By:
Sarah Leitner
07/11/11 11:32 AM
Protestors chanting "Hey! Hey! Ho! Ho! Cronyism has got to go!" marched during the lunch hour today in front of the U.S. Chamber of Commerce's Washington, D.C. headquarters.
The marchers were protesting the appearance of General Electric CEO Jeffrey Immelt in the chamber's day-long conference on job creation, Jobs for America Summit. Immelt, who is chairman of President Obama's Council on Jobs and Competitiveness, was the event's keynoter.
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By:
Robert Bryce
05/18/11 9:58 PM
ExxonMobil’s Rex Tillerson, 59, and General Electric’s Jeffrey Immelt, 55, are about the same age. They both head iconic U.S. companies. Last year, the two CEOs made about the same amount of money, with Tillerson at $21 million and Immelt at $19.6 million.
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The tension between the Republican establishment and the Tea Party insurgents erupted on the House floor for the first time Wednesday when 110 GOP representatives -- mostly freshmen and some longtime conservative gadflies -- broke from their leadership and most of their caucus in order to kill a defense contract.
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With the highest corporate tax rate in the world, American companies are already at a major disadvantage when they try to compete with foreign competitors. But thanks to loopholes inserted into the tax code by members of Congress in hock to corporate lobbyists, the profits of at least one big American firm is being taxed at a rate ten times the rate .
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"Within the Reagan household, and perhaps in Ronald Reagan's heart," his definitive biographer Lou Cannon writes, "there was an early sense that he was a child of destiny." Certainly there was not much in his family background to suggest that. The 40th president was born one hundred years ago on February 6 in the second floor of a gritty-looking building in Tampico, Illinois.
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"We do big things," President Obama declared in a State of the Union address filled with star-spangled bon mots and sounding at times like a patriotic pep-talk.
"We need to outinnovate, outeducate and outbuild the rest of the world," Obama said, spurring his first standing ovation of the night.
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President Obama at his speech in Schenectady, NY paused to reflect on the financial reforms he signed into law to “protect consumers” and “put an end to taxpayer bailouts.” While he might have stopped taxpayer bailouts, he has no problem with putting taxpayer money on the line in the form of taxpayer funded or guaranteed loans to private companies.
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Buoyed by rising poll numbers and a boost in the nation's financial outlook, President Obama is refocusing on the economy as he prepares to formally announce his re-election bid.
Saying Obama is likely to file papers soon for 2012, White House press secretary Robert Gibbs -- departing the administration to consult for the campaign -- said Obama hopes to build on recent improvements.
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