I just learned that General Electric was bought out at 90% by haier, a company that hails from the Peoples Republic of China.
I am sick of companies selling out to the PRC, and I think it's time the US take action against these companies by seizing the shares and also by punishing those who recived money from this deal by taking it and fining them the same amount plus a flat fine.
Biden obviously will refuse to do this so we need to pressure Trump not to concede and activate the Insurrection Act.
Ugh, FFS.... Haier has been making appliances with the GE nameplate under license for almost 15 years.
About 5 years ago, GE started closing down its appliance factories in the US and all of it's been made by Haier since then. This was just formalizing the IP transfer.
Source: An actual GE manager forced to move from TN when the factory shut. He now works at GE Power in NY.
GE makes three things: Turbines, MRI machines and manufacturing software. Everything else was spun off or sold off over the last 15 years.
(but they won't sell the real estate- they're pretty much all superfund sites.)