General Electric

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Thomas Edison established the Edison General Electric Company in 1890. Edison's company and the Thomson-Houston Company combined in 1892 to form the General Electric Company. The company worked to develop electrical innovations, and grew to be one of the major businesses in the United States.

Today General Electric produces a wide variety of electrical products designed for home use by consumers: lamps and lighting, large appliances such as stoves, refrigerators, washers and dryers, small appliances such as fans, and hair dryers, and and has subdivisions to produce products for wider use in areas of: industry, aviation, and medical equipment.

GE's main headquarters is in Fairfield, CT. (USA). The current CEO is Jeffrey Immelt. General Electric is the only company listed in the original Dow Jones Industrial Index of 1896 that is still listed today. The company grossed over $163 billion dollars in 2006, with a net profit of over $20 billion.

General Electric also owns NBC Universal, which operates the NBC television network, CNBC, MSNBC, the SciFi Channel, USA Network, the spanish language station Telemundo, and Universal Studios. The company is still expanding and aquiring new companies, and in 2006 purchased a large UK company, Smith's Aerospace, for $4.8 billion.

The small company founded by Thomas Edison is now one of the largest and most profitable companies in the United States, and employs more than 300,000 people worldwide.

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Criticisms

Under Jeffrey Immelt's direction, GE has shipped tens of thousands of good jobs outside the United States. [1] As Head Of Obama’s Jobs Council, Immelt guarantees joblessness to remain at the highest levels.

Immelt was blamed for supplying equipment to Iran while Iran was funding the deaths of U.S. troops in Iraq. Iran is on a terror list prohibited from doing business with U.S. companies.

Immelt continues to refuse to step down as CEO even as he is responsible for driving down the value of GE's financial holdings.[2]

In 2011, Immelt's NBC division has a minority stake of 49% in MSNBC, with Comcast taking majority ownership. The MSNBC channel is known for fake news and slander, the Air America of television. Also, a channel that is a cheerleader for Obama and routinely hides the administration's bad news from the public. MSNBC under Immelt's leadership is pure Democrat Media Complex, partisan driven -- propaganda channel.

Immelt's General Electric has announced that it will use embryonic stem cells provided by Geron Corporation for the purpose of testing toxic effects of drug treatments. [3]

A book by Henry Paulson says Immelt begged for government bailouts at least four times. Fox Business analyst Cody Willard says that at the same time Immelt was asking for bailouts, he was telling investors that "We [GE] have had no problems with our own commercial paper [loans]." [4] Deceitful financial statements are in direct violation of SEC rules.


See Also


References

  1. GE CEO Jeffrey Immelt, The Head Of Obama’s Jobs Council, Is Moving Jobs And Economic Infrastructure To China At A Blistering Pace, BeforeItsNews.com, August 1, 2011
  2. Jeff Immelt slashed thousands of jobs at GE, can he fix the U.S. economy? Meet Obama's Job 'Czar', FoxNews.com, February 2, 2011.
  3. General Electric to Use Embryonic Stem Cells for Testing, Phase Out Lab Rats Lifesitenews.com, July 1, 2009
  4. Cody: Prosecute Jeff Immelt, Fox Business, February 13, 2010

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