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Although the conglomerate might sell its products in more than 100 countries around the world, there is one nation in which General Electric (GE) decided the costs clearly outweighed the benefits of continuing to do business: Iran.
For many years, GE had done business in post-revolution Iran through foreign subsidiaries, selling energy-related products and health-care equipment, says GE spokesman Gary Sheffer.
General Electric CEO Jeffrey Immelt admits General Electric is doing business with Iran.
Iran has been sending platter charge improvisational explosive devices, also known as Explosively Formed Penetrators, into Iraq that have been maiming and killing American soldiers and marines since I was there in 2005. They have also made continuing and substantial fiscal contributions in support of anti-American and anti-Iraqi forces
Jeffrey Immelt now resides on Obama's 16-member board of economic advisers. In case you aren't familiar with Immelt, he heads General Electric.
What's even more alarming is Immelt and GE love to do business with Iran. Through numerous attempts from the Bush administartion to discourage GE from selling technology to the Iranians (think about what the Iranians accomplished this week), Immelt has allowed GE to do business with Iran for many years. One has to wonder how many GE parts were a part of the rocket and the satellite Iran launched this week. Makes me wonder how many GE parts will propel the first Iranian nuclear missile at the United States. Thank Jeffrey!