Gee, A Smart Grid! No, GE!

For well over a year, the folks at NBC and it's affiliated news agencies have been cheerleading for Obama to get into the White House. Let's not forget that now-famous remark by Chris Matthews of MSNBC of having a "thrill running up his leg" after having listened to an Obama speech (See Video Story) . In addition, the likes of Olbermann, Brian Williams, Andrea Mitchell, and David Gregory have been just as enamored with Obama.

So, why all this falling all over Obama by the news gang at NBC? Maybe, just maybe, it has a lot more to do with NBC's parent company,General Electric (GE,) and what that company stands to gain from a close relationship with a President Obama. Maybe that is why GE's executives and employees gave most of their $1.35 million in campaign contributions to Obama and other Democrats.

The first evidence of a possible "quid pro quo" was Obama's stimulus package which included $11 billion for a "smart grid" technology to be built into our national electrical power grid system (See Full Story). Estimates are that, ultimately, a "smart grid" for the entire country could cost, at the very least, a half trillion dollars. Some say $2 trillion dollars is the real number. So, who would benefit from all that government spending on a "smart grid" for this country? Maybe, the company that is the primary leader in such a technology. Just maybe, GE! (See Video of Super Bowl Ad).

Another inkling of the building GE/Obama relationship was the appointment of Jeffrey Immelt, the CEO of GE, to Obama's economic advisory team (See Full Story). You've got to wonder why Immelt. He's done nothing for GE since becoming it's operating head in 2001. The stock price has plummeted from near $60 a share, when he took over, to today's $7 a share and some change. This was especially troublesome because the economy was doing so well from 2003 until the housing collapse. So, why put such a poor performing CEO on his economic advisory team? It doesn't make any sense. Now does it? Unless, of course, there's some kind of special relationship there. Certainly, there are a bunch of CEO's out there who have done a lot better over the last 8 years and who seem to be more in tune with economic conditions than Immelt. But, Mr. Obama went specifically with him. Maybe, that's why the a constant joke during the election was that NBC stood for the National Barack Channel!

I'm not saying that the fix is in for GE. But, it just has a way of looking like it. After all, Obama is the guy who was going to change the way Washington is being run. No more quid pro quo with lobbyists and other special relationships. Right? Not from Mr. Obama! Just because GE stands to gain a few billion dollars in profits from "smart griding" America from shore to shore, doesn't necessarily mean that GE is a little tight with Obama. Rrrriiiggght!

Another very interesting read on this topic can be found at this link(See Full Story)

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