John EDWARDS for President Message Board

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Politics : John EDWARDS for President

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To: Ann Corrigan who wrote (415)	2/21/2004 8:28:46 PM
From: Lizzie Tudor	Read Replies (3) of 1381

GE forced to allow outsourcing issue on ballot Feds back IUE-CWA bid for shareholder vote on a study of damages to the company from job exports FAIRFIELD, Conn. -- General Electric Co. must allow a shareholder vote on a proposal to study the risk of damage to the company's brand name by moving some jobs and work outside the United States, the U.S. Securities and Exchange Commission ruled. "The migration is much more serious now and frankly I think we have a much better understanding of the impact," said Tony Daley, a research economist at the IUE-CWA, whose pension fund owns 92,400 GE shares. "Jobs are threatened now for blue-collar and white-collar workers. We as shareholders are concerned about the value of the stock in the last two years." The IUE-CWA has seized on the export of U.S. jobs abroad as the issue becomes a focus of the U.S. presidential campaign. The economy has shed 2.1 million jobs since President Bush took office, and U.S. Sen. John Kerry of Massachusetts, the leading Democratic candidate, has called Bush "Benedict Arnold" for moving jobs overseas. timesunion.com

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