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GE/NBC Punished Paper for Running Story on Shareholder Meeting

You guys remember that story about a GE shareholders meeting last month in which shareholders (including a Fox News producer) tried to find out if GE or subsidiary NBC-Uni told CNBC to back off criticism of the President.

According to that story, the CEO dodged the questions and then shut down the microphone.

Well, it sounds like first GE and then NBC decided to punish the trade paper that ran the story.

According to my sources inside and outside Nielsen Business Media, The Hollywood Reporter trade publication ran a story dated April 22nd and updated on April 24th covering the "drama" at the most recent GE shareholders meeting in Orlando. THR's West Coast Business Editor Paul Bond wasn't sent to the meeting, but he interviewed about half a dozen people who'd been inside the shareholders meeting and told him what transpired (see below). Bond's THR story focused on the attempts by stockholders and Fox News Channel and other media to find out whether or not GE Chairman/CEO Jeffrey Immelt ordered his news operations to be less critical of President Obama and his policies.

Bond's story was immediately picked up by The Drudge Report under the headline "GE shareholders outraged over MSNBC bias; Microphone cut off." It became a widely posted news story on conservative and liberal and media websites everywhere. That's when, sources inside and outside Nielsen Business Media tell me, GE Chairman Jeff Immelt ordered a GE company-wide ban on all of THR's parent company: advertising, editorial, the works. After a few days, the ban was reduced to GE's NBC Universal against Nielsen Business Media's The Hollywood Reporter and lasted six weeks. (My NBC Universal sources believe the ban was lifted yesterday.)

It's how the game is played. If GE doesn't want media coverage of something, it can bring quite a bit of pressure not to run it. Rump-AOL wishes it could muster as much influence to shut down the Playboy story.

Posted by: Gabriel Malor at 10:30 PM



Comments

1 It's how the game is played. If GE doesn't want media coverage of something, it can bring quite a bit of pressure not to run it.


So, how's that gonna work win the government is a majority share holder?

Posted by: mpur at June 05, 2009 10:33 PM (SkWen)

2 Hey.  Not to worry.  god is on their side.

Posted by: Hussein the Plumber at June 05, 2009 10:34 PM (/+GDy)

3 Vee are in chauj heea and you vill do as you're told.

Posted by: Gen. Burkhalter at June 05, 2009 10:34 PM (LKkE8)

4 We need a bailout.

Posted by: GE at June 05, 2009 10:35 PM (MMC8r)

5 GE, we bring good things to...... STFU if you know whats good for you.

Posted by: Blazer at June 05, 2009 10:37 PM (AoS9J)

6

Don't think this story shocks anyone.

 

Hey, look over here, kids planting a peach tree so their family can eat and singing 'I love Obama' while planting said tree. Without The One, these children would never have learned how to farm, plant trees, steal, dumpster diving, and pulling out their bad teeth with pliers.  I tell ya Keith O, that Obama is one great master, er, president.  All hail the Messiah! 

Posted by: momma at June 05, 2009 10:37 PM (penCf)

7 Is that the Nielsen of the Nielsen ratings?

Posted by: muffy at June 05, 2009 10:39 PM (zplc6)

8 I just want to say that instead of finding mafia tactics repugnant, the world at large seemed to have adopted them unabashedly.  No wonder Guiliani didn't have a chance.

Posted by: muffy at June 05, 2009 10:41 PM (zplc6)

9

Complete Banned SNL Bailout Video
Herbert & Marion Sandler of Golden West S&L
http://podblanc.com/complete-banned-snl-bailout-video

 

Posted by: Lucius Vorenus at June 05, 2009 10:42 PM (MXbNo)

10

Let me see if I can put this in terms that you can understand, Gabe. What GE is doing is just one of many Adventures In Electricity.

Posted by: andycanuck at June 05, 2009 10:43 PM (MB+jN)

11 "Nice publication. Be a shame if something happened to it, eh?"

Posted by: joncelli at June 05, 2009 10:44 PM (vPMF5)

12

I wonder if, in 4 years, many Americans will be squealing like pigs, asking the GOP to 'get us out of this!'

Ah, who am I kidding. They will be totally hooked on shit sandwiches by then.

Posted by: Jones at June 05, 2009 10:44 PM (KOkrW)

13 The real question, who is gonna be our Reagan to save us from this shit?

Posted by: mpur at June 05, 2009 10:46 PM (SkWen)

14 wow, I melt didn't just pick on a "little publication" he probably unleashed a sleeping giant:  "Nielsen Business Media, a part of The Nielsen Company, is a leading market-focused provider of integrated information and sales and marketing solutions, helping businesses go to market more effectively and efficiently.

Serving more than 30 individual industries, spanning entertainment, media and marketing, retail, travel and performance, and design, Nielsen Business Media provides business-to-business products and services in print, online and in person.

With more than 30 publications, over 135 trade shows and conferences, and 200+ digital products and services, Nielsen Business Media offers insight, analysis and face-to-face contacts to help professionals better understand their markets, serve their customers and grow their businesses"  http://tinyurl.com/n4q4hz

Posted by: muffy at June 05, 2009 10:47 PM (zplc6)

15 13 - I'll take Sarah Palin for $800, Alex.

Posted by: Rush Babe at June 05, 2009 10:52 PM (LKkE8)

16 How much does she owe for her family's travel,  noticed a little post somewhere that the deadline to repay is near.  wouldn't it be a nice gesture if Joe Biden paid for the family travel and didn't buy a couple of his $2,400 suits?

Posted by: muffy at June 05, 2009 10:54 PM (zplc6)

17 Interesting how liberals are all really dictators at heart.

Posted by: TheQuietMan at June 05, 2009 11:17 PM (cYFaF)

18 15 - She's working hard to get the old man stink off of her.

I'd like to see Cheney/Palin 2012 stickers just to watch liberal heads explode.

(Cheney can be Dick or Liz, either works for me.)

Posted by: mpur at June 05, 2009 11:18 PM (SkWen)

19

I don't believe this story for a minute.

to find out whether or not GE Chairman/CEO Jeffrey Immelt ordered his news operations to be less critical of President Obama and his policies

How can you be less critical than "sickeningly fawning Obama ass suckers"?

Posted by: Ted K. at June 05, 2009 11:22 PM (FpcoV)

20 Am I the only one who has no problem with this? GE is a private company, and can advertise with or accept advertising from anyone it wants. If they felt that strongly about the coverage, they were well within their rights to cut off THR. That doesn't mean it was the right call from a business standpoint, but they were free to do it.

I have a much bigger problem with it when it is the government cutting back access due to news coverage

Posted by: SHivv at June 05, 2009 11:26 PM (00mcl)

21 Well, looks like Ace won't be getting any more GE money.

Posted by: rdbrewer at June 05, 2009 11:27 PM (gdC4E)

22 "20 Am I the only one who has no problem with this? GE is a private company, and can advertise with or accept advertising from anyone it wants. If they felt that strongly about the coverage, they were well within their rights to cut off THR. That doesn't mean it was the right call from a business standpoint, but they were free to do it.

I have a much bigger problem with it when it is the government cutting back access due to news coverage

Posted by: SHivv at June 05, 2009 11:26 PM (00mcl)"

Actually they are publicly traded company, ticker symbol GE and I'm sure their shareholders will think it was really a dumb move to take on Nielsen.  Plus, they always complained that the tv was bringing them down, tried to sell it several times so, since their programs don't do well as a rule, way to go to piss off Nielsen.    Essentially, CNBC was really starting to get a clue and saying it but suddenly it is all happiness and contentment.  A lot of colloquial evidence supports the story about the meeting. 

Posted by: muffy at June 05, 2009 11:32 PM (zplc6)

23 Another story in which if Republicans had been in the White House and this happened....

Posted by: ricky at June 06, 2009 12:33 AM (muUqs)

24 Remember "Network".  If you don't rent it.

Immelt must think that he's the Ned Beatty character shouting out to the truth seeking newscaster, "YOU HAVE MEDDLED WITH THE PRIMAL FORCES OF NATURE!  There is no Us Government. There is only GM, GE, and AT&T." He must be very proud that of those corporations mentioned in the speech, GE is the lone survivor.  He also has a huge ego complex. 

After 9/11 he was interviewed and essentially said " It was shocking!  I saw two airplanes that I owned and lease with engines that I build crash into two buildings that I insure."  He didn't even bother to say "That GE" or "that we".

I mean, really!


Posted by: jmchez at June 06, 2009 12:38 AM (rZFm0)

25 Is what Immelt did legal?  Oh, sure.

Is it in the best interest of his shareholders?  Probably not.

Is he a sack of shit?  Definitely.

Posted by: mrkwong at June 06, 2009 01:16 AM (G8Eo0)

26

Remember "Network".  If you don't rent it.

"The whole world is becoming humanoid. Creatures that look human but aren't."

"It's too late, Diana. There's nothing left in you that I can live with. You're one of Howard's humanoids. If I stay with you, I'll be destroyed. Like Howard Beale was destroyed. Like Laureen Hobbs was destroyed. Like everything you and the institution of television touch is destroyed. You're television incarnate, Diana: Indifferent to suffering; insensitive to joy. All of life is reduced to the common rubble of banality. War, murder, death are all the same to you as bottles of beer. And the daily business of life is a corrupt comedy. You even shatter the sensations of time and space into split seconds and instant replays. You're madness, Diana. Virulent madness. And everything you touch dies with you. But not me. Not as long as I can feel pleasure, and pain... and love."

"You have meddled with the primal forces of nature, Mr. Beale, and I won't have it! Is that clear? You think you've merely stopped a business deal. That is not the case! The Arabs have taken billions of dollars out of this country, and now they must put it back! It is ebb and flow, tidal gravity! It is ecological balance! You are an old man who thinks in terms of nations and peoples. There are no nations. There are no peoples. There are no Russians. There are no Arabs. There are no third worlds. There is no West. There is only one holistic system of systems, one vast and immane, interwoven, interacting, multivariate, multinational dominion of dollars. Petro-dollars, electro-dollars, multi-dollars, reichmarks, rins, rubles, pounds, and shekels. It is the international system of currency which determines the totality of life on this planet. That is the natural order of things today. That is the atomic and subatomic and galactic structure of things today! And YOU have meddled with the primal forces of nature, and YOU...WILL...ATONE! Am I getting through to you, Mr. Beale? You get up on your little twenty-one inch screen and howl about America and democracy. There is no America. There is no democracy. There is only IBM, and ITT, and AT&T, and DuPont, Dow, Union Carbide, and Exxon. Those *are* the nations of the world today. What do you think the Russians talk about in their councils of state, Karl Marx? They get out their linear programming charts, statistical decision theories, minimax solutions, and compute the price-cost probabilities of their transactions and investments, just like we do. We no longer live in a world of nations and ideologies, Mr. Beale. The world is a college of corporations, inexorably determined by the immutable bylaws of business. The world is a business, Mr. Beale. It has been since man crawled out of the slime. And our children will live, Mr. Beale, to see that . . . perfect world . . . in which there's no war or famine, oppression or brutality. One vast and ecumenical holding company, for whom all men will work to serve a common profit, in which all men will hold a share of stock. All necessities provided, all anxieties tranquilized, all boredom amused. And I have chosen you, Mr. Beale, to preach this evangel."

Posted by: jaleach at June 06, 2009 01:16 AM (gHrZU)

27 "The Hangover"...

Quite possibly the funniest move EVAH made!  (Highly recommended)

Posted by: GregInSeattle at June 06, 2009 02:30 AM (gbGqE)

28 "GE Chairman Jeff Immelt ordered a GE company-wide ban on all of THR's parent company: advertising, editorial, the works."

The first thing they think of, and probably the only thing they think of, is to try to shut somebody up. 
They don't even aspire to shout them down, they have to try to shut them down. 
Refute the accusation?  Nope, gotta shut the other guy up. 
Win folks over to your side of the argument?   Nope, gotta shut the other guy up. 
This is as pathetic as der Olberfuhrer trying to get BO'R embargoed or shunned or whatever he called it. 

SHivv @20 "If they felt that strongly about the coverage, they were well within their rights to cut off THR. "

They were indeed.  And... If they felt that strongly that it would be a Good Idea to try to stifle a rival media outlet, and that nobody would find out, or hold it against them, then they were doing some low-wattage thinking, that day.  But well within their rights, that's true. 


Posted by: Stoop Davy Dave at June 06, 2009 03:36 AM (IseDj)

29 an evening of despair.

renting Network, Idiocracy, and watching the nbc "special" of the white house.

Posted by: free at June 06, 2009 05:05 AM (cFwGO)

30 You'd think, with recent examples, that "too big to fail" was too stupid to believe.  I wonder what Jack Welch really thinks of his successor?

Posted by: MarkD at June 06, 2009 06:43 AM (Du4ND)

31 Jack Welch is a gentleman and a scholar.  Part of a group where character was the lynchpin.

Posted by: muffy at June 06, 2009 07:51 AM (zplc6)

32

If you don't want to f'up your Saturday morning, don't read this post.

Boston paper has put Newt, Rush, O'Reilly in KKK gear.

Conservatives scoffed in April when the Department of Homeland Security warned that the United States could face another wave of homegrown attacks.

Is the murder of abortion doctor George Tiller in Kansas this past weekend the start of a new anti-choice terror campaign? Combine with Tiller's assassination the right-wing outcry over President Barack Obama's restoration of federal money to overseas organizations that perform abortions and there could be serious cause to worry

 

(gateway pundit)

 

AAAHHHH, to be a dum Dem.

Posted by: momma at June 06, 2009 08:09 AM (penCf)

33 CNBC has muzzled criticism of the President. They also have recruited guest commentators that know little about economics or business but simply advocate for the Obama administration-and counterpunch the business people that normally comment.

Santelli and many of the commentators have practical business experience. They are truly speaking about what they know, and are not pontificating with a political agenda.

Economics is the dismal science. Immelt has chosen to turn NBC and all its affiliates into a political apparatus. Thanks to the internet, we can find the truth.

Posted by: jeff at June 06, 2009 08:25 AM (kqw5Z)

34 I'm going long on GE - Immelt is going to expect more from Obama than just a free O-logo'd cum drool bib. 

Posted by: Purple Avenger at June 06, 2009 09:43 AM (M8bZw)

35 Good for GE. Immelt, too.

Posted by: FireHorse at June 06, 2009 09:43 AM (jMk+v)

36 Heh. What's kind of funny is O'Reilly has attacked Neilsen for being a Democrat-supporting company when he didn't like the way some of the ratings were being reported.

Posted by: MayBee at June 06, 2009 10:04 AM (6VC1t)

37

#13 The real question, who is gonna be our Reagan to save us from this shit?

My money is also on Sarah Palin.  Romney may be doing the talk but Sarah Palin is doing the walk.  Romney's sons are nowhere near the military whereas Sarah's son is, not to mention the abortion issue.  Yep, it's Sarah.

Posted by: Lily at June 06, 2009 10:52 AM (1/Zbj)

38

#24 He must be very proud that of those corporations mentioned in the speech, GE is the lone survivor. 

But will they survive Obama?

Posted by: Lily at June 06, 2009 10:58 AM (1/Zbj)

39 #26

Darn, Jaleach!  I was quoting "Network" from memory but having you post the entirety of the speech verbatim really shows that it's even better than I remember.

Thanks.

Posted by: jmchez at June 06, 2009 11:04 AM (rZFm0)

40

But will they survive Obama?

Government Electric. At Government Electric our main concern is power.

Posted by: andycanuck at June 06, 2009 11:26 AM (MB+jN)

41 @ 18: I've been saying Palin/Rice 2012. That should make all the haters heads explode.

@ 25: Immelt is a complete putz. He needs to be run out of town on a rail after being tarred and feathered. He's too far in the sack of making profits at America's expense; ref.: dealings with Iran; promoting Chairman Zero to get electronic health records shoved down our throats, which will make GE Healthcare at least $2B, etc.

@ 31: Jack Welch had integrity, which is sorely lacking in the current crop of C-level folks these days.

@ 40: Government Electric, to go with Government Motors?

Posted by: Smokey Behr at June 06, 2009 12:01 PM (QyeW7)

42

Yes, Smokey, the Government forcing you to buy electric cars made by Government Motors and powered by electricity from Government Electric that uses Al Gore's company's carbon counting software to track its "carbon emissions". (See HotAir's Greenroom for that story.)

Posted by: andycanuck at June 06, 2009 12:10 PM (MB+jN)

43 It's how the game is played. If GE doesn't want media coverage of something, it can bring quite a bit of pressure not to run it.

I'm surprised to see all the complaints here. It is simply an Ayn Randian, lassiez faire gambit. They do it because they have the power to. If you don't like it, pull yourselves up by the bootstraps, seize power and reverse them.

Posted by: RKG at June 06, 2009 12:31 PM (Lsz2a)

Posted by: RKG at June 06, 2009 12:36 PM (Lsz2a)

45 Is this a boycott that runs afoul of the NLRB? FTC? Clayton?

It might be.
But then who would do the investigations?

Of course, those treble damages might do nicely.

Posted by: Nom de Blog at June 06, 2009 01:25 PM (1Bods)

46 "@ 31: Jack Welch had integrity, which is sorely lacking in the current crop of C-level folks these days.
Posted by: Smokey Behr at June 06, 2009 12:01 PM (QyeW7)"

A lot of those guys are teaching and mentoring.  A friend who is taking classes came out the other night and sent us all an email which started with "The way their companies have been run into the ground and tarnished must be eating away at these guys, they must want to swoop in with their sword of integrity and shout you are not worthy to walk in my shoes, look what you have done".  About says it all.

Posted by: muffy at June 06, 2009 03:13 PM (zplc6)

47

If you don't like it, pull yourselves up by the bootstraps, seize power and reverse them.

Like your violent revolution against the Bush Administration, RKG?

Posted by: andycanuck at June 06, 2009 03:52 PM (MB+jN)

48
Ge has decided thats its future is in Cap & Trade. They will run that market.

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