Alabama Public Employees & General Electric

By Robert F. Abbott, author of Big Macs & Our Pensions: Who Gets McDonald's Profits? the book that explains the connection between the retirement income of the middle class and the profits of big business

Wednesday, April 16, 2014

Ever wonder who owns the mighty General Electric Company? Check out the official records and you'll find a significant piece of it belongs to middle class people such as Alabama's teachers and public employees.

Combined, the Alabama Teachers' and Alabama Employees' Retirement Systems owned 8,067,000 shares of the venerable GE, according to the most recent report of the Comprehensive Annual Financial Report, for the fiscal year which ended on September 30, 2013.

And according to nasdaq.com's calculations, 55% of General Electric is owned by institutional investors (pension funds, mutual funds, insurance companies, banks, hedge funds, and other large investment vehicles).

For more connections between working, middle class people and the world's biggest corporations, please visit our archives.