Posted on 10/11/2010 3:04:37 PM PDT by jazusamo
Complete title: Obama Administration Gave General Electric—Parent Company of NBC--$24.9 Million in ‘Stimulus’ Grants
The Obama administration gave corporate giant General Electric—the parent company of NBC--$24.9 million in grants from the $787-billion economic “stimulus” law President Barack Obama signed in February 2009, according to records posted by the administration at Recovery.gov.
Despite getting $24.9 million from U.S. taxpayers, GE decreased its U.S.-based employees by 18,000 in 2009, according to the company’s 2009 annual report.
According to Standard & Poor's, GE took in $156 billion in revenue in 2009.
GE was the primary recipient of 14 stimulus grants, a spokeswoman for Recovery.gov confirmed to CNSNews.com. These 14 grants provided GE with $24.9 million in tax dollars. On four additional stimulus grants, the primary recipient of the federal money hired GE as a contractor. Recovery.gov is the administration’s website that tracks stimulus expenditures.
At the end of 2008, GE employed 152,000 U.S. workers, according to its 2009 annual report. But at the end of 2009, according to the report, it employed only 134,000 U.S. workers, a decline of 18,000 workers.
The Energy Department provided GE with 9 stimulus grants, the Department of Health and Human Services provided the company with 3, and the Justice Department and the Commerce Department each gave the company 1 stimulus grant.
All of these federal stimulus grants went to GE’s Global Research Center.
The earliest of the stimulus grants went to GE in July 2009 and the latest in April 2010.
CNSNews.com asked a GE spokesperson if the company contested Recovery.gov’s representation that GE had received 14 stimulus grants worth $24.9 million, and also whether the company now employed more or fewer workers as a result of receiving the grants.
In an e-mail response, GE spokeswoman Anne Eisele said, “I’m afraid I must politely decline to comment.”
What did all the money to GE go for? Recovery.gov posts brief explanations of each grant. For example, the Department of Justice gave GE $999,955 in stimulus money. “The goal of this program,” said Recovery.gov, “is to develop a comprehensive reasoning system for event and scenario recognition for an intelligent video system.”
In addition to the $24.9 million it received in stimulus grants, GE was also awarded $5 million in federal contracts under the economic stimulus law. These contracts were payment for services provided by the company.
Bill O’Reilly’s not gonna be happy about this!
Further confirmation why I never, and will never, buy anything GE.
That’s why NBC’s line up sucks!
Jeffrey Immelt has said as much that this is GE’s new business model.
We’re into a gangster style 3rd world government.
The money flows at the behest of the Baraqqis to influence their self preservation.
But this is pocket change compared to what they did stealing GM from the bondholders at gunpoint, pumping it with tens of BILLIONS and giving it to the UAW.
It’s a far cry from Jack Welch days.
Amen!
The list, ping
Let me know if you would like to be on or off the ping list
Has anyone found out if GE is producing all those cooking stoves Hillary said the US is giving to third world countries?
How much of that flowed right back to Dem candidates? Not to mention the free propaganda on news shows and sitcoms that spout the party line. Even NBC sports is radical left wing.
Explains why Barry received a lengthy interview on the Today show recently. Barry’s purchase was a bargain for a half hour puff piece featuring Matt Lauer tossing softballs.
I hope they all get out and vote.
Yo no comprendo! Donde es mi dinero!
In addition to the $24.9 million it received in stimulus grants, GE was also awarded $5 million in federal contracts under the economic stimulus law. These contracts were payment for services provided by the company
Ay chingala! Es mucho dinero para poco trabajo!
(Brushing up on job search dialect)
I hear you and you’re not far off, IMO.
whats wrong with this country that a president can just toss a much cash as he likes to anyone with no explaination..thats the way all the stimulas money vanished.
They ARE the Military-Industrial-Complex!
As an engineer, I crossed swords with GE several times. It was always 'Leave-or-be-Fired', and I was never wrong, but I left.
The difficulty is that Companies like GE are so interwoven in our Government process, that it's nearly immpossible to remove them - they are part of the Government.
General Electric started RCA, which became NBC back in the '20s, and for those of you that can remember the signature tones of the old radio and TV shows - bum-BUM-bum - those musical notes are actually G E C.
GE is damned near in our DNA.
Somehow, I wasn't surprised when the gummint took over GM.
The light of human creativity will always burn bright, whether it's called Mikoyan-Gurevich, or General Electric.
The trick is to get out from underneath ......................... FRegards
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