G.E.: $14B in '10 profits, $0 corporate tax paid, now asking unions for wage & benefit concessions

BDx13 - 3-28-2011 at 08:49 PM

It really is mind boggling...

G.E.’s Strategies Let It Avoid Taxes Altogether
http://www.nytimes.com/2011/03/25/business/economy/25tax.htm...

After Paying Zero Income Taxes, GE Plans To Ask Its Union Workers To Make Wage And Benefits Concessions
http://thinkprogress.org/2011/03/28/ge-union-workers-cuts/

lifeisabitch - 3-28-2011 at 09:20 PM

there is no way that we the people will ever be in control again...

and it's fucking sad that the last great generation spawned these sons and daughters of fucking evil...

fuck every hippie turned yuppie piece of shit in their face with broken glass

clevohardcore - 3-29-2011 at 01:32 AM

Quote:

Originally posted by lifeisabitch
there is no way that we the people will ever be in control again...

and it's fucking sad that the last great generation spawned these sons and daughters of fucking evil...

fuck every hippie turned yuppie piece of shit in their face with broken glass

XHonusWagnerX - 3-29-2011 at 09:14 AM

My company just got bought by GE in January. Our union contract ends next week but they got the membership to accept a 1 year extinction of our current contract with no changes but a 2% raise.

It was accepted by a vote of like 130 to 10 or something. I voted against it because I think that 1 year gives GE time to get all their other unions to make consessions and then give us the same shit offer next April.

The world is fucked.

lifeisabitch - 3-29-2011 at 12:36 PM

so what dude you could be out of there next year????
fuck that

clevohardcore - 3-29-2011 at 02:15 PM

UNIONS NEED HELP. SERIOUS HELP.

barc0debaby - 3-29-2011 at 02:15 PM

Quote:

fuck every hippie turned yuppie piece of shit in their face with broken glass

Word. Especially how these cocksuckers have fucked us kids on education. Back when this generation went to college, it was nearly free. They could complete college and still be able to participate in the social uprisings of the time. They didn't have to work full time and squeeze in classes,have to rent a room from their parents and eat fucking rice and beans all day. The cost of college is twice the inflation rate. Since 1982 energy costs have gone up 108%, medical costs 250% and college fucking 440%. The UC system in California raised tuition 32% in 2009, then another 8% in 2010; and simultaneously cut programs, teaching staff, etc. a total of $813 million in cuts; but approved executive pay raises, with top earners averaging around $300-500,000 a year. I have to pay hundreds of times more, for increasingly less of a college experience than ass wipe baby boomers were able to enjoy.

newbreedbrian - 3-29-2011 at 03:56 PM

Shit like just depresses me honestly. We've been headed down this road for a long time now, and it's only gonna get worse. The people really controlling things have fucking us down to a science at this point. I need a beer.

XHonusWagnerX - 3-29-2011 at 04:20 PM

Quote:

Originally posted by lifeisabitch
so what dude you could be out of there next year????
fuck that

I'm not sure what you mean, you mean on strike? I would say it's doubtful because I think our membership is very weak and will take almost anything they are offered. I really wanted another 3 year contract like our past ones because as much as I hate the job I can't just lose it right now.

BDx13 - 3-29-2011 at 04:44 PM

i think he was asking if there's a chance you might get laid off.

lifeisabitch - 3-29-2011 at 05:11 PM

Quote:

Originally posted by BD
i think he was asking if there's a chance you might get laid off.

yeah that's what I was reading from your statements

DaveMoral - 3-29-2011 at 05:55 PM

Seems like the only solution is revolution...

XHonusWagnerX - 3-29-2011 at 07:31 PM

Oh sorry. Hum, we had layoffs twice last year but I have a decent number of people below me in seniority so I'm good for now. We will see what happens next year. I don't fear a lay off that will effect me. I think a strike or the place closing are somewhat possible but even that is debatable.

Even if I got laid off I could collect unemployment for 2-3 years and go to school to get a skill. So I don't think it would be the worst thing ever.

XHonusWagnerX - 3-29-2011 at 07:32 PM

Quote:

Originally posted by DaveMoral
Seems like the only solution is revolution...

I agree. Middle & lower income people need to rise up and not take any more shit.

BDx13 - 3-30-2011 at 12:21 AM

how the fuck would you be able to collect unemployment for 2 to 3 years?
(asks the guys who wouldn't be able to collect unemployment for a single day if he lost his work)

XHonusWagnerX - 3-30-2011 at 07:41 AM

I dont know specifics butnwe hwvebguys laid off who were told with extensions they can collect for almost 2 years. Plus our union filed for some program and was accepted where anyone laid off from our facility (union or not) can go into the program which includes an extra year of unemployment IF you go to their training and then schooling of your choice. Catch is if you fail or quit you owe for ALL the schooling.

The big bonus is that when you collect unemployment you have to be ready to to work at any time. With this program you are not ready to work because you're in school. They also have ways to help you get a job after your schooling.

Colin - 3-30-2011 at 10:21 AM

Quote:

Originally posted by XHonusWagnerX

Quote:

Originally posted by DaveMoral
Seems like the only solution is revolution...

I agree. Middle & lower income people need to rise up and not take any more shit.

take advantage of your right to bear arms while you still have it.....I myself need to start shopping around the pawn shops this summer. I'm fairly sure some shit's gonna go down within my lifetime. Some people call that paranoid...I think it's common sense

clevohardcore - 3-30-2011 at 02:22 PM

Quote:

Originally posted by XHonusWagnerX
I dont know specifics butnwe hwvebguys laid off who were told with extensions they can collect for almost 2 years. Plus our union filed for some program and was accepted where anyone laid off from our facility (union or not) can go into the program which includes an extra year of unemployment IF you go to their training and then schooling of your choice. Catch is if you fail or quit you owe for ALL the schooling.

The big bonus is that when you collect unemployment you have to be ready to to work at any time. With this program you are not ready to work because you're in school. They also have ways to help you get a job after your schooling.

^^^^^^^^^^^^ My lazy ass father has been collecting unemployement for almost 2 years now. It will be 2 years this August. He cries and acts like its terrible, but he aint trying to get a job. It's fucking pathetic.

clevohardcore - 3-30-2011 at 02:26 PM

Quote:

Originally posted by Blackout Colin

Quote:

Originally posted by XHonusWagnerX

Quote:

Originally posted by DaveMoral
Seems like the only solution is revolution...

I agree. Middle & lower income people need to rise up and not take any more shit.

^^^^^^^^^^ Do you think they would allow you to buy up weapons before they try and outlaw/snake em? No because they would mehtodically fleece everyone first. Its a scary thought, but it could happen.

Mark Lind - 3-30-2011 at 02:33 PM

The thing is this though...... this doesn't mean they have all that money sitting in a bank account somewhere. What was the yield to their preferred and common stock holders for 2010? It's likely gone.

BDx13 - 3-30-2011 at 03:32 PM

GE is also tricky because there are SO many individual businesses under that name.

http://www.google.com/hostednews/ap/article/ALeqM5i9Kvmj6JHB...

Overall, GE has almost $80 billion in cash. The financial parts of its businesses, like lending arm GE Capital, are required to keep more resources on hand.

GE has also raised its quarterly dividend twice in the last seven months, first from 10 cents to 12 cents a share and then from 12 to 14. For the year, that means it would pay out 56 cents a share.

Two years ago, GE's dividend was more than twice that — $1.24 a year. Like many companies, it has a long way to go before it starts rewarding shareholders as well as it did before the Great Recession.

DaveMoral - 3-30-2011 at 07:42 PM

Quote:

Originally posted by Blackout Colin

Quote:

Originally posted by XHonusWagnerX

Quote:

Originally posted by DaveMoral
Seems like the only solution is revolution...

I agree. Middle & lower income people need to rise up and not take any more shit.

I'm actually pretty well convinced that nothing will happen.

Motherfuckers here are too well fed and hypnotized to take to the streets and overthrow an obviously corrupt political-corporate system. We all hate Congress, we all hate the corporations paying off Congress, but not a one of us is going to do a single goddamn thing about it. We are scared, and we don't want to lose the perception of a "good thing" we've got in this live-to-work world where we voraciously accumulate more and more, and in the mean time find ourselves less and less happy and content. We are black holes of desire and so long as we've got bountiful amounts of overpriced, undernourishing "food" on the table, and TV and video games to keep us occupied we are copacetic.

Very few people, including those who get out with a few picket signs, are really serious about a real change in the way things are done. We pay lip service to it because it makes us feel good, but at the end of the day we've fallen for the canard that are vote means a damn thing while we see every single one of these twerps we put in Congress or the White House is more beholden to corporate interests(especially the military-industrial complex) than it is to "We the People."

Maybe at the end of the day skyrocketing prices for utilities and necessities will be a good thing... because it'll finally make people fed the fuck up and we'll take to the streets and do to the motherfuckers in Washington what they Egyptian people did to Musharraf.

Mark Lind - 3-30-2011 at 09:12 PM

Quote:

Originally posted by BD
GE is also tricky because there are SO many individual businesses under that name.

http://www.google.com/hostednews/ap/article/ALeqM5i9Kvmj6JHB...

Overall, GE has almost $80 billion in cash. The financial parts of its businesses, like lending arm GE Capital, are required to keep more resources on hand.

GE has also raised its quarterly dividend twice in the last seven months, first from 10 cents to 12 cents a share and then from 12 to 14. For the year, that means it would pay out 56 cents a share.

Two years ago, GE's dividend was more than twice that — $1.24 a year. Like many companies, it has a long way to go before it starts rewarding shareholders as well as it did before the Great Recession.

Which part of their organization is asking for a cut back in union benefits?

BDx13 - 3-30-2011 at 09:46 PM

not sure.

in related news, this is hilarious:
http://news.yahoo.com/s/yblog_thecutline/nightly-news-stays-...

XHonusWagnerX - 3-30-2011 at 11:58 PM

I think all the Energy division shops are going to negotions now so it's probably them, but I bet it is or will be all divisions.