General Electric closing plant in US, opening in China

[haypoint]

Keep your eye on Waukesha, Wisconsin......Their biggest employer just moved out.

Thanks Jeff, you're a "real" American....give Barrack our Best !!


General Electric is planning to move its 115-year-old X-ray division from Waukesha, Wis., to Beijing. In addition to moving the headquarters,
the company will invest $2 billion in China and train more than 65 engineers and create six research centers. This is the same GE that made
$5.1 billion in the United States last year. but paid no taxes-the same company that employs more people overseas than it does in the united States.

So let me get this straight. President Obama appointed GE Chairman Jeff Immelt to head his commission on job creation (job czar).
Immelt is supposed to help create jobs. I guess the President forgot to tell him in which country he was supposed to be creating those jobs.

If this doesn't show you the total lack of leadership of this President, I don't know what does. Please pass this information to others and
think about it before you buy a GE product.

According to Snopes, this is true.
http://www.snopes.com/politics/business/ge.asp

[Jim Bunton]

Not sure how this can be blamed on Obama, but it sure makes one question the myth that lowering taxes will bring jobs to America. How much lower then zero would we have to go?

I would be very concerned if I was the ceo of one of these companies moving to China where it is required that to do business you must partner up with a Chinese firm that one day when the factories were all built the technology transferred and the markets secured the U S companies will be asked to leave China by the government.

Jim

[Bearfootfarm]

Not sure how this can be blamed on Obama, but it sure makes one question the myth that lowering taxes will bring jobs to America. How much lower then zero would we have to go?

No taxes have been "lowered", and I imagine it's simply a lie to say they paid "no taxes".

According to Snopes, this is true.
http://www.snopes.com/politics/business/ge.asp

"Snopes" is a guy and his wife with a computer in the basement.

[mnn2501]

Originally Posted by Bearfootfarm

"Snopes" is a guy and his wife with a computer in the basement.

So what? they are accurate, which is more than I can say for many people on the internet.

[Jim Bunton]

Originally Posted by Bearfootfarm

No taxes have been "lowered", and I imagine it's simply a lie to say they paid "no taxes".


"Snopes" is a guy and his wife with a computer in the basement.

Bush lowered taxes, Obama continued the cuts. Why would you assume it is a lie that they paid no taxes?


Jim

[arabian knight]

That has been on newscasts since this summer when it hit. Yes it is true.
This is from CNN back in July.
http://caffertyfile.blogs.cnn.com/20...s-sent-to-u-s/

[Bearfootfarm]

So what? they are accurate

They say they are.

Bushed lowered taxes, Obama continued the cuts. Why would you assume it is a lie that they paid no taxes?

Corporate taxes haven't been lowered any time recently, and are still high compared to the rest of the world

I don't "assume" it's a lie.

It simply IS a lie

http://features.blogs.fortune.cnn.co...-ges-tax-bill/

Did GE get a $3.2 billion tax refund? No.

Did GE pay U.S. income taxes in 2010? Yes, it paid estimated taxes for 2010, and also made payments for previous years.

Think of it as your having paid withholding taxes on your salary in 2010, and sending the IRS a check on April 15, 2010, covering your balance owed for 2009.

Will GE ultimately pay U.S. income taxes for 2010? After much to-ing and fro-ing -- the company says it hasn't completed its 2010 tax return -- GE now says that it will pay tax. (For more on GE's tax strategies, see GE's taxes: A case study)

[arabian knight]

Originally Posted by Jim Bunton

Bush lowered taxes, Obama continued the cuts. Why would you assume it is a lie that they paid no taxes?


Jim

Because it is a lie. Period.

[Callieslamb]

GE has been heavily invested in China for a while now. This is just one more move for them.

[VERN in IL]

sigh, GE is a GLOBAL company. Why are we surprised?

[arabian knight]

Gee most ALL Huge companies and even some small ones these days are Global.
In fact even the small company I worked for in AZ. Is in Mexico with a assembly building.
And the computer parts maker that I work for that is in 3 states also has a plant in Thailand now.
That is what is keeping them a float in the hard times the US is going through right now. Thank Goodness they are Global. As it has been a Global economy for many years now.

[Ozarks Tom]

I don't fault anyone for doing what they think is in the best interest of their company. My problem is with the hypocrisy of putting Immelt in charge of a jobs program. The audacity is stunning. Even more than you'd expect from a corrupt bunch of politicians.

If anyone seriously believes Obama & his crew are really interested in what's best for this country, get away from your idealogical knee jerk reactions for a moment and take another look at his actions, not his words.

[7thswan]

GE was always in bed with Obama.

[greg273]

Originally Posted by arabian knight

Gee most ALL Huge companies and even some small ones these days are Global.
In fact even the small company I worked for in AZ. Is in Mexico with a assembly building.
And the computer parts maker that I work for that is in 3 states also has a plant in Thailand now.
That is what is keeping them a float in the hard times the US is going through right now. Thank Goodness they are Global. As it has been a Global economy for many years now.

The 'hard times America is going through' is caused by things such as this. And its only hard times for the poor and middle class. The wealthy are doing just fine.

[greg273]

Originally Posted by 7thswan

GE was always in bed with Obama.

Another rightwing myth, or actually more of a half-truth. GE is 'in bed' with whomever is in power.

[Cornhusker]

Originally Posted by greg273

The 'hard times America is going through' is caused by things such as this. And its only hard times for the poor and middle class. The wealthy are doing just fine.

The elite that bought the throne for Obama.

[Cornhusker]

Originally Posted by greg273

Another rightwing myth, or actually more of a half-truth. GE is 'in bed' with whomever is in power.

More accurately, Obama is in bed with GE and whoever will "donate" to his campaign.
Obama is a political prostitute. He has all the ambition of a third world dictator without the burden of loving the country he's trying to rule.
He is devoid of conscience or sentiment, so he doesn't care one way or another what GE does, and he doesn't care if you or I have a house or a job.
He says he does, but his actions prove him a liar.
The simple minded will continue to vote for him, only remembering his latest speech or TV commercial and forgetting his rape of the American way of life.

[plowjockey]

GE still has 150,000 U.S. employees.

Whether he is the "job czar" or not, he has a fiduciary responsibility, to maximum returns to company investors.

Building x-ray equipment in WI, for export to the huge China market, is not necessarily responsible.

[poppy]

Originally Posted by plowjockey

GE still has 150,000 U.S. employees.

Whether he is the "job czar" or not, he has a fiduciary responsibility, to maximum returns to company investors.

Building x-ray equipment in WI, for export to the huge China market, is not necessarily responsible.

Their number of US employees will continue to shrink. Before long, instead of making X-ray equipment in WI for export to China, they will be making X-ray equipment in China for export to the US along with many of their other products. We've seen it in many industries. Just another example of not being able to compete with foreign manufacturers. However, he was a curious choice for job czar.

[mrpink]

Originally Posted by haypoint

Keep your eye on Waukesha, Wisconsin......Their biggest employer just moved out.

if you read your own link it states that only the x-ray division headquarters is moving which employs 120 people. it also states that there will be no job loses.
way to blow things out of proportion.

Thanks Jeff, you're a "real" American....give Barrack our Best !!


General Electric is planning to move its 115-year-old X-ray division from Waukesha, Wis., to Beijing. In addition to moving the headquarters,
the company will invest $2 billion in China and train more than 65 engineers and create six research centers. This is the same GE that made
$5.1 billion in the United States last year. but paid no taxes-the same company that employs more people overseas than it does in the united States.

So let me get this straight. President Obama appointed GE Chairman Jeff Immelt to head his commission on job creation (job czar).
Immelt is supposed to help create jobs. I guess the President forgot to tell him in which country he was supposed to be creating those jobs.

If this doesn't show you the total lack of leadership of this President, I don't know what does. Please pass this information to others and
think about it before you buy a GE product.

According to Snopes, this is true.
http://www.snopes.com/politics/business/ge.asp

this really has nothing to to with the president. GE makes business decisions that benefits GE just like any other business, or any household for that matter. businesses are under no obligation to create jobs in the U.S. just as you are under no obligation to buy only products made in the U.S.

next, again from your own link, the reason for this is to produce medical devices specifically for the Chinese market.

next the jobs and competitive counsel has 26 members with Jeffery Immelt being the chair. it's purpose is to advise the president on ways to make the U.S. more competitive with the rest of the world. laws would have to be passed in most cases before that happens.

lastly I guess I missed where you praised GE,Jeffery Immelt and President Obama for GE choosing to open a solar power plant in Colorado that will employ 400 workers.

spinning details/ leaving out important facts is not a good way to convince people you have any creditably.