GE shuts down light bulb plant in US, moves to China, American workers too expensive and too stupid

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11/12/10, "General Electric to sink $2 billion into China development as production moves from US," Daily Mail UK

"General Electric Co. plans to sink more than $2billion into its efforts in China through 2012. The conglomerate has shifted more production from the U.S. to China and also looks to build new partnerships there.

GE said Tuesday that it will likely spend $500million on research and development and new customer innovation centers, adding more than 1,000 new jobs.

• More than $1.5billion is expected to be put toward new joint ventures with Chinese state-owned enterprises in high-technology sectors.

The company is also moving more manufacturing abroad. Last month it shut a lightbulb factory in Virginia and will relocate those 200 jobs to China.

The U.S. workers were deemed too expensive and lacked the necessary skills for the new energy-efficient bulbs.

• The news of the $2billion comes a day after GE named John Rice head of global operations. In that role, Rice will concentrate on growth in markets including China, India the Middle East and Brazil....

GE also is involved in a joint acquisition with State Grid-owned Shanghai Electric Power Co. for a controlling interest in Shanghai Tianling Switchgear Co., a Shanghai-based

• green power distribution equipments maker."...

via Weasel Zippers. getty photo