GE moving X-ray business to China

[Romulox]

Source: The Boston Globe

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.

“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.

<snip>

“Over the next five years, China will be GE Healthcare’s most important growth market,’’ said Rachel Duan, the China unit’s chief executive.

Read more: http://www.boston.com/business/articles/2011/07/26/ge_moving_x_ray_business_to_china/

---

GE's CEO Jeff Immelt serves as one of President's Obama's top economic advisors as the President's appointed head of the Council on Jobs and Competitiveness.

[Autumn]

1. Fuck GE

and fuck Immelt.

[pam4water]

11. +1

[Maine-ah]

20. agreed!

:applause:

[otohara]

2. No Jobs Lost - Bullshit

oh, btw, the new term for outsourcing is "transferred" - the jobs were merely transferred to a China or India.

[Fearless]

3. But but but if they had lower taxes then maybe they would have stayed!!1!

:eyes:

[spin]

7. Yup, we need to lower GE's taxes.

G.E.’s Strategies Let It Avoid Taxes Altogether
Published: March 24, 2011



A PRESIDENT’S BUSINESS LIAISON
In January, President Obama named Jeffrey R. Immelt, General Electric’s chief executive, to head the President’s Council on Jobs and Competitiveness. “He understands what it takes for America to compete in the global economy,” Mr. Obama said.

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.
http://www.nytimes.com/2011/03/25/business/economy/25tax.html?pagewanted=all

[Fearless]

8. But but but that's what Rush told me to think!1!!!1!

:rofl:

[freshwest]

14. I thought they weren't paying any...

[awoke_in_2003]

4. "there won’t be any job cuts"...

yeah, for every American they eventually lay off, they will hire someone in China :sarcasm:

[Demeter]

5. Well , I hope they are barred from providing services to Obamacare.

[physioex]

6. Wake up folks....

These are our "job creators".......

[wilt the stilt]

9. Scott walker

How's that pro business agenda working? It's on your watch.

[FreakinDJ]

10. Obama tried to Close Loopholes that Outsource American Jobs

and the GOP raised a big stink over it

they said he was attacking the "Job Creators"

[Jefferson23]

12. One of the job creator's hmm. Has Obama pointed this out to the public

while fighting to raise taxes on these dear companies?


K&R

[JJW]

13. Hold on there

Isn't this guy, Obama's guru on creating US jobs? If he can't convince himself to invest in the US, how is going to convince anyone else?

[FreedomVoice]

16. The artical should basically just say:

"In January, President Obama named Jeffrey R. Immelt, General Electric’s chief executive, to head the President’s Council on Jobs and Competitiveness. NOTE: GE avoids all US taxes and fully plans on using this appointment to grow its profits along with further reduce is costs (taxes included). GE also would like to sincerly thank the administration for this ability."

[Broderick]

Yep

And the CEO of GE told people to quit whining about taxes as they at GE paid ZERO and then they "transfer jobs" to China, while helping Obama on creating US jobs. Something stinks.

[trud]

15. Aren't they already frying people

from time to time with those systems? Just wait until they're Made in China.

[psychopomp]

17. Sigh

No words, really...

[ileus]

18. Oh great Chinese X-ray tubes......+/- 30% Kvp

[felix_numinous]

19. GE has been having union negotiations since May

After Paying Zero Income Taxes, GE Plans To Ask Its Union Workers To Make Wage And Benefits Concessions:

http://thinkprogress.org/economy/2011/03/28/153869/ge-union-workers-cuts/


UE-GE National
Contract Negotiations 2011:

http://www.ueunion.org/unity2011.html

[kiranon]

21. The Chinese will duplicate everything GE has and GE won't reap

any benefits from its move to China. That is how it is done - a Chinese company or joint company with GE under Chinese control will be the long term result of GE's foolish move to China.

[Romulox]

22. Jeff Immelt's Jobs and Competitiveness advice to American workers: move to China!

Why does this President surround himself with vipers?

[Broderick]

24. The real president maybe

http://www.portfolio.com/views/blogs/capital/2011/03/25/obama-can-look-to-immelt-for-advice-avoiding-taxes/

[Islandlife]

23. Let China import OUR products for a change

has manufacturing and production moved to china as well? Hope not.

Obama needs to confront Jeff imelt and explain what is happening with this council on Jobs and competitiveness.

[Evasporque]

25. Scott Walker - Wisconsin open for business...nt