Obama Advised Against Picking Sam Nunn as Running Mate; Former Senator and General Electric Board Member Allowed GE to Do Business with Iran

2008-07-17 11:52:00

    WASHINGTON, July 17 /EMWNews/ -- Democratic presidential

candidate Barack Obama should not select former Sen. Sam Nunn to be his

vice presidential running mate because of Mr. Nunn's support for doing

business with the terrorist state of Iran.

    "Sam Nunn voted to allow the General Electric Company to do business

with Iran despite that the U.S. government had labeled Iran as a state

sponsor of terrorism," said Tom Borelli of Action Fund Management, the

investment adviser to the Free Enterprise Action Fund, a publicly-traded

mutual fund. "Someone who supports doing business with an avowed enemy of

the U.S. has no place in the White House," Borelli added.

    When the U.S. Securities and Exchange Commission questioned GE about

its failure to disclose its business relationship with Iran in its

officials filings, GE responded in a July 14, 2006 letter by stating that,

"The issue of whether to conduct business in certain countries is complex;

we must take into account not only the views of the U.S. Government but all

relevant stakeholders."

    "Sam Nunn agreed with GE's response, and it's appalling that he would

elevate the interests of a terrorist state to the same status as U.S.

national interests," Borelli said. "Who wants a vice president that

considers Iranian President Mahmoud Ahmadinejad to be a GE 'stakeholder'?"

Borelli added.

    "There's also an element of hypocrisy in Mr. Nunn's conduct," observed

AFM's Steve Milloy.

    Mr. Nunn is co-chairman and CEO of the Nuclear Threat Initiative which

says that it is working to reduce the global threats from nuclear,

biological and chemical weapons.

    "While NTI and Mr. Nunn say they are working for a nuclear-free world,

by approving GE's business dealings with Iran, Mr. Nunn is helping to prop

up the Ahmadinejad regime which has avowed to acquire nuclear weapons and

freely talks of the destruction of Israel," said Milloy.

    The FEAOX owns approximately 9606 shares of GE stock.

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