Immelt: GE will cut another $1 billion in 'difficult times'
Less than two weeks after General Electric shocked investors by reporting a 6% loss in first-quarter profits, CEO Jeff Immelt said Wednesday that he sees "even more difficult times ahead" for the economy. But at the company's annual shareholder meeting here he said U.S. capital markets have improved since the end of the first quarter...
GE hikes cost-cutting goal to $3 billion
General Electric Co chief Jeffrey Immelt said on Wednesday U.S. capital markets have improved since the end of the first quarter but the overall U.S. economic picture is unchanged, and the company has raised its 2008 cost-cutting goal by $1 billion...
Immelt works to reassure shareholders at GE's annual meeting
General Electric Co.'s annual meetings are typically upbeat affairs as executives showcase the company's successes to satisfied shareholders of one of the world's most diversified and successful companies. But after GE chief executive Jeff Immelt was lambasted earlier this month for failing to hit first-quarter goals and triggering a selloff that wiped out more than $46 billion of GE's market capitalization, Wednesday's annual meeting was essentially a mea culpa to investors and analysts alike...
GE Buys $2.5B Loan Book From Capmark Europe
With capital markets worldwide reaching for firmer footing, GE Real Estate has struck its second Pan-European mega-deal in five months for a commercial property loan book. The £1.22-billion [$2.51 billion USD] acquisition of senior and whole loans is secured by 39 performing retail and office properties, predominately in Germany...
Immelt Targets More Cuts at GE Annual Meeting (GE)
Jeff Immelt will get to explain the recent General Electric Co. (NYSE: GE) earnings SNAFU all over again today. Frankly, all we really care about at 247WallSt.com is what lies ahead rather than rehashing what we already saw. We probably won't be hanging on for every single comment this morning, but there was at least some addressing of the current climate and some remedies it seeks. For starters, the company is now targeting for $3 Billion in cost cuts rather than $2 Billion. The company also said it will more frequently review its entire portfolio, which translates to the possibilities that the company can have more spin-offs or divestitures down the road...
No credit crunch in energy, GE unit says
After investing $104 million for the acquisition of oil and natural gas reserves in the Gulf Coast, officials from GE's Energy Financial Services unit in Stamford said they're still looking to do business. With fewer financing options available because of the ever-tightening credit markets, John Schaeffer, managing director and head of the oil and gas unit at the GE division thinks his company is one of the most reliable partners for oil and gas companies in the high-demand energy sector. "There are fewer financing options out there since the subprime crisis," Schaeffer said. "The prices paid for assets have come back to a more rational level. We're now more competitive than we were when there was more inexpensive money out there."...
Wednesday, April 23, 2008
Recent News: Immelt and Shareholders, Cost-Cutting, GE Real Estate, and GE Energy Financial Services
Tuesday, April 22, 2008
Recent News: Philippines, Erie, Pensioner, Tax-Exempt Facility, Jeffert Immelt, Real Estate, ConocoPhillips, and GE Energy
GE partners local firm to build "green" living communities in Philippines
General Electric (GE) and Philippine real estate giant Ayala Land Inc. on Tuesday announced their partnership to build a massive ecologically-sustainable land project in the southern suburban of the Philippine capital of Metro Manila....
GE here at crucial time
The graffiti has been removed, garbage collected and billboards hung to invite hundreds of General Electric Co. shareholders to Erie.There's no telling if it will do anything to improve their mood.GE shareholders and executives, who will convene their annual shareholders meeting Wednesday morning, arrive at what could be a crucial time for the world's largest conglomerate...
An angry GE pensioner (Editorial)
General Electric Company CEO Jeffrey Immelt has some explaining to do at tomorrow's annual meeting in Erie, Pennsylvania in the wake of a first-quarter earnings report that rattled the stocks of shareholders, including many GE retirees in Pittsfield and Berkshire County. Unless Mr. Immelt has suddenly become incompetent, GE's difficulties suggest that the company is not immune to the economic realities that plague other companies, no matter what shareholders and top executives believe...
GE says it wants tax-exempt facility
A multimillion-dollar plant to handle toxic PCBs dredged from the bottom of the Hudson River is the focus of a tax fight between General Electric Co. and the town of Fort Edward. Town officials were stunned when GE, which is building the plant on 110 acres along the Champlain Canal, argued last month that the property should be tax-exempt, Supervisor Mitchell Suprenant said Monday....
Immelt Resists Calls to Shrink GE, Says Strategy Is `Intact'
Chief Executive Officer Jeffrey Immelt said he will resist calls to shrink General Electric Co. beyond an existing plan that includes reducing the company's consumer businesses in slowing economies. ``There are more reviews and intensity, but no real change to the strategy,'' Immelt said in an interview in advance of tomorrow's annual meeting, his first face-to-face meeting with investors since this month's surprise drop in profit. ``The strategy remains intact.''...
How real estate tripped up GE
Anyone who thinks the credit crunch will soon be behind us ought to look more closely at General Electric’s first-quarter results. While the headlines immediately following the disappointing numbers focused on GE as a bellwether for the broader economy, the company’s problems more clearly illustrate how much further real estate prices have to fall before the crunch is over...
ConocoPhillips-GE tie-up in waste water treatment
CONOCOPHILLIPS yesterday said GE Water & Process Technologies has become an equal co-venturer in the former’s Water Sustainability Centre (WSC) at the Qatar Science & Technology Park in Qatar...
GE Energy Executive to Serve on DOE-EAC
GE Energy's general manager of marketing for transmission and distribution business, John McDonald, has been invited by the US Secretary of Energy, Samuel Bodman, to serve a one-year term as a member of the US Department of Energy's Electricity Advisory Committee...
General Electric (GE) and Philippine real estate giant Ayala Land Inc. on Tuesday announced their partnership to build a massive ecologically-sustainable land project in the southern suburban of the Philippine capital of Metro Manila....
GE here at crucial time
The graffiti has been removed, garbage collected and billboards hung to invite hundreds of General Electric Co. shareholders to Erie.There's no telling if it will do anything to improve their mood.GE shareholders and executives, who will convene their annual shareholders meeting Wednesday morning, arrive at what could be a crucial time for the world's largest conglomerate...
An angry GE pensioner (Editorial)
General Electric Company CEO Jeffrey Immelt has some explaining to do at tomorrow's annual meeting in Erie, Pennsylvania in the wake of a first-quarter earnings report that rattled the stocks of shareholders, including many GE retirees in Pittsfield and Berkshire County. Unless Mr. Immelt has suddenly become incompetent, GE's difficulties suggest that the company is not immune to the economic realities that plague other companies, no matter what shareholders and top executives believe...
GE says it wants tax-exempt facility
A multimillion-dollar plant to handle toxic PCBs dredged from the bottom of the Hudson River is the focus of a tax fight between General Electric Co. and the town of Fort Edward. Town officials were stunned when GE, which is building the plant on 110 acres along the Champlain Canal, argued last month that the property should be tax-exempt, Supervisor Mitchell Suprenant said Monday....
Immelt Resists Calls to Shrink GE, Says Strategy Is `Intact'
Chief Executive Officer Jeffrey Immelt said he will resist calls to shrink General Electric Co. beyond an existing plan that includes reducing the company's consumer businesses in slowing economies. ``There are more reviews and intensity, but no real change to the strategy,'' Immelt said in an interview in advance of tomorrow's annual meeting, his first face-to-face meeting with investors since this month's surprise drop in profit. ``The strategy remains intact.''...
How real estate tripped up GE
Anyone who thinks the credit crunch will soon be behind us ought to look more closely at General Electric’s first-quarter results. While the headlines immediately following the disappointing numbers focused on GE as a bellwether for the broader economy, the company’s problems more clearly illustrate how much further real estate prices have to fall before the crunch is over...
ConocoPhillips-GE tie-up in waste water treatment
CONOCOPHILLIPS yesterday said GE Water & Process Technologies has become an equal co-venturer in the former’s Water Sustainability Centre (WSC) at the Qatar Science & Technology Park in Qatar...
GE Energy Executive to Serve on DOE-EAC
GE Energy's general manager of marketing for transmission and distribution business, John McDonald, has been invited by the US Secretary of Energy, Samuel Bodman, to serve a one-year term as a member of the US Department of Energy's Electricity Advisory Committee...
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....
Thursday, April 17, 2008
Recent News: Bond Issue and Jeffery Immelt
GE Plans $8.5 Billion Bond Sale, Biggest Since 2002 (Update3)
General Electric Co., five days after disappointing investors with an unexpected profit drop, plans to raise $8.5 billion in the largest U.S. corporate bond offering in six years.
GE, the biggest U.S. corporate borrower, enticed investors with the highest yields that it's offered since early 2002. The planned sale demonstrates that top-rated investment-grade borrowers can still raise cash even amid concern that the economy is slipping into a recession...
Asia Day Ahead: Welch Says GE's Immelt Has `Credibility Issue'
U.S. stocks rose the most in two weeks as better-than-forecast profits from Intel Corp., JPMorgan Chase & Co. and Wells Fargo & Co. eased concern that the slowing economy is dragging down earnings. Crude oil and gasoline rose to records after the Energy Department reported unexpected declines in U.S. crude inventories and refinery operating rates...
Jeff Immelt on the Nasty Surprise at GE
It's not easy grilling your boss—especially when he's in the hot seat, as Jeff Immelt has been since Apr. 11 when GE reported disappointing first-quarter earnings that took the Street by surprise. CEO Immelt, who only weeks before had been sounding bullish, apologized for the unexpected news that earnings would grow at most 5% for the year. But that didn't deter observers, including former GE CEO Jack Welch, from taking him to task. Welch told CNBC (which employs me and is part of NBC Universal, a unit of GE): "Here's the screw-up. You made a promise that you'd deliver this, and you miss three weeks later. Jeff has a credibility issue. He's getting his ass kicked." I was on my way to the Mideast, but I called Immelt, and to his credit, he agreed to an interview and never sidestepped the tough questions...
Embattled GE CEO Defends Strategy
Five days after General Electric Co. disappointed investors with a surprise first-quarter earnings slump, Chief Executive Jeffrey R. Immelt defended his strategy and dismissed cries to split up and remake the conglomerate. But even as he moves to address rising investor pressure, he came under criticism Wednesday from another important constituent: GE's high-profile former CEO, Jack Welch...
General Electric Co., five days after disappointing investors with an unexpected profit drop, plans to raise $8.5 billion in the largest U.S. corporate bond offering in six years.
GE, the biggest U.S. corporate borrower, enticed investors with the highest yields that it's offered since early 2002. The planned sale demonstrates that top-rated investment-grade borrowers can still raise cash even amid concern that the economy is slipping into a recession...
Asia Day Ahead: Welch Says GE's Immelt Has `Credibility Issue'
U.S. stocks rose the most in two weeks as better-than-forecast profits from Intel Corp., JPMorgan Chase & Co. and Wells Fargo & Co. eased concern that the slowing economy is dragging down earnings. Crude oil and gasoline rose to records after the Energy Department reported unexpected declines in U.S. crude inventories and refinery operating rates...
Jeff Immelt on the Nasty Surprise at GE
It's not easy grilling your boss—especially when he's in the hot seat, as Jeff Immelt has been since Apr. 11 when GE reported disappointing first-quarter earnings that took the Street by surprise. CEO Immelt, who only weeks before had been sounding bullish, apologized for the unexpected news that earnings would grow at most 5% for the year. But that didn't deter observers, including former GE CEO Jack Welch, from taking him to task. Welch told CNBC (which employs me and is part of NBC Universal, a unit of GE): "Here's the screw-up. You made a promise that you'd deliver this, and you miss three weeks later. Jeff has a credibility issue. He's getting his ass kicked." I was on my way to the Mideast, but I called Immelt, and to his credit, he agreed to an interview and never sidestepped the tough questions...
Embattled GE CEO Defends Strategy
Five days after General Electric Co. disappointed investors with a surprise first-quarter earnings slump, Chief Executive Jeffrey R. Immelt defended his strategy and dismissed cries to split up and remake the conglomerate. But even as he moves to address rising investor pressure, he came under criticism Wednesday from another important constituent: GE's high-profile former CEO, Jack Welch...
Wednesday, April 16, 2008
Recent News: Earnings Plungs, Shares Tempting, NBC Universal, and Jeffery Immelt
GE shares tempting after plunge: report
General Electric Co. shares, much cheaper after plunging Friday on disappointing earnings, are poised to rebound as a great play on the continued development of infrastructure globally, Barron's reported in its latest issue....
After GE's Miss, Who’s Next?
have argued for a while that US stocks are generally overvalued, as per my evaluation of General Electric. The only part of GE that has apparently performed well is Infrastructure, Financials, Medical, and Industrial have all proved to be a disappointment...
GE Will Still Shine - Barron's
General Electric’s earnings miss on Friday was a shocker even to management, and market reaction was understandable: GE has rarely disappointed the Street, and the $0.44 EPS was sharply below the $0.51 analysts expected. GE also lowered 2008 guidance from $2.43/share to $2.20-$2.30. Barron’s admits it was overly rosy on GE in June, but says investors shouldn’t throw out GE with the credit crisis bathwater. GE’s gas and wind turbines, jet engines and train units are riding the global infrastructure boom, with infrastructure accounting for 40% of GE’s earnings and a divisional 11% growth in Q1...
NBC revs up, GE stock slumps
NBCU posted a 3% year-over-year gain in operating profit and revenue in the first quarter, but the rosy numbers came against the gloomy backdrop of parent GE's results...
Two Important Lessons from GE's Earnings
In 1896, General Electric was one of the original 12 companies listed on the newly-formed Dow Jones Industrial Average. After 112 years, GE is the only original company remaining in the Dow. So when one of America's most respected — and largest — companies announced that their quarterly profits fell well short of expectations ... and warned that the rest of 2008 wasn't looking so hot ... I perked up...
GE's Immelt 'in the penalty box'?
General Electric's CEO Jeffrey Immelt is facing increasing scrutiny after last week's unpleasant earnings surprise sent the stock down 13%. GE is now trading near its 52-week low of $31.55, and major investors are not pleased...
General Electric Co. shares, much cheaper after plunging Friday on disappointing earnings, are poised to rebound as a great play on the continued development of infrastructure globally, Barron's reported in its latest issue....
After GE's Miss, Who’s Next?
have argued for a while that US stocks are generally overvalued, as per my evaluation of General Electric. The only part of GE that has apparently performed well is Infrastructure, Financials, Medical, and Industrial have all proved to be a disappointment...
GE Will Still Shine - Barron's
General Electric’s earnings miss on Friday was a shocker even to management, and market reaction was understandable: GE has rarely disappointed the Street, and the $0.44 EPS was sharply below the $0.51 analysts expected. GE also lowered 2008 guidance from $2.43/share to $2.20-$2.30. Barron’s admits it was overly rosy on GE in June, but says investors shouldn’t throw out GE with the credit crisis bathwater. GE’s gas and wind turbines, jet engines and train units are riding the global infrastructure boom, with infrastructure accounting for 40% of GE’s earnings and a divisional 11% growth in Q1...
NBC revs up, GE stock slumps
NBCU posted a 3% year-over-year gain in operating profit and revenue in the first quarter, but the rosy numbers came against the gloomy backdrop of parent GE's results...
Two Important Lessons from GE's Earnings
In 1896, General Electric was one of the original 12 companies listed on the newly-formed Dow Jones Industrial Average. After 112 years, GE is the only original company remaining in the Dow. So when one of America's most respected — and largest — companies announced that their quarterly profits fell well short of expectations ... and warned that the rest of 2008 wasn't looking so hot ... I perked up...
GE's Immelt 'in the penalty box'?
General Electric's CEO Jeffrey Immelt is facing increasing scrutiny after last week's unpleasant earnings surprise sent the stock down 13%. GE is now trading near its 52-week low of $31.55, and major investors are not pleased...
Monday, April 14, 2008
Recent News: More News about earnings dissapointment
GE LIGHTS OUT
Wall Street took it on the chin yesterday after conglomerate General Electric shocked the market with its first profit decline in years - and then wreaked further havoc when it lowered its full-year forecast. The results proved that even the all-powerful GE - whose businesses range from aircraft engines to medical devices to cable TV networks - wasn't immune to the credit crunch that has been rocking the financial sector since last summer...
GE: Immeltdown?
Investors aren't taking kindly to the earnings miss General Electric announced Friday morning. The company reported 44 cents vs. 48 cents a year ago and a consensus estimate of 51 cents. The stock is off by 12% at this time; since Jeff Immelt took over as CEO in 2001, it has fallen by nearly 20%, in a stock market that's up by 19% over the same period....
What Went Wrong at GE?
I won't go into detail because all the punditude doing that... But what I haven't heard from the punditude is the fact that GE is known for having the most managed earnings stream on the street... this never happens with them. So what changed all of the sudden? How much did things slow? Remember this is a company where insiders were buying hand over fist 1-2 months ago... So how sharply did things slow that last month?...
GE Falling Sharply - Time to Buy?
Sellers of mega blue chip General Electric are dominant in active pre-open and early regular session trading on the heels of a surprisingly weak earnings report from the conglomerate....
Stocks Plunge as GE Disappoints
Stocks plunged on Friday after General Electric reported much weaker than anticipated results, and lowered its earnings forecast for 2008, and consumer sentiment fell to a 26-year low...
Lessons of G.E.
Pondering the G.E. earnings miss yesterday leaves me with a handful of observations:
The economic downturn is accelerating. As Kathleen Shanley of Gimme Credit writes, “If there is another company that is as close a proxy for the overall economy as General Electric, we’re not aware of it.”...
Recession on: GE results flag
GENERAL Electric Company - the second-largest US company by market capitalisation - posted an unexpected 6 per cent drop in first-quarter profits on Friday, the biggest shock yet to an American industrial bellwether from the credit crisis and the latest sign the US economy may be in a recession....
Stocks fall sharply following GE results
Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points...
Wall Street took it on the chin yesterday after conglomerate General Electric shocked the market with its first profit decline in years - and then wreaked further havoc when it lowered its full-year forecast. The results proved that even the all-powerful GE - whose businesses range from aircraft engines to medical devices to cable TV networks - wasn't immune to the credit crunch that has been rocking the financial sector since last summer...
GE: Immeltdown?
Investors aren't taking kindly to the earnings miss General Electric announced Friday morning. The company reported 44 cents vs. 48 cents a year ago and a consensus estimate of 51 cents. The stock is off by 12% at this time; since Jeff Immelt took over as CEO in 2001, it has fallen by nearly 20%, in a stock market that's up by 19% over the same period....
What Went Wrong at GE?
I won't go into detail because all the punditude doing that... But what I haven't heard from the punditude is the fact that GE is known for having the most managed earnings stream on the street... this never happens with them. So what changed all of the sudden? How much did things slow? Remember this is a company where insiders were buying hand over fist 1-2 months ago... So how sharply did things slow that last month?...
GE Falling Sharply - Time to Buy?
Sellers of mega blue chip General Electric are dominant in active pre-open and early regular session trading on the heels of a surprisingly weak earnings report from the conglomerate....
Stocks Plunge as GE Disappoints
Stocks plunged on Friday after General Electric reported much weaker than anticipated results, and lowered its earnings forecast for 2008, and consumer sentiment fell to a 26-year low...
Lessons of G.E.
Pondering the G.E. earnings miss yesterday leaves me with a handful of observations:
The economic downturn is accelerating. As Kathleen Shanley of Gimme Credit writes, “If there is another company that is as close a proxy for the overall economy as General Electric, we’re not aware of it.”...
Recession on: GE results flag
GENERAL Electric Company - the second-largest US company by market capitalisation - posted an unexpected 6 per cent drop in first-quarter profits on Friday, the biggest shock yet to an American industrial bellwether from the credit crisis and the latest sign the US economy may be in a recession....
Stocks fall sharply following GE results
Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points...
Recent News: Earnings Miss
US open: GE figures instigate sell-off
Wall Street is heavily lower after poor figures from General Electric raised concerns about broader corporate earnings...
GE Plunges as Profit Misses Estimates, Forecast Cut (Update9)
General Electric Co. slumped the most in more than two decades after profit unexpectedly fell and Chief Executive Officer Jeffrey Immelt cut the company's annual forecast just a month after pledging to meet it...
For GE, the world is not enough
So much for a weak dollar and stronger global economy helping to lift results for large multinational companies like General Electric. GE did report that international sales grew 22% in the first quarter and that revenue from developing countries soared 38%. But that was not enough to save GE from reporting total sales and earnings that missed analysts' forecasts....
Drop in GE profit jolts market
An unexpected drop in first-quarter profit at General Electric (NYSE: GE) caught the market by surprise Friday which in turn caused stocks across the Big Board to tumble....
Midday Market Update: GE Misses the Mark and Sends Stocks Lower
.S. stocks posted their biggest decline in two weeks early today (Friday) after an unexpected profit decline by General Electric Co. (GE) reignited worries that the credit crunch is causing more damage than investors realize....
GE shocks with profits warning
GE, the US industrial conglomerate and one of the world’s largest companies, today issued a shock profits warning that it would miss full-year forecasts. Jerome Heppelmann, portfolio manager at Liberty Ridge Capital, told Reuters: “It’s confirmation that we’re in a recession.” ...
4th UPDATE: GE Stuns Market As Profits Fall Short
General Electric Co. (GE) reported a stunning 5.8% drop in first-quarter net income amid weakness in its sprawling financial-services operations and issued a disappointing forecast for the rest of the year, delivering another blow to markets already concerned about a U.S.-led economic slowdown....
Moooy's affirms GE's ratings following 1Q earnings miss
Moody's affirmed General Electric Co.'s ratings following the Fairfield, Conn.-based diversified industrial giant reported first-quarter earnings well below Wall Street expectations...
Wall Street is heavily lower after poor figures from General Electric raised concerns about broader corporate earnings...
GE Plunges as Profit Misses Estimates, Forecast Cut (Update9)
General Electric Co. slumped the most in more than two decades after profit unexpectedly fell and Chief Executive Officer Jeffrey Immelt cut the company's annual forecast just a month after pledging to meet it...
For GE, the world is not enough
So much for a weak dollar and stronger global economy helping to lift results for large multinational companies like General Electric. GE did report that international sales grew 22% in the first quarter and that revenue from developing countries soared 38%. But that was not enough to save GE from reporting total sales and earnings that missed analysts' forecasts....
Drop in GE profit jolts market
An unexpected drop in first-quarter profit at General Electric (NYSE: GE) caught the market by surprise Friday which in turn caused stocks across the Big Board to tumble....
Midday Market Update: GE Misses the Mark and Sends Stocks Lower
.S. stocks posted their biggest decline in two weeks early today (Friday) after an unexpected profit decline by General Electric Co. (GE) reignited worries that the credit crunch is causing more damage than investors realize....
GE shocks with profits warning
GE, the US industrial conglomerate and one of the world’s largest companies, today issued a shock profits warning that it would miss full-year forecasts. Jerome Heppelmann, portfolio manager at Liberty Ridge Capital, told Reuters: “It’s confirmation that we’re in a recession.” ...
4th UPDATE: GE Stuns Market As Profits Fall Short
General Electric Co. (GE) reported a stunning 5.8% drop in first-quarter net income amid weakness in its sprawling financial-services operations and issued a disappointing forecast for the rest of the year, delivering another blow to markets already concerned about a U.S.-led economic slowdown....
Moooy's affirms GE's ratings following 1Q earnings miss
Moody's affirmed General Electric Co.'s ratings following the Fairfield, Conn.-based diversified industrial giant reported first-quarter earnings well below Wall Street expectations...
Wednesday, April 9, 2008
Market Watch: GE's quarterly results are looking solid
GE's quarterly results are looking solid
Company calls overseas growth its primary earnings driver
Fairfield, Conn.-based GE is set to report its first-quarter results Friday, and analysts are expecting a profit of 51 cents a share, on average, according to FactSet. In the year-ago quarter, the industrial conglomerate earned 44 cents a share.
On Jan. 18, the company provided a first-quarter earnings forecast of 50 to 53 cents a share.
(Read the full article here)
http://www.marketwatch.com/
Company calls overseas growth its primary earnings driver
Fairfield, Conn.-based GE is set to report its first-quarter results Friday, and analysts are expecting a profit of 51 cents a share, on average, according to FactSet. In the year-ago quarter, the industrial conglomerate earned 44 cents a share.
On Jan. 18, the company provided a first-quarter earnings forecast of 50 to 53 cents a share.
(Read the full article here)
http://www.marketwatch.com/
Recent News: Annual Meeting, GE Sensing Inspection, Short Interest in GE, GE Money, Karan Bhatia, Airline Regulators - GE Aviation, Fluorescent Bulbs
Airport prepares for arrival of GE's jets, corporate pilots
Erie International Airport officials are trying to make sure the red carpet reaches all the way to the tarmac when visitors fly in for General Electric Co.'s annual shareholders meeting this month."Our service is going to be top-notch," said Joe Ceresa, line service manager at North Coast Air, the company that sells fuel and serves private planes at Erie International....
GE offering new humidity and temperature sensor
On April 3, GE Sensing & Inspection Technologies announced ChipCap, a next-generation relative humidity and temperature sensor for the HVAC, automotive, medical and appliance industries. Overall, ChipCap can reduce the cost of humidity and temperature sensor integration by 50 percent or more. The product is fully factory calibrated, eliminating end user calibration, the costly calibration process and need for expensive calibration equipment. This can ultimately save the end user $30,000 to $50,000 in capital equipment costs and even more in calibration labor...
A short interest increase at GE, a bet against economy?
The short interest in General Electric rose sharply in the period ending March 31. The number compares to share short for March 14. GE's short interest rose 13 million shares to 57.9 million. GE's stock has been doing relatively well recently. It has moved up 3% over the past three months while the S&P has fallen over 5%. Shares in the company are still considered a "safe haven" for investors when the economy is in poor condition....
GE consumer finance unit gives up on U.S. consumer
GE Money, the consumer finance arm of U.S.- based based industrial stalwart General Electric, is pulling back from doing business in its homeland, where it sees scant growth opportunities, to further expand its global footprint. The subsidiary, founded in the 1930s to finance home appliances during the Great Depression, already operates in more than 55 countries. But with growth in the U.S. at a standstill, it has been forced to refocus on other areas to boost returns....
Karan Bhatia lands top job in GE
Former senior Bush administration official Karan Bhatia has landed a top job with General Electric. He has been named vice president and senior counsel in the conglomerate's international law and policy division...
Banco Santander to acquire GE Money’s UK motor finance and card businesses
The Spanish Banco Santander has agreed to buy GE Money’s automotive finance unit in the UK together with GE Money businesses in Germany, Finland and Austria. In turn, GE Commercial Finance will acquire Interbanca, the Italian commercial bank acquired by Santander as part of its joint acquisition of the Dutch bank ABN Amro with Fortis and RBS...
Airline Regulators Grapple With Engine-Shutdown Peril
As a Qatar Airways flight dodged thunderstorms on approach to Shanghai in 2006, it encountered a problem that, until recently, was considered virtually impossible: nearly four miles above the earth, both engines of the big Airbus A330 shut down at the same time.
The engines quickly restarted and the pilots managed a safe landing. But the incident, along with similar ones before it, set off alarm bells throughout the industry because of the cause: ice inside the engines....
FYI: GE says small fluorescent bulbs can be trashed
Fluorescent light bulbs (compact and long tube type) have become popular ways of saving money on the electric bill. How can they be disposed of safely?...
Erie International Airport officials are trying to make sure the red carpet reaches all the way to the tarmac when visitors fly in for General Electric Co.'s annual shareholders meeting this month."Our service is going to be top-notch," said Joe Ceresa, line service manager at North Coast Air, the company that sells fuel and serves private planes at Erie International....
GE offering new humidity and temperature sensor
On April 3, GE Sensing & Inspection Technologies announced ChipCap, a next-generation relative humidity and temperature sensor for the HVAC, automotive, medical and appliance industries. Overall, ChipCap can reduce the cost of humidity and temperature sensor integration by 50 percent or more. The product is fully factory calibrated, eliminating end user calibration, the costly calibration process and need for expensive calibration equipment. This can ultimately save the end user $30,000 to $50,000 in capital equipment costs and even more in calibration labor...
A short interest increase at GE, a bet against economy?
The short interest in General Electric rose sharply in the period ending March 31. The number compares to share short for March 14. GE's short interest rose 13 million shares to 57.9 million. GE's stock has been doing relatively well recently. It has moved up 3% over the past three months while the S&P has fallen over 5%. Shares in the company are still considered a "safe haven" for investors when the economy is in poor condition....
GE consumer finance unit gives up on U.S. consumer
GE Money, the consumer finance arm of U.S.- based based industrial stalwart General Electric, is pulling back from doing business in its homeland, where it sees scant growth opportunities, to further expand its global footprint. The subsidiary, founded in the 1930s to finance home appliances during the Great Depression, already operates in more than 55 countries. But with growth in the U.S. at a standstill, it has been forced to refocus on other areas to boost returns....
Karan Bhatia lands top job in GE
Former senior Bush administration official Karan Bhatia has landed a top job with General Electric. He has been named vice president and senior counsel in the conglomerate's international law and policy division...
Banco Santander to acquire GE Money’s UK motor finance and card businesses
The Spanish Banco Santander has agreed to buy GE Money’s automotive finance unit in the UK together with GE Money businesses in Germany, Finland and Austria. In turn, GE Commercial Finance will acquire Interbanca, the Italian commercial bank acquired by Santander as part of its joint acquisition of the Dutch bank ABN Amro with Fortis and RBS...
Airline Regulators Grapple With Engine-Shutdown Peril
As a Qatar Airways flight dodged thunderstorms on approach to Shanghai in 2006, it encountered a problem that, until recently, was considered virtually impossible: nearly four miles above the earth, both engines of the big Airbus A330 shut down at the same time.
The engines quickly restarted and the pilots managed a safe landing. But the incident, along with similar ones before it, set off alarm bells throughout the industry because of the cause: ice inside the engines....
FYI: GE says small fluorescent bulbs can be trashed
Fluorescent light bulbs (compact and long tube type) have become popular ways of saving money on the electric bill. How can they be disposed of safely?...
Friday, April 4, 2008
Recent News: AMEX buys Payment Services, GE Water, GE Money, and 1Q 2008 Earnings
Amex Buys GE Corporate Payment Services
American Express last week completed its $1.1 billion cash acquisition of GE Money Corporate Payment Services, a portfolio that serves more than 300 corporate accounts with 2.5 million MasterCard commercial cards and a patented electronic payment and settlement tool called vPayment...
GE Mobile Water Solution Helps Largest North American Refiner Avoid Capacity Shortage
GE Water & Process Technologies' Mobile Seawater Desalination Solution is providing Valero Energy Corporation's (NYSE:VLO) 280,000-barrel-per-day Aruba refinery with high purity water -- enabling the refinery to avoid a costly plant capacity shortage while scheduled maintenance is completed to the facility's primary seawater desalination system...
General Electric (NYSE:GE) to Release Q1 2008 Earnings April 11
General Electric (NYSE:GE) will release the first quarter earnings for 2008 on Friday, April 11.
A diversified technology, media and financial services company, General Electric offers products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. The company services customers in over 100 countries....
GE Money donates $50,000 to Stamford Hospital in memory of former CIO
Stamford Hospital recently received a $50,000 donation from GE Money of Stamford in memory of a former employee, Leonard Kim, who lost his battle with lung cancer in 2005. Kim was a patient at the hospital’s Bennett Cancer Center . The funds were earmarked for the hospital’s Outpatient Chemotherapy Infusion Center in the hospital’s Oncology Unit, located on Main 3 North...
American Express last week completed its $1.1 billion cash acquisition of GE Money Corporate Payment Services, a portfolio that serves more than 300 corporate accounts with 2.5 million MasterCard commercial cards and a patented electronic payment and settlement tool called vPayment...
GE Mobile Water Solution Helps Largest North American Refiner Avoid Capacity Shortage
GE Water & Process Technologies' Mobile Seawater Desalination Solution is providing Valero Energy Corporation's (NYSE:VLO) 280,000-barrel-per-day Aruba refinery with high purity water -- enabling the refinery to avoid a costly plant capacity shortage while scheduled maintenance is completed to the facility's primary seawater desalination system...
General Electric (NYSE:GE) to Release Q1 2008 Earnings April 11
General Electric (NYSE:GE) will release the first quarter earnings for 2008 on Friday, April 11.
A diversified technology, media and financial services company, General Electric offers products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. The company services customers in over 100 countries....
GE Money donates $50,000 to Stamford Hospital in memory of former CIO
Stamford Hospital recently received a $50,000 donation from GE Money of Stamford in memory of a former employee, Leonard Kim, who lost his battle with lung cancer in 2005. Kim was a patient at the hospital’s Bennett Cancer Center . The funds were earmarked for the hospital’s Outpatient Chemotherapy Infusion Center in the hospital’s Oncology Unit, located on Main 3 North...
Thursday, April 3, 2008
Recent News: Green Effie Awards, Navy Contract, GE Money, GE Sensing & Inspections, GE Aviation, and New Water Heater
GE, HSBC, Wal-Mart To Get Green Effie Awards
INAUGURAL WINNERS OF THE GREEN Effie Award, which honors effective eco-marketing, were announced today. Winning campaigns for GE, HSBC and Wal-Mart will receive gold, silver and bronze awards in June...
Navy contract gives new life to old GE plant
The ceremonial groundbreaking for a testing facility for electric turbines got the full silver-spade treatment in Fitchburg last week — and with good reason. The $2.1 million facility brings the city another step toward healing the economic and psychological scars left by the closing of the General Electric steam turbine plant a decade ago...
GE Money buys AgroConsult Bohemia
The financial group GE Money, which comprises GE Money Bank, among others, bought 100 percent of consulting company AgroConsult Bohemia, which it believes will reinforce consulting services in the field of European Union and state budget subsidies, the bank said in a press release Wednesday...
GE Opens Non-Destructive Testing Display
Today, GE Sensing & Inspection Technologies opens its customer display area at GE Aviation’s Customer Technical Education Center (CTEC) in Cincinnati, Ohio. CTEC is GE Aviation's state-of-the art training facility, with a full-time staff of instructors who provide engine maintenance training for customer personnel...
GE's New Water Heater Could Kill 30 Coal Plants
Y'know what's dumb...until today, Energy Star didn't regulate water heaters at all. They're the most energy-hungry single appliance in the home, and are responsible for about 17% of residential energy use. But because of a lack of consensus on how they should be regulated, and resistance from industry, their efficiency went completely unregulated....
INAUGURAL WINNERS OF THE GREEN Effie Award, which honors effective eco-marketing, were announced today. Winning campaigns for GE, HSBC and Wal-Mart will receive gold, silver and bronze awards in June...
Navy contract gives new life to old GE plant
The ceremonial groundbreaking for a testing facility for electric turbines got the full silver-spade treatment in Fitchburg last week — and with good reason. The $2.1 million facility brings the city another step toward healing the economic and psychological scars left by the closing of the General Electric steam turbine plant a decade ago...
GE Money buys AgroConsult Bohemia
The financial group GE Money, which comprises GE Money Bank, among others, bought 100 percent of consulting company AgroConsult Bohemia, which it believes will reinforce consulting services in the field of European Union and state budget subsidies, the bank said in a press release Wednesday...
GE Opens Non-Destructive Testing Display
Today, GE Sensing & Inspection Technologies opens its customer display area at GE Aviation’s Customer Technical Education Center (CTEC) in Cincinnati, Ohio. CTEC is GE Aviation's state-of-the art training facility, with a full-time staff of instructors who provide engine maintenance training for customer personnel...
GE's New Water Heater Could Kill 30 Coal Plants
Y'know what's dumb...until today, Energy Star didn't regulate water heaters at all. They're the most energy-hungry single appliance in the home, and are responsible for about 17% of residential energy use. But because of a lack of consensus on how they should be regulated, and resistance from industry, their efficiency went completely unregulated....
Wednesday, April 2, 2008
Recent News: GE Energy Finance, Corporate Treasuries, GE Aviation, and GE Security
GE's energy finance unit in partnership with Union Gas to buy oil and gas
General Electric's energy financial services unit Tuesday said it formed a partnership with a subsidiary of Union Gas Corp. to buy oil and gas reserves for $115 million...
GE, AT&T Anticipate Rising Rates, Tilt to 10-Years
Corporate treasurers are increasing sales of long-term investment-grade bonds for the first time in a decade, a sign they're betting U.S. borrowing costs will rise as the Federal Reserve slows the pace of interest-rate cuts...
GE Aviation's GEnx engine wins FAA certification
The GEnx engine designed by GE Aviation has received the Federal Aviation Administration's airworthiness certification, the company said Monday. The certification caps a two-year ground- and flight-testing program for the engine, which will power Boeing's 787 Dreamliner, GE Aviation said in a news release...
Frost & Sullivan Recognizes GE Security for Video Surveillance Vision
Based on its recent analysis of the video surveillance market, Frost & Sullivan recognizes GE Security with the 2008 North American Frost & Sullivan Award for Video Surveillance Solutions Company of the year...
General Electric's energy financial services unit Tuesday said it formed a partnership with a subsidiary of Union Gas Corp. to buy oil and gas reserves for $115 million...
GE, AT&T Anticipate Rising Rates, Tilt to 10-Years
Corporate treasurers are increasing sales of long-term investment-grade bonds for the first time in a decade, a sign they're betting U.S. borrowing costs will rise as the Federal Reserve slows the pace of interest-rate cuts...
GE Aviation's GEnx engine wins FAA certification
The GEnx engine designed by GE Aviation has received the Federal Aviation Administration's airworthiness certification, the company said Monday. The certification caps a two-year ground- and flight-testing program for the engine, which will power Boeing's 787 Dreamliner, GE Aviation said in a news release...
Frost & Sullivan Recognizes GE Security for Video Surveillance Vision
Based on its recent analysis of the video surveillance market, Frost & Sullivan recognizes GE Security with the 2008 North American Frost & Sullivan Award for Video Surveillance Solutions Company of the year...
Tuesday, April 1, 2008
Recent News: New GE Commercial, GE Healthcare, Diversification, and Olympics
GE's 'Love Story' enchants
More than anything else, spring -- if it ever does arrive in Chicago -- cries out for a winning love story. Right on cue, General Electric and its ad agency BBDO/New York have delivered a memorable one in a new commercial that charms in so many ways. "Love Story," as it's simply titled, delights, first and foremost, because it does indeed have a story to tell. And as we've oft stated, memorable advertising happens when good stories are well told....
IMV Cheers GE Cardiology Service, Proactive Monitoring
GE Healthcare has taken many steps to bolster its service offerings and, as a result, currently stands as the top rated vendor in Overall OEM Service Performance for X-Ray Cardiology & Angiography service, according to IMV ServiceTrak, a leading independent third-party research firm. GE Cardiovascular Service was top ranked in 12 additional X-Ray Cardiology categories including OEM Service Follow-up, Timeliness of Arrival On-Site and shared the #1 ranking for Service Performance Related to Charge...
GE is diversified, but it doesn't diversify your stocks
Q: Does General Electric stock add any benefit to a portfolio that already contains a collection of large U.S. stocks? A: If you've been investing for a while, you've probably seen firsthand how diversification can be a big benefit.
U.S. Olympic Committee and GE Announce Research Partnership to Measure Benefits of Advanced Ultrasound Technology on U.S. Olympic Athletes and Hopefuls for Beijing 2008 Olympic Games
In preparation for the Beijing 2008 Olympic Games, the U.S. Olympic Committee and the General Electric Company (NYSE:GE), a Worldwide Partner of the Olympic Games, announced today two research programs aimed at demonstrating that health monitoring and early intervention leads to injury prevention and enhanced health and sports performances for athletes....
More than anything else, spring -- if it ever does arrive in Chicago -- cries out for a winning love story. Right on cue, General Electric and its ad agency BBDO/New York have delivered a memorable one in a new commercial that charms in so many ways. "Love Story," as it's simply titled, delights, first and foremost, because it does indeed have a story to tell. And as we've oft stated, memorable advertising happens when good stories are well told....
IMV Cheers GE Cardiology Service, Proactive Monitoring
GE Healthcare has taken many steps to bolster its service offerings and, as a result, currently stands as the top rated vendor in Overall OEM Service Performance for X-Ray Cardiology & Angiography service, according to IMV ServiceTrak, a leading independent third-party research firm. GE Cardiovascular Service was top ranked in 12 additional X-Ray Cardiology categories including OEM Service Follow-up, Timeliness of Arrival On-Site and shared the #1 ranking for Service Performance Related to Charge...
GE is diversified, but it doesn't diversify your stocks
Q: Does General Electric stock add any benefit to a portfolio that already contains a collection of large U.S. stocks? A: If you've been investing for a while, you've probably seen firsthand how diversification can be a big benefit.
U.S. Olympic Committee and GE Announce Research Partnership to Measure Benefits of Advanced Ultrasound Technology on U.S. Olympic Athletes and Hopefuls for Beijing 2008 Olympic Games
In preparation for the Beijing 2008 Olympic Games, the U.S. Olympic Committee and the General Electric Company (NYSE:GE), a Worldwide Partner of the Olympic Games, announced today two research programs aimed at demonstrating that health monitoring and early intervention leads to injury prevention and enhanced health and sports performances for athletes....
Monday, March 31, 2008
Recent News: GE Healthcare and the Olympics
Sponsor Spotlight: Coke, GE Respond to Olympic Protests
The activists of Dream for Darfur are putting rhetoric above action, writes Coke VP Tom Mattia in an editorial in Advertising Age magazine. The public affairs and communications executive says Coke had worked to address suffering in Darfur for nearly a year before Dream for Darfur's campaign began in June 2007. The company continues to support delivery of supplies and health care and efforts to end the fighting, Mattia writes. Coke has made investments "to address the conflict's water issues" to the tune of $5 million, he adds...
GE, US Olympic Committee Announce Research Programs On US Athletes
The U.S. Olympic Committee, or USOC, and General Electric Co. unveiled two research programs to demonstrate that health monitoring and early intervention leads to injury prevention, better health and performances by athletes. The partners also noted that the studies are continuations from research programs at the Torino 2006 Olympic Winter Games. ...
The activists of Dream for Darfur are putting rhetoric above action, writes Coke VP Tom Mattia in an editorial in Advertising Age magazine. The public affairs and communications executive says Coke had worked to address suffering in Darfur for nearly a year before Dream for Darfur's campaign began in June 2007. The company continues to support delivery of supplies and health care and efforts to end the fighting, Mattia writes. Coke has made investments "to address the conflict's water issues" to the tune of $5 million, he adds...
GE, US Olympic Committee Announce Research Programs On US Athletes
The U.S. Olympic Committee, or USOC, and General Electric Co. unveiled two research programs to demonstrate that health monitoring and early intervention leads to injury prevention, better health and performances by athletes. The partners also noted that the studies are continuations from research programs at the Torino 2006 Olympic Winter Games. ...
Friday, March 28, 2008
Recent News: GE Aviation Fin. Services - China, American Express, Ecomagination, and GE Money.
GE lease unit to buy 5 China-made regional jets
General Electric's aircraft leasing arm has signed a preliminary agreement to buy five of China's domestically developed ARJ21 regional jets, the first order for the aircraft from a major foreign customer....
American Express buys GE card unit; Utah workers can keep jobs
About 350 General Electric employees in Utah will soon work for American Express. American Express Co. said Thursday it agreed to buy General Electric Co.'s corporate charge-card unit, Corporate Payment Services, for $1.1 billion in cash in order to expand lending for business customers. The majority of Corporate Payment Services' 350 employees are based in Taylorsville, and they will have the opportunity to keep their jobs. The unit will continue to operate from its current location at 4246 S. Riverboat Drive....
GE's Ecomagination platform
At a time when most large corporations across the world are still paying mere lip service to sustainability, and climate change, there are thankfully some exceptions such as GE, DuPont, BP who have turned “green” issues from being peripheral, yet unavoidable corporate social responsibility obligations to a cornerstone of their future business plans. And the incredibly quick commercial success the $175-billion General Electric has tasted in its ambitious plans to turn every part of its gargantuan operations environmentally sustainable is proof that green begets greenbacks...
GE unit shops credit assets
General Electric Co. is shopping Canadian assets of GE Money, which includes its near-prime alternative mortgage lending business, as it restructures its global retail, banking and consumer financing business, according to sources...
General Electric's aircraft leasing arm has signed a preliminary agreement to buy five of China's domestically developed ARJ21 regional jets, the first order for the aircraft from a major foreign customer....
American Express buys GE card unit; Utah workers can keep jobs
About 350 General Electric employees in Utah will soon work for American Express. American Express Co. said Thursday it agreed to buy General Electric Co.'s corporate charge-card unit, Corporate Payment Services, for $1.1 billion in cash in order to expand lending for business customers. The majority of Corporate Payment Services' 350 employees are based in Taylorsville, and they will have the opportunity to keep their jobs. The unit will continue to operate from its current location at 4246 S. Riverboat Drive....
GE's Ecomagination platform
At a time when most large corporations across the world are still paying mere lip service to sustainability, and climate change, there are thankfully some exceptions such as GE, DuPont, BP who have turned “green” issues from being peripheral, yet unavoidable corporate social responsibility obligations to a cornerstone of their future business plans. And the incredibly quick commercial success the $175-billion General Electric has tasted in its ambitious plans to turn every part of its gargantuan operations environmentally sustainable is proof that green begets greenbacks...
GE unit shops credit assets
General Electric Co. is shopping Canadian assets of GE Money, which includes its near-prime alternative mortgage lending business, as it restructures its global retail, banking and consumer financing business, according to sources...
Recent News: GE to buy Boeing Aircraft, China, GE Healthcare, GE Real Estate, and Locomotives in Serbia
GE in talks for 40 to 50 Boeing planes: Bloomberg
General Electric Co, the world's No. 1 aircraft lessor, is in talks with Boeing Co to buy 40 to 50 of its 737 jetliners to meet demand from airlines upgrading their fleets, Bloomberg said on Monday, citing a person familiar with the negotiations....
GE Unit May Buy at Least 40 Boeing 737s, Person Says
General Electric Co., the world's biggest aircraft lessor, is in talks with Boeing Co. to buy 40 to 50 of its 737 jetliners to meet demand from airlines upgrading their fleets, a person familiar with the negotiations said...
Group says GE supplier in China subjects workers to toxins
A new report says a Chinese factory that makes light bulbs for General Electric Co. subjects many of its employees to 64-hour work weeks and toxic mercury used in the production process...
GE Real Estate Buys 206,000-SF Office Bldg. in Houston
GE Real Estate purchased Oak Park Office Center II, a 206,362-square-foot Class A office building in Houston, TX, from Realty Associates Oak Park II LP, a development venture between TA Associates Realty and Myers, Crow & Saviers Ltd. for an undisclosed amount. Harris County Appraisal District values the property at about $16 million, or about $77.50 per square foot...
GE Healthcare Completes Acquisition of VersaMed Corporation
GE Healthcare, a unit of General Electric Company, has completed the acquisition of VersaMed Corporation, a provider of portable critical care ventilators for respiratory care...
Serbia: GE might participate in modernisation of Serbian railways
Director of the Serbian railways Zeleznice Srbije Milanko Sarancic and head of General Electric (GE) in South East Europe Giuseppe Recchi talked today in Belgrade about the possibility of GE taking part in the electrification of the Nis-Dimitrovgrad line....
General Electric Co, the world's No. 1 aircraft lessor, is in talks with Boeing Co to buy 40 to 50 of its 737 jetliners to meet demand from airlines upgrading their fleets, Bloomberg said on Monday, citing a person familiar with the negotiations....
GE Unit May Buy at Least 40 Boeing 737s, Person Says
General Electric Co., the world's biggest aircraft lessor, is in talks with Boeing Co. to buy 40 to 50 of its 737 jetliners to meet demand from airlines upgrading their fleets, a person familiar with the negotiations said...
Group says GE supplier in China subjects workers to toxins
A new report says a Chinese factory that makes light bulbs for General Electric Co. subjects many of its employees to 64-hour work weeks and toxic mercury used in the production process...
GE Real Estate Buys 206,000-SF Office Bldg. in Houston
GE Real Estate purchased Oak Park Office Center II, a 206,362-square-foot Class A office building in Houston, TX, from Realty Associates Oak Park II LP, a development venture between TA Associates Realty and Myers, Crow & Saviers Ltd. for an undisclosed amount. Harris County Appraisal District values the property at about $16 million, or about $77.50 per square foot...
GE Healthcare Completes Acquisition of VersaMed Corporation
GE Healthcare, a unit of General Electric Company, has completed the acquisition of VersaMed Corporation, a provider of portable critical care ventilators for respiratory care...
Serbia: GE might participate in modernisation of Serbian railways
Director of the Serbian railways Zeleznice Srbije Milanko Sarancic and head of General Electric (GE) in South East Europe Giuseppe Recchi talked today in Belgrade about the possibility of GE taking part in the electrification of the Nis-Dimitrovgrad line....
Recent News: GE Real Estate, GE Aviation, GE in Japan, Global Growth, GE Energy in IL & TX, Carbon Emissions, and GE Water in Turkey
GE Invests $18M in Two Apartment Complexes
GE Real Estate of Norwalk, CT has made an equity investment of $17.8 million with partner BH Equities to acquire two adjacent Class A multifamily assets located in this newly developed community 12 miles north of North Dallas. The properties are Benton Pointe, a 456-unit, three-story garden apartment complex at 425 Benton Dr., and Lansbrook at Twin Creek, a 288-unit, two-story garden apartment complex at 505 Benton Dr....
GE Aviation, Rolls-Royce complete testing phase for F136 engine
The F136 engine being developed by GE Aviation and Rolls-Royce for the U.S. Joint Strike Fighter (F-35) program, has moved another step toward production, the companies said....
Japanese biomass fires up GE engines
Two General Electric Jenbacher gas engines fueled by gasified wood chips are operating at Japan’s largest wood gas-to-energy plant, producing 2 megawatts of electricity for local power 400 kilometers north of Tokyo...
GE looking overseas to find growth
Worried about the U.S. economy? Go global.That's the philosophy of the massive conglomerate, which is globalizing all of its businesses. Overseas sales accounted for more than half of GE's total revenue for the first time last year, and there is likely more growth ahead....
GE Finalizes its Exit from Japanese Consumer Finance
An auction for General Electric Co.’s consumer finance business in Japan is entering its final stage, signaling the latest stage of consolidation of the ailing industry....
GE invests in Texas, Illinois wind projects
GE Energy Financial Services, a unit of GE, is partnering for the third time with leading global wind power developer Invenergy Wind LLC, by investing in Illinois and Texas wind farms that will produce emissions-free electricity equivalent to taking 96,000 average US cars off the road. Together, the two projects will produce nearly 250 megawatts of power...
Ahead of the Pack
General Electric Co. Chairman and CEO Jeffrey R. Immelt has become one of the country's leading advocates of government-mandated caps on carbon emissions. Not because he's an environmentalist -- he says he isn't -- but because he feels government will impose those caps someday so business should get out in front on the issue...
GE has plans for desalination facilities in Turkey
Kürşat Özkan, General Electric’s regional executive for Turkey and southwest Asia, has said that his company has been working on a number of projects to desalinate sea water and to recycle used water, moves of critical importance as climatologists suggest Turkey will be countries facing serious water shortages in 20 to 25 years....
GE Real Estate of Norwalk, CT has made an equity investment of $17.8 million with partner BH Equities to acquire two adjacent Class A multifamily assets located in this newly developed community 12 miles north of North Dallas. The properties are Benton Pointe, a 456-unit, three-story garden apartment complex at 425 Benton Dr., and Lansbrook at Twin Creek, a 288-unit, two-story garden apartment complex at 505 Benton Dr....
GE Aviation, Rolls-Royce complete testing phase for F136 engine
The F136 engine being developed by GE Aviation and Rolls-Royce for the U.S. Joint Strike Fighter (F-35) program, has moved another step toward production, the companies said....
Japanese biomass fires up GE engines
Two General Electric Jenbacher gas engines fueled by gasified wood chips are operating at Japan’s largest wood gas-to-energy plant, producing 2 megawatts of electricity for local power 400 kilometers north of Tokyo...
GE looking overseas to find growth
Worried about the U.S. economy? Go global.That's the philosophy of the massive conglomerate, which is globalizing all of its businesses. Overseas sales accounted for more than half of GE's total revenue for the first time last year, and there is likely more growth ahead....
GE Finalizes its Exit from Japanese Consumer Finance
An auction for General Electric Co.’s consumer finance business in Japan is entering its final stage, signaling the latest stage of consolidation of the ailing industry....
GE invests in Texas, Illinois wind projects
GE Energy Financial Services, a unit of GE, is partnering for the third time with leading global wind power developer Invenergy Wind LLC, by investing in Illinois and Texas wind farms that will produce emissions-free electricity equivalent to taking 96,000 average US cars off the road. Together, the two projects will produce nearly 250 megawatts of power...
Ahead of the Pack
General Electric Co. Chairman and CEO Jeffrey R. Immelt has become one of the country's leading advocates of government-mandated caps on carbon emissions. Not because he's an environmentalist -- he says he isn't -- but because he feels government will impose those caps someday so business should get out in front on the issue...
GE has plans for desalination facilities in Turkey
Kürşat Özkan, General Electric’s regional executive for Turkey and southwest Asia, has said that his company has been working on a number of projects to desalinate sea water and to recycle used water, moves of critical importance as climatologists suggest Turkey will be countries facing serious water shortages in 20 to 25 years....
Recent News: GE Energy Wind Farm, NBE & GE Healthcare, GE Water, Bloomington Plant, Defensive Play and Trading Sideways
GE Energy invests in two new wind farms
Greenbang remembers a bygone era when wind was just good for kite flying, drying clothes and sailing. Pah, stupid wind. What good was it to humanity then? Selfish, Greenbang reckons....
NBC and GE Healthcare team up on vision for patient engagement
A partnership between GE Healthcare and NBC Universal is part of GE's vision to get patients more engaged in their healthcare through a combination of IT and online content....
How GE Water streamlined its events
In 2006, General Electric Water and Process Technologies, a division of GE that supplies water treatment, wastewater treatment and process systems solutions, was a conglomeration of several different companies it had acquired over the years. Each of those companies brought some baggage with them....
Workers to take over GE plant in Bloomington?
Rather than seeing the General Electric Co. refrigerator plant in Bloomington close, the Monroe County Economic Development Commission plans to study whether it would make sense for the employees to buy and operate the site....
General Electric (GE) -- a good, defensive play
General Electric Co. shares gained 4.3% by 1 p.m. following an upgrade from Merrill Lynch to Buy from Neutral. Analyst John G. Inch said GE seems to be a good defensive play in today's climate and that its range of businesses and large global exposure (more than half its revenue comes from outside the U.S) will help it weather a U.S. recession...
In down market, sideways GE shares look good: investors
For most of the past three years, investors looking at General Electric Co., have had a common complaint -- the shares were "trading sideways," showing little movement of any kind. ...
Greenbang remembers a bygone era when wind was just good for kite flying, drying clothes and sailing. Pah, stupid wind. What good was it to humanity then? Selfish, Greenbang reckons....
NBC and GE Healthcare team up on vision for patient engagement
A partnership between GE Healthcare and NBC Universal is part of GE's vision to get patients more engaged in their healthcare through a combination of IT and online content....
How GE Water streamlined its events
In 2006, General Electric Water and Process Technologies, a division of GE that supplies water treatment, wastewater treatment and process systems solutions, was a conglomeration of several different companies it had acquired over the years. Each of those companies brought some baggage with them....
Workers to take over GE plant in Bloomington?
Rather than seeing the General Electric Co. refrigerator plant in Bloomington close, the Monroe County Economic Development Commission plans to study whether it would make sense for the employees to buy and operate the site....
General Electric (GE) -- a good, defensive play
General Electric Co. shares gained 4.3% by 1 p.m. following an upgrade from Merrill Lynch to Buy from Neutral. Analyst John G. Inch said GE seems to be a good defensive play in today's climate and that its range of businesses and large global exposure (more than half its revenue comes from outside the U.S) will help it weather a U.S. recession...
In down market, sideways GE shares look good: investors
For most of the past three years, investors looking at General Electric Co., have had a common complaint -- the shares were "trading sideways," showing little movement of any kind. ...
Tuesday, March 25, 2008
Recent News: GE Aviation Biofuels, Corinne A. Johnson, GE Healthcare, Texas Wind Farm, Locomotive Pollution Standards, Connect with Immelt and more...
Continental, Boeing and GE plans for Sustainable Biofuels Flight
Continental Airlines , Boeing and GE Aviation have announced plans to conduct a biofuels demonstration flight in the first half of 2009 in an effort to identify sustainable fuel solutions for the aviation industry. Continental is the first major U.S. carrier to announce plans to highlight technological advancements in sustainable biofuels that can help to further reduce carbon emissions...
Corinne Johnson, 49, first woman to lead GE's Lynn plant
Corinne A. Johnson, the first female general manager at General Electric Co.'s aircraft engine plant in Lynn, walked the shop floor to meet workers. At GE Aviation, based in Cincinnati, she lobbied for the plant to build more engines for fighter jets, attack helicopters, and Marine One, the presidential chopper...
GE Healthcare Says It Continues Market Leadership Position In Compact Ultrasound Industry In 2007 - Quick Facts
GE Healthcare, a division of General Electric Co., announced, citing a recent industry report issued by Klein Biomedical Consultants, that its global compact ultrasound business revenues were $260 million in 2007, 50% higher than last year. This surpasses the 42% worldwide industry market growth for compact ultrasound in 2007...
GE to unveil plans for West Texas wind farm
General Electric Co. will announce today its 10th investment in a Texas wind farm. This one is in the West Texas town of McAdoo, and it comes with a crucial construction deadline...
GE embraces tougher locomotive pollution standards
Environmentalists and Erie-based GE Transportation are applauding new pollution-cutting regulations announced Friday by the Environmental Protection Agency.The EPA will require locomotives and U.S.-flag ships and passenger ferries to cut soot by 90 percent and smog-causing chemical releases by 80 percent...
GE Healthcare continues to grow ultrasound business
GE Healthcare continued as the global market share leader in the compact ultrasound industry in 2007, as cited in a recent industry report issued by Klein Biomedical Consultants.GE announced today that the company's global compact ultrasound business grew revenues to $260 million in 2007, growing 50 percent compared from the prior year....
GE Puts CEO Online to Connect with Shareholders
We’ve blogged several times about the efforts of some companies to establish two-way dialogs with their customers through initiatives such as online forums — and their mixed results. Continental Airlines, for instance, has won kudos from its customers for its policy of employing a dedicated person to monitor online chat forums and even to visit some customers in person at feedback events around the country. Dell, on the other hand, has been less successful with its Ideastorm site and its own interactions with sites such as the Consumerist.com.
One of the most intriguing attempts yet at engaging folks online — specifically shareholders — was a recent live Webcast with General Electric CEO Jeffrey Immelt.
Florida opts for GE Security
GE Security has announced the State of Florida has deployed GE’s Identity Commander security platform to its 12 deepwater seaports as well as its Dept. of Highway Safety & Motor Vehicles headquarters in Tallahassee....
Economic slowdown causing G.E. layoffs
G.E. is acknowledging that the tough economy is hitting its appliance business harder than was expected. Layoffs are coming to the executive ranks at the Louisville headquarters and across the U.S. The number of cutbacks is not yet known...
Equity in brands
Value-stock fund manager sees bargains in Honda, GE, Best Buy
One anomaly of the stormy U.S. stock market is how quality is being priced at a discount. Shares of many big, brand-name companies with strong cash positions and dominant, global market share are trading at below-normal valuations....
Now, GE Seeks Others' Money
General Electric Co., which has long been one of the country's largest real-estate investors with its own money, is planning to begin investing money belonging to others....
Continental Airlines , Boeing and GE Aviation have announced plans to conduct a biofuels demonstration flight in the first half of 2009 in an effort to identify sustainable fuel solutions for the aviation industry. Continental is the first major U.S. carrier to announce plans to highlight technological advancements in sustainable biofuels that can help to further reduce carbon emissions...
Corinne Johnson, 49, first woman to lead GE's Lynn plant
Corinne A. Johnson, the first female general manager at General Electric Co.'s aircraft engine plant in Lynn, walked the shop floor to meet workers. At GE Aviation, based in Cincinnati, she lobbied for the plant to build more engines for fighter jets, attack helicopters, and Marine One, the presidential chopper...
GE Healthcare Says It Continues Market Leadership Position In Compact Ultrasound Industry In 2007 - Quick Facts
GE Healthcare, a division of General Electric Co., announced, citing a recent industry report issued by Klein Biomedical Consultants, that its global compact ultrasound business revenues were $260 million in 2007, 50% higher than last year. This surpasses the 42% worldwide industry market growth for compact ultrasound in 2007...
GE to unveil plans for West Texas wind farm
General Electric Co. will announce today its 10th investment in a Texas wind farm. This one is in the West Texas town of McAdoo, and it comes with a crucial construction deadline...
GE embraces tougher locomotive pollution standards
Environmentalists and Erie-based GE Transportation are applauding new pollution-cutting regulations announced Friday by the Environmental Protection Agency.The EPA will require locomotives and U.S.-flag ships and passenger ferries to cut soot by 90 percent and smog-causing chemical releases by 80 percent...
GE Healthcare continues to grow ultrasound business
GE Healthcare continued as the global market share leader in the compact ultrasound industry in 2007, as cited in a recent industry report issued by Klein Biomedical Consultants.GE announced today that the company's global compact ultrasound business grew revenues to $260 million in 2007, growing 50 percent compared from the prior year....
GE Puts CEO Online to Connect with Shareholders
We’ve blogged several times about the efforts of some companies to establish two-way dialogs with their customers through initiatives such as online forums — and their mixed results. Continental Airlines, for instance, has won kudos from its customers for its policy of employing a dedicated person to monitor online chat forums and even to visit some customers in person at feedback events around the country. Dell, on the other hand, has been less successful with its Ideastorm site and its own interactions with sites such as the Consumerist.com.
One of the most intriguing attempts yet at engaging folks online — specifically shareholders — was a recent live Webcast with General Electric CEO Jeffrey Immelt.
Florida opts for GE Security
GE Security has announced the State of Florida has deployed GE’s Identity Commander security platform to its 12 deepwater seaports as well as its Dept. of Highway Safety & Motor Vehicles headquarters in Tallahassee....
Economic slowdown causing G.E. layoffs
G.E. is acknowledging that the tough economy is hitting its appliance business harder than was expected. Layoffs are coming to the executive ranks at the Louisville headquarters and across the U.S. The number of cutbacks is not yet known...
Equity in brands
Value-stock fund manager sees bargains in Honda, GE, Best Buy
One anomaly of the stormy U.S. stock market is how quality is being priced at a discount. Shares of many big, brand-name companies with strong cash positions and dominant, global market share are trading at below-normal valuations....
Now, GE Seeks Others' Money
General Electric Co., which has long been one of the country's largest real-estate investors with its own money, is planning to begin investing money belonging to others....
