“Ideally we want our factories to be on barges so that we can take advantage of low wages anywhere in the world.”  Exactly!!!
This is the philosophy of the modern American multinational corporation.
Buy labor as cheap as possible and sell the product for as much possible…and for God’s sake pay no taxes!

Nobody embodies this philosophy better than GE’s Jeff Immelt.  Now he is exciting. Here is a guy who takes over an iconic American manufacturer back in 2000 and is looking to do some things.

And it was in following this great philosophy that’s helped Jeff strengthen GE by cutting 35,000 jobs in the United States and recreating them as 25,000 lower wage jobs overseas.  So brilliant a move that President Obama tapped Jeff to Chair his Council on Job Creation in the U.S.!

And it is not just factories and jobs that Jeff wants to park overseas.  GE has more than $94 billion dollars in GE’s earnings stashed away in offshore accounts.  And they’re not paying a red cent in taxes on it.

And during the financial crisis, Jeff got the treasury to give GE $100 billion in TARP money.  Genius!

Now that is one smart CEO!