Skip to comments.GE X-ray leaders move to China (Investing 2 Billion there)
Posted on 12/21/2011 6:13:13 AM PST by no dems
General Electric Co.s health care unit, the worlds biggest maker of medical imaging machines, is moving the headquarters of its 115-year-old X-ray business to Beijing.
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
(Excerpt) Read more at articles.boston.com ...
GE used to be a great American company. Under Immelt it’s degenerated into nothing but a capitalist whore.
The problems with the corporate taxes occur because "Republicans and Democrats, both parties, sit in Congress and they're picking winners and losers," [Paul] Ryan said. The solution, according to the Wisconsin congressman: "Get rid of those loopholes and lower tax rates by a corresponding amount. Don't lose revenue, but for every loophole you pull out, and deny a company from being able to get this little carveout, you can lower the rates so we can be more competitive with our competitors overseas. We want to stem the bleeding of jobs going overseas, of foreign companies buying U.S. companies and taking headquarters overseas."
Point well taken. There are so many broken systems in America right now, from education to welfare to government intrusion to taxes, that I’m inclined to think a corporation that can game the IRS might as well get away with it. We sure don’t mind a far larger number of individuals than GE hires being wards of the United States.
Think of it. We have a dependent population comparable to the country of Spain embedded within our population and entirely dependent on the United States government for all their material sustenance. If you understand the scope of the problem, even if GE paid 100% of its gross revenue into the coffers, it would be dwarfed by the first bailout of foreign banks done by the Fed through TARP. 151 billion vs 7.7 trillion.