• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

GE Sells to Saudis.

Mike

Well-known member
Don't know exactly where this post fits...........................

Saudi Arabia has agreed to buy General Electric's ailing plastics division for $11 billion.

The deal is the largest ever completed in the Persian Gulf, the Telegraph of London reported Saturday.

The GE division is being bought by Basic Industries, which is a world-leader in chemical manufacturing and is 70 percent owned by the Saudi government, the Telegraph said.

Analysts had expected the division to sell for between $8 billion and $10 billion. GE posted the division for sale in January after high crude oil prices cut into company earnings. Sabic, as the Saudi company is known, has plentiful access to the world's oil reserves.

GE is expected to transfer some of the profits from the sale to its healthcare business. GE Plastics specializes in polycarbonates used for applications ranging from riot shields to compact-disc cases and its proprietary Lexan is used in roofs, lighting, walkways, windows and domes.

GE Plastics operates in 21 countries, including the fast-growing markets of China, India and Brazil.

Copyright 2007 by United Press International


Publication date: 19 May 2007
***********************************************

Word has it from a high up GE employee that GE is selling to build a plastics plant in China.

These big corporate conglomerates are selling us out for profits folks! Wake up!
 

Maple Leaf Angus

Well-known member
Wake up - and what?

Many years ago the theater (38?!), I watched one of those little mini-movies before the real movie started and it left an indelible impression on me.

It showed a little skinny guy racing around madly, working hard to "aquire" what he needed - food, a house, a bike and then a vehicle. All of what is included in the American dream.

He was "successful", very "successful", and grew into a bigger guy. And bigger, and bigger, as he aquired more of what was around him.

He soon became much bigger than anything around him, but did not stop aquiring and consuming. His appetite grew as fast as he did, and he soon started grabbing and consuming all of the people, businesses, houses, condos that he could get his greedy hands on.

He became a huge, obese, ungainly character that pretty well filled the screen, and was 90% of the picture. As he consumed, the few little people that were left around him became skinnier and more desperate.

Finally, he became so large and unwieldy that he stagnated into indifference and became lethargic and unable to even feed himself.

The starving little people looked on and began to pick away at the hulking monolith that was unable to defend itself. Soon, their picking turned into outright devouring, and the sight of all those hungry little figures gouging and chewing into that huge figure was totally disgusting.

They completely tore down and consumed that formerly immense guy until there was left barely a shadow of his inital, tiny state.

I remember little of the movie we saw that night, but I surely have not forgotten the message of that mini-clip.

And I think we are seeing the reality of it unfolding right before our eyes today in stories like you posted above, Mike. Not that I like it, either.
 

Mike

Well-known member
Wake up - and what?

Wake up and take note, after all don't we have a choice on where we spend our money?

Interesting story there Maple. Except the conglomerates ain't gonna lay down and be consumed. THEY are the predators.
 

kolanuraven

Well-known member
I had heard rumors of this thru my father via the "engineer grapevine" where he works.

Honestly if we had some way to know EXACTLY who owned what....we'd all be shocked!!
 

Latest posts

Top