GE Decides to Walk the Walk

Yesterday the U.S. Environmental Protection Agency announced that CEO Jeffrey Immelt's firm (GE) and the EPA had agreed on a plan to dredge PCB-contaminated sediment from the Hudson River. Under the agreement's terms, GE will build the required sediment facility and perform the first phase of dredging. That process is slated to begin in spring 2007; the deal calls for GE to pay the government up to $78 million for past and future costs. Immelt's mega-conglomerate has already forked over some $37 million. Next time we see a wind farm proposal that incorporates GE turbines (a business GE bought from Enron) our cynicism can can just go away. Congradulations GE.