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Thread: GE moving X-ray business to China

  1. #31
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    Re: GE moving X-ray business to China

    Quote Originally Posted by Μολὼν λαβέ View Post


    Wasn't/Isn't G.E.’s chief executive, Jeffrey Immelt, the chairman of the President’s Council on Jobs and Competitiveness? I guess he's getting out before he has to start paying taxes. This should be great for the 2012 campaign. Even paying no taxes could keep Obama's business buddy from moving business interests to China.

    GE's slogan should read: Progress to China is our most important product.

    Obama's been in the back pocket of GE for awhile now ... and GE have already profited by it .. . now they are just hedging their bets because they aren't sure they can get him elected again

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    Re: GE moving X-ray business to China

    Quote Originally Posted by Ikari View Post
    Yes, but at the same accord we hear the same tired montra of "punishing the rich" and if we just gave more "tax breaks" we'd get more jobs. But that didn't pan out, did it? They took our money and then when they were in the place to repay, they renigged instead. So **** them. Next time, their company can suffer the slings and arrows of the economy and if they come running again with their hands out, we should tell them "tough titties". [/b]Let the market kill them off, there will be another company to take its place. Too big to fail?[/b] We shall see.
    I will kiss your ass, if you post the link to any post, of mine, where I said that the rich need more tax breaks. There's an additional ass kissin', if you post the link to any post of mine where I approved of bailing out any company.

    Now, get busy, you're going have to fix a lunch for this one.

  3. #33
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    Re: GE moving X-ray business to China

    Quote Originally Posted by The Barbarian View Post
    Obama's been in the back pocket of GE for awhile now ... and GE have already profited by it .. . now they are just hedging their bets because they aren't sure they can get him elected again
    Oh, they know that mother****er isn't getting re-elected.

  4. #34
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    Re: GE moving X-ray business to China

    It's more of the same story. Corporatism. Corporations are loyal to the strong currency! It's good business! It's good for shareholders! Oh, I forgot, they have more rights than living, breathing voting citizens because we only get one vote for a Representative or Senator but they can own their own. That'd be lotsa votes, eh?

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    Re: GE moving X-ray business to China

    I think this is a good move. A nation of 1biilion and a developing market. If GE doesn't move in and capture the market someone else will.

    GE said it doesn't expect the move to result in any job losses in the U.S., where the unit has been based in Waukesha, Wis. The Wisconsin X-ray division has 120 employees. The company also said it is too early to say how many employees it will hire for the unit's new Beijing headquarters.

    "As the company grows more global, it's increasingly important for us to become close to our customers," Ms. LeGrand said, adding that she expects 20% to 25% of GE Healthcare's X-ray products to be developed in China during the next three to five years for sale around the world.

    As China's market has boomed for a range of products, a small but growing number of companies have moved senior executives to the country or sent them for extended stints. Intel Corp. in May said Sean Maloney, one of its best-known senior executives, would move to China from Silicon Valley to oversee the chip giant's operations here. Bayer AG unit Bayer Healthcare moved its general medicine headquarters from Germany to Beijing in March, and Starwood Hotels & Resorts Worldwide Inc. of the U.S. temporarily moved its headquarters to Shanghai for five weeks starting last month.

    GE has long placed high hopes on China, with CEO Jeffrey Immelt in 2008 calling it the company's "second home market." In January, the company finalized a deal with state-owned Aviation Industry Corp. of China to inject much of GE's civilian avionics business into a 50-50 joint venture based in China.

    The U.S. conglomerate has struggled to achieve its growth ambitions in China, though. GE's revenue in the country totaled $5 billion last year, down from $5.3 billion in 2009 and short of the $10 billion the company had targeted for 2010. The company expects its health-care revenue in China to rise 20% annually through 2015, from about $1 billion in 2010. Ms. LeGrand declined to disclose revenue figures for GE Healthcare's X-ray business in China or globally.

    GE Healthcare, known largely for its diagnostic equipment such as CT scans and magnetic-resonance-imaging machines, has been increasingly focused on growth in emerging markets such as China, where governments are spending to beef up medical care. In China, where it employs some 700 engineers, it is focusing on developing more affordable products aimed at inland and rural community health clinics.

    Last year, GE invested a total of $2 billion in China, $500 million of which was allocated to what it calls customer innovation centers. Ms. LeGrand said most of that chunk was for the X-ray business. GE Healthcare last year launched the Brivo CT, a scaled-down CT scanner for use in China's less-developed primary-care hospitals, and in 2009, it rolled out a lower-cost digital X-ray device called the Linglong for China.

    China's central government increased its budget for spending on public health by 16% this year to $26 billion. In March, it allocated 76 billion yuan ($11.78 billion) to improving health-insurance coverage and increased insurance subsidies to 200 yuan a person, up from 120 yuan.

    GE Moves X-Ray Leaders to Beijing - WSJ.com

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    Re: GE moving X-ray business to China

    Quote Originally Posted by DaveFagan View Post
    It's more of the same story. Corporatism. Corporations are loyal to the strong currency! It's good business! It's good for shareholders! Oh, I forgot, they have more rights than living, breathing voting citizens because we only get one vote for a Representative or Senator but they can own their own. That'd be lotsa votes, eh?
    it's even better when you get to own the President

  7. #37
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    Re: GE moving X-ray business to China

    GE moving X-ray business to China - The Boston Globe

    The business climate is not conducive to expansion or growth especially with the threat of higher taxes on profits.

    BTW China has a growing middle class not slaves.

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    Re: GE moving X-ray business to China

    Quote Originally Posted by Councilman View Post
    GE moving X-ray business to China - The Boston Globe

    The business climate is not conducive to expansion or growth especially with the threat of higher taxes on profits.
    .

    Oh hog wash. We have a mature market here where as China is an emerging market.

  10. #40
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    Re: GE moving X-ray business to China

    Quote Originally Posted by winston53660 View Post
    Oh hog wash. We have a mature market here where as China is an emerging market.
    But, we have an immature regime in power.

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