GE Engine Was ‘Miscast’ as Earmark, Immelt Tells Employees
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General Electric Co. said it will seek to restore funding for its alternate Joint Strike Fighter engine, which was labeled a waste of money when the U.S. House of Representatives voted to kill the program.
Having a competitor to the primary engine made by United Technologies Corp.’s Pratt & Whitney unit would save $20 billion over time, Chief Executive Officer Jeffrey Immelt said today in a memo to employees, repeating an estimate from the Government Accountability Office.