Daily Outrage: GE gets nearly $25 million from stimulus and dumps 18,000 workers 

WHAT: Corporate giant General Electric dropped 18,000 U.S.-based employees in 2009, despite getting $24.9 million from U.S. taxpayers in the $787 billion economic “stimulus” law of February 2009. GE revenue was $156 billion in 2009.

HOW: GE was the primary recipient of 14 stimulus grants from four federal departments and was hired as a contractor on four additional grants. Meanwhile, it started 2009 with 152,000 U.S. workers and by year’s end it employed only 134,000.

WHY: The stimulus grants all went to GE’s Global Research Center. One Justice Department grant gave GE $999,955 “to develop a comprehensive reasoning system for event and scenario recognition for an intelligent video system.”

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Staff Report

Staff Report

A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
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Tuesday, Oct 6, 2015


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