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General Electric has sold its appliance business to Haier for $5.4 billion, a deal that will greatly expand the Chinese firm's footprint in the U.S. Haier is best known as a manufacturer of household goods including washing machines, refrigerators and microwaves. In recent years, it has sought to expand into new international markets, including the U.S.

The state of Massachusetts offered diversified manufacturer General Electric Co $120 million in grants and other financial incentives to persuade it to move to Boston, with the city kicking in another $25 million in tax relief, officials said on Wednesday. City and state officials regard the move as the linchpin of an effort to redevelop the city's southern waterfront, which has transformed from acres of parking lots to a massive construction site with about a dozen office and apartment towers under construction. "In addition to adding hundreds of high-paying jobs to our state, we look forward to partnering with GE...

GE finished a historic year of massive deals with one more win before the ball dropped in New York’s Times Square. On the last day of the year, the company announced a landmark power contract with the Saudi Electric Company valued at nearly $1 billion.

The company began looking to leave Fairfield, Conn., last year after state legislators threatened to raise corporate taxes. GE’s quest for a new global headquarters can be traced back to a decision by Connecticut Governor Dannel Malloy and Connecticut lawmakers last spring to significantly change business tax policies, to help fill a big state budget gap. The package, among other things, altered how multistate companies collect corporate taxes and how losses can be used to reduce tax bills over a period of years.

In 2011, Democrat Gov. Dan Malloy claimed to have exacted "painful" concessions from state employees. Here's how the employees' lead negotiator, Dan Livingston, described the deal: * On retirement benefits: "Now we have an 11-year pension and health care agreement ... that no other state worker in the country has." * On job security: "Four years' job security. Nowhere else in the country will you find four years' job security." * On wage increases: "Giving up the raise next year (3%) .. . to get three threes in a row in the three out years. ... Arbitrators around the country...

The real news in this story probably isn’t the subject of the Ex-Im Bank (which has some Republicans sneaking around with Democrats in an effort to reopen it) or even General Electric. This is a case study in how the media reports on relatively wonky subjects in an effort to bend public opinion in a progressive direction. In a very lengthy article at the New York Times we learn about the sad closing of yet another GE plant, this one located in Waukesha, Wisconsin. They manufacture huge industrial engines there which can sell for more than a million dollars.The...

You just got hired by GE. Why isn't anybody happy for you? That's the perplexing question facing a college graduate in BBDO New York's amusing new campaign, breaking Tuesday on The Late Show With Stephen Colbert. The problem, it turns out, is that the graduate, Owen, has been hired as a programmer—but everyone from his classmates to his parents thinks GE is still only a manufacturing company. This makes for some comically awkward ads, in which Owen tries to explain why people should be impressed by his new job—not giving him condolences or baffled stares.

Back in June we covered the story of General Electric throwing a fit of pique over the demise of the Export-Import Bank and threatening to ship their jobs overseas if the cookie jar wasn’t opened back up. The amount of sympathy which GE received from our readers and the conservative community in general was… muted to say the least. It seemed like a cheap, tawdry move which was designed to try to hold American workers hostage in exchange for getting what they wanted from the feds.That story took a rather odd twist this week when some new information came...

Blaming Congress' impasse on the Export-Import Bank, General Electric (NYSE:GE) said that it will move 500 U.S. jobs, some of which are deep in the heart of Texas, overseas to Europe and China in order to avoid losing business to foreign companies. The Lone Star State is one of the losers in GE's announcement Tuesday, as the U.S.-based jobs will be shipped from Texas, South Carolina, New York and Maine to France, Hungary and China. Lawmakers from Texas also have been vocal critics of the Ex-Im Bank.

General Electric is apparently not going to move to Texas because Congressman Jeb Hensarling doesn’t support the Export-Import Bank. Bloomberg cited the ever nebulous “people familiar with the matter” in their report on Friday. GE told Dallas business leaders in recent days it would look elsewhere for alternatives to its Connecticut home, said the people, who asked not to be identified because details aren’t public. They said GE cited some Texas lawmakers’ opposition to the U.S. Export-Import Bank, an important source of financing for some overseas sales. You can probably include Senators Ted Cruz and John Cornyn (allegedly), plus Congressmen...

Neither Dallas Mayor Mike Rawlings nor officials from General Electric would confirm on Friday reports that General Electric Co. had decided against relocating its global headquarters to the city because of Texas politicians’ opposition to the Export-Import Bank. Republicans Rep. Jeb Hensarling and Sen. Ted Cruz have each been outspoken in their opposition to the Ex-Im Bank, a federal agency that offers loans, loan guarantees and credit insurance to help U.S. firms sell their products overseas. Hensarling’s opposition to the bank has grown from a small movement two years ago to a full-scale rebellion, dismaying the bank’s supporters among major...

When House Majority Leader Kevin McCarthy headlined a fundraiser in early June the room was packed with defense industry lobbyists, but reps from one megacontractor were missing — Boeing. Not only was Boeing absent at that fundraiser, the contractor has cut off all political contributions to the No. 2 House Republican over his support for killing the Export-Import Bank, which facilitates billions of dollars in low-interest loans to U.S. exporters like Boeing. General Electric, also a major supporter of renewing Ex-Im and a benefactor of the agency, has followed suit and has not contributed to the California Republican this year....

While conservatives have been nearly unanimous in calling for the end of the Washington slush fund known as the Export-Import Bank, Congress will clearly remain under a lot of pressure from powerful business interests. The authorization for the bank is due to expire at the end of this month, so no real action is required to make it go away beyond simply doing nothing. Given how that’s what Congress is usually best at, this sounds pretty easy, but one major employer has begun leveling threats as to what will happen if they don’t get to keep the scheme in place....

General Electric is exploring a move from its Connecticut headquarters after it objected to tax aspects of the state's recently passed budget. The Connecticut legislature on Wednesday approved a $40 billion budget that would increase some business taxes. In a Thursday email provided by GE, CEO Jeff Immelt told Connecticut-based employees that he has put together a team to evaluate a move to another state with "a more pro-business environment." Immelt claims the company's state taxes have increased five times since 2011 and the new budget would impose "significant and retroactive tax increases for businesses." GE—which employs more than 5,700...

HARTFORD – As Gov. Dannel P. Malloy said Thursday he was open to tweaking the tax side of a budget that has alarmed several large Connecticut employers, General Electric told employees it has assembled an exploratory team to look for "another state with a more pro-business environment."

The US-India defence relationship needs an engine to drive it, say leaders on both sides. But there are different perceptions on what that engine might be. Americans believe the engine should be the "Defence Trade and Technology Initiative" (DTTI), a high-level committee of officials from both sides that moots projects for working together, and removes bureaucratic roadblocks. In January, when President Barack Obama met Prime Minister Narendra Modi in New Delhi, they "emphasised the ongoing importance of the (DTTI) in developing new areas of technology cooperation", according to a joint statement issued at that time. Indian officials are focused on...

Mitsubishi UFJ Financial Group is said to be among 12 companies which have signed non-disclosure agreements over the prospective acquisition of GE Capital Sponsor Finance. According to peHub, which first reported the news, other companies that have signed NDAs include Apollo Management and Ares Management. Other potential buyers are said to be Blackstone Group LP, Wells Fargo & Co, and American fleet management company Element. GE Capital Sponsor Finance is expected to sell within 90 days. In April, General Electric announced it was selling its global fleet management and leasing businesses because it was becoming increasingly difficult to generate a...

If you needed any more proof that you can make absolutely anything with a 3D printer, check out this video from GE. To showcase the versatility of 3D printing as a manufacturing process, a team of engineers at GE recently built a fully-functional, backpack-sized jet engine made entirely from 3D-printed parts. And it’s not just for show either — the team actually fired the engine up and took it up to 33,000 RPMs to demonstrate how robust the parts are. Now, obviously, since this is a jet turbine we’re talking about here, it wasn’t printed in ABS with the latest...

Try as I might to get away from the “Hillary, Hillary, Hillary” meme, I just can’t stay ahead of the baggage backup. Isn’t anyone going to claim this baggage?At the rate it’s flying down the chute these days even some of the MSM have been forced to acknowledge a few of the unsavory facts still swirling around our American Power Rangers. Whoa! That’s quite a bubba nose one of our Power Rangers is sportingStarting with formerly reliable (and supportive) Ron Fournier in the National Journal who writes an article titled “The Questions Hillary Clinton Doesn't Want Answered About the Clinton Foundation”...

Cities on both U.S. coasts will soon begin piloting new GE technology designed to help them become more intelligent and efficient. San Diego, California, and Jacksonville, Florida, will both be trialing a new GE LED solution, which uses LED street lighting installations to connect, collect and analyze data being generated, harnessing the power of the Industrial Internet to help their city run better while providing new services and conveniences for residents and visitors. From high street lighting costs to traffic congestion, parking allotments and emergency response, cities across the world juggle a variety of challenges. GE is developing solutions that...