GE investing $1B in East Bay software hub (San Francisco, Oakland: lease, home)

[18Montclair]

This is very interesting.

GE investing $1B in Bay Area software hub

SAN RAMON, Calif. (AP) — General Electric Co., a maker of power plants, jet engines and medical imaging equipment, said Thursday that it is investing $1 billion in a new software headquarters in the San Francisco Bay Area with plans to hire 400 software-related staffers to develop what it calls the "Industrial Internet."

The headquarters will be in San Ramon, about a half-hour drive east of Oakland, in leased space at the Bishop Ranch office complex.

The Fairfield, Conn.-based industrial giant is hoping to attract technology experts who live in the East Bay region of greater San Francisco, but prefer not to make the long commute to Silicon Valley, which is home to leading technology companies such as Google Inc., Apple Inc. and Intel Corp...

GE has hired 50 workers already and plans to add another 350 over the next 18 months, Ruh said.

The Associated Press: GE investing $1B in Bay Area software hub

[mayorhaggar]

I hope all the workers who sign up there enjoy getting fired in a few years when GE stockholders whine about their dividends not being big enough. Corporate employers are like that.

[yeahthatguy]

The power of capital in the hands of the few... To be able to see opportunity, take risks, and invest in it ..

[SunDevil1212]

Originally Posted by mayorhaggar

I hope all the workers who sign up there enjoy getting fired in a few years when GE stockholders whine about their dividends not being big enough. Corporate employers are like that.

They also offer health care, 401k, tuition reimbursement benefits, paid holidays and sick days, and plenty of opportunities to move up the corporate ladder or laterally within the organization to expand your skill set. Large Corporations get a bad rap mostly from people who've never worked in one.

I used to work for a Fortune 25 Corporation, and trust me, it was the best thing that ever happened to my career. I got an MBA 100% paid for, 401k matched at 75%, employee stock and incentive bonuses, 1.5X overtime pay, and was able to switch job roles every couple years for a wide variety of experiences. Not to mention, just having that company name on my resume will give me credibility with other potential employers for the rest of my life.

There's always the risk of layoffs, sure, and they can squeeze you when times are tough, but those conditions exist in every type of job. Not just corporate gigs.

[mayorhaggar]

Everyone I've known who's worked for GE was laid off within 4 years in mass rounds of layoffs, they do them every few years to sate their stockholders and to pay for CEO bonuses, just like a lot of big companies.

That said, I really wonder what will happen in the long term when these big non-CA companies like Wal-Mart or GE set up some sort of "innovation factory" in the Bay Area to try and come late to the party and leech off the success of Silicon Valley.

[katskill]

I know the way GE hires...200H-1s, 100 other kinds of temporary (shady) visas, 50 locals...Ive seen it on the east coast

[ambient]

Yes, they are an evil corporation, so they should stay out and take their jobs with them. We don't want corporations and their jobs around here. And we don't need new jobs unless they come with a permanent lifetime guarantee.

[mayorhaggar]

Originally Posted by katskill

I know the way GE hires...200H-1s, 100 other kinds of temporary (shady) visas, 50 locals...Ive seen it on the east coast

It's probably why they're setting up shop in San Ramon--lots of Indian immigrants there, and Indians always prefer living where other Indians live. Should be an H-1-apalooza.

[Think About It!]

Well if were knocking G.E. we might as well bring up they paid $0 in taxes last year on their huge profits.

[katskill]

"Yes, they are an evil corporation, so they should stay out and take their jobs with them. We don't want corporations and their jobs around here. And we don't need new jobs unless they come with a permanent lifetime guarantee."
well...political views aside, Im just pointing out that GE employing 400 dosent necessarily mean 400 more jobs for the local economy.
Of all the corps you can pick to make your sarcastic case, GE? As someone pointed out, they paid $0 taxes...worse they got our taxpayer bailout for their financial arm.
Top that, theyve actually colluded in transfering proprietary tech developed in collaboration with a govt research center (I dont remember details) to China...
and there's more...