General Electric CEO, Jeffrey Immelt, who President Obama chose as the head of the so-called Council on Jobs and Competitiveness has decided to relocate GE’s health care division to China.
GE Healthcare which is the largest producer of medical imaging technology in the world is will be moving their headquarters from Waukesha, Wisconsin to Beijing.
According to the division’s general manager, Anne LeGrand, recently told Bloomberg.com that the move is part of a large scale plan to invest $2 billion across China.
GE plans to open six, “customer innovation’’ and development centers in the country that has become America’s biggest creditor.
LeGrand also said that GE had already hired a “large number” of engineers in China.
The official unemployment figure given monthly by the U.S. Bureau of Labor Statistics is now listed at 9.2 percent, but represents only those Americans currently receiving unemployment checks, and is not truly indicative of the dire employment situation now facing the U.S.
The more complete figure represents Americans who have been laid off from full-time positions and are now working part-time, as well as those who have simply stopped looking for work, and workers whose unemployment benefits have run is nearly 20 percent (http://www.marketoracle.co.uk/Article27039.html ).
In 1931, the second full year of the Great Depression, the average rate of unemployment was 16.3 percent, with U.S. unemployment peaking at 25 percent in 1933. We now sit in between those two disastrous figures, with an ever-worsening economy.
With U.S. unemployment now at depression levels, it is simply unconscionable for the man who Obama has chosen to supposedly create new jobs in this country, to now export jobs overseas.
Interestingly enough, it was recently learned that though GE posted $14.2 billion in profits last year, the company did not pay one dime in taxes…So, you could say that the taxpayers (A group of whom GE is not a member.) are actually financing this new venture in China.
Of course, you will not hear about this story on MSNBC…which is owned by General Electric.
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