General Electric

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GE Hiring Thousands of US Veterans
 GE Hiring 
 of US Veterans 
good news dept.

GE Hiring Thousands of US Veterans

Firm to invest $580K in aviation plants amid effort to reboot economy

(Newser) - As General Electric prepares to host an economic summit in Washington, the firm has announced some fixes of its own: It will hire 5,000 US veterans over five years and invest $580 million in its aviation operations this year, Reuters reports. "We should have the confidence to act...

30 Top Corporations Paid US No Taxes, Despite Profit

Few companies actually pay 35% rate

(Newser) - America may have a lofty 35% corporate tax rate—but who actually pays that? A new study from a pair of left-leaning think tanks examined 280 Fortune 500 companies from 2008-2010, and found that their average effective rate was 18.5%, with a quarter paying less than 10% and 30...

Many Firms Pay CEOs More Than the Taxman

Liberal think tank singles out 25 of the 100 highest-paid execs

(Newser) - Many in Washington are calling for lower corporate taxes, but many US corporations have now become so adept at dodging the taxman that they’re paying their CEOs a lot more than Uncle Sam, according to a new study from a liberal think tank. The study found that 25 of...

Multinationals Cut 2.9M US Jobs, Hired 2.4M Abroad

Skilled jobs oozed out of the States in the 2000s

(Newser) - The US Commerce Department released a report today throwing into sharp relief just how drastically US multinational corporations are shifting jobs overseas. During the 2000s, US companies cut 2.9 million jobs in the US, while hiring 2.4 million abroad—including an increasing number of highly-skilled workers, the Wall ...

On NBC News, Not a Peep About GE Tax Story

But reps say that has nothing to do with the fact that GE is parent company

(Newser) - The GE tax avoidance story was kind of a big one—so why wasn't it covered on NBC News when it broke on Friday ... or on Saturday or Sunday or Monday? Critics were quick to point out that GE is NBC's parent company, but representatives insist that had nothing to...

Stewart: No Taxes for GE? I Give Up

Worse, President Obama doesn't seem to care, he notes

(Newser) - The GOP often argues that "we're making it harder and harder for good, honest corporate citizens to create jobs here" thanks to a stiff corporate tax rate, Jon Stewart noted last night . "Can you blame a company like GE for not wanting to do business in America when...

GE 2010 Profits: $14.2B GE Tax Bill: $0

In fact, it earned a tax benefit of $3.2B

(Newser) - General Electric is America’s biggest firm, but it’s not paying a dime in US taxes this year—instead, it has claimed a $3.2 billion tax benefit, the New York Times reports. Though it made a $14.2 billion profit in 2010, $5.1 billion of which was...

GE CEO to Head Obama's Job Council

Jeffrey Immelt to replace Paul Volcker atop renamed group

(Newser) - President Barack Obama is restructuring his economic advisory board to place an emphasis on job creation, and he is naming General Electric CEO Jeffrey Immelt as its new head. The new board, called the President's Council on Jobs and Competitiveness, will replace the former Economic Recovery Advisory Board that had...

Time for Big Business to Squash Tea Party

Corporate America must battle extremism

(Newser) - Big business may see the Tea Party as harmless, or perhaps even helpful, but it's time to “take a closer look:" the movement’s aspirations aren’t in its interests, writes Robert Reich in the Christian Science Monitor . Some 60% of Tea Partiers want, for example, to dump...

News Corp. Made Second $1M Donation to GOP Group

US Chamber of Commerce the recipient of Rupert Murdoch's cash

(Newser) - It turns out that Fox News parent company News Corp . didn't make one $1 million donation to a GOP-linked group over the summer: It made two. The beneficiary of Rupert Murdoch 's largesse is none other than the US Chamber of Commerce, a Republican-aligned business lobby that is running a...

Our Innovative Green Lightbulbs Are Made in China

Innovation costs US yet more factory jobs

(Newser) - The Obama administration often argues that promoting green technologies will create new American jobs, but tell that to the 200 guys still working at GE’s last major incandescent light bulb factory in Virginia. The factory is closing this month, thanks to a 2007 law essentially outlawing the old-fashioned bulbs....

Comcast Confirms NBC Buy
 Comcast Confirms NBC Buy 

Comcast Confirms NBC Buy

$13.75B deal will create entertainment juggernaut

(Newser) - Comcast has confirmed its deal to buy a controlling share of NBC Universal from GE to create one of the world's biggest entertainment firms. Comcast will pay $13.75 billion in cash and assets for a 51% stake in NBC, the AP reports. The nation's largest cable TV operator will...

Comcast Plans to Announce NBC Deal Tomorrow

Joint venture would have $51B in assets

(Newser) - Comcast is set to announce its acquisition of NBC Universal tomorrow. The deal with GE will make Comcast an entertainment behemoth, with a big stake in the cable, TV, and movie industries. Combined assets of the venture would have been $51 billion last year, the Wall Street Journal reports. Anti-trust...

Comcast's NBC Deal Gets Help With GE-Vivendi Pact

French outfit will sell Universal stake for $5.8B

(Newser) - Comcast’s acquisition of NBC Universal got a little closer to reality tonight with news that NBC’s parent company, General Electric, has a deal to buy the 20% of NBCU owned by France’s Vivendi—a stake that threatened to torpedo the sale to Comcast. GE would pay $5....

Dow Up 17 as Jobs Stats Stall Stocks
 Dow Up 17 as 
 Jobs Stats Stall Stocks 

Dow Up 17 as Jobs Stats Stall Stocks

Stock indexes finish week up 3%

(Newser) - Stocks rose slightly today after analysts upgraded GE—a striking sign of confidence, given the troubles at its finance arm over the previous year. But any enthusiasm was tempered by the news that unemployment hit 10.2% in October, the highest level since 1983.
  • The Dow rose 17.46 points

Dow Drops 67, Sinks Below 10,000, on IBM, BoA Reports

Dour day cuts into weekly gains

(Newser) - Stocks fell today as optimism about economic recovery waned in the face of disappointing earnings. Bank of American and General Electric’s financing division both posted quarterly losses. IBM, which reported strong profits but spooked investors with downbeat comments on the readiness of businesses to spend on technology, fell 5....

FDA Ignored Data on Risky MRI Dye
FDA Ignored Data on Risky MRI Dye

FDA Ignored Data on Risky MRI Dye

Failed to single out role of GE dye, Omniscan, in onset of disease

(Newser) - In May 2006, Danish medical regulators came to GE with troubling findings. Twenty-five patients with weak kidneys had developed NSF, a rare and sometimes fatal disease, after undergoing MRIs, and all 25 had been injected with GE’s Omniscan dye. Since then, the GE dye, along with other so-called “...

Big Business to 'Swarm' DC to Back Climate Bill

Bucking conventional wisdom, eBay, Gap, others push for action

(Newser) - More than 150 business leaders plan to “swarm” Capitol Hill over the next two days in support of climate change legislation. Hailing from such disparate companies as eBay, the Gap, and PG&E, the executives say having a law in place would give them confidence in their long-term planning,...

Comcast Near $35B Deal for NBC Universal

Cable giant has been in talks with owner of network for weeks

(Newser) - Comcast is near a $35 billion deal to acquire NBC Universal, which encompasses the network, a movie studio, cable channels and more, sources tell the Wrap. Bankers from the cable giant and General Electric, NBCU’s parent company, met Tuesday after Comcast decided to think bigger than a pursuit of...

Dow Gains 21 as Industrial, Utility Sectors Rise

Signs of life in M&A spur late advances

(Newser) - Stocks swung to gains late in the session today, with industrial stocks and utilities pacing advances, the Wall Street Journal reports. Reports of the Chinese government acquiring power-plant developer AES boosted the S&P 500. AES gained 4.5%, and General Electric climbed 4.6%. The Dow rose 21.39...

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