In a surprise announcement this morning, General Electric stated that it will move engine production from Waukesha, WI to Canada. The move will cost 350 jobs in the district of the current House Ways and Means Chairman Paul Ryan’s (WI-R).
Blaming the unwillingness of the House to extend the charter for the Ex-Im Bank for the shift in production, GE declared “our customers in many cases require Export Credit Agencies financing.”
But GE isn’t just moving jobs to Canada, it’s building an all new state-of-the-art plant and plunking down $265 million to do it.
So GE made the decision to spend $265 million in Canada because the Ex-Im Bank didn’t get reauthorized this summer? If the Ex-Im Bank had been funded was GE going to locate the plant in Waukesha? BULL
This isn’t the first time GE has tried to blame jobs moved abroad on the Ex-Im Bank non-funding and not the first time they’ve been called out for lying about their true motives.
Here’s a statement from a Wisconsin Assembly member stating that GE actually invited him to pile on blaming Congress and not the giant corporation for the business move.
The case against the Ex-Im Bank Here and Here .
I stopped buying GE crap years ago.
Isn’t Canada a third world country?
THAT a way to suck up to your constituents !!!
http://www.breitbart.com/big-government/2015/09/29/trump-tax-plan-majority-millennial-women-hispanics-blacks-pay-no-tax/
sTRUMPets, what say YOU??
http://theconservativetreehouse.com/2015/09/29/about-these-tax-plans-establishment-republicans-have-a-george-w-bush-tax-the-rich-problem/#more-106651
TRUMP 2016!!
As I recall CEO Jeffrey Immelt was Barky’s job czar. GE has been a political cronycap for a whie.
Didn’t they make a big move to China a bunch of years ago?
GE bought that engine plant back in 2011 when Imelt was Obama’s chair of his economic brain trust (or what ever the heck the phony baloney photo opt was called). There are numerous pictures of Obama stopping off at the Waukesha plant for campaign pics.
Basically, they used the 360 jobs to get Obama reelected and then GE moved the operation to the new plant in Canada when there was no need anymore for those quick campaign stop in Rust Belt America.
GE, thy name is Crony Capitalism. And thou suckest. A big one.
Jeffery wanted something for getting his knees dusty. Alternating the direction he faced. Obama showing up at a manufacturing plant was/is an omen of pending shutdown. I think it happened every time he showed up for a photo op parroting the teleprompter saying everything is swell.
@Tim, yep GE moved their world headquarters for GEM, GE Medical, to China from Milwaukee several years ago. The local GEM field engineers claimed the Milwaukee facility reminded fully functioning and only a few managers and design engineers were actually in China. It was no big deal. I didn’t believe them. Believing they fell for the line pushed by their managers. Maybe they also moved other businesses too.
It’s pretty low overhead cost there. If a worker is injured and can no longer work, he is fired and is no longer a financial burden to the company. No requirement to provide medical care for the injury. How do I know this? I worked for a competing company and I once had a classmate from Shanghai, and he explained that is how it works there. Get hurt and there are 10,000 people waiting to take your place. You’re dumped with no disability or other unemployment options to help you recover from a work related injury and to survive till you find something new that you can do.
Isn’t Canada a third world country?
Not quite yet, but our various liberal-socialist and eco-socialist coalitions, financed by Soros dollars, are working on it. Check back in a month’s time after the federal election.