Tag: General Electric

Another Offshore Wind Company Expects Huge Losses

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Another offshore wind company has announced that it is expecting to take considerable losses as the industry continues to struggle, Bloomberg News reported Tuesday.

General Electric anticipates that it will lose $1 billion on its offshore wind operations this year, and that it expects to lose a similar amount next year, GE’s CEO said Tuesday, according to Bloomberg. The announcement is the latest sign of trouble for the offshore wind industry, which has seen other leading companies take substantial losses as supply chain woes, inflation, logistical problems and higher borrowing costs have eaten into profit margins.

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Raphael Warnock Swore off Corporate PAC Money – but Took Thousands from PACs Funded by Big Corporations

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Sen. Raphael Warnock has collected tens of thousands of dollars in campaign donations from political action committees (PAC) funded by corporations this election cycle, records show. At the same time, the senator has said he’s “never taken a dime of corporate PAC money” and pledged not to do so.

Warnock’s campaign took $29,600 during the first and second quarters of 2022 from Democratic leadership PACs that have in turn accepted $1.6 million from corporate-backed PACs since 2003, according to Federal Election Commission records (FEC) reviewed by the Daily Caller News Foundation.

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General Electric Says It Won’t Require Vaccine after Supreme Court Strikes Down White House Mandate

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General Electric Company

American corporation General Electric this week announced that it would no longer require its 56,000 employees to undergo either the COVID-19 vaccination or regular testing after the Supreme Court struck down the White House’s employer vaccine mandate.

The company suspended its enforcement of that policy on Friday, one day after the court said the Biden administration could not force large U.S. companies to require vaccinations for their employees.

President Joe Biden has urged companies to continue with their own personal mandates after his administration’s own efforts were stymied by the Supreme Court.

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When Asked If They Identified as ‘American,’ Many US Corporations Stand Silent

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by Tim Pearce   Ten international corporations contacted by The Daily Caller News Foundation got their start in the U.S. but stayed silent when asked if they saw themselves as “American” companies. Nine others responded to TheDCNF’s inquiry by either identifying with their American heritage, obscuring their loyalties or declining to comment altogether. TheDCNF wanted to gauge the commitment of international corporations with roots in the United States to keeping an “American” identity. TheDCNF did not define what an “American” company looks like or list out any principles or ideals that “American” companies are committed to, leaving each business to attach meaning to the name if one chose to stand by it. Representatives for Amazon, Apple, Chevron, General Electric and others did not respond to TheDCNF’s inquiry. A spokesman for the health care giant UnitedHealth Group asked for clarification of the question but never responded after clarification was given. The tech companies Google, Facebook and Twitter – all headquartered in California – are under distinct pressure to increase transparency and be upfront about their commitments, especially as it relates to censored content. Conservatives especially have taken issue with the tech giants’ policies, and U.S. politicians are wary of the companies’ operations in…

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Another Wave of Spin-Offs Leaves General Electric Vastly Changed

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General Electric Company

General Electric Company is shrinking again, becoming a mere shadow of the globe-spanning conglomerate that it was before the Great Recession. GE said Tuesday that it will spin off its health-care business and sell its interest in Baker Hughes, which provides drilling services to oil and gas companies. The moves were announced as GE disappeared from the Dow Jones industrial average for the first time since 1907. They underscored how radically the company has changed in less than a decade. GE traces its roots to Thomas Edison and the invention of the light bulb. The company grew with the American economy. At the start of the global financial crisis in 2008, it was one of the nation’s biggest lenders, its appliances were sold by the millions to homeowners around the world, and it oversaw a multinational media powerhouse including NBC television. Since then, the company has been selling assets, with the latest divestitures coming after a yearlong review by CEO John Flannery. “Today marks an important milestone in GE’s history,” Flannery said. He vowed to give the company more of a high-tech and industrial focus, and to make GE simpler and stronger by focusing on aviation, power and renewable energy…

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