The McCaul family’s trajectory traces the rise and tumble of the American blue collar worker, who thrived in the middle of the last century only to be beset by layoffs and wage concessions in recent years.
GE workers who normally make jet engines say their facilities are sitting idle while the country faces a dire ventilator shortage.
In a qualified victory, 1,700 UE members conceded a two-tier wage structure with a 10-year progression for new hires to reach parity with current workers, but beat back the company’s demands for a harsher version of two-tier and other concessions.
Starved for cash, an iconic American company takes apart the legacy it spent a century building.
Jeff Immelt’s resignation as CEO of General Electric shows that we cannot think of industry as finance’s opponent.
Charity analysis of the 50 biggest US businesses claims Apple have $181bn held offshore, while General Electric has $119bn and Microsoft $108bn
The impact of GE's move to Massachusetts remains unclear. The company said it expects to move roughly 800 jobs to Massachusetts, but the company has notoriously kept billions of dollars of profits offshore, leading to it typically paying a state tax rate of less than 2 percent.
Bernie Sanders wins backing of South Carolina AFL-CIO EBoard; Negotiations with General Electric continues with GE demanding concessions from workers; A judge rules that an Uber driver is an Uber employee, not a freelancer!
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