What NBC News will not tell you...

From a Letter from the Chairman of General Electric to Stockholders in the 2003 Annual Report:

Globalization

We can take every growth idea and multiply its effectiveness through globalization. Globalization is a GE core competency. We have made and sold products outside the U.S. for 100 years, and one-third of our leadership team is global. Our global revenues were almost $61 billion in 2003, up 14%, and should grow 15% in 2004. We succeed because we recognize one central fact: Global growth requires more than simply shipping products. You must be equally committed to developing capabilities and relationships in the markets where you want to succeed...

This approach is also working in other developing markets. Revenues in Eastern Europe, Russia and Iraq should grow from $1.2 billion in 2003 to $5 billion in 2005. We recently signed a $700 million agreement to modernize the rail system in Russia and have an additional $2 billion of power project opportunities. Our Consumer and Commercial Finance profits in Eastern Europe are growing 30% annually. And more than half of Iraq’s power grid is GE technology. GE has the capabilities that Iraq will need as it rebuilds. We received $450 million of orders in Iraq in 2003, and we could receive $3 billion over the next few years.

This never gets mentioned by Tom Brokaw, Katie Couric or Li'l Russ.

Thanks to Nordic at D.U.