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Former Obama Jobs Tzar Immelt Threatens To Offshore GE Jobs If Ex-Im Bank Bill Expires
Submitted by Mike Krieger via Liberty Blitzkrieg blog,

Another year has come and gone, and it’s once again time to face the issue of a crony capitalist favorite: The Export Import Bank, also known as the Ex-Im Bank. Last year, I covered the contentious battle, which of course was ultimately won by powerful multi-national corporate interests. Here’s an excerpt from the piece, Officials at the Ex-Im Bank are Under Investigation as it Fights for Survival:
I think the most important aspect of this entire fight is the fact that on opposite sides of the debate are not Democrats versus Republicans, but once again Republicans vs. Republicans (as in the Dave Brat vs. Eric Cantor race). We again see tea party Republicans facing off against establishment RINOs. On one side we hear claims by the tea party wing that the Ex-Im merely serves as a conduit for crony capitalism and favoritism to large corporations, or those willing to bribe officials. On the other side, we see establishment Republicans, who are extremely cozy with mega-corporations, maintaining that the institution plays a crucial role in financing American exports to make them competitive.
Looking at this paragraph a year later, we have seen the revolting display of RINO Republicans pushing through the sovereignty destroying, corporate crony giveaway know as trade “fast track” of the TPP. We can once again marvel in disgust at how completely bought and paid for these establishment crooks really are.
Anyone with a remotely functioning brain will by now be aware that America is an oligarchy, not a democracy. In fact, a recent academic study by Princeton and Northwestern University found that the desires of the public have absolutely zero impact on public policy. What does have an impact is money. Lots and lots of money. This is where billionaire oligarchs and CEOs of large multi-national corporations come in, as they arrogantly throw around their clout to advance their wealth and power, and further drive the unwashed masses into hopeless serfdom.
GE’s CEO, Jeff Immelt, is a perfect example. This is what he had to say recently at the Economic Club of Washington. From Reuters:
General Electric Co Chairman Jeff Immelt warned on Wednesday that the company would move manufacturing jobs to Canada and Europe if the Export-Import Bank closes and that U.S. economic influence will wane if Congress blocks a major Pacific-rim trade pact.
Naturally, he fear mongered about the TPP at the same time. A double dose of crony corporate greed.
Speaking to business leaders at a luncheon of the Economic Club of Washington, Immelt said U.S. companies need market access and financing tools to help level the playing field in an “economic war for exports.”
The charter of the Ex-Im Bank, the U.S. government’s export credit agency, will expire on June 30, blocking it from writing new loans and trade guarantees, unless Congress acts to reauthorize it.
“In two weeks the U.S. will have neither trade deals, nor an export bank. And at that point we’re going to be in full retreat on the global economic stage,” Immelt said.
Well the American middle class has been in full retreat for more than four decades, but you don’t see Immelt too bothered by that.
“Good GE jobs in the United States will be moved to Canada and Europe. That’s a mighty high price to pay for ideological purity,” Immelt said.
Kind of reminds you of:

Hotair provided some solid analysis on this issue:
Immelt’s remarks were delivered at The Economic Club in Washington, DC and he was taking the same line we usually hear from Boeing. (The airplane manufacturer remains the largest beneficiary of the bank’s largesse with your tax dollars.) And the sad part is that, in a perfect world, there’s actually an argument to be made for some of the benefits of the program. Any time we can manage to increase our exports without giving away the ranch to other nations, that represents a net gain here at home in terms of jobs and injecting some juice into the domestic economy. Helping foreign buyers arrange financing achieves those goals.
But the flaws and potential pitfalls in the system are simply too big to ignore. First of all, Ex-Im was supposed to be giving a leg up to small businesses who want to expand their markets overseas. The reality quickly became something very different though, with some of the largest corporations scooping up most of the benefits. Also, there is the question of potential defaults. It’s true that the bank has a fairly good track record when it comes to customers making good on their debts, but in the event that one of them doesn’t the American taxpayer is on the hook for covering the losses. This creates an exposure for us in the event that a sudden, dramatic economic downturn which hits large portions of the industrial and developing world could result in many more defaults. The entity being “saved” in a case like this isn’t the US government… it’s a private business which should be responsible for shouldering their own risks.
If you work for GE, take close note of the despicable behavior from your CEO. You, your livelihood and your family’s well being mean nothing to Jeff Immelt. In fact, you’re nothing more than an easily expendable cog in his corporate game to accumulate even more wealth and more power for himself. He talks about you like you are chips on a poker table.
You have been warned.
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Instead of trying to build newer and bigger weapons of destruction, we should be thinking about getting more use out of the ones we already have http://www.philiacband.com/propaganda.html
I concur, Capt. GE should improve upon this....
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I hope the president pulls their bluff and shuts em down...
This country needs a president with some balls & brains damn it!
M-Fucker! Don't let the door hit you in the ass on your way out!
Immelt moving his way up on the list of the Crony Capitalist money grubbing scumbags to string up from a lamp post.
I vote being drawn and quartered for Immelt.
Yes, I'm talking to you asshole!
Rot in HELL!
No, you don't get it. The president HIRED this guy.
Hahahahaha, thank you for a belly laugh this early in the day. If you think any President isn't controlled by these assholes you need to see a doctor
The President? Immelt and the President are best buds. And besides, this is a fight in the legislature now.
GE pissed me off in 2008
haven't bought any of their parts or products since...
don't fck with this consumer...
I had an applicance repair guy at my house a few years back. Turns out GE had to make good on a lawsuit for tens of millions of dollars on defective appliances. So they of course did not want it to come out of their pockets, so they doubled their parts repair prices. After about a year, they made the money back. But they decided to continue to charge double anyway for all their spare parts and continued the price hike. I guess they figured "why not?" After all, you don't know this when you buy the appliance. The guy said at the time they were about double of every other manufacturer. Knowing that they would screw me like this has me warning everyone about GE. I tell them, buy anything BUT.
William, you are a pisser!
Are you a self motivated hard working individual and you want to be in charge of your own income. Make $500 -$2000 weekly easy. Join my money team. No scam no bull... www.earnmore9.com
Publicly post your tax return so we can see if you are full of shit. Thanks.
Never been a better time to learn long-range shooting....
No worries! There are plenty of bartender and waitress jobs!
For now, but I wouldn't bank on any job security being anywhere to be found in the near future...
(Unless of course you have a means to secure some serious business online that is...)
I say this because they may likely move to tax the shit out of everything we consume & very soon too, I mean what good would a bartender job be if all of the drunks were forced to pay excessive money for taxes on alcohol? Wouldn't they all just simply start drinking at home? Aren't most of the bars dying for business now anyway?
This broke government of ours is trying to barter with some corp. bastards who would never give us a serious slice of their corp. pie ever, indeed the only way to put an end to stuff like this is to simply file treason charges on his candy ass, revoke his citizenship and guatamano bay his ass just for threatening economic terrorism...
Label him a terrorist, because that's just what this GE head wig is...
I wonder if it would be illegal to crowd fund bounties? Get the ZH legal department on this stat.
Bit coin to the rescue!
Ain't nothin' but a bitch-ass motherfuckin' welfare queen!
Perhaps a crowd funded donation to a charity in the heros name? Maybe some would like to make a positive legacy for themselves.
define the word "hero", because we seem to have cheapened the name.
Chris Kyle, Hero?
Bruce Jenner, Hero?
John Corzine, Hero?
Trauma room doctor who doesn't give a shit what color you are or if you can pay your bill, Hero?
Real heroes are hard to find, they aren't the glamor lovers, the high money rollers, they are the people out there working hard to help people, and I do mean truly help people without expecting anything in return... (Yeah, you'd think they don't exist, but they do I assure you.)
"Real heroes are hard to find"
Nope, There is a Greek resturaunt across the street that sells them. Real authentic hero sandwiches! :)
The zioNWO is coming into view.
At least the nice joowish man will leave the not-so-good jobs right here in the land of free/brave.
Ha ha ha. When the Democrats, Trade Unionists, Socialists and Leftists pushed to put all the power in the government's hands (starting with Roosevelt) they never saw this coming. I wonder why. Did they think the big interests would let themselves be exploited by the government and never push back?
The Republicans are no better. They sold us ALL out today with Obola and the Dems on TPP, TPA and TISA> They are all scum. CON-Gress sells out Americans on a daily basis and the GOP goes in lockstep with what Obola's bosses want.
Don't forget folks that GE pay no income taxes.
They had to get backstopped a few years ago by Uncle Sam because their debt was going to start falling apart with credit default swaps then the debt downgrade.
They have always been a scum company. I once called HQ about a piece of real estate they had for sale. The ZH Tyler Don Corleone analogy is spot on. Talking to these Wharton grad scum bags in Stamford,CT was about as cordial as speaking to Luca Brasi. Real scum who acted like mobsters or scum who backed nazis (as they did) in WW2 along with Watson over at IBM.
Those senators don't even bother reading the laws they pass, they're just a bunch old men asking for donations from the people who are really running the show, and we all know who those people are...
(The Bankers, Mega Corps, and organizations with more money than you could shake a stick at, aka AIPAC.)
Immelt on Charlie Rose. Hard to tolerate due to the constant interruptions by Rose, as usual, but still worth a look.
http://www.charlierose.com/watch/60576676
I used to call on GE for my sales job; their position was that they shouldn't have to pay anything since it was a privilege doing business with them. After they J'd us down to a lowball price they would never pay their bill due to some minor service issue, sometimes a total lie. There r some companies you don't do business with but they were the worst I ever encountered.
Ha ha ha. When the Democrats, Trade Unionists, Socialists and Leftists pushed to put all the power in the government's hands (starting with Roosevelt) they never saw this coming.
Prior to the labour reforms circa FDR the middle class didn't even exist in the US&A. That period lasted a remarkably long time, starting to have issues in the 80s but only seriously faltering in the 2000s after the crash.
Proceeding FDR America was like todays india (without the population problems).
Meet and Greet:
https://www.barrett.net/firearms/model82a1
Immelt is now and always has been a cunt. Hope you die fuckface
Seriously, why is he still a CEO. He's an incompetent tool.
I do not like Jack Welch bit he had a PhD in chemical engineering and was not stupid. Immelt and is Harvard MBA and a total douchebag. They are all crooks.
The only real engineering going over there is the balance sheet and income statement. How many major rivers did they pollute in NY with PCBs?
How is that Fukishima thing working out as well. The fUxx could barely make toasters.
"GE- We bring good things to life."
http://featuresblogs.chicagotribune.com/photos/uncategorized/jericho.jpg
Who knows if Trump is really running this time. But if so, his solution is the same as has been used before. Slap a 25% tarrif on every single good coming into the USA from countries whose currencies are severely undervalued until they come to the table to renegotiate the trade deal. Only person that is currently in the field of people running who gets it. It'll take a week or two and all of a sudden you'd see China raise the value of the currency as their entire economy would implode otherwise. They need us more than we need them.
.
At least Trump understands how business is working today and is willing to stand up to all the companies that have moved jobs overseas, and expect to sell them in the U.S. without fear of tariffs.
It'd have no effect. The companies would go to their TPP corporate court and get compensated dollar for dollar.
I suggest the author research the meaning of the phrase
"Fiduciary Responsibility to shareholders"
Do Immelt's compensation package and golden parachute fall under the scope of fiduciary duty to the stakeholders, or did Obama grant him one of those special waiver thingys? What a hypocritical ball of fuck that guy...
The media sock puppets will be replaced. CNBC Squawk box will become another level of entertainment. Steve Liesman and Jim Cramer will be replaced by Monks reading stock market tea leaves. Welcome to Fast Track and TPP.
/LMFAO.
The network has already become an infomercial site with CEOs talking their book at every turn. Just 5 to 10 minute free commercials for goofy software companies and social networking add-ons. Boring....
Spot on, coon.
http://m.youtube.com/watch?v=bLiX5d3rC6o
Goodbye fuckface liberal media happy face. Next your voice will be blocked out or we can recreate a spoof using the cutting edge software.
The days of chasing a leprechaun will be the peak of your career.
Leprechaun in Mobile, Alabama http://m.youtube.com/watch?v=nda_OSWeyn8The miscalculation of the Self-Absorbed -- the Narcissist and Sociopath -- can be predicted.
Watch what happens when the Immelts finally destroy the host to a critical point, and the host finally recoils -- all in time to preserve not only the Idea, the Principles, and the Law, but the human capital ready, willing and quite able to recover from the Immelts.
Likely a messy affair, but a true one.
Arrest him and redistribute his stolen wealth. Fascists shall not exist in the future.
Why would the State arrest him?
Arrest him. Charge him with treason and then, rendition him to the Gulag.
Work out the reasons later. Oh, wait a minute he would not have the right to an attorney. Foolish idealism, indeed.
GE. They fuck you when your business is doing good but fuck you even harder when business is bad.
Bring on the meteor. Aim it at Immelt. He's not just a cocksucker; He's an ARCH cocksucker.
I think GE has not paid any corporate taxes for many years now...uses deductions and loopholes to the max...
... er ... If you work for GE you get everything that you have coming to you, because you are complicit in this BK organization's behaviour since the sainted Jack Welch was tapping the GE RE funds to make the straight line stock moves of the '80s and '90s happen.
In Sept. '08, when the meltdown happened, GE Capital froze, GE corporate couldn't make the payroll, and ol' Snowflake hissef came to the rescue with a $5BB bailout (thus disproving the fully invested meme among the sheep financial advisors).
Immelt was fucked and rather than do the responsible thing, he placed his testicles into Our Dear Leader's lock box for the duration.
Proof of the above is in a) Barrons' articles that Jack 'n' Jeff attempted to deny and b) the fact that GE has paid no taxes in lo these many years. And, oh, btw, ol' Jeffie had to pay back the piggy bank (I hate that term!) to the tune of ~$9.2 BB when GE RE was divested to Swiss RE because ol' Jack thought that the RE funds would never be tapped. The head of GE Capital, that eventually dragged GE to BK thought he should have been the chair-guy when young Immelt of the seven or nine crackberries constantly going off aced hissef out.
- Ned
If the dollar is really up on "exit," then a large firm like this needs an excuse to move their HQ and facilities to friendlier climes, while masking their other moves.
They could, because of taxes, the IM/EX Bank thing, etc., say they are moving their HQ to, say Texas, then use the move to mask large layoffs form HQ, while they really shift HQ functions over to Europe.
We shall see.
Liberty is a demand. Tyranny is submission..
General Electric Co Chairman Jeff Immelt warned on Wednesday that the company would move manufacturing jobs to Canada and Europe if the Export-Import Bank closes and that U.S. economic influence will wane if Congress blocks a major Pacific-rim trade pact. "
Sooner or later...
m
The modern definition of a free trade agreement -
"As a CEO, a free trade agreement allows me to obtain low cost loans within the US so that I can shut down my US factory and build a new one in Asia where my costs will be at least 30% lower. The beauty of having a signed free trade agreement in place, is that I know that I can ship my Asian-made products back to the U.S. to sell them - without any fear that the U.S. will place any tariffs on my product."
Welcome to Fast Track and TPP Crony hell on steroids
"Fiduciary Responsibility to shareholders" how about mailing address for a free nail gun and a map of tall buildings in Stanford. The 2015 the sale of most of its finance unit and return around $90 billion to shareholders LOL Jack Welsh and ken Lay has done more to ruin this country and makes matters worse is the narrative and lack of imagination and war profiteering of central planning (yea sockpuppets) . You will never know the Saudi GE plastic deal or the Met Life insurance reserves to Home Depot credit cards (now Synchrony). These kinda things effect the vast majority of non crony hard working folks in a desperate state. You have this but David Stockman documents the 2008 commercial paper thief.. Tradition of Edison's treatment of Tesla and the CNBS propagation of welfare .1% and warfare... No I am not a socialist but this is Fascism plain and simple.
Now from Wikipedia
Controversies and criticismThe six reactors in the 2011 Fukushima I Nuclear Power Plant catastrophe had been designed by General Electric. Their design had been criticised as far back as 1972.[63]
In March 2011, The New York Times reported that, despite earning $14.2 billion in worldwide profits, including more than $5 billion from U.S. operations, General Electric did not owe taxes in 2010. General Electric had a tax refund of $3.2 billion. This same article also pointed out that GE has reduced its American workforce by one fifth since 2002.[64]
In December 2011, the non-partisan organization Public Campaign criticized General Electric for spending $84.35 million on lobbying and not paying any taxes during 2008–2010, instead getting $4.7 billion in tax rebates, despite making a profit of $10.4 billion, laying off 4,168 workers since 2008, and increasing executive pay by 27% to $75.9 million in 2010 for the top 5 executives.[65]
In November 2014, Synchrony Financial, formerly GE Capital, came under investigation by the Justice Department for over potential bankruptcy violations.[66]
Between March 1990 and February 2001, General Electric was fined or ordered to pay damages by a court 42 times, amounting to at least $934,027,215, according to a report from the Multinational Monitor.[67]
I think it would be great if GE offshored their executive offices and lawyers.
If they do, I predict they will be offshored to somewhere like Gstaad, the Caymans, St. Barts, Monaco, or Corsica.
Give us everything or we'll make it worse....
The Banks threaten to crash the economy if there was no bail out why not everybody.
Fuck you Obama, pay off my visa bill or I will consume less!
Hey Jeff! Tell Jack ("the cheater") Welch Fukushima's one hell of a job machine! If you only had a brain, courage and a heart. I hear you're a snazzy dresser now though. I guess that's something.
Why should the tax payers finance G.E.?
The reptiles now show themselves, with impunity. The reason we had 2008 is to remove economic power from amerika's middle class, we will beg immelt and those like him for a third world job.
Free Trade TPP is but another tool to destroy the middle class, the reptiles have decided they do not need us .. millions in china india south america buying less off set the USA economy.
American military must remove .gov and bring to trial the ceo's and members of the CFR and FED ...only in my dreams..your best weapon is your mind..stay low, take what you can, avoid taxation, sabatage what you can.
the war on the people has been declared, most of us don't know it yet. no election in 2016, just a show and appointment of a figurehead like H clinton (for TPP now), corrupt pol willing to do anything for power and money.
"They LIVE"
Didn't Boeing recently make the same threat? Also having to do with the shuttering of the a Import Export Bank.
Watch closely as your elected destroy you economically for the sake of cheaper foreign workers. Unbelievable
I'm doing just fine, flipping burgers and feeling better than I have in years , without all that stress weighing me down.
--Former GE VP of Domestic Production
They’re showing their hands now, and it’s time to cut their fingers. Immelt is an internationalist; he’s not an Americam. And he has no right to any kind of economic break or help from Americans.
The point is, he’s a private business man but the other internationalists are government officials, like Stanley Fischer.
You know what? I don't blame GE. I mean do you really expect them to do business in this facist country? Why the hell should they? I would want an incentive to do business here if I didn't have to too. If our government didn't make it god awful to run a business, no one would need an ex-im bank, but as usual everyone gets the shaft except for the multibillion dollar corporations because their lobby is way bigger than ours aka the little people.