30 April, 2011

.U.S.’ Corporations Outsourced More Than 2.4 Million....

...American Jobs Over The Last Decade
With GE being a leader in outsourcing and the majority of their manufacturing out of the country and pay no tax liability. Does GE deserve to fly the American Flag?

 GE was founded in Schenectady, New York (1892) by Thomas Edison, Elihu Thomson, Edwin J. Houston and Charles A. Coffin.  I wonder if they are rolling in their graves seeing how anti - American GE has become.

In 2004, GE was named number one company for employers and employees on the Forbes 500 Global Player list.Over the years, GE has received several awards honoring them for their accomplishments, values and reputation:
In Fortune Magazine's 2005 "Global Most Admired Companies" list, GE ranked first overall. (February 2005)In Fortune Magazine's 2006 "America's Most Admired Companies" list, GE ranked first overall. (March 2006)] GE was named to the Dow Jones Sustainability World Index as one of the world's leaders in environmental, social and economic programs.GE ranked ninth on Fortune Magazine's "50 Most Desirable MBA Employers" list. (April 2004)

In March 2011, The New York Times reported that despite earning $14.2 billion in worldwide profits, including more  than $5 billion from U.S. operations, General Electric did not owe taxes in 2010
General Electric had a tax benefit of $3.2 billion. This same article also pointed out that despite their continually diminishing tax liability.In the 1950s, almost a third of federal tax receipts came from corporations. Today, that’s been whittled down to 6.6 percent U.S. corporations, global tax games. Since the 1990's, GE has laid off one-fifth of their American workers since 2002.  GE has a history of some of its activities giving rise to Argo-scale air and water pollution. Based on year 2000 data, researchers at the Political Economy Research Institute listed the corporation as the fourth-largest corporate producer of air pollution in the United States, with more than 4.4 million pounds per year (2,000 Tonnes) of toxic chemicals released into the air. GE has also been implicated in the creation of toxic waste. According to EPA documents, only the United States Government, Honeywell, and Chevron Corporation are responsible for producing more Superfund toxic waste sites.In 1983, New York State Attorney General Robert Abrams filed suit in the United States District Court for the Northern District of New York to compel GE to pay for the cleanup of what was claimed to be more than 100,000 tons of chemicals dumped (legally, at the time) from their plant in Waterford. In 1999, the company agreed to pay a $250 million settlement in connection with claims it polluted the Houston River and other sites with poly chlorinated biphenyls (PCBs) and other hazardous substances.]From approximately 1947 to 1977, GE discharged as much as 1.3 million pounds of PCBs from its capacitor manufacturing plants at the Hudson Falls and Fort Edward facilities into the Hudson River. GE fought a media and political battle to avoid cleaning up the river and countered that dredging the river
would actually stir up PCBs.In 2002, GE was ordered to clean up a 40-mile (64 km) stretch of the Hudson River it had contaminated.In 2003, acting on concerns that the plan proposed by GE did not "provide for adequate protection of public health and the environment," the United States Environmental Protection Agency issued a unilateral administrative order for the company to "address cleanup at the GE site" in Rome, Georgia, also contaminated with PCBs. The reactors involved in the 2011 crisis at Fukushima I in
Japan are GE designs, and the architectural design were done by Ebasco, formerly owned by GE. Concerns over the design of these reactors was raised as early as 1975.Environmental initiatives In May 2005 GE announced the launch of a program called "Ecomagination," intended, in the words of CEO Jeff
Immelt "to develop tomorrow's solutions such as solar energy, hybrid locomotives, fuel cells, lower-emission aircraft engines, lighter and stronger durable materials, efficient lighting, and water purification technology,
Legal issuesOn August 4, 2009 the SEC fined General Electric $50 million for breaking accounting rules in two separate cases, misleading investors into believing GE would meet or beat earnings expectations.
Brand GE has the fourth most recognized brand in the world, worth almost $48 billion.

Revenue                US$ 104.635 billion (2010)[2]
Operating income  US$ 15.166 billion (2010)[2]
Net income           US$ 12.163 billion (2010)[2]
Total assets           US$ 751.216 billion (2010)[2]
Total equity           US$ 124.198 billion (2010)[2]
Employees            287,000 (2010)[2]
Subsidiaries GE Energy
GE Technology Infrastructure
GE Capital
NBCUniversal (49%)
GE Home & Business Solutions
source: http://en.wikipedia.org/wiki/General_Electric

Their slogan, "imagination at work" replacing the longtime slogan to"we bring good things to life good idea if making nuclear weapons
 U.S. corporations, global tax games! We have to stop it.

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