GE Can't Shed Those Unwanted Pounds
There was a time not so long ago when it appeared that General Electric (NYSE: GE) was an undervalued conglomerate composed of numerous strong parts. But almost by the day it's become more likely that the company may be little more than a hodgepodge of ill-fitting businesses -- many of which it can't unload -- that are headed collectively for goodness-knows-where...
Cos Participating In US Govt's Commercial Paper Program
The following is a list of companies that have registered to participate in a program to allow companies to sell commercial paper to the Federal Reserve at a rate set daily plus a fee. The Commercial Paper Funding Facility is aimed at boosting the commercial paper market, where companies secure funding for day-to- day needs, from rent to inventory....
Gee Whiz GE!
General Electric investors were shocked late Wednesday when reports began circulating that the conglomerate’s chief executive said the company was looking to maintain its 2009 profit at 2008 levels, giving the entire stock market a kick in the teeth just as trading was ending for the day....
GE boosts bets on battery technology
With a 1914 electric car displayed outside, General Electric last week hosted a symposium on batteries for transportation and the electricity grid....
GE CEO: Cos Must Innovate Amid Current Environment
General Electric Co. (GE) Chief Executive Jeffrey Immelt said Wednesday companies must continue to emphasize research and development during the current financial crisis. They will need to innovate, especially in areas such as healthcare, education and renewable energy, he said....
Ugly Quote For GE
General Electric investors got a roller-coaster ride Wednesday afternoon following reports that the conglomerate's chief executive was looking to maintain its 2009 profit at 2008 levels....
GE to Convene 2009 Shareowners Meeting in Orlando, Florida
GE announced today that it plans to hold its 2009 Annual Meeting of Shareowners on April 22, 2009 in Orlando, Florida. GE gathers shareowners in a different city each year so as to demonstrate the performance of a different business and to illustrate the diversity and strength of the Company's business portfolio...
Dow Jones to issue "clarification" on GE story-source
Dow Jones Newswires plans to issue a "clarification" of a story that it published on Wednesday afternoon about comments that General Electric Co's chief executive made about the company's 2009 financial position, according to a source familiar with the matter....
GE calls Dow Jones Immelt report 'inaccurate'
A spokesman for General Electric Co said on Wednesday that a Dow Jones report quoting Chief Executive Jeff Immelt as forecasting flat profit in 2009 was "completely out of context and inaccurate."...
Friday, October 31, 2008
Recent News: Commercial paper, stock performance, earnings, batterys, innovation, annual shareholder meeting, and Immelt quote
Monday, October 27, 2008
Recent News: Job & Cost Custs, Regulation, Economy, Dividend, Jack Welch and GE Oil & Gas
Report: GE will cut costs as it braces for 2009
The chief executive of General Electric Co. said Friday that the company is cutting costs as it braces for a difficult 2009, The Wall Street Journal reported on its Web site. Jeff Immelt, in an interview at a conference at Columbia University in New York, said costs will be lower in 2009 than in 2008...
GE Will Cut Costs, Jobs, Immelt Says
General Electric Co. is cutting costs, preparing for a new wave of regulation from Washington and embracing manufacturing over financial services as ways out of the economic crisis, its chief executive said Friday. "Costs will be lower in 2009 than in 2008," Chairman and Chief Executive Officer Jeffrey Immelt said in an interview. "That will be true across the board." Employment will also be lower, he said, declining to name numbers or percentages....
GE cuts costs, prepares for more regulation
General Electric Co is cutting costs and preparing for a wave of regulation from Washington, the Wall Street Journal reported on Friday. Chairman and Chief Executive Jeffrey Immelt, speaking at a Columbia Business School social-enterprise conference, said costs and employment would be lower in 2009 across the board, the newspaper reported. Immelt did not give numbers or percentages, the report said....
GE’s Immelt Sees Shrinking Economy for 2-3 Quarters
The U.S. economy will have two or three quarters of “negative growth” once global financial systems stabilize, General Electric Co. Chief Executive Officer Jeffrey Immelt said.
“You might have a two- or three-quarter negative growth and then a slow pullout,” Immelt said during a Webcast presentation for students at New York University’s Stern School of Business. “You’ve got this financial crisis going on, behind which is recession.”...
GE Needs Fed Bailout To Finance Operations; Dividend At Risk
GE is struggling to get short term financing at a price it wants to pay. So what does GE do? The answer is twofold...
GE to Cut Costs, Jobs: Report
General Electric plans to cut costs next year as it confronts the global economic slowdown, according to a published media report...
A SUCCESS STORY: Virtual unknown GE Oil & Gas now a star
In 2001, General Electric Co’s oil and gas business had only a few dozen employees in Houston and was a virtual unknown in the oil patch. “Our primary goal was just to get people to know who we were,” said Mat Castaneda, general manager of North American sales for GE Oil & Gas....
GE's former CEO Welch says economy will improve in 2009
Former General Electric Co. Chief Executive Officer Jack Welch said the U.S. economy will start to improve in late 2009 after struggling for the next three quarters. "We are going to have some very tough times," Welch said on the ABC News "This Week" program. "The fourth quarter of this year could have negative growth in the three to four percent range."...
The chief executive of General Electric Co. said Friday that the company is cutting costs as it braces for a difficult 2009, The Wall Street Journal reported on its Web site. Jeff Immelt, in an interview at a conference at Columbia University in New York, said costs will be lower in 2009 than in 2008...
GE Will Cut Costs, Jobs, Immelt Says
General Electric Co. is cutting costs, preparing for a new wave of regulation from Washington and embracing manufacturing over financial services as ways out of the economic crisis, its chief executive said Friday. "Costs will be lower in 2009 than in 2008," Chairman and Chief Executive Officer Jeffrey Immelt said in an interview. "That will be true across the board." Employment will also be lower, he said, declining to name numbers or percentages....
GE cuts costs, prepares for more regulation
General Electric Co is cutting costs and preparing for a wave of regulation from Washington, the Wall Street Journal reported on Friday. Chairman and Chief Executive Jeffrey Immelt, speaking at a Columbia Business School social-enterprise conference, said costs and employment would be lower in 2009 across the board, the newspaper reported. Immelt did not give numbers or percentages, the report said....
GE’s Immelt Sees Shrinking Economy for 2-3 Quarters
The U.S. economy will have two or three quarters of “negative growth” once global financial systems stabilize, General Electric Co. Chief Executive Officer Jeffrey Immelt said.
“You might have a two- or three-quarter negative growth and then a slow pullout,” Immelt said during a Webcast presentation for students at New York University’s Stern School of Business. “You’ve got this financial crisis going on, behind which is recession.”...
GE Needs Fed Bailout To Finance Operations; Dividend At Risk
GE is struggling to get short term financing at a price it wants to pay. So what does GE do? The answer is twofold...
GE to Cut Costs, Jobs: Report
General Electric plans to cut costs next year as it confronts the global economic slowdown, according to a published media report...
A SUCCESS STORY: Virtual unknown GE Oil & Gas now a star
In 2001, General Electric Co’s oil and gas business had only a few dozen employees in Houston and was a virtual unknown in the oil patch. “Our primary goal was just to get people to know who we were,” said Mat Castaneda, general manager of North American sales for GE Oil & Gas....
GE's former CEO Welch says economy will improve in 2009
Former General Electric Co. Chief Executive Officer Jack Welch said the U.S. economy will start to improve in late 2009 after struggling for the next three quarters. "We are going to have some very tough times," Welch said on the ABC News "This Week" program. "The fourth quarter of this year could have negative growth in the three to four percent range."...
Thursday, October 23, 2008
Recent News: Battery-powered jobs, Haier, NBC Universal, Ecomagination, and Fed facility
GE stepping up push for battery-powered cars General Electric Co. is stepping up its investment in developing new battery technologies for autos as it looks to increase its role in electrifying cars -- one of the key strategies to boost fuel efficiency and reduce carbon dioxide emissions.....
China's Haier plays waiting game for GE unit
Haier, China's largest home appliance maker, plans not to bid for General Electric Co's appliances unit until it sees clear signs of a U.S. market recovery, said people with direct knowledge of the matter. A bid for GE's appliances business, which the U.S. giant put on the block in May, could be Haier's last opportunity to buy a household U.S. brand, part of its ambitions to reach global consumers rather than just Chinese....
NBC Universal Outlines 3% Budget Cut
NBC Universal is looking to shave $500 million from next year's budget, in a new sign that the broader economic crisis is likely to exact a stiff toll on the media sector. The General Electric Co. unit, which includes broadcast and cable-TV networks, local television stations and a movie studio, says the cuts will amount to 3% of its 2009 budget....
GE’s 2008 Ecomagination Revenues to Rise 21%, to $17 Billion
GE reports that, amidst global economic turbulence, revenues from its range of energy efficient and environmentally advantageous products and services will surge 21% to $17 billion in 2008, while GE’s annual investment in cleaner research and development will pass $1.4 billion....
GE plans to use Fed facility next week
General Electric Co. plans to use the Federal Reserve's new short-term funding facility when it is launched on Monday. The U.S. conglomerate and its finance arm, General Electric Capital Corp, have registered as users of the facility, the company told its commercial paper customers.....
China's Haier plays waiting game for GE unit
Haier, China's largest home appliance maker, plans not to bid for General Electric Co's appliances unit until it sees clear signs of a U.S. market recovery, said people with direct knowledge of the matter. A bid for GE's appliances business, which the U.S. giant put on the block in May, could be Haier's last opportunity to buy a household U.S. brand, part of its ambitions to reach global consumers rather than just Chinese....
NBC Universal Outlines 3% Budget Cut
NBC Universal is looking to shave $500 million from next year's budget, in a new sign that the broader economic crisis is likely to exact a stiff toll on the media sector. The General Electric Co. unit, which includes broadcast and cable-TV networks, local television stations and a movie studio, says the cuts will amount to 3% of its 2009 budget....
GE’s 2008 Ecomagination Revenues to Rise 21%, to $17 Billion
GE reports that, amidst global economic turbulence, revenues from its range of energy efficient and environmentally advantageous products and services will surge 21% to $17 billion in 2008, while GE’s annual investment in cleaner research and development will pass $1.4 billion....
GE plans to use Fed facility next week
General Electric Co. plans to use the Federal Reserve's new short-term funding facility when it is launched on Monday. The U.S. conglomerate and its finance arm, General Electric Capital Corp, have registered as users of the facility, the company told its commercial paper customers.....
Tuesday, October 21, 2008
Recent News: NBC Universal, Digital Cameras in Dubai, Clean Energy, Immelt Dismissal?, GE Medical, US Navy, and Stock Performance
NBC Universal to cut 3 percent of 2009 budget: report
NBC Universal, the broadcasting unit of General Electric Co, plans to cut $500 million from next year's budget, according to a report by The Wall Street Journal on Sunday....
General Electric’s Pundits and Legacy Not Enough to Force a Turnaround (GE)
General Electric has had its defenders continuously go on CNBC (of which GE is the parent company) to make its case to investors that things are getting better, and that a bottom is imminent. Now, even after a 1200 point rally off the Dow’s bottom, GE is still little more than $1 off its recent 52-week low. We’re certainly not rooting against GE, but the prospects of the stock making a comeback at this point in the year seem very slim....
Dubai Electronics Show Marks Official Launch of GE Digital Cameras in Middle East
General Imaging, the worldwide exclusive licensee for GE digital cameras, is continuing its global expansion with a strong move into the Middle East. General Imaging is exhibiting through its Middle East distributor at this week's GITEX Shopper & Consumer Electronics Expo in Dubai, United Arab Emirates. General Imaging's founder, CEO and Chairman Hiroshi "Hugh" Komiya, and Rene Buhay, Senior Vice President for Sales & Marketing, are taking part in a press event there on Tuesday. ...
Clean Energy Meltdown: Now GE’s Bailing
Meltdown watch, continued. Capital is quickly drying up for new clean-energy projects, and what is available costs more, throwing a wrench into companies’ plans to expand renewable energy.
General Electric is the latest to throw in the towel, after the abrupt departure of Lehman Brothers and Morgan Stanley. The conglomerate, which makes energy gear like wind and gas turbines as well as underwriting renewable-energy projects, says it is bailing out of the clean-tech investment game for now...
GE's Board of Directors Should Dismiss CEO Jeff Immelt, Says the Free Enterprise Action Fund (Ticker: FEAOX); Immelt's Failed Leadership Hurts Shareholders
The board of directors of the General Electric Company should immediately dismiss Chairman and CEO Jeff Immelt says Action Fund Management, the investment adviser to the Free Enterprise Action Fund (Ticker: FEAOX), a publicly-traded mutual fund. AFM urges GE's board to take immediate action because after years of failed leadership on the part of Immelt, the company is in disarray and its stock is in freefall....
GE Medical CEO talks about the company's business strategy
The key to effective early health monitoring is a strong front end in diagnostics and in molecular imaging -- an area where GE Healthcare has a strategy in place, GE Medical Diagnostics CEO John Chiminski said in an interview with BTM Exchange. The acquisition of U.K.-based firm Amersham, which specializes in radiopharmaceuticals, was crucial in implementing GE Medical Diagnostics' corporate strategy and paved the way for the company...
GE Marine power for LHA 6
GE Marine LM2500+ marine aeroderivative gas turbines have been selected by Northrop Grumman Shipbuilding (NGSB), Pascagoula, Miss., to power the United States Navy's new LHA 6 amphibious assault ship....
General Electric Further To Fall, Says Market Timer Frank Kollar
There are two possible scenarios for shares of General Electric (NYSE: GE). The first is that a bottom is in around $19.00 a share (closing price). The second is quite bearish. GE is now well below its 2002 bear market lows. Typically when a stock breaks below a long-term support level, it reaches the next support level before a new bottom can be made. The next support level is all the way down at $16.50, which is the 127.2% retracement of the entire 2002-2007 advance. ...
GE sees strength in environmental business
The credit crisis and weakening economy are not crimping General Electric Co.'s environmental business, the industrial and commercial conglomerate said Tuesday....
NBC Universal, the broadcasting unit of General Electric Co, plans to cut $500 million from next year's budget, according to a report by The Wall Street Journal on Sunday....
General Electric’s Pundits and Legacy Not Enough to Force a Turnaround (GE)
General Electric has had its defenders continuously go on CNBC (of which GE is the parent company) to make its case to investors that things are getting better, and that a bottom is imminent. Now, even after a 1200 point rally off the Dow’s bottom, GE is still little more than $1 off its recent 52-week low. We’re certainly not rooting against GE, but the prospects of the stock making a comeback at this point in the year seem very slim....
Dubai Electronics Show Marks Official Launch of GE Digital Cameras in Middle East
General Imaging, the worldwide exclusive licensee for GE digital cameras, is continuing its global expansion with a strong move into the Middle East. General Imaging is exhibiting through its Middle East distributor at this week's GITEX Shopper & Consumer Electronics Expo in Dubai, United Arab Emirates. General Imaging's founder, CEO and Chairman Hiroshi "Hugh" Komiya, and Rene Buhay, Senior Vice President for Sales & Marketing, are taking part in a press event there on Tuesday. ...
Clean Energy Meltdown: Now GE’s Bailing
Meltdown watch, continued. Capital is quickly drying up for new clean-energy projects, and what is available costs more, throwing a wrench into companies’ plans to expand renewable energy.
General Electric is the latest to throw in the towel, after the abrupt departure of Lehman Brothers and Morgan Stanley. The conglomerate, which makes energy gear like wind and gas turbines as well as underwriting renewable-energy projects, says it is bailing out of the clean-tech investment game for now...
GE's Board of Directors Should Dismiss CEO Jeff Immelt, Says the Free Enterprise Action Fund (Ticker: FEAOX); Immelt's Failed Leadership Hurts Shareholders
The board of directors of the General Electric Company should immediately dismiss Chairman and CEO Jeff Immelt says Action Fund Management, the investment adviser to the Free Enterprise Action Fund (Ticker: FEAOX), a publicly-traded mutual fund. AFM urges GE's board to take immediate action because after years of failed leadership on the part of Immelt, the company is in disarray and its stock is in freefall....
GE Medical CEO talks about the company's business strategy
The key to effective early health monitoring is a strong front end in diagnostics and in molecular imaging -- an area where GE Healthcare has a strategy in place, GE Medical Diagnostics CEO John Chiminski said in an interview with BTM Exchange. The acquisition of U.K.-based firm Amersham, which specializes in radiopharmaceuticals, was crucial in implementing GE Medical Diagnostics' corporate strategy and paved the way for the company...
GE Marine power for LHA 6
GE Marine LM2500+ marine aeroderivative gas turbines have been selected by Northrop Grumman Shipbuilding (NGSB), Pascagoula, Miss., to power the United States Navy's new LHA 6 amphibious assault ship....
General Electric Further To Fall, Says Market Timer Frank Kollar
There are two possible scenarios for shares of General Electric (NYSE: GE). The first is that a bottom is in around $19.00 a share (closing price). The second is quite bearish. GE is now well below its 2002 bear market lows. Typically when a stock breaks below a long-term support level, it reaches the next support level before a new bottom can be made. The next support level is all the way down at $16.50, which is the 127.2% retracement of the entire 2002-2007 advance. ...
GE sees strength in environmental business
The credit crisis and weakening economy are not crimping General Electric Co.'s environmental business, the industrial and commercial conglomerate said Tuesday....
Saturday, October 18, 2008
Recent News: GE Energy, Jenbacher Engine, China, GE Healthcare, and Spinoff on Hold
GE Energy announces opening of new Jenbacher gas engine packaging operation in China GE Energy, a business unit of General Electric Company (NYSE:GE), announced on Thursday (16 October) that the company's Jenbacher gas engine business, a manufacturer of gas-fuelled reciprocating engines, packaged generator sets and cogeneration systems for power generation, has opened a new regional engine packaging operation at GE's manufacturing centre in Hangzhou, in Zhejiang Province in southeast China....
How GE Healthcare Transformed Its Business Technology Strategy
Up until 2004, GE Medical (the name it was known by) primarily developed and manufactured medical devices, such as X-ray machines, and computerized tomography (CT) and magnetic resonance (MR) imaging devices. In the early 2000s, GE Medical developed a strategy to move beyond being a diagnostic imaging or a diagnostic systems provider, and toward becoming a healthcare company. Specifically, the strategy looked at early health, focusing on early diagnosis, intervention, and prevention. Their $6 billion acquisition of Amersham, a UK-based company, became key to GE Medical's strategy. Amersham was a global leader in life sciences and diagnostic imaging agents, which medical scanners use to highlight specific body parts for diseases....
Economic Crisis Puts GE Spinoff on Hold
If any benefit comes from the economic crisis, Decatur's General Electric employees may be the ones to experience it. In its earnings call for the third quarter, GE Chief Executive Jeff Immelt said the sale or spinoff of the appliances division, which includes the Decatur plant, is on hold....
How GE Healthcare Transformed Its Business Technology Strategy
Up until 2004, GE Medical (the name it was known by) primarily developed and manufactured medical devices, such as X-ray machines, and computerized tomography (CT) and magnetic resonance (MR) imaging devices. In the early 2000s, GE Medical developed a strategy to move beyond being a diagnostic imaging or a diagnostic systems provider, and toward becoming a healthcare company. Specifically, the strategy looked at early health, focusing on early diagnosis, intervention, and prevention. Their $6 billion acquisition of Amersham, a UK-based company, became key to GE Medical's strategy. Amersham was a global leader in life sciences and diagnostic imaging agents, which medical scanners use to highlight specific body parts for diseases....
Economic Crisis Puts GE Spinoff on Hold
If any benefit comes from the economic crisis, Decatur's General Electric employees may be the ones to experience it. In its earnings call for the third quarter, GE Chief Executive Jeff Immelt said the sale or spinoff of the appliances division, which includes the Decatur plant, is on hold....
Friday, October 17, 2008
Recent News: Steel Mill Financing, Commercial Paper Subsidies, Commercial Properties, Locomotives in Kazakhstan, China, and Jim Cramer - Warren Buffet
GE unit increases steel mill financing by $100M
GE Commercial Finance Corporate Lending, a unit of General Electric Co., announced Wednesday it will increase its financing of a Mississippi steel mill by $100 million...
Fed Offers GE, Citigroup Commercial Paper Subsidies
The Federal Reserve may subsidize U.S. companies by buying their short-term debt at rates below those demanded by private investors in the $1.6 trillion commercial-paper market. Fed officials yesterday set the yield they will pay for commercial paper at about 1.1 percentage points less than the average cost for financial companies, weekly central bank data show. Policy makers last week announced emergency plans to buy the securities after the market shrank to a three-year low...
GE's 'Honey Pot' Properties Turn Sour
When the real-estate market was booming, General Electric Co.'s commercial-property business earned the nickname "the honey pot" among insiders because the company could increase earnings simply by selling a building or two. But now, the opposite is true: GE's difficulty selling its office buildings, shopping centers and other commercial property is dragging down its financial results....
GE plans to build trains in Kazakhstan
The Kazakh venture of General Electric Co. plans to produce as many as 200 locomotives a year starting in 2011. GE, the world's largest maker of locomotives, and AO Kazakhstan Temir Zholy National Co., the country's state-owned rail company, plan to produce up to 100 train engines a year starting in 2009 at a new $750 million plant in the capital Astana, Temir Zholy said Tuesday....
GE private equity arm holding off on new China buys
A private equity unit of General Electric said on Thursday that it would focus on its existing investment portfolio in China rather than investing in new projects over the next 2-3 years amid poor market conditions. Zhu Wenqian, head of private equity and business development, Greater China at GE Commercial Finance, said asset managers and investors would have to prepare for "a sustained war" before the markets start to recover....
Crisis stresses in-house lending of U.S. companies
Increasing signs of stress at the finance arm of General Electric Co has triggered some concerns about other companies with in-house lending units and their ability to weather the financial crisis....
Cramer: Sure, Buffett Can Afford to Buy Here
Great to see Warren Buffett buying here. Fabulous. He has a lot of firepower. He is right to buy American. And I want to go with him, except, he's been buying for awhile, and, more important, he can be down 20% to 30% and it doesn't matter...
GE Commercial Finance Corporate Lending, a unit of General Electric Co., announced Wednesday it will increase its financing of a Mississippi steel mill by $100 million...
Fed Offers GE, Citigroup Commercial Paper Subsidies
The Federal Reserve may subsidize U.S. companies by buying their short-term debt at rates below those demanded by private investors in the $1.6 trillion commercial-paper market. Fed officials yesterday set the yield they will pay for commercial paper at about 1.1 percentage points less than the average cost for financial companies, weekly central bank data show. Policy makers last week announced emergency plans to buy the securities after the market shrank to a three-year low...
GE's 'Honey Pot' Properties Turn Sour
When the real-estate market was booming, General Electric Co.'s commercial-property business earned the nickname "the honey pot" among insiders because the company could increase earnings simply by selling a building or two. But now, the opposite is true: GE's difficulty selling its office buildings, shopping centers and other commercial property is dragging down its financial results....
GE plans to build trains in Kazakhstan
The Kazakh venture of General Electric Co. plans to produce as many as 200 locomotives a year starting in 2011. GE, the world's largest maker of locomotives, and AO Kazakhstan Temir Zholy National Co., the country's state-owned rail company, plan to produce up to 100 train engines a year starting in 2009 at a new $750 million plant in the capital Astana, Temir Zholy said Tuesday....
GE private equity arm holding off on new China buys
A private equity unit of General Electric said on Thursday that it would focus on its existing investment portfolio in China rather than investing in new projects over the next 2-3 years amid poor market conditions. Zhu Wenqian, head of private equity and business development, Greater China at GE Commercial Finance, said asset managers and investors would have to prepare for "a sustained war" before the markets start to recover....
Crisis stresses in-house lending of U.S. companies
Increasing signs of stress at the finance arm of General Electric Co has triggered some concerns about other companies with in-house lending units and their ability to weather the financial crisis....
Cramer: Sure, Buffett Can Afford to Buy Here
Great to see Warren Buffett buying here. Fabulous. He has a lot of firepower. He is right to buy American. And I want to go with him, except, he's been buying for awhile, and, more important, he can be down 20% to 30% and it doesn't matter...
Wednesday, October 15, 2008
Recent News: Stock Performance, Commercial Paper Demand, Green Energy Policy, and Solar Panels
GE shares decline for 2nd consecutive day
Shares of General Electric Co. declined Tuesday for the second consecutive day as the Dow Jones industrial average continued to advance. An analyst on Monday reduced his earnings estimate, saying the conglomerate's profits are uncertain. Robert T. Cornell of Barclays (nyse: BCS - news - people ) Capital lowered his fourth-quarter earnings per share estimate to 52 cents from 55 cents and cut his 2009 earnings per share estimate to $1.75 from $1.80.
Demand for Some Commercial Paper Jumps
After being severely constricted for weeks, the commercial paper market showed tentative signs of recovery on Tuesday after global leaders aimed a number of initiatives at stabilizing financial markets. On Tuesday, the U.S. government said it would inject $250 billion into ailing banks and guarantee bank debt for up to three years, and it unveiled details on a program specifically targeted at the commercial paper market....
At HBS, GE's Immelt, Other Big Shots Demand Greener Energy Policy
My colleague, Cathy Arnst, is up at a Harvard B-school confab this week and sent in the following snapshot. Big business leaders are clamoring for strong green investment policies from the next administration. In Cathy’s words: GE CEO Jeffrey Immelt came out of the managed economy closet this morning. In front of some 1,600 business people at Harvard Business School (HBS), the citadel of capitalism, he had this to say about federal government investment in environmental technologies in order to create jobs...
CORRECTED - GE, Convexa fund solar panel maker Soliant
GE Energy Financial Services, announced on Tuesday it has added $2.5 million, part of a venture capital round that funded nearly $21 million for concentrator solar panel manufacturer Soliant Energy. Leading the round of investors was Convexa Capital....
Shares of General Electric Co. declined Tuesday for the second consecutive day as the Dow Jones industrial average continued to advance. An analyst on Monday reduced his earnings estimate, saying the conglomerate's profits are uncertain. Robert T. Cornell of Barclays (nyse: BCS - news - people ) Capital lowered his fourth-quarter earnings per share estimate to 52 cents from 55 cents and cut his 2009 earnings per share estimate to $1.75 from $1.80.
Demand for Some Commercial Paper Jumps
After being severely constricted for weeks, the commercial paper market showed tentative signs of recovery on Tuesday after global leaders aimed a number of initiatives at stabilizing financial markets. On Tuesday, the U.S. government said it would inject $250 billion into ailing banks and guarantee bank debt for up to three years, and it unveiled details on a program specifically targeted at the commercial paper market....
At HBS, GE's Immelt, Other Big Shots Demand Greener Energy Policy
My colleague, Cathy Arnst, is up at a Harvard B-school confab this week and sent in the following snapshot. Big business leaders are clamoring for strong green investment policies from the next administration. In Cathy’s words: GE CEO Jeffrey Immelt came out of the managed economy closet this morning. In front of some 1,600 business people at Harvard Business School (HBS), the citadel of capitalism, he had this to say about federal government investment in environmental technologies in order to create jobs...
CORRECTED - GE, Convexa fund solar panel maker Soliant
GE Energy Financial Services, announced on Tuesday it has added $2.5 million, part of a venture capital round that funded nearly $21 million for concentrator solar panel manufacturer Soliant Energy. Leading the round of investors was Convexa Capital....
Tuesday, October 14, 2008
Recent News: Fed Cash, Buy Rating, Dow Rally, Immelt on Leadership, and GE buying in India
GE Eschews - Or Does It Seek? - Access To Fed Cash
How can you tell when General Electric is prevaricating about the status of its capital position? Answer: when you can see its CFO’s lips moving. On Friday, the conglomerate’s finance chief admitted the company had reviewed the way the Federal Reserve was conducting its purchase of commercial paper. Then quickly insisted that GE was capable of completely funding itself, and would have no need to seek recourse to a government buyer-of-last-resort funding instument...
General Electric "buy," target price reduced
Analyst Stephen A O’Neil of Hilliard Lyons maintains his "buy" rating on General Electric Co (GE), while reducing his estimates for the company. The target price has been reduced from $30 to $25....
General Electric (GE) Not Participating In Today's Rally
For some reason General Electric is not participating in today's 600 point rally. Shares of GE are down 4% today to $20.63. GE did rise 13% on Friday, so it could have something to do with that....
GE’s Jeff Immelt on leadership renewal
Former Harvard MBA Jeff Immelt just delighted a packed conference hall (actually a big tent) with his observations about the need for leaders to renew themselves. “You’ve got to be able to do this,” he said. “Leadership is really a journey into yourself. I take every criticism personally, I think about them, and I go to bed at night thinking: ‘Oh God, what a failure I am.’ And then I wake up in the morning and I say: ‘Hello, handsome!’ ”...
What Credit Crunch? GE wants to buy in India
Even as the financial world seems to be crumbling and General Electric’s profits are headed south, the company may be looking for acquisitions in India. The other day my colleague Mehul Srivastava and I met with GE India boss Tejpreet Chopra. He sketched out an ambitious plan to boost the company’s revenues in the country to $8 billion by 2010 or 2011, from $2.6 billion today. “There will be some element of acquisitions in meeting our (sales) targets,” Chopra said...
How can you tell when General Electric is prevaricating about the status of its capital position? Answer: when you can see its CFO’s lips moving. On Friday, the conglomerate’s finance chief admitted the company had reviewed the way the Federal Reserve was conducting its purchase of commercial paper. Then quickly insisted that GE was capable of completely funding itself, and would have no need to seek recourse to a government buyer-of-last-resort funding instument...
General Electric "buy," target price reduced
Analyst Stephen A O’Neil of Hilliard Lyons maintains his "buy" rating on General Electric Co (GE), while reducing his estimates for the company. The target price has been reduced from $30 to $25....
General Electric (GE) Not Participating In Today's Rally
For some reason General Electric is not participating in today's 600 point rally. Shares of GE are down 4% today to $20.63. GE did rise 13% on Friday, so it could have something to do with that....
GE’s Jeff Immelt on leadership renewal
Former Harvard MBA Jeff Immelt just delighted a packed conference hall (actually a big tent) with his observations about the need for leaders to renew themselves. “You’ve got to be able to do this,” he said. “Leadership is really a journey into yourself. I take every criticism personally, I think about them, and I go to bed at night thinking: ‘Oh God, what a failure I am.’ And then I wake up in the morning and I say: ‘Hello, handsome!’ ”...
What Credit Crunch? GE wants to buy in India
Even as the financial world seems to be crumbling and General Electric’s profits are headed south, the company may be looking for acquisitions in India. The other day my colleague Mehul Srivastava and I met with GE India boss Tejpreet Chopra. He sketched out an ambitious plan to boost the company’s revenues in the country to $8 billion by 2010 or 2011, from $2.6 billion today. “There will be some element of acquisitions in meeting our (sales) targets,” Chopra said...
Monday, October 13, 2008
Recent News: NBC Olympics, Earnings, Stock Performance, Finance Arm, and Warren Buffett
NBC loses money on Beijing Olympics
NBC Universal lost money on the Beijing Olympics, executives of parent company General Electric said Friday....
GE’s Quality of Earnings Problems
General Electric, a bellwether stock for the US economy, reported a 12% drop in third quarter earnings, as the credit crisis continues to hammer its finance unit, GE Capital, a big profit driver for the industrial conglomerate. On closer examination, GE’s earnings report has a number quality of earnings issues. Investors should sit up and take notice of the danger zones...
GE Rises Most Since 1980 as Profit Meets Estimates
General Electric Co. rose 13 percent in New York trading, the most in at least 28 years, after its third-quarter profit matched analysts' estimates during the worst U.S. financial crisis since the Great Depression. Profit from continuing operations fell 12 percent to $4.48 billion, or 45 cents a share, from $5.11 billion, or 50 cents, a year earlier. Sales rose 11 percent to $47.2 billion, the Fairfield, Connecticut-based company said today. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 forecast...
GE profit battered by finance arm
General Electric profit declined for a third straight quarter because of lower earnings at its finance arm during the ongoing financial crisis. Profit from continuing operations fell 12% to $US4.48 billion ($6.9 billion), or 45 cents a share, from $US5.11 billion, or 50 cents, a year earlier, matching analysts' average estimate. Sales rose 11% to $US47.2 billion, the Fairfield, Connecticut-based company said Friday. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 profit forecast....
GE's Financial Dead Arm
General Electric reported its earnings Friday, and the results were unsurprising. They met Wall Street's expectations and were defined by weakness in its financial arm, which has been hit by problems globally and in the credit markets. GE's profit dropped 23.2% to $4.3 billion, or 43 cents per share, from $5.6 billion, or 54 cents per share, reported in last year's corresponding quarter. The results were just short of Wall Street's expected 45 cents per share....
Investing Like Buffett
IF this were the 1930s, we might go to the movies and see a gaudy, escapist musical to feel better again. Instead, let’s pretend we’re Warren Buffett...
Bad News Is Good News For GE
General Electric had primed the market for a crummy third-quarter earnings report, so investors weren't too surprised when one came on Friday. There was some unexpected good news from its media division, but the cloud inside that silver lining was that the better-than-expected results were a direct reflection of the direr-than-expected global economy....
GE makes a profit, but it's lower
General Electric Co.’s third-quarter net income fell by 22 percent amid a decrease in earnings in its GE Capital financial services unit, which has been affected by the ongoing credit crunch.
Fairfield, Conn.-based GE (NYSE: GE) today reported that net income declined to $4.3 billion, or 43 cents a share, compared with $5.6 billion, or 54 cents per share, in the same quarter a year earlier...
What Does Warren Buffett See in General Electric?
By all accounts, the legendary investor has entered less-than-familiar territory. General Electric (GE) and Goldman Sachs (GS) will most certainly determine whether Mr. Buffett's unique ability to pick business models with substantial inherent upside is still intact or whether the dramatic changes in the global economy are forcing him to fish in troubled waters. GE's Keith Sherin has just announced a worldwide upgrading of lending standards. But he did not clarify two important and related issues. Will this upgrading, or tightening, of GE's portfolio be founded in a revaluation of the assets which triggered the loans in the first place? And, if so, how will the almost-certain degradation of such assets impact upon GE's AAA rating?...
NBC Universal lost money on the Beijing Olympics, executives of parent company General Electric said Friday....
GE’s Quality of Earnings Problems
General Electric, a bellwether stock for the US economy, reported a 12% drop in third quarter earnings, as the credit crisis continues to hammer its finance unit, GE Capital, a big profit driver for the industrial conglomerate. On closer examination, GE’s earnings report has a number quality of earnings issues. Investors should sit up and take notice of the danger zones...
GE Rises Most Since 1980 as Profit Meets Estimates
General Electric Co. rose 13 percent in New York trading, the most in at least 28 years, after its third-quarter profit matched analysts' estimates during the worst U.S. financial crisis since the Great Depression. Profit from continuing operations fell 12 percent to $4.48 billion, or 45 cents a share, from $5.11 billion, or 50 cents, a year earlier. Sales rose 11 percent to $47.2 billion, the Fairfield, Connecticut-based company said today. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 forecast...
GE profit battered by finance arm
General Electric profit declined for a third straight quarter because of lower earnings at its finance arm during the ongoing financial crisis. Profit from continuing operations fell 12% to $US4.48 billion ($6.9 billion), or 45 cents a share, from $US5.11 billion, or 50 cents, a year earlier, matching analysts' average estimate. Sales rose 11% to $US47.2 billion, the Fairfield, Connecticut-based company said Friday. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 profit forecast....
GE's Financial Dead Arm
General Electric reported its earnings Friday, and the results were unsurprising. They met Wall Street's expectations and were defined by weakness in its financial arm, which has been hit by problems globally and in the credit markets. GE's profit dropped 23.2% to $4.3 billion, or 43 cents per share, from $5.6 billion, or 54 cents per share, reported in last year's corresponding quarter. The results were just short of Wall Street's expected 45 cents per share....
Investing Like Buffett
IF this were the 1930s, we might go to the movies and see a gaudy, escapist musical to feel better again. Instead, let’s pretend we’re Warren Buffett...
Bad News Is Good News For GE
General Electric had primed the market for a crummy third-quarter earnings report, so investors weren't too surprised when one came on Friday. There was some unexpected good news from its media division, but the cloud inside that silver lining was that the better-than-expected results were a direct reflection of the direr-than-expected global economy....
GE makes a profit, but it's lower
General Electric Co.’s third-quarter net income fell by 22 percent amid a decrease in earnings in its GE Capital financial services unit, which has been affected by the ongoing credit crunch.
Fairfield, Conn.-based GE (NYSE: GE) today reported that net income declined to $4.3 billion, or 43 cents a share, compared with $5.6 billion, or 54 cents per share, in the same quarter a year earlier...
What Does Warren Buffett See in General Electric?
By all accounts, the legendary investor has entered less-than-familiar territory. General Electric (GE) and Goldman Sachs (GS) will most certainly determine whether Mr. Buffett's unique ability to pick business models with substantial inherent upside is still intact or whether the dramatic changes in the global economy are forcing him to fish in troubled waters. GE's Keith Sherin has just announced a worldwide upgrading of lending standards. But he did not clarify two important and related issues. Will this upgrading, or tightening, of GE's portfolio be founded in a revaluation of the assets which triggered the loans in the first place? And, if so, how will the almost-certain degradation of such assets impact upon GE's AAA rating?...
Seeking Alpha: General Electric Company Q3 2008 Earnings Call Transcript
Operator:
Welcome to the General Electric third quarter 2008 earnings conference call. (Operator Instructions) I would now like to turn the program over to your host for today’s conference Trevor Schauenberg, VP of Investor Communications.
Trevor Schauenberg:
Joanna Morse and I are pleased to host today’s call. Hopefully you have the press release from earlier this morning and the slides we’ll be walking through are available on our website at www.GE.com. If you don’t see it please refresh, you can download or print to follow along. As always elements of this presentation are forward looking and are based on our best view of the world and our businesses as we see them today. Those elements can change as the world changes. Please interpret them in that light.
We will be reviewing the GE press release that went out earlier today and have time for Q&A at the end. For today’s webcast we have our Chairman and CEO, Jeff Immelt, and our Vice Chairman and CFO, Keith Sherin.
Now I’d like to turn it over to our Chairman and CEO, Jeff Immelt.
Jeff Immelt:
On the overview page clearly to everyone the environment remains very volatile. The global financial system is tough. We see consumer confidence falling, unemployment up again last week but we still see pockets...
Read Entire Transcript at Seeking Alpha
Welcome to the General Electric third quarter 2008 earnings conference call. (Operator Instructions) I would now like to turn the program over to your host for today’s conference Trevor Schauenberg, VP of Investor Communications.
Trevor Schauenberg:
Joanna Morse and I are pleased to host today’s call. Hopefully you have the press release from earlier this morning and the slides we’ll be walking through are available on our website at www.GE.com. If you don’t see it please refresh, you can download or print to follow along. As always elements of this presentation are forward looking and are based on our best view of the world and our businesses as we see them today. Those elements can change as the world changes. Please interpret them in that light.
We will be reviewing the GE press release that went out earlier today and have time for Q&A at the end. For today’s webcast we have our Chairman and CEO, Jeff Immelt, and our Vice Chairman and CFO, Keith Sherin.
Now I’d like to turn it over to our Chairman and CEO, Jeff Immelt.
Jeff Immelt:
On the overview page clearly to everyone the environment remains very volatile. The global financial system is tough. We see consumer confidence falling, unemployment up again last week but we still see pockets...
Read Entire Transcript at Seeking Alpha
Thursday, October 9, 2008
Recent News: GE Aviation - NASA, Stock Performance, Earnings Preview, and Technical Analysis
GE Aviation team wins NASA research contract GE Aviation's team is one of several aeronautical companies sharing $12.4 million in NASA study contracts to research future aircraft designs. Under phase one of the program, the teams will each receive about $2 million to conduct 18-month studies, according to a United Press International story. They will be studying advanced concepts in fuel efficiency, among other things...
Foolish Forecast: You Can't Go Wrong With GE
General Electric (NYSE: GE) is heading into its third-quarter earnings report in a very unusual position. Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) guru Warren Buffett just stepped in with a multibillion-dollar investment in the beaten-down giant. Is that enough to turn the tide of woe, or will Tina Fey have to save the day?...
Earnings Preview: General Electric
General Electric (GE) is expected to report Q3 earnings before market open Friday, Oct. 10, with a conference call scheduled for 8:30 am ET. Analysts are looking for EPS of 45c on revenue of $47.71B. There is a tight consensus range of 44c to 45c for EPS, and $45.5B to $48.9B for revenue, according to First Call. The company gave guidance when it reported its Q2 results in July expecting Q3 EPS 50c to 54c vs. consensus of 54c, and FY08 EPS $2.20 to $2.30 vs. consensus of $2.22. However, on September 25, due to the "unprecedented weakness" in the financial service markets the company lowered is Q3 and FY08 EPS guidance. General Electric now expects Q3 EPS of 43c to 48c, and FY08 EPS of $1.95 to $2.10...
Technical Analysis for General Electric
The technical indicators for GE are almost resoundingly bearish, but not completely. There is a glimmer of light, albeit faint, in the chart patterns for GE. General Electric is the grand-daddy of them all, and an excellent barometer of economic and market conditions. The recent concerns offered by GE's management relating to the current depressionary environment have raised many eyebrows, and they have exponentialized the importance of the commentary associated with the earnings release scheduled for Friday. Arguably, cases can be made for fundamental investments in GE...
Can GE Earnings Rescue the Market?
We are set for earnings out of General Electric Co. (NYSE: GE) early Friday morning. If you have been watching the tape and if you have been paying attention to the economic data, it is impossible to expect and solid earnings from the world's largest conglomerate. There are also more things to consider here than just the earnings as GE reflects much of the global economy....
Wall Street crisis hits GE
All eyes will be on GE on Friday when the massive conglomerate and market bellwether reveals earnings that have been hard-hit by recent turmoil in the financial markets...
Foolish Forecast: You Can't Go Wrong With GE
General Electric (NYSE: GE) is heading into its third-quarter earnings report in a very unusual position. Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) guru Warren Buffett just stepped in with a multibillion-dollar investment in the beaten-down giant. Is that enough to turn the tide of woe, or will Tina Fey have to save the day?...
Earnings Preview: General Electric
General Electric (GE) is expected to report Q3 earnings before market open Friday, Oct. 10, with a conference call scheduled for 8:30 am ET. Analysts are looking for EPS of 45c on revenue of $47.71B. There is a tight consensus range of 44c to 45c for EPS, and $45.5B to $48.9B for revenue, according to First Call. The company gave guidance when it reported its Q2 results in July expecting Q3 EPS 50c to 54c vs. consensus of 54c, and FY08 EPS $2.20 to $2.30 vs. consensus of $2.22. However, on September 25, due to the "unprecedented weakness" in the financial service markets the company lowered is Q3 and FY08 EPS guidance. General Electric now expects Q3 EPS of 43c to 48c, and FY08 EPS of $1.95 to $2.10...
Technical Analysis for General Electric
The technical indicators for GE are almost resoundingly bearish, but not completely. There is a glimmer of light, albeit faint, in the chart patterns for GE. General Electric is the grand-daddy of them all, and an excellent barometer of economic and market conditions. The recent concerns offered by GE's management relating to the current depressionary environment have raised many eyebrows, and they have exponentialized the importance of the commentary associated with the earnings release scheduled for Friday. Arguably, cases can be made for fundamental investments in GE...
Can GE Earnings Rescue the Market?
We are set for earnings out of General Electric Co. (NYSE: GE) early Friday morning. If you have been watching the tape and if you have been paying attention to the economic data, it is impossible to expect and solid earnings from the world's largest conglomerate. There are also more things to consider here than just the earnings as GE reflects much of the global economy....
Wall Street crisis hits GE
All eyes will be on GE on Friday when the massive conglomerate and market bellwether reveals earnings that have been hard-hit by recent turmoil in the financial markets...
Wednesday, October 8, 2008
Recent News: Stock Performance, Dividend Cut?, Warren Buffet, and Berkshire Hathaway
General Electric (GE) Lower Again On Fears
After trading higher earlier, General Electric Co. is lower again. The stock is trading at $20.63, down 3.5%. The 52-week low is $19.69. GE recently had that large stock offering at $22.25, which is now underwater....
General Electric May be Next to Cut its Dividend (GE)
General Electric (GE) has said it would like to continue paying out its current dividend, but questions abound as to whether that will be possible, given the company’s capital concerns...
GE shares recover after plunging to 11-year low
Shares of General Electric Co. staged a recovery Tuesday after plunging to their lowest price in more than 11 years. The industrial and commercial conglomerate's stock price advanced 59 cents, or 2.8 percent, to $21.97 in midday trading. A day earlier, the stock tumbled as low as $19.69 before rebounding to finish at $21.38. Monday's session was traumatic for the broader market, as the Dow Jones Industrial Average - of which GE is a component - dived as much as 800 points, dipping below 10,000 for the first time in four years...
Why I’m buying
The market is in free fall. Friends are calling and emailing in a panic. My response: I’m buying. Investors today seem as fearful as they’ve been since, perhaps, the Great Depression. And as Warren Buffett once famously said: “Be fearful when others are greedy, and greedy when others are fearful.”..
Warren Buffett's Celebrity-Style Endorsements of GE & Goldman Aren't Helping the Stocks ... Yet
Warren Buffett's celebrity-style endorsements of General Electric and Goldman Sachs haven't paid off in higher stock prices for the two companies -- at least not yet.Buffett's words of praise for GE and Goldman were featured prominently in the announcements of Berkshire Hathaway's $5 billion investment in Goldman on September 23 and its $3 billion injection into General Electric on October 1...
Buffett Buys GE, Goldman: Should You Follow?
While I was sitting at my desk on Wednesday, I heard Chris Rowe marvel, “Warren Buffett is such a stud.” Now, Chris does have a slight man-crush on Warren, but he’s also happily married with baby number two on the way. So I figured that Buffett must have just pulled off a major coup....
After trading higher earlier, General Electric Co. is lower again. The stock is trading at $20.63, down 3.5%. The 52-week low is $19.69. GE recently had that large stock offering at $22.25, which is now underwater....
General Electric May be Next to Cut its Dividend (GE)
General Electric (GE) has said it would like to continue paying out its current dividend, but questions abound as to whether that will be possible, given the company’s capital concerns...
GE shares recover after plunging to 11-year low
Shares of General Electric Co. staged a recovery Tuesday after plunging to their lowest price in more than 11 years. The industrial and commercial conglomerate's stock price advanced 59 cents, or 2.8 percent, to $21.97 in midday trading. A day earlier, the stock tumbled as low as $19.69 before rebounding to finish at $21.38. Monday's session was traumatic for the broader market, as the Dow Jones Industrial Average - of which GE is a component - dived as much as 800 points, dipping below 10,000 for the first time in four years...
Why I’m buying
The market is in free fall. Friends are calling and emailing in a panic. My response: I’m buying. Investors today seem as fearful as they’ve been since, perhaps, the Great Depression. And as Warren Buffett once famously said: “Be fearful when others are greedy, and greedy when others are fearful.”..
Warren Buffett's Celebrity-Style Endorsements of GE & Goldman Aren't Helping the Stocks ... Yet
Warren Buffett's celebrity-style endorsements of General Electric and Goldman Sachs haven't paid off in higher stock prices for the two companies -- at least not yet.Buffett's words of praise for GE and Goldman were featured prominently in the announcements of Berkshire Hathaway's $5 billion investment in Goldman on September 23 and its $3 billion injection into General Electric on October 1...
Buffett Buys GE, Goldman: Should You Follow?
While I was sitting at my desk on Wednesday, I heard Chris Rowe marvel, “Warren Buffett is such a stud.” Now, Chris does have a slight man-crush on Warren, but he’s also happily married with baby number two on the way. So I figured that Buffett must have just pulled off a major coup....
Recent News: Tina Fey, GE Aviation new CEO Lorraine Bolsinger, Stock Performance, Warren Buffet, and Wind
Watch Tina Fey Save General Electric
In her hilarious 30 Rock sitcom, Tina Fey skewers the network politics of NBC. Ironically enough, she may be (almost singlehandedly) saving the broadcaster, too. The season premiere of 30 Rock is still several weeks away, but Fey is already giving NBC a huge ratings boost with her spot-on Sarah Palin impersonations on Saturday Night Live...
General Electric names Lorraine Bolsinger CEO of GE Aviation systems - Update
Monday, General Electric Co., announced the appointment of Lorraine Bolsinger as President and Chief executive officer of GE Aviation systems, LLC. The company also named Steve Fludder as head of ecomagination, succeeding Bolsinger...
Let's See If GE Cuts It
Of course, it'll be tough to match the newsworthiness of Warren Buffett and Berkshire Hathaway's (NYSE: BRK-A) (NYSE: BRK-B) injection of $3 billion into General Electric in exchange for perpetual preferred stock. That deal followed hard behind a similar Buffett investment of $5 billion into Goldman Sachs (NYSE: GS). But what induced Warren's GE purchase? What is it about the company that he finds especially attractive -- other than GE shares' nearly 50% plunge from their 52-week high? One silver lining: Several of GE's areas are at or near the top of their respective lines of business, including...
Shares of GE fall to 11-year low
Shares of General Electric Co. hovered at around $20 Monday, the lowest point in more than 11 years as a sell-off pulled down broader markets. The share price of the industrial and commercial conglomerate, a bellwether of the U.S. economy, has slid steadily since the financial crisis hit Wall Street last month. On Sept. 25, GE cut its earnings forecast for the year, blaming volatile financial markets damaging the profitability of its loan and lease business that accounts for almost half its income....
Worrying New Disclosures From GE
Last Wednesday, the same day General Electric announced that Warren Buffett’s Berkshire Hathaway planned to invest $3 bn in the conglomerate and that it planned a new $12 bn stock offering, GE shot a little noticed filing over to the Securities and Exchange Commission that gave fresh detail on the unhealthy state of the company....
Shares of GE fall to 11-year low
Shares of General Electric Co. hovered at around $20 Monday, the lowest point in more than 11 years as a sell-off pulled down broader markets. The share price of the industrial and commercial conglomerate, a bellwether of the U.S. economy, dropped sharply in April after GE widely missed its earnings target for the first quarter. It continued its slide last month as investors fled most financial companies....
Commodities Continue Slide; GE Trips South Of $20
General Electric is generally regarded, for better or worse, as a bellwether for the global economy. Not an auspicious moniker to have, when the global economy seemed to be tettering on the brink of recession, something GE tacitly admitted last month when it warned that its quarter wasn’t going to live up to forecasts. Last week’s decision to raise $12 billion...
Buffett Buys GE, Goldman. Should You?
While I was sitting at my desk on Wednesday, I heard Chris Rowe marvel, “Warren Buffett is such a stud.” Now, Chris does have a slight man-crush on Warren, but he’s also happily married with baby number two on the way. So I figured that Buffett must have just pulled off a major coup. Sure enough, I looked at the news and saw that Buffett’s Berkshire Hathaway (BRK.A) had invested $3 billion in General Electric (GE) preferred stock carrying a 10% dividend. Buffett also secured the option of picking up another $3 billion worth of GE common stock at $22.25 a share over the next five years. GE stock closed at $24.50 on Oct. 1. For average Joe investor, GE’s dividend yield is around 5%. ...
GE bullish over wind forecast
Given that Germany has the highest installed wind capacity in the world at about 23,000MW, it is not surprising to learn that US engineering giant GE Power's main renewables facility is sited in the country. Located in Salzbergen, close to the border with the Netherlands, and capable of producing 1,600 wind turbines a year, the facility is GE's so-called centre of excellence for wind energy. While GE is obviously proud of the facility and the investment it has put into it, the site has a rather dubious heritage, having been acquired in a bankruptcy sale following the spectacular collapse of power industry pariah Enron in 2002. However, according to GE Power's vice president of renewables, Victor Abate, the company has made significant improvements to the Salzbergen factory and the wider wind business it acquired....
In her hilarious 30 Rock sitcom, Tina Fey skewers the network politics of NBC. Ironically enough, she may be (almost singlehandedly) saving the broadcaster, too. The season premiere of 30 Rock is still several weeks away, but Fey is already giving NBC a huge ratings boost with her spot-on Sarah Palin impersonations on Saturday Night Live...
General Electric names Lorraine Bolsinger CEO of GE Aviation systems - Update
Monday, General Electric Co., announced the appointment of Lorraine Bolsinger as President and Chief executive officer of GE Aviation systems, LLC. The company also named Steve Fludder as head of ecomagination, succeeding Bolsinger...
Let's See If GE Cuts It
Of course, it'll be tough to match the newsworthiness of Warren Buffett and Berkshire Hathaway's (NYSE: BRK-A) (NYSE: BRK-B) injection of $3 billion into General Electric in exchange for perpetual preferred stock. That deal followed hard behind a similar Buffett investment of $5 billion into Goldman Sachs (NYSE: GS). But what induced Warren's GE purchase? What is it about the company that he finds especially attractive -- other than GE shares' nearly 50% plunge from their 52-week high? One silver lining: Several of GE's areas are at or near the top of their respective lines of business, including...
Shares of GE fall to 11-year low
Shares of General Electric Co. hovered at around $20 Monday, the lowest point in more than 11 years as a sell-off pulled down broader markets. The share price of the industrial and commercial conglomerate, a bellwether of the U.S. economy, has slid steadily since the financial crisis hit Wall Street last month. On Sept. 25, GE cut its earnings forecast for the year, blaming volatile financial markets damaging the profitability of its loan and lease business that accounts for almost half its income....
Worrying New Disclosures From GE
Last Wednesday, the same day General Electric announced that Warren Buffett’s Berkshire Hathaway planned to invest $3 bn in the conglomerate and that it planned a new $12 bn stock offering, GE shot a little noticed filing over to the Securities and Exchange Commission that gave fresh detail on the unhealthy state of the company....
Shares of GE fall to 11-year low
Shares of General Electric Co. hovered at around $20 Monday, the lowest point in more than 11 years as a sell-off pulled down broader markets. The share price of the industrial and commercial conglomerate, a bellwether of the U.S. economy, dropped sharply in April after GE widely missed its earnings target for the first quarter. It continued its slide last month as investors fled most financial companies....
Commodities Continue Slide; GE Trips South Of $20
General Electric is generally regarded, for better or worse, as a bellwether for the global economy. Not an auspicious moniker to have, when the global economy seemed to be tettering on the brink of recession, something GE tacitly admitted last month when it warned that its quarter wasn’t going to live up to forecasts. Last week’s decision to raise $12 billion...
Buffett Buys GE, Goldman. Should You?
While I was sitting at my desk on Wednesday, I heard Chris Rowe marvel, “Warren Buffett is such a stud.” Now, Chris does have a slight man-crush on Warren, but he’s also happily married with baby number two on the way. So I figured that Buffett must have just pulled off a major coup. Sure enough, I looked at the news and saw that Buffett’s Berkshire Hathaway (BRK.A) had invested $3 billion in General Electric (GE) preferred stock carrying a 10% dividend. Buffett also secured the option of picking up another $3 billion worth of GE common stock at $22.25 a share over the next five years. GE stock closed at $24.50 on Oct. 1. For average Joe investor, GE’s dividend yield is around 5%. ...
GE bullish over wind forecast
Given that Germany has the highest installed wind capacity in the world at about 23,000MW, it is not surprising to learn that US engineering giant GE Power's main renewables facility is sited in the country. Located in Salzbergen, close to the border with the Netherlands, and capable of producing 1,600 wind turbines a year, the facility is GE's so-called centre of excellence for wind energy. While GE is obviously proud of the facility and the investment it has put into it, the site has a rather dubious heritage, having been acquired in a bankruptcy sale following the spectacular collapse of power industry pariah Enron in 2002. However, according to GE Power's vice president of renewables, Victor Abate, the company has made significant improvements to the Salzbergen factory and the wider wind business it acquired....
Monday, October 6, 2008
Recent News: Class Action Lawsuit, GE Honda, and GE Healthcare
The Rosen Law Firm Files Securities Class Action Charging General Electric Company With Violations of the Federal Securities Laws -- GE
The Rosen Law Firm today announced that it has filed a class action lawsuit on behalf of all purchasers of General Electric Company common stock and call option during the period beginning September 25, 2008 through and including October 1, 2008. To join the GE class action, go to the website at http://rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
NBAA 2008: Tough testing for GE Honda powerplant
Work on GE Honda’s HF120 advanced 2,000lb thrust turbofan propulsion system is proceeding apace – with formal certification testing still on target to begin at the turn of the year. This year has been all about design validation, according to GE Honda’s president Bill Dwyer, who says the new engine will give great customer value in terms of “price point, weight, fuel efficiency and maintenance costs”....
Curing What Ails GE's Health Unit
GE Healthcare sells machines that discover why people are sick. The General Electric Co. unit's new chief executive, John Dineen, now must cure what ails the business. The division has been plagued by factory-production glitches that led to a federally ordered plant shutdown, an aborted acquisition and shrinking insurance payments that crimp demand for GE's products. The unit's operating profit fell 4% in the first half of 2008, after declining 3% last year. This summer the division laid off hundreds of workers...
The Rosen Law Firm today announced that it has filed a class action lawsuit on behalf of all purchasers of General Electric Company common stock and call option during the period beginning September 25, 2008 through and including October 1, 2008. To join the GE class action, go to the website at http://rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
NBAA 2008: Tough testing for GE Honda powerplant
Work on GE Honda’s HF120 advanced 2,000lb thrust turbofan propulsion system is proceeding apace – with formal certification testing still on target to begin at the turn of the year. This year has been all about design validation, according to GE Honda’s president Bill Dwyer, who says the new engine will give great customer value in terms of “price point, weight, fuel efficiency and maintenance costs”....
Curing What Ails GE's Health Unit
GE Healthcare sells machines that discover why people are sick. The General Electric Co. unit's new chief executive, John Dineen, now must cure what ails the business. The division has been plagued by factory-production glitches that led to a federally ordered plant shutdown, an aborted acquisition and shrinking insurance payments that crimp demand for GE's products. The unit's operating profit fell 4% in the first half of 2008, after declining 3% last year. This summer the division laid off hundreds of workers...
Recent News: Warren Buffett, Stock Offering, Stock Performance, and Ratings Cut
Chasing Value: General Electric is screaming to me!
The market is bouncing around with every bit of news leaked from the Congress as well as company warnings and Federal reports. 'My pal Warren' is frequently being asked his opinion about the stock market and his 'stock answer' is that he ignores the overall market and its daily gyrations and focuses on individual investments and price (value)....
General Electric still slides on Warren Buffett backing
Shares in General Electric fell another 10 per cent yesterday as Wall Street ignored the backing Warren Buffett has given the company and braced itself for a full-scale banking crisis. On Wednesday, Mr Buffett bought $3 billion (£1.7 billion) of GE preferred shares through Berkshire Hathaway, his investment vehicle. He acquired the stock at $22.25 each. At the same time, GE, one of the world’s largest conglomerates, sold another 548 million shares at the same price to other investors. On Wall Street yesterday, GE shares were trading at $22.12, just below the fundraising offer price...
Bet on Warren Buffett, not on slogans
THERE’S only one set of people that finance firms have thrown money at more willingly than subprime borrowers in recent years and that’s ad execs. And a fat lot of good it’s done them. Even in these straitened times, they are seldom off the TV and their spots are seldom anything other than awful. At the moment there’s a particularly horrid series for E-Trade featuring a baby day trader getting freaky with his girlfriend via text message. “Bad girl,” he says and shivers. Me too. Makes me feel abused every time it’s on...
Buffett Sees the Light in GE
Some stocks are labeled bellwethers for good reason. General Electric, the huge conglomerate whose reach extends into industry, health care, media and financial services, has long been considered a barometer for the economy. These days, for better or worse, the company is emblematic of the problems roiling the financial markets overall and financial firms in particular. ..
GE Needs to Shed More Light
WEDNESDAY AFTERNOON, GENERAL ELECTRIC (ticker: GE) announced plans to offer at least $12 billion of common stock to the public. The announcement comes on the heels of saying on Sept. 25 when asked about issuing new equity that "we just don't see it right now."...
Ahead of the Bell: Analyst cuts forecast for GE
An analyst Friday reduced his earnings forecast for General Electric Co. for 2008 and the next two years, but said the conglomerate's share offering of $12.2 billion and another $3 billion in warrants to Warren Buffett affects only the fourth quarter....
GE shares slide after secondary stock offering
General Electric Co. shares fell as much as 10 percent on Thursday, touching a new 5-1/2-year low, as its sale of $15 billion in new stock to investors including Warren Buffett failed to soothe Wall Street worries. GE shares have tumbled about 40 percent this year as the global credit crunch has taken a heavy toll on its hefty finance arm and the company warned that 2008 profit could drop 12 percent....
The market is bouncing around with every bit of news leaked from the Congress as well as company warnings and Federal reports. 'My pal Warren' is frequently being asked his opinion about the stock market and his 'stock answer' is that he ignores the overall market and its daily gyrations and focuses on individual investments and price (value)....
General Electric still slides on Warren Buffett backing
Shares in General Electric fell another 10 per cent yesterday as Wall Street ignored the backing Warren Buffett has given the company and braced itself for a full-scale banking crisis. On Wednesday, Mr Buffett bought $3 billion (£1.7 billion) of GE preferred shares through Berkshire Hathaway, his investment vehicle. He acquired the stock at $22.25 each. At the same time, GE, one of the world’s largest conglomerates, sold another 548 million shares at the same price to other investors. On Wall Street yesterday, GE shares were trading at $22.12, just below the fundraising offer price...
Bet on Warren Buffett, not on slogans
THERE’S only one set of people that finance firms have thrown money at more willingly than subprime borrowers in recent years and that’s ad execs. And a fat lot of good it’s done them. Even in these straitened times, they are seldom off the TV and their spots are seldom anything other than awful. At the moment there’s a particularly horrid series for E-Trade featuring a baby day trader getting freaky with his girlfriend via text message. “Bad girl,” he says and shivers. Me too. Makes me feel abused every time it’s on...
Buffett Sees the Light in GE
Some stocks are labeled bellwethers for good reason. General Electric, the huge conglomerate whose reach extends into industry, health care, media and financial services, has long been considered a barometer for the economy. These days, for better or worse, the company is emblematic of the problems roiling the financial markets overall and financial firms in particular. ..
GE Needs to Shed More Light
WEDNESDAY AFTERNOON, GENERAL ELECTRIC (ticker: GE) announced plans to offer at least $12 billion of common stock to the public. The announcement comes on the heels of saying on Sept. 25 when asked about issuing new equity that "we just don't see it right now."...
Ahead of the Bell: Analyst cuts forecast for GE
An analyst Friday reduced his earnings forecast for General Electric Co. for 2008 and the next two years, but said the conglomerate's share offering of $12.2 billion and another $3 billion in warrants to Warren Buffett affects only the fourth quarter....
GE shares slide after secondary stock offering
General Electric Co. shares fell as much as 10 percent on Thursday, touching a new 5-1/2-year low, as its sale of $15 billion in new stock to investors including Warren Buffett failed to soothe Wall Street worries. GE shares have tumbled about 40 percent this year as the global credit crunch has taken a heavy toll on its hefty finance arm and the company warned that 2008 profit could drop 12 percent....
Friday, October 3, 2008
Recent News: Stock Offering and Warren Buffett
GE Offering Could Become Big U.S. Score for Deutsche Bank General Electric’s decision to sell $12 billion in common stock to the public is the best news Deutsche Bank’s equities team has heard in nearly two years. General Electric is selling $12 billion in common stock to the public and $3bn in perpetual preferred stock to Berkshire Hathaway, in what could be the largest US issuance of common shares featuring Deutsche Bank as one of the bookrunners...
Praise for General Electric, but dilution questioned
While much of the market is staying on the sidelines with cash in hand, Warren Buffett has made some major investments in names like Constellation Energy Group Inc., Goldman Sachs Group Inc. and now General Electric Co. His Berkshire Hathaway Inc. announced plans to purchase US$3-billion in perpetual preferred GE stock and warrants to buy 134.8 million common shares at any time in the next five years. The price tag was set at US$22.25 a share, below GE's market price and nearly half of where it was trading a year ago. GE is also offering at least US$12-billion in common shares to the public...
Buffett’s Bet on G.E.: Almost as Good as a Bailout
Warren E. Buffett is emerging as the banker of choice to the embattled blue-chip companies of American business. Mr. Buffett, the billionaire investor, announced on Wednesday that he would invest $3 billion in General Electric, the industrial giant that is also the nation’s largest nonbank financial company. The move comes eight days after he said he would invest $5 billion in Goldman Sachs...
GE Pays Now For Profit Later
General Electric is making its shareholders suffer some short-term pain for what it hopes will be long-term gain. The conglomerate on Thursday priced a secondary stock offering at a significant discount to its Wednesday close, pushing down the outstanding shares but giving the company a dollop of capital that will reduce its dependence on the stressed-out commercial paper market...
Why Buffett Likes GE
Warren Buffett, CEO of Berkshire Hathaway, continues to use his firm's whopping cash balance to make investments into some of the most prized, and beaten down, American companies.
What will Buffett buy next? Click here for a free trial of the Validea Hot List with buys based on strategies of Buffett, Graham, Lynch and more. Buffett announced another deal this week: He's purchasing $3 billion worth of perpetual preferred stock in General Electric...
Praise for General Electric, but dilution questioned
While much of the market is staying on the sidelines with cash in hand, Warren Buffett has made some major investments in names like Constellation Energy Group Inc., Goldman Sachs Group Inc. and now General Electric Co. His Berkshire Hathaway Inc. announced plans to purchase US$3-billion in perpetual preferred GE stock and warrants to buy 134.8 million common shares at any time in the next five years. The price tag was set at US$22.25 a share, below GE's market price and nearly half of where it was trading a year ago. GE is also offering at least US$12-billion in common shares to the public...
Buffett’s Bet on G.E.: Almost as Good as a Bailout
Warren E. Buffett is emerging as the banker of choice to the embattled blue-chip companies of American business. Mr. Buffett, the billionaire investor, announced on Wednesday that he would invest $3 billion in General Electric, the industrial giant that is also the nation’s largest nonbank financial company. The move comes eight days after he said he would invest $5 billion in Goldman Sachs...
GE Pays Now For Profit Later
General Electric is making its shareholders suffer some short-term pain for what it hopes will be long-term gain. The conglomerate on Thursday priced a secondary stock offering at a significant discount to its Wednesday close, pushing down the outstanding shares but giving the company a dollop of capital that will reduce its dependence on the stressed-out commercial paper market...
Why Buffett Likes GE
Warren Buffett, CEO of Berkshire Hathaway, continues to use his firm's whopping cash balance to make investments into some of the most prized, and beaten down, American companies.
What will Buffett buy next? Click here for a free trial of the Validea Hot List with buys based on strategies of Buffett, Graham, Lynch and more. Buffett announced another deal this week: He's purchasing $3 billion worth of perpetual preferred stock in General Electric...
Thursday, October 2, 2008
Recent News: Warren Buffet to invest in GE and GE Credit Risks
Berkshire Takes $3 Billion Stake in General Electric Following up on the firm's $5 billion investment in Goldman Sachs, Berkshire Hathaway Inc. will be taking a $3 billion stake in General Electric Co. in a similarly structured private offering. As in the Goldman deal, Berkshire (NYSE: BRK) will be entitled to a 10% dividend on the newly issued $3 billion of perpetual preferred shares, which are callable by GE
Warren Buffett invests in General Electric
General Electric Co. is stocking up on cash, and Warren Buffett will be making a big deposit. The world’s second-largest company says it will sell at least $12 billion in common stock in a secondary public offering. Separately, Buffett’s Berkshire Hathaway will buy $3 billion in preferred General Electric stock....
What Buffett May Be Missing at GE
General Electric plans to sell $3 bn in preferred stock to Warren Buffett’s Berkshire Hathaway and raise at least $12 bn more by selling stock to the public, at potentially $22.25 to $22.50 each. The preferred shares have a 10% dividend, and are...
Buffett to Invest $3 Billion in G.E.
Warren E. Buffett is again buying into the bluest of blue-chip companies — at a steep discount. This time, the famed investor is buying $3 billion in perpetual preferred stock from General Electric, the conglomerate seeking to allay concerns about its financial health amid the whipsawing markets....
GE to raise $15 billion, Buffett gets preferred stake
General Electric Co plans to raise $15 billion through stock sales -- including $3 billion from Warren Buffett -- to improve liquidity and give it the option of more acquisitions at a time of intense market turmoil, the U.S. conglomerate said on Wednesday...
GE to sell $12 billion of stock; Buffett to take stake
It is the second time in as many weeks that Buffett has been tapped by one of America's marquee companies for capital. Through his investment vehicle Berkshire Hathaway, Buffett is investing as much as $10 billion in Goldman Sachs Co. to help the venerable investment bank navigate its way through the global credit crunch....
GE Defends Health as Credit Risk Widens, Shares Fall
General Electric Co. said it has been able to sell corporate paper and fund operations without tapping bank lines, seeking to quash speculation that led to a surge in its credit default swaps and a slump in the stock. "We see no reason for the defaults widening,'' Fairfield, Connecticut-based GE said in a statement today. "Despite current market disruptions, our CP funding has gone smoothly. We have over-funded every day, including today, with good demand for our paper in term maturities.''
Warren Buffett invests in General Electric
General Electric Co. is stocking up on cash, and Warren Buffett will be making a big deposit. The world’s second-largest company says it will sell at least $12 billion in common stock in a secondary public offering. Separately, Buffett’s Berkshire Hathaway will buy $3 billion in preferred General Electric stock....
What Buffett May Be Missing at GE
General Electric plans to sell $3 bn in preferred stock to Warren Buffett’s Berkshire Hathaway and raise at least $12 bn more by selling stock to the public, at potentially $22.25 to $22.50 each. The preferred shares have a 10% dividend, and are...
Buffett to Invest $3 Billion in G.E.
Warren E. Buffett is again buying into the bluest of blue-chip companies — at a steep discount. This time, the famed investor is buying $3 billion in perpetual preferred stock from General Electric, the conglomerate seeking to allay concerns about its financial health amid the whipsawing markets....
GE to raise $15 billion, Buffett gets preferred stake
General Electric Co plans to raise $15 billion through stock sales -- including $3 billion from Warren Buffett -- to improve liquidity and give it the option of more acquisitions at a time of intense market turmoil, the U.S. conglomerate said on Wednesday...
GE to sell $12 billion of stock; Buffett to take stake
It is the second time in as many weeks that Buffett has been tapped by one of America's marquee companies for capital. Through his investment vehicle Berkshire Hathaway, Buffett is investing as much as $10 billion in Goldman Sachs Co. to help the venerable investment bank navigate its way through the global credit crunch....
GE Defends Health as Credit Risk Widens, Shares Fall
General Electric Co. said it has been able to sell corporate paper and fund operations without tapping bank lines, seeking to quash speculation that led to a surge in its credit default swaps and a slump in the stock. "We see no reason for the defaults widening,'' Fairfield, Connecticut-based GE said in a statement today. "Despite current market disruptions, our CP funding has gone smoothly. We have over-funded every day, including today, with good demand for our paper in term maturities.''
Wednesday, October 1, 2008
Recent News: Toasters Recalled, Agility Healthcare Purchase, Stock Buyback Program, and GE Oil and Gas Pipeline
General Electric toasters recalled
The U.S. Consumer Product Safety Commission announced a voluntary recall of General Electric toasters due to a shock and fire hazard. Importer Wal-Mart Stores Inc. of Bentonville, Ark., has received 140 reports of short circuits in the toasters causing sparks or fires, the commission said in a statement.
General Electric buys health care tech company
General Electric Co.'s GE Healthcare unit said Tuesday it bought privately-held Agility Healthcare Solutions in move to expand its software offerings which help hospitals coordinate patient care...
Here, There and Everywhere
Also last week, General Electric – a key company for U.S. employment and stock portfolios – shocked markets when it suspended a stock buyback program and indicated it may not boost its dividend in 2009 for the first time since 1976...
GE Oil & Gas' PII Pipeline Solutions Expands Staff and Engineering Services in Calgary for Canadian Operators
GE Oil & Gas has expanded its PII Pipeline Solutions technical staff and engineering analysis services in Calgary on behalf of Canadian pipeline operators. GE increased its pipeline data analysis department by 17 people in 2008 and its integrity engineering department to nine, full-time desk engineers, including a data software engineer to enable the newly enhanced levels of pipeline support services for its Canadian customers....
GE Healthcare Acquires Agility Healthcare Solutions, Broadening Capabilities to Help Hospitals Improve Their Performance
GE Healthcare, a unit of General Electric Company announced today that it has acquired the privately held Agility Healthcare Solutions of Glen Allen, Virginia. Financial terms were not disclosed. Agility Healthcare Solutions provides unique and innovative products that transform hospital workflow and patient care management...
The U.S. Consumer Product Safety Commission announced a voluntary recall of General Electric toasters due to a shock and fire hazard. Importer Wal-Mart Stores Inc. of Bentonville, Ark., has received 140 reports of short circuits in the toasters causing sparks or fires, the commission said in a statement.
General Electric buys health care tech company
General Electric Co.'s GE Healthcare unit said Tuesday it bought privately-held Agility Healthcare Solutions in move to expand its software offerings which help hospitals coordinate patient care...
Here, There and Everywhere
Also last week, General Electric – a key company for U.S. employment and stock portfolios – shocked markets when it suspended a stock buyback program and indicated it may not boost its dividend in 2009 for the first time since 1976...
GE Oil & Gas' PII Pipeline Solutions Expands Staff and Engineering Services in Calgary for Canadian Operators
GE Oil & Gas has expanded its PII Pipeline Solutions technical staff and engineering analysis services in Calgary on behalf of Canadian pipeline operators. GE increased its pipeline data analysis department by 17 people in 2008 and its integrity engineering department to nine, full-time desk engineers, including a data software engineer to enable the newly enhanced levels of pipeline support services for its Canadian customers....
GE Healthcare Acquires Agility Healthcare Solutions, Broadening Capabilities to Help Hospitals Improve Their Performance
GE Healthcare, a unit of General Electric Company announced today that it has acquired the privately held Agility Healthcare Solutions of Glen Allen, Virginia. Financial terms were not disclosed. Agility Healthcare Solutions provides unique and innovative products that transform hospital workflow and patient care management...
