Did opposition by Hensarling to Ex-Im Bank prompt GE to rule out relocation to Dallas?

[TexasTowelie]

WASHINGTON — Rep. Jeb Hensarling’s fierce opposition to the Ex-Im Bank might have cost his home city a major relocation. That’s the message from GE to Dallas-area business leaders, according to a report published this afternoon by Bloomberg News, citing “people familiar with the matter.”

GE, based in Fairfield, Ct., would be Texas’s third-largest company should it relocate there. It is ranked 8th on the Fortune 500 list, ahead of Dallas-based AT&T, which is 12th.

GE’s overseas customers rely heavily on loans, insurance or loan guarantees offered by the venerable federal agency, which is a bank in name only. The Ex-Im Bank provides credit or credit insurance for foreign customers who buy American goods.

Hensarling has been the most pronounced critic of the bank in Congress, and has over the past two years led what was at first a small movement against the bank into a full-fledged revolt.

Read more: http://bizbeatblog.dallasnews.com/2015/08/did-opposition-by-hensarling-prompt-to-ex-im-bank-prompt-ge-to-drop-dallas-as-possible-new-home.html/

[Wellstone ruled]

1. If this proves to be the real deal.

That will be a major signal to the Republicans that they are out of touch and Corporations are going to put their money were their mouths are.

[PoliticAverse]

2. I guess we'll find out if corporate blackmail works in this case. n/t

[Dawson Leery]

3. Jim Himes is the congressman from GE's home district.

He strongly supports the EX IM bank. Immelt should consider that Himes has his back when makes such brash decisions as relocating over a 3 million dollar tax bill for a corporation that makes billions each year.