Posted on 08/30/2015 8:07:02 AM PDT by 2ndDivisionVet
Neither Dallas Mayor Mike Rawlings nor officials from General Electric would confirm on Friday reports that General Electric Co. had decided against relocating its global headquarters to the city because of Texas politicians’ opposition to the Export-Import Bank.
Republicans Rep. Jeb Hensarling and Sen. Ted Cruz have each been outspoken in their opposition to the Ex-Im Bank, a federal agency that offers loans, loan guarantees and credit insurance to help U.S. firms sell their products overseas.
Hensarling’s opposition to the bank has grown from a small movement two years ago to a full-scale rebellion, dismaying the bank’s supporters among major business lobbying groups. The bank’s charter expired June 30, and it had to suspend consideration of new deals...
(Excerpt) Read more at dallasnews.com ...
I do not purchase any GE products.
Jeff Immelt, the CEO, is a POS who has threatened to move production out of the US if the Export/Import Bill is not passed. In other words, he wants US taxpayers to subsidize his business. He could care less that GE has plenty of cash and that US workers would be fired.
The one piece of good news is that Immelt has been completely unsuccessful in raising the share price of GE stock. It has languished essentially in the same place for years under his leadership.
GE has a funny way of expressing that “opposition,” with existing and expanding major manufacturing facilities in Houston (Water and Electrical), Oil & Gas (New Braunfels), and Locomotives (Ft. Worth), probably more that I don’t know about.
They’ll be comfortable with anyone who doesn’t require them to pay taxes, as was the case with obama.
GE has the right to locate where they wish
IE Bank must be important to them
If they’d move to Mississippi the whole state would embrace that bank.....
But they’d have to import workers
As Nissan learned in Canton the black unemployed labor pool ain’t all that eager to get off the porch
Honestly, north Texas has about all the imports we need right now. Won’t miss GE one bit.
Ex-Im is the wrong fight. How about cutting NPR, the Adcouncil, Planned (Murder) Parenthood, etc. first?
GE sold off its appliance business to Electrolux this year.
I replaced all of my appliances in the past couple of years and hopefully won’t need any for a while. Is the brand name still GE or is it Electrolux now?
What did you replace your appliances with? I need to replace all my kitchen appliances soon and keeping to a reasonable budget.
GE buys and sells politicians. This would not stop them.
Somebody just gave them more free stuff to stay.
but then how could politicians create cities which are an excellent source of graft?
How could they control the movement of people?
"The GE name will not be going away from the line of refrigerators, stoves and dishwashers that were a major way most Americans knew the GE name. Electrolux (ELUXY) is buying the rights to continue to use the GE brand."
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