Email from a friend- re Jeff Immelt

[BenFox]

2. Email wrong about GE, a job creator

Thank you for the opportunity to respond to some inaccuracies in the chain email you reference.

The fact is that GE did not move its X-ray operation to China, but we did move four executives from Wisconsin to China. The rest of the business stays here. Having a presence in growing markets is critical for GE as we look for ways to create jobs at home through exports (GE is a net exporter to China).

The email is also wrong about GE’s taxes. The truth is that GE paid $1 billion in federal, state and local taxes in the U.S. for 2010. Our tax rate was low because GE lost billions of dollars as a result of the global financial crisis. We expect that our tax rate will be higher for 2011 as our business recovers. Like most Americans, we believe the U.S. tax system is in desperate need of reform, which includes closing loopholes.

GE is one of the largest private employers and the second-largest exporter in the United States. During 2011, GE announced the creation of more than 8,000 new U.S. jobs, bringing total new jobs added since 2009 to more than 13,000. These jobs will fill the 16 new U.S. factories that GE is building or rebuilding in the U.S. GE currently has nearly 2,000 U.S. job openings posted on its gecareers.com site.

Thanks again for the chance to clarify some inaccuracies in this chain email.

Ben Fox
GE Healthcare
[e-mail]