Recent News: GE Wind, Edison Exploratorium, Algeria Power, and GE Healthcare

Invenergy to buy 800 MW of GE wind power turbines
Invenergy LLC's Invenergy Wind LLC subsidiary agreed to buy an additional 800 megawatts of wind turbines from General Electric Co for projects slated for construction in 2009 in North America and Europe...

Edison Exploratorium announces plans to move to Erie Blvd.
A group calling itself the Edison Exploratorium announced its desire to buy a 12-acre site along Erie Boulevard where it plans to preserve the history of General Electric and promote the field of engineering...

UPDATE 1-Algeria awards $4.1 bln of power plant deals
ALGIERS, Nov 20 (Reuters) - Alstom, General Electric, and two other engineering companies won deals worth $4.1 billion on Tuesday to build power stations in Algeria, the north African country's state electricity company...

GE Healthcare and iCAD enter into Developmental Agreement
iCAD(R), Inc. , an industry-leading provider of Computer-Aided Detection (CAD) solutions and GE Healthcare, a division of GE , a manufacturer of Senographe(R) Full-Field Digital Mammography (FFDM) systems, today announced an agreement to develop a customized...

Recent News & Press Releases: Power, Nuclear, Aerospace, Dreamworks - NBC

GE Aviation wins a total of $10B in deals at 2007 Dubai Airshow
The combined $10 billion in orders shows the tremendous demand for our advanced engine technology and services,” said Scott Donnelly, president & CEO, GE Aviation. “Our knowledge of this market and relationships in the Middle East have been extremely valuable. This was our most successful... [Press Release]

General Electric Unit Gets $10B in Deals
Among the $7.7 billion in engine orders, GE's Aviation division secured a $1.4 billion order from Saudi Arabia Airlines to perform overhaul and support services on the carrier's GE90, CF6 and CGF34 engines. Qatar Airways also ordered $1.2 billion worth of engines, including...

State Media: GE To Build Power Stations In Turkmenistan -AFP
U.S. company General Electric (GE) has been asked to build two power stations in Turkmenistan, state media said Sunday, in the latest sign the reclusive Central Asian state is opening up to Western firms...

GE chief urges incentives to fuel nuclear switch: Financial Times
U.S. government hopes that hundreds of nuclear power plants will be built to boost national energy supplies will be dashed unless the power industry is given strong financial incentives to switch away from fossil fuels, said Jeffrey Immelt, chief executive of General Electric...

DreamWorks in discussions to join NBC: report
David Geffen and Steven Spielberg's DreamWorks movie studio is in discussions to join NBC Universal after a soured relationship with owner Viacom Inc. and its Paramount division, according to...

Recent News: Subprime, Insider Trading, Housing, KSK Power, 2007 Revenue, Aviation and Aerospace

GE says investors cashed out from fund
Institutional investors cashed out about $600 million from General Electric Co.'s GE (NYSE:GE) Asset Management fund amid worries about potential losses due to the troubled subprime mortgage markets, a spokesman said Thursday...

GE SVP Sells Shares
A senior vice president at General Electric Co. sold 26,026 shares of common stock, according to a Securities and Exchange Commission filing Wednesday...

Investors getting nervous about short-term funds
Main Street is getting a taste of Wall Street's credit problems and investors may soon move money out of short-term funds, long considered safe, but now suffering losses, analysts and advisors said...

Ospraie Buys International Paper, Sells GE in Third Quarter
Ospraie Management LLC, a $7 billion hedge-fund firm run by Dwight Anderson, bought stakes in International Paper Co. and Compton Petroleum Corp. in the third quarter and sold shares in General Electric Co...

KSK Power says enters partnership with GE
Indian power project developer and power plant operator KSK Power Ventur said on Thursday it had entered a strategic partnership with General Electric Co., which had made an equity investment

Southwestern Energy agrees to sell gas utility operations for $224M
Southwestern Energy (NYSE:SWN) Co. said late Wednesday it has agreed to sell its natural gas distribution business, Arkansas Western Gas Co., to SourceGas LLC, an affiliate of General Electric's (NYSE:GE) GE Energy Financial Services...

GE CEO says housing market tough
General Electric Co. CEO Jeff Immelt reiterated on Wednesday that the global economy was strong despite a tough housing market and scotched speculation that his company might sell

UPDATE: GE CEO Sees 2007 Revenue At $175 Billion, Profit At $23 Billion
General Electric Co. (GE) Chief Executive Jeffrey Immelt Wednesday said the company expects to have revenue of $175 billion this year, with a profit of $23 billion

General Electric seeks to participate in Turkey's nuclear power programme
General Electric (NYSE:GE) Co expressed an interest in participating in Turkey's nascent nuclear power programme following the Turkish parliament's recent adoption of a law that authorises the construction of the first nuclear power

Poland's Bank BPH to merge operations with GE Money by end 2008 - CEO
Poland's third biggest lender Bank BPH expects the legal side of its sale to GE (NYSE:GE) Money to be completed in the first quarter and said it should be fully integrated with the US-owned bank's operations by the of 2008...

UPDATE 1-GE aviation trust postpones Singapore IPO
aircraft leasing trust backed by a unit of General Electric said on Wednesday it has delayed its planned Singapore initial public offering due to market volatility...

DAE Capital buys 20 planes from GECAS for 1 bln usd, 8 Airbus planes for 500 mln
Dubai Aerospace Enterprise unit DAE Capital said it has signed a contract to buy 20 small airplanes from General Electric Co's (NYSE:GE) aircraft leasing company General Electric Commercial Aviation Services (GECAS) for 1 bln usd, at the Dubai air show...

GE/Snecma Joint Venture Gets $95 Million CFM56-7 Billion Engine Order
CFM International, a joint venture between General Electric Co. (GE) and Safran SA's Snecma unit, received an engine order from transavia.com valued at $ 95 million...

BASF buys remaining shares in JV engineering plastics with SABIC
BASF AG said it agreed with Saudi Basic Industries Corp (SABIC) to buy all shares in the two companies' engineering plastics joint venture BASF GE (NYSE:GE) Schwarzheide GmbH & Co KG to fully benefit from rising demand for its products...

AIRSHOW-Dubai Aerospace in $1.5 bln orders from GE, Emirates
DUBAI, Nov 13 (Reuters) - State-owned Dubai Aerospace Enterprise (DAE) said on Tuesday it had signed deals to buy and lease $1.5 billion worth of aircraft from General Electric...

GE Press Releases: Aerospace and Aviation, GE Money, GE Hitachi, GE Capital Solutions, GE Security, GE Healthcare, GE Fanuc

Qatar Airways Selects GEnx and GE90 Engines for its new Boeing 787 and 777 Aircraft
The GEnx order is valued at more than $800 million (USD) list price. The order for the GE90-115B-powered Boeing 777 Freighters follows orders for two Boeing 777 freighter, 14 Boeing 777-300ER and six Boeing 777-200LR aircraft, which are also powered by the GE90-115B engines. The combined list price of the GE90-115B engines ordered for all 27 Boeing 777 aircraft is more than $1.2 billion list price...

Emirates Selects GP7200 Engines for Additional Airbus A380 Aircraft
Emirates has selected the GP7200 engine to power its 12 additional Airbus A380 aircraft. The engine order is valued at $800 million (USD) list price...

GE Corporate Lending Provides $550 Million to Finlay Enterprises, Inc. For Acquisition of Bailey Banks & Biddle
Founded in 1887, Finlay is a leading retailer of fine jewelry operating stand-alone jewelry stores and jewelry departments in department stores throughout the United States. Founded in 1832, Bailey Banks & Biddle operates 70 stand-alone fine jewelry retail stores throughout the United States offering jewelry and watches under high-end brand names

ClimateMaster Endorses Eco-Friendly Loan Program Offered Through GE Money & Electric & Gas Industries Association
The GEOSmart Loan program, sponsored by EGIA and funded by GE Money’s Sales Finance unit, provides both installment and revolving financing options and is available through EGIA-approved contractors to assist consumers looking to purchase a ClimateMaster geothermal heating, cooling and water heating system for their home. “The level of long-term financing provided through the GEOSmart Loan program is something that has long been needed in the geothermal heat pump...

Exelon Nuclear Selects GE Hitachi’s ESBWR
Exelon Nuclear is studying locations in Matagorda and Victoria counties in Texas as potential reactor sites to help address that state’s rapidly growing demand for energy...

Emirates Signs Fleet Management Agreement with Engine Alliance for GP7200 Engines
“As the largest customer of the GP7200 engines, Emirates is an important customer for the Engine Alliance and we look forward to working together with them to fulfill their service needs,” said Bruce Hughes, president of the Engine Alliance...

Saudi Arabian Airlines and GE Sign Overhaul Support Agreement
Under the agreement, GE Aviation will support Saudi Arabian Airlines’ new state-of-the-art facility that will be built in King Abdul Aziz Airport in the Kingdom of Saudi Arabia. The facility will serve the Saudi Arabian and the region market. Additionally, Saudi Arabian Airlines and GE have signed a memorandum of understanding (MOU) for GE to supply material to the airline...

Emirates Order Additional GE90-Powered Boeing 777 Aircraft
Emirates has also signed a 12-year OnPointSM solution service agreement for the maintenance and overhaul of its the GE90-115B engines. The agreement is worth more than $380M over the life of the contract...

Dubai Aerospace Enterprise Orders GE Engines for New Fleet
Bob Genise, CEO of DAE Capital, the Dubai-based group’s aircraft, leasing and finance business, said, “This deal, as part of a 100 aircraft order from Boeing, demonstrates our aim to quickly establish DAE Capital as a world-class aircraft leasing business.”...

Royal Jordanian Signed OnPoint Solution Services Agreement with GE
Created in 1963 by a Royal Decree issued by His Majesty the late King Hussein, Royal Jordanian has grown to cover a network of 54 destinations on four continents. Royal Jordanian operates an extensive fleet, including CF6-powered Airbus A310 aircraft, CF34-10E-powered EMB195, CFM56*-powered A340 aircraft and CFM56*-powered A320 aircraft. This year, Royal Jordanian joined OneworldTM airline alliance...

HP Hotels Secures $17.5 Million in Refinancing and Construction Loans from GE Capital Solutions, Franchise Finance
To further expand its growing hospitality portfolio HP Hotels chairman, Chiman Patel, turned to GE Capital Solutions, Franchise Finance for a $17.5 million refinancing loan for a Hampton Inn in Birmingham, Ala, and new construction of a 115-room Hilton Garden in Oklahoma City, Okla. Patel has a long-term relationship with...

GE Announces Weldstar Girth Weld Pipeline Inspection System
GE Sensing & Inspection Technologies, a business unit of GE Enterprise Solutions (NYSE: GE), announces the release of Weldstar, a complete, automated ultrasonic girth weld inspection system for transmission pipelines. Weldstar provides considerable gains in productivity and probability of detection, without the hazards...

GE Money and Thomasville Furniture Industries Extend Consumer Finance Program
GE Money and Thomasville Furniture Industries today announced a multi-year renewal of its consumer financing agreement, originally formed in 2003. The Thomasville credit card program, issued through GE Money’s Sales Finance unit...

ALAFCO Aviation Lease and Finance Company Selects GEnx Engine for Boeing 787 Fleet
ALAFCO Aviation Lease and Finance Company (KSCC) has chosen the GEnx engine to power its additional Boeing 787 Dreamliners. ALAFCO has order a total of 22 Boeing 787 Dreamliners, all powered by GEnx engines...

Sama Signs an Agreement with GE for USD 51 Million
Sama, the new low-fare carrier in Saudi Arabia, has signed a 10-year, OnPointSM solution agreement with GE for the maintenance, repair and overhaul of its CFM56-3 fleet. The agreement is valued at more than $51 million (USD) over the life of the contract...

GE Security’s New ActiveKEY Delivers Wireless Productivity, Competitiveness and Safety Enhancements to Real Estate Agents
GE Security, Inc., a wholly owned indirect subsidiary of the General Electric Co. (NYSE: GE), today announced its new wireless lockbox key, ActiveKEY, has garnered significant early acceptance since its launch in August and is now being used by more than 33,000 real estate agents in more than 30 markets...

Will Your Hospital Be Prepared? New Report Examines Unfunded Liabilities and its Impact on Current and Future Capital Planning
To provide an understanding of the scope and effect of unfunded liabilities, such as defined benefit pensions and medical malpractice claims, HFMA and GE Healthcare Financial Services have released Managing Unfunded Liabilities: Will Your Hospital Be Prepared?, the third installment in the Financing the Future...

GE Healthcare Financial Services and Sechrist Sign Vendor Financing Agreement
This financing agreement will provide our growing number of hospital and healthcare clinic customers with a means to afford critical medical equipment,” said Jack Rollins, CEO of Sechrist Industries. “GE Healthcare Financial Services’ history in healthcare financing and its financial strength...

GE Business Unit Grows in India with Stake in Investment Arm of KSK, Leading Indian Power Project Developer
This transaction reinforces GE Energy Financial Services’ growth in India’s power market,” said Raghuveer Kurada, Managing Director of GE Energy Financial Services’ India operations. “KSK’s pioneering leadership in mid-sized captive power generation and access to dedicated low-cost fuel reserves creates opportunities for sizeable additional investment in new power projects...

GE Fanuc Intelligent Platforms Announces First NEBS-compliant PCI-X Packet Processors
Designed for applications such as session border control, secure access, network address translation (NAT), traffic management and firewall, the WANic 3850 and 3860 are the first packet processors...

Recent News: Aviation Engines, Pensions, Vietcombank

GE To Supply Engines For 17 Cathay Pacific Aircraft
GE Aviation will supply engines for 17 Boeing Co. (BA) aircraft ordered by Cathay Pacific Airways Ltd...

GE Increases Pension Payments To 130,000 Retirees
General Electric Co. (GE) said Thursday it plans to increase pension benefit payments to more than 130,000 of its retirees from...

GE, Nomura in Talks to Purchase Stake in Vietcombank
General Electric Co. and a group that includes Nomura Holdings Inc. are in talks to buy a stake in Bank for Foreign Trade of Vietnam, the country's ...

GE Press Releases: Fanuc, Roper Appliances, Pension Payments, Credit, Water

GE Fanuc Intelligent Platforms Announces High Performance Rugged 3U CompactPCI Solution
Demonstrating once again the company’s ability to deliver maximum functionality in the smallest space, GE Fanuc Intelligent Platforms today announced the rugged CM6 3U CompactPCI single board computer. Featuring a Freescale™ PowerPC™ MPC8641 operating ...

GE Metal Preparation Process Saves Money, Water, Reduces CO2 Emissions for Roper Corporation
GE Water & Process Technologies, a unit of General Electric Company (NYSE:GE) today presented Roper Corporation, a wholly owned subsidiary of General Electric that manufactures cooking appliances, with a 2007 ecomagination leadership award for...

GE Increases Pension Payments to 130,000 Retirees
GE will increase its pension benefit payments to more than 130,000 eligible retirees, effective December 1, 2007, GE Chairman and CEO Jeff Immelt announced today...

Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed
The project’s credit facilities were co-arranged by The Manufacturers Life Insurance Company (Manulife) (TSX, NYSE: MFC) and GE Capital Markets (Canada) Ltd. (a Canadian affiliate of GE Energy Financial Services) which together led a syndicate of lenders to provide...

GE ZeeWeed UF Membranes to Help Protect Water Quality of Major Reservoir in U.S. Southwest
GE Water & Process Technologies, a unit of General Electric Company (NYSE: GE) has been selected to supply its advanced ZeeWeed membranes for a 30-MGD (average daily flow) tertiary ultrafiltration upgrade of the 110-MGD Clark County Water Reclamation Facility (WRF) in Nevada. The facility, which treats...

SonicWALL Supports the Reseller Channel with Finance Programs through GE Capital Solutions’ Commercial Distribution Finance Unit
SonicWALL is committed to supporting our channel with finance programs through GE that allow them to control cash flow and streamline their business processes...

GE Provides $225 Million Credit Facility to United Agri Products, Inc., the Largest Independent Distributor of Agricultural and Non-Crop Inputs
UAP is the largest independent distributor of agricultural and non-crop inputs in the United States and Canada. The Company markets a comprehensive line of products including chemicals, seed, and fertilizer to growers and regional dealers. As part of the Company's product offering...

Recent News: Insider Buying, Wind, Jobs in Energy, GE Money, NBC, China and India

GE Director Lafley Buys Shares
A director of conglomerate General Electric Co. bought 12,327 shares of stock, according to...

GE Unit Invests in Texas Wind Farm
GE Energy Financial Services announced Thursday it is investing in a 120-megawatt wind farm...

GE Adds NY Jobs As Energy Products Grow
Changing course after years of eliminating jobs in New York, General Electric Co. announced Wednesday that it is adding 500 new positions and investing more than $39 million in Schenectady...

GE Money Bank may be selling stake in Prague stock exchange - report
Money Bank, a unit of General Electric, may be selling its 6.5 pct stake in the Prague stock exchange, daily Hospodarske Noviny reported, citing unnamed market sources...

NBC Universal's Zucker dismisses sale rumors
NBC Universal Chief Executive Jeff Zucker on Monday dismissed repeated rumors that the media company would be sold by parent General Electric...

Supreme Court Turns Down GE Appeal
The Supreme Court on Monday rejected an appeal by General Electric Co. in a $3 million tax dispute with the state of New Hampshire...

China, India to shield GE from U.S. slowdown-Immelt
The head of General Electric Co the world's biggest industrial conglomerate, says a slowdown in the U.S. economy is unlikely to hit GE...

NBC-Fox Online Video Joint Venture Hulu Attracts Critics
As NBC Universal and News Corp. prep their Web site Hulu.com for its first major close-up with a test launch next week, the picture isn't pretty...

GE Press Releases: GE Money, 08 Shareholders Meeting, Antares, Wind, Fanuc, NBC, Sondex

GE Energy Completes Acquisition of Sondex, a Global Oilfield Technology Company
Sondex is headquartered in Hampshire in the United Kingdom and specializes in the engineering and manufacture of directional drilling and formation evaluation systems and wireline tools for the production of oil and gas...

GE Antares Provides $43.5 Million Credit Facility for A Leading Corporate Imaging and Custom Signage Provider
The financing consisted of a $17.5 million senior revolving credit facility and a $26 million senior term loan facility. Proceeds were used to fund the acquisition of Icon, and to provide for general working capital needs...

GE Money and Admiral Sunrooms Offer Consumer Finance Program
The programs provide customers installment and revolving lines of credit, flexible terms, an easy application process and fast funding decisions. Contractors and dealers offering this finance program also receive comprehensive customer service training, partner training and marketing materials...

Atlanta Public Schools Awarded Record-breaking $22 Million Grant from GE
Foundation
The GE Foundation today awarded a $22 million College Bound District grant to Atlanta Public Schools, marking the largest private grant in the district’s history. At Southside Comprehensive High School, more than 1,300 students, teachers, parents, administrators, community leaders and GE executives celebrated the award, designed to improve...

GE/NBC Universal’s Peacock Equity Invests in Mobile SMS Advertising Leader
4INFO
Peacock Equity, a joint venture between GE Commercial Finance’s Media, Communications & Entertainment business and NBC Universal, today announced an investment in mobile media company 4INFO, the leader in SMS/text message content and advertising. 4INFO is the sixth Peacock Equity investment since...

GE opens new mobile repair facilities to increase railcar availability and improve customers’ productivity
GE Equipment Services, Rail Services today announced the availability of several mobile repair facilities as part of its Repair Solutions suite of railcar repair services. The facilities, currently operational in La Porte, TX and opening soon in Mounds, IL, and Waycross, GA, leverage GE’s technical and regulatory knowledge of the rail industry...

GE Fanuc Intelligent Platforms Announces High Port Density Fiber Gigabit Ethernet AdvancedMCs
Continuing to expand the breadth and depth of the company’s leading AdvancedTCA™ and MicroTCA™ solutions, GE Fanuc Intelligent Platforms today announced the Telum™ GE-QLX/QSX Gigabit Ethernet AdvancedMC. Designed for any telecommunications...

GE Ranks #1 in Proactively Addressing World’s High-Tech Challenges
NISKAYUNA, N.Y.--(BUSINESS WIRE)--GE (NYSE: GE), today announced that it has been recognized as the world’s top research and development (R&D) company for proactively addressing the world’s biggest “high-tech challenges” by R&D Magazine...

SAT-GE Aids the Growth of PT Telkom in Eastern Indonesia Services Roll-Out
Using multiple transponders on the GE-23 satellite, PT Telkom are able to rapidly extend their GSM/CDMA network and other services over Eastern Indonesia, providing connectivity deep into Papua, Maluku and...

GE Unit Invests in New Texas Wind Project with Invenergy
GE Energy Financial Services, a unit of General Electric Company (NYSE: GE), is investing in a 120-megawatt wind farm in Texas with Invenergy Wind LLC, a leading global wind power developer...

GE Antares Provides $48 Million Credit Facility for A Leading Global Manufacturer of Weathering Test Equipment & Services
The financing consisted of a $24.0 million US credit facility and a €16.7 million European credit facility. Proceeds were used to fund the acquisition of Atlas, provide for general working capital needs, and to fund future growth...

Klee Named GE Vice President for Environmental Programs
Ann R. Klee has been named as Vice President of Corporate Environmental Programs for the General Electric Company, GE Senior Vice President and General Counsel Brackett Denniston announced today...

GE Money and Hobie Set Sail with New Consumer Finance Program
GE Money and Hobie Cat, a leading supplier of marine products for fishing, sailing and kayaking, today announced a new multi-year program that provides flexible financing for purchases at participating Hobie dealers nationwide...

GE Fanuc Intelligent Platforms and PrismTech Demonstrate Compact COTS Software Defined Radio
At the Software Defined Radio Forum Technical Conference and Product Exposition (Denver, CO, November 5 – 9) today, GE Fanuc Intelligent Platforms and PrismTech will together present a compact Software Defined Radio...

GE To Hold 2008 Shareowners Meeting in Erie, Pennsylvania
GE (NYSE: GE) announced today that it plans to hold its 2008 Annual Meeting of Shareowners on April 23, 2008 in Erie, Pennsylvania. The meeting is expected to be held at the Bayfront Convention Center...

GE Receives U.S. State Department Award for Corporate Citizenship
At a ceremony in Washington, DC, GE today received the Award for Corporate Excellence (ACE) from U.S. Secretary of State Condoleezza Rice. GE was recognized for its extensive corporate social responsibility programs in Indonesia...

Computer Dynamics Announces SealTouch-15 Environmentally Sealed Computer
Further extending the broad range of solutions offered by the company for computing in harsh industrial environments, Computer Dynamics, a GE Fanuc Intelligent Platforms company, today announced the SealTouch-15 rugged flat panel computer...

GE Money and Lane Home Furnishings Extend Consumer Finance Program
GE Money and Lane® Home Furnishings today announced a multi-year renewal of its consumer financing agreement, originally formed in 2003. The Lane credit card program...