Bad Business

Our friends at GE are all for "free speech" when they are bashing conservatives (especially former President George W. Bush and former Vice-President Dick Chaney). However, they evidently don't like it at their shareholders' meeting. Any objective observer knows that NBC News in general, and MSNBC in particular, are no longer reporting the news, but are instead spreading leftwing propaganda, which is certainly their right.

However, this doesn't seem to be working, from a business perspective. MSNBC has poor ratings and, more importantly, GE's stock price has fallen from $40.00 per share on September 7, 2001, the date that Jeffrey Immelt became Chairman, to $11.80 as of the close yesterday. That's a 70.5% drop in shareholder value. How does Mr. Immelt still have a job? I'm glad I'm not one of his shareholders!

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