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‘Intellectural Styles of the Rich and CLUELESS’ – Krugman

Via: New York Times

Oh, my. Jeff Immelt, who President Obama for some reason appointed to head his job creation panel, insists that what’s good for GE is good for America:

‘I want you to root for me. Look, every one in Germany roots for Siemens, everyone in Japan roots for Toshiba, everyone in China roots for China South Rail, I want you to say, win GE.

I think this notion that it’s the population of the US against big companies is just wrong.’


We’ve all grown together! Or, actually, not. (see graph)

Also, GE isn’t in any important sense an “American” company. More than half its employees are overseas. I’m sure Immelt would claim that this is just what he needs to do to compete; but in that case, he can’t have it both ways and also demand that we cheer for GE as an American champion.

Awesome cluelessness. And this is the head of a job-creation task force in a Democratic administration?



October 12, 2011 Posted by | Uncategorized | , , , , , , | Leave a comment

Gaddafi’s Son, toured U.S. in weeks before Libya conflict

A son of Libyan leader Muammar Gaddafi toured U.S. ports and military facilities just weeks before he helped lead deadly attacks on rebels protesting his father’s authoritarian regime.

Khamis Gaddafi, 27, spent four weeks in the U.S. as part of an internship with AECOM, a global infrastructure company with deep business interests in Libya, according to Paul Gennaro, AECOM’s Senior Vice President for Global Communications. The trip was to include visits to the Port of Houston, Air Force Academy, National War College and West Point, Gennaro said.



I’m VERY SURPRISED it was AECOM and not GE; I mean considering how well the Gaddafi family is at squirrelin’ money away.

General ‘imagination at work’ Electric; Paid NO FEDERAL TAXES in 2010′

GE’s success at avoiding taxes is nothing short of extraordinary.

– The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore.

– In fact, GE got a $3.2 billion tax benefit.



IF you want to close the deficit, and who doesn’t; STOP the corporate tax loopholes!



March 26, 2011 Posted by | Uncategorized | , , , , | Leave a comment