GE's Increased Dividend - Not Until 2011
Speaking at a Goldman Sachs investor conference yesterday, General Electric (GE) CFO Keith Sherin indicated that profits at the conglomerate will begin growing again in 2011. GE’s profits have been in decline since 2007 and Wall Street expects another decline this year.
Dividend investors also have reason to cheer as GE’s CFO also indicated that the company plans to begin growing their dividend again, but not until 2011.
Early in 2009, GE slashed their quarterly dividend by 68% just as the stock was hitting its lowest point. Prior to the dividend cut, GE had been a member of the elite Dividend Aristocrats – stocks that had increased their dividends for 25 consecutive years or more. In fact, the dividend cut was the first for the company since 1938.
With earnings expected to begin recovering in the second half of this year, many dividend investors were hoping that GE would hike their dividend in 2010.
While GE’s dividend yield is a rather average 2.3%, investors who dumped their shares when the company cut their dividend are surely kicking themselves now. Since cutting their dividend, GE stock has soared 115% and is up 21% in 2010 (second only to Boeing (BA) among Dow stocks).
Wall Street’s consensus estimates call for $1.00 EPS in 2010 for GE. With an annual dividend of $.40 per share, GE would have a dividend payout ratio of 40%. In 2006, GE’s dividend payout ratio was 46% and in 2007 it was 47%. With EPS expected to climb to $1.22 per share in 2011, a more modest 41% target dividend payout ratio would result in a dividend increase of 25% to $.50 per share. While 25% is a significant increase to their dividend payment, it may take such a bold move to win back dividend investors who are still smarting from last year’s huge dividend cut.
GE: Don't call it a comeback
Has Jeff Immelt finally made General Electric investors forget the legendary Jack Welch?
That's a stretch -- investors can no longer count on GE beating estimates and posting double-digit earnings growth in good times and bad.
But the current GE (GE, Fortune 500) CEO -- and the company's shareholders -- finally have a lot to smile about.
GE, which was the second-worst performer in the Dow last year, falling nearly 7%, has staged a remarkable turnaround. The stock is up 20% in 2010, the second-best Dow component behind Boeing (BA, Fortune 500).
Is the rally justified? Perhaps.
General Electric Is A Buy
After a decade of disaster, the past 12 months have finally given General Electric shareholders something to crow about. The industrial megalith has seen its shares rise 79% in that time, and recent momentum is highly encouraging for GE longs; GE rose 4.2% last week, making it the best performing stock on the Dow Jones industrial average.
This rebound, however, has been a long time coming. Over the past decade GE shares are down 61%, badly lagging the S&P 500 Index, which is down 19% in that span. Along the way GE did the sacrosanct and cut its dividend last February in order to hang on to its AAA credit rating. Despite slashing the dividend by 68%, Standard & Poor's ultimately downgraded GE debt to AA+.
General Electric: Up 10% Since Last Thursday
General Electric (GE) has had a pretty good couple of days.
Since last Thursday, the stock has gained more than 10%, which is a big move for GE. The move has propelled GE to its highest level since late 2008, and it has made a big impact on the S&P 500 given its size.
General Electric's high in 2007 was $42.15, and the stock is still 57% below that level even after its recent gains.
Showing posts with label Jack Welch. Show all posts
Showing posts with label Jack Welch. Show all posts
Saturday, March 20, 2010
Sunday, February 14, 2010
Olympics, GE sues Mitsubishi, Obama, and Lobbyists
Olympic Opening Draws 33 Million U.S. Viewers
The opening of the Winter Olympics drew a surge of viewers Friday, even as the Games' planners contended with unseasonably warm weather and a tragic death. An average of 32.6 million people in the U.S. watched the opening ceremony on NBC, according to early figures provided by the General Electric Co. network. That is 47% above the 22.2 million who watched the Torino, Italy, opening four years ago, and the third-most watched Winter opening since at least the 1980s.
GE sues Mitsubishi over turbine patents
Washington: General Electric, the biggest maker of wind turbines in the United States, filed a new patent- infringement lawsuit against Mitsubishi Heavy Industries and plans to appeal an earlier case it lost. The new complaint, filed on Thursday in federal court in Dallas, claims Mitsubishi Heavy infringes two patents.
Why is Obama Taking Recovery Advice From GE’s CEO?
Former General Electric CEO Jack Welch epitomized the ultimate corporate globalization mentality when he declared in 1998: "Ideally, you'd have every plant you own on a barge." The idea was to abandon existing workers as rapidly as possible in search of the lowest possible wage and maximum control. GE's prominence always guarantees it the ear of the president. Current CEO Jeffrey Immelt is a member of President Obama's "kitchen cabinet," the advisory board set up to "provide an independent voice on economic issues" and offer "independent advice to the President as he formulates and implements his plans for economic recovery."
Lobbyists didn’t suffer a slowdown in 2009
General Electric, based in Fairfield, Conn., was the second biggest-spending corporation with $25.5 million, up from $19.4 million in 2008. GE’s NBC Universal subsidiary is seeking approval to merge with Philadelphia-based Comcast.
The opening of the Winter Olympics drew a surge of viewers Friday, even as the Games' planners contended with unseasonably warm weather and a tragic death. An average of 32.6 million people in the U.S. watched the opening ceremony on NBC, according to early figures provided by the General Electric Co. network. That is 47% above the 22.2 million who watched the Torino, Italy, opening four years ago, and the third-most watched Winter opening since at least the 1980s.
GE sues Mitsubishi over turbine patents
Washington: General Electric, the biggest maker of wind turbines in the United States, filed a new patent- infringement lawsuit against Mitsubishi Heavy Industries and plans to appeal an earlier case it lost. The new complaint, filed on Thursday in federal court in Dallas, claims Mitsubishi Heavy infringes two patents.
Why is Obama Taking Recovery Advice From GE’s CEO?
Former General Electric CEO Jack Welch epitomized the ultimate corporate globalization mentality when he declared in 1998: "Ideally, you'd have every plant you own on a barge." The idea was to abandon existing workers as rapidly as possible in search of the lowest possible wage and maximum control. GE's prominence always guarantees it the ear of the president. Current CEO Jeffrey Immelt is a member of President Obama's "kitchen cabinet," the advisory board set up to "provide an independent voice on economic issues" and offer "independent advice to the President as he formulates and implements his plans for economic recovery."
Lobbyists didn’t suffer a slowdown in 2009
General Electric, based in Fairfield, Conn., was the second biggest-spending corporation with $25.5 million, up from $19.4 million in 2008. GE’s NBC Universal subsidiary is seeking approval to merge with Philadelphia-based Comcast.
Sunday, September 28, 2008
Recent News: GE Healthcare, Jack Welch, Defense Department Contract, Outlook, Jeff Immelt, Jeff Zucker, NBC Universal. Iraq Power, Global Growth
GE enters home health care monitoring market
GE Healthcare, a business of General Electric Co., is entering a potential $5 billion international market providing health monitors for the elderly who live alone. GE Healthcare announced Wednesday an agreement with privately held Living Independently Group Inc., a provider of a wireless monitoring system to distribute monitors to seniors and develop new applications....
Former GE Boss Jack Welch Predicts Deep Economic Downturn
Former General Electric Co. chairman and chief executive Jack Welch said Wednesday that the U.S. was in for "one hell of a deep downturn." He urged swift and decisive action to confront the current financial crisis, expressing support for the $700-billion financial relief package proposed by the Bush administration....
GE gets $15M engine contract by Defense Department
The Defense Department has awarded a $15 million contract to a division of General Electric Co. for work on aircraft engine parts....
General Electric revises 3Q, full-year outlook
General Electric has lowered its outlook for third-quarter and full-year earnings, citing unprecedented weakness and volatility in the financial services markets. The company also has reaffirmed its commitment to maintaining a 'AAA' credit rating, and is taking steps to bolster its capital and liquidity position....
Immelt: Things Will Turn Around
After dropping more than 4% in early trading, GE shares were up nearly 4% at midday, after General Electric CEO Jeff Immelt said the credit storm has been rough on the company but won't sink it. Immelt emphasized during a (General Electric-owned) CNBC appearance that his company is "not in the credit default swap business," helping to alleviate fears--for now--that the company's problems with its GE Capital unit will plague it for the long haul...
Jeff Zucker says GE committed to NBC Uni
NBC Universal president and CEO Jeff Zucker reiterated the strength of parent GE's commitment to the media company Friday, calling it "profound" despite the recent financial turmoil and the profit warning issued Thursday by GE."I think it's looking at it backwards," he said, when asked whether GE was under renewed pressure to sell NBC because of the tightening of liquidity in financial markets....
Generally Weaker GE
GENERAL ELECTRIC PREANNOUNCED third-quarter earnings per share Thursday with a new range of 43 cents-48 cents down from prior guidance of 50 cents-54 cents. The company also lowered fiscal 2008 EPS guidance to $1.95-$2.10 from $2.20-$2.30....
Iraq signs bln-dollar power deals with GE, Siemens
Iraq has signed preliminary deals worth billions of dollars with General Electric Co and Siemens for equipment to almost double electricity generation capacity, an energy official said on Saturday....
GE gets cautious
When Jack Welch said his protégé, Jeff Immelt, was "getting his ass kicked" following a profit warning this year, the General Electric boss could console himself by pointing to a steady rise in cash returns to shareholders through dividends and buybacks. Yesterday's warning, accompanied by the suspension of buybacks and the first dividend freeze in 32 years, leaves Mr Immelt under more pressure than at any time since he took the reins in 2001....
GE: Betting on a Global Growth Story
Buying GE (GE)...safe 5% yield and 10 times earnings....picked up some for $24.77 a share Friday morning. I first became really interested in GE when shares hit $23 and change but did not pull the trigger. On Thursday, GE lowered guidance for the quarter and the year. Not a real surprise given conditions out there but two questions I had were answered. Was the dividend safe, and was its 'AAA' rating safe? The answer to both was yes....
GE Healthcare, a business of General Electric Co., is entering a potential $5 billion international market providing health monitors for the elderly who live alone. GE Healthcare announced Wednesday an agreement with privately held Living Independently Group Inc., a provider of a wireless monitoring system to distribute monitors to seniors and develop new applications....
Former GE Boss Jack Welch Predicts Deep Economic Downturn
Former General Electric Co. chairman and chief executive Jack Welch said Wednesday that the U.S. was in for "one hell of a deep downturn." He urged swift and decisive action to confront the current financial crisis, expressing support for the $700-billion financial relief package proposed by the Bush administration....
GE gets $15M engine contract by Defense Department
The Defense Department has awarded a $15 million contract to a division of General Electric Co. for work on aircraft engine parts....
General Electric revises 3Q, full-year outlook
General Electric has lowered its outlook for third-quarter and full-year earnings, citing unprecedented weakness and volatility in the financial services markets. The company also has reaffirmed its commitment to maintaining a 'AAA' credit rating, and is taking steps to bolster its capital and liquidity position....
Immelt: Things Will Turn Around
After dropping more than 4% in early trading, GE shares were up nearly 4% at midday, after General Electric CEO Jeff Immelt said the credit storm has been rough on the company but won't sink it. Immelt emphasized during a (General Electric-owned) CNBC appearance that his company is "not in the credit default swap business," helping to alleviate fears--for now--that the company's problems with its GE Capital unit will plague it for the long haul...
Jeff Zucker says GE committed to NBC Uni
NBC Universal president and CEO Jeff Zucker reiterated the strength of parent GE's commitment to the media company Friday, calling it "profound" despite the recent financial turmoil and the profit warning issued Thursday by GE."I think it's looking at it backwards," he said, when asked whether GE was under renewed pressure to sell NBC because of the tightening of liquidity in financial markets....
Generally Weaker GE
GENERAL ELECTRIC PREANNOUNCED third-quarter earnings per share Thursday with a new range of 43 cents-48 cents down from prior guidance of 50 cents-54 cents. The company also lowered fiscal 2008 EPS guidance to $1.95-$2.10 from $2.20-$2.30....
Iraq signs bln-dollar power deals with GE, Siemens
Iraq has signed preliminary deals worth billions of dollars with General Electric Co and Siemens for equipment to almost double electricity generation capacity, an energy official said on Saturday....
GE gets cautious
When Jack Welch said his protégé, Jeff Immelt, was "getting his ass kicked" following a profit warning this year, the General Electric boss could console himself by pointing to a steady rise in cash returns to shareholders through dividends and buybacks. Yesterday's warning, accompanied by the suspension of buybacks and the first dividend freeze in 32 years, leaves Mr Immelt under more pressure than at any time since he took the reins in 2001....
GE: Betting on a Global Growth Story
Buying GE (GE)...safe 5% yield and 10 times earnings....picked up some for $24.77 a share Friday morning. I first became really interested in GE when shares hit $23 and change but did not pull the trigger. On Thursday, GE lowered guidance for the quarter and the year. Not a real surprise given conditions out there but two questions I had were answered. Was the dividend safe, and was its 'AAA' rating safe? The answer to both was yes....
Saturday, August 9, 2008
Recent News: GE Energy Olympics, Spanish Solar, GE Capital, Haier, Investors Misled, Appliance Buyers, Jack Welch, GE Aviation, T. Boone Pickens, NBC
GE Energy to Provide Services for Beijing Power Plant That Will Supply Power for Beijing 2008 Olympic Games
GE Energy will provide long-term services for a new power plant that will supply electricity for the Beijing 2008 Olympic Games, as well as heat and power for the city of Beijing in the future...
GE buys 32 pct of Spanish solar energy firm
Spanish solar power company Fotowatio said on Friday that General Electric's Energy Financial Services unit had bought 32 percent of the company for 150 million euros ($233.5 million)....
GE Capital Completes Acquisition of Most of CitiCapital
GE Capital today announced the completion of its acquisition of most of CitiCapital, Citigroup's North American commercial leasing and commercial equipment finance business, adding $13.2 billion in assets...
Haier Eyes GE Appliance Unit as It Seeks Acquisitions
Haier Group Corp., China's largest maker of refrigerators and air conditioners, is looking at General Electric Co.'s appliance arm and other ``opportunities'' as it seeks acquisitions overseas...
Suit claims GE misled investors in first quarter
Two shareholders of General Electric Co. have filed suit in federal court in Connecticut, accusing the conglomerate of failing to disclose deteriorating business conditions during the first quarter in what they said amounted to securities fraud...
GE Executive: Still In Talks With Possible Appliance Unit Buyers
General Electic Co. (GE) is still in talks with possible buyers of its appliance business, but will most likely spin it off along with the company's consumer and industrial division, GE International Chief Executive Ferdinando Beccalli-Falco said Monday...
The success story of Jack Welch
He is one of the world's most admired and influential business leaders. A business strategist with a great vision, his business philosophy is a lesson for businesses across the globe. Meet Jack Welch who served as chairman and CEO of General Electric (GE) from 1981-2001. He transformed an ailing organization into one of the world's best companies...
GE Aviation wins $730M deal from Air One
Italian airline Air One SpA has ordered engines and signed an agreement with GE Aviation that add up to more than $730 million, the engine maker announced Monday...
GE Struggles but Signs T. Boone Pickens Deal
General Electric (GE: NYSE) has had a tough couple of months, with the stock falling to about $26 per share. It has made up some lost ground and has been trading around $28.50 for the past few days or so. It's a challenge to know what it will do in the short-term...
GE investors see post-Olympics NBC sale unlikely
After more than a year of Wall Street chatter that General Electric Co. would sell its NBC Universal media unit after broadcasting the Beijing Olympics, investors now say such a move seems unlikely....
GE pushes Beijing Olympics sponsorship
General Electric (GE) is launching a global campaign to promote its sponsorship of the Beijing Olympics. It breaks to coincide with the opening ceremony later today (August 8)...
GE Energy will provide long-term services for a new power plant that will supply electricity for the Beijing 2008 Olympic Games, as well as heat and power for the city of Beijing in the future...
GE buys 32 pct of Spanish solar energy firm
Spanish solar power company Fotowatio said on Friday that General Electric's Energy Financial Services unit had bought 32 percent of the company for 150 million euros ($233.5 million)....
GE Capital Completes Acquisition of Most of CitiCapital
GE Capital today announced the completion of its acquisition of most of CitiCapital, Citigroup's North American commercial leasing and commercial equipment finance business, adding $13.2 billion in assets...
Haier Eyes GE Appliance Unit as It Seeks Acquisitions
Haier Group Corp., China's largest maker of refrigerators and air conditioners, is looking at General Electric Co.'s appliance arm and other ``opportunities'' as it seeks acquisitions overseas...
Suit claims GE misled investors in first quarter
Two shareholders of General Electric Co. have filed suit in federal court in Connecticut, accusing the conglomerate of failing to disclose deteriorating business conditions during the first quarter in what they said amounted to securities fraud...
GE Executive: Still In Talks With Possible Appliance Unit Buyers
General Electic Co. (GE) is still in talks with possible buyers of its appliance business, but will most likely spin it off along with the company's consumer and industrial division, GE International Chief Executive Ferdinando Beccalli-Falco said Monday...
The success story of Jack Welch
He is one of the world's most admired and influential business leaders. A business strategist with a great vision, his business philosophy is a lesson for businesses across the globe. Meet Jack Welch who served as chairman and CEO of General Electric (GE) from 1981-2001. He transformed an ailing organization into one of the world's best companies...
GE Aviation wins $730M deal from Air One
Italian airline Air One SpA has ordered engines and signed an agreement with GE Aviation that add up to more than $730 million, the engine maker announced Monday...
GE Struggles but Signs T. Boone Pickens Deal
General Electric (GE: NYSE) has had a tough couple of months, with the stock falling to about $26 per share. It has made up some lost ground and has been trading around $28.50 for the past few days or so. It's a challenge to know what it will do in the short-term...
GE investors see post-Olympics NBC sale unlikely
After more than a year of Wall Street chatter that General Electric Co. would sell its NBC Universal media unit after broadcasting the Beijing Olympics, investors now say such a move seems unlikely....
GE pushes Beijing Olympics sponsorship
General Electric (GE) is launching a global campaign to promote its sponsorship of the Beijing Olympics. It breaks to coincide with the opening ceremony later today (August 8)...
Thursday, July 24, 2008
Recent News: Jack Welch, Olympics, GE Aviation, and NBC Universal
Judging Ge's Jack Welch
One of the big problems that most of us have in life is that we never get to read our own obituaries, which would be our best chance to see people saying nice things about us. But high-profile corporate chieftains who announce their departures don't have this problem. They get to hear all that nice stuff while they're still around, because retirement stories strongly resemble obits, except that the subject is still alive and kicking. As witness the gushing and slobbering over General Electric chairman Jack Welch last week after he mentioned on a TV show that he plans to retire in April 2001...
GE Goes For The Gold
For years investors have been asking why General Electric owns NBC Universal, and GE has been making the case that despite having little to do with the rest of the business, the network was a one-of-a-kind asset worth hanging on to....
GE Aviation enters fast-growing industry segment with purchase of Czech turboprop engine maker
General Electric's aviation unit said Thursday it bought a Czech company that will help it make inroads into the fast-growing market for small twin-engine turboprop aircraft. GE Aviation said it purchased Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry...
Immelt Defends GE's Wide Reach
Unlike three months ago, when GE announced an unexpected 5.9% drop in first-quarter earnings just weeks after Mr. Immelt had issued sunnier projections, he has told investors to expect relatively flat second-quarter results and profit growth of zero to 5% for 2008. He blames the credit crisis and a difficult economic time....
NBC Universal Clinches Deal to Buy Weather Channel
Long before April’s rare earnings miss at General Electric, which ramped up some analysts’ calls for the industrial conglomerate to sell off some of its businesses, many on Wall Street have scratched their heads over NBC Universal, GE’s media and entertainment arm. Some have called for the company, whose booming infrastructure business can seem like an odd fit with a TV network and movie studio, to spin off the peacock part of the portfolio....
Will GE get out of hot water by selling NBC to Time Warner?
General Electric (NYSE:GE), which reports earnings tomorrow, has indicated that it may spin-off its weakest divisions -- the firm's consumer and industrial units. No one cared, and the stock did not move. The action would not be enough, nearly enough to pull GE away from its multi-year lows....
GE Aviation to supply parts for Gulfstream G650
A unit of General Electric Co. said Monday it will supply parts for Gulfstream Aircraft Corp.'s G650 business jet in a deal worth potentially more than $100 million.
GE Aviation said it will supply the secondary power distribution system and APU door actuation system for the Gulfstream jet....
FlyDubai orders CFM56-7B engines
General Electric Company announced on Monday (15 July) that FlyDubai, a new low-cost carrier from the government of Dubai, UAE, has ordered 50 CFM56-7B-powered Boeing Next-Generation 737-800 and 737-900 aircraft. The CFM56-7B is a product of CFM International (CFM), a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company...
Airworthiness Directives; General Electric Company (GE) CT58 Series Turboshaft Engines
The FAA proposes to adopt a new airworthiness directive (AD) for certain GE CT58 series turboshaft engines. This proposed AD would require recalculating the lives of certain part numbered compressor spools using a new repetitive heavy lift (RHL) multiplying factor. This proposed AD results from reports of cracks originating from the inner faces of the locking screw holes in the compressor spool. We are proposing this AD to prevent cracks due to RHL missions. Cracks could result in an uncontained rotor burst and damage to, or loss of, the helicopter and serious injuries to any person onboard...
One of the big problems that most of us have in life is that we never get to read our own obituaries, which would be our best chance to see people saying nice things about us. But high-profile corporate chieftains who announce their departures don't have this problem. They get to hear all that nice stuff while they're still around, because retirement stories strongly resemble obits, except that the subject is still alive and kicking. As witness the gushing and slobbering over General Electric chairman Jack Welch last week after he mentioned on a TV show that he plans to retire in April 2001...
GE Goes For The Gold
For years investors have been asking why General Electric owns NBC Universal, and GE has been making the case that despite having little to do with the rest of the business, the network was a one-of-a-kind asset worth hanging on to....
GE Aviation enters fast-growing industry segment with purchase of Czech turboprop engine maker
General Electric's aviation unit said Thursday it bought a Czech company that will help it make inroads into the fast-growing market for small twin-engine turboprop aircraft. GE Aviation said it purchased Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry...
Immelt Defends GE's Wide Reach
Unlike three months ago, when GE announced an unexpected 5.9% drop in first-quarter earnings just weeks after Mr. Immelt had issued sunnier projections, he has told investors to expect relatively flat second-quarter results and profit growth of zero to 5% for 2008. He blames the credit crisis and a difficult economic time....
NBC Universal Clinches Deal to Buy Weather Channel
Long before April’s rare earnings miss at General Electric, which ramped up some analysts’ calls for the industrial conglomerate to sell off some of its businesses, many on Wall Street have scratched their heads over NBC Universal, GE’s media and entertainment arm. Some have called for the company, whose booming infrastructure business can seem like an odd fit with a TV network and movie studio, to spin off the peacock part of the portfolio....
Will GE get out of hot water by selling NBC to Time Warner?
General Electric (NYSE:GE), which reports earnings tomorrow, has indicated that it may spin-off its weakest divisions -- the firm's consumer and industrial units. No one cared, and the stock did not move. The action would not be enough, nearly enough to pull GE away from its multi-year lows....
GE Aviation to supply parts for Gulfstream G650
A unit of General Electric Co. said Monday it will supply parts for Gulfstream Aircraft Corp.'s G650 business jet in a deal worth potentially more than $100 million.
GE Aviation said it will supply the secondary power distribution system and APU door actuation system for the Gulfstream jet....
FlyDubai orders CFM56-7B engines
General Electric Company announced on Monday (15 July) that FlyDubai, a new low-cost carrier from the government of Dubai, UAE, has ordered 50 CFM56-7B-powered Boeing Next-Generation 737-800 and 737-900 aircraft. The CFM56-7B is a product of CFM International (CFM), a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company...
Airworthiness Directives; General Electric Company (GE) CT58 Series Turboshaft Engines
The FAA proposes to adopt a new airworthiness directive (AD) for certain GE CT58 series turboshaft engines. This proposed AD would require recalculating the lives of certain part numbered compressor spools using a new repetitive heavy lift (RHL) multiplying factor. This proposed AD results from reports of cracks originating from the inner faces of the locking screw holes in the compressor spool. We are proposing this AD to prevent cracks due to RHL missions. Cracks could result in an uncontained rotor burst and damage to, or loss of, the helicopter and serious injuries to any person onboard...
Tuesday, April 22, 2008
Recent News: Annual Meeting, Recession, Italy, Jack Welch, Shareholders, and Jet Engines: F136.
Erie welcomes GE leaders, shareholders
With General Electric Co. shareholders, executives and board members coming to Erie for Wednesday's annual shareholders meeting, the timing seemed perfect that GE Transportation was able to flex its financial muscle in the latest company earnings report...
Recession reports - Shocking GE results show size of crisis
FT reported that General Electric underlined the depth of the global financial crisis announcing its worst quarter in five years and slashing full year forecasts.The news, described as shocking by a senior GE executive, combined with data showing that US consumer confidence was at a 26 year low to send shares lower...
GE seeking acquisition opportunities in Italy
General Electric Co is seeking acquisition opportunities in Italy among small- and medium-sized companies with 'superior' technology and a strong growth potential, said General Electric International CEO Ferdinando Beccalli...
Former GE chief holsters his criticism
Former General Electric CEO Jack Welch backed away Thursday from comments he made the previous day criticizing his successor for missing earnings targets...
GE's future may be focus of shareholders
Officials at Fairfield-based General Electric may find a tougher audience than usual as they face shareholders at the conglomerate's annual meeting this week...
GE Rolls-Royce fighter engine team completes F136 high-altitude tests
The GE Rolls-Royce Fighter Engine Team has successfully completed a high-altitude afterburner testing program at the US Air Force Arnold Engineering Development Center in Tennessee, including common exhaust hardware for the F-35 Lightning II aircraft. The F136 engine is a 40,000+ lb. thrust, combat engine that will be available to power all variants of the F-35 for the US military and eight partner nations. All test objectives were reached as planned using an engine configured with Conventional Takeoff and Landing (CTOL) and Short Takeoff Vertical Landing (STOVL) common exhaust systems. The engine configuration included a production-size fan and functional augmentor allowing several run periods to full afterburner operation...
With General Electric Co. shareholders, executives and board members coming to Erie for Wednesday's annual shareholders meeting, the timing seemed perfect that GE Transportation was able to flex its financial muscle in the latest company earnings report...
Recession reports - Shocking GE results show size of crisis
FT reported that General Electric underlined the depth of the global financial crisis announcing its worst quarter in five years and slashing full year forecasts.The news, described as shocking by a senior GE executive, combined with data showing that US consumer confidence was at a 26 year low to send shares lower...
GE seeking acquisition opportunities in Italy
General Electric Co is seeking acquisition opportunities in Italy among small- and medium-sized companies with 'superior' technology and a strong growth potential, said General Electric International CEO Ferdinando Beccalli...
Former GE chief holsters his criticism
Former General Electric CEO Jack Welch backed away Thursday from comments he made the previous day criticizing his successor for missing earnings targets...
GE's future may be focus of shareholders
Officials at Fairfield-based General Electric may find a tougher audience than usual as they face shareholders at the conglomerate's annual meeting this week...
GE Rolls-Royce fighter engine team completes F136 high-altitude tests
The GE Rolls-Royce Fighter Engine Team has successfully completed a high-altitude afterburner testing program at the US Air Force Arnold Engineering Development Center in Tennessee, including common exhaust hardware for the F-35 Lightning II aircraft. The F136 engine is a 40,000+ lb. thrust, combat engine that will be available to power all variants of the F-35 for the US military and eight partner nations. All test objectives were reached as planned using an engine configured with Conventional Takeoff and Landing (CTOL) and Short Takeoff Vertical Landing (STOVL) common exhaust systems. The engine configuration included a production-size fan and functional augmentor allowing several run periods to full afterburner operation...
Saturday, April 19, 2008
Recent News: Jack Welch, Citigroup, Earnings, Jeffery Immelt, GE Retirees, Dubai and Middle East Growth
Welch backpedals, calls GE's Immelt "helluva CEO"
Former General Electric Co. chief Jack Welch changed his tune about Jeff Immelt, his successor as GE chairman and chief executive, on Thursday, calling him "a helluva CEO" in an appearance on CNBC business television...
Welch backtracks on diss of GE chief
Jack Welch admitted yesterday he “really stepped in it” by questioning the credibility of his successor at General Electric. Welch, the Boston homey and legendary former General Electric chief executive, backtracked yesterday from prior televised comments on CNBC that current GE chief, Jeffrey Immelt, had a “credibility issue” after the giant conglomerate recently surprised Wall Street with lower-than-expected profits...
GE Snags Citi Leasing Business
After disappointing shareholders with worse-than-expected first-quarter earnings, General Electric is seeking to grow out of its slump, buying a bunch of finance business lines from cash-strapped Citigroup....
The G7, the Banks and GE
This week, it’s tough to pick the most significant news. The G7 Finance Ministers Meeting was significant for what it didn’t do—something truly constructive about the credit crisis. Tired carpenters, the ministers and central bank chiefs hammered the same old nails. Their Financial Stabilities Forum report served up the same tired nostrums—extended capital requirements, transparency, closer international cooperation and the like....
GE’s Immelt to visit Erie school
General Electric Co. Chief Executive Jeffrey Immelt will visit Erie’s Harding Elementary School Tuesday morning while in town for GE’s annual shareholders meeting on Wednesday, GE officials said today.During the half-hour visit. Immelt will spend time with students to see firsthand how a $15 million grant from the GE Foundation awarded to the district in April 2007 is paying off, according to a news release from GE Transportation, the Lawrence Park Township-based division of GE...
GE says paperwork issues snag airline parts
General Electric Co. said Friday that it is working with federal aviation officials to resolve paperwork issues involving as many as 50 commercial airplane engines that are not authorized to operate at a certain setting...
GE retirees want cost-of-living pay
General Electric Co. is holding its annual shareholders' meeting Tuesday and Wednesday at the Bayfront Convention Center.My retirement group, the Retirees Association of General Electric or R.A.G.E., is pleased and interested in what GE Chairman Jeffrey Immelt has to say about the future of the business and our pensions and stock, particularly the widow's pension...
GE's green arm eyes Mideast for expansion
Dubai: Ecomagination, a green initiative of General Electric (GE), is looking to expand in the Middle East's construction and infrastructure sectors as the US firm seeks to bolster its credentials in energy-efficient and water conservation products....
Former General Electric Co. chief Jack Welch changed his tune about Jeff Immelt, his successor as GE chairman and chief executive, on Thursday, calling him "a helluva CEO" in an appearance on CNBC business television...
Welch backtracks on diss of GE chief
Jack Welch admitted yesterday he “really stepped in it” by questioning the credibility of his successor at General Electric. Welch, the Boston homey and legendary former General Electric chief executive, backtracked yesterday from prior televised comments on CNBC that current GE chief, Jeffrey Immelt, had a “credibility issue” after the giant conglomerate recently surprised Wall Street with lower-than-expected profits...
GE Snags Citi Leasing Business
After disappointing shareholders with worse-than-expected first-quarter earnings, General Electric is seeking to grow out of its slump, buying a bunch of finance business lines from cash-strapped Citigroup....
The G7, the Banks and GE
This week, it’s tough to pick the most significant news. The G7 Finance Ministers Meeting was significant for what it didn’t do—something truly constructive about the credit crisis. Tired carpenters, the ministers and central bank chiefs hammered the same old nails. Their Financial Stabilities Forum report served up the same tired nostrums—extended capital requirements, transparency, closer international cooperation and the like....
GE’s Immelt to visit Erie school
General Electric Co. Chief Executive Jeffrey Immelt will visit Erie’s Harding Elementary School Tuesday morning while in town for GE’s annual shareholders meeting on Wednesday, GE officials said today.During the half-hour visit. Immelt will spend time with students to see firsthand how a $15 million grant from the GE Foundation awarded to the district in April 2007 is paying off, according to a news release from GE Transportation, the Lawrence Park Township-based division of GE...
GE says paperwork issues snag airline parts
General Electric Co. said Friday that it is working with federal aviation officials to resolve paperwork issues involving as many as 50 commercial airplane engines that are not authorized to operate at a certain setting...
GE retirees want cost-of-living pay
General Electric Co. is holding its annual shareholders' meeting Tuesday and Wednesday at the Bayfront Convention Center.My retirement group, the Retirees Association of General Electric or R.A.G.E., is pleased and interested in what GE Chairman Jeffrey Immelt has to say about the future of the business and our pensions and stock, particularly the widow's pension...
GE's green arm eyes Mideast for expansion
Dubai: Ecomagination, a green initiative of General Electric (GE), is looking to expand in the Middle East's construction and infrastructure sectors as the US firm seeks to bolster its credentials in energy-efficient and water conservation products....
Wednesday, January 30, 2008
Recent News: GE Energy, Lawsuit, Bloomington Plant, Management Secrets, PCBs, GE Aviation, France, and Jack Welch
GE Energy secures $1bn wind turbine order
GE Energy, the energy arm of engineering conglomerate GE, has this week closed a $1bn wind turbine deal with wind farm operator Invenergy LLC in one of the largest deals in the wind sectors' history...
GE lawyer wins first round of $500m sexism case
A high-flying former in-house lawyer at General Electric, the world’s third-largest company, has won the first key round of her $500 million class-action sex discrimination claim...
GE site has promise for reuse, experts say
Plenty of potential exists to refill the massive refrigerator plant in Bloomington that General Electric Co. plans to abandon by the end of next year, according to a real estate expert and a former economic development director in the city...
Management Secrets From Inside GE
Few companies can boast the performance of General Electric, one of the world's most consistently profitable enterprises. One of the top reasons is talent. GE recruits the brightest minds it can find and relentlessly cultivates its leaders, training them at its legendary in-house management school, known as Crotonville (for its location north of New York City). In addition to world-class CEOs like Jeff Immelt and his predecessor, Jack Welch, the GE system has produced numerous executives who have left to run other well-known companies. Jim McNerny of Boeing, Chrysler's Bob Nardelli, and Dave Calhoun of the Nielsen Co., for instance, are three GE alumni...
GE sets meeting on PCBs
General Electric and environmental regulators are expected to unveil a massive report detailing GE's proposed cleanup for the Housatonic River at a Lee meeting in March...
GE Unit to Build Turbos for French Subs
GE Oil & Gas, a unit of General Electric Co., said Friday it received a contract from a French naval defense systems company to provide the turbo-generators and propulsion turbines for the French Navy's new fleet of six nuclear submarines...
GE Aviation lands in Houghton
The new tenants of the Powerhouse building in Houghton will celebrate their arrival with a ceremony at the site 11 a.m. Monday.The Evendale, Ohio-based aircraft engine producer is launching a university development center, which is expected to employ 50 people in Houghton. Up to 40 of them are expected to go to engineering students from Michigan Tech University, who will work under senior technical specialists and junior graduate engineers...
Author says Welch's tough talk strengthened GE
Jack Welch transformed General Electric Co. from an old-economy manufacturer into a modern conglomerate, in part because of his insistence on a culture of straight talk, according to a new book by his former speechwriter....
GE Energy, the energy arm of engineering conglomerate GE, has this week closed a $1bn wind turbine deal with wind farm operator Invenergy LLC in one of the largest deals in the wind sectors' history...
GE lawyer wins first round of $500m sexism case
A high-flying former in-house lawyer at General Electric, the world’s third-largest company, has won the first key round of her $500 million class-action sex discrimination claim...
GE site has promise for reuse, experts say
Plenty of potential exists to refill the massive refrigerator plant in Bloomington that General Electric Co. plans to abandon by the end of next year, according to a real estate expert and a former economic development director in the city...
Management Secrets From Inside GE
Few companies can boast the performance of General Electric, one of the world's most consistently profitable enterprises. One of the top reasons is talent. GE recruits the brightest minds it can find and relentlessly cultivates its leaders, training them at its legendary in-house management school, known as Crotonville (for its location north of New York City). In addition to world-class CEOs like Jeff Immelt and his predecessor, Jack Welch, the GE system has produced numerous executives who have left to run other well-known companies. Jim McNerny of Boeing, Chrysler's Bob Nardelli, and Dave Calhoun of the Nielsen Co., for instance, are three GE alumni...
GE sets meeting on PCBs
General Electric and environmental regulators are expected to unveil a massive report detailing GE's proposed cleanup for the Housatonic River at a Lee meeting in March...
GE Unit to Build Turbos for French Subs
GE Oil & Gas, a unit of General Electric Co., said Friday it received a contract from a French naval defense systems company to provide the turbo-generators and propulsion turbines for the French Navy's new fleet of six nuclear submarines...
GE Aviation lands in Houghton
The new tenants of the Powerhouse building in Houghton will celebrate their arrival with a ceremony at the site 11 a.m. Monday.The Evendale, Ohio-based aircraft engine producer is launching a university development center, which is expected to employ 50 people in Houghton. Up to 40 of them are expected to go to engineering students from Michigan Tech University, who will work under senior technical specialists and junior graduate engineers...
Author says Welch's tough talk strengthened GE
Jack Welch transformed General Electric Co. from an old-economy manufacturer into a modern conglomerate, in part because of his insistence on a culture of straight talk, according to a new book by his former speechwriter....
Recent News: GE Healthcare, M&A, Lawsuit, EPA, and Climate-Change Costs
GE Healthcare teams with Centrak to introduce battery-based RFID asset optimization solution
GE Healthcare today announced a predominantly battery-operated radio frequency ID (RFID) tracking system in partnership with CenTrak, Inc. of Newtown, PA. The new asset optimization solution, an innovative introduction to the marketplace, will enable healthcare facilities to reduce installation barriers and costs, compared to current RFID systems, thereby serving them to maximize return-on-investment (ROI) potential. In addition, the solution’s ability to accurately view locations at the room-level will enhance a hospital’s operational efficiency and improve overall patient care...
GE Healthcare Customers Realize Beauty of Science as Research to Be Published in Times Square
GE Healthcare, a leading global provider of automated high content analysis systems, will display winning entries from its IN Cell Analyzer(tm) Image Competition 2007 on the NBC screen in Times Square, New York on March 7 and 9, 2008...
Notable Mergers and Acquisitions of the Day 1/24 (ALY, BRNC, GE, GSIC)
Global Infrastructure Partners, a fund backed by GE and Credit Suisse Group is the new front runner in the potential buyout of U.K. waste management firm Biffa. Biffa says GIP has joined with Montagu Private Equity on the deal. TheDeal reported this news earlier this morning...
Business Books: Author says Welch's tough talk strengthened GE
Jack Welch transformed General Electric Co. from an old-economy manufacturer into a modern conglomerate, in part because of his insistence on a culture of straight talk, according to a new book by his former speechwriter...
GE attorney's class action lawsuit to go forward
A high-ranking attorney for General Electric Co. can go ahead with her class-action lawsuit against what she calls the "very male-dominated culture" in the international conglomerate, a federal judge has ruled...
EPA gives GE the OK to dredge less soil
General Electric is going to dredge one-third less of the volume of PCB-tainted soil in the Hudson River, but the company says a focus on the stretch between Troy and Northumberland will lead to the removal of two-thirds more of the chemical...
GE Can't Block Shareholder Vote On Climate-Change Costs
General Electric Co. (GE) cannot block shareholders from voting on a global-warming measure pushed by the Free Enterprise Action Fund, the Securities and Exchange Commission staff has decreed. The decision is a victory for the tiny mutual fund, which is demanding better corporate accountability regarding the cost of climate-change initiatives...
GE Healthcare today announced a predominantly battery-operated radio frequency ID (RFID) tracking system in partnership with CenTrak, Inc. of Newtown, PA. The new asset optimization solution, an innovative introduction to the marketplace, will enable healthcare facilities to reduce installation barriers and costs, compared to current RFID systems, thereby serving them to maximize return-on-investment (ROI) potential. In addition, the solution’s ability to accurately view locations at the room-level will enhance a hospital’s operational efficiency and improve overall patient care...
GE Healthcare Customers Realize Beauty of Science as Research to Be Published in Times Square
GE Healthcare, a leading global provider of automated high content analysis systems, will display winning entries from its IN Cell Analyzer(tm) Image Competition 2007 on the NBC screen in Times Square, New York on March 7 and 9, 2008...
Notable Mergers and Acquisitions of the Day 1/24 (ALY, BRNC, GE, GSIC)
Global Infrastructure Partners, a fund backed by GE and Credit Suisse Group is the new front runner in the potential buyout of U.K. waste management firm Biffa. Biffa says GIP has joined with Montagu Private Equity on the deal. TheDeal reported this news earlier this morning...
Business Books: Author says Welch's tough talk strengthened GE
Jack Welch transformed General Electric Co. from an old-economy manufacturer into a modern conglomerate, in part because of his insistence on a culture of straight talk, according to a new book by his former speechwriter...
GE attorney's class action lawsuit to go forward
A high-ranking attorney for General Electric Co. can go ahead with her class-action lawsuit against what she calls the "very male-dominated culture" in the international conglomerate, a federal judge has ruled...
EPA gives GE the OK to dredge less soil
General Electric is going to dredge one-third less of the volume of PCB-tainted soil in the Hudson River, but the company says a focus on the stretch between Troy and Northumberland will lead to the removal of two-thirds more of the chemical...
GE Can't Block Shareholder Vote On Climate-Change Costs
General Electric Co. (GE) cannot block shareholders from voting on a global-warming measure pushed by the Free Enterprise Action Fund, the Securities and Exchange Commission staff has decreed. The decision is a victory for the tiny mutual fund, which is demanding better corporate accountability regarding the cost of climate-change initiatives...
Friday, October 26, 2007
GE News (26 Oct 07)
China buys GE's 'green' push
In the two years since Stefano (Steve) Bertamini moved to Shanghai to become CEO of GE China, he has a sense that the days are less smoggy and more sunny...
Lessons From Jack Welch
Jack Welch went to the top at General Electric (NYSE:GE) GE by learning and hurdling boundaries...
Judge cuts $12 million award in GE case
A federal judge, while agreeing with a jury that found 'a significant degree of reprehensible conduct' by General Electric Co...
GE's China bank deal failed due to price: bankers
General Electric Co's two-year-long effort to buy a stake in Shenzhen Development Bank failed...
GE to spend $1 bln on ecomagination R&D this year
General Electric Co said on Tuesday it will spend about $1 billion this year on research and development into...
GE Gets Hybrid Technology Contracts
GE Global Research, the centralized research organization of the General Electric Co., said Tuesday it was awarded $6.8 million...
GE Gets $730M Contract for Wind Turbines
General Electric Co. will supply $730 million worth of wind turbines to Energias de Portugal SA...
GE CEO Immelt buys 83,000 shares
The chairman and chief executive of General Electric Co. bought 83,000 shares of common stock Monday, spending more than...
GE to upgrade Southwest Air's aviation systems
GE Aviation, a unit of General Electric Co, said on Monday it won a Southwest Airlines...
In the two years since Stefano (Steve) Bertamini moved to Shanghai to become CEO of GE China, he has a sense that the days are less smoggy and more sunny...
Lessons From Jack Welch
Jack Welch went to the top at General Electric (NYSE:GE) GE by learning and hurdling boundaries...
Judge cuts $12 million award in GE case
A federal judge, while agreeing with a jury that found 'a significant degree of reprehensible conduct' by General Electric Co...
GE's China bank deal failed due to price: bankers
General Electric Co's two-year-long effort to buy a stake in Shenzhen Development Bank failed...
GE to spend $1 bln on ecomagination R&D this year
General Electric Co said on Tuesday it will spend about $1 billion this year on research and development into...
GE Gets Hybrid Technology Contracts
GE Global Research, the centralized research organization of the General Electric Co., said Tuesday it was awarded $6.8 million...
GE Gets $730M Contract for Wind Turbines
General Electric Co. will supply $730 million worth of wind turbines to Energias de Portugal SA...
GE CEO Immelt buys 83,000 shares
The chairman and chief executive of General Electric Co. bought 83,000 shares of common stock Monday, spending more than...
GE to upgrade Southwest Air's aviation systems
GE Aviation, a unit of General Electric Co, said on Monday it won a Southwest Airlines...
