greed

25 Mar

Meet GE, Corporate Citizen

By Walter

Allow me to introduce you to General Electric, labeled by the NY Times this morning as “the nation’s largest corporation.” On second thought, let’s let GE introduce itself. Here, on its website, is how it describes its role as a corporate citizen:

“GE’s approach to corporate citizenship and to business are[sic] driven by a common understanding of the role we can play in helping to solve the world’s toughest problems. Our goals are to make money (strong, sustained economic performance), make it ethically (rigorous compliance with financial and legal rules), and make a difference (ethical actions, beyond formal requirements, to advance GE’s reputation and long-term health).”

Journalist David Kocieniewski presents quite a different picture, beginning with the fact that GE made a profit of more than $5 billion in the US last year (and a total of $14.2 billion worldwide), and paid not one cent in taxes.

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