GE Executive’s Exit Shows Limits of Corporate Clout

The recent announcement that General Electric is replacing its CEO and chairman, Jeff Immelt, brought me back to a little-noticed moment at the end of the John F. Kennedy Library Foundation's dinner last month honoring President Barack Obama with its "Profile in Courage Award."
Following President Obama's speech, the chairman of the foundation, superlawyer Kenneth Feinberg, concluded the program with the words, "Ladies and Gentlemen, I thank President Obama for those comments. I thank the ambassador, Caroline Kennedy, for her efforts in helping us prepare and implement this great evening today. And I particularly thank Jeff Immelt, and General Electric, for their leadership in providing this, this evening."