Advertisement

Blog

Biting the Hand That Feeds You

When I read the news this morning that GE's Healthcare division intends to move the headquarters for its global X-ray business from Waukesha, Wis., to Beijing, I was struck by the irony. Earlier this month, {complink 8019|General Electric Co.} CEO Jeff Immelt — who in January was named by President Obama to be chairman of the President’s Council on Jobs and Competitiveness — stated that his work on the council had shown him that even GE “can be held accountable for where it creates jobs.”

Perhaps Immelt was not clear about the council’s charter. The idea was to create jobs and boost innovation and competitiveness in the United States. The US economy continues to teeter on the precipice of depression, and the President himself has said more than once that to “win the future and succeed in the global economy, the US must continue to be a hub of innovation.” Yet, his very own jobs czar continues to pour billions of dollars into technical development in foreign economies, particularly China, which is increasingly becoming the biggest threat to America’s technological dominance.

Now, I get that a company has to make a buck, but GE is hardly struggling to stay afloat. In 2010, GE reported $14.2 billion in earnings, $5.1 billion of which was generated in the US. And, thanks to some very generous tax incentives, GE allegedly paid no federal income tax on its earnings, and possibly even received a sizable tax refund.

Immelt has reported that the Council on Jobs and Competitiveness is working on “a hundred different business plans for every sector of the economy, with practical steps to help create jobs.”

Personally, I find it hard to take his commitment to the initiative seriously when he unapologetically states: “If winning an order in Saudi means putting jobs there, we'll do it.” With czars like that, who needs enemies?

Fortunately, there are members of the tech sector that do appear to be truly committed to keeping the US at the forefront of innovation. Former Intel CEO Craig Barrett, Time Warner Cable CEO Glenn Britt, Xerox CEO Ursula Burns, Eastman Kodak CEO Antonio Perez, and Sally Ride Science CEO Sally Ride have joined forces in an initiative called Change the Equation.

According to the Change the Equation Website, the goal of the program is to position America at the cutting edge of scientific discovery and technological innovation by promoting greater literacy in science, technology, engineering, and mathematics (STEM).

Certainly, it must be easier for someone like Craig Barrett, who no longer has the burden of answering to Wall Street and various shareholders, to put the nation’s interests first. It can be argued that GE’s Immelt is just doing his job. On an intellectual level, I understand that. Yet, from a purely emotional standpoint, I can’t help but feel that corporations like GE are selling out America’s future. What do you think? Do companies owe any allegiance to their home countries?

51 comments on “Biting the Hand That Feeds You

  1. Ashu001
    July 25, 2011

    Diane,

    I agree entirely with the premise of your post.

    For way too long Hardworking American Taxpayers have footed the Bill for Execs like Immelt and their hefty salaries.Its time we got back our dues.

    And the best way to do it?

    Simplify the Tax code by getting rid of all those unneccesary Incentives which do nothing to generate jobs or improve the Competitiveness of America.

    Another lesser known fact is that GEs Commercial Finance Division survived only because of US Federal Reserve Help in 2008.So its time they repaid the faith that Taxpayers held in them.

    I for one don't like the Chinese law which forces Technology sharing to do business there.But if that's how the Chinese have decided to dominate the Tech world,I think we should also join in.

    Its time GE started repaying its fair share of Taxes(alongwith Google and the rest of them…).

    Regards

    Ashish.

  2. Houngbo_Hospice
    July 25, 2011

    Hi Diane,

    I understand your frustration and I'm sure most Americans feel the same thing. But my feeling is that for many American companies to remain viable they will often have to outsource part of the business for various reasons. Besides the cheap labour available in emerging nations, some countries will only give (buy or invest) if only they can get back (transfer of technology). Also the fierce international competition might constraint some companies to make some sacrifices that may not be well perceived by the people. But I do agree with you that the priority of any American company should be to preserve and create jobs in the country. And GE decision seems to be an irony indeed.

  3. Houngbo_Hospice
    July 25, 2011

    Hi Ashish,

    Giving tax breaks to businesses was an economical strategy that was intended to save and spur the economy. But it is indeed time for the companies to pay back and I wonder why republicans are willing to maintain that tax breaks for companies that no longer need it.  

  4. Nemos
    July 25, 2011

    These are very tough questions to answer. The situation as you described it is the fruit that our “free” market give us as a gift. When I hear the phrase “free market” always I think of why market it is 'free” when everything in our life have rules .

    From my point of view it is unacceptable when big companies decide to leave from a Country because of the increasing tax rate that government must do for survival purposes.

  5. Gerry Fay
    July 25, 2011

    Diane,

    Great thought provoking blog. It is a tough decision for all companies who both face competition from foreign companies selling their goods here and who want to penetrate indigenous markets and compete locally.

  6. mario8a
    July 25, 2011

     

     

    Hello

    Do companies owe any allegiance to their home countries?  I'll Say NO.

    why? well, first we have to look at the business model of each country, for Asia, if the company needs to increase their production 400% in one month, they will only ask the goverment to provide equipment and hundreds of Engineers and they will achieve their goal of 400% increase, same with their profit.

    in US is quite different, process is very slow and there re so many captains and not too many sailors, I can’t imagine a production line in US, where the supervisor will ask overtime with no warning or asking the workers to work over the weekends, as much I want to be optimistic not everybody will even consider working on those conditions.

    I hope sooner than later US change their working policy to be more competitive.

     

  7. prabhakar_deosthali
    July 26, 2011

    This is a typical dilemma that many companies may be facing. The shareholders want the company to be profitable at any cost – so if it can be achieved by job cuts then axe the workers; if it can be achieved by relocating your manufacturing outside US, do it. It is all ruthless ! the ultimate aim being having the bootom line in black.

    The CEOs however are too smart to keep their compensation packages intact and even have a provision in their contract for heavy severence compensation if the shareholders decide to sack them.

    On the other side the local workers do not want to loose their jobs. But are they ready to compromise ?- are they ready to work over time without extra pay till the company comes back in black again? . Many times the answer is NO.

    So the overall pictures looks like the company is doing a dis-favor to the nation by thinking shrewdly about its business. And it is not only true for US but but for all countries ( For example Nokia in Finland)

    It is time the government, the trade unions and the company management representatives come together on such issues.

     

  8. Wale Bakare
    July 26, 2011

    It is time the government, the trade unions and the company management representatives come together on such issues.

    @ prabhakar do you think trade unions, company representatives will ever reach an agreement on those lingering issues? It is highly pathetic to see companies moving or offshoring jobs from their homelands to abroad.

  9. prabhakar_deosthali
    July 26, 2011

    @Wale Bakare  You are right. Both the managment and the trade unions are rigid in their stand and in between the hapless workers suffer. I have seen this happen even within our country (India).  The businesses have migrated from one state to another because of the labor trouble created either by the trade unions or by the political leaders.  Such people are only money greedy and not interested in the well being of either their State/Nation or the people. And in a free economy governments can do very little to stop such migrations.

  10. Jay_Bond
    July 26, 2011

    This was an excellent article and I agree with your idea that GE and their CEO have turned their backs on the U.S. To accept the position that the President sent your way, tell the people of the U.S. how hard you’re working on keeping and creating jobs in the U.S. and then to pick up and move to China is despicable. The government needs to do something about all of these tax incentives that are supposed to create and keep jobs, and start charging these companies the taxes they owe. Right now we are in a fight over the countries deficit, yet we have major corporations within the U.S. that make billions of dollars in profit and don't have to pay taxes on their earnings. And to think that at least one of GE's divisions was helped out by the U.S. tax payers.

  11. Diane Trommer
    July 26, 2011

    Thanks to all for your great feedback. This is definitely a tricky issue. Doing business globally is a fact of life and I am not saying that it is a bad thing. I think the GE case is really an extreme example. For Immelt to head up a presidential council to promote U.S job creation and then make it clear that he wouldn't hesitate to move jobs off shore is so beyond hypocrisy. 

  12. Diane Trommer
    July 26, 2011

    The thing is this is not really just an issue for America. It is more glaring today because of the economic circumstance of the U.S., but the reality is this is something that affects all nations. Sooner or later “emerging” economies like China are going to reach a point where their biggest corporations will start transferring jobs en masse to other countries. I doubt the Chinese people will be any happier about it than we in the U.S are today. 

  13. Eldredge
    July 26, 2011

    This move by GE Med does seem more than a little hypocritical on the part of Mr. Immelt. I haven't been a fan for a long time, and this combined with the favorable tax status ins't helping.

  14. Ashu001
    July 26, 2011

    Houngbo,

    The problem is with the entire US Tax structure.It is filled with so many Tax-breaks that corporations like GE can drive a Truck through them.

    The entire Tax structure needs to be overhauled and overhauled dramatically.

    The best option is to rip the whole book apart and start from scratch with No exceptions or breaks for anybody except the SMBs (firms which employ less than 500 employees).These firms are the major Employment Generators in the US (not the Corporations) and can do with all the support we give them.

    Regards

    Ashish.

  15. JADEN
    July 26, 2011

    This is a serious issue, a capitalist destroying american jobs.

  16. brianM
    July 26, 2011

    Anyone who  believes that a company should do anything except make money and compete in the market is misguided and Imelt by moving his health care group to China is planning on doing just that. As well, if you believe Imelt was picked randomly by Obama you are naive on that also. The unholy alliances Obama has created are just for extending his socialist policies and income redistribution. Imelt sees it as a way to gain favor and keep Obama off his personal back. He doesn't give a damn about any other company in the USA unless it supports IBMs agenda. And paying no taxes when you have massive loss write offs from GE Capital is the same tax wriet off anyone else could have used. Its in the tax code.

    The best way to make the USA more competitive in any way and the education of our population to be more focused on STEM is to get the government out. Eliminate corporate taxes and go to a consumption tax and we won't  be pointing our fingers at the supposed nasty companies paying not enough taxes and move to privatize the public school system. The schools suck and have gotten worse every year wherein the teachers and management are only interested in the adults jobs and pay and retirement. Not the kids. As evidenced by the 1995 dumbing down of SAT tests instead of improving kids skills…..its so broken it needs scrapping!

    You want high tech and jobs here….eliminate corporate taxes…..Obummer is too dumb of an ideologue to do anything but push socialism.

  17. Barbara Jorgensen
    July 26, 2011

    I have the same reaction as you Diane even though I know a company is beholden to its shareholders and not its country.  Businesses take advantage of US tax law loopholes on one hand and outsource jobs to foegin countries on the other. That Immelt holds an important position in government makes this more insulting. This is a debate that should continue, although I'm not sure what the answer is.

  18. brianM
    July 26, 2011

    the answer is eliminate corporate taxes…they'll be no need for businesses to kiss the ass of any politician. As well, with automation today, labor is a significantly lower portion of the cost of manufacturing and quite often being co-located to where you sell a product is presents a much lower overall cost for a company. The USA still buys nearly 25% of everything made on earth. As an example of this, a fab in China such as SMIC employed about 3000 employees for the same number of wafers out as TIs Richardson fab where there are only 1000. Foreign companies are dying to be here and have “made in USA” on their products. You can see this in the fact that some of the solar comapanies are setting up module mfg in the USA, shipping wafers only to the USA and making panels here.

    The solutions are relatively easy…..the politics are the blocking agents.

  19. Houngbo_Hospice
    July 26, 2011

    Hi brianM,

    “the answer is eliminate corporate taxes.. ….the politics are the blocking agents.”

    Politics are the necessary evil, because it is through politics that collective (and constructive) decisions are made – including decisions about taxes and economy growth strategy. My question to you is if corporate taxes are eliminated, how will the government agencies and departments programs be funded? The solution is between lowering corporate taxes and reducing government's spending. I don't think that only personal income and consumption taxes are enough for the government to get sufficient money to finance its activities.

  20. garyk
    July 26, 2011

     

     

    Diane hit the nail right on the head.

    I think Jeff Immelt sure be fired!

    I think President Obama should comment on Biting the Hand that Feeds You. How can EBN make that happen?

    Fix the TAX loop holes. TAX the hell out of company's that move out of the United States.

    Lets all STOP paying TAXES!!!!!!

  21. Himanshugupta
    July 27, 2011

    Ashish, easier said than done. If you follow the “raise the US debt ceiling” discussion then you will notice that such a commonsense thing is part of huge politics. Job creation and retention go hand in hand with the tax incentives. If there are no tax incentives and the labor cost is high then why would a company would want to invest in that country. The problem starts only when we start to become emotionally attacted, which also make sense as we do not judge everything from logic. Last, this step by Immelt is hypocritical to the least.

  22. Diane Trommer
    July 27, 2011

     

    This sound familiar?? Could the great experiment (aka the U.S.) be on the same road?

    Reason why the Roman Empire fell  (source: http://www.roman-colosseum.info) :

     

    Unemployment of the Working Classes 
    Cheap slave labor in turn resulted in the unemployment of the the people of Rome who became dependent on hand-outs from the state . The Romans attempted a policy of unrestricted trade but this led to working class Romans being unable to compete with foreign trade . The government were therefore forced to subsidize the working class Romans to make up the differences in prices. This resulted in thousands of Romans choosing just to live on the subsides sacrificing their standard of living with an idle life of ease. The massive divide between the rich and the poor increased still further. 

    Failing Economy

    The Government was constantly threatened by bankruptcy . The cost of defending the Empire, the failing economics, heavy taxation and high inflation was another reason why the Roman Empire fell.


  23. Taimoor Zubar
    July 27, 2011

    I am not sure if I would completely blame GE in this case. The primary motive for companies is maximizing profit and that's what GE seems to be doing. There are obvious cost savings by moving production to China. Increase in GE's profits will ultimately give better earnings to its US shareholders and they should not complain so much. As for the labor, perhaps the same workforce can be utilized in some other industry where US has better competitive advantage.

  24. Diane Trommer
    July 27, 2011

    @TaimoorZ, you are right this is not a GE problem. GE is just an example – and in my mind an extreme example because of Immelt's post as “Jobs Czar.”  Clearly, companies need to do what they must to continue to grow and profit. Beyond the hypocrisy of the Immelt case, I guess my bottomline fear is that our “land of opportunity” has run its course. Then what? 

  25. Ashu001
    July 27, 2011

    Himanshu,

    I said very clearly in my previous post here

    http://www.ebnonline.com/messages.asp?piddl_msgthreadid=240232&piddl_msgid=421768#msg_421768

    congress should eliminate all Taxbreaks for the Mega corporations;not the SMBs.

    As I am sure you already know ,the biggest creator of Jobs in America(for the last 20 years or so) have been the SMBs(Companies with less than 500 employees) and not the Mega-Corps.The Mega Corps are anyways big enough to fend for themselves and don't really need my tax Dollars.

    What do you think?

    As for Immelt's step-Its simple really.They see more growth in China than in the US.That's why they choose to invest there.But if they do choose to play by those rules then they don't deserve any Tax breaks or Tax incentives of any sort whatsover from the American Taxpayer.

    Regards

    Ashish.

  26. Ashu001
    July 27, 2011

    Taimoor,

    The main reason why GE is moving to China is because that's where they see the future (Growth and Profits are).

    Plus its also the small matter of the fact that if you want to do Business in China you have to invest there.Much unlike the US where you can simply import whatever you like from anywhere in the world.

    Apart from that I agree entirely with the rest of your comments here.

    Regards

    Ashish.

  27. Ashu001
    July 27, 2011

    Diane,

    Are you trying to suggest that History is about to repeat itself dramatically leading to the fall of the American Emplire???

    I feel its more likely that America will go the way of the British Emplire(by declining in power and influence slowly and gradually).

    But you won't really see the dramatic collapse which most talk about in great details everywhere.The US just needs a total reset,that's about it and we are free of most of our problems.

    Regards

    Ashish.

  28. Diane Trommer
    July 27, 2011

    I think what I am saying is that it CAN happen. I found it kind of startling to see the similarities between our current situation and the fall of the Roman Empire. A RESET would be nice, but I don't see how it is feasible without some really dramatic changes to our political and economic systems. I am not sure that Americans on the whole are ready for the kind of sacrifices that might require. Time will tell. 

  29. electronics862
    July 27, 2011

    Diane i agree with what you are saying, it's really a blow for GE and US market. If it sees china is growing market it can increase sales percentage there. US is always on the top when comes to utilization still if GE can handle the profit as same as it doing now, still it won't matter. 

  30. Ashu001
    July 27, 2011

    Diane,

    We won't what we can do with and what we can't do without unless we take chances/risks.

    The important question to think of is will we get the reset and if we do;how dramatic will the impact be on majority of the population?

    For instance,does it make sense to make small-small incremental cost cuts/changes to budgets everywhere or wield a knife absolutely everywhere???

    Your guess is as good as mine.

    Regards

    Ashish.

  31. hwong
    July 27, 2011

    I have a different take on things. GE executives are not dumb. They have calculated that they can benefit the most by doing what they are doing now.  In fact, the executives and shareholders of U.S. companies will benefit the most.  I am mostly worried about the debt and employment of U.S. though. Resources are becoming more and more scarce because of the growth of population yet we don't have enough jobs.  However, the rich will get much more richer here in U.S.

  32. Himanshugupta
    July 28, 2011

    Ashish, the job creation is not the only criteria that govt should take care while giving the tax benefit to any company. Its true that, in any country, its SMBs that account for the maximum number of jobs but are they also the biggest revenue generator? For a country to run, government needs big players and big tax payers. Also big companies indirectly create jobs for SMBs.  Alienating big companies is not a good idea.

  33. Kunmi
    July 28, 2011

    The US problem is very simple to fix. Political aggressiveness is killing the socio-economic situation of this country. The fight for restoration of the US economy does not appear real, it is just like a kid playing kite at the phase of a tonado. RESET is difficult among the flaming politicians. Roman Empire fell for failure to re-trace their steps to what they believed in. It is quite obvious that the Americans are not really ready to effect a change and that is why the poor is becoming poorer and the rich is becoming richer. It will take us years to fix the broken wall but something has to be done……

  34. Ashu001
    July 29, 2011

    Himanshu,

    Except for the part where you said that Big Businesses help create Business for SMBs[Primarily by outsourcing all non-core tasks].

    As for Tax Generators-Is'nt that what this post(and related posts like it talk about)???

    If you see Treasury Receipts for the last 5 years;you will see that Tax contributions from Personal IncomeTax  outweighs that by Corporates.

    Also most Corporations like GE/Google/Citi/BoFA,etc,etc,etc pay hardly anything in taxes.

    Some fascinating links for you to go through

    http://www.businessweek.com/technology/google-tax-cut/google-terminal.html

    http://online.wsj.com/article/SB10001424053111903999904576466541882356616.html

    Regards

    Ashish.

  35. Ashu001
    July 29, 2011

    Kunmi,

    The important question to figure out is-Is it too late for America???

    If yes,it makes a lot of sense to have a definite back up plan in place(like Residency in another country/regulatory regime).

    Regards

    Ashish.

  36. Ashu001
    July 29, 2011

     

    Guys,

    For all those worried about the US debt limit and will it be raised;here's an interesting article.

    http://www.washingtonpost.com/opinions/why-are-we-in-this-debt-fix-its-the-elderly-stupid/2011/07/28/gIQA08LtfI_story.html

    Regards

    Ashish.

  37. Diane Trommer
    July 29, 2011

    Ashish,

    thanks for the link to the Post article. It is interesting and I think all too true. It's one tough issue and I don't think there is anyone in DC that has the courage/influence to meaningfully broach the entitlements issue. I, for one, have little hope that when my tme comes, I will see any of the money I have contributed to Soc. Sec. and Medicare through all these years. I can't even begin to imagine how they are going to unravel this mess.

  38. itguyphil
    July 29, 2011

    This is a very sad and true development of the last 20 years that has gone ignored or at least 'turned a blind eye to it'. It will take some real gutsy politicians  within the next few elections to bring these issues to light, not to mention the high rates of fraud in Social Security and Medicare that cost us taxpayers millions each year.

  39. Anna Young
    July 29, 2011

    @ Kunmi, I agree with the points you've raised but did not outline the steps to “fix the broken wall”

    Any ideas?


  40. Ms. Daisy
    July 31, 2011

    Anna:

    I also agree that the points made by Kunmi are valid and I will like to add that the peole of the US are part of the problem, not just the politicians.

    My suggested solution starts from a simple point of answering the question, what is the purpose of raising the debt ceiling?

    As best as I know it, the history of debt ceiling was a wartime financial alllowance for the president of the United State to borrow money during the war in 1962 without needing to come to congress each time the budget is exhausted. Obviously this is a synopsis of the event. After all the worldwars, raising the debt ceiling became the US presidents credit card for extravagant living. It went out of control with entitlement programs attached to unbalanced budgets.

    Which family makes its budget with earnings from its household+ credit card to make up the difference. The role the people play that is bad is to continue to live beyond what they can afford. Now that we know the cost of “living like the Jones” on entitlements is not a realistic move, the reality of cutting back on entittlements has also become unacceptable tot the people.

    In addition, the politicians especially the career politicians came in with false promises to not raise taxes on the wealthy, but also want a balanced budget without generating income. Remember the appeal to the wealthy is not a tax increase, but an appeal to pay adequate taxes like everyone else. It is a simple request to the return of the tax breaks given to them.

    The solutions are therefore: To spend only what comes in (living within ones means); review entitlements and eliminate waste and retrain the population for new jobs. Finaly, the government to create an environment for job creation. 

  41. Ashu001
    August 1, 2011

    Diane,

    There is very little to wonder.When the Obligations of a Govt become too onerous they Default on them,either Explicitly -By refusing to pay those obligations or reneging on commitments made.

    For instance all those COLA(Cost of Living Adjustments ) will be the first to go.Either they do it that way or they just modify Inflation figures to suit their needs(and reduce their obligations).

    The second instance is also a lot like the first-Implicit Default through Inflation which ensures that Bonds due to creditors are paid back in money which is valued less than it was when the Bonds were first issued.

    This is so easy for the US Govt to do as it has the freedom to issue Debts(& sell Debts)in its own currency.

    Also,most Central Banks/other Financial Institutions  worldwide are forced to hold a significant amount of their capital in US Treasury Bonds.If that changes then US Govt will very quickly get into trouble.

    Regards

    Ashish.

  42. Eldredge
    August 1, 2011

    Absolutely – if we as a country don't force expeditures to be equal or less than receipts, the national debt will continue to escalate.

  43. Diane Trommer
    August 24, 2011

    Hey, did anyone see the Bill O'Reilly segment last night on Jeff Immelt his role as jobs czar? Looks like EBN seriously scooped him on this one!!!

  44. Kunmi
    August 25, 2011

    @tech4people, It is not too late for America neither the solution is to have a back up residency in another country. But the issue is that Americans should not narrow their thoughts towards “Self” alone. United goals and thought process brought the hesitence of this country because it was not just from a particular tribe. There are a lot of rich people in this country today that can cohessively bail the country out of this mess but who cares? Look at one of the current articles all e-waste legislation proposal. This might have come from someone who at the expense of many lives that depend on recycling determine to legislate the e-waste all because of the contract opportunities. Do they care about millions of people that will end up being jobless. The bone of contention is to reduce toxic waste but my question is can toxic waste be eliminated? If it does not come from the eletronic products, it will come from other products. I know we will sail through this crisis but it will take some years. The fatning time is over for now, all hands must be on the deck to rebuild.

  45. Kunmi
    August 25, 2011

    @Anna, Steps to rebuild this nation starts from individuals and it involves a change of attitudes accross the board:

    We are no more “dondee united”, we have to face the reality of our time:

    A Kingdom that fight against itself we definitely fall: This is what we are seing everyday from WDC to the respective offices where we work. It has to stop otherwise it will be like you're opening the wounds which will prevent quick healing.

    As long as we are adamont in resisting a change of direction, we are prolonging the evil days. 

    People of great resource has to pull heads to rescue the country from total crash knowing fully well that if nothing is done from their end, they will have the greatest impact.

    Put 2000 crabs in a bucket. You do not have to cover the bucket with a lid because none of them will escape. What is the mistery? As a crab is trying  to climb up, other crabs will draw it down meaning “you are not going anywhere; this is the pool wherein we are swimming in this country today. If we do not change this attitude, stagnancy can not be ruled out.

    Just to suggest a few as requested.

    Thanks Anna.

  46. Ashu001
    August 25, 2011

    Kumni,

    Having a backup residency in another country is just that.An option.

    The important thing is to never ever run out of options.

    That is the most critical way to handle this crisis which still has many twists and turns ahead of it.

    Honestly I don't have a crystal ball in front of me but if America's situation turns into a replica of the Weimar Republic or The Irish deflation debacle its makes more sense to exit rather to stay here and fight the system.

    I for one have always believed in alternative options(if worst comes to worse).And that's just what I am advocating here.

    Regards

    Ashish.

  47. Kunmi
    August 25, 2011

    @tech4people , Honestly speaking, I do not blame you if the the next thing is the back up plan. But what could be the fate of people that were born here but that does not even have the traveling passport talk less of ever travel offshore? Well! it boils down to choice.  

  48. Ashu001
    August 26, 2011

    Kumni,

    This is precisely the reason why you want to experiment and figure out what works(and what does'nt) for you.Nobody else can take that decision(or make that choice for you).

    Experimentation matters above everything else.After all,what works very well for one person may not neccesarily work well for someone else.

    Regards

    Ashish.

  49. Kunmi
    August 26, 2011

    Perfectly agree Ashih.

  50. Anna Young
    August 26, 2011

    @ Kunmi, Thank you for your suggestions. Particularly the way you likened the situation to “Put 2000 crabs in a bucket. You do not have to cover the bucket with a lid because none of them will escape. What is the mistery? As a crab is trying to climb up, other crabs will draw it down meaning “you are not going anywhere; this is the pool wherein we are swimming in this country today. If we do not change this attitude, stagnancy can not be ruled out”.

  51. mario8a
    August 30, 2011

    @Diane

    GE's has no loyalty to US, why? well is very simple, try to hire 300 Engineers in one month and setup a production line for 600 employees in two weeks… moreover try to build good product @ low cost. Quite a challenge, right?

    well countries like China, Inda, Brazil Mexico  actually can do that, Ive seen that happeing, even China goverments owns some of the profits.

    Not that I beleive there's not talent in US, but honestly young generations should take more care of their education and their future, currently US has to look their own garden and make extra efforts go back to the “Made in the US”   times.

    regards

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.