General Electric

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All New GE Hires Will Learn to Code

'The new middle-class job is a programmer'

(Newser) - Want to learn to code? Get a job at General Electric. CEO Jeff Immelt tells Vanity Fair that new hires, including the 4,000 to 5,000 college graduates hired each year, will now learn to code as part of a larger overhaul to the century-old company. "It doesn'... More »

GE: Say Goodbye to CFLs, Hello to LEDs

Company is phasing out curly compact fluorescents

(Newser) - Valentine's Day is just a couple of weeks away, but there's a big split making headlines. "GE is breaking up with compact fluorescent lamps" is how General Electric broke the news in a Monday release on its latest development: It will phase out compact fluorescent lights, or... More »

There's $620B in Taxes the US Can't Get Its Hands On

Just 30 companies have offshore holdings totaling $1.4T

(Newser) - Apple has skipped out on paying close to $60 billion in taxes on $181 billion it holds offshore, according to a new study. But though the company holds the most profits offshore of any US company, it's hardly alone: At least 358 American companies hold $2.1 trillion in... More »

Electrolux to Buy GE Appliance Business in $3.3B Deal

Purchase should be approved by 2015

(Newser) - Sweden's Electrolux is buying the appliances business of General Electric for $3.3 billion, boosting its presence on the North American market, the companies announced today. The acquisition is the largest ever for Stockholm-based Electrolux, ranked as the world's second-biggest home appliance-maker after US rival Whirlpool. GE confirmed... More »

GE Gets Into the Fracking Biz

Sinks billions in bid to improve the process

(Newser) - One of America's corporate giants is putting its billions where the fracking boom is: General Electric is opening a new laboratory in Oklahoma, buying up related companies, and placing a big bet that cutting-edge science will improve profits for clients and reduce the environmental and health effects of the... More »

US Companies Stashing $1.9 Trillion Overseas

'Broken' tax code causes offshore hoarding to soar $183B last year

(Newser) - The top 83 US-based companies now hold a massive $1.45 trillion offshore, parked in low-tax countries, after increasing those holdings by 14.4%—or $183 billion—just in the last year, reports Bloomberg . The leader in offshore profit parking is GE, with $108 billion, up $6 billion from last... More »

Top 10 Companies for 2013

Apple, of course, makes forecasters' list, along with Pfizer, Walmart

(Newser) - The prognosticators at 24/7 Wall Street are out with their annual predictions on which companies will be the most profitable in 2013. And, yes, Apple is expected to retain its No. 1 spot—by a wide margin. Here is the forecast with expected 2013 earnings, via MarketWatch .
  • No. 1: Apple,
... More »

Jack Welch: I Should Have Put Question Mark on Tweet

But he still thinks jobs numbers are fishy

(Newser) - Former GE chief Jack Welch became the face of the latest trutherism movement yesterday when he tweeted that the new jobs numbers were too good to be true—"these Chicago guys will do anything..can’t debate so change numbers," it read. He said on CNN last night... More »

Ex-GE Boss: Obama Must Be Tweaking Jobs Figures

Slew of tweets jump in on conspiracy theory

(Newser) - And a new conspiracy theory is born. The only explanation for the latest jobs data is that President Obama has been meddling with the numbers, says former GE CEO Jack Welch. "Unbelievable jobs numbers," he tweeted. "These Chicago guys will do anything... can't debate so change... More »

GE Exec to Be Paid $89K a Month ... to Not Work

John Krenicki gets cushy package in return for non-compete

(Newser) - John Krenicki, a vice chairman at GE, is leaving the company ... and in exchange for agreeing not to work for a competitor any time in the next three years, he's getting paid $89,000 per month until 2022. That's more than $1 million per year, the Wall Street ... More »

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... More »

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... More »

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... More »

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 ... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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