GO
Loading...

Enter multiple symbols separated by commas

GE Hoaxed by Billionaire for Bush Guy

GE
GE

As it turns out, General Electric is not returning a tax refund to the U.S. government.

Early on Wednesday, a report that appeared to come from the Associated Press claimed that GE would pay the Treasury $3.2 billion in taxes on April 18th.

GE , one of the corporate parents of CNBC, has now denied that it plans to pay taxes.

Earlier this year, GE announced that despite billions in corporate profits, it had no tax liabilty. It claimed that its U.S. operations lost $408 million while its foreign operations were responsible for $10.8 billion of profit.

The hoax was perpetrated by the prankster group called "Yes Men." The Yes Men often impersonate corporate executives in an attempt to embarrass companies and draw attention.

Andrew Boyd, who founded the satirical group Billionaires for Bush and says he is a member of the Yes Men, claimed that the group had sent out a fake press release announcing the taxpayment.

_________________________________________

Questions? Comments? Email us atNetNet@cnbc.com

Follow John on Twitter @ twitter.com/Carney

Follow NetNet on Twitter @ twitter.com/CNBCnetnet

Facebook us @ www.facebook.com/NetNetCNBC

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.