One of the more interesting stories today is the yarn about GE being accused of corrupt behaviour. If it's right, it could land one of America's biggest and most powerful companies in a lot of trouble.
The Houston Chronicle tells us how a Houston man, Khaled Asadi, is suing GE Energy alleging he was fired after raising concerns about the hiring of a woman close to an Iraqi government official to "curry favor" for the company's bid on a quarter-billion-dollar electricity contract. In his lawsuit, he claims he was pressured to step down from his position as the Iraq country executive for GE Energy, offered other assignments in the region and given a "negative and troubling" performance review before he was fired on June 24, 2011.
GE Energy has denied any wrongdoing and says his termination has nothing to do with his allegations and that its contracts in Iraq are all above board.
Still, it's interesting to note reports that GE and Siemens recently won contracts in Iraq to build power stations generating 7000 megawatts of electricity.
It's also worth remembering that in 2010, GE was forced to settle a case where it was alleged that GE companies made illegal kickback payments in the form of cash, computer equipment, medical supplies, and services to the Iraqi Health Ministry or the Iraqi Oil Ministry in order to obtain valuable contracts under the UN Oil for Food Program.
If nothing else, GE has form.
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