GE stuck it to the jobless and they didn't even think to use Vaseline
By Arnie Sherr, Contributive writer for Fighting 4 the Middle Class, The Resume Store’s GET-A-JOB Blog - November 26, 2011
Just about everyone asks, “Where are the jobs?” Hey Washington, we are all waiting for an answer. America, do not hold your breath.
The rhetoric from both sides is monolithic; huge, but without substance. The left wants to end the Bush Tax Cuts and the right preaches keeping them alive. Of it all, the reason is the same. Take them away so the monies may contribute to programs that grow employment or keep them giving industry incentive to reinvest into new jobs. Neither position adds to jobs. Every economist and a few vocal CEOs say with confidence, the only thing that grows jobs is demand. Taxes yea or nay have no effect on jobs growth.
- Demand grows when people have jobs; are paid, buy food, soft goods, hard goods, cars, trucks, gas, homes, rental apartments, books and the list is unending.
- Demand grows from lowering the prices of goods and commodities creating a spiraling effect that increases demand through added consumer spending.
- Jobs grow when American corporations and companies reinvest in America. That is to say, when they sign contracts for products and services outside the US, they must employ Americans to manufacture, ship, install and provide such products and services.
It is apparent GE and most other megacorps and companies have forgotten from where and from whom they have prospered throughout their growth as US companies. Factually, GE is not exclusive in its ruthless acquisition of profits and growth. Ruthless, because having lost sight of who made them what they are, they recently contracted with Iraq to supply three Frame 9E gas turbines and generators for the 375-megawatt expansion of the Arbil Power Plant, located in Iraq’s Kurdistan region. And, in the process and at the expense of American jobs, GE leadership brags of helping Iraq's economy by hiring and training Iraqies to do what American workers in need during a struggling economy do better than anyone on earth. In addition, GE has advantaged of tax loopholes to leverage their way out of paying a singe red-cent in taxes for what for them was a banner year. Do I find fault that they advantaged tax loopholes? No, for that I blame Congress. What I blame GE for is the fact that after saving huge revenue it hasn't the wisdom to reinvest their loophole tax-windfall into America by creating new jobs right here in their homeland.
Judge for yourself; below is the evidence. I wonder why so many are confused about why Occupy Wall Street continues. If you have not already, please add this to the list of grievances.
G.E.’s Strategies Let It Avoid Taxes Altogether
By DAVID KOCIENIEWSKI – The New York Times March 24, 2011
General Electric, the nation’s largest corporation, had a very good year in 2010.
The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.
Its American tax bill? None! In fact, G.E. claimed a tax benefit of $3.2 billion.
GE Wins Erbil Power Plant Contract
Posted on 07 December 2010. Tags: GE, General Electric, Mass Global
GE (NYSE: GE) today announced that it will provide gas turbine technology to Mass Global Investment Company, an independent power producer, to help meet northern Iraq’s growing demand for electricity. Under the agreement, GE will supply three Frame 9E gas turbines and generators for the 375-megawatt expansion of the Arbil Power Plant, located in Iraq’s Kurdistan region.
“Our mission is to support Iraq’s overall efforts to continue developing and expanding its energy infrastructure,” said Ahmad Ismail, the chairperson of Mass Global. “We are confident that working with a global technology leader such as GE, with its proven and reliable advanced energy technology, will contribute significantly to helping us fulfill our mission, which is in line with the Kurdistan regional government’s initiative calling for the private sector to help meet the energy requirements in this region.” READ MORE
First GE Day in Erbil highlights region-focused partnerships to drive the growth of Kurdistan
PRESS RELEASE Iraq: Tuesday, November 22 - 2011 at 15:57
[Para 6, 7, 8] "With the opening of our office in Erbil, we are further underlining our commitment to support Kurdistan's onward journey of development by bringing our advanced technologies, promoting localization and transferring advanced skill-sets."
Nabil Habayeb, GE's President & Chief Executive Officer for the Middle East, North Africa and Turkey, said, "GE's advanced technologies are a perfect fit to the developmental requirements of the Kurdistan region, and through our public and private partnerships we have addressed some of the real challenges faced by the Iraqi people – be it power shortage or boosting healthcare standards. We look forward to playing an integral role in supporting the Kurdistan Region's economic expansion."
Habayeb continues, "We are confident that we can further strengthen our public and private sector partnerships in Kurdistan, and help the Government in addressing its development requirements. We will continue to support the local Kurdish workforce and create new job opportunities for them." READ MORE
For more than 15 years, I have written resumes and cover letters for local area Floridians. In all that time, I have met with individuals so downtrodden by their plight and others whose strength is admirable. Of it all, that which troubles me most is the political discourse that by its very nature continues to denigrate confidence among the American people that any semblance of a solution or solutions is in the wings.
For me it is not so much the presence of a solution or solutions, it is the lost hope that a solution is possible. I firmly believe, that Washington in its present makeup is incapable, not just of solutions but of leading this country onward, whatever the challenges of the future. Certainly, not a single entity on earth would hesitate terminating the bunch. Why are they still on the payroll?
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