Band Of Rebels Targets Local GE Facilities

Band Of Rebels, an economic justice advocacy group composed mostly of retirees held their weekly demonstration outside of local GE facilities on March 12.  The event was held on South Avenue near East Henrietta Road.  Few people are probably aware that GE maintains two sprawling facilities down the hill in the Rochester Science Park.  The facilities specialize in industrial digital communications technology, which could easily be deployed in weapons or surveillance equipment.

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al Electric is often thought of as a manufacturer of light bulbs and refrigerators.  But it is also one of the largest manufacturers of jet engines and other components of weapons of mass destruction.  The company is one of the most profitable in the world.  GE paid no federal taxes between 2008 and 2010 and received a refund of over $4 billion.  

GE is perhaps the worst example of corporate-government collusion to evade taxes and receive corporate welfare.  Many of its accountants are former US Treasury officials.  The company spent $26 million on lobbyists in 2011.  It shifts profits overseas to tax havens like Bermuda and Singapore, thanks to its friends in high places.  These same "friends" net the company lucrative federal contracts.  

GE paid their CEO $21.4 million in 2010 which works out to $10,700 per hour.  Their vice chair was paid $5 million plus a $4 million Manhattan condo.  Total executive compensation for one year $76 million.  Yet it qualified for "corporate welfare" receiving a refunds of $4.6 billion between 2008 and 2011.  Where are all the complainers about "welfare queens" now?

More of local interest is its impact on New York State.  Had the company paid the same tax rate as everyone else, it would have paid an additional $560 million in State taxes between 2008 and 2010.

Those interested in becoming involved in the fight for economic justice can contact Metro Justice at 585-325-2560.