Spain's Renovables buys GE wind turbines
Spanish renewable energy company Iberdrola Renovables said on Friday it had ordered 200 1.5 megawatt wind turbines from General Electric Co., worth around 430 million euros ($659 million)....
GE possibly wellspring of state's innovation
Southeastern Wisconsin has a much better shot at pulling talent out of the wealth of resources at GE Healthcare than technology, a panel of current and former GE executives said Thursday at a meeting of the Wisconsin Innovation Network in Brookfield....
GE opens 8-acre trailer re-sale center in Fontana
Freight movement from Pacific ports to inland distribution centers requires thousands of “mobile warehouse” over-the-road trailers, and a new GE re-sale center opening in Fontana helps truckers obtain pre-owned trailers at reasonable prices...
Town Learns G.E. Will Continue With Plans for Towantic Energy
G.E. Energy Financial Services of Stamford last week notified the town that it intends to go forward with the Towantic Energy project on Woodruff Hill Road, First Selectman Mary Ann Drayton-Rogers confirmed....
GE Money finds few takers for its loan portfolio
GE Money India is learnt to have found no takers for its wholly-owned personal loans and mortgages portfolios, with the interested parties quoting nearly half of the company’s expectation. The bidders say this could eventually lead to the proposed divestment plan being scrapped...
GE close to $263 mln Bosnia rail deal
Bosnia, May 9 (Reuters) - Bosnia's Serb Republic government said on Friday it is close to clinching a 170 million euro ($263 mln) deal with U.S. conglomerate General Electric to help it rebuild its devastated rail network....
GE Aviation expects its CF34 engine fleet to double in 10 years
With more than 4,000 CF34 engines powering regional aircraft, GE Aviation expects the engine fleet to exceed 8,600 by 2018 - based on the strong demand being forecast for GE-powered regional aircraft...
Tuesday, May 13, 2008
Recent News: GE Wind Energy in Spain, GE Healthcare, GE Transportation, GE Energy Financial Services, GE Money, Rail, and GE Aviation.
Recent News: GE Healthcare, GE Energy, NBC, Lawsuit, Layoffs, GE Aviation, and Stock Performance
GE Healthcare Signs Global Molecular Diagnostic Agreement To Advance Respiratory Drug Development
GE Healthcare, a subsidiary of the General Electric Company (NYSE:GE) announced that it has signed a non-exclusive agreement with Merck & Co., Inc. to share technology on imaging of the lungs that may help to advance respiratory treatment development. Under terms of the agreement, Merck will be granted access to Spin Signal TechnologyTM (SST) utilizing hyperpolarized Xenon 129 gas, a molecular imaging agent that is under investigation by GE Healthcare to provide high speed, quantitative imaging of the lung using Magnetic Resonance Imaging (MRI). GE Healthcare originally licensed this technology from Princeton University....
GE Installs Its Newest Steam Turbine Technology for North Dakota Power Plant
GE Energy has applied its latest steam turbine technology to enhance the reliability and overall performance of North Dakota’s largest power plant, Great River Energy’s Coal Creek Station, located 50 miles north of Bismarck...
NBC to Enter All-Local-News Arena In New York
General Electric Co.'s NBC Universal is starting a 24-hour local news network in New York, in what could be the first of several such channels around the country. NBC hopes the network will draw in new viewers and help the company weather a weak local TV advertising market that has depressed revenue at many of its individual stations....
GE Consumer & Industrial to cut 450 salaried positions
GE Consumer & Industrial, the Louisville-based division of General Electric Co., informed employees Tuesday that the company is eliminating about 450 salaried positions, less than1 percent of the unit's nationwide workforce...
Lawsuit against GE will continue
Warren County Judge John Hall has denied General Electric Co.'s request to dismiss a lawsuit filed by 45 Fort Edward property owners whose homes and businesses were contaminated with an underground plume of an industrial chemical used by the company. Residents in the area blame the company for dumping trichloroethylene, or TCE, an industrial solvent GE used at its Broadway manufacturing plant....
GE sees new technology for next-generation CF34 viable in 2015
General Electric believes a new centreline successor to the next-generation CF34 engine for regional jets could be ready in the 2015 timeframe by leveraging technology from CFM International's Leap 56 programme and the GEnx....
GE stock may not be electric, but it should be OK
Q: I've owned General Electric stock for nearly 10 years and have been disappointed with its performance. What is wrong with it?
A: It's easy for investors to beat up on General Electric...
GE Healthcare, a subsidiary of the General Electric Company (NYSE:GE) announced that it has signed a non-exclusive agreement with Merck & Co., Inc. to share technology on imaging of the lungs that may help to advance respiratory treatment development. Under terms of the agreement, Merck will be granted access to Spin Signal TechnologyTM (SST) utilizing hyperpolarized Xenon 129 gas, a molecular imaging agent that is under investigation by GE Healthcare to provide high speed, quantitative imaging of the lung using Magnetic Resonance Imaging (MRI). GE Healthcare originally licensed this technology from Princeton University....
GE Installs Its Newest Steam Turbine Technology for North Dakota Power Plant
GE Energy has applied its latest steam turbine technology to enhance the reliability and overall performance of North Dakota’s largest power plant, Great River Energy’s Coal Creek Station, located 50 miles north of Bismarck...
NBC to Enter All-Local-News Arena In New York
General Electric Co.'s NBC Universal is starting a 24-hour local news network in New York, in what could be the first of several such channels around the country. NBC hopes the network will draw in new viewers and help the company weather a weak local TV advertising market that has depressed revenue at many of its individual stations....
GE Consumer & Industrial to cut 450 salaried positions
GE Consumer & Industrial, the Louisville-based division of General Electric Co., informed employees Tuesday that the company is eliminating about 450 salaried positions, less than1 percent of the unit's nationwide workforce...
Lawsuit against GE will continue
Warren County Judge John Hall has denied General Electric Co.'s request to dismiss a lawsuit filed by 45 Fort Edward property owners whose homes and businesses were contaminated with an underground plume of an industrial chemical used by the company. Residents in the area blame the company for dumping trichloroethylene, or TCE, an industrial solvent GE used at its Broadway manufacturing plant....
GE sees new technology for next-generation CF34 viable in 2015
General Electric believes a new centreline successor to the next-generation CF34 engine for regional jets could be ready in the 2015 timeframe by leveraging technology from CFM International's Leap 56 programme and the GEnx....
GE stock may not be electric, but it should be OK
Q: I've owned General Electric stock for nearly 10 years and have been disappointed with its performance. What is wrong with it?
A: It's easy for investors to beat up on General Electric...
Monday, May 12, 2008
Recent News: GE Rail Services Unit, NBC Super Bowl Ads, Consumer Loans, GE Healthcare & Merck, GE Aviation, GE Japan, and Boeing 737-900
GE seeking buyer for its rail services unit: report
General Electric is seeking a buyer for its rail services unit, in a deal that could be worth about $4 billion, according to people familiar with the company, The Financial Times reported on its Web site Friday. The move to sell the unit is part of GE's attempts to reduce its exposure to low-margin businesses after reporting disappointing first-quarter results last month, according to the newspaper. The unit leases 165,000 railroad cars and 120,000 trailers and containers. GE declined to comment on Friday night, the FT said...
NBC Super Bowl Ads to Cost $3 Million
The Super Bowl has always been a tough ticket, but now NBC is telling advertisers it will cost them $3 million just to get into the game -- for 30 seconds. NBC Universal, a unit of General Electric Co., plans to announce next week that $3 million will be the entry price for a commercial at the 2009 Super Bowl. While individual slots have sold at that level before, it's never been the starting point for negotiations for the dozens of 30-second ads sold for the game. It represents a price increase of more than 10%, roughly double the usual annual rise...
GE to drop consumer loans for boats, motorhomes
General Electric Co said on Monday it would stop offering loans for the purchase of consumer boats and motorhomes, in another blow to the hard-hit recreational products sector.
The second-largest U.S. company by market capitalization told boat and recreational-vehicle dealers that it would cease taking applications by July and cease underwriting new loans on Aug. 1, said Cristy Williams, a spokeswoman for GE Money, the company's consumer finance arm. It will continue to service its $3.6 billion loan portfolio...
GE Healthcare and Merck enter into technology sharing agreement
GE Healthcare, a provider of transformational medical technologies and services and a subsidiary of the General Electric Company (NYSE:GE), announced on Monday (5 May) that the company has entered into a non-exclusive agreement with Merck & Co Inc, a pharmaceutical company, to share technology on imaging of the lungs....
GE officials hope to work with Raspet
Officials with GE Aviation hope to continue the relationship they've developed with Mississippi State University's Raspet Flight Research Lab, an official said Monday...
Acom in Lead to Buy GE Japan Consumer Lender
General Electric will likely pick rival lender Acom as preferred bidder for its Japanese consumer loan business, paving the way for a $2.9 billion deal to create the country's biggest industry player, the Yomiuri paper said, sending Acom's shares to eight-month highs...
Boeing Delivers 737-900ERs To GE Unit For Lease To Futura
Boeing Co. (BA) said it delivered Europe's first two next-generation 737-900ER aircraft to General Electric Co. (GE) unit GE Commercial Aviation Services for lease to Futura International Airways of Spain....
General Electric is seeking a buyer for its rail services unit, in a deal that could be worth about $4 billion, according to people familiar with the company, The Financial Times reported on its Web site Friday. The move to sell the unit is part of GE's attempts to reduce its exposure to low-margin businesses after reporting disappointing first-quarter results last month, according to the newspaper. The unit leases 165,000 railroad cars and 120,000 trailers and containers. GE declined to comment on Friday night, the FT said...
NBC Super Bowl Ads to Cost $3 Million
The Super Bowl has always been a tough ticket, but now NBC is telling advertisers it will cost them $3 million just to get into the game -- for 30 seconds. NBC Universal, a unit of General Electric Co., plans to announce next week that $3 million will be the entry price for a commercial at the 2009 Super Bowl. While individual slots have sold at that level before, it's never been the starting point for negotiations for the dozens of 30-second ads sold for the game. It represents a price increase of more than 10%, roughly double the usual annual rise...
GE to drop consumer loans for boats, motorhomes
General Electric Co said on Monday it would stop offering loans for the purchase of consumer boats and motorhomes, in another blow to the hard-hit recreational products sector.
The second-largest U.S. company by market capitalization told boat and recreational-vehicle dealers that it would cease taking applications by July and cease underwriting new loans on Aug. 1, said Cristy Williams, a spokeswoman for GE Money, the company's consumer finance arm. It will continue to service its $3.6 billion loan portfolio...
GE Healthcare and Merck enter into technology sharing agreement
GE Healthcare, a provider of transformational medical technologies and services and a subsidiary of the General Electric Company (NYSE:GE), announced on Monday (5 May) that the company has entered into a non-exclusive agreement with Merck & Co Inc, a pharmaceutical company, to share technology on imaging of the lungs....
GE officials hope to work with Raspet
Officials with GE Aviation hope to continue the relationship they've developed with Mississippi State University's Raspet Flight Research Lab, an official said Monday...
Acom in Lead to Buy GE Japan Consumer Lender
General Electric will likely pick rival lender Acom as preferred bidder for its Japanese consumer loan business, paving the way for a $2.9 billion deal to create the country's biggest industry player, the Yomiuri paper said, sending Acom's shares to eight-month highs...
Boeing Delivers 737-900ERs To GE Unit For Lease To Futura
Boeing Co. (BA) said it delivered Europe's first two next-generation 737-900ER aircraft to General Electric Co. (GE) unit GE Commercial Aviation Services for lease to Futura International Airways of Spain....
Recent News: GE Healthcare, Q&A w/ John Wyllie, GE Aviation Navy Contract, and GE Real Estate in Germany
GE restarts X-ray machine factory with U.S. OK
General Electric Co. has resumed production of X-ray machines at a Salt Lake City, Utah, facility shut since late 2006 because of quality-control issues raised by U.S. regulators. GE Healthcare on Thursday received approval from the Food and Drug Administration to restart the plant, and full production has resumed, GE officials said on Friday....
Q&A: GE Money’s John Wyllie on Web Analytics
John Wyllie is the global web analytics manager at GE Money – a role in which he advises and directs the analytics activities of the company’s numerous international businesses.
We asked him a few questions about how analytics can best be managed within organisations, and how the financial services industry stacks up against other sectors...
GE Aviation awarded $321.7M Navy contract for engines
General Electric Aviation, a unit of General Electric Co., received a $321.7 million contract boost to supply 84 F414-GE-400 engines and device kits and related equipment for the Navy's F/A-18 Hornet fighter jets and its EA-18G Growler attack aircraft, the Defense Department said late Friday...
GE's Surgery Unit Is Set To Restart After Miscues
General Electric Co.'s GE Surgery unit will be back in action within days, marking the end of a 20-month shutdown that stemmed from the Food and Drug Administration's finding that device malfunctions weren't being reported. GE Surgery operates a factory in Salt Lake City that makes C-shaped X-ray devices that allow doctors to see what is happening inside a patient during surgery. The one factory accounted for about 90% of the unit's business, which has annual sales of about $600 million....
GE Real Estate seeks buys in German market: report
GE Real Estate, the property investment arm of General Electric Co has earmarked around 1.5 billion euros to invest in the German property loan market, a German daily reported on Saturday....
General Electric Co. has resumed production of X-ray machines at a Salt Lake City, Utah, facility shut since late 2006 because of quality-control issues raised by U.S. regulators. GE Healthcare on Thursday received approval from the Food and Drug Administration to restart the plant, and full production has resumed, GE officials said on Friday....
Q&A: GE Money’s John Wyllie on Web Analytics
John Wyllie is the global web analytics manager at GE Money – a role in which he advises and directs the analytics activities of the company’s numerous international businesses.
We asked him a few questions about how analytics can best be managed within organisations, and how the financial services industry stacks up against other sectors...
GE Aviation awarded $321.7M Navy contract for engines
General Electric Aviation, a unit of General Electric Co., received a $321.7 million contract boost to supply 84 F414-GE-400 engines and device kits and related equipment for the Navy's F/A-18 Hornet fighter jets and its EA-18G Growler attack aircraft, the Defense Department said late Friday...
GE's Surgery Unit Is Set To Restart After Miscues
General Electric Co.'s GE Surgery unit will be back in action within days, marking the end of a 20-month shutdown that stemmed from the Food and Drug Administration's finding that device malfunctions weren't being reported. GE Surgery operates a factory in Salt Lake City that makes C-shaped X-ray devices that allow doctors to see what is happening inside a patient during surgery. The one factory accounted for about 90% of the unit's business, which has annual sales of about $600 million....
GE Real Estate seeks buys in German market: report
GE Real Estate, the property investment arm of General Electric Co has earmarked around 1.5 billion euros to invest in the German property loan market, a German daily reported on Saturday....
Recent News: Ohio Lamp Plant, Citi Rating, GE Aviation, GE Healthcare & Whatman, GE Hitachi, New Chief Accounting Officer, and Sofradir
General Electric to eliminate 31 positions at Ohio Lamp Plant
General Electric continues to slash jobs in the Mahoning Valley as it eliminates 31 positions at its Ohio Lamp Plant. The Warren plant makes a variety of incandescent bulbs, which are becoming less popular....
Citi Maintains 'Hold' Rating on General Electric (GE), Lowers Price Target
Citi maintains a 'Hold' rating on General Electric, lowers price target from $36 to $35.Citi analyst says, "GE's Sum-of-the-Parts premium has contracted, but it still trades above par using P/E's of some of the highest valued financial peers. Finance book value approaches point to more downside valuation risk...GE has increasingly relied on gains to drive EPS growth or offset headwinds that have materialized from time to time....
Singapore Airlines plane reports engine trouble, lands safely in India
A Singapore Airlines flight to Paris was diverted to India because one of its two engines appeared to be in trouble, Singapore's national carrier said Monday. A failure warning prompted the pilot to shut down the left engine of the Boeing 767-300ER and redirect the flight to New Delhi's Indira Gandhi International Airport on Friday, Singapore Airlines said in a statement e-mailed to The Associated Press...
GE Healthcare Completes Acquisition of Whatman PLC
Chalfont St. Giles, UK. - GE Healthcare, a unit of General Electric Company (NYSE:GE) has completed the acquisition of Whatman PLC, a global supplier of filtration products and technologies...
GE Hitachi Nuclear to build uranium enrichment facility
Global Laser Enrichment (GLE), a unit of GE Hitachi Nuclear Energy (GEH), said it has selected GEH's Wilmington headquarters site for a potential commercial uranium enrichment facility.
Before moving ahead, GLE will first look at the results of a demonstration test loop, which is currently under construction, and obtain an NRC license to build and operate the commercial plant. Pending approvals, the facility is expected to come online in 2012...
GE says gets $350 mln Dubai order for jet engines
General Electric Co said on Wednesday that LCAL, a Dubai-based aircraft leasing company, has agreed to buy GEnx jet engines to power up to 13 of its aircraft. The engines, with a list price of more than $350 million collectively, would power Boeing Co made 787 aircraft, GE Aviation said....
GE names Miller as chief accounting officer
General Electric Co on Wednesday named Jamie Miller as chief accounting officer, succeeding Walter Ielusic, who had held the post on an acting basis....
GE Buys Stake in French Infrared Unit
General Electric, the U.S. industrial conglomerate, has bought for an undisclosed amount a 15 percent stake in Ulis, a subsidiary of Sofradir, a French maker of infrared detectors.
Ulis makes uncooled IR detectors mainly for commercial uses, said Sofradir in an April 30 statement....
General Electric continues to slash jobs in the Mahoning Valley as it eliminates 31 positions at its Ohio Lamp Plant. The Warren plant makes a variety of incandescent bulbs, which are becoming less popular....
Citi Maintains 'Hold' Rating on General Electric (GE), Lowers Price Target
Citi maintains a 'Hold' rating on General Electric, lowers price target from $36 to $35.Citi analyst says, "GE's Sum-of-the-Parts premium has contracted, but it still trades above par using P/E's of some of the highest valued financial peers. Finance book value approaches point to more downside valuation risk...GE has increasingly relied on gains to drive EPS growth or offset headwinds that have materialized from time to time....
Singapore Airlines plane reports engine trouble, lands safely in India
A Singapore Airlines flight to Paris was diverted to India because one of its two engines appeared to be in trouble, Singapore's national carrier said Monday. A failure warning prompted the pilot to shut down the left engine of the Boeing 767-300ER and redirect the flight to New Delhi's Indira Gandhi International Airport on Friday, Singapore Airlines said in a statement e-mailed to The Associated Press...
GE Healthcare Completes Acquisition of Whatman PLC
Chalfont St. Giles, UK. - GE Healthcare, a unit of General Electric Company (NYSE:GE) has completed the acquisition of Whatman PLC, a global supplier of filtration products and technologies...
GE Hitachi Nuclear to build uranium enrichment facility
Global Laser Enrichment (GLE), a unit of GE Hitachi Nuclear Energy (GEH), said it has selected GEH's Wilmington headquarters site for a potential commercial uranium enrichment facility.
Before moving ahead, GLE will first look at the results of a demonstration test loop, which is currently under construction, and obtain an NRC license to build and operate the commercial plant. Pending approvals, the facility is expected to come online in 2012...
GE says gets $350 mln Dubai order for jet engines
General Electric Co said on Wednesday that LCAL, a Dubai-based aircraft leasing company, has agreed to buy GEnx jet engines to power up to 13 of its aircraft. The engines, with a list price of more than $350 million collectively, would power Boeing Co made 787 aircraft, GE Aviation said....
GE names Miller as chief accounting officer
General Electric Co on Wednesday named Jamie Miller as chief accounting officer, succeeding Walter Ielusic, who had held the post on an acting basis....
GE Buys Stake in French Infrared Unit
General Electric, the U.S. industrial conglomerate, has bought for an undisclosed amount a 15 percent stake in Ulis, a subsidiary of Sofradir, a French maker of infrared detectors.
Ulis makes uncooled IR detectors mainly for commercial uses, said Sofradir in an April 30 statement....
Recent News: Annual Shareholders Meeting, GE Japan, Cost-Cutting, Hybrid Vehicle, Fortune 500, and The Environment
In the spotlight: GE meeting puts Erie on national stage (VIDEO)
Jeffrey R. Immelt, chairman and CEO of General Electric Co., hardly seemed surprised by the questions or fazed by the charges."You can't do a job like this if you can't take a punch," he said Wednesday...
GE Japan's Norbom Succeeds Bertamini as CEO for China Business
General Electric Co. named Mark Norbom as chief executive officer of its China operations, succeeding Steve Bertamini, who is leaving to run Standard Chartered Plc's consumer-banking group. The appointment is effective immediately and Norbom will continue to run GE Japan until a replacement is named, spokesman Greg Farrett said. Bertamini will remain with the Fairfield, Connecticut-based company until May 16. He starts at Standard Chartered on June 1, according to an April 22 statement by the bank to the London Stock Exchange...
GE raises target for cost-cutting
General Electric Co. Chief Executive Jeffrey Immelt said Wednesday that capital markets had improved since the end of the first quarter but that the overall economic picture was unchanged, and that the company had raised its 2008 cost-cutting goal by $1 billion....
GE debuts hybrid dump truck
We have seen the advent of hybrid cars, hybrid trains and even hybrid tanks. Now General Electric (GE) has announced that it has successfully tested a giant hybrid dump truck.
Writing on the GE Global Research blog, Tim Richter an engineer in the conglomerate's hybrid vehicle team, said that the haul truck had been fitted with a hybrid system based on the same battery technology used in the hybrid locomotive the company demonstrated last year....
GE's bad idea
We knew that General Electric Co. was in a bit of trouble. Many large corporations are, as the national economy slides further toward what could be a severe recession. That much can explain GE's CEO, Jeff Immelt, appearing before an investors meeting last week vowing to do better.
What can't be so readily explained, however, is just what would compel GE, still one of the world's richest companies, to try to plead its way out of having to pay what for it is ultimately a tiny tax bill...
GE Expects To Cut $3 Billion In Costs
Less than two weeks after General Electric Co. shocked investors by reporting a 6 percent loss in first-quarter profits, CEO Jeff Immelt told shareholders at the company’s annual meeting that he expects “even more difficult times ahead” for the economy. Immelt told more than 1,000 shareholders at the company’s annual meeting in Erie, Pa. that he was disappointed that GE will fail to deliver on a promised 10 percent earnings for 2008, and said the company would “learn from our successes and failures to get better.”...
GE meeting successful by all counts
Seeing the corporate jets lined up at Erie International Airport, and the nearly 2,000 General Electric Co. shareholders at the Bayfront Convention Center on Wednesday had to leave the Erie region feeling it was part of something bigger than itself....
GE Leads 11 Connecticut Companies In Fortune 500
General Electric Corp. led 11 Connecticut companies on the latest Fortune 500 list, which was published this month in Fortune magazine. Eighteen other companies from Connecticut made the Fortune 1000 list, the annual ranking of America’s largest corporations based on total revenues for 2007. Fairfield-based GE ranked No. 6 in revenues at $176.7 billion, behind Wal-Mart Stores, Exxon Mobil, Chevron, General Motors and ConocoPhillips...
GE supports environmental effort
The heat on General Electric Co. Chief Executive Jeffrey Immelt came from all camps this week.That happens when a first-quarter earnings report chops 13 percent off a company's stock...
Jeffrey R. Immelt, chairman and CEO of General Electric Co., hardly seemed surprised by the questions or fazed by the charges."You can't do a job like this if you can't take a punch," he said Wednesday...
GE Japan's Norbom Succeeds Bertamini as CEO for China Business
General Electric Co. named Mark Norbom as chief executive officer of its China operations, succeeding Steve Bertamini, who is leaving to run Standard Chartered Plc's consumer-banking group. The appointment is effective immediately and Norbom will continue to run GE Japan until a replacement is named, spokesman Greg Farrett said. Bertamini will remain with the Fairfield, Connecticut-based company until May 16. He starts at Standard Chartered on June 1, according to an April 22 statement by the bank to the London Stock Exchange...
GE raises target for cost-cutting
General Electric Co. Chief Executive Jeffrey Immelt said Wednesday that capital markets had improved since the end of the first quarter but that the overall economic picture was unchanged, and that the company had raised its 2008 cost-cutting goal by $1 billion....
GE debuts hybrid dump truck
We have seen the advent of hybrid cars, hybrid trains and even hybrid tanks. Now General Electric (GE) has announced that it has successfully tested a giant hybrid dump truck.
Writing on the GE Global Research blog, Tim Richter an engineer in the conglomerate's hybrid vehicle team, said that the haul truck had been fitted with a hybrid system based on the same battery technology used in the hybrid locomotive the company demonstrated last year....
GE's bad idea
We knew that General Electric Co. was in a bit of trouble. Many large corporations are, as the national economy slides further toward what could be a severe recession. That much can explain GE's CEO, Jeff Immelt, appearing before an investors meeting last week vowing to do better.
What can't be so readily explained, however, is just what would compel GE, still one of the world's richest companies, to try to plead its way out of having to pay what for it is ultimately a tiny tax bill...
GE Expects To Cut $3 Billion In Costs
Less than two weeks after General Electric Co. shocked investors by reporting a 6 percent loss in first-quarter profits, CEO Jeff Immelt told shareholders at the company’s annual meeting that he expects “even more difficult times ahead” for the economy. Immelt told more than 1,000 shareholders at the company’s annual meeting in Erie, Pa. that he was disappointed that GE will fail to deliver on a promised 10 percent earnings for 2008, and said the company would “learn from our successes and failures to get better.”...
GE meeting successful by all counts
Seeing the corporate jets lined up at Erie International Airport, and the nearly 2,000 General Electric Co. shareholders at the Bayfront Convention Center on Wednesday had to leave the Erie region feeling it was part of something bigger than itself....
GE Leads 11 Connecticut Companies In Fortune 500
General Electric Corp. led 11 Connecticut companies on the latest Fortune 500 list, which was published this month in Fortune magazine. Eighteen other companies from Connecticut made the Fortune 1000 list, the annual ranking of America’s largest corporations based on total revenues for 2007. Fairfield-based GE ranked No. 6 in revenues at $176.7 billion, behind Wal-Mart Stores, Exxon Mobil, Chevron, General Motors and ConocoPhillips...
GE supports environmental effort
The heat on General Electric Co. Chief Executive Jeffrey Immelt came from all camps this week.That happens when a first-quarter earnings report chops 13 percent off a company's stock...
