With Bush's help, GE courts Indian PM

[Eugene]

http://today.reuters.com/investing/FinanceArticle.aspx?type=businessNews&storyID=2005-07-23T144034Z_01_N23617194_RTRIDST_0_BUSINESS-INDIA-USA-NUCLEAR-DC.XML

With Bush's help, GE courts Indian PM
Sat Jul 23, 2005 10:40 AM ET

By Adam Entous

WASHINGTON (Reuters) - Just over an hour after the White House's
surprise pledge to help India develop its civilian nuclear power
sector, the head of General Electric, the American company that
could benefit most from the policy change, sat down for a celebratory
dinner.

The host was President Bush; a few feet away was India's prime
minister, Manmohan Singh, and his top aides. GE Chief Executive Jeff
Immelt, a contributor to Bush's presidential campaigns, had a coveted
seat at the president's table.

Bush's announcement on nuclear trade with India -- followed by a
formal dinner in the State dining room -- was not just a victory for
Singh. For GE, the only U.S.-owned company still in the nuclear
business, it marked a possible turning point in a years-long push to
re-enter the Indian nuclear power market, which it was forced to
leave in 1974 when India conducted its first nuclear test.

<snip>

"This administration's rogue, shoot-from-the-hip move to launch
nuclear cooperation with India puts the interests of industry ahead
of our national security," said Democratic Rep. Edward Markey of
Massachusetts, an arms control advocate.

more...

[HysteryDiagnosis]

1. How quickly we all forget.......

http://www.atimes.com/atimes/South_Asia/EK14Df01.html

Enron's ghost haunts India
By Arun Bhattacharjee

NEW DELHI - With creditors breathing down the government's neck and its reputation as a safe haven for foreign investment at stake, two Indian bureaucrats are trying to salvage what is left of a bust energy plant built by Enron, which went bankrupt spectacularly in 2002 in the United States, leaving behind a cloud of felony charges and outraged creditors.

Once the seventh-largest company in the US, Enron in 1992 was contracted to build a US$2 billion power project on India's western coast, in what was then the largest foreign investment ever made in India. The company had close ties to the administration of President George W Bush, who immediately denied them as Enron collapsed in the US in a welter of charges that it had lied about its profits.

Enron today still stands accused of a range of shady dealings, including concealing debts so they wouldn't appear in the company's accounts. Several company executives have already pleaded guilty and others remain under investigation. When Enron went under, it took Arthur Andersen, one of the world's largest accounting firms, down with it, on charges the accounting firm had condoned or covered up the cooked books.

[liveoaktx]

2. With Bush's help, GE courts Indian PM, nuke sector

http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=OBR&Date=20050723&ID=4986325

Just over an hour after the White House's surprise pledge to help India develop its civilian nuclear power sector, the head of General Electric, the American company that could benefit most from the policy change, sat down for a celebratory dinner.

The host was President Bush; a few feet away was India's prime minister, Manmohan Singh, and his top aides. GE Chief Executive Jeff Immelt, a contributor to Bush's presidential campaigns, had a coveted seat at the president's table.

Bush's announcement on nuclear trade with India -- followed by a formal dinner in the State dining room -- was not just a victory for Singh. For GE, the only U.S.-owned company still in the nuclear business, it marked a possible turning point in a years-long push to re-enter the Indian nuclear power market, which it was forced to leave in 1974 when India conducted its first nuclear test.

"In the short term, it's really business as usual. ... But if things unfold the way it looks they may, then clearly it is a significant opportunity for us," said Peter Wells, general manager of marketing for GE Energy's nuclear business.

[FloridaPat]

3. I thought Pakistan was our good buddy and India was the place we send

programming jobs. I bet Pakistan is very upset with this.

So, any guesses what the real motive is? I doubt Pakistan is going to sit there quietly. Their population is on the verge of overthrowing the government for all the help they've given us.

Sounds like on impeachable bribe to me.

[Joebert]

4. Pakistan is getting plenty of outsourcing work as well.

For some reason a lot of financial/taxes stuff is being sent to Pakistan over India.

I believe a big lot of medical transcriptionists went there too.

It's in big business's best interest to keep Pakistan and India as happy as they can be.