but in order for g.e.he coming years, i've got to sell my products in every corner of the world. >> stahl: i mean, you may personally think of yourself as an american. but your customers are over there. you put your plants over there. you even put research... >> immelt: if i wasn't out chasing orders in every corner of the world, we'd have tens of thousands fewer employees in pennsylvania, ohio, massachusetts, texas. i'm never going to apologize for that-- ever, ever. >> president barak obama: i love coming to these plants. >> immelt: it's great. >> obama: because we actually see stuff getting made. >> immelt: 90% exported from here. >> obama: that's exactly right! >> stahl: immelt worked with the president to devise his $447 billion jobs package. and now this week, he and his jobs council that's been holding meetings all around the country will give mr. obama more proposals, such as reducing government regulations and spending more to retrain workers. if the republicans say the government shouldn't spend,

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the company said g.e.onsumers but inadvertent damage including potential for shattered glass in use of care. avoid scratching or impacting glass doors, cook tops or control panels. doing so may lead to glass breakage. they could not see how bad the damage must be to result in shattering. breaks are very rare but the company uses tempered glass just to be safe. tony has been repairing appliances for 30 years. most vulnerable glass is the piece inside the oven door especially after running a cleaning cycle. martha is sure she didn't damage the door. however, after we got involved, g.e. stepped up and did replace her glass for free. >> it really does work to call "7 on your side." >> consumer products safety commission citizen there is no recall for this problem. we would like to thank g.e. for accepting up to the plate and fixing things. >>> coming up next, the originst [ female announcer ] once you taste new fiber one 80 calories... ...with its sweet honey taste, 40% daily value of fiber... ...and 80 calori

g.e. payed taxes. you and your listeners paid more faxes than g.e. paid. one was -- more taxes than g.e. paid. there are about $150 billion of tax earmarks where they get prominent big lobbyist law firms to get a certain tax earmark from. we can low -- i believe we should lower the tax rates for corporations, lower the tax rates for individuals similar to what they talked about in the simplessh simpson-bowles commission. you have to reform the entitlements and then close these tax loopholes. but for g.e. not to pay any faxes, that's just not right. host: last call for you is from minneapolis. go ahead. caller: hi. congressman wolf, thanks for your good work. i also supported you on tarp. i think the idea of protecting the integrity of the united states financial institution is important. i am particularly calling about freedom of relidge only. i think that's an important component that the united nations doesn't address enough. and that freedom of religion also allows for freedom of thought and freedom of inquiry. and i think that that's one thing that has

of course death and all this is the chairman of g.e. is the head of obama's jobs council he is the jobs czar you raise eyebrows when he recently did that interview on sixty minutes and was pretty unapologetic about the fact that i mean are you sure is is you know not in the united states you mentioned him is that an example of the kind of person that these free trade agreements benefit benefit general electric but if it's going to benefit all the big corporations that are close to the president. that need to create jobs. but if they're creating jobs abroad following along with jeff immelt school of thought he says that's what allows him to create and sustain the jobs that he has in the united states to have us djimi ten billion dollars worth of profits last year they could easily afford to create jobs this is about making you know what a billion more i mean isn't a profit pretty good well it might be but as he said in his interview he doesn't work for anybody but shareholders and he has to deliver profits so is the bigger issue is that

and that obviously would make those g.e. products and g.e.'s employees in maine all that much more competitive. for maine's wood pulp producers, korea is already the second-largest international market that they have. exports to korea account for nearly 17% of the total production coming out of the pulp mill in woodland, maine. in an e-mail to my office, burt martin, a director of the pulp mill in washington county, had this to say about the importance of the korean market to his business operation in maine: he wrote. "free trade with asian countries means that we have an operating pulp facility in woodland, maine. koreans are good-paying customers, high revenue, and they are an important part of our market markets" maine's bluy growers also will benefit from the phase-out of tariffs on wild blueberry products. while i would have preferred to see the tariffs of blueberries eliminated immediately, the way that they are in many other products that i've mentioned, the tariff reductions that would come about as a result of this agreement will help

. >> g.e.aid no federal corporate taxes last year. >> and this. >> citigroup got the largest bank bailout, $45 billion. >> it would be easy for the sarnacolas to be bitter, but remember... >> corporations are people, my friend. >> so if corporations can be people, why can't people like the sarnacolas be corporations? i know you've been hit so hard, but you're about to get hit even harder with a huge can of you're welcome. you're no longer the sarnacolas. now you're amerifam. we asked corporate expert robert wiseman to help us give this family the advantages of corporatehood. >> well, one of the first thing that corporations like to do is lay off some of their workers and squeeze the ones left behind. >> cisco just raised profits by getting rid of 7,000 workers. looks like it's time for us to trim the amerifam. so, children, tl me a little bit about yourselves? do you have any hobbies? >> riding my bike. >> andrew, do you have any hobbies? >> playing. >> okay. i'm sorry, andrew. >> all right. an

g.e. fueled that anxiety today. it reported results that merely matched expectations and analysts noted profit margins in industrial units hit a low for the year.. still, analyst stephen tusa says don't read too much into the decline. >> everything we see from ge reflects what we're seeing from other, which is a solid growing economy, but one that is not growing as fast as it should be at this point in the cycle. >> reporter: we're barely a month into the fourth quarter, but already 27 large firms have made confessions about earnings, also known as pre-announcements. of those, 19 were negative and seven were positive and one was in line with forecasts. earnings experts jharonne martis says such early indications suggest firms will struggle for profits in the coming months. >> one interesting factor about the negative pre-announcements is that they're throughout all the sectors. it's not one specific sector whereas in the past we would see it in one particular sector like the financials, now we're seeing the negative

this means the stories you've heard for months about, say, g.e. not paying any federal tax for 2010 are simply wrong. journalists and analysts have taken the tax number companies use to calculate reported profits, and confused it with what they owe the i.r.s. they're not the same. there's a simple accounting fix for this. the financial accounting standards board can require companies to disclose information from their federal tax returns. that way, we'll know what they actually pay. sure, we'll still argue whether that's enough, but at least we'll be using the right numbers, instead of the wrong ones. go for it, fazz-bee! i'm allan sloan. >> tom: football is the most popular sport in the united states. tens of millions of television viewers tune in each week for nfl games. but for a handful of people, football is much more than a game, it's a business. real estate mogul steve ross is one of them. three years ago, he paid more than $1 billion for the miami dolphins, the most paid for a u.s. professional sports franchise. but the team has had a roug

but could still lose that's across the dark with two games left crossman's all four points behind on g.e. with those two remaining games. at the bottom of. the drop zone. that sexist rangers have taken a three two lead in baseball's world series affords a victory over the st louis cardinals it means the rangers can wrap up the title in game six in st louis on wednesday nights but they didn't have it all their own way in sex as they found themselves. by the second inning. and then skip shumaker given the cardinals and. however the rangers started with a run from mitch mall and ace pitcher chris carpenter and then in the six eight. home run to the game before mike you know pretty secure the big three with the bases loaded. to the right center field and four to finish the rangers with a three two series these in the best of seven contests and just a win away from being crowned champions. because we do out there and try to play the best game we can when. we can't be thinking about we've got to win this game because all of a sudden we might miss something we want to stay in the moment we just

and that obviously would make those g.e. products and g.e.'s employees in maine all that much more competitive. for maine's wood pulp producers, korea is already the second-largest international market that they have. exports to korea account for nearly 17% of the total production coming out of the pulp mill in woodland, maine. in an e-mail to my office, burt martin, a director of the pulp mill in washington county, had this to say about the importance of the korean market to his business operation in maine: he wrote. "free trade with asian countries means that we have an operating pulp facility in woodland, maine. koreans are good-paying customers, high revenue, and they are an important part of our market markets" maine's bluy growers also will benefit from the phase-out of tariffs on wild blueberry products. while i would have preferred to see the tariffs of blueberries eliminated immediately, the way that they are in many other products that i've mentioned, the tariff reductions that would come about as a result of this agreement will help

for g.e. are thought to be a u.s. citizen and our food flows of money and a fully equipped ambulance at a refugee camp near the capital mogadishu international aid agencies are prevented from entering the area it's believed to be a kind of first aid donation to the country works some seven hundred and fifty thousand face starvation. the u.n. secretary general has called israeli plans to build over two and a half thousand houses in east jerusalem on acceptable bunky moon criticize the israeli settlements for putting peace negotiations between israel and the palestinians at risk the palestinians want the west bank and east jerusalem as part of a future state and say they won't presume talks until all construction there is open . as host nation of the euro twenty twelve football championship ukraine is building stadiums am cleaning up to make an impression but there is a hidden victim stray dogs are being removed killed burned and immobile crematorium and animal rights activists are so angry they want the tournaments tak

just like g.e. and the rest of the corporate giants who not only pay no taxes but get tax rebates crowin the rest of the gang at fox so-called news made it pretty clear in recent weeks when it comes to siding with the ninety nine percent or the one percent they side with the one percent. years for a billionaire that's very very. covered up republicans are really good at messaging the perfect message has just gone into laps of progressive's tell you what it is and alchemy used to enact a real change in america that might be a little. less number given that we had an apartheid regime right here. i think iraq is beatable and one well. whatever government says they're going to confirm safe get ready because of their freedom. you know sometimes you see a story and it seems so. you think you understand it and then you glimpse something else here see some other part of it and realize that everything you saw you don't i'm sorry there's a big. democrats in wisconsin have not forgot about governor scott walke

often generated in the mainstream media that's why i think you need a sort of sense of a media college g.e. or that all this media at apple phys what's going on it makes it something that the public itself finds out about here in new york three by a three to one margin do yorkers say they support you know occupy wall street that doesn't mean they're all online they're reading about it they're seeing it on t.v. and they're going down to the park and they're meeting people there and getting you know exposed through it and turned on by it and we're seeing more and more surveys showing approval of the center the central message even though people don't know a lot of specifics about it the idea that people are fighting back or resisting or raising these economic issues or targeting wall street all of that is a turn on for people over the world and they're getting information from multiple sources and it's very interesting of it if we can go to john to see if i could is going to john real quick here john you know i think it's very interesting and we look at because bridge. how social media is us

just like g.e. and the rest of the corporate giants who not only pay no taxes tax rebates probably the rest of the gang at fox so-called news made it pretty clear in recent weeks when it comes to siding with the ninety nine percent or the one percent they side with the one percent. actually it is for billionaires that's very very ugly. coming up republicans are really good at messaging but fervent message has just fallen into laps of progressives they what it is and alchemy used to enact a real change in america and i believe. let's not forget that we had an apartheid regime right here and. i think the rock bombings feeding on the well. whatever government says they're going to keep you safe get ready because you get their freedom. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else and she hears you some other part of it and realized everything. you don't. charge is a big issue. democrats in wisconsin have not forgotten about governor s

went wrong and best hers wanted to insure themselves so what did they do they went to a company like g.e. which everybody should know and they took out insurance on those mortgage backed securities and those are credit default swaps and of course the rest is history housing it tain't everyone needed their insurance to be paid on their credit default swaps so a id tang's and gone bailed out and there are all sorts of people buying credit default swaps when maybe they didn't even own the same amount of mortgage backed securities in the first place but that's a naked c.d.'s and that is for an entirely different day but as we continue to talk about this more into our show as we get back with reggie middleton as it relates to bank of america now you for sure know what a credit default swap is. and you know go away stick around right here on capital count you're ready to talk about the mortgage giant countrywide will bank of america is still saddled with all of those foreclosed homes brought in on their books literally and not to mention tied up in litigation over them when we come back we'll

almost a decade several years before he was arrested in thailand we know that it's been reported that g.e. has spent as much as tens of millions of dollars on trying to hunt down another ten you know several dozen a million of dollars on the scene operation as well as bringing him to the united states which is really not just the last three weeks like you mentioned it's really years of hunting down this man trying to get him into u.s. territory that was a big ordeal because thailand found him not guilty twice yet the u.s. officials did end up snatching him onto u.s. soil so you know this klein the this term the merchant of death has been pointed quite a while ago up to the extent of the judge having to make the jury sign a pledge that they would not be looking this man up on the internet in the avoidance of sort of changing their opinion about what the case is all about but many analysts are saying that unfortunately richer boot has already lost the case in the court of public opinion a very long time ago and unfortunately for him could be well on his way to found being found guilty even

we're waiting to results from mcdonald's, the horizon, and g.e. -- verizon. bad news for meat lovers. the drought hurting the cattle supply. a sign of higher costs for restaurants and record meat prices are just ahead. mattel inking a deal for a barbie. she has a tattoo. this is raising eyebrows over appropriate toys for kids. it is meant for adult collectors only and not being sold in toy departments. i'm jane king reporting for wbal-tv 11 news. back to you. >> now i know what to get jen for christmas this year. pretoria's secret is out with something new -- victoria's secret is out was something new. >> this is the fantasy catalog. they have a treasure bra that is worth $2.5 million. i will tell you what makes it so expensive. >> i don't know if he is buying any of that. 46 degrees on tv hill. house of baltimore kids are spreading the gift of music. >> don't forget to e-mail us your response to our water cooler question of the day. what changes would it take for you to buy an electric car? you can share your response at wbaltv.com and on our facebook page,

some governments particularly the french are trying to effectively just solid financial grab for g.e. and say oh no hold your nose for a moment this is our chief not such. huge crisis we can get away with about twenty percent why do they say that because the problem is that ultimately these buying. could themselves end up being in need of government they launched the french government don't want to do that because the french government are deeply concerned about their own credit rating for the french government and mr sarkozy is terrified that he's going to lose the election next year and be thrown out of the abuser powerless as president. what with europe spece economic and political minds failing to get the greek economy back on track we as you what you think i should say could be a possible way out so make your votes on the art dot com home page this is what the votes are looking like so far almost half of you advise athens to follow america's footsteps and occupy an oil rich region just over a third say it's up to the greeks to work harder and spend the last nine percent believe g

companies who he says engage in similar practices with iran through their own subsidiary companies like g.e. hewlett packard and construction company caterpillar so did koch industries violate the law like it's too soon to tell at this point but it'll be interesting to see how the government views it copes actions on the full report is revealed and if they go after any of the other companies if the koch attorney was right. now we were turns night we have our monday edition of you said it i read it and then more fallout over the killing of breast born muslim cleric anwar for his just a secret memo written by the justice department that allegedly gave them legal justification to take a lot is like back in the. internet only when there were three mechanisms dougal were cut in just a short time but if. i have every right to know what my government should do if you want to know why i pay taxes. i would characterize obama as a charismatic version of american exceptionalism. you know sometimes you see a story at the scene so. you think you understand it and then you glimpse something else here see

of g.e. the head of the jobs ship he's in factories overseas and so bombs come and so they haven't been much change in the way. you know and we also we heard some reaction from the presidential candidate mitt romney called these protests dangerous class warfare with your reaction to these movements getting these kinds of labels. well i mean it is class warfare. perhaps it is dangerous i hope corporate c.e.o. see this is dangerous it's not clear certainly we haven't seen anything this esteemed against wall street since the thirty's we've had people camped out for weeks and the question is how much does a rogue room in the thirty's we have the bonus armies we have hoovervilles some of kind of encampments so does this go on for months at a time and if so how is that going to change the public narrative and how is how are they going to reach out to other groups to create change in specific actions and that's the real mission right you know and ultimately ultimately do you think politicians will l

companies really says engage in similar practices with iran through their own subsidiaries companies like g.e. hewlett packard and construction company caterpillar so did koch industries violate the law i think it's too soon to tell at this point but it'll be interesting to see how the government views it copes actions in the full report is revealed and if they go after any of the other companies if the koch attorney is right. now we were turns nine we have our monday edition of you said it i read it and then more fallout over the killing of us born muslim cleric anwar locking gustus secret memo written by the justice department that allegedly gave them legal justification to take a lot is life that can still. broadcasting live coverage from our studios in a central moscow this is our let's get right. no end to the anti the wall street rallies as momentum behind the protests builds just by chance arrests and allegations police used excessive force amid calls for an american spring more than seven hundred demonstrators were arrested on that saturday after marching on to the brooklyn bridge at

they're sending from spain we have to think about how we could do that instead of what we've got now a g.e. sending our technology it over to china so that in ten years we won't be making planes and not just china i've got to explain every we're going to earlier country . so this is interesting i've spent a week in order going to was the last chapter of my last book threshold was about it's called in the jet of the dragon and and if it's it works and they've gone international as you point out do you think that we've reached a tipping point with this kind of capitalism in the united states that there is or is this simply going to be one of the options look at i actually think that it's at a point in time where there's i think a number of forks in the road and the. the events that are going on on wall street and that are going to go on to other cities is the ninety nine percent of us that have been left behind saying we don't like the way things are going we've had enough we've got to find new ways so we're going to challenge the dominance of wall street want to challenge the way that capit

and g.e. the companies that don't pay taxes. >> bailouts for wall street. >> bill: absolutely. >> bailouts people on the left and the right upset. >> bill: that's not what this is all about, juan. this is i hate capitalism. i want the socialist nirvana. i'm going to disrupt everybody's life to make my point. that's wrong. i will give you the last word. >> here is what you are missing. most americans in the fox news poll. taxes raised on people making more than 250. they agree right now that the rich aren't paying go back to wall street. those guys are getting big bonuses. big payouts. the government bailed them out. >> bill: if i said do you want taxes to be raised on your fellow americans and continue to waste all the money we are wasting. >> waste is a separate issue. now. >> bill: the issues are connected. >> i will tell you, president obama and the democrats are creating a pitch fork brigade to go against the tea party and it seems to be working. >> bill: we will see. juan williams, everyb

you say that, you know, g.e. and the other corporations are stashing all this money abroad and you are absolutely right and not paying any taxes. the underground people who don't pay tax bus they make money off the books that is going to remain because you don't have a sales tax of any kind. >> well, we have a sales tax and substantial number of the states. but i will tell you that herman's problem with that is going to sell it to places that already have a sales tax. or those that don't have one. i don't think i don't think that americans trust to give them another form of revenue coming in. until there is a balanced budget amendment to the united states constitution which i call for in my plan, that americans aren't going to trust government coming up with a new source of money. >> get in the pockets sales tax 2%. no federal revenue coming in from a whole bunch of people who are making money off the books and you know it's a trillion-dollar a year problem and that's a lot of money that the feds are not getting

g.e. payed taxes. you and your listeners paid more faxes than g.e. paid. one was -- more taxes than g.e. paid. coburn tried to close the loophole, and that is not a tax increase. there are about $150 billion of tax earmarks where they get prominent big lobbyist law firms to get a certain tax earmark from. we can low -- i believe we should lower the tax rates for corporations, lower the tax rates for individuals similar to what they talked about in the simplessh simpson-bowles commission. you have to reform the entitlements and then close these tax loopholes. but for g.e. not to pay any faxes, that's just not right. host: last call for you is from minneapolis. go ahead. caller: hi. congressman wolf, thanks for your good work. i also supported you on tarp. i think the idea of protecting the integrity of the united states financial institution is important. i am particularly calling about freedom of relidge only. -- religion. i think that's an important component that the united nations doesn't address enough. and that freedom of religion also allows for free

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we'll hear from g.e., mcdonald's, and verizon before the bell. futures are looking okay.daq up 3.75. s&p 500 up 1.5. >> okay. i'll take that. what's making headlines on cnn money this morning? >> you can put more money away for retirement tax free. or at least pretax. check this out. this is on the cnn money.com main page. the irs is raising the 401(k) contribution limit to $17,000. it's been at $16,500 since 2009. the reason it's going up now -- inflation.

that's how you get the current situation where warren buffet pays less than his second, as we hear or g.een they have income. they are the powerful ones. they hire the lobbyists and lawyers and get the tax code manipulated to favor them. get rid of all the deductions these big corporations have been paying for years to get into the code. you throw them out and you level the playing field so that everybody has to pay the same rate. on top of that, on the progressivity, what rick perry has done is include a $12,000 personal exemption. a family of four earning 50,000 dol still paying zero income tax. the family of four earning $100,000, their effective rate is on the second half. it is not until you get up into the millions where you approach an effective tax rate of 20%. i this i this tax code has hit all of those buttons, still progressive. it eliminates the unfair loopholes that everybody hates and brings in the revenue. and, it is optional. that's an important point. this has been tried in hong kong, for example. optional flat tax. the people love it. i would rather spend five minutes fi