The giant sucking sound continues: GE looks to offshore yet more

[Populist_Prole]

http://www.dieselprogress.com/February-2015/India-To-Be-An-Engine-Hub-For-GE/#.VON_tC7dURY

First they erect a non-union locomotive plant in Ft Worth Tx to phase out their union plant in Erie Pa, now they're looking to build their prime movers ( the actual diesel engine in a locomotive ) in India.

[closeupready]

1. 'to India' - heh, how about that.

[whatthehey]

2. Some interesting numbers

GE employs worldwide about 305,000 people. 135,000 in the US. Just a hair over 44%. 2013 data. The company is a bit secretive with revenue data by nation but the last official datum I can find is from 2011 which spoke to the strategic importance of revenue from growing economies overseas and mentioned that the US was just 46% of their revenue, down from 65% as recently as 2002. It's hardly impossible then that in the intervening 3 years their revenue and employment ratios are pretty well synced. My own employer is also now ROW>US for revenue, and while we are still US employees in a sizeable majority, all the new plants and most of the reinvestment is following the income curve.

Is this right? Depends on POV. It is however global. Foreign companies, say Toyota, don't have plants in the US because they hate their domestic workers but because they want the preferential fiscal and logistical circumstances that come from building goods here both for this market and for export to nearby trade partners. I doubt GE is immune from those considerations.

[Wellstone ruled]

3. Appears GE doe not want to

comply with the new EPA regs coming down the road. Foundry operations just by nature are damn dirty and India is a plain sewer and arm pit of the planet. BTW,the cheapest source of Iron Ore is Australia and the estimate is the new mine has some twenty to thirty year life span. GE is just a Multi-National blood sucker,the new markets for their Locomotives is India,China and China. Here in the U.S.,the Rails have tons of Motive Power do to the collapse of Coal usage. Major pipelines are scheduled to replace a big piece of the railing of Crude Oil. With saying that,watch for a couple of Rails to merge.