Chickens coming home to roost? I hope so

Liberal groups call for GE’s Jeffrey Immelt to resign from White House jobs council
By Perry Bacon Jr

Two liberal groups Wednesday called for General Electric Chief Executive Jeffrey Immelt to step down as the head of the White House’s Council on Jobs and Competitiveness following a report that GE paid no federal taxes last year despite more than $14 billion in profits.

“One of the chief ways GE avoids paying taxes is by shifting a large portion of its profits overseas,and jobs follow. Now GE’s CEO is the person charged with helping the President create jobs here in America. That’s just perverse, “ the groups MoveOn.org and Progressives United told supporters in an e-mail message.

President Obama tapped Immelt to head the council in January. A story in the New York Times on Friday reported that General Electric avoids U.S. tax liability through a complicated series of financial moves.

You've probably heard about the GE ties to politics from Glenn Beck

But in case you haven't, here is more information from Front Page Magazine.

GE’s Big Brother

by Billy Hallowell

The Obama administration has come under scrutiny for its ties to several large corporations, including the auto industry giants General Motors and Chrysler, whose bailout it engineered last spring. But one corporate connection has not received similar scrutiny. Since 2008, General Electric has been cozying up to the Obama administration. The relationship is sure to result in financial gain for GE, while likely granting the company greater access and influence. The arrangements set forth are legal, but the potential impact the interconnections may have – and the blatant kickbacks that have been offered – should alarm Americans.

Go here to read it all.

the General Electric Political Action Committee

From the Washington Examiner:
Leaked e-mail shows how GE puts the government to work for GE
by Timothy P. Carney

The intersection between GE's interests and government action is clearer than ever," General Electric Vice Chairman John G. Rice wrote in an Aug. 19 e-mail to colleagues.

Rice was calling on his co-workers to join the General Electric Political Action Committee. "GEPAC is an important tool that enables GE employees to collectively help support candidates who share the values and goals of GE."

The full letter suggests that "share the values and goals of GE" really means "support policies that profit the company."

Read it all here.