16, 1998). The board meeting ends up being an expense paid business trip to the beautiful Virgin Islands. U.S. corporations justify the need for foreign sales corporations saying they need them to be more competitive with foreign competitors. Many of the top American exporters benefit from this program; some of them include Intel, General Electric, Eastman Kodak, General Motors, Caterpillar, Chrysler, Boeing, and Motorola (Bartlett & Steele, Nov. 16 1998). Tax breaks are commonly given to companies by different states to keep the company from closing down and laying off workers. These billion dollar companies threaten closing a factory and the state comes up with some deals to make them stay. Federal Express, which has its main headquarters in Memphis, Tennessee, will receive 115 million dollars in state tax breaks. Federal Express is a company with revenues of 11.5 billion dollars, but yet, gets help from the government (Barlett & Steele, Nov. 9, 1998). .
General Electric is one of the top money managing companies in the U.S. Last year their revenue was 91 billion dollars and the earnings were reported to be over 8 billion dollars. In Kentucky, General Electric threatened to close a washing-machine factory because it was "archaic" and needed too many repairs to fix up the site. The state in fear of losing jobs granted General Electric 19 million dollars worth of income tax breaks over the next ten-year period. General Electric has since announced that over the next two years, there would be 1500 jobs eliminated (Barlett & Steele, Nov. 9, 1998). General Electric has used every available government program to boost its profits. General Electric gets export subsides, tax credits, loan guarantees, government research contracts and federally provided insurance for it's overseas projects. The brilliant management of General Electric has paid off with large growing profits with the help of the government's money.