Mercury Rising 鳯女

Politics, life, and other things that matter

NBC Nightly News Won’t Mention Parent GE’s $0 Tax Dodge

Posted by Phoenix Woman on March 31, 2011

File this under “Things That Do Not Surprise Me”:

In spite of robust profits of $14.2 billion worldwide, GE has calculated a corporate tax bill for 2010 that adds up to zero, via a creative series of tax referrals and revenue shifts.

[…]

The curious thing about this year’s tax story is that it turned up in many major news outlets, with one key exception: NBC News. As the Washington Post’s Paul Farhi notes, the network’s “Nightly News” broadcast, hosted by Brian Williams, has not mentioned anything about its corporate parent’s resourceful accounting, even though the story has been in wide circulation in the business and general-interest press for nearly a week.

Not surprising at all that GE/NBC would ignore this story. What is surprising is that other corporate news outlets are covering it; they usually try not to do overt digs at one another — a sort of “honor among thieves”, if you will.

2 Responses to “NBC Nightly News Won’t Mention Parent GE’s $0 Tax Dodge”

  1. jo6pac said

    Yep and read some were today that they have closed 20 or more plants in Amerika in the last few years. This a good choice by o for his committee for job creation;) It was at Ives Smith I think.

  2. Charles II said

    Comcast has purchased a majority stake in NBC. That doesn’t contradict Farhi’s point, but Comcast’s tax situation might also be of interest. As of their last report, they did pay almost 30% of earnings before taxes in taxes. I don’t know what it will be this fiscal year.

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