You would think a for-profit Company, especially a publicly traded company like GE, would always make decisions based on what is financially best for the business. Keep in mind, GE has not paid income taxes the past three years! You don’t make that happen with a multi-billion dollar conglomerate without doing several dances around tax laws and taking advantage of loopholes/tax-credits.
But, when it comes to taking a stand against gun violence, their position is crystal clear. In 2008, GE Capital stopped taking new clients in the gun-making industry and as of this week, announced they will no longer be serving existing clients any longer. This coming at a time when gun sales are out-pacing gun production and the demand for related products are at an all-time high. This is clearly an emotional decision and not in the best financial interest of the Company. However, although I disagree with them, I respect a Company that stands for what they believe in.
Read the full story here. Side note: GE Capital is headquartered near Newton, CT.
Other topics discussed on today’s show:
– Virgin airlines encourages flirting “in-flight” with new service.
– Bernanke DOES owe the American people. PERIOD.
– Tax Free shopping online looks to be over very soon.
– The best way to create and develop business relationships.
– 3 great tips to improve or protect your credit score.
Listen to today’s show here: