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Posts Tagged ‘General Electric’

GE uranium enrichment plans raise fears: report

August 22, 2011 Comments off

france24

The Exelon Byron Nuclear Generating Stations in Byron, Illinois. US conglomerate General Electric is seeking permission to build a $1 billion plant for uranium enrichment by laser, a process which has raised proliferation fears, The New York Times said.
AFP – US conglomerate General Electric is seeking permission to build a $1 billion plant for uranium enrichment by laser, a process which has raised proliferation fears, The New York Times said Sunday.

After testing the enrichment process for two years, GE has asked the US government to approve its plans for a massive facility in North Carolina that could produce reactor fuel by the ton, the report said, citing GE officials.

“We are currently optimizing the design,” Christopher Monetta, president of Global Laser Enrichment, a subsidiary operated by GE and Japan’s Hitachi, said in an interview with the newspaper.

The US Nuclear Regulatory Commission is expected to Read more…

G.E.’s Strategies Let It Avoid Taxes Altogether

March 26, 2011 Comments off

nytimes.com

A PRESIDENT'S BUSINESS LIAISON In January, President Obama named Jeffrey R. Immelt, General Electric's chief executive, to head the President's Council on Jobs and Competitiveness. "He understands what it takes for America to compete in the global economy," Mr. Obama said.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.

Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Read more…

FEDERAL RESERVE OWNERSHIP LIST

March 12, 2011 Comments off

lawfulpath.com

Most Americans, if they know anything at all about the Federal Reserve, believe it is an agency of the United States Government. This article charts the true nature of the “National Bank.”

Chart 1

Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** – – Published 1976

Chart 1 reveals the linear connection between the Rothschilds and the Bank of England, and the London banking houses which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. The two principal Rothschild representatives in New York, J. P. Morgan Co., and Kuhn, Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914. These firms had their principal officers appointed to the Federal Reserve Board of Governors and the Federal Advisory Council in 1914. In 1914 a few families (blood or business related) owning controlling stock in existing banks (such as in New York City) caused those banks to purchase controlling shares in the Federal Reserve regional banks. Examination of the charts and text in the House Banking Committee Staff Report of August, 1976 and the current stockholders list of the 12 regional Federal Reserve Banks show this same family control.

                                N.M. Rothschild , London - Bank of England
 Read more...

Obama Seeks $53 Billion To Fund ‘Secretly’ Bailed Out GE For High-Speed Rail Construction

February 9, 2011 1 comment

 

 

obama high speed rail system promise to take money from people sad hill news

After secretly bailing out GE and forcing the use of its mercury-laced light bulbs on American citizens, then calling on GE’s chief Jeffrey Immelt to head the president’s economic recovery advisory panel, Obama is going to make sure his bankrupt partners in crime fully benefit from the $53 billion collected from taxpayers by subsidizing GE to build a high-speed-money-burning rail system that no legitimate private sector business would ever touch.

With US Government hemorrhaging $ trillions each year and US Government-run Amtrak hemorrhaging $ billions, what could possibly go wrong?

I’ll answer that. Spending money we don’t have is putting America on the fast-track to global servitude.

(Bloomberg) President Barack Obama will ask Congress next week to Read more…

General Electric Bankrupt 2011

January 7, 2011 Comments off

The numbers are staggering! Over $660 Billion in debt. That is almost the entire US federal bail out package that was passed during the financial crisis last year. All for one, albeit very large, company. That company is General Electric. GE has over 300,000 employees and operates in more than 100 countries. Can it really go bankrupt? The answer is yes!

GE seems to have a history of building debt obligations. GE’s long-term asset base grew $200 billion (or 30%) between 2003 and 2008 when prices were at their highest. Now GE is attempting to sell off many of those assets (when prices are low, but they are desperate for cash so they are forced to sell). In the near term GE has to repay or refinance $240 Billion before the end of 2011.

In March of last year GE lost their prized AAA credit rating from Standard and Poor rating agency. Other agencies have them ranked much lower. John Atkins, a fixed-income analyst at IDEAGlobal.com, said “it remained unclear what the impact will be on GE’s borrowing costs. Even with the ‘AAA’ credit rating, the cost of insuring debt of GE Capital had been in distressed territory recently.” This is a dramatic understatement. In fact, last year, the U.S. government had to guarantee $500 billion in GE’s debt. GE’s interest on its debts are about to soar.

As Porter Stansberry said in November of 2009, with the guarantee, GE only spent roughly $17 billion last year to service its $660+ Billion in debt. That’s an annualized interest rate of 2.5%. This is not sustainable. Sooner or later, GE is going to have to pay a market interest rate. The government guarantee expires in 2011 and that is when you can expect costs to soar.

Currently, the yield on high-yield corporate debt is around 10%. GE is now rated two slots above “junk” by Egan Jones. Assuming that GE could still qualify as an investment-grade credit – (since there is some discrepancy between ratings agencies) GE would pay something like 8% on its debt in a free market.

That would cost more than $52 billion a year. Last year, GE earned $11 billion before interest and taxes – in total. That’s not nearly enough money to pay the interest on its debts – whether they’re backed by the government or not.

Check back tomorrow and I’ll show you one way to play General Electric that has already earned 40% returns in just 2 weeks, but has much more to go.

Ross Williams