GE to return $3.2 billion to US Treasury

[Muddy]

Facing criticism over the amount of taxes it pays, General Electric announced it will repay its entire $3.2 billion tax refund to the US Treasury on April 18.
http://lolfed.com/wp-content/uploads/ge-imagination-at-work.jpg

GE uses a series of foreign tax havens that the company says are legal and that led to an enormous refund for the 2010 tax year.
The company earned $11 billion in 2010 on revenue of $150 billion.
The company, based in Fairfield, Conn., plans to phase out tax havens over 5 years and said it will create one job in the US for each new job it creates overseas.


http://www.wric.com/Global/story.asp?S=14437618

[Teh One Who Knocks]

:faint:

[RBP]

wow

[Muddy]

I went back and checked the date on the story to make sure it wasn't a left over from the April Fools story's that were out there.. :lol:

[FBD]

GE's fairfield compound is pretty impressive...a very nice elevator brings you inside a cliff face down, down,...8-10 floors iirc.

They've reaped so much benefit, this doesnt strike me as much more than a token gesture for political correctness' sake.

[samarchepas]

http://finance.yahoo.com/news/Yes-Men-claim-hoax-GE-tax-rb-2738786346.html?x=0

It was a hoax...



:facepalm:

[Acid Trip]

http://finance.yahoo.com/news/Yes-Men-claim-hoax-GE-tax-rb-2738786346.html?x=0

It was a hoax...



:facepalm:

Samarchepas is correct. It was just reported as a big hoax.

[samarchepas]

I was skeptical when I saw it...no report on CNN...fast google search and...BAM..hoax :lol:

[RBP]

:slap:

[Muddy]

http://techpatio.com/wp-content/uploads/2010/04/homer-doh.jpg

[samarchepas]

They won't give that 3.2B$ unless they are FORCED to (like they should do in the first place...like everyone else)

[FBD]

AP wont fact check unless they're FORCED to? :dance:

[Teh One Who Knocks]

I should have known it was a hoax right off since businesses in the US don't get tax refunds :doh: