General Electric's Washington Woes Aplenty

General Electric (GE Quote) may be a big player in wind energy, but the political winds are clearly not blowing in its favor.

CEO Jeff Immelt is no fan of certain aspects of the Obama administration's proposed regulatory revamp for the financial industry, according to an internal memo's sent to company employees Monday.

"One proposal in particular, pertaining to the separation of banking and commerce, has led to some media speculation that, if enacted, could require the separation of GE and GE Capital," Immelt wrote. "It is very early in the process, and Congress will now spend months reviewing and drafting legislation. We are certainly opposed to it, since this issue had nothing to do with the financial crisis. We believe many in Congress will have concerns about this provision as well. GE is and will remain committed to GE Capital and we like our strategy. As the president's plan is discussed, you can be sure GE will be actively involved and make our voice heard." ...