General Electric spent $4.2M on 1Q lobbying
General Electric Co. spent more than $4.2 million in the first quarter lobbying on issues as wide-ranging as the businesses it runs, according to a disclosure report...
GE Execs Dig In as Stock Falters
SHARES OF GENERAL ELECTRIC (ticker: GE) have continued their slide, but insiders have continued to signal confidence, snapping up $4.5 million in stock in the last two weeks.
On Wednesday Vice Chairman Michael Neal purchased 35,000 shares for $1 million, or $29.99 a share. He now owns 520,154 shares directly and 3,729 shares in his 401(k) plan...
General Electric: A Dow 30 Dog
After what looked like a washout bottom yesterday with General Electric Inc. (GE) shares tumbling to a near 5 year low at $28.89, the stock is sporting another 1% drop this morning – even with the Dow Jones Industrial Average up 1.4%, holding for now a triple digit gain. The conglomerate is the second largest percentage loser and one of only five stocks in the Dow 30 that are lower...
Option Update: General Electric put volume-volatility spike
GE is expected to report Q2 (earnings per share) EPS in mid-July. GE call option volume of 84,047 contracts compares to put volume of 205,829 contracts. GE June & July option implied volatility of 36 is above its 26-week average of 28 according to Track Data, suggesting larger price risk...
Sunday, June 29, 2008
Stock Analysis: General Electric (Seeking Alpha)
Company Description: General Electric is a diversified technology, media and financial services company. With products and services ranging from engines, power generation, water processing to medical, financing, media and industrial products....
READ MORE >>
READ MORE >>
Recent News: NBC, GE Energy, CEO Hot Seat, Digital Microscope, and Solar
NBC sells $1.9 billion in 'upfront' ads
NBC Television has sold about $1.9 billion in advertising sales for the fall season, the first broadcaster to sell nearly all of its available commercials during the annual "upfront" period, a source familiar with the situation confirmed Friday....
GE shares in $1B Algerian power plant contract
A partnership that includes a unit of conglomerate General Electric Co. has received a contract worth nearly $1 billion to build a new power plant in Algeria. GE Energy and its partner, Algerian electric company Shariket Karhaba Koudiet Eddraouch Spa, received the contract for the 1,200-megawatt gas-turbine power plant....
Time Warner says no agenda for NBC deal
Media conglomerate Time Warner Inc said on Monday it has no agenda regarding buying General Electric Co's NBC Universal but it would consider the matter if the unit came up for sale.
"We don't need to or have a particular agenda with regard to those networks," Time Warner Chief Executive Jeffrey Bewkes said in response to a question at a Deutsche Bank media and telecom conference. "We'd have to look at that if and when it came up."
CEO’s on the Hot Seat: LEH, JAVA, GE
It’s all about managing expectations well and staying credible in the eye of the public, which unfortunately these top management folks haven’t done...
GE Energy buys Dallas-based mobile mapping firm
GE Energy, a unit of conglomerate General Electric Co., said Wednesday it will buy MapFrame, a Dallas-based provider of mobile mapping services, in a move to expand its utility transmission and distribution portfolio....
Digital microscope could be $500 mln business-GE
A General Electric Co joint venture to develop a device to allow doctors to view tissue samples from patients on computer monitors rather than using microscopes could be generating $500 million in annual revenue within the next decade, the head of the venture said....
GE Energy buys majority share in PrimeStar Solar
GE Energy has increased its equity share in PrimeStar Solar, becoming the majority shareholder in the solar thin-film technology and manufacturing company. GE Energy had held a minority equity share in the company since September 2007....
NBC Television has sold about $1.9 billion in advertising sales for the fall season, the first broadcaster to sell nearly all of its available commercials during the annual "upfront" period, a source familiar with the situation confirmed Friday....
GE shares in $1B Algerian power plant contract
A partnership that includes a unit of conglomerate General Electric Co. has received a contract worth nearly $1 billion to build a new power plant in Algeria. GE Energy and its partner, Algerian electric company Shariket Karhaba Koudiet Eddraouch Spa, received the contract for the 1,200-megawatt gas-turbine power plant....
Time Warner says no agenda for NBC deal
Media conglomerate Time Warner Inc said on Monday it has no agenda regarding buying General Electric Co's NBC Universal but it would consider the matter if the unit came up for sale.
"We don't need to or have a particular agenda with regard to those networks," Time Warner Chief Executive Jeffrey Bewkes said in response to a question at a Deutsche Bank media and telecom conference. "We'd have to look at that if and when it came up."
CEO’s on the Hot Seat: LEH, JAVA, GE
It’s all about managing expectations well and staying credible in the eye of the public, which unfortunately these top management folks haven’t done...
GE Energy buys Dallas-based mobile mapping firm
GE Energy, a unit of conglomerate General Electric Co., said Wednesday it will buy MapFrame, a Dallas-based provider of mobile mapping services, in a move to expand its utility transmission and distribution portfolio....
Digital microscope could be $500 mln business-GE
A General Electric Co joint venture to develop a device to allow doctors to view tissue samples from patients on computer monitors rather than using microscopes could be generating $500 million in annual revenue within the next decade, the head of the venture said....
GE Energy buys majority share in PrimeStar Solar
GE Energy has increased its equity share in PrimeStar Solar, becoming the majority shareholder in the solar thin-film technology and manufacturing company. GE Energy had held a minority equity share in the company since September 2007....
Saturday, June 28, 2008
Recent News: Wind, Insider Buying, Iraq, NBC, Australia Mortgage, and Dividends
enXco To Buy 200 GE Wind Turbines
enXco--an EDF Energies Nouvelles company--announced its second agreement in recent months with GE Energy to purchase turbines for new wind projects. Under the agreement, enXco will purchase 200 turbines representing 300 megawatts (MW) of electricity-producing capacity from GE Wind...
Who's Buying Now?
It's time once again to check out the week's most interesting insider purchases. After reading through numerous filings using insider tracking tool Form 4 Oracle, here are my top five today...
Iraq signs $480 mln contract with GE for power plants
Iraq has signed a contract with General Electric Co worth $480 million to build three power plants and is negotiating with Hyundai to buy diesel generators, the country's electricity minister said on Friday....
GE's NBC unit sells out nearly all TV ads for fall season
General Electric Co.'s NBC-TV unit scored a first in the annual network upfront ad sales game by selling out nearly all its inventory for the coming fall season, The Wall Street Journal reported Friday. The peacock network has secured commitments for about $1.9 billion in prime-time advertising, people close to the network told the newspaper. The fourth-place network had to sell more of its pre-season ad inventory than last year, rather than saving inventory for the shorter-term spot market, which can be more lucrative...
GE to sell Australian mortgage business
General Electric has appointed JP Morgan and Citigroup to manage the possible sale of its Australian mortgage business, a spokesman for GE Money Australia said on Friday. Wizard Home Loans, which GE bought from its founder Mark Bouris in 2004 for about $481 million, is a non-bank lender with some 250 branches....
Pentair, GE may link water businesses
Among the scores of water-technology companies around Milwaukee, one stands out for its size: Pentair Inc. has 1,450 employees at three local subsidiaries. Pentair is ready to expand further. It's negotiating with rival General Electric Co. to combine their respective residential water-treatment businesses into a joint venture with most of the research, development and global production working together at existing Pentair and GE sites around Milwaukee.
GE Declares 31 Cent Dividend
General Electric's board has authorized a regular quarterly dividend of $0.31 per outstanding share of the company's common stock. The dividend is payable on July 25 to shareowners of record at the close of business on June 23...
enXco--an EDF Energies Nouvelles company--announced its second agreement in recent months with GE Energy to purchase turbines for new wind projects. Under the agreement, enXco will purchase 200 turbines representing 300 megawatts (MW) of electricity-producing capacity from GE Wind...
Who's Buying Now?
It's time once again to check out the week's most interesting insider purchases. After reading through numerous filings using insider tracking tool Form 4 Oracle, here are my top five today...
Iraq signs $480 mln contract with GE for power plants
Iraq has signed a contract with General Electric Co worth $480 million to build three power plants and is negotiating with Hyundai to buy diesel generators, the country's electricity minister said on Friday....
GE's NBC unit sells out nearly all TV ads for fall season
General Electric Co.'s NBC-TV unit scored a first in the annual network upfront ad sales game by selling out nearly all its inventory for the coming fall season, The Wall Street Journal reported Friday. The peacock network has secured commitments for about $1.9 billion in prime-time advertising, people close to the network told the newspaper. The fourth-place network had to sell more of its pre-season ad inventory than last year, rather than saving inventory for the shorter-term spot market, which can be more lucrative...
GE to sell Australian mortgage business
General Electric has appointed JP Morgan and Citigroup to manage the possible sale of its Australian mortgage business, a spokesman for GE Money Australia said on Friday. Wizard Home Loans, which GE bought from its founder Mark Bouris in 2004 for about $481 million, is a non-bank lender with some 250 branches....
Pentair, GE may link water businesses
Among the scores of water-technology companies around Milwaukee, one stands out for its size: Pentair Inc. has 1,450 employees at three local subsidiaries. Pentair is ready to expand further. It's negotiating with rival General Electric Co. to combine their respective residential water-treatment businesses into a joint venture with most of the research, development and global production working together at existing Pentair and GE sites around Milwaukee.
GE Declares 31 Cent Dividend
General Electric's board has authorized a regular quarterly dividend of $0.31 per outstanding share of the company's common stock. The dividend is payable on July 25 to shareowners of record at the close of business on June 23...
Recent News: Water, Appliances - LG, NBC - Weather Channel, GE Aviation, Global Growth, Ratings, Santander, and GE Energy Financial Services
GE eyes world's next big worry: water
Surging oil prices have captured the attention of consumers and leaders around the globe, but General Electric Co. is already on to what it thinks will be the world's next big worry -- water. The company said on Wednesday it aims to cut its water usage 20 percent by 2012, a move that should reduce its annual operating costs by $15 million to $20 million....
LG Electronics says no decision on possible GE appliance unit bid
LG Electronics Inc. said Wednesday it has made no decisions on a possible bid for General Electric Co.'s appliance unit....
LG is a leading contender to buy GE appliance unit
General Electric named LG Electronics of South Korea on Wednesday as one of the leading contenders to buy its appliance business, which is valued at $4 billion to $8 billion.
Major Asian appliance makers like Haier Electronics Group of China and LG have been cited as likely bidders since GE said earlier this month that it may part with its century-old appliances unit. The unit had 2007 revenues of $7.2 billion....
Suitors line up for GE appliances
General Electric (GE) has named four companies it says are interested in buying its household appliances unit. It cited LG Electronics, China's Haier, Mabe of Mexico and Arcelik of Turkey as possible bidders for the unit, whose products include fridges and toasters. The US industrial giant said last month that it was likely to stop making household appliances after more than a century in the business...
Report: NBC U (GE) Bidding $3.5 Billion For Weather Channel
When Landmark first put Weather Channel on the block in January, the asking price floated was $5 billion. Now the leading bidder for the cable channel and Web site, a consortium including NBC U (GE), Blackstone Group and Bain Capital, is offering $3.5 billion, roughly half of which, or $1.8 billion, is equity, according to Reuters. Blackstone's GSO Capital is also putting in $600 million....
Four communities in running for GE facility
A planned 400,000-square-foot, $75 million GE Aviation engineering facility will be located in one of four locations, possibly West Chester Twp. Just who winds up with the prize may come down to aggressive salesmanship. ExtrasGE spokesman Rick Kennedy said West Chester Twp., Evendale, Springdale and a location in Boone County, Ky., are the potential homes of a consolidated office that will house almost 1,600 GE Aviation employees with a total annual payroll of about $140 million....
Nippon Takes Delivery Of GE's 1st Upgraded CF6-80C2 Engine
Nippon Cargo Airlines recently took delivery of its first General Electric CF6-80C2 engines incorporating a new, high-pressure turbine upgrade. The turbine upgrade, part of GE's new Tech CF6 program, was installed in engines for the airline's new Boeing 747-400F aircraft. Nippon Cargo ordered four 747-400F aircraft, and the first was delivered today. The remaining three will be delivered between now and February 2009...
If GE Thinks Globally, Shouldn't You?
It's hard enough keeping tabs on suppliers and customers within your own area code. Networking and expanding overseas? That's for the big guys, right? Not necessarily. In the U.S., small businesses thrive in niches overlooked by the big corporations, and the same holds true in other countries. These days, as the American economy stumbles, looking beyond the U.S. may be the key to success....
General Electric shares could be a buy - Barron's
Shares of General Electric Co, the second largest U.S. company, have limited downside and investors can now make a better case for buying the stock, financial weekly Barron's reported in its June 2 edition....
GE, Santander finalize GE Money, Interbanca deal
General Electric Co. said on Monday its GE Commercial Finance unit finalized an agreement to acquire Banco Santander SA's Italian banking arm Interbanca, while the Spanish bank buys several GE Money businesses in Europe....
GE to seek partnerships in consumer credit segment in Italy
General Electric Co, after closing the deal to take over Interbanca SpA, is looking for further partnerships in Italy in the consumer credit segment, said Giuseppe Recchi, chairman of GE Italia in an interview with daily La Stampa....
GeoResources, GE unit team up on Oklahama reserves investment
GeoResources Inc. is teaming up with GE Energy Financial Services to invest up to $90.5 million to buy and develop proven producing oil and gas reserves in Oklahoma....
Surging oil prices have captured the attention of consumers and leaders around the globe, but General Electric Co. is already on to what it thinks will be the world's next big worry -- water. The company said on Wednesday it aims to cut its water usage 20 percent by 2012, a move that should reduce its annual operating costs by $15 million to $20 million....
LG Electronics says no decision on possible GE appliance unit bid
LG Electronics Inc. said Wednesday it has made no decisions on a possible bid for General Electric Co.'s appliance unit....
LG is a leading contender to buy GE appliance unit
General Electric named LG Electronics of South Korea on Wednesday as one of the leading contenders to buy its appliance business, which is valued at $4 billion to $8 billion.
Major Asian appliance makers like Haier Electronics Group of China and LG have been cited as likely bidders since GE said earlier this month that it may part with its century-old appliances unit. The unit had 2007 revenues of $7.2 billion....
Suitors line up for GE appliances
General Electric (GE) has named four companies it says are interested in buying its household appliances unit. It cited LG Electronics, China's Haier, Mabe of Mexico and Arcelik of Turkey as possible bidders for the unit, whose products include fridges and toasters. The US industrial giant said last month that it was likely to stop making household appliances after more than a century in the business...
Report: NBC U (GE) Bidding $3.5 Billion For Weather Channel
When Landmark first put Weather Channel on the block in January, the asking price floated was $5 billion. Now the leading bidder for the cable channel and Web site, a consortium including NBC U (GE), Blackstone Group and Bain Capital, is offering $3.5 billion, roughly half of which, or $1.8 billion, is equity, according to Reuters. Blackstone's GSO Capital is also putting in $600 million....
Four communities in running for GE facility
A planned 400,000-square-foot, $75 million GE Aviation engineering facility will be located in one of four locations, possibly West Chester Twp. Just who winds up with the prize may come down to aggressive salesmanship. ExtrasGE spokesman Rick Kennedy said West Chester Twp., Evendale, Springdale and a location in Boone County, Ky., are the potential homes of a consolidated office that will house almost 1,600 GE Aviation employees with a total annual payroll of about $140 million....
Nippon Takes Delivery Of GE's 1st Upgraded CF6-80C2 Engine
Nippon Cargo Airlines recently took delivery of its first General Electric CF6-80C2 engines incorporating a new, high-pressure turbine upgrade. The turbine upgrade, part of GE's new Tech CF6 program, was installed in engines for the airline's new Boeing 747-400F aircraft. Nippon Cargo ordered four 747-400F aircraft, and the first was delivered today. The remaining three will be delivered between now and February 2009...
If GE Thinks Globally, Shouldn't You?
It's hard enough keeping tabs on suppliers and customers within your own area code. Networking and expanding overseas? That's for the big guys, right? Not necessarily. In the U.S., small businesses thrive in niches overlooked by the big corporations, and the same holds true in other countries. These days, as the American economy stumbles, looking beyond the U.S. may be the key to success....
General Electric shares could be a buy - Barron's
Shares of General Electric Co, the second largest U.S. company, have limited downside and investors can now make a better case for buying the stock, financial weekly Barron's reported in its June 2 edition....
GE, Santander finalize GE Money, Interbanca deal
General Electric Co. said on Monday its GE Commercial Finance unit finalized an agreement to acquire Banco Santander SA's Italian banking arm Interbanca, while the Spanish bank buys several GE Money businesses in Europe....
GE to seek partnerships in consumer credit segment in Italy
General Electric Co, after closing the deal to take over Interbanca SpA, is looking for further partnerships in Italy in the consumer credit segment, said Giuseppe Recchi, chairman of GE Italia in an interview with daily La Stampa....
GeoResources, GE unit team up on Oklahama reserves investment
GeoResources Inc. is teaming up with GE Energy Financial Services to invest up to $90.5 million to buy and develop proven producing oil and gas reserves in Oklahoma....
Sunday, June 22, 2008
Recent News: Weather Channel, NBC, China Growth, Appliance Sale (Videocon, LG, HAIER, Arcelik), Water, Energy, Saudi Arabia, and Immelt Trading
NBC Universal a top Weather Channel bidder-source
General Electric Co's NBC Universal, in partnership with the Blackstone Group, is seen as a leading contender for the Weather Channel, a source familiar with the matter said on Friday...
INTERVIEW-GE Fanuc expects faster growth in greater China
GE Fanuc, General Electric's production systems venture with Japan's Fanuc Ltd, expects its greater China sales will grow up to 30 percent annually over the next four to five years, up from about 20 percent now, as regional firms look to improve efficiency....
GE chief executive defends company's broad portfolio in face of calls to shed more businesses
General Electric Co.'s chief executive officer on Wednesday defended the industrial conglomerate's broad array of businesses and his decisions to sell off several units.
Jeffrey Immelt has been under pressure to shed more businesses, particularly after the Fairfield-based company's disappointing first-quarter earnings release last month in which profit fell 6 percent, to $4.3 billion (€2.73 billion)...
Videocon may bid for GE's appliances division
Videocon, the diversified electronics and retail business group, is studying an invitation from General Electric (GE) to bid for its century-old appliances division, which it has put up for sale...
General Electric should not sell NBC Universal
Lately, I've been hearing a lot of chatter about General Electric and its NBC Universal asset. Specifically, there's been talk about the future of the movie and television business and its role as a productive member of the GE portfolio. There are a lot of pundits out there who would like to see it sold off; probably a lot of investors would like that, too. Thankfully, CEO Jeffrey Immelt isn't one of them; he has consistently and steadfastly denied that NBC Universal will be offered to buyers in the near future. I hope he retains such opinion, because I definitely think GE needs NBC Universal....
LG Electronics Is Looking At GE's Appliance Unit
LG Electronics Inc.'s chief executive said the company is taking a close look at General Electric Co.'s appliance unit, which has recently been put up for sale, though he stopped short of declaring an interest in buying it....
HAIER Group Corp bids to buy GE unit under study
HAIER Group Corp is considering buying General Electric Co's consumer-appliance unit, the Economic Observer reported, citing an unidentified official with Haier. Haier has held talks with China Development Bank on financing the bid which could cost between 4 billion U.S. dollars and 8 billion U.S. dollars, the Beijing-based newspaper said in a report last Saturday. The Qingdao-based company hasn't yet made contact with GE about a possible purchase of the unit which makes refrigerators, ovens and dishwashers, the weekly newspaper said...
Turkey's Arcelik eyes to buy GE's appliance unit
Arcelik, Turkey's largest manufacturer of household appliances is among the several potential suitors vying to acquire the electrical household appliances of world giant General Electric (GE), company Chief Executive Officer Jeffrey Immelt said on Wednesday....
General Electric to Cut Water Usage by 20% by 2012
General Electric Co., the world's biggest maker of power-generation equipment and jet engines, plans to reduce water consumption by one-fifth by 2012 as part of its conservation efforts.
In addition to the first-ever water reduction pledge, Fairfield, Connecticut-based GE also said it intends to have $25 billion in sales of environmentally friendlier products and services by 2010, a 25 percent increase...
GE Energy signs $500 million for gas turbines, generators in Saudi Arabia
GE Energy, a General Electric Co. business, has signed contracts of more than $500 million (€319.37 million) to build and install gas turbines and generators at Saudi Arabian power plants, the company announced....
GE unit wins $500 million Saudi power contract
General Electric Co said on Thursday that its GE Energy unit had won $500 million in contracts to supply gas turbines and generators to various power plants owned by the Saudi Electricity Co...
Immelt Sells And Buys GE
Jeff Immelt was the consummate salesman Wednesday as he fanned the flames around the proposed sale of GE's appliance business by outing several bidders. He was also selling when he bought up more company stock, but with that move he was selling himself....
General Electric CEO buys 115,000 shares
The chief executive of General Electric Co. bought 115,000 shares of the conglomerate on Wednesday, according to a regulatory filing. In a U.S. Securities and Exchange Commission filing, Jeffrey Immelt said he bought the shares for prices ranging from $30.59 to $30.66 a share, for a total of about $3.5 million....
General Electric Co's NBC Universal, in partnership with the Blackstone Group, is seen as a leading contender for the Weather Channel, a source familiar with the matter said on Friday...
INTERVIEW-GE Fanuc expects faster growth in greater China
GE Fanuc, General Electric's production systems venture with Japan's Fanuc Ltd, expects its greater China sales will grow up to 30 percent annually over the next four to five years, up from about 20 percent now, as regional firms look to improve efficiency....
GE chief executive defends company's broad portfolio in face of calls to shed more businesses
General Electric Co.'s chief executive officer on Wednesday defended the industrial conglomerate's broad array of businesses and his decisions to sell off several units.
Jeffrey Immelt has been under pressure to shed more businesses, particularly after the Fairfield-based company's disappointing first-quarter earnings release last month in which profit fell 6 percent, to $4.3 billion (€2.73 billion)...
Videocon may bid for GE's appliances division
Videocon, the diversified electronics and retail business group, is studying an invitation from General Electric (GE) to bid for its century-old appliances division, which it has put up for sale...
General Electric should not sell NBC Universal
Lately, I've been hearing a lot of chatter about General Electric and its NBC Universal asset. Specifically, there's been talk about the future of the movie and television business and its role as a productive member of the GE portfolio. There are a lot of pundits out there who would like to see it sold off; probably a lot of investors would like that, too. Thankfully, CEO Jeffrey Immelt isn't one of them; he has consistently and steadfastly denied that NBC Universal will be offered to buyers in the near future. I hope he retains such opinion, because I definitely think GE needs NBC Universal....
LG Electronics Is Looking At GE's Appliance Unit
LG Electronics Inc.'s chief executive said the company is taking a close look at General Electric Co.'s appliance unit, which has recently been put up for sale, though he stopped short of declaring an interest in buying it....
HAIER Group Corp bids to buy GE unit under study
HAIER Group Corp is considering buying General Electric Co's consumer-appliance unit, the Economic Observer reported, citing an unidentified official with Haier. Haier has held talks with China Development Bank on financing the bid which could cost between 4 billion U.S. dollars and 8 billion U.S. dollars, the Beijing-based newspaper said in a report last Saturday. The Qingdao-based company hasn't yet made contact with GE about a possible purchase of the unit which makes refrigerators, ovens and dishwashers, the weekly newspaper said...
Turkey's Arcelik eyes to buy GE's appliance unit
Arcelik, Turkey's largest manufacturer of household appliances is among the several potential suitors vying to acquire the electrical household appliances of world giant General Electric (GE), company Chief Executive Officer Jeffrey Immelt said on Wednesday....
General Electric to Cut Water Usage by 20% by 2012
General Electric Co., the world's biggest maker of power-generation equipment and jet engines, plans to reduce water consumption by one-fifth by 2012 as part of its conservation efforts.
In addition to the first-ever water reduction pledge, Fairfield, Connecticut-based GE also said it intends to have $25 billion in sales of environmentally friendlier products and services by 2010, a 25 percent increase...
GE Energy signs $500 million for gas turbines, generators in Saudi Arabia
GE Energy, a General Electric Co. business, has signed contracts of more than $500 million (€319.37 million) to build and install gas turbines and generators at Saudi Arabian power plants, the company announced....
GE unit wins $500 million Saudi power contract
General Electric Co said on Thursday that its GE Energy unit had won $500 million in contracts to supply gas turbines and generators to various power plants owned by the Saudi Electricity Co...
Immelt Sells And Buys GE
Jeff Immelt was the consummate salesman Wednesday as he fanned the flames around the proposed sale of GE's appliance business by outing several bidders. He was also selling when he bought up more company stock, but with that move he was selling himself....
General Electric CEO buys 115,000 shares
The chief executive of General Electric Co. bought 115,000 shares of the conglomerate on Wednesday, according to a regulatory filing. In a U.S. Securities and Exchange Commission filing, Jeffrey Immelt said he bought the shares for prices ranging from $30.59 to $30.66 a share, for a total of about $3.5 million....
Saturday, June 7, 2008
Recent News: Bill O'Reilly & Jeffery Immelt at it Again
Feud Fuels Bill O'Reilly's Blasts at GE
Bill O'Reilly, the Fox News star, is mounting an extraordinary televised assault on the chief executive of General Electric, calling him a "pinhead" and a "despicable human being" who bears responsibility for the deaths of American soldiers in Iraq...
Media World: Bill O'Reilly's nasty war against General Electric
The feud between Fox News' Bill O'Reilly and MSNBC's Keith Olbermann has morphed from a sometimes amusing spat between cable news hosts to a clash of corporate titans....
O'Reilly Irrational Jihad #472: General Electric
Bill O'Reilly has identified yet another Greatest Threat to America to go along with DailyKos, Arianna Huffington, college professors, the War on Christmas, George Soros, and lesbian gangs with pink guns -- General Electric, parent company of NBC, and its CEO, Jeffrey Immelt...
Bill O'Reilly Video Rant Gives Way to GE "Pinhead"
Bill O'Reilly made waves earlier with a viral video rant full of all sorts of explicit language that brought great humor to many of his detectors. The video is still online but now Bill O'Reilly is making waves for something a bit more serious. Don't worry, O'Reilly is still furious but he is aiming his wrath at the chief executive of General Electric, and according to a report from the Washington Post he calls him all sorts of names...
Bill O'Reilly, the Fox News star, is mounting an extraordinary televised assault on the chief executive of General Electric, calling him a "pinhead" and a "despicable human being" who bears responsibility for the deaths of American soldiers in Iraq...
Media World: Bill O'Reilly's nasty war against General Electric
The feud between Fox News' Bill O'Reilly and MSNBC's Keith Olbermann has morphed from a sometimes amusing spat between cable news hosts to a clash of corporate titans....
O'Reilly Irrational Jihad #472: General Electric
Bill O'Reilly has identified yet another Greatest Threat to America to go along with DailyKos, Arianna Huffington, college professors, the War on Christmas, George Soros, and lesbian gangs with pink guns -- General Electric, parent company of NBC, and its CEO, Jeffrey Immelt...
Bill O'Reilly Video Rant Gives Way to GE "Pinhead"
Bill O'Reilly made waves earlier with a viral video rant full of all sorts of explicit language that brought great humor to many of his detectors. The video is still online but now Bill O'Reilly is making waves for something a bit more serious. Don't worry, O'Reilly is still furious but he is aiming his wrath at the chief executive of General Electric, and according to a report from the Washington Post he calls him all sorts of names...
Recent News: T. Boone Pickens & Wind, Appliance Unit, 2008 Profit Forecasts, Innovative?, and GE Healthcare
Mesa Sets Major Order For GE Wind Turbines Texas billionaire T. Boone Pickens's Mesa Power LLP placed the biggest-ever single-site order for wind turbines with General Electric Co., the latest sign of growing momentum behind clean-energy initiatives despite lingering uncertainty over government support.
Mesa will purchase 667 GE 1.5 megawatt wind turbines, as part of the $2 billion first phase of the biggest wind farm in the U.S...
GE's Immelt says appliances unit "easily sellable"
General Electric Co. has already had a lot of inquiries from potential buyers of its appliances unit, mostly from outside the United States, the company's top executive said on Wednesday. "We've had a lot of inquiries in the business and we think this is an asset that is easily sellable even in a difficult market," said Jeff Immelt, chairman and chief executive of the second-largest U.S. company by market capitalization. "Most of the potential buyers are outside the United States."...
GE CEO reiterates 2008 profit forecast
General Electric Co. on Wednesday reiterated its forecast that 2008 earnings per share will be flat to up 5 percent. "Infrastructure remains very strong, the global market remains very strong. The capital markets are slightly better than what we saw in the first quarter," said Jeff Immelt, chairman and chief executive of the second-largest U.S. company by market capitalization....
GE Is So-So
For now, General Electric says things are on track to be below par. The company's head, Jeff Immelt, affirmed its reduced earnings guidance Wednesday at the Electric Products Group Conference. In April, the company lowered its guidance for all of 2008 to a range of $2.20 to $2.30 per share from the previous $2.43....
How Innovative Is GE Really?
General Electric is selling its appliance division and the decision brings up a host of questions about whether or not the company is truly innovative or merely mouthing the words, as so many big companies do these days. I don’t have the answer yet but I am troubled by the sale of the GE brand of appliances for several reasons....
GE Healthcare sees 22% rev growth in Asia
General Electric Co's $US17 billion healthcare unit expects Asia Pacific revenue to grow an average of 22 per cent annually over the next three to five years, banking on strong spending on healthcare technology across the region...
Mesa Power Buys 667 GE Wind Turbines
Maverick Oklahoma oil tycoon, T. Boone Pickens is making good on his 2007 promise to build the world's largest wind farm by putting his money where his mouth is. His company, Mesa Power, has ordered 667 General Electric wind turbines that would produce 1,000 megawatts of electricity, enough electricity to power about 300,000 homes....
Mesa will purchase 667 GE 1.5 megawatt wind turbines, as part of the $2 billion first phase of the biggest wind farm in the U.S...
GE's Immelt says appliances unit "easily sellable"
General Electric Co. has already had a lot of inquiries from potential buyers of its appliances unit, mostly from outside the United States, the company's top executive said on Wednesday. "We've had a lot of inquiries in the business and we think this is an asset that is easily sellable even in a difficult market," said Jeff Immelt, chairman and chief executive of the second-largest U.S. company by market capitalization. "Most of the potential buyers are outside the United States."...
GE CEO reiterates 2008 profit forecast
General Electric Co. on Wednesday reiterated its forecast that 2008 earnings per share will be flat to up 5 percent. "Infrastructure remains very strong, the global market remains very strong. The capital markets are slightly better than what we saw in the first quarter," said Jeff Immelt, chairman and chief executive of the second-largest U.S. company by market capitalization....
GE Is So-So
For now, General Electric says things are on track to be below par. The company's head, Jeff Immelt, affirmed its reduced earnings guidance Wednesday at the Electric Products Group Conference. In April, the company lowered its guidance for all of 2008 to a range of $2.20 to $2.30 per share from the previous $2.43....
How Innovative Is GE Really?
General Electric is selling its appliance division and the decision brings up a host of questions about whether or not the company is truly innovative or merely mouthing the words, as so many big companies do these days. I don’t have the answer yet but I am troubled by the sale of the GE brand of appliances for several reasons....
GE Healthcare sees 22% rev growth in Asia
General Electric Co's $US17 billion healthcare unit expects Asia Pacific revenue to grow an average of 22 per cent annually over the next three to five years, banking on strong spending on healthcare technology across the region...
Mesa Power Buys 667 GE Wind Turbines
Maverick Oklahoma oil tycoon, T. Boone Pickens is making good on his 2007 promise to build the world's largest wind farm by putting his money where his mouth is. His company, Mesa Power, has ordered 667 General Electric wind turbines that would produce 1,000 megawatts of electricity, enough electricity to power about 300,000 homes....
Recent News: More on Appliances
Appliances A Washout At GE
Jeff Immelt isn't Thomas Edison, and General Electric isn't a general electric company anymore. The beleaguered chairman of the historic blue-chip has decided to sever its ties with its historic appliance business...
Why GE Is Dropping Appliances
General Electric CEO Jeff Immelt keeps telling us that the megaconglomerate is looking to refine its business model. If you didn't believe him before, maybe he'll get your attention by selling off GE's century-old consumer appliance division....
GE to 'switch off' appliance unit
US conglomerate General Electric (GE) may stop making household appliances after more than a century in the business. It blames a sharp slowdown in US consumer spending and the housing slump for weak sales of appliances. GE-branded fridges, ovens and air conditioners have made the firm a household name, but the unit generated just 4% of total revenues in 2007...
Jeff Immelt isn't Thomas Edison, and General Electric isn't a general electric company anymore. The beleaguered chairman of the historic blue-chip has decided to sever its ties with its historic appliance business...
Why GE Is Dropping Appliances
General Electric CEO Jeff Immelt keeps telling us that the megaconglomerate is looking to refine its business model. If you didn't believe him before, maybe he'll get your attention by selling off GE's century-old consumer appliance division....
GE to 'switch off' appliance unit
US conglomerate General Electric (GE) may stop making household appliances after more than a century in the business. It blames a sharp slowdown in US consumer spending and the housing slump for weak sales of appliances. GE-branded fridges, ovens and air conditioners have made the firm a household name, but the unit generated just 4% of total revenues in 2007...
Recent News: Appliance Unit for Sale
Why GE Is Getting Out of the Kitchen
By jettisoning one of its most iconic units, General Electric would join a small but high-profile club of companies that famously parted ways with businesses once synonymous with their brand names. Companies such as IBM and Eastman Kodak have also—either because of financial straits or tactical maneuvering—transformed themselves by letting go of ventures that once defined them...
GE appliances unit to have worldly suitors
Assessing the business's value is tricky, though. While some estimate the Fairfield, Conn.-based company could fetch between $5 billion and $8 billion for the unit, others see its current market value as a bit less. See full story from The Wall Street Journal...
GE To Put Out The Lights On Appliances
Being a good executive may mean knowing when to cut and run. For General Electric's Jeffrey Immelt, that time is now. The company is reportedly putting its iconic appliances business on the market...
Analysts say possible sale of GE appliance unit makes sense
The possible sale by General Electric Co. of its 101-year-old appliance business makes sense as consumer sales fall and financing continues to be squeezed, analysts said Thursday...
GE Appliance Sale May Foreshadow More Divestitures
General Electric Co.'s move away from consumer appliances may signal bigger divestitures by Chief Executive Officer Jeffrey Immelt this year, including the broader group that contains the century-old unit, analysts said. General Electric may sell, spin off or seek a partner for the refrigerator, oven and dishwasher unit, people familiar with the situation said yesterday. Appliances accounted for more than half of last year's $13.3 billion in sales at the GE Consumer & Industrial segment, which also sells lighting and switches....
G.E. Looks to Sell Its Appliances Unit
General Electric is planning to sell its appliances division, one of the longest-running businesses in the conglomerate’s 120-year history, a person briefed on the matter said Wednesday....
GE and the Death of Manufacturing
Is it the end of an era? Or is the era already over? When the Wall Street Journal first reported General Electric was leaving the appliance business, it seemed a telling metaphor for the state of American manufacturing and General Electric’s role in it. The American-made appliance business has been in turmoil for decades, with production moving offshore and brand names swapping hands. At GE’s appliance headquarters in Louisville, Ky., the number of employees surged to 23,000 in the 1970s. Today it employs 5,000...
GE confirms plans to exit appliance business
General Electric Co. said Friday it plans to sell or spin-off its century-old appliance business.
The Fairfield, Conn., industrial conglomerate said in a statement the move is part of an ongoing plan to exit "slower growth and more volatile businesses." The company is planning a strategic review that could result in an outright sale, a strategic partnership or a spin-off to shareholders...
By jettisoning one of its most iconic units, General Electric would join a small but high-profile club of companies that famously parted ways with businesses once synonymous with their brand names. Companies such as IBM and Eastman Kodak have also—either because of financial straits or tactical maneuvering—transformed themselves by letting go of ventures that once defined them...
GE appliances unit to have worldly suitors
Assessing the business's value is tricky, though. While some estimate the Fairfield, Conn.-based company could fetch between $5 billion and $8 billion for the unit, others see its current market value as a bit less. See full story from The Wall Street Journal...
GE To Put Out The Lights On Appliances
Being a good executive may mean knowing when to cut and run. For General Electric's Jeffrey Immelt, that time is now. The company is reportedly putting its iconic appliances business on the market...
Analysts say possible sale of GE appliance unit makes sense
The possible sale by General Electric Co. of its 101-year-old appliance business makes sense as consumer sales fall and financing continues to be squeezed, analysts said Thursday...
GE Appliance Sale May Foreshadow More Divestitures
General Electric Co.'s move away from consumer appliances may signal bigger divestitures by Chief Executive Officer Jeffrey Immelt this year, including the broader group that contains the century-old unit, analysts said. General Electric may sell, spin off or seek a partner for the refrigerator, oven and dishwasher unit, people familiar with the situation said yesterday. Appliances accounted for more than half of last year's $13.3 billion in sales at the GE Consumer & Industrial segment, which also sells lighting and switches....
G.E. Looks to Sell Its Appliances Unit
General Electric is planning to sell its appliances division, one of the longest-running businesses in the conglomerate’s 120-year history, a person briefed on the matter said Wednesday....
GE and the Death of Manufacturing
Is it the end of an era? Or is the era already over? When the Wall Street Journal first reported General Electric was leaving the appliance business, it seemed a telling metaphor for the state of American manufacturing and General Electric’s role in it. The American-made appliance business has been in turmoil for decades, with production moving offshore and brand names swapping hands. At GE’s appliance headquarters in Louisville, Ky., the number of employees surged to 23,000 in the 1970s. Today it employs 5,000...
GE confirms plans to exit appliance business
General Electric Co. said Friday it plans to sell or spin-off its century-old appliance business.
The Fairfield, Conn., industrial conglomerate said in a statement the move is part of an ongoing plan to exit "slower growth and more volatile businesses." The company is planning a strategic review that could result in an outright sale, a strategic partnership or a spin-off to shareholders...
Recent News: Rail, Wind, Bear Market, and NBC "Late Night"
GE close to $263 mln Bosnia rail deal
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....
Iberdrola to buy wind turbines from GE
Iberdrola will buy wind farm turbines from General Electric capable of generating 300 megawatts of power, or enough to power 75,000 homes, Iberdrola announced Friday. Terms of the deal were not announced...
General Electric (GE): Bellwether for a Global Bear Market
Worldwide infrastructure appears to be the next big investment magnet, and General Electric Co. is in the news today for having raised $5.64 billion with its partner, Credit Suisse Group, in a large private-equity venture called Global Infrastructure Partners....
GE's NBC Confirms Fallon Will Replace O'Brien On "Late Night"
NBC Universal confirmed Jimmy Fallon will replace Conan O'Brien as host of "Late Night" in 2009. The New York media company, a division of General Electric Co. (GE), said Fallon is known for his role as co-anchor of Saturday Night Live's "Weekend Update" and various television and hosting roles...
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....
Iberdrola to buy wind turbines from GE
Iberdrola will buy wind farm turbines from General Electric capable of generating 300 megawatts of power, or enough to power 75,000 homes, Iberdrola announced Friday. Terms of the deal were not announced...
General Electric (GE): Bellwether for a Global Bear Market
Worldwide infrastructure appears to be the next big investment magnet, and General Electric Co. is in the news today for having raised $5.64 billion with its partner, Credit Suisse Group, in a large private-equity venture called Global Infrastructure Partners....
GE's NBC Confirms Fallon Will Replace O'Brien On "Late Night"
NBC Universal confirmed Jimmy Fallon will replace Conan O'Brien as host of "Late Night" in 2009. The New York media company, a division of General Electric Co. (GE), said Fallon is known for his role as co-anchor of Saturday Night Live's "Weekend Update" and various television and hosting roles...
