GE Capital CEO "sympathetic" to Wall Street protests

GE Capital CEO "sympathetic" to Wall Street protests

COLUMBUS, Ohio (Reuters) - The head of General Electric Co's finance arm is "sympathetic" to the protesters who have taken to the streets of U.S. cities to decry the nation's financial system, but is not sure what corporate America could do to assuage them.

"People are really angry, and I get it. If I were unemployed now, I'd be really angry too," said Michael Neal, a vice chairman of the largest U.S. conglomerate, who runs its GE Capital unit.

"I am sympathetic to it," he said on Thursday. "Look, I've got a 21- and 19-year-old son, they might march with them. There are a lot of unhappy people right now, and there's not a lot going on that gives you much reason to be inspired."

...

"I don't know what you could do differently," Neal said. "You've got to run your business, right? I don't know that you go just start hiring people that you wouldn't do in the ordinary course. I'm not paid to do that."

http://www.chicagotribune.com/business/sns-rt-us-usa-wallstreet-protests-getre7956nu-20111006,0,1442829.story

so tax cuts are not needed for corporations

create demand by moving money into more hands and the more hands are at the bottom and not the top

:7

I had a conversation with two '1 percenters' last weekend. Both are members of my family. One is a liberal Dem who spends his fortune on GLBT issues, the other is a moderate Republican with lots of ties to Wall St. The liberal didn't have much to say about it. The Republican went on a rant about how the protesters know what's what and that Wall St. is out of control.

http://www.businessinsider.com/general-electric-x-ray-headquarters-china-2011-07

It's nice that Michael Neal makes a great living and that his two sons can get a hot meal and some tuition if they need it, and it's super swell that his sons might even march with the working class....But if Michael is really are sympathetic then insist that your Company pay it's fair share....

"Everyone remembers GE's publicized spat with The New York Times over a piece that said the conglomerate had paid no taxes after making nearly $5.1 billion in profits in the U.S."http://www.businessinsider.com/12-companies-skating-by-barely-paying-anything-in-taxes-2011-6

Interesting.

There is something very wrong with that.

and get off ur tail and invest ur money. Demand accountability from the CEOs you invest in. Stop the layoffs in ur portfolio. Give the workers adequate Heath care and set ur salary to be a mere 5x the average workers

is what I heard on TV. Just like Exxon.

He figured out it's much better to fake sympathy than insult the Occupy Wall Street people. He's trying to deflect attention while the rest of the idiot 1%ers continue to complain and insult the 99%.