RUSH: General Electric, their big CEO Jeff Immelt, he's out there telling all these people, "You better hire people," went to the Chamber of Commerce, "You better hire people. Stop complaining about government." GE has fired 50,000 people the last three or four years. And now, General Electric with its CEO telling everybody in business, "You better start hiring people. You better stop complaining about government," they're moving their global X-ray headquarters over to the ChiComs and thereby they will escape further US taxation. The General Electric CEO is on Obama's private sector job creation commission or whatever. I think what they ought to do, if they're gonna move the X-ray unit over there, move MSNBC over there.
But Rush doesn't tell the whole story. According to Boston.com, from which Rush got this story:
General Electric Co.’s health care unit, the world’s biggest maker of medical imaging machines, is moving the headquarters of its 115-year-old X-ray business to Beijing.
“A handful’’ of top managers will move to the Chinese capital and there won’t be any job cuts, said Anne LeGrand, general manager of X-ray for GE Healthcare. The headquarters will move from Wisconsin amid a broader plan to invest about $2 billion across China, including opening six “customer innovation’’ and development centers.
The division should have “double-digit’’ growth rates as the country converts from film and analog to digital X-ray technology, LeGrand said.
GE Healthcare, also the world’s biggest maker of magnetic resonance imaging and cardiac tomography scanners, got about $1.1 billion of its $16.9 billion in sales from China last year.
The X-ray business, whose financial results aren’t reported separately by GE, will hire 65 new engineers and support staff at a new Chengdu facility, the company said. GE has hired “a large number’’ of engineers who are in training, LeGrand said. GE, based in Fairfield, Conn., also has a global research center in Shanghai.
“Over the next five years, China will be GE Healthcare’s most important growth market,’’ said Rachel Duan, the China unit’s chief executive.
About 60,000 people work at GE Healthcare globally.
So there won't be any job cuts, but there won't be any new jobs in the United States, either. No...China gets those jobs. I wonder how much the workers will be paid?
But again, China is a burgeoning market for this technology, so it only makes sense that they have offices there.
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