General Electric news stories on Newser

GE Hiring Thousands of US Veterans

Matt Cantor — Mon, 13 Feb 2012 07:54:31 CST

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 and...

30 Top Corporations Paid US No Taxes, Despite Profit

Kevin Spak — Thu, 03 Nov 2011 07:46:39 CDT

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...

Many Firms Pay CEOs More Than the Taxman

Kevin Spak — Wed, 31 Aug 2011 07:48:54 CDT

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 the...

Multinationals Cut 2.9M US Jobs, Hired 2.4M Abroad

Kevin Spak — Tue, 19 Apr 2011 07:36:45 CDT

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

Evann Gastaldo — Wed, 30 Mar 2011 11:02:40 CDT

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

Evann Gastaldo — Tue, 29 Mar 2011 05:58:03 CDT

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 it has...

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

Matt Cantor — Fri, 25 Mar 2011 10:36:05 CDT

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 made here,...

GE CEO to Head Obama's Job Council

Fri, 21 Jan 2011 07:03:50 CST

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

Matt Cantor — Mon, 01 Nov 2010 14:55:02 CDT

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 the Federal Reserve, and...