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Federal suit, consumer boycotts fail to faze General Electric Co.

Fairfield County Business Journal

| June 29, 1992 | Mangan, Dan | COPYRIGHT 2006 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

It's been a mixed bag for General Electric Co. in recent months, as the Fairfield-based corporate giant deals with a government lawsuit and a church-led boycott, while at the same time expanding its real estate holdings and coming up with a "green" way to produce electricity.

GE is negotiating with the U.S. Justice Department over penalties the company will pay as a result of diverting $40 million in funds meant for Israel.

A former GE manager sued the company in 1990, charging GE with diverting the money, which was supposed to be used by the Israelis to buy military equipment. That suit was later taken over by the Justice Department.

The Cincinnati Post …

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Source: HighBeam Research, Federal suit, consumer boycotts fail to faze General Electric Co.

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