Obummers Corporate buddy pays no taxes and then move a division to China. Swell.
Posted on 07/26/2011 1:16:15 PM PDT by kcvl
General Electric Co.’s health care unit, the world’s biggest maker of medical imaging machines, is moving the headquarters of its 115-year-old X-ray business to Beijing.
Tweet 14 people Tweeted this.ShareThis .“A handful’’ of top managers will move to the Chinese capital and there won’t be any job cuts, said Anne LeGrand, general manager of X-ray for GE Healthcare. The headquarters will move from Wisconsin amid a broader plan to invest about $2 billion across China, including opening six “customer innovation’’ and development centers.
The division should have “double-digit’’ growth rates as the country converts from film and analog to digital X-ray technology, LeGrand said.
GE Healthcare, also the world’s biggest maker of magnetic resonance imaging and cardiac tomography scanners, got about $1.1 billion of its $16.9 billion in sales from China last year.
(Excerpt) Read more at boston.com ...
Per Drudge...
Obummers Corporate buddy pays no taxes and then move a division to China. Swell.
How much of those GE earnings that are sitting on the sidelines in this economy were earned overseas? Just another operating division who’s profits will never be repatriated due to the US Corporate tax system. Wonder why the jobs are gone? Here’s one reason.
I think this country has had it’s bellyful of GE. Time to go Alinsky on their azz.
Is anyone really surprised?
... oh
Anyone but GE is my new slogan.
We now need to ask where the XRay machine is made before we get into one. I wouldn’t use one of those things on a bet. So....we continue to refuse to buy Chinese products as well as GE products.
Could we at least get China to use their military to defend corporate interests overseas?
Why do you think companies are moving to China? Do you think our taxes, labor and environmental regulations, labor unions, and unfriendly business attitude might be playing a role? Or why are countries like China and Ireland attracting US corporations to set up their headquarters in those countries? Until we make this country a more attractive place to do business, we are going to see more and more jobs going elsewhere. It isn’t just about cheap labor.
The president’s jobs czar is doing a heck of a job — for China
Posted by Jon Talton
President Obama continued to exhibit a pleading weakness in his prime-time speech Monday night, so it’s no wonder Monday was the same day that his “jobs czar,” General Electric CEO Jeffrey Immelt, chose to announce the company will be moving the headquarters of its health-care division to China. You want compromise, Mr. President? In your face, sir, with all due respect.
Immelt replaced Paul Volcker as a top economic adviser. The former Federal Reserve chief, who defeated runaway inflation in the early 1980s, was done in by his resistance to letting the big banks and Wall Street resume the business as usual that led to the financial meltdown. Mr. Obama wanted to project a more business-friendly face for his administration. The results of Immelt’s public service have been to barely dent the plight of 24 million Americans who are unemployed or underemployed. I suppose we should be grateful that GE’s domestic employment dropped only 1 percent last year even as net income hit $11.6 billion, topping Wall Street expectations.
Tell me about it. When you factor in the productivity advantages of the American worker the labor-cost disparity is usually slight-to-non-existent. It usually comes down to a taxes & cost of capital.
When some of my customers move automated assembly lines over to China the word came back that the "locals" couldn't maintain the equipment or get consistently good parts off them. So the Chinese did what they do best... they started hand-assembly. You can't tell me that the part quality didn't suffer.
GE sez: Give me your American money, and then moves offshore. Boy we got a great deal didn’t we? Stupid government!
Immelt has been known to do those types of treasonous things.
From a Ted Baxter piece he did a number of years.
http://www.foxnews.com/on-air/oreilly/2008/04/15/iran-general-electric-and-new-york-times
Way to go Zero...
Pr. Obama - ‘STOP GOP Offshoring of US Jobs’
http://www.youtube.com/watch?v=Nt-pcsvdKGo
My mom is using bandages that cost $5 each made in Sweden. CVS charges $1.00@ for a regular J & J surgical dressing pad. Aquafore costs $7.50 for 3 oz and it is packaged in heavy plastic that prevents people from getting all of the ointment out of the tube. Some of the bandages cost $10 each. A toilet seat on a handicapped portable toilet cost $80
If it wasn't for Amazon, they couldn't afford to take care of her.
One of her antibiotics cost $650 for 10 days taking 2 tsp 2X/day.
Surely we have enough know how to start up honest companies. It can't cost that much to make this stuff.
He makes me sick! I cannot and will not watch the arrogant jerk who has no freaking clue.
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