Rachel Layne for Bloomberg has a lengthy article about GE's nuclear business, which its chairman Jeff Immelt, was hoping to expand dramatically in India:
General Electric Co. (GE)’s goal of broadening its $1 billion nuclear service-and-parts business with sales of new reactors risks stalling as world leaders reconsider the future of atomic energy.
Governments from Germany, which halted 25 percent of its nuclear-generated electricity, to India, with $175 billion in planned spending by 2030, are reassessing the technology after Japan’s March 11 earthquake and tsunami crippled a power plant and raised the threat of a meltdown.
Immelt is the new head of Obama's team of economic advisers, on which he also sat before he replaced Paul Volcker.
He was among numerous American corporate figures who accompanied Obama on his lavish trip to India after the November elections in 2010.
Watch for GE to make a huge contribution after Obama is out of office to his presidential library.
