General Electric sabotage

General Electric sabotage

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“ Soon: too late to protest”

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#1 Nov 9, 2012

“ Soon: too late to protest”

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#2 Nov 9, 2012
Emerging Corruption
Eternal vigilance is the price of liberty
GE Stabs the US in the Back
In 2011, Jeffrey Immelt, the CEO of GE and the chairman of President Obama’s “Jobs Council” is eliminating jobs for American employees of GE at a furious pace. To add insult to injury, in 2010
GE paid no federal taxes at all despite worldwide profits of $14.2 billion. GE claimed a tax benefit of $2.3 billion.

From an America corporate icon to an American disgrace, GE epitomizes how federal policies, cronyism, and rent seeking is destroying America from within by avoiding taxes and shipping jobs overseas. Keep in mind, none of this is illegal. It is, however, unconscionable.
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“ Soon: too late to protest”

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#3 Nov 12, 2012
Emerging Corruption
Eternal vigilance is the price of liberty
GE Stabs the US in the Back

In 2011, Jeffrey Immelt, the CEO of GE and the chairman of President Obama’s “Jobs Council” is eliminating jobs for American employees of GE at a furious pace. To add insult to injury, in 2010
GE paid no federal taxes at all despite worldwide profits of $14.2 billion. GE claimed a tax benefit of $2.3 billion.

From an America corporate icon to an American disgrace, GE epitomizes how federal policies, cronyism, and rent seeking is destroying America from within by avoiding taxes and shipping jobs overseas. Keep in mind, none of this is illegal. It is, however, unconscionable.

“ Soon: too late to protest”

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#4 Nov 12, 2012
GE whistle-blower complaints
http://www.topix.com/forum/topstories/T4NDMKH...
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#5 Nov 12, 2012
A recent article at TheEconomicCollapseblog.com took a look at the way GE is “moving jobs and economic infrastructure to China at a blistering pace.”
For example,“GE makes more medical-imaging machines than anyone else in the world and now GE has announced that it is ‘moving the headquarters of its 115-year-old X-ray business to Beijing.”
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#6 Nov 14, 2012
The article notes that,“Under Immelt, GE has shipped tens of thousands of good jobs out of the United States.”

Even the liberal learning Huffington Post reported that “As the administration struggles to prod businesses to create jobs at home, GE has been busy sending them abroad.

Since Immelt took over in 2001, GE has shed 34,000 jobs in the U.S. according to its most recent annual filing with the Securities and Exchange Commission. But it has added 25,000 jobs overseas.”
“At the end of 2009, GE employed 36,000 more people abroad than it did in the U.S. In 2000, it was nearly the opposite.”

“ Soon: too late to protest”

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#7 Nov 15, 2012
The last GE factory in the U.S. that made light bulbs closed last September. This came on the heels of the federal government’s ban on the 100-watt incandescent light bulb and its push to require Americans to purchase the new CFL light bulbs as part of Obama’s green jobs initiative. The CFL bulbs have been universally denounced as providing less equivalent light, costing more, and using mercury as part of their manufacture.

When John Rice was appointed GE’s head of global operations, responsible for growth in markets that include China, India, the Middle East and Brazil, the Huffington Post revealed that GE planned to spend $500 million on research and development and new customer innovation centers in China, adding more than a thousand jobs there.“More than $1.5 billion is expected to be put toward joint ventures with Chinese state-owned enterprises in high-technology sectors.”

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#8 Nov 15, 2012
At the same time, Daily Finance.com revealed that GE “is arming China to compete with Boeing—and America.” Peter Cohen that “General Electric plans to sell its aircraft electronics to Chinese companies” noting that China just flight-tested a prototype stealth fighter” as it continues to build up its military. GE is selling technology “it developed for U.S. companies like Boeing to Boeing’s Chinese competitors.”

“America is being de-industrialized at lightning speed and very few of our politicians seem to care,” says The Economic Collapse blog while noting that in 1979 there were 19.5 million manufacturing jobs in the United States and today there are 11.6 million.
“The United States has lost a staggering 32% of all its manufacturing jobs since the year 2000.”

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#9 Nov 15, 2012
Think about what you're supporting when you buy a GE product, including their applying for their credit.

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#10 Nov 16, 2012
While President Obama berates the Congress for the lack of free trade agreements, he neglects to say that several such agreements with Latin American nations linger on his desk and none can be acted upon by Congress until he sends them for approval.

While Jeffrey Immelt flies around in his corporate jet and issues vacuous, hypocritical statements about jobs for Americans, he and his close friend in the White House are undermining the economy.

Other U.S. corporations are following suit.
The U.S. corporate tax is the highest in the world, but you will not hear any talk of lowering this tax rate, only meaningless class warfare blather about taxing “millionaires and billionaires” more when, in truth, those taxes will fall heaviest on small business owners.

This is the deliberate destruction of the U.S. manufacturing sector.

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#11 Nov 20, 2012
GENERAL ELECTRIC OWNS NBC, and their Cable News network MSNBC…

the General Electric company ALSO recieved OVER 100 BILLION DOLLARS of TAX-PAYER bail-out money from the Obama administration...

…GE financial services have NO regulatory oversite commitee and virtually NO transparency
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#12 Nov 20, 2012

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#13 Nov 21, 2012
General Electric to pay $23.4m over 'oil-for-food' corruption charges

The scandal, in which the SEC says some $3.6m was paid in kickbacks to win medical equipment contracts with the Iraqi health and oil ministries, involved not just divisions of GE but also two healthcare companies it has since acquired, including the British company Amersham.
According to charges laid by the Securities and Exchange Commission yesterday, Amersham made $5m in wrongful profits from nine Iraqi government contracts, for which it paid $750,000 in bribes…
Ionics, which was also acquired by GE, won contracts to supply water purification equipment in Iraq thanks to bribery, the SEC charged. And two of GE's European subsidiaries, Marquette-Hellige and OEC-Medical Systems, were also involved in the scheme.

The revelation of widespread corruption under the oil-for-food programme, which had been designed to ease the humanitarian burden of sanctions on the Saddam Hussein regime, severely tarnished the United Nations.
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#14 Nov 21, 2012

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#15 Nov 22, 2012
Washington Post

GE to settle SEC charges of foreign bribery

General Electric agreed to pay $23.4 million on Tuesday to settle a Securities and Exchange Commission complaint, which alleges that GE bribed Iraqi government officials to win contracts to supply medical and water-purification equipment under the U.N. oil-for-food program.

This Story
After financial bill battles, SEC reaches out
GE agrees to settle with SEC on charges of foreign bribery
The SEC alleges that two GE subsidiaries and two companies that the conglomerate later acquired paid $3.6 million in kickbacks to the Iraqi Health Ministry and Iraqi Oil Ministry for valuable contracts. The bribes, which are illegal under the Foreign Corrupt Practices Act, came in the form of cash, computer equipment, medical supplies and services, the SEC said.

"Bribes and kickbacks are bad business, period," said SEC Enforcement Director Robert Khuzami in a statement. "This case affirms that law enforcement is active across the globe -- offshore does not mean off-limits."

GE, which neither admitted nor denied the allegations, said: "GE is committed to the highest standards of conduct in all transactions in all of the jurisdictions where we do business throughout the world."

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#16 Nov 22, 2012
The oil-for-food program was designed to allow food, medical aid and other necessary items to enter Iraq despite economic sanctions during Saddam Hussein's rule.

According to the SEC complaint, the bribes were made from 2002 to 2003. GE subsidiaries Marquette-Hellige and OEC-Medical Systems (Europa) AG allegedly paid $2.04 million in kickbacks to the Iraqi government.
Ionics Italba and Nycomed Imaging, which were later acquired by GE, paid $1.55 million in kickbacks, the SEC said.
For its bribes, Marquette received $8.8 million in contracts and OEC-Medical secured a $2.1 million contract, according to the SEC.
Ionics earned $2.3 million in wrongful profit on contracts and Nycomed made $5 million, the SEC said.
The agency said GE cooperated with its investigation. The Justice Department also often files foreign bribery cases, but GE said none would be forthcoming.
Violations of the Foreign Corrupt Practices Act have been an increasing source of cases for the SEC. One of the five specialized units created as part of an overhaul of the enforcement division focuses on foreign corruption.
Cheryl J. Scarboro, chief of the unit, said Tuesday, "GE failed to maintain adequate internal controls to detect and prevent these illicit payments by its two subsidiaries to win oil-for-food contracts, and it failed to properly record the true nature of the payments in its accounting records."
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#17 Nov 23, 2012
The GE case is the fourth largest to be brought in the oil-for-food program, after cases filed against German conglomerate Siemens, energy giant Chevron and chemical company Innospec.

http://www.washingtonpost.com/wp-dyn/content/...
Sam

Gambier, OH

#18 Nov 23, 2012
Protester wrote:
The GE case is the fourth largest to be brought in the oil-for-food program, after cases filed against German conglomerate Siemens, energy giant Chevron and chemical company Innospec.
http://www.washingtonpost.com/wp-dyn/content/...
PSSSssssst!

Obummer and the DemoncRATS are in on it.

Just thought you'd like to know...
toadmann

Masontown, PA

#19 Nov 23, 2012
youtube.com/watch... ……Elf Rant brings Things to light?

“ Soon: too late to protest”

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#20 Nov 30, 2012
GE whistle-blower complaints
http://www.topix.com/forum/topstories/T4NDMKH...
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