ST Alpha - "Unlike, say, General Electric. I was shocked at the Forbes story the other day regarding the top 10 corporate cash reserves." (Reading a Post)

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In response to "it's only bad for people to pay no income tax when they're poor people -- nm" by moles

Unlike, say, General Electric. I was shocked at the Forbes story the other day regarding the top 10 corporate cash reserves.

Posted by Trish (Hail to the V!) (aka trisha) Jul 29 '11, 17:09

And by cash, I mean "CASH", not something that has to liquidated to get cash. Number 1=General Electric. On top of their billions in profits, they have a cash reserve of $1.7 billion. Yet, they've laid off or bought out over 300k employees over the last 8-9 years. They've also gotten numerous government contracts in spite of paying ZERO taxes.

I guess moving your headquarters to Bermuda not only allows you to be a snappy dresser, but also relieves you of tax liability, too. It's win-win!

Responses:

It's a good thing Obama took a stance against such bullshit and didn't reward GE's CEO with a chairmanship on a President's Council... - Stephen Jul 29, 18:34
That seems a bit low for #1, from what I've heard if MSFT, GOOG, and APPL ... but it could be a technicality -- nm - Beryllium (iPhone) Jul 29, 17:23 1
- There are others which have high cash reserves + securities that are easily liquified that come out to more than GE, this list looked at *cash* only - Trish (Hail to the V!) Jul 29, 17:43

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Unlike, say, General Electric. I was shocked at the Forbes story the other day regarding the top 10 corporate cash reserves.

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