GE: A Really Great Bet On Big Government

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We’ve called General Electric “a great bet on big government,” as it has monster lobbying clout, and it’s both blue collar and high tech at the same time.

If there was any doubt that GE is a great bet on government, it should be washed away with today’s story in the D.C. Examiner by Tim Carney, who gives us more evidence to support the theory.

Carney highlights a leaked email from GE’s vice chairman bragging about how the company shapes government policy to its benefit:

“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.”

…”On climate change,” Rice wrote, “we were able to work closely with key authors of the Waxman-Markey climate and energy bill, recently passed by the House of Representatives. If this bill is enacted into law it would benefit many GE businesses.”

Most of all, Waxman-Markey would profit a GE joint venture called Greenhouse Gas Services, which deals in greenhouse gas credits, products that have value only if a cap-and-trade bill like Waxman-Markey passes.

Read the whole thing at the D.C. Examiner>>>

 

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