General Electric
By: Kody K
General Electronic
CEO-Jeffrey R. Immelt
General Electronics mission
“We have a relentless drive to invent things that matter: innovations
that build, power, move and help cure the world. We make things that
very few in the world can, but that everyone needs. This is a source
of pride. To our employees and customers, it defines GE.”
Issues in GE’s Past
1990’s●
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Problems of bribery and mispricing began to rise.
After investigation by the Pentagon’s Defense Contract Management
Agency, General Electric is charged with 22 criminal indictments of
the company and some of its sub-contractors, employees.
PDCMA also recovered $221.7 million from the company.
1984 to 2004●
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General Electric moves thousands of jobs overseas in hopes of
reaching new markets and cutting labour costs of their employees.
General Electric cuts jobs down to 6,000 employees at the Appliance
Park, a massive drop from the 1973 number of 23,00 employees
More Recent Issues
2008● GE owns an abandoned building in Bridgeport, CT
● The property was cited in crimes and was a hideout for a 72-year
old thief.
2009●
General electric is charged with violating accounting rules as it changed its original
hedge documents in order to avoid recording fluctuations in interest swaps thus
bringing down reported earnings-per-share estimates.
2011●
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Despite earning $14.2 billion in worldwide profits (including $5 billion from U.S. alone)
General Electric did not own taxes in 2010.
GE criticized for spending $84.35 million on lobbying and not paying taxes from 20082010.
Got $4.7 billion in tax rebates and a profit of $10.4 billion.
Laid off 4,168 workers and raised executive pay by 27% without raise in lower workers
pay.
BIG CONTRACTS - REPEAT
OFFENDERS
In the past 12 years, 30 of the biggest contractors have accumulated more than 400
enforcement cases. These cases resulted in about $3.4 billion in penalties, settlements,
and restitution.
The top 10 firms:
1. GENERAL ELECTRIC with $1 billion for 63 cases
2. TRW with $400 million for 17 cases
3. BOEING with $350 million for 36 cases
4. LOCKHEED MARTIN with $250 million for 63 cases
5. UNITED TECHNOLOGIES with $200 million for 18 cases
6. ARCHER DANIELS MIDLAND with $200 million for 8 cases
7. UNISYS with $200 million for 12 cases
8. RAYTHEON with $150 million for 24 cases
9. LITTON with $125 million for 8 cases
10. CARGILL with $100 million for 8 cases
Environmental History
Pollution
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In the year 2000, General Electric is listed as the fourth highest producer of air pollution in
the United States.
Put an average of 4.4 million pounds of toxic chemicals into the air per year. (2,000 tons)
In 1983, the New York Attorney General Robert Abrams filed a suit to compel GE to pay for a
clean up of 100,000 tons of chemicals that was dumped into Wakeford, New York from their
plant.
In 1999, the company agreed to pay a $250 million settlement.
From 1947 to about 1977, GE discharged around 1.3 million pounds of PCB’s into the Hudson
River.
GE fought media and political battles to avoid the clean up. In 2002, GE was ordered the 64
km stretch of river.
GE also designed the Nuclear power plants in Japan that were destroyed in the 2011 tsunami.
The safety concerns about the plant came up as early as 1972 but nothing was done.
Positive Changes
● Hiring of veterans-Their service made them a leader and a disciplined, strategic thinker
with a level of loyalty that is unmatched. At GE, they recognize and value their strengths, and
that makes them a great choice for your civilian career.
● University programs-GE offers
a fantastic work environment and unmatched
opportunities to build a successful future. GE provides financial support to help people for
educational purposes
● Working Environment-Employee performance can only flourish in a sound work
environment. That’s why we’re committed to supporting our employees through systems and
policies that foster open communication, maintain privacy, and assure health and safety.
Positives in GE
Diversity at GE
With more than 7,000 employees across the country, GE Canada relies on diversity and inclusiveness
to drive our productivity and innovation. Affinity Networks – groups with common backgrounds and
interests – are making remarkable contributions to the company, customers and communities, helping
to build an environment where employees can contribute and succeed.
By GE having diversity in their company it is showing that they value everyone equal and provides
jobs to many people around the world spreading wealth among countries. GE is a transnational run
company-worldwide
Giving Back
For more than a century, volunteerism has been a vibrant part of GE's culture, as both an individual
employee activity as well as an organizational effort. We coordinate our resources — including
products, matching gifts, grants and people — to create responses tailored to local and individual
challenges. Today, the ultimate measure of GE's business is found in the improvements to the lives
touched by our work.
A Helping Hand in Brooklyn
“Developing Health” is a three-year, $50 million program providing grant funding and employee
volunteer support to non-profit health centers across the United States.
Despite General Electrics negative impact on the society there is still good that came. They have
organized a billion dollar organization that has funded education for many people.
The company
General Electric is
based on tax
loopholes. They
are able to avoid
paying taxes and
strict tax
penalties.
This cartoon is also
based on general
electrics avoidance of
tax paying. They are
‘drilling’ through the tax
code by not paying taxes
to the government.
General electric
is known for
laying off large
amounts of
workers at a
time so head
office and more
important people
of the company
can get higher
pay.
Why We Should Boycott GE
1. They don’t pay their taxes.
2. Dump over a million pounds of toxic into the air
each year.
3. Lay off workers so they don't have to pay as
much money to workers.
4. Raise executive worker pay but not the
hardworking employees pay.
5. Own areas of land involved in major crime.
Why General Electric is an Evil
General Electric is an evil company because they are known for avoiding
paying taxes and laying lower level workers off and increasing pay for higher
level executives and important head office workers. General Electric makes
massive worldwide profits and don’t pay any taxes. This means there isn't as
much tax money in the government system. General Electric is also well
known for being very environmentally unfriendly. They play big parts in major
disasters including the one power plant that they created in Fukushima that
leaked around 2 000 tonnes of toxic material. GE was contacted about
problems about the reactor but nothing was done about it. GE is also known
for being involved in crimes. GE had an abandoned warehouse that was a
large criminal hub.