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Obama Administration Gave General Electric—Parent Company of NBC–$24.9 Million in ‘Stimulus’ Grants

Fred Lucas
CNS News.com [1]
Oct 12, 2010

The Obama administration gave corporate giant General Electric—the parent company of NBC–$24.9 million in grants from the $787-billion economic “stimulus” law President Barack Obama signed in February 2009, according to records posted by the administration at Recovery.gov.

Despite getting $24.9 million from U.S. taxpayers, GE decreased its U.S.-based employees by 18,000 in 2009, according to the company’s 2009 annual report.

According to Standard & Poor’s, GE took in $156 billion in revenue in 2009.

GE was the primary recipient of 14 stimulus grants, a spokeswoman for Recovery.gov confirmed to CNSNews.com. These 14 grants provided GE with $24.9 million in tax dollars. On four additional stimulus grants, the primary recipient of the federal money hired GE as a contractor. Recovery.gov is the administration’s website that tracks stimulus expenditures.

Full article here [1]

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