Nice rant from this site about US businessmen selling us out.
“Don’t leave out Jeffrey Immlet the CEO of GE. In January 2011 Obama
named Immlet to run his outside panel of economic advisers and chair a new
Council on Jobs and Competitiveness. Obama said he wants the council to
“focus its work on finding new ways to encourage the private sector to
hire and invest in American competitiveness.” Obama is either nieve or
dumb, to appoint Immlet is to appoint one of the chief proponents of increasing
stockholder profitability by reducing the American payroll (Called Cost
Cutting) and going overseas. Between 2005 and 2010, GE terminated a whopping 28,000
employees in America. In 2000, 30 percent of GE’s business was overseas; today,
60 percent is. In 2000, 46 percent of GE employees were overseas; today, 54
percent are (Wessel, 2011). Immlet would have Ameicans believe that he is going
overseas because “…that’s where the customers are.” He is lying. According to
Samples (2011) in July 2011 it was discovered that Immlet was moving the
headquarters of its 115 year old X-ray business to Beijing as part of his plan
to invest about $2 billion across China over the next few years. He seems
to forget that goods can be manufactured in America and sold overseas, he also
forgets that is what America use to do and the country was prosperous, not just
CEO’s and stockholders. No politician has come forth and exposed this travesty.
In 2010, General Electric earned $5.1
billion in America and more than $14 billion worldwide. They also received more
than $3 billion in federal government tax credits while paying no US income
taxes in 2010 or 2009.