According to Bill O’Reilly of Fox News, General Electric, the parent company of NBC, is doing business with Iran.

Iran is listed as a state that sponsors terrorism, and the Pentagon has confirmed that Iranian weapons are being used to kill Americans in Iraq and Afghanistan.

A former NBC correspondent John Hockenberry says that GE continues to do business with Iran.

CEO Jeffrey Immelt said in a statement, “It is unfortunate that John Hockenberry seems to be so far out of touch with reality.  The comments are so utterly absurd; we will have no further comment.”

But then O’Reilly pursues the story and gets a statement from GE, saying it no longer does business with Iran, except fulfilling past contracts and humanitarian stuff.  But O’Reilly finds out that through subsidiaries, GE is working with the Iranian government on hydroelectric, oil and gas, and medical projects.

Perhaps the stockholders saw something here long before the general public, the company’s stock price is now 10 percent lower than it was when Immelt took over from Jack Welch and there is open disenchantment with the leadership.

There are some confusing and disturbing elements to this story.  Why would a US corporation be selling products to a declared enemy of the US?  And, why would our government continue to allow this?  

It also should be noted that according to Hockenberry he received a statement from GE that it had an important, long-standing and valuable business relationship with the Bin Laden Group.

If all of these reportings are true, there is good reason to dump GE stock, it is un-American to sell GE products to individuals or a group that supports terrorism, or, to a country who is a declared enemy of our country resulting in the death of our troops. Furthermore, if you own the stock, it’s gone down 10% since Immelt’s been CEO, so it’s not helping your portfolio.

GE has some explaining to do, and so far it has not been forthcoming with the facts. 

The US government should launch an investigation and the stockholders need to demand some answers.