Money Making

Anne LeGrand, vice president and general manager of GE Healthcare Global X-Ray, said Monday they will have completed the move by early fall. It is the first GE business to relocate to China.

LeGrand says “there is certainly the opportunity” to move other GE Healthcare units to China, but that is “something that we will continue to evaluate.” The move involves LeGrand and her top executives. She says they will add other people to the team as they expand in China.

The City of Los Angeles’ telephone tax used to be based on the Federal telephone excise tax. The federal tax, collection of which began to fund the Spanish-American War (Remember the Maine?), ended when almost every circuit Court of Appeal ruled the tax unconstitutional.

So a gentleman named Estuardo Ardon sued the City of Los Angeles claiming that its phone tax was just as unconstitutional; he asked that it be made a class action suit. The city objected, claiming that each resident must sue separately per the California constitution. T

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Exports rose $813m (3%) to $26,258m. Non-monetary gold rose $536m (49%), rural goods rose $172m (6%) and non-rural goods rose $103m (1%). Net exports of goods under merchanting remained steady at $35m. Services credits rose $1m.

Imports rose $97m to $23,926m. Consumption goods rose $204m (4%) and intermediate and other merchandise goods rose $159m (2%). Capital goods fell $347m (8%) and non-monetary gold fell $23m (6%). Services debits rose $104m (2%).

Congress must reach a deal now to raise the federal debt ceiling through 2012 because “you don’t want politics messing around with America’s faith and credit,” Treasury Secretary Tim Geithner told CNN on Sunday.

“The most important thing is that we remove this threat of default from the country for the next 18 months,” Geithner said in an interview with CNN’s “State of the Union” program. Read more info…

India is also set to become the world’s second largest producer of Steel by 2013 when annual production capacity will rise to 120 mn tonnes from the present 80 mn tonnes, according to Beni Prasad Varma, India Minister for Steel.

Addressing the 5th India steel Summit here on Tuesday he said that currently, India has the fourth largest steel sector in the world, both in terms of capacity and production. He said, further the capacity is expected to be over 150 million tonnes by 2020.

P K Mishra, Steel Secretary said that by the end of the current financial year, the steel manufacturing capacity of the country might reach around 90 MT.

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