GE moving hundreds of jobs from Schenectady and other U.S. cities to France.
And just think, we in all of Schenectady county are paying the property and school taxes for this property.
Rotterdam people are being hurt the most because the assessed value is $132 million in the town, Schenectady city's portion is assessed only at $65 million.
Granted GE's decision doesn't have to do with Schenectady specifically, but is McCarthy worthy or re-election for having chosen to exempt GE from paying property and school taxes?
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
there may be isolated areas in this country where some businesses flourish.....clearly not the majority.
Schenectady has declined since GENEROUS ELECTRIC left...........just like other industrialized cities.
welcome to the age of 'technology'!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
But of course after this news, McCarthy and metroplex will most likely still allow GE to keep it's tax exemption which means homeowners throughout the county are paying GE's city, town, county, and school taxes.
How much is McCarthy getting in kickbacks
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
money has virtual value...and soon very very very soon it will change....the fed reserve decides what your value is and then after that the government decides which cast you belong to via the taxes....
then you have everyone all looking at each other trying to decide who has more $$ than them and if it's their fair share and decide that someone else has more or less than themselves, because let's face it, if there weren't 'poor people' kept in their cast the 'rich people' wouldn't have anything to do and neither would the freaking churches.....
NEVER NEVER NEVER rely on a COMPANY or A FU(KING politician to make sure you get your 'fair share' ...
besides we have to worry about 'if you see something, say something'
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
GE moving hundreds of jobs from Schenectady and other U.S. cities to France.
And just think, we in all of Schenectady county are paying the property and school taxes for this property.
Rotterdam people are being hurt the most because the assessed value is $132 million in the town, Schenectady city's portion is assessed only at $65 million.
Granted GE's decision doesn't have to do with Schenectady specifically, but is McCarthy worthy or re-election for having chosen to exempt GE from paying property and school taxes?
Trying doing your homework...local government has nothing to do with this or ability to impact the decision.
Quoted Text
http://www.bizjournals.com/alb.....wing-ex-im-bank.html GE noted in a statement that the U.S. remains the only major economy in the world without an Export Bank. The bank is an important source of financing for exporters, including GE. With no U.S. export financing available, the conglomerate had to pursue options outside the U.S.
The City of Schenectady issued a statement about the announcement on Tuesday.
"We do not blame GE for this action. Instead, we blame Congressional leaders in other states that fail to recognize the critical role that the Export-Import Bank plays in creating and sustaining jobs in places like Schenectady," the city said in the statement.
"GE’s hand was forced today by the failure of Congress to act. The company is actually prohibited from bidding on overseas work in many cases without the involvement of an export credit agency, which every developed nation in the world has except the United States due to the failure of Congress to re-authorize the Ex-Im Bank."
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
The EXIM Bank is a demand-driven institution that empowers U.S. exporters to increase their sales abroad and support quality jobs at home. When American businesses are unable to access private export financing, EXIM fills the gaps by equipping them with the tools necessary to compete for global sales. In doing so, the Bank levels the playing field for U.S. exporters facing stiff foreign competition in overseas markets. No transaction is too small for EXIM.
While most of our website is devoted to U.S. Exporters, you can also find dedicated pages here on our website for brokers, lenders, congressional and government stakeholders, U.S. product importers, trade and city partners, media, and current customers.
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
"We do not blame GE for this action. Instead, we blame Congressional leaders in other states that fail to recognize the critical role that the Export-Import Bank plays in creating and sustaining jobs in places like Schenectady," the city said in the statement.
Obama calls the Export-Import Bank "Little more than a fund for corporate welfare."
so GE is placing the overseas move on fed and state governments.
Quoted Text
Obama calls the Export-Import Bank "Little more than a fund for corporate welfare."
Quoted Text
GE says it may move up to 500 US jobs overseas
Created: 09/15/2015 4:36 PM WNYT.com By: By STEPHEN SINGER
HARTFORD, Conn. (AP) — General Electric Co. said Tuesday that it may move about 500 jobs overseas because Congress did not renew a government program that allows foreign companies to borrow money to buy U.S. products.
Authorization for the U.S. Export-Import Bank was not approved by Congress, forcing it to stop lending July 1. Foreign companies use the agency to buy expensive U.S. products when bank loans are not available.
As a result, GE says 100 jobs from a Houston plant that makes gas turbines will move to Hungary and China in 2016. The Fairfield, Connecticut, industrial conglomerate says those countries have lending options in place for customers.
"We do not make today's announcements lightly and in fact, have done everything in our power to avoid making these moves at all, but Congress left us no choice when it failed to reauthorize the Ex-Im Bank this summer," said John Rice, GE's vice chairman.
Another 400 jobs could be created in France instead of factories in South Carolina, Maine and New York if the company wins projects it is bidding on. The projects require financing, and the export-credit agency in France has agreed to provide it.
GE said it's bidding on projects valued at $11 billion that require export financing. It said it has reached agreement with the French export-credit agency to provide a line of credit for global power projects. GE said the line of credit will initially support potential orders in international markets that include Indonesia.
To access the required export credit for its customers of its aeroderivatives turbines, GE will move its final assembly from the U.S. to Hungary and China.
Rep. Joe Courtney, D-Conn., a supporter of the Ex-Im Bank, said the refusal by Republicans to back the federal agency is taking a toll.
"This is not a political parlor game in Washington, D.C.," he said. "They've run the numbers and there's nothing out there that even comes close to what they've been getting from Ex-Im for decades."
Republican Rep. Jeb Hensarling, chairman of the House Financial Services Committee, tied GE's shift to Europe for capital to its dispute with Connecticut officials over increased business taxes. He also cited GE CEO Jeff Immelt's role as chairman of the President's Council on Jobs and Competitiveness.
"It's troubling that the head of President Obama's Jobs Council is announcing GE is leaving Connecticut because the state's taxes are too high and is choosing to send jobs overseas because U.S. taxpayer-provided subsidies are too low," he said.
GE has not announced it's leaving Connecticut. It said in June it's considering relocating its headquarters to a "more pro-business" state.
White House spokesman Josh Earnest blamed the GOP majority in Congress for GE's decision.
"We hear a lot about Republicans complaining about supposedly job-killing regulations," he said. "The fact is, it seems like, based on what GE has reported today, the Republicans are killing quite a few jobs on their own."
The embattled and little-known Ex-Im Bank has been at the center of a fight between tea party Republicans who say it's not needed and Democrats and some Republicans - backed by manufacturers and large businesses - who say it promotes trade and helps create jobs.
The Ex-Im Bank's principal role is to guarantee commercial bank loans to foreign businesses and governments to buy U.S. products. U.S. taxpayers would be responsible for a loan if a company operating overseas defaults on a bank loan used to buy a product made by a U.S. company.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
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