or some measure of GE’s ‘success’:

(Yahoo/Reuters) General Electric Co is to buy a unit of British energy services firm John Wood Group for about $2.8 billion, the latest move by the largest U.S. conglomerate to boost its presence in oil services.

GE’s acquisition John Wood’s well support division raised hopes of more deals in the oilfield services sector, where GE has recently been an active buyer of assets.

GE, which is buying the unit through its oil and gas business, in December agreed to buy Britain’s oil drilling pipemaker Wellstream Holdings Plc for $1.3 billion.

That followed a 2008 deal to buy pressure control equipment company Hydril for $1.1 billion and a 2007 deal to buy privately held oil and gas field equipment maker Vetco Gray.

The U.S. company has said it could spend up to $30 billion on takeovers in the coming years as CEO Jeff Immelt renews GE’s focus on heavy manufacturing after reaching a deal to sell its media unit and scaling back the GE Capital finance arm.

» 21 Comments

  1. My2Cents

    February 14th, 2011

    This guy reeks of corruption. Probably the most corrupt officeholder in the history of the US.

    Noteworthy Comment Thumb up +27

     
  2. JR

    February 14th, 2011

    douchebag..

    Noteworthy Comment Thumb up +14

     
  3. jim

    February 14th, 2011

    Jimmeh Obama all those socialist and Communist,
    you aligned your self with, along with your
    Muslim, progessive polices, will not bring
    this country down. The mideast is going to
    Shiria law and you did it.

    Noteworthy Comment Thumb up +17

     
  4. "Muck Raker Mark"

    February 14th, 2011

    Apparently “Big Business” is OK as long as it’s pwnd by zerO.

    Noteworthy Comment Thumb up +16

     
  5. old_oaks

    February 14th, 2011

    2 years in… You’d think OJT would be over by now.

    So much for Affirmative Action.

    Noteworthy Comment Thumb up +11

     
  6. sileceal

    February 14th, 2011

    Why, oh why, oh WHY is NObody addressing this???? Where are anti-trust laws and the anti-collusion and corruption “police” (aka Congress). Even when this whoring up to Immelt was first announced all we heard–and still hear–are crickets. I’m already starting to lose a lot of the renewed faith I had after November 2010.

    Thumb up +8

     
  7. Drackxman

    February 14th, 2011

    Why isn’t this tool B the Hussein in Prison ?

    Thumb up +9

     
  8. simply amazed by Sarah

    February 14th, 2011

    @ Drackxman – maybe we just aren’t the USA anymore and we are the only ones who don’t know it. Sure as hell hope I’m wrong. Years ago, when there was no doubt who the USA was, these scumsucking bastards would have been arrested, convicted and sentenced to prison at least. Longer ago than that, many of them likely would have been justly executed for treason.

    Thumb up +8

     
  9. Suzsanne

    February 14th, 2011

    I’m surprised Tingles isn’t in the background…he’d be the one with the woodie.

    Noteworthy Comment Thumb up +13

     
  10. Debbie

    February 14th, 2011

    That sissy grin is ….well….

    Thumb up +3

     
  11. FreeMan - Happy V D y'all

    February 14th, 2011

    Here is another 2 cents for you My2Cents, make it 4.

    This is not just corruption but it is criminal – HELLO JUSTICE!!! anyone home???

    Thumb up +4

     
  12. GM Car of the Future

    February 14th, 2011

    I heard Tiger Woods spit on him.

    Thumb up +3

     
  13. Tom Atoe

    February 14th, 2011

    He’s just damn lucky it’s not 1955.

    Thumb up +3

     
  14. Palintine's Day Racist

    February 14th, 2011

    Carter? OJT? Are you kidding? This is WAY WAY WAAAAYYYY beyond incompetence or ignorance or the worst string of unfortunate coincedences in the history of the world… This is plain and simple outright corruption, lying, cheating, stealing and G-D treason! These bastards are looting the treasury and every time they carry out a sack full of money, they bring back in a sack of dynamite and a 5 gal can of jet-fuel! The Weather Underground told that undercover FBI agent in the 70s that the plan was to eliminate 25 million Americans. These are the same people that are in the White House now. None of them have renounced their old ways, in fact Ayers said they didn’t go far enough. I believe the plan is still basically the same, they just have different tactics. These people are a clear and present danger to us all.

    Noteworthy Comment Thumb up +11

     
  15. JaneLovesJesus

    February 14th, 2011

    my head is exploding. even just a fraction of this would qualify him for worst president ever.

    Thumb up +7

     
  16. Pale Male

    February 15th, 2011

    So what are you going to do about this?

    Thumb up +1

     
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  18. Guest

    March 2nd, 2011

    You people need help!

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