General Electric CEO, and Obama’s top economic advisor outside of his own administration, announced GE is moving the headquarters of its health care X-Ray division from Wisconsin to Beijing, China.
The company said only a few of its top managers would move to China, and that it expects no job losses at its Wisconsin office, that has 120 employees. GE Healthcare will however hire 65 new engineers and other staff at the new Chengdu facility.
In other words, the 65 new jobs will not be created in Wisconsin, and the 120 working there now will…what? Be reassigned? Guess that will teach Wisconsin Republicans to elect a fiscally responsible Republican governor.
While the company reported no job losses in the U.S. stemming from the move, President Obama and Jeffrey Immelt are likely to face flak, since Obama appointed Immelt the top outside economic adviser and charged him with running a jobs-focused panel to help bring the U.S. economy back on track.
GE came under scrutiny earlier this year after The New York Times reported the company did not pay any taxes in 2010. It has since been reported that GE had not finished its tax filing, and that the company expected to pay taxes…
Immelt has also been criticized for employing 36,000 more people abroad, than in the U.S. and cutting 34,000 American jobs after becoming CEO, according to The Huffington Post.
Earlier this year, Obama appointed Immelt as his administraton’s token “businessman:”
And Obama’s kind of corporation: GE, which marches in sync with government, pocketing subsidies, profiting from regulation, and lobbying for more of both.