Its called blowback from decades of Milton Freidman quack theories. GE may layoff here then outsource over to some labor market elsewhere but it won't help anything. US goes down, China and the rest of them will too even if they change their currency pegs. Those countries are not autonomous from the US no matter what the economics hacks want to us to believe. 5 cent/hr labor will buy nothing but food for their tables. The politicians have put Freidman theories into the financial markets and the end result is destroyed confidence and credit worthiness and ultimately bankruptcy. It doesn't work and will never work profitably except for a very short period of time.

Time for a huge bonus for all management, especially the CEO. "Your doing a great job Jeffie."

When it comes to profiteering GE knows Jack, Jack Welch that is.
Perhaps it's time to "Just Ask Jack".

Yes, the model that Welch created for GE and emulated by many firms appears to beginning to suck air. GEe, what a surprise.

Folks, when GE doesn't make their numbers, you'd better believe the economy is in trouble. Immelt will be tightening down the screws on the business CEOs, and they will do the same to their GMs and so on down the line. Budgets get cut and open jobs are not backfilled. New numbers must be met or heads will roll. More will be outsourced to India and China until there's nothing left. This is not a good sign of things to come.