Just days ago bankrupt, bailed-out, government-owned, tax-free, overseas-job-outsourcing GE CEO Jeffery Immelt scolded American business owners, ‘The people in this room have got to stop complaining about government!‘, and, ‘The truth is, we all need to be part of the solution‘.
Forget GE-sponsored Obama warning us, ‘There is going to be a tug-of-war within the US between those who see globalization as a threat, and those who accept it’, and then Obama calling on GE’s chief Jeffrey Immelt to head his economic recovery advisory panel while Obama made ‘special arrangements’ for the upcoming $53 billion in taxpayer funds used to subsidize GE’s construction of a high-speed rail system.
And put aside your self-centered, conspiracy-like questions regarding the hundreds of billions in American taxpayer dollars used to keep the hemorrhaging Obama–GE Titanic afloat. It’s simply a matter of ‘foreign’ economics, something you wouldn’t understand.
General Electric Moving Health Care Headquarters To Beijing
(Boston) 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.
The division should have “double-digit’’ growth rates as the country converts from film and analog to digital X-ray technology, LeGrand said.
GE Healthcare, also the world’s biggest maker of magnetic resonance imaging and cardiac tomography scanners, got about $1.1 billion of its $16.9 billion in sales from China last year.
The X-ray business, whose financial results aren’t reported separately by GE, will hire 65 new engineers and support staff at a new Chengdu facility, the company said. GE has hired “a large number’’ of engineers who are in training, LeGrand said. GE, based in Fairfield, Conn., also has a global research center in Shanghai.
“Over the next five years, China will be GE Healthcare’s most important growth market,’’ said Rachel Duan, the China unit’s chief executive.
About 60,000 people work at GE Healthcare globally.
UPDATE: Boston Scientific Follows The ‘Leader’
Boston Scientific Corp. said yesterday that it plans to eliminate 1,200 to 1,400 jobs worldwide during the next 2 1/2 years to free money for new investments, the Natick medical device maker’s second major round of cuts since last year.
The company would not say how many jobs will be lost in Massachusetts, where fewer than 2,000 of its 25,000 employees are based. In February 2010, Boston Scientific said it would pare 1,300 jobs worldwide, but similarly did not say where.
Yesterday’s move, a day after Boston Scientific disclosed it was investing $150 million and hiring 1,000 people in China, raised fears that the company will gradually shift more work to foreign sites with less government oversight and lower costs than the United States.
“I’ve asked for information on where they are cutting jobs,’’ said state Senator James B. Eldridge, an Acton Democrat. He has proposed so-called clawback legislation that would allow the state to recover money from businesses that receive tax breaks here – including Boston Scientific – and then reduce their workforces.
“My sense is, sadly, that like many other American companies, they are shedding jobs in Massachusetts and adding jobs overseas,’’ Eldridge said. “And this is a company making greater profits, so it’s even more outrageous.’’
Obama says, ‘There is going to be a tug-of-war within the US between those who see globalization as a threat, and those who accept it’: HERE
Bankrupt-Bailed-Out-Government-Owned-Tax-Free-Overseas-Job-Outsourcing GE Tells American Business Owners, ‘Stop Complaining About Big Government’: HERE
Bankrupt-Bankrupt GE to spend $30 billion as Obama administration continues to fund GE: HERE
Obama seeks $53 billion to fund ‘secretly’ bailed out GE for high-speed rail: HERE
Taxpayer funded Communist supporting GM pushes for higher gas tax: HERE
GE’s strategy, ‘Let’s avoid taxes altogether’: HERE
GE loves Obama joke, ‘shovel-ready was not as shovel-ready as we expected’: HERE
Bankrupt GM and Chrysler blow taxpayer loot: HERE
US practically owned by China – who cares? Not congress: HERE
China to build 50 square mile city in Idaho: HERE
Obama welcomes our Chinese overlords: HERE
Chinese professor explains the destruction of America: HERE
Obama + George Soros + Petrobras + $ Billions USD: HERE
The end of Western Civilization: HERE
Unpatriotic Games – White House Space Invaders: HERE