Reports today (Hollywood Reporter) indicated drama at the GE Annual meeting today (April 22, 2009) over bias at MSNBC including having microphones cut off.
As members Obama Administration and Democrat Party are fond of saying, “No crisis should be wasted” and this is a perfect one to not waste. As of close of market today, GE’s market cap is approximately $124.61 billion. 50% of its market value is $62.305 billion. A great time to buy control for 1/5th or so of what it would have cost a few years ago. Don’t waste the crisis!
If 1 in 5 non-Obama voters (about 59 million total votes, so 11.8 million) each went out and switched $6000 of their retirement savings from an S&P 500 mutual fund or other stock into GE, that would be more than 50% ownership of the corporation, even assuming no non-Obama voters already own any shares. Bias could then be eliminated via shareholder vote. GE should be standing up for freedom, not bowing to the advocates of government control.
Take back GE for Freedom!
After the meeting Jeff Immelt said “My job is to listen” [to shareholder frustrations]. Actually Jeff, your job is to run the company and protect its franchise.