Money Talk: Don’t Trash Your Credit Score Over Stolen TV
Question: A few months ago, I purchased a large television from a nearby store. I was offered no interest for 12 months using the store’s credit card. The TV was stolen from the back of my pickup truck before I was able to bring it into my apartment. I called the police and filed a report. The next day I returned to the store and asked if anything could be done. They said they could only offer another television for a discounted...
As Rich Get Super-Rich, They Pay Lower Taxes
Washington — One of the cornerstones of American income tax policy is that taxes are progressive. People who make more money devote a higher share of their income to federal income taxes than people who make less money. That allows for a redistribution of wealth that lowers inequality. At least, that’s how it’s supposed to work. But data out this spring from the Internal Revenue Service gives us a closer look at how such taxes work at...
Immelt Set Up for Industrial Deals As GE Pivots From Finance Business
New York — Jeffrey Immelt, poised for the biggest restructuring push on his watch at General Electric, is plotting acquisitions to complement an industrial portfolio spanning jet engines to locomotives to oilfield equipment. With GE planning to sell the bulk of the GE Capital unit, Immelt said he will spend as much as $5 billion a year to expand the manufacturing units. GE’s chief executive officer is getting a start on building up...
GE to Restructure Lending Business
New York — General Electric is leaving the lending business, a major source of both profit and risk, as it continues to whittle its focus down to an industrial core. The company said Friday that it will sell most of its GE Capital assets over the next two years, shedding businesses in a sector where it has had a tough time generating acceptable returns. GE also plans to repurchase as much as $50 billion of its own stock. Shares of GE...
