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Non-Tech : Kirk's Market Thoughts
COHR 181.67+2.4%Dec 5 9:30 AM EST
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To: robert b furman who wrote (3269)7/31/2015 12:52:32 PM
From: Kirk ©  Read Replies (1) of 26710
 
I can just hear the president saying "I told you so."

finance.yahoo.com
  • GE is taking steps to shift some U.S. manufacturing work overseas since the U.S. Export-Import Bank will be shut down at least until September, Vice Chairman John Rice tells Reuters.
  • Rice, who runs GE's global operations, says the company is bidding on more than $10B worth of projects that require support from an export credit agency.
  • But Ex-Im has been unable to consider any new financing requests since Congress allowed the bank's charter to expire on June 30, so GE says it is arranging with ECAs in other countries to finance the deals involved, with much of the production going to GE plants in those foreign locations.
  • Rice says GE is not moving to shift work and jobs overseas "just to make a point" to Congress, but to win contracts that require export credit agency support, saying "We're doing this because if we don't, we can't submit a valid tender."

seekingalpha.com
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