imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Subscribe Calendar Publish RSS
Tell the NSA: StopWatching.US

Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

CopWatch LA

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List





IMC Network: www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech
printable version - js reader version - email this article - view hidden posts - tags and related articles
link:

Jack Welch, former GE CEO, Imagination At Work

by David Roknich Sunday, Oct. 07, 2012 at 9:36 PM

Thanks to agressive warmongering and inflated government contracts, GE saw great growth and expansion under Mr. Welch's leadership. Today he returns to the limelight to bite the hand that feeds him, as he attacks the accuracy of current employment figures. According to the US Bureau of Labor Statistics,

Jack Welch, former G...
screenshot_from_2012-10-06_23_49_41.png, image/png, 650x359

According to the US Bureau of Labor Statistics,"The unemployment rate decreased to 7.8 percent in September, and total nonfarm payroll employment rose by 114,000." Jack Welch asserts that these figures are the result of a vast conspiracy to make President Obama look good, but even Bloomberg News now publicly questions the reality contact of former CEO Welch.

see - http://www.bloomberg.com/news/2012-10-05/welch-conspiracy-theory-on-jobs-data-not-tied-to-reality.html
 

Welch's company was a leader in providing materials for nuclear weapons, and enjoyed profitable deals with friends and foes of the US abroad. They were so prolific that they became the favorite target of corporate boycotts during the 80s and 90s. In 1986, they aquired RCA, the company that owned NBC, and with the confidence of media ownership they marched forward to blaze a trail of previously unimaginable pillage and plunder.

 Imagination At Work

(source: crocodyl.org/wiki/general_electric)

On July 22, 1992, GE "... [pled] guilty to diverting some $26.5 million from the U.S. foreign military aid program used to finance General Electric's sale of F-16 jet engines and support equipment to Israel ." (United States v General Electric, Docket #90-CV-792, US DC SD OH, Cincinnati) (See: Defense Contracting: Contractor Claims for Legal Costs Associated with Stockholder Lawsuits, GAO/NSIAD-95-66 (July 1995). GE agreed to pay a $69 million fine under the Foreign Corrupt Practices Act to the U.S. government — one of the largest defense contracting fines ever. The company said in a statement that it took responsibility for the actions of a former marketing employee who, along with an Israeli Air Force General, diverted Pentagon funds to their own bank accounts and to fund Israeli military programs not authorized by the United States.

On February 3, 1990 GE was convicted in U.S. District Court in Philadelphia of defrauding the government out of $10 million for a battlefield computer system. GE pled guilty on May 19, 1985 to charges of fraud and falsifying 108 claims on a missile contract. GE was convicted of defrauding the Air Force out of $800,000 on the Minuteman Missile Project.

GE’s civil and criminal transgressions stemming from the Israeli military program are by no means isolated. GE is a repeat offender when it comes to Defense Department fraud. The company has repeatedly violated the False Claims Act — a measure originally proposed by Lincoln to protect federal coffers. When the Project on Government Oversight surveyed defense contractors, it found that General Electric was responsible for 15 instances of fraudulent activity in just a four year period (1990-1994) — more than any other defense contractor.

On August 10, 1995 the U.S. Department of Justice announced (# 95-438) that GE would pay $7.1 million to settle a contract fraud suit initiated by Ian Johnson, an engineer at GE's Aircraft Engines plant in Evendale, Ohio in 1993. Johnson had alleged that GE "sold several thousand jet engines to the military that did not comply with military electrical bonding and electromagnetic interference testing requirements," according to DoJ. (Subsequently, the Air Force tested the engines and found them to be safe.) Johnson filed the suit on behalf of the United States under the qui tam provisions of the False Claims Act.

On January 10, 1997, the U.S. Department of Justice announced (# 97-012) that GE would pay $950,000 to settle allegations that it fraudulently to have had conducted certain test procedures on circuit boards for hundreds of aircraft engine controls when in fact the tests were not conducted.

GE paid $5.87 million (along with Martin Marietta) to settle a qui tam suit associated with improper sales of radar systems to Egypt.

GE paid fines between 1990 and 1994 ranging from a $20,000 criminal fine to a $24.6 million civil fine for a variety of defense contracting frauds, including: misrepresentation, money laundering, defective pricing (2 incidents), cost mischarging (3 incidents), false claims, product substitution, conspiracy/conversion of classified documents, procurement fraud and mail fraud.

 

Much to Welch's credit, the skullduggery of GE accounting practices was not fully appreciated until August of 2009, and the corporation rolled over as quickly as possible - to pay a large fine while pleading nolo contendre in order to avoid prosecution for fraud. In previous years, they would not have had the opportunity to dodge a criminal trial.

see: http://sec.gov/litigation/litreleases/2009/lr21166.htm

The practice of"deferred prosecution" was an innovation of the Bush administration that helped great corporations prosper at our expense. When caught with their hands in the cookie jar, all they had to do was sign an agreement to future compliance to avoid criminal prosecution. General Electric is one company that benefits from the continuation of this policy by the current DOJ.

In recent years., GE has been so successful with creative accounting that they don't even have to pay taxes anymore.

see: http://www.theblaze.com/stories/pay-your-fair-share-protesters-heckle-ge-ceo-obama-admin-jobs-czar/

And they are modest, since they don't brag about awards they've won. General Electric has made effective use of the 10 worst corporate habits usually associated with Enron. In fact Enron placed second GE in this contest: http://www.faireconomy.org/press_room/2002/report_harmful_enron_practices_widespread

Jack Welch should be thankful, while he laughs on his way to the collect his dividend checks, thankful to Barack Obama and Eric Holder for not taking a serious bite out of the Corporation that continues to provide him with an enviable lifestyle, but instead he chooses to bite the hand that feeds him.

 

Designing the New Radio http://indyradio.nu

 

Facebook: http://facebook.com/IndyRadio

Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


LATEST COMMENTS ABOUT THIS ARTICLE
Listed below are the 10 latest comments of 1 posted about this article.
These comments are anonymously submitted by the website visitors.
TITLE AUTHOR DATE
he should know then Bog Monday, Oct. 08, 2012 at 4:26 AM

Local News

Latest Black Flag Newsletter Available J20 8:05PM

Why The Actual Artists Keep Fleeing What Once Was The Los Angeles Arts District J16 4:15PM

12 Peoples Of Rain To the People of California J16 3:36PM

More Local News...

Other/Breaking News

US Wants Enhanced UN Peacekeepers Serving Its Interests J29 11:51AM

Russia to Veto UN Resolution for US-Controlled MH17 Tribunal J29 10:57AM

Israel Bombs Syria During Large-Scale War Games J29 6:51AM

Another US Jail Cell Death Sentence J29 3:46AM

Illegitimate Show Trial Sentences Gaddafi's Son to Death J28 12:15PM

Another Jail Cell Murder in America J28 11:52AM

United Nations Votes for Global Bankruptcy Principles J28 11:37AM

Greece demonstrate J28 10:28AM

Craigslist foot sucker stabs feet takes foot print and places at crime scenes, wofford hei J28 7:44AM

Hezbollah's Nasrallah Urges Resistance Against Israeli Lawlessness J28 7:00AM

Tormenting Greece is about sending a message J28 5:16AM

Balkanizing Syria Planned J28 4:01AM

NUCLEAR SHUTDOWN NEWS JULY 2015 J27 4:54PM

4Story M Flying Dragon Arrows Hack iOS Android Cheats J27 1:46PM

Kayle League Of Legends Hack iOS Android Cheats J27 1:45PM

War of Empires The Mist Hack iOS Android Cheats J27 1:44PM

Troika Bandits Want More from Greece J27 11:37AM

Anti-fascist and anarchist from Russia needs help and solidarity J27 11:17AM

Assad Vows to Defend Syria's Homeland J27 11:16AM

Bring Me Home Retro Future hack cheats telecharger {CHIPS} J27 9:51AM

CFPB Fines Predatory Student Lending Practices; Religious Organizations Pray for Relief J27 9:40AM

The Incorruptibles cheats hack mod [GOLD/MANA/GEMS] J27 7:25AM

Saudis Keep Bombing Yemen After Declaring 5-Day Halt J27 6:36AM

Cleveland Police Attack Black Activists J27 3:36AM

#NEW# Deer Hunter 2016 Hack Cheat Tool Generator GLU J27 2:04AM

#NEW# Deer Hunter 2016 Hack Cheat Tool Generator GLU J27 2:02AM

Paraphysique du non-dit J27 1:39AM

Hindus seek withdrawal of “ampm” posters linking cheeseburger with “Holy Cow” J26 5:25PM

More Breaking News...
© 2000-2003 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy