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....