General Electric Has An Answer For Bernie Sanders

General Electric's CEO responded to the comments made by Bernie Sanders

General Electric Company’s Chief Executive Officer Mr. Jeffrey R. Immelt has finally come upfront to respond to Senator Bernie Sanders- the Presidential Candidates remarks on his company. According to Mr. Sanders, General Electric has destroyed the “moral fabric of the United States.”

Washington Post recently published an article where Mr. Immelt responded to the remarks made by Mr. Sanders recently. The crux of the article was that Mr. Bernie Sanders Is extremely judgmental about General Electric and his perception about the company is wrong.

Mr. Sanders made these comments during an editorial board meeting of the New York Daily News. The Senator was asked for examples that portray greed in its worst form in the United States after which GE was mentioned to have crossed all boundaries.

The reason behind this statement was that the company has moved several job opportunities outside the country so that they can cut on the wages of employees to regions like India and Mexico. He stated, "What we have seen over the many years is shutting down of many major plants in this country, sending jobs to low-wage countries."

As a response, the CEO of General Electric explained that the industrial giant takes risks, invest, innovate and produce in ways that today sustain 125,000 US jobs.” He particularly mentioned about the company’s aviation plant situated in Rutland, Vermont which has been in operation since 1950s where the company has been making hefty investments that have accumulated to $100 million over the past couple of years. The company has not just hired but has come up with some of the best components for jet engines across the globe.

Mr. Immelt alos pointed out that the company has employed almost 1000 individuals at its Vermont Aviation plant whereas throughout the state, they have 340 employees catering health care. There are almost 200 facilities that are being run by the giant all over United State. Amongst them 15 services have surfaces in a time span of 15 years.

Jeffrey R. Immelt even talked about how Mr. Sanders is creating problems for the company merely because it has global footprints. It is natural for a company like GE to have global presence since it is rendering services in 180 countries.

Mr Immelt explained, “We are competing globally with foreign companies whose governments care whether they win and support them in innumerable ways. U.S. companies continue to wrestle with an outdated and complex tax code that puts them at a distinct competitive disadvantage.”

GE is certainly not the first company that has encountered criticism from Mr. Sanders. However, it is the first company to respond back to the allegations. The Presidential Candidate also targeted big banks such as JP Morgan recently.

In the end of the article, Mr. Immelt mocked Sanders by saying that it is easier to make such claims and promises during campaigns. However, it does not really bother them since they are in the business of real things since a long time and its prime agenda is to offer returns to stakeholders, employees and customers.