Well, that covers lots of territory, but more specifically, Jammie Wearing Fool is referring to this news: “GE Income Plummets 35 Percent.” JWF adds, “All I can say is keep it up with the teabagging jokes, folks, you’re doing a great job driving yourselves into bankruptcy“:
General Electric Co.’s (GE) first-quarter net income fell 35% on continued woes at its financial operations.
Meanwhile, Chairman and Chief Executive Jeff Immelt said estimated stress-test results show the conglomerate won’t need to raise additional capital. Some results of the tests, intended to indicate whether major financial institutions need to raise more capital, are due to be released by the federal government next month.
The stock rose 3.9% in recent premarket action to $12.75 as the quarter’s profit topped analysts’ expectations.
As JWF writes, “Those are some really low expectations. Meanwhile, NBC News continues to hemorrhage. Becoming the Obama News Network apparently isn’t good for business”:
Earnings at GE’s 80%-owned NBC Universal television and movie operation dove 45% while revenue dropped 2% amid a weak advertising market and fewer major DVD releases than a year earlier.
In addition to the “Teabagging” riffs, having Janeane Garofalo appearing on Keith Olbermann to smear the Tea Parties as “racism straight up and is nothing but a bunch of teabagging rednecks. There is no way around that.”
Lloyd Marcus, Joe Hicks, Walter Williams, Thomas Sowell and numerous other black conservative and libertarians could not be reached for comment. [Update: Related thoughts from Right Wing Sparkle — Ed.]
Meanwhile, Dana Milbank of the Washington Post ponders, “why is the left so angry?” He might want to look in the mirror to answer that one; here’s how he appeared on General Electric’s Keith Olbermann show in 2006, when Dick Cheney accidentally winged a member of his hunting party:
Finally, speaking of the cool, crisp, reality-based community, don’t miss Alamo City Pundit’s “Rationalizing, Hateful Mail From College Professor.”
Garofalo, Milbank, Olbermann, and the above college professor might be wise to check out Harry Stein’s new book, I can’t believe I’m sitting next to a Republican!, once it streets in June. Stein is the author who previously wrote How I Accidentally Joined the Vast Right-Wing Conspiracy (and Found Inner Peace). My review copy arrived yesterday, and while I’ve just started reading it, I’m finding it very funny, having lived through many of the same experiences. While I believe frequent PJTV guest Andrew Ian Dodge ultimately approved the book, he had a rather different reaction:
I have to admit I found little to laugh at in this book. It is however an excellent expose of the state of the left in the US. Dogmatic, intransigent, pathetic and obnoxious seems to be their attitude towards anyone not on their “wavelength”. What few know is just like the right in the US in the past, this attitude will undermine them in the end. This book is as much a warning to the reasonable left as it is a description of the experiences of the reasonable right.
Finally, back to GE for a moment. Blogger Tom Borelli of Modern Conservative has a “Call to action, lights out on GE CEO Jeff Immelt”, which includes a petition available for reprinting and submitting to Immelt, with this passage:
I’m writing you to express my deep concern that under your leadership, GE’s business practices are undermining the principles of our free society.
I’m outraged that GE sold infrastructure equipment to Iran – a country that is a recognized state sponsor of terror. Moreover, I’m appalled you defended your business dealings with Iran by saying “The issue of whether to conduct business in certain countries is complex; we must take into account not only the views of the U.S. Government but all relevant stakeholders.”
It’s reckless for you to place your short-term business interest ahead of our national security.
I’m troubled by your use of GE’s considerable lobbying resources to expand the growth and influence of government over my life. Specifically, GE is supporting so-called cap-and-trade legislation that would increase energy prices, increase job losses and result in slower economic growth. In addition, the legislation would lead to a massive government bureaucracy and loss of individual freedom.
I’m concerned that you are using GE’s media empire to manipulate public opinion. NBC News and MSNBC are slanted to favor the left-wing political agenda and network programming is skewed to promote – without attribution – GE’s “green” business goals.
I covered several of these items in my “Rendezvous With Scarcity” video in February. Check it out here, if you haven’t seen it yet.