They are wearing sweaters in hell tonight because The New York Times and I agree on Iran.
In an editorial last Friday, the paper called for tougher sanctions against the Iranians and hammered those countries that are soft on those killers. As General Petraeus clearly stated last week, Iran is directly responsible for killing and maiming thousands of American troops, and it is the primary reason Iraq remains so chaotic.
In addition, there is no doubt that Iran is developing nuclear capabilities. The very liberal Times recognizes that danger, and so do most sane people.
But General Electric CEO Jeffrey Immelt does not seem to care about the damage Iran is doing to America and the world. As we've reported, Immelt has allowed GE to do business with Iran for years. "Factor" producer Jesse Watters confronted him in Canada.
(BEGIN VIDEO CLIP)
JESSE WATTERS, "FACTOR" PRODUCER: Mr. Immelt, Jesse with FOX News. We'd like to talk to you about your involvement with Iran. Are you still trading with Iran while Iranians are killing Americans in Iraq?
JEFFREY IMMELT, CEO, GENERAL ELECTRIC: Excuse me.
WATTERS: You're not selling them airplane parts that they can be used for military equipment?
(END VIDEO CLIP)
Well, we found it amazing that Immelt denied doing business with Iran when he clearly has. Then a few weeks later, he appeared on CNBC.
(BEGIN VIDEO CLIP)
MICHAEL EISNER, HOST, "CONVERSATIONS WITH MICHAEL EISNER": Iran wants GE technology, and the U.S. government doesn't want American companies to deal.
JEFFREY IMMELT: You know, Michael, we stopped taking orders in a place like Iran in 2005. Most of our customers in Iran were European companies, you know, European oil companies, things like that. So we didn't just go cold turkey. You know, we finished the projects which we started, but we took no new orders.
(END VIDEO CLIP)
Now Immelt is parsing the old orders that have continued for years and still continuing. GE says they will cease this year. Great. So how many dead before Immelt gets out of there?
As you may know, GE is failing badly. Analysts describe its latest earnings report, released three days ago, as a disaster. When Immelt took over GE in 2001, the stock price stood at $39.66. Today it closed at $31.75, down 8 bucks in seven years. So GE stockholders have actually lost big money in that time.
Meantime, Immelt receives more than $20 million a year in compensation. Can you believe it? Everybody else gets hosed; Immelt gets wealthy.
But far worse is the Iran deal. If my child were killed in Iraq, I would blame the likes of Jeffrey Immelt. There's no excuse for his behavior or his incompetence.
Millions of Americans hold GE stock in good faith, but this is a bad company. Doing business with people killing American soldiers and Marines is simply unacceptable. And paying a guy $20 million to run a company into the ground is simply breathtaking.
There are more than a few villain CEOs in this country, but Jeffrey Immelt could well be the worst.
And that's "The Memo."
Pinheads & Patriots
They are building a new Yankee stadium in the Bronx, and a construction guy tried to pull a fast one, as they said back in the '30s. He buried a Boston Red Sox jersey in the construction itself. I guess he was hoping to cast some kind of spell.
Well, Yankee authorities found out about it. The guy was busted. However, Yankee president Randy Levine is donating the shirt to auction to benefit the Jimmy Fund, a Red Sox charity. And for that, Mr. Levine is a patriot.
On the pinhead front, say hello to Dr. Phil. One of his minions bailed out one of the girls charged in a brutal Florida assault on a 16-year-old girl. You remember that last week.
Well, they bailed her out hoping to get her on Dr. Phil's show. And Dr. Phil says he doesn't know anything about it, but by association he's a pinhead, so to speak.