Is MSNBC being rewarded for having backed Obama? That's what Jim Pinkerton suggests. On this evening's Fox News Watch, the columnist and New America Foundation fellow cited the news that GE Capital, a subsidiary of MSNBC's parent company GE, has received a $139 billion government loan guarantee.
Host Jon Scott opened this evening's show opened with a clip of Chris Matthews [in a story that NB was first to report], saying that he saw as his "job" making the Obama presidency a success. Pinkerton unloaded.
JIM PINKERTON: Well, Matthews is entitled to his opinion, although if he wants to run for the Senate in Pennsylvania in 2010 as has been widely reported he should resign and not have a platform on the air.
But I think that the overall culture of MSNBC was established when they changed their slogan, post-election, to "The Power of Change" [another story NB was first to report]. Now, that sounds a little bit familiar to the Obama campaign "Change We Can Believe In." Maybe that's not an accident.
But of course, I think the big story here, I think it goes right to what MSNBC's up to as a strategy, is the news that the FDIC, which is now following election returns, is guaranteeing $139 billion of General Electric Capital debt. That's General Electric Capital, as in General Electric, which is the parent company of MSNBC, CNBC, NBC. Now, for a $139 billion guarantee, I'd consider, I'd probably go more, I'd probably go all the way over to the Olbermann/Maddow territory. $139 billion.
The panel got off a good chuckle. But if Pinkerton is right, and news networks are being rewarded for favorable coverage of the incoming administration, we've entered a very bad new era indeed.
Note: Some might ask why the FDIC, still a part of the Bush administration, would reward an Obama-backing network. But Pinkerton suggested that the FDIC has its eyes on the prospects of who will next be in power.
Note Deux: Interviewed by this NewsBuster after the show aired, Pinkerton observed:
I think that MSNBC made a fundamental strategic decision to go left, to let Keith Olbermann re-brand the network. And it worked, big time.
The Wall Street meltdown could not have been foreseen.
But sometimes, one just gets lucky. MSNBC and its sister, GE Capital, and its parent, GE, must be thanking their lucky stars, thinking that "Olbermann-ization" worked out a lot better than they could have managed.
Although I am sure that they also think that they have earned it!
—Mark Finkelstein is a NewsBusters contributing editor and host of Right Angle. Contact him at mark@gunhill.net.
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Comments Policy
What's the big deal? It's
November 15, 2008 - 20:34 ET by ConservativeRexWhat's the big deal?
It's the way things have always been done in Chicago.
The rest of America will just have to get used to it.
Everything that sleazy
November 15, 2008 - 20:42 ET by fitzfongEverything that sleazy network does is to promote another government handout to its underhanded operation. Remember that obnoxious "Green is Universal" campaign last year? They used their own network programming to spout environmentalist nonsense so that they could force us into buying their lousy, mercury-laden, biohazard compact flourescent lightbulbs. I wouldn't buy a GE product if my life depended on it.
"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." -Ronald Reagan
fitzfong.blogspot.com
I had thoughts about this
November 15, 2008 - 20:52 ET by Rob BI had thoughts about this but kept them to meself
reed and ploesi see the o man is running for the senate and vet him
the o man wins reed and ploesi are over joyed and very lib black man that want to be pres they go to the MSM and tell them the the biggest asskisser will get a gov hand out "and dont forget he's black any disent and we'll call you racist
Live Free or Die
hmmmm
November 15, 2008 - 20:52 ET by JillCWMakes sense . . . read my post below . . .
The Media
November 15, 2008 - 20:51 ET by JillCWIs owned and controlled by the money "folks" in the CFR. So, for doing their job and helping the CFR's man get elected, they get a $139 billion "loan," as if they'll ever pay it back. Welcome to The Third Way which spawns a hybrid between capitalism (it looks the same) and socialism (it isn't the same). The Third Way is the brainchild of Adolph Hitler, according to Michael Savage. Need I say more? Welcome to the new Tower of Babel, a.k.a. Nazi America.
The Third Way
November 15, 2008 - 21:18 ET by bigtimerJill...
Exactly right you are...I also have posted about The Third Way before here too...quite a bit ago now...I have been paying attention to this since Clinton was in a speech Blair made back then...anyway...here is a great link about The Third Way and who all is involved in this, it probably may need updating now, but it gets to the nub very well...some of the history you are speaking of too if memory serves me correctly.
Soros anyone...check it out.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
And to think, I trust GE
November 15, 2008 - 23:44 ET by ROTORHEAD77And to think, I trust GE with my life daily! They make the engines in my birds (T700 & T700-701). I have no complaints.
No More GE Lightbulbs Soon
November 16, 2008 - 01:24 ET by stratmanGE is spinning off (selling?) their Lighting business. Don't know what (presumed) foreigner will own the biz or what it will be called.
I do know the iceholes running GE have not spelled out what will happen to pensions, investments, or company stock that workers own.
I do know that GE forbid any transfers by Lighting personel to other divisions in a move to maintain the workforce for the new owner(s).
Of course, workers are free to leave GE and the new business.
Hey GE - Nice job screwing over America... again.
PS - Mercury from those fluorescent bulbs will be polluting America courtesy of ???? (Maybe the same folks from Dubai that wanted American ports?)
Meanwhile, Al Gore gets richer and richer off the AGW scam.
NBC & PMSNBC Propaganda Units For GE
November 16, 2008 - 15:57 ET by Wildcatter1980Since Jeffrey Immelt took over for Jack Welch, GE stock price has pretty much been in steady decline.
Areas they have invested heavily in are the so-called "green" technologies like CFLs. What better way to help push the country to buy into "green" tech than by having your very own propaganda units to hype anthropogenic climate crises that require Americans to do their part to "save the planet" by buying GE CFLs and such? PMSNBC and NBC News can hype this during their news shows. NBC Universal, et al, can get the hype out through NBC's prime time lineup, the USA Network and the Sci Fi Channel.
GE is all for making money. Why do you think they continued to do business with Iran well after it was known they were supporting Iraqi insurgents who were killing American servicemen? Because they did not want to pay the fees/penalties for canceling the contracts with Iran, They much preferred getting the profits from those contracts instead.
This is why I now refuse to buy anything GE makes or avoid using credit cards from their financial unit.
--
Ignorance, our most costly commodity - paraphrased from Rush Limbaugh
This is a bizarre
November 15, 2008 - 20:51 ET by SMGalbraithThis is a bizarre and, frankly, illogical argument by Pinkerton.
Both Matthews and Olbermann (and many others at MSNBC and NBC) have been promoting a liberal/left agenda long before the credit and financial crisis has affected GE. There is simply no connnection financially for the network's leftist tilt (other than the obvious desire to attract more viewers).
To put it differently: Who believes that Matthews and Olbermann et al. are corporate shills promoting an anti-Bush pro-liberal agenda in order to help GE out of its financial difficulties?
Note the comment from
November 15, 2008 - 21:06 ET by Mark FinkelsteinNote the comment from Pinkerton in the Note at the bottom. He acknowledges that MSNBC couldn't have foreseen the Wall Street meltdown and that the network made a conscious decision to go left for marketing purposes. But he also seems to be suggesting that MSNBC is being rewarded ex post fact for its support of Obama.
But he also seems to be
November 15, 2008 - 21:42 ET by SMGalbraithBut he also seems to be suggesting that MSNBC is being rewarded ex post fact for its support of Obama.
Okay, his post-show note clears things up for me. That wasn't there when I made my initial critical comment.
MSNBC/NBC got "lucky" and now they're (perhaps) reaping the rewards.
Rewards through us, the taxpayers (y'know, Paulson/Treasury sure aren't inspiring much confidence, are they?)
Wow...this makes me ill,
November 15, 2008 - 20:51 ET by bigtimerWow...this makes me ill, this seems illegal, this seems wrong, this seems filthy, something smells rotten...blah blah blah...oh yeah...the left has everything to do with it...who could of guessed.
Barf-bag Deluxe time.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Is GE still "honoring"
November 15, 2008 - 20:52 ET by Dan DiegoIs GE still "honoring" their contracts with Iran? Looks like they went all in on Barry and are now taking the pot.
The cost of living's going up, and the chance of livin's going down. - Flip Wilson
...
November 15, 2008 - 21:09 ET by katainkentI said this yesterday!
I want that guys paycheck! ;) (edit: actually thinking about it a moment... under Obama's plan I might get part of his paycheck :D)
member of the Conservative Independant Witness Protection Program since Nov. 5, 2008
GE Capital, a subsidiary of
November 15, 2008 - 21:11 ET by TN MomGE Capital, a subsidiary of MSNBC's parent company GE, has received a $139 billion government loan guarantee.
In the interest of fairness NBC and MSNBC should post this at the top of every newscast and on their websites. Or maybe if we all make large signs and put in our yards...
Stop the press!
November 15, 2008 - 21:37 ET by needleThis is so outlandish the story needs to be quadrupled checked.
And here is another story just as outlandish:
Barack Obama will give East Jerusalem away in exchange for "peace."
The Times Online
http://www.timesonli...
reported, via LGF:
http://littlegreenfo...
This could change the situation like a 10.0 earthquake
Impunitas semper ad deteriora invitat.
needle... I read both
November 15, 2008 - 21:53 ET by bigtimerneedle...
I read both links, plus the comments on LGF...which I concur with.
I just look at the critters that support this plan and it says all I need to know to be against it anyway.
Lord I hope Netanyahu (sp) wins.
....thanks for the info.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
I'm not worried
November 15, 2008 - 21:46 ET by oilcanThere's going to be some strict oversight and ultra-transparent accountability of how GECAP uses our tax dollars, so there won't be any shady shifty shenangins, I have faith.
LOL! Not!
Hmm, makes you wonder doesn't it? MSNBC just redid Olbermouth's contract, nearly doubling his salary and extending his commitment. So, with all the cost cutting at NBC, with their wanting staffers to take voluntary buyouts or get sacked, how can they come up with all this moolah? They must've been banking on the contribution from us woeful taxpayers.
Mark, I read your bio and I can't understand.....
November 15, 2008 - 22:03 ET by Missouri Conservative.....how you managed to attend Marxist universities like Cornell and Harvard and come away un-indoctrinated.
"women and minorities hardest hit"
I actually went through my
November 15, 2008 - 22:06 ET by Mark FinkelsteinI actually went through my college years as a liberal, but gradually began to drift rightward. Living in France during the Mitterand years and seeing socialism up close had a profound effect.
mark
November 15, 2008 - 23:10 ET by TN MomI actually went through my college years as a liberal, but gradually began to drift rightward.
You made the RIGHT choice! hehe!
How are the birds getting along? Do you still have all your fingers?
Were you a politically informed liberal?
November 15, 2008 - 23:29 ET by Missouri ConservativeDid you consciously think about the issues and decide that you agreed with the left-wing point of view? Or did you simply identify as a liberal because of your environment, the media/pop culture, or it "just felt right"?
"women and minorities hardest hit"
Barry
November 15, 2008 - 22:39 ET by iveseenitallWe will never know where Barry got all his money for the campaign. We do know he lied about it from the beginning. So does any of this surprise anyone? This is just the beginning. I predict the most corrupt administration since U.S. Grant. Buckle up, and try not to knuckle under.
NEVER,NEVER trust a "liberal"
Well
November 15, 2008 - 23:05 ET by well99Pretty sick when GE gets their butt covered.This a sad day.
As Astro would say...
November 15, 2008 - 23:39 ET by Karma...we bring grood rings to reicht!
JAAANE! Stop this crazy thing!
No representation, without taxation!
Just wondering
November 15, 2008 - 23:42 ET by Cho Yi Fan"MSNBC's parent company GE, has received a $139 billion government loan guarantee."
I wonder if Chris Matthews got a thrill up his leg when he found out he still has a job!
"A man may be killed but never humiliated."-Shaolin proverb
Woodward and Bern..
November 15, 2008 - 23:47 ET by TheAssessorIf a 21st century Woodward and Bernstein are ever able to get their arms around all this (and live through it) there will be enough convictions to tie up oba'world for generations. Deep throat..?? Hello? Anyone?
It's America, not Omerica
The 21st Century "Woodward and Bernstein"
November 16, 2008 - 00:02 ET by Scout FinchAre alive and flourishing on sites like this and others. But the MSM still holds the power cards. And their theory is -- if they don't report it, it doesn't exist.
Hi Scout
November 16, 2008 - 00:15 ET by TheAssessorSoo true.. It feels like we're standing on the moon shouting out into the void. By the time someone reports the truth, they'll be piping bird sounds to the Amazon desert.
It's America, not Omerica
MSNBC has been a subsidiary of DNC for a long time now
November 15, 2008 - 23:58 ET by riff_raffMSNBC has officially joined NPR and PBS as taxpayer funded susidiaries of DNC, Inc. One can only hope that these manufacturers of liberal propaganda go the same way of other government business enterprises like Freddie Mac and Fannie Mae.
GE taking "Cuts" here?
November 16, 2008 - 00:44 ET by JPR1I'm assuming this FDIC loan is not part of the "Bailout Package".
Has this been in the works for some time? First I've heard about it.
Twenty percent of what's been put up to manage the "mortgage foreclosure crisis"?
It seems to me that
November 16, 2008 - 01:04 ET by JoeBobIt seems to me that Pinkerton's intimation of "reward" of $139B is spurious at best. The $139B is directed at GE Capital and is no more (or less) reprehensible than GMAC getting a financial guarantee for its lending arm. The fact that GE Capital long ago (1993) surpassed GMAC in consumer finance, is one of the largest issuers of private label consumer credit cards, issues commercial paper for the aviation, health, energy, home mortgage, etc. industries, is the primary factor in the $139B guarantee.
Like it or not, NBC Universal (the division of GE to which MSNBC belongs) has posted solid earnings numbers in 2008, despite the leftward lean of MSNBC. 3Q revenues were up 35%, with 3Q profits up 10%. To draw a conclusion that $139B (from the Bush adminstration, no less) is a reward for what is already a profitable venture for GE (though only a minor one, since MSNBC is but a part of NBC Universal, which is but one division of GE, and GE Capital generates 40% of their earnings, anyway) seems delusional to me.
For the other naysayers of GE, in the corporate accountability department, GE has a CGQ (Corporate Governance Quotient) rating better than 77.3% of the S&P 500 and 97.8% of Capital Goods Companies (Yahoo Finance).
For the boycotters, per rotorhead above, GE makes the engines for the Blackhawk, Apache, Sea King, and Super Cobra helicopters, the engines for the F16, F18, A10, F117, B2, and AV-8 jet aircraft, the M61 Vulcan cannon for the F16 and F18, and many other products that preserve and enhance the capability of our military. (8th largest US military contractor, 2003 dollars).
If Pinkerton's going to tar GE, he should find some material that will stick. $139B "reward" for left-leaning media outlets doesn't even begin to gel.
JoeBob
Without recognizing the ordinances of Heaven, it is impossible to be a superior man. - Confucious
GE not the culprit here...
November 16, 2008 - 01:22 ET by JPR1they make terrific jet turbine engines and shitty refrigerators.
The Bush administration has influence over this loan? Show me.
Won't disagree about the
November 16, 2008 - 01:43 ET by JoeBobWon't disagree about the turbines or the frigs. GE's been trying sell Appliances, though.
My point was that the Bush admin, by virtue of running FDIC, has a greater chance of influence than the Obama team. But either influencing a $139B "reward" for left-leaning election coverage is ludicrous. The Bush admin wouldn't and the Obama admin couldn't.
GE signed up for a program offered by the FDIC because it met the requirements and deadline, and because it would positively impact their bottom line. Period. Whether or not it is reprehensible for that kind of money to be tossed around at taxpayer expense is a different issue entirely. But GE did its job for its shareholders.
Without recognizing the ordinances of Heaven, it is impossible to be a superior man. - Confucious
Speaking of shareholders,
November 16, 2008 - 01:56 ET by bigtimerSpeaking of shareholders, them wanting profit and getting the job done, you'd think they would of just got rid of the President of NBC news and msnbc...I think that would be Capus and Griffin...therefore the first three talking heads to go would be Olbie, Matthews, and Maddow....
...talk about losers.
Well, heck, just a thought.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
I dislike the direction
November 16, 2008 - 02:20 ET by JoeBobI dislike the direction that NBC and MSNBC have gone as much as you, but you can't fire those execs for making money, and that's what that division has been doing. The idea of appealing to the rabid left is not a bad idea if you can't break the hold of CNN or FoxNews. Niche markets can work. You can't get a sizable percentage of the whole market, but if you couldn't anyhow, a significant percentage of a smaller market could pay off. The left can't claim that they're not being catered to, and if they show loyalty in return, it ends up a win for GE's earnings. To fault them for being unprofessional journalists is one thing, but of being stupid businessmen is quite another. Losing money via unprofessional journalism ala the NYT is stupid business.
Without recognizing the ordinances of Heaven, it is impossible to be a superior man. - Confucious
Bush Admin running FDIC?
November 16, 2008 - 02:08 ET by JPR1I'm no expert on this stuff but I think the FDIC is just about 20,000 pages of regulations. Congress would be the first in line to influence or control, no? When did GE apply? How many libs on board of directors?
I'm out of juice tonight.
If it's such a great company,
November 16, 2008 - 01:29 ET by IamTinmanWhy do they need a 139Billion bailout?
Just asking!
Why risk your own capital
November 16, 2008 - 01:31 ET by katainkentWhy risk your own capital when you can get govt money for free?
member of the Conservative Independant Witness Protection Program since Nov. 5, 2008
Exactly, kk. You can
November 16, 2008 - 02:08 ET by JoeBobExactly, kk. You can argue whether any bailout at all is just and proper, but once you do it for one entity, how do you exclude any others? GE is just as worthy, by volume of capital in the market, as many banks out there. The fact that GE won't become insolvent for not getting this money is immaterial, since it wasn't a criteria for any other company. Should the Big 3 automakers get a bailout, or just their financing arms? Should the banks? Once you open up the genie bottle of free money, it's darn hard to put a cork back in it. Which is why we and our progeny will be paying for this for generations, and possibly not just in dollars.
As for it being such a "good" company, all I did was counter with facts some of the demonization of this "evil" corporation. Some of the rhetoric I've read on this blog posting and others smacks of the left's smearing of "Big Oil". Calling a spade a spade when it comes to biased media is a worthwhile endeavour. Extrapolating to improbable conclusions tests our credibility.
Without recognizing the ordinances of Heaven, it is impossible to be a superior man. - Confucious
Well, I've long been
November 16, 2008 - 09:22 ET by TailgunnerWell, I've long been wondering how (and why) MSNBC could keep a raving lunatic like Olbermann on the air.
Some have even alleged that Olby has incriminating videos stashed somewhere.
This explains it as well as anything else.
NOLI PUGNARE ME OCCIDERE
I Can See It Now
November 17, 2008 - 17:51 ET by Wildcatter1980BO will have such a rocky term that just like in 1994, enables the Republicans to make big gains in Congress in 2010. As they proceed to make the Messiah's remaining time in office a hell on earth, ol' Bathtub Boy (KayO himself) will resurface as he hides in the tub unable to report on his Chosen One's Presidency going down in flames.
--
Ignorance, our most costly commodity - paraphrased from Rush Limbaugh
LET'S BOYCOTT GENERAL ELECTRIC THIS CHRISTMAS!
November 16, 2008 - 18:47 ET by BrightfameGeneral Electric Corporation acquired NBC (home to the famous Obama-worshipper Andrea Mitchell) in 1986. NBC and Microsoft jointly own MSNBC, the cable channel despised by conservatives for the extreme, shameless pro-Obama coverage of Chris Matthews and Keith Olberman during the past nine months. If there were ever a time to send NBC, MSNBC, and its disgusting parent GE a message, it's this Christmas. When you're out shopping this year, just skip over the GE refrigerators, electric ranges, dishwashers, washers, dryers, microwaves, digital cameras, cordless phones, water purifiers, and lighting products. There are many, many competitors that offer excellent alternatives to EVERY product GE makes -- and you'll have the satisfaction of knowing that not one red-white-and-blue cent of your wealth will be spread to support GE's socialist propaganda outlets, NBC and MSNBC!
in the dark..
November 16, 2008 - 19:12 ET by TN MomGeneral Electric Corporation acquired NBC (home to the famous Obama-worshipper Andrea Mitchell)
I forgot about GE lightbulbs and purchased some yesterday. I'll return them first thing tomorrow!!!
It Seems to Me:
November 18, 2008 - 12:23 ET by nandrelliThat if a "news" organization such as MSNBC is as partisan as it has become (with Olbermann, Maddow, and Matthews, what else could it do?), it no longer fits the definition of "free press", and as a result it should lose any 1st-amdenment rights accorded to the press.
But...
November 19, 2008 - 10:45 ET by Wildcatter1980...sadly, with an administration coming in that will love the favorable coverage that DNCTV/PMSNBC will provide them, that won't happen anytime soon.
--
Ignorance, our most costly commodity - paraphrased from Rush Limbaugh