GE's Profit Jumps 77%

online.wsj.com... 052748703983704576276564256544634.html?mod=WSJ_hp_LEFTTopStories

Dang ...how ...did ...they ...do ...that?

"Our environment continues to improve and get better," said Chairman and Chief Executive Jeff Immelt on a call with analysts, noting that the restructuring of GE Capital was ahead of plan while the quarter saw a record backlog of orders for its industrial products and services.

I bet their "environment" got better. Insiders at the White House, global warming rules that funnel buyers to certain light bulbs, shipping jobs to China, and paying no taxes.

I thought Bush years were bad with the cronyism. This is blatant, in your face stuff. I thought the government wanted to tax the "rich", it turns out they just want to tax possible competitors to the connected.

Well actually...

GE paid plenty of state and local taxes everywhere they operate. They simply paid not federal income tax, they got a refund actually. The reason behind that is that Obama's new green energy plan included tax breaks for companies who were investing heavily in greener technologies and that sort of thing.

GE is actually a leader in that area, hence why no federal taxes. And yes Green Energy actually CAN make you money if you are successful in selling and implementing it. That's what GE is doing at the moment. They are also a media conglomerate as well.

~Keeper

its because fast 5 came out this week. their stock has been on a down tick today.

There should be no reason a company that made 14.6 billion last year should not have to pay taxes, I don't care what they did.And to top it off they got a 3.2 billion dollar return.There are too many people struggling to survive on what they make,and they have to pay taxes.People making less than 50,000 a year shouldn't have to pay taxes at all. Companies like GE should have to pay more to make up the difference.I wonder how many other big companies pay no taxes?

reply to post by tothetenthpower


"...everywhere they operate..." So local or state governments never offered the same tax break to GE facilities anywhere they thought about moving a plant in the US?

"...the reason is Obama's new green energy plan..." Obama has been in office for only a couple of years. GE has been off-shoaring its profits for some time prior to that. They are more like a text book on how to reduce their US tax burden among multinationals.

Indeed there is profit to be had in the "Green" arena if done in a skilled fashion. I fully support better use of limited resources. But I cannot buy that GE should not pay taxes because they make energy efficient light bulbs.

reply to post by Vikus

Dang ...how ...did ...they ...do ...that?

!@%$! over all the common share holders (including most current and retired workers) .. tanking pension funds, and screwing over bond holders. And the Government using tax dollars to bail them out for free, not to mention waste billion in tax dollars giving americans free checks if they bought an American car..

Yay capitalism... scratch that.. yay Fascism ..