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Posts Tagged ‘General Electric’

House Votes To Kill F-35 Second Engine Program

HuffPost- Elise Foley

First Posted: 02/16/11 03:48 PM Updated: 02/16/11 05:44 PM

Amanda Terkel contributed reporting.

WASHINGTON — More than half of the House Republicans voted on Wednesday to earmark $450 million in funds for a duplicative fighter-jet engines that the Department of Defense has repeatedly said it does not need. But a bipartisan coalition, including just over half of GOP freshmen, voted against the F-35 engines, approving an amendment to strip an expenditure long bemoaned as pure pork, but defended by members of Congress from the states who would benefit from the project.

Support for or opposition to the project had more to do with region than party. Members from Ohio and Indiana, where General Electric Co. and Rolls-Royce would build the fighter engines, unanimously backed the extra engine. House Speaker John Boehner of Ohio is an outspoken supporter of the jet engine, but didn’t cast a vote, observing the speaker’s tradition of abstaining. The opposition from inside his party to a pet-project of Boehner’s is a rebuke to the speaker.

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GE to pay 23 million dollars after Iraq bribery charges

Via: Raw Story- By Agence France-Presse
Tuesday, July 27th, 2010 — 12:57 pm

US industrial titan General Electric has agreed to pay over 23 million dollars to settle allegations that it bribed Iraqi officials, a US financial watchdog said on Tuesday.

GE had been accused by the Securities and Exchange Commission of being part of “a 3.6 million dollar kickback scheme with Iraqi government agencies to win contracts to supply medical equipment and water purification equipment.”

Four subsidiaries of the Connecticut-based company were accused of bribing officials at the Iraqi ministries of health and oil, trading cash, computer equipment and medical supplies to win lucrative contracts.

The SEC said the four GE units — two of which were not part of the firm when the alleged bribery took place — earned around 18.4 million dollars as a direct result of the kickbacks.

“Bribes and kickbacks are bad business, period,” said Robert Khuzami, the head of the SEC’s Division of Enforcement.

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