Wednesday, October 23, 2013

GE :a paragon among MNCs

"  U.S. corporation, GE  has  operations in 130 nations "

" Jack Welch,  former GE CEO :

" “Ideally, you’d have every plant you own on a barge
 to move with currencies and changes in the economy.”

"GE keeps more of its profits overseas than any other U.S. company"

"By the end of 2010 , 54 percent of GE’s 287,000 employees worked abroad"

 an average annual U.S. corporate income tax rate of  1.8 percent between 2002 and 2011"

". In 2010, when GE reported worldwide profits of $14.2 billion,
 it paid no U.S. corporate income tax "
" it claimed a tax benefit of $3.2 billion. "

"During the financial crisis of 2008-2009
 the federal government’s Temporary Liquidity Guarantee Program
loaned approximately $85 billion to GE Capital"

" the company’s  finance arm that accounts for roughly half of GE’s profits"