GE unit signs agreement to sell turbines valued at $700 million
GE Energy, a unit of General Electric Co., announced Thursday it has signed an agreement with an Austin, Texas-based energy company to sell wind power turbines valued at more than $700 million...
GE supplies turbines to RES
Austin, Texas-based wind developer Renewable Energy Systems (RES) Americas has signed agreements for over US$700 million to receive 1.5 megawatt wind turbines from GE Energy. The turbines will be used for projects in 2009 and 2010....
GE Energy Gets $700M Wind Turbines Order
GE Energy, General Electric Co.'s division that supplies power generation products, said Thursday it has signed a deal to provide Renewable Energy Systems Americas Inc. with wind turbines....
GE To Supply Its Most Advanced F-Class Technology For New Power Plant In Port Of Barcelona
GE Energy’s most advanced, F-class gas turbine technology has been selected for a new combined-cycle power plant that will serve the Port of Barcelona as well as help to meet the future requirements of the Spanish electricity grid....
GE’s Trotter elected to Textron board
Lloyd G. Trotter, who has announced his retirement as vice chairman of General Electric and president and CEO of the $28 billion GE Industries, has been elected to the board of directors of Textron Inc., effective March 1...
To G.E., a Chinese Olympics Is Just Made for a Global Message
SO, how do you say “Imagination at Work” in Chinese? Actually, that is easy enough to answer — just check the Chinese characters next to the General Electric logo in the ads on billboards, in newspapers and in airports throughout Beijing and Shanghai. With its “Imagination at Work” ad campaign into its fifth year, G.E. has the nuances of both the language and the concept down pat...
GE Security’s CTX 9000 DSi™ Explosives Detection System Delivered to Abu Dhabi International Airport
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced its Homeland Protection business has sold and delivered two CTX 9000 DSi™ advanced technology explosives detection systems to Abu Dhabi International Airport...
Horizon Wind Energy Signs Wind Turbine Supply, Service Agreements With GE Energy
Horizon Wind Energy LLC, a leading wind project developer, has signed wind turbine supply and service agreements with GE Energy for future U.S. projects. Horizon also announced today the establishment of a regional headquarters in Albany, N.Y. to oversee its future projects in New York State and the Northeastern United States...
Friday, February 29, 2008
Seeking Alpha - GE: Nuclear Growth Galore
Seeking Alpha
Can you name the one company that, for the past five years, has steadily increased its revenue YoY, earnings per share, dividends and per share book value, yet its share price has gone literally nowhere? That company, of course is General Electric – the mega-conglomerate with a market cap of $335 billion. As if these reasons were not good enough to love GE, consider that GE's current 3.7% dividend yield is roughly equal to the interest on the richest savings accounts. You'll also be happy to know that in today's volatile market GE is relatively safe, sporting a β of only .8, trading within about 10% of its 4-year low and at a P/E of about 15 - the very low end of its 10 year range...
Recent News: GE Appliances & LG Electronics, and NBC Universal Lawsuit
LG Electronics, GE in pact to share appliance patents
South Korea's LG Electronic and U.S. manufacturer General Electric Co. have agreed to use each other's patents for refrigerators and cooking appliances without paying licensing fees, the companies said...
GE's NBC Universal Must Defend Predator Show Lawsuit (Update2)
General Electric Co.'s NBC Universal must defend a $100 million lawsuit brought by the sister of a Texas prosecutor who killed himself as a network show was about to film his arrest for soliciting a minor online. The suit in Manhattan federal court followed the 2006 suicide of Assistant District Attorney Louis Conradt, who shot himself in his home in Terrell, Texas, as police were about to arrest him. Waiting outside his house were an NBC Universal crew about to film a segment of ``To Catch a Predator,'' a show that works with local police to catch suspected sex offenders...
South Korea's LG Electronic and U.S. manufacturer General Electric Co. have agreed to use each other's patents for refrigerators and cooking appliances without paying licensing fees, the companies said...
GE's NBC Universal Must Defend Predator Show Lawsuit (Update2)
General Electric Co.'s NBC Universal must defend a $100 million lawsuit brought by the sister of a Texas prosecutor who killed himself as a network show was about to film his arrest for soliciting a minor online. The suit in Manhattan federal court followed the 2006 suicide of Assistant District Attorney Louis Conradt, who shot himself in his home in Terrell, Texas, as police were about to arrest him. Waiting outside his house were an NBC Universal crew about to film a segment of ``To Catch a Predator,'' a show that works with local police to catch suspected sex offenders...
Recent News: GE Energy (China), GE Financial Services, GE Infrastucture, New GE Appliances, and GE Money.
GE Energy to license gasification technology to Guizhou Jinchi
Power generation and energy delivery solutions provider GE Energy's gasification technology has been selected for a coal-to-chemical production facility owned by the Guizhou Jinchi Chemical Company in the Tongzi County of China's Guizhou province...
GFB Acquisition and GE Financial to sell oil and gas interests to Isramco
Oil and gas property operator GFB Acquisition I and GE Financial Services have executed an agreement to sell their varying working interests in certain producing oil and natural gas properties located in Texas, New Mexico and Oklahoma to Isramco for approximately $102 million...
Reuters Summit - GE Infrastructure eyes acquisitions
General Electric Co's infrastructure unit will likely make several acquisitions in the power storage, power management and control systems sectors in 2008, the unit's chief executive said on Monday...
GE Reveals New Laundry Pair, Dishwasher
GE Consumer & Industrial introduced a new front-load laundry pair and steam-cleaning dishwasher under the Profile badge at this month's International Builders' Show....
GE pegs base for two units at $400 mn
GE Money has pegged the base price of its consumer finance and housing mortgage business at around $400 million, according to industry officials. This is because GE has invested $400 million in these businesses and is expecting a premium on this investment. It is understood that bids have already come in though it could not be ascertained if these were binding bids...
Power generation and energy delivery solutions provider GE Energy's gasification technology has been selected for a coal-to-chemical production facility owned by the Guizhou Jinchi Chemical Company in the Tongzi County of China's Guizhou province...
GFB Acquisition and GE Financial to sell oil and gas interests to Isramco
Oil and gas property operator GFB Acquisition I and GE Financial Services have executed an agreement to sell their varying working interests in certain producing oil and natural gas properties located in Texas, New Mexico and Oklahoma to Isramco for approximately $102 million...
Reuters Summit - GE Infrastructure eyes acquisitions
General Electric Co's infrastructure unit will likely make several acquisitions in the power storage, power management and control systems sectors in 2008, the unit's chief executive said on Monday...
GE Reveals New Laundry Pair, Dishwasher
GE Consumer & Industrial introduced a new front-load laundry pair and steam-cleaning dishwasher under the Profile badge at this month's International Builders' Show....
GE pegs base for two units at $400 mn
GE Money has pegged the base price of its consumer finance and housing mortgage business at around $400 million, according to industry officials. This is because GE has invested $400 million in these businesses and is expecting a premium on this investment. It is understood that bids have already come in though it could not be ascertained if these were binding bids...
Recent News: Crotonville, Digital Cameras, GE Aviation Biofuel, Virgin Atlantic 747, and Africa Operations.
Explore GE campus, walk out employed
It’s a factory that looks deceptively like a university campus. tucked away in the idyllic town of crotonville, the John F Welch leadership centre mass produces leaders for GE — and the world...
GE’s 2008 digital camera line-up
February 25, 2008 General Imaging, the worldwide exclusive licensee for GE digital cameras, has rolled out the next generation of GE digital cameras for 2008. The nine all-new models unveiled at the 2008 PMA trade show in Las Vegas brings the total number of cameras in the GE-branded digital camera line to 15. Features from last years models such as panorama stitching, face detection and in-camera red-eye removal will be combined with an assortment of additional features, including smile detection, blink detection, upgraded lenses, and LCD screens that adjust to changes in ambient light – all packed into slimmer camera bodies. One new model, the E1050, also adds HDTV playback, touch-screen and GPS capability...
Boeing, Virgin Atlantic and GE Aviation to Fly First Commercial Jet on Biofuel
Boeing, Virgin Atlantic and GE Aviation today will conduct the first commercial aviation flight using a sustainable fuel from biomass mixed with traditional kerosene- based jet fuel. The biofuel flight demonstration highlights the technical feasibility of using biofuels in a commercial jetliner and is a significant step toward a long-term vision of fully sustainable, low-carbon-lifecycle fuel solutions for the aviation industry....
Virgin Flies 747 on Biofuel From Coconuts, Babassu (Update3)
Virgin Atlantic Airways Ltd., the U.K. carrier controlled by billionaire Richard Branson, tested a jumbo jet partly powered by a biofuel made from babassu nuts and coconut oil, a first for a commercial aircraft...
GE hires Kenyan officials to run Africa operations
Global engineering giant General Electric (GE) has stepped up the profile of its Africa operations with key appointments to its management. Mr Yibrah Tesfazghi, the GE executive president for Africa, said the appointments are part of the changes that the company is making to address infrastructure challenges on the continent....
It’s a factory that looks deceptively like a university campus. tucked away in the idyllic town of crotonville, the John F Welch leadership centre mass produces leaders for GE — and the world...
GE’s 2008 digital camera line-up
February 25, 2008 General Imaging, the worldwide exclusive licensee for GE digital cameras, has rolled out the next generation of GE digital cameras for 2008. The nine all-new models unveiled at the 2008 PMA trade show in Las Vegas brings the total number of cameras in the GE-branded digital camera line to 15. Features from last years models such as panorama stitching, face detection and in-camera red-eye removal will be combined with an assortment of additional features, including smile detection, blink detection, upgraded lenses, and LCD screens that adjust to changes in ambient light – all packed into slimmer camera bodies. One new model, the E1050, also adds HDTV playback, touch-screen and GPS capability...
Boeing, Virgin Atlantic and GE Aviation to Fly First Commercial Jet on Biofuel
Boeing, Virgin Atlantic and GE Aviation today will conduct the first commercial aviation flight using a sustainable fuel from biomass mixed with traditional kerosene- based jet fuel. The biofuel flight demonstration highlights the technical feasibility of using biofuels in a commercial jetliner and is a significant step toward a long-term vision of fully sustainable, low-carbon-lifecycle fuel solutions for the aviation industry....
Virgin Flies 747 on Biofuel From Coconuts, Babassu (Update3)
Virgin Atlantic Airways Ltd., the U.K. carrier controlled by billionaire Richard Branson, tested a jumbo jet partly powered by a biofuel made from babassu nuts and coconut oil, a first for a commercial aircraft...
GE hires Kenyan officials to run Africa operations
Global engineering giant General Electric (GE) has stepped up the profile of its Africa operations with key appointments to its management. Mr Yibrah Tesfazghi, the GE executive president for Africa, said the appointments are part of the changes that the company is making to address infrastructure challenges on the continent....
Thursday, February 28, 2008
The Motley Fool: GE Brings Bad Things to Light and Fixes Them
When you're running one of the largest and most complex businesses in the world, it can be hard to keep all the moving parts in check. General Electric has been under the SEC's microscope for three years, launched an internal investigation last year, and expects another year or so of the commission's probing and prodding...
Recent News: GE Sensing & Inspection in Abu Dhabi, GE Healthcare, SmartCommand Envirodashboard, and Accounting Probe
GE Sensing & Inspection Technologies Opens Middle East's First Dedicated Service and Training Centre in Abu Dhabi
GE Sensing & Inspection Technologies, part of GE Enterprise Solutions opened its first dedicated calibration, repair and training service centre in Abu Dhabi today at the CERT Technology Park. Nabil Habayeb, President and CEO of GE, Middle East and Africa opened the service and training facility in the presence of Tim Povall, Global General Manager, GE Measurement Solutions, and Dr. Bob Richards, CEO, CERT Technology Park...
GE Healthcare Announces First Deployment of ApexPro FH Telemetry System on CARESCAPE Enterprise Access at Memorial Hospital North
GE Healthcare announced today that Memorial Hospital North is the first healthcare institution to deploy ApexPro® FH, a spread-spectrum frequency hopping telemetry system, on its CARESCAPE™ Enterprise Access™ in-building wireless platform. The solution provides the hospital with a single, integrated, wireless platform that enables critical patient data to be securely coordinated, managed and distributed without the communications failures, interference or interruptions associated with un-integrated systems...
GE’s SmartCommand Envirodashboard
Hi everyone. I wanted to share with you a brief video highlighting some very cool features we are building into one of our newest eco-products, a new energy and water monitoring dashboard. GE’s SmartCommand Envirodashboard is user-interface panel, or smart panel, as it has been described in the news, which keeps track of energy and water consumption in the home or office. At the Research Center, we’re developing new features that will enable more active power and water management by a home...
GE to adjust accounting to end regulator probe: report
U.S. conglomerate General Electric Co is expected to make changes to its accounting policies in a bid to end a U.S. Securities and Exchange Commission probe, the Wall Street Journal reported on Tuesday citing people familiar with the situation....
GE Sensing & Inspection Technologies, part of GE Enterprise Solutions opened its first dedicated calibration, repair and training service centre in Abu Dhabi today at the CERT Technology Park. Nabil Habayeb, President and CEO of GE, Middle East and Africa opened the service and training facility in the presence of Tim Povall, Global General Manager, GE Measurement Solutions, and Dr. Bob Richards, CEO, CERT Technology Park...
GE Healthcare Announces First Deployment of ApexPro FH Telemetry System on CARESCAPE Enterprise Access at Memorial Hospital North
GE Healthcare announced today that Memorial Hospital North is the first healthcare institution to deploy ApexPro® FH, a spread-spectrum frequency hopping telemetry system, on its CARESCAPE™ Enterprise Access™ in-building wireless platform. The solution provides the hospital with a single, integrated, wireless platform that enables critical patient data to be securely coordinated, managed and distributed without the communications failures, interference or interruptions associated with un-integrated systems...
GE’s SmartCommand Envirodashboard
Hi everyone. I wanted to share with you a brief video highlighting some very cool features we are building into one of our newest eco-products, a new energy and water monitoring dashboard. GE’s SmartCommand Envirodashboard is user-interface panel, or smart panel, as it has been described in the news, which keeps track of energy and water consumption in the home or office. At the Research Center, we’re developing new features that will enable more active power and water management by a home...
GE to adjust accounting to end regulator probe: report
U.S. conglomerate General Electric Co is expected to make changes to its accounting policies in a bid to end a U.S. Securities and Exchange Commission probe, the Wall Street Journal reported on Tuesday citing people familiar with the situation....
How great is GE? Just Listen to Jeffery.
Great Scott! A New GE Metric The Wall Street Journal
To learn how 'great' the returns on General Electric stock will be this year, just listen to the company's conference calls. London-based stock analysts for Morgan Stanley have been tracking GE's stock price against the number of times Chairman Jeffrey Immelt and Chief Financial Officer Keith Sherin use the word "great" or "greater" in investor calls. They found that as the use of "greatness" rises, so does GE stock. The analysts dub their tool the "greatometer."
Recent News: Security in Brussels, GE Aviation, and GE/NBC Breakup,
GE Security Explosives Detection Systems deployed to Brussels South Charleroi airport
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced its Homeland Protection business has sold and deployed two TSA-certified CTX 9000 DSi ™ advanced technology explosives detection systems (EDS) to support checked bag screening at Brussels South Charleroi Airport’s recently opened passenger terminal...
GE-Aviation Moves Tote-Tracking Pilot to Production
GE-Aviation, the engine-manufacturing division for civil and military jet aircraft at General Electric, recently brought an RFID-based order-tracking system into production, according to Trey Keisler, GE-Aviation's information management leader for planning and logistics...
BBDO Toronto wins GE appliances account
Mabe Canada, the Canadian manufacturer, distributor and marketer of GE Appliance products - including GE, GE Profile and GE Monogram - has chosen BBDO Toronto as its advertising agency of record....
Analyst Recommends GE-NBC Breakup in '08
JPMorgan analyst C. Stephen Tusa Jr. said in a note to investors on Thursday that the timing is right for General Electric Co. to consider a potential breakup to separate NBC Universal....
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced its Homeland Protection business has sold and deployed two TSA-certified CTX 9000 DSi ™ advanced technology explosives detection systems (EDS) to support checked bag screening at Brussels South Charleroi Airport’s recently opened passenger terminal...
GE-Aviation Moves Tote-Tracking Pilot to Production
GE-Aviation, the engine-manufacturing division for civil and military jet aircraft at General Electric, recently brought an RFID-based order-tracking system into production, according to Trey Keisler, GE-Aviation's information management leader for planning and logistics...
BBDO Toronto wins GE appliances account
Mabe Canada, the Canadian manufacturer, distributor and marketer of GE Appliance products - including GE, GE Profile and GE Monogram - has chosen BBDO Toronto as its advertising agency of record....
Analyst Recommends GE-NBC Breakup in '08
JPMorgan analyst C. Stephen Tusa Jr. said in a note to investors on Thursday that the timing is right for General Electric Co. to consider a potential breakup to separate NBC Universal....
Friday, February 15, 2008
IHT: As sales for U.S. firms like GE go abroad, so do managers
As sales for U.S. firms like GE go abroad, so do managers
As soon as Jeffrey Immelt, General Electric's chairman, became chief executive in 2001, his foreign-based managers began pressing him to move some major operations overseas.
"They'd say, 'GE will never be really global until you do,' " Immelt recalled. For years, his reaction was, "That's really stupid; no need to do that." But his managers kept up the pressure, and Immelt figured that "with so much smoke, there must be a fire."
read more...
GE goes global, at last
If you’re interested in globalization, you can hardly ignore the experiences of General Electric. Claudia Deutsch has written a fascinating article about the giant company’s journey from skepticism, to facing up to globalization’s challenges, to becoming a truly global business....
As soon as Jeffrey Immelt, General Electric's chairman, became chief executive in 2001, his foreign-based managers began pressing him to move some major operations overseas.
"They'd say, 'GE will never be really global until you do,' " Immelt recalled. For years, his reaction was, "That's really stupid; no need to do that." But his managers kept up the pressure, and Immelt figured that "with so much smoke, there must be a fire."
read more...
GE goes global, at last
If you’re interested in globalization, you can hardly ignore the experiences of General Electric. Claudia Deutsch has written a fascinating article about the giant company’s journey from skepticism, to facing up to globalization’s challenges, to becoming a truly global business....
Recent News: GE X-Ray, GE-NBC Breakup, and GE Security
OSHA forms safety and health partnership for GE X-ray manufacturing facility project at RPI Tech Park
Enhanced safety and health protections for more than 350 employees constructing the General Electric Healthcare Digital X-Ray Detector manufacturing plant at the Rensselaer Technical Park in North Greenbush, N.Y., is the goal of a new partnership among federal and New York state agencies, the general contractor and union representatives...
Analyst Recommends GE-NBC Breakup in '08
JPMorgan analyst C. Stephen Tusa Jr. said in a note to investors on Thursday that the timing is right for General Electric Co. to consider a potential breakup to separate NBC Universal...
GE Capital Solutions loans LI developer $6.3M to convert Albany nursing home into hotel
GE Capital Solutions loaned $6.3 million to a Long Island developer to convert the former Eden Park Nursing Home in Albany, N.Y., into a hotel. True North Development Group will use the interest-only loan to renovate the former nursing home at 22 Holland Ave. into a 106-room extended-stay hotel, Town Place Suites by Marriott...
GE Security Explosives Detection Systems Deployed to Brussels South Charleroi Airport, Helping Increase Effectiveness, Efficiency and Convenience of Checked Bag Screening
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced its Homeland Protection business has sold and deployed two TSA-certified CTX 9000 DSi ™ advanced technology explosives detection systems (EDS) to support checked bag screening at Brussels South Charleroi Airport’s recently opened passenger terminal...
Enhanced safety and health protections for more than 350 employees constructing the General Electric Healthcare Digital X-Ray Detector manufacturing plant at the Rensselaer Technical Park in North Greenbush, N.Y., is the goal of a new partnership among federal and New York state agencies, the general contractor and union representatives...
Analyst Recommends GE-NBC Breakup in '08
JPMorgan analyst C. Stephen Tusa Jr. said in a note to investors on Thursday that the timing is right for General Electric Co. to consider a potential breakup to separate NBC Universal...
GE Capital Solutions loans LI developer $6.3M to convert Albany nursing home into hotel
GE Capital Solutions loaned $6.3 million to a Long Island developer to convert the former Eden Park Nursing Home in Albany, N.Y., into a hotel. True North Development Group will use the interest-only loan to renovate the former nursing home at 22 Holland Ave. into a 106-room extended-stay hotel, Town Place Suites by Marriott...
GE Security Explosives Detection Systems Deployed to Brussels South Charleroi Airport, Helping Increase Effectiveness, Efficiency and Convenience of Checked Bag Screening
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced its Homeland Protection business has sold and deployed two TSA-certified CTX 9000 DSi ™ advanced technology explosives detection systems (EDS) to support checked bag screening at Brussels South Charleroi Airport’s recently opened passenger terminal...
BloggingStocks: GE and Johnson & Johnson -- just timing
GE and Johnson & Johnson -- just timing
Yesterday when I posted Why complain about GE and not JNJ -- a puzzle? I got my answer. Investors do have patience, but it's limited. They will wait three years for positive results, but maybe not five, and ten -- forget about it! As you can see from yesterdays' chart comparing three-year performance, there is no difference and in both cases the stocks are down. The difference is nobody is demanding that heads should roll at Johnson & Johnson (NYSE: JNJ) while they are at General Electric Company (NYSE: GE)....
read more...
Yesterday when I posted Why complain about GE and not JNJ -- a puzzle? I got my answer. Investors do have patience, but it's limited. They will wait three years for positive results, but maybe not five, and ten -- forget about it! As you can see from yesterdays' chart comparing three-year performance, there is no difference and in both cases the stocks are down. The difference is nobody is demanding that heads should roll at Johnson & Johnson (NYSE: JNJ) while they are at General Electric Company (NYSE: GE)....
read more...
Recent News: Jet Engines, GE Capital, GE Commerical Finance, Wind Power, Coal Research,
Congress may restore funding for GE-Rolls Royce fighter engine
The chairman of a key defense subcommittee in the U.S. House of Representatives predicted that Congress would restore funding for an alternative fighter engine being developed by GE Aviation and Rolls-Royce, Reuters news agency reported Wednesday. A proposed White House defense budget released last week would cancel funding for the F136 engine, which is intended to compete with a Pratt & Whitney engine to power the F-35, or Joint Strike Fighter. The F-35 is being developed in multiple versions by Lockheed Martin Corp...
GE Capital Solutions, Franchise Finance Helps Sizzling Platter Grow with $58 Million Loan
Sizzling Platter, LLC., a multi-concept operating company with 37 restaurants, is refinancing existing debt, developing new units, and acquiring a Salt Lake City-based 51 unit Little Caesars Pizza franchisee with a senior-term debt loan and revolving line of credit from GE Capital Solutions, Franchise Finance.
GE Provides $425 Million Credit Facility to Mobilitie
GE Commercial Finance's Media, Communications & Entertainment business today announced it has provided a $425 million senior secured credit facility to Mobilitie, the owner of telecommunications towers located across the United States and a portfolio company of Oaktree Capital Management. GE - Media, Communications & Entertainment served as administrative agent and GE Capital Markets acted as joint bookrunner and joint lead arranger with TD Securities for the facility. The facility will be used to support the acquisition of additional towers and deployment of other wireless infrastructure assets....
GE: Plenty of Tailwinds for Wind Power
GE, the biggest U.S. maker of wind turbines, told Reuters yesterday that 2008 revenues from turbine sales could approach $6 billion (HT: Solve Climate.) That could mean as much as 4.2 gigawatts of turbines in 2008, if order-book prices from market-leader and price-setter Vestas are any guide. How much is that? Almost as much wind power as the U.S. installed last year. Or, about 20% of last year’s record-breaking installation. Or, just under 5% of all the wind power installed in the world today...
UW, GE team up to develop advanced coal technology centerSource
GE Energy announced today that it has signed a letter of intent with the University of Wyoming, countersigned by Gov. Dave Freudenthal, for the development of an advanced gasification research and technology center in Wyoming.The proposed center would consist of a small scale gasification system that would allow UW and GE researchers to develop advanced coal gasification technology solutions for Wyoming coals...
GE Sensors Help Control Ventilation in Schools
GE Sensing & Inspection Technologies, a unit of GE Enterprise Solutions (NYSE:GE), is helping schools control their ventilation and outdoor air supply. “Maintaining proper air quality in schools is an important part of maintaining a comfortable, healthy, productive environment for students and faculty,” said Rod Valenta, General Manager of GE Sensing & Inspection Technologies’ Telaire division...
The chairman of a key defense subcommittee in the U.S. House of Representatives predicted that Congress would restore funding for an alternative fighter engine being developed by GE Aviation and Rolls-Royce, Reuters news agency reported Wednesday. A proposed White House defense budget released last week would cancel funding for the F136 engine, which is intended to compete with a Pratt & Whitney engine to power the F-35, or Joint Strike Fighter. The F-35 is being developed in multiple versions by Lockheed Martin Corp...
GE Capital Solutions, Franchise Finance Helps Sizzling Platter Grow with $58 Million Loan
Sizzling Platter, LLC., a multi-concept operating company with 37 restaurants, is refinancing existing debt, developing new units, and acquiring a Salt Lake City-based 51 unit Little Caesars Pizza franchisee with a senior-term debt loan and revolving line of credit from GE Capital Solutions, Franchise Finance.
GE Provides $425 Million Credit Facility to Mobilitie
GE Commercial Finance's Media, Communications & Entertainment business today announced it has provided a $425 million senior secured credit facility to Mobilitie, the owner of telecommunications towers located across the United States and a portfolio company of Oaktree Capital Management. GE - Media, Communications & Entertainment served as administrative agent and GE Capital Markets acted as joint bookrunner and joint lead arranger with TD Securities for the facility. The facility will be used to support the acquisition of additional towers and deployment of other wireless infrastructure assets....
GE: Plenty of Tailwinds for Wind Power
GE, the biggest U.S. maker of wind turbines, told Reuters yesterday that 2008 revenues from turbine sales could approach $6 billion (HT: Solve Climate.) That could mean as much as 4.2 gigawatts of turbines in 2008, if order-book prices from market-leader and price-setter Vestas are any guide. How much is that? Almost as much wind power as the U.S. installed last year. Or, about 20% of last year’s record-breaking installation. Or, just under 5% of all the wind power installed in the world today...
UW, GE team up to develop advanced coal technology centerSource
GE Energy announced today that it has signed a letter of intent with the University of Wyoming, countersigned by Gov. Dave Freudenthal, for the development of an advanced gasification research and technology center in Wyoming.The proposed center would consist of a small scale gasification system that would allow UW and GE researchers to develop advanced coal gasification technology solutions for Wyoming coals...
GE Sensors Help Control Ventilation in Schools
GE Sensing & Inspection Technologies, a unit of GE Enterprise Solutions (NYSE:GE), is helping schools control their ventilation and outdoor air supply. “Maintaining proper air quality in schools is an important part of maintaining a comfortable, healthy, productive environment for students and faculty,” said Rod Valenta, General Manager of GE Sensing & Inspection Technologies’ Telaire division...
BloggingStocks: Why complain about GE and not JNJ -- a puzzle?
Why complain about GE and not JNJ -- a puzzle?
I have been following General Electric Company (NYSE: GE) and Johnson & Johnson (NYSE: JNJ) for many years. This is probably very common among investors since both are broadly held, very large-cap stocks. Both companies have illustrious histories, strong management, and have been very rewarding to investors over the years -- but not the past few years!
Both stocks seem undervalued to me and I have been thinking about buying some shares. I own some JNJ already and might want to own GE if I can get it at a deep discount. This got me thinking about another issue. Investors have been expressing their frustration with GE's lack of appreciation over the last few years and some have gone as far as to call for the split up of the company and/or the resignation of CEO Jeffrey Immelt. For some reason Johnson and Johnson has not suffered the same fate. However, when you look at the following chart that shows three year stock performance you will notice great similarity.
read more...
I have been following General Electric Company (NYSE: GE) and Johnson & Johnson (NYSE: JNJ) for many years. This is probably very common among investors since both are broadly held, very large-cap stocks. Both companies have illustrious histories, strong management, and have been very rewarding to investors over the years -- but not the past few years!
Both stocks seem undervalued to me and I have been thinking about buying some shares. I own some JNJ already and might want to own GE if I can get it at a deep discount. This got me thinking about another issue. Investors have been expressing their frustration with GE's lack of appreciation over the last few years and some have gone as far as to call for the split up of the company and/or the resignation of CEO Jeffrey Immelt. For some reason Johnson and Johnson has not suffered the same fate. However, when you look at the following chart that shows three year stock performance you will notice great similarity.
read more...
Wednesday, February 13, 2008
Recent News: Overseas Sales, Gas Turbine Engines, Carrie McCabe, GE Real Estate, Sikorsky CH-53, Google-Enabled Phones, Dryer Recall, and GE Oil & Gas
Overseas Sales Big For GE Fairfield-based General Electric Co. will get about 60 percent of infrastructure sales from overseas this year, a 5 percentage point increase from 2007, as the U.S. economy wanes and developing countries add electrical capacity to fuel growth, Vice Chairman John Rice said Tuesday....
Pratt & Whitney Power Systems to provide IGT parts to GE gas turbines
Pratt & Whitney Power Systems has been selected by the Los Angeles Department of Water and Power to provide industrial gas turbine parts for four General Electric Frame 7FA+e gas turbines. ...
Senior hedge exec to launch new firm backed by GE
Carrie McCabe, among the most prominent women executives in the hedge fund industry, is launching a new hedge fund investment firm backed by General Electric's asset management division, sources familiar with the situation said on Tuesday....
GE Real Estate Takes Lead in $50 Million Refinancing to Vancouver Film Studios
GE Real Estate announcedtoday it was the lead partner for a $50 million refinancing of Vancouver FilmStudios, a state-of-the art film and television studio complex....
GE cuts metal for engine to power Sikorsky's CH-53K
General Electric has machined the first parts for the new GE38-1B turboshaft engine that will power the Sikorsky CH-53K heavylift helicopter under development for the US Marine Corps...
GE to Produce Google-Enabled DECT Phone
General Electric has announced the GE Premiere DECT 6.0 Phone with Home Speakerbox/Intercom. The new DECT phone will include a dedicated two-way wireless intercom system, as well as a special portable speakerphone/room intercom unit...
GE pulls pin on National Parts
GE Commercial may have forced the liquidation of National Parts, one of Australia's largest car parts’ distributors. The firm trades mainly through six wholesale outlets that supply the AutoPro network of retail outlets...
GE Recalls Dryers Due to Shock Hazard
The U.S. Consumer Product Safety Commission and General Electric Co. on Monday recalled about 2,100 GE gas clothes dryers because a short circuit could cause a shock hazard...
StatoilHydro Announces Technology Cooperation with GE Oil & Gas
StatoilHydro and GE Oil & Gas today signed a Technology Cooperation Agreement, which establishes a formal collaborative working relationship between the two companies for the ongoing development of technology related to specific oil and gas projects...
Pratt & Whitney Power Systems to provide IGT parts to GE gas turbines
Pratt & Whitney Power Systems has been selected by the Los Angeles Department of Water and Power to provide industrial gas turbine parts for four General Electric Frame 7FA+e gas turbines. ...
Senior hedge exec to launch new firm backed by GE
Carrie McCabe, among the most prominent women executives in the hedge fund industry, is launching a new hedge fund investment firm backed by General Electric's asset management division, sources familiar with the situation said on Tuesday....
GE Real Estate Takes Lead in $50 Million Refinancing to Vancouver Film Studios
GE Real Estate announcedtoday it was the lead partner for a $50 million refinancing of Vancouver FilmStudios, a state-of-the art film and television studio complex....
GE cuts metal for engine to power Sikorsky's CH-53K
General Electric has machined the first parts for the new GE38-1B turboshaft engine that will power the Sikorsky CH-53K heavylift helicopter under development for the US Marine Corps...
GE to Produce Google-Enabled DECT Phone
General Electric has announced the GE Premiere DECT 6.0 Phone with Home Speakerbox/Intercom. The new DECT phone will include a dedicated two-way wireless intercom system, as well as a special portable speakerphone/room intercom unit...
GE pulls pin on National Parts
GE Commercial may have forced the liquidation of National Parts, one of Australia's largest car parts’ distributors. The firm trades mainly through six wholesale outlets that supply the AutoPro network of retail outlets...
GE Recalls Dryers Due to Shock Hazard
The U.S. Consumer Product Safety Commission and General Electric Co. on Monday recalled about 2,100 GE gas clothes dryers because a short circuit could cause a shock hazard...
StatoilHydro Announces Technology Cooperation with GE Oil & Gas
StatoilHydro and GE Oil & Gas today signed a Technology Cooperation Agreement, which establishes a formal collaborative working relationship between the two companies for the ongoing development of technology related to specific oil and gas projects...
Tuesday, February 12, 2008
Recent News: GE Oil & Gas, Gas Dryer Recall, and SABIC
Emission-Reducing Technology Developed By GE Oil & Gas For Frame 5-2 Gas Turbines Wins Ecomagination Certification GE Oil & Gas recently announced that its DLN-1 IBH emissions technology, which enables Frame 5-2 gas turbines running at partial load to meet new NOx emission standards, has been certified as a GE ecomagination service offering...
GE Recalls Dryers Due to Shock Hazard
The U.S. Consumer Product Safety Commission and General Electric Co. on Monday recalled about 2,100 GE gas clothes dryers because a short circuit could cause a shock hazard...
GE Recalls Gas Dryers Due to Shock Hazard
GE is recalling about 2,100 GE gas clothes dryers. A short circuit in the dryer's wiring poses a shock hazard to consumers with ungrounded dryers. The recalled gas dryers are 42 inches tall (back with backsplash) and 27 inches wide, and were sold in white. GE gas dryers model number DWXR463GGWW with serial numbers starting with AM, TL, SL, VL, and ZL are included in this recall. To find the model and serial numbers, open the dryer door and look in the upper right corner, in the area that was covered by the door....
Saudi Basic says confident in its $11.6 bln GE buy
Saudi Basic Industries Corp 2010.SE, whose run of record profits ended in the fourth quarter as U.S. chemicals demand faltered, said it remained confident in its $11.6 billion 2007 buy of GE's plastics unit...
GE Recalls Dryers Due to Shock Hazard
The U.S. Consumer Product Safety Commission and General Electric Co. on Monday recalled about 2,100 GE gas clothes dryers because a short circuit could cause a shock hazard...
GE Recalls Gas Dryers Due to Shock Hazard
GE is recalling about 2,100 GE gas clothes dryers. A short circuit in the dryer's wiring poses a shock hazard to consumers with ungrounded dryers. The recalled gas dryers are 42 inches tall (back with backsplash) and 27 inches wide, and were sold in white. GE gas dryers model number DWXR463GGWW with serial numbers starting with AM, TL, SL, VL, and ZL are included in this recall. To find the model and serial numbers, open the dryer door and look in the upper right corner, in the area that was covered by the door....
Saudi Basic says confident in its $11.6 bln GE buy
Saudi Basic Industries Corp 2010.SE, whose run of record profits ended in the fourth quarter as U.S. chemicals demand faltered, said it remained confident in its $11.6 billion 2007 buy of GE's plastics unit...
Recent News: Annual Shareholder's Meeting (Erie, PA) and Kuwait Oil Company
GE meeting gives Erie chance to shine
The GE shareholder’s meeting in April represents a great opportunity for the Erie region to polish its image.“I think it’s an awesome, tremendous opportunity that comes along maybe once every 15 years,” said Jim Dible, chief executive of the Erie Regional Chamber and Growth Partnership. “I don’t know of another opportunity to present Erie in its brightest light to more people from around the country.”...
KOC selects GE compressors
The Kuwait Oil Company has selected GE Oil & Gas compressor technology for the new Oil and Gas Gathering Center 24 (GC24) in Kuwait's Sabriya field, reported Kuwait Times. GE will supply two electric motor-driven centrifugal compressors for the project, which is part of Kuwait Oil Company's development plan for northern Kuwait. The centrifugal compressors will be manufactured at GE Oil & Gas facilities in Le Creusot France and will be shipped to Kuwait in December of 2008. These will be four-stage barrel-type compressors, driven by 560 KW electrical motors....
The GE shareholder’s meeting in April represents a great opportunity for the Erie region to polish its image.“I think it’s an awesome, tremendous opportunity that comes along maybe once every 15 years,” said Jim Dible, chief executive of the Erie Regional Chamber and Growth Partnership. “I don’t know of another opportunity to present Erie in its brightest light to more people from around the country.”...
KOC selects GE compressors
The Kuwait Oil Company has selected GE Oil & Gas compressor technology for the new Oil and Gas Gathering Center 24 (GC24) in Kuwait's Sabriya field, reported Kuwait Times. GE will supply two electric motor-driven centrifugal compressors for the project, which is part of Kuwait Oil Company's development plan for northern Kuwait. The centrifugal compressors will be manufactured at GE Oil & Gas facilities in Le Creusot France and will be shipped to Kuwait in December of 2008. These will be four-stage barrel-type compressors, driven by 560 KW electrical motors....
Recent News: Dividend, GE Aviation, GE Healthcare, GE Money, United Kingdom, and GE Powered 777-300ER
GE Board of Directors Authorizes Regular Quarterly Dividend
The Board of Directors of General Electric Company (NYSE:GE) today authorized a regular quarterly dividend of $0.31 per outstanding share of the Company's common stock. The dividend is payable April 25, 2008 to shareowners of record at the close of business on February 25, 2008. The ex-dividend date is February 21, 2008....
GE Aviation Achieves Boeing Performance Excellence Award
GE Aviation has been selected as a recipient of a Boeing Performance Excellence Award for 2007. The Boeing Company presents Performance Excellence Awards annually to recognize superior performance by its suppliers...
GE Healthcare’s arm to scale up business
GE Healthcare’s life sciences business unit is targeting to scale up its revenue from sales by 40 per cent in the country by the end of this year. While its sales are now pegged at $18.5 million, the company proposes to increase it to $27 million by enhancing the sale of equipment to large biotech and pharma companies such as Biocon, Shantha and Biotechnic....
U.S. congressman decries GE Money's move to UK
New York congressman on Friday decried General Electric Co's plan to move its core consumer financial arm's headquarters to London from Connecticut, calling it a "call to action" for policymakers....
GE: Imagination at Work (But Not So Much In the U.S.)
In England, they shipped all their troublesome people to Australia. At General Electric, apparently they ship them to London. In another blow to U.S. pride and corporate tax revenue, the conglomerate is packing up its consumer-finance division from its current Stamford, Conn., headquarters and sending it to London, England. But can the unit flee its problems?...
GE Money relocating to London
US conglomerate General Electric has decided to relocate the headquarters of its key consumer financing business, GE Money, from Connecticut to London, a GE spokesman said Friday....
GE Aviation Achieves Boeing Performance Excellence Award
GE Aviation has been selected as a recipient of a Boeing Performance Excellence Award for 2007. The Boeing Company presents Performance Excellence Awards annually to recognize superior performance by its suppliers...
GE probes three 777-300ER power-loss incidents
An unusual rash of engine shutdowns since early December has temporarily stranded three normally reliable General Electric-powered Boeing 777-300ERs....
The Board of Directors of General Electric Company (NYSE:GE) today authorized a regular quarterly dividend of $0.31 per outstanding share of the Company's common stock. The dividend is payable April 25, 2008 to shareowners of record at the close of business on February 25, 2008. The ex-dividend date is February 21, 2008....
GE Aviation Achieves Boeing Performance Excellence Award
GE Aviation has been selected as a recipient of a Boeing Performance Excellence Award for 2007. The Boeing Company presents Performance Excellence Awards annually to recognize superior performance by its suppliers...
GE Healthcare’s arm to scale up business
GE Healthcare’s life sciences business unit is targeting to scale up its revenue from sales by 40 per cent in the country by the end of this year. While its sales are now pegged at $18.5 million, the company proposes to increase it to $27 million by enhancing the sale of equipment to large biotech and pharma companies such as Biocon, Shantha and Biotechnic....
U.S. congressman decries GE Money's move to UK
New York congressman on Friday decried General Electric Co's plan to move its core consumer financial arm's headquarters to London from Connecticut, calling it a "call to action" for policymakers....
GE: Imagination at Work (But Not So Much In the U.S.)
In England, they shipped all their troublesome people to Australia. At General Electric, apparently they ship them to London. In another blow to U.S. pride and corporate tax revenue, the conglomerate is packing up its consumer-finance division from its current Stamford, Conn., headquarters and sending it to London, England. But can the unit flee its problems?...
GE Money relocating to London
US conglomerate General Electric has decided to relocate the headquarters of its key consumer financing business, GE Money, from Connecticut to London, a GE spokesman said Friday....
GE Aviation Achieves Boeing Performance Excellence Award
GE Aviation has been selected as a recipient of a Boeing Performance Excellence Award for 2007. The Boeing Company presents Performance Excellence Awards annually to recognize superior performance by its suppliers...
GE probes three 777-300ER power-loss incidents
An unusual rash of engine shutdowns since early December has temporarily stranded three normally reliable General Electric-powered Boeing 777-300ERs....
Recent News: GE Money goes to London, William Cary, and GE & GOOG-411
GE Money moving to London
General Electric is moving the headquarters of its core consumer finance division from Connecticut to London in a move symbolising a shift in the US conglomerate's centre of gravity.
The decision by one of the largest and oldest companies in the US to relocate a business with $25bn (£13bn) of revenues a year to London underlines the increasingly global nature of GE. It is also a boost for the UK capital, which has been challenging New York's supremacy as a global financial centre....
UPDATE 2-GE names Cary to head GE Money, Nissen retiring
General Electric Co. on Thursday said William Cary has been named president and chief executive of GE Money, its consumer financial arm, succeeding David Nissen, who is retiring. Nissen, 56, is the third high-level GE executive to retire this year...
GE to Ship Google Phone, Kind Of
Tucked away in the Thomson booth at last month's CES were their GE branded phones, largely forgotten by most of the tech world. Heck, most conventional cordless phones have been forgotten by the tech world. And this is exactly what it is: not an Android phone, but a cordless phone that uses Google as an information service...
Google gets 411 button on new GE home phones
Normally we give traditional wireless home phones about as much attention around here as talking moose heads on the wall, but when the New York Times points out one which might be cool we have to check it out. They in fact seem to be right - the forthcoming GE Premiere DECT 6.0 28821FJ3 has a nifty GOOG-411 button centered for you to press for business information calls...
William H. Cary Named President and CEO of GE Money
William H. “Bill” Cary has been named president and CEO of GE Money, a leading global provider of credit services to retailers, auto dealers and consumers, GE Chairman and CEO Jeffrey R. Immelt announced today. Cary, 48, succeeds David R. Nissen, who is retiring. Cary has served as president and CEO of GE Money Europe, Middle East and Africa, the largest group within GE Money, since February 2006. He is a senior vice president of GE...
General Electric is moving the headquarters of its core consumer finance division from Connecticut to London in a move symbolising a shift in the US conglomerate's centre of gravity.
The decision by one of the largest and oldest companies in the US to relocate a business with $25bn (£13bn) of revenues a year to London underlines the increasingly global nature of GE. It is also a boost for the UK capital, which has been challenging New York's supremacy as a global financial centre....
UPDATE 2-GE names Cary to head GE Money, Nissen retiring
General Electric Co. on Thursday said William Cary has been named president and chief executive of GE Money, its consumer financial arm, succeeding David Nissen, who is retiring. Nissen, 56, is the third high-level GE executive to retire this year...
GE to Ship Google Phone, Kind Of
Tucked away in the Thomson booth at last month's CES were their GE branded phones, largely forgotten by most of the tech world. Heck, most conventional cordless phones have been forgotten by the tech world. And this is exactly what it is: not an Android phone, but a cordless phone that uses Google as an information service...
Google gets 411 button on new GE home phones
Normally we give traditional wireless home phones about as much attention around here as talking moose heads on the wall, but when the New York Times points out one which might be cool we have to check it out. They in fact seem to be right - the forthcoming GE Premiere DECT 6.0 28821FJ3 has a nifty GOOG-411 button centered for you to press for business information calls...
William H. Cary Named President and CEO of GE Money
William H. “Bill” Cary has been named president and CEO of GE Money, a leading global provider of credit services to retailers, auto dealers and consumers, GE Chairman and CEO Jeffrey R. Immelt announced today. Cary, 48, succeeds David R. Nissen, who is retiring. Cary has served as president and CEO of GE Money Europe, Middle East and Africa, the largest group within GE Money, since February 2006. He is a senior vice president of GE...
Recent News: Qatar, TSA - GE Security, GE Money, and GE Real Estate
GE to set up Qatar tech park facility next year, says official
THE General Electric Company (GE), which has Qatar as one focus area of its expansion, would open its facility at the Qatar Science and Technology Park (QSTP) in late 2009, GE Oil and Gas chief information officer Bernardo Nicoletti said.He was addressing a gathering of faculty, students and staff at Carnegie Mellon University in Qatar...
TSA Revises Existing Explosives Detection System Order to Include GE Security's Next-Generation CTX(TM) 9400 EDS for Use at U.S. Airports
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced the U.S. Transportation Security Administration has revised its previous order for 80 CTX 9000 DSi units to include GE Security's newest explosives detection system....
Long queue for GE Money business
The race to acquire the personal and home loan portfolio of General Electric’s consumer finance company, GE Money Financial Services is hotting up. Around a dozen players, Indian as well as foreign, have expressed interest in buying these divisions. The list includes...
GE Provides Cash for 936,000-SF Development
CT-based GE Real Estate has contributed $8.5 million toward the development cost of a 936,000-sf speculative distribution building here, to be called Salt River Two, being built by Lauth Property Group LLC. The spec building is going up next to Lauth’s already successful distribution facility, Salt River One...
TSA Revises Existing Explosives Detection System Order to Include GE Security's Next-Generation CTX™ 9400 EDS for Use at U.S. Airports
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced the U.S. Transportation Security Administration (TSA) has revised its previous order for 80 CTX 9000 DSi units to include GE Security’s newest explosives detection system (EDS), the CTX 9400. The revised order now includes 41 CTX 9000 and 39 CTX 9400 units. The 39 CTX 9400 units add to the two CTX 9400 upgrades previously installed for TSA evaluation, and the 14 CTX 9400 upgrades ordered by the TSA for future installations...
THE General Electric Company (GE), which has Qatar as one focus area of its expansion, would open its facility at the Qatar Science and Technology Park (QSTP) in late 2009, GE Oil and Gas chief information officer Bernardo Nicoletti said.He was addressing a gathering of faculty, students and staff at Carnegie Mellon University in Qatar...
TSA Revises Existing Explosives Detection System Order to Include GE Security's Next-Generation CTX(TM) 9400 EDS for Use at U.S. Airports
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced the U.S. Transportation Security Administration has revised its previous order for 80 CTX 9000 DSi units to include GE Security's newest explosives detection system....
Long queue for GE Money business
The race to acquire the personal and home loan portfolio of General Electric’s consumer finance company, GE Money Financial Services is hotting up. Around a dozen players, Indian as well as foreign, have expressed interest in buying these divisions. The list includes...
GE Provides Cash for 936,000-SF Development
CT-based GE Real Estate has contributed $8.5 million toward the development cost of a 936,000-sf speculative distribution building here, to be called Salt River Two, being built by Lauth Property Group LLC. The spec building is going up next to Lauth’s already successful distribution facility, Salt River One...
TSA Revises Existing Explosives Detection System Order to Include GE Security's Next-Generation CTX™ 9400 EDS for Use at U.S. Airports
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced the U.S. Transportation Security Administration (TSA) has revised its previous order for 80 CTX 9000 DSi units to include GE Security’s newest explosives detection system (EDS), the CTX 9400. The revised order now includes 41 CTX 9000 and 39 CTX 9400 units. The 39 CTX 9400 units add to the two CTX 9400 upgrades previously installed for TSA evaluation, and the 14 CTX 9400 upgrades ordered by the TSA for future installations...
PBS Nightly Business Report: One on One with GE CEO Jeffrey Immelt
One on One with GE CEO Jeffrey Immelt
SUSIE GHARIB: Many executives find it hard to be upbeat these days with all the concerns about the wobbly U.S. economy. But the chairman and CEO of General Electric Jeffrey Immelt is pretty cheery. He expects GE revenues to grow as much as 15 percent this year and earnings to increase by 10 percent. A short while ago I sat down with Immelt and he told me why he won't change his forecast even if the U.S. economy slips into recession.
JEFFREY IMMELT, CEO, GENERAL ELECTRIC: The company today is much more globally diverse and the businesses we're in have more tailwind, you know the, the big infrastructure businesses, health care, even commercial finance, are more insulated against just the U.S. consumer. What I would say, Susie, for your viewers, is it's as confusing at times as I can remember in my 25 years with the company. Clearly there are places that are really slow. But even when I look at some of the leading indicators I look at that, you know, that maybe forecast a recession -- like even NBC -- they're still pretty robust.
More...
SUSIE GHARIB: Many executives find it hard to be upbeat these days with all the concerns about the wobbly U.S. economy. But the chairman and CEO of General Electric Jeffrey Immelt is pretty cheery. He expects GE revenues to grow as much as 15 percent this year and earnings to increase by 10 percent. A short while ago I sat down with Immelt and he told me why he won't change his forecast even if the U.S. economy slips into recession.
JEFFREY IMMELT, CEO, GENERAL ELECTRIC: The company today is much more globally diverse and the businesses we're in have more tailwind, you know the, the big infrastructure businesses, health care, even commercial finance, are more insulated against just the U.S. consumer. What I would say, Susie, for your viewers, is it's as confusing at times as I can remember in my 25 years with the company. Clearly there are places that are really slow. But even when I look at some of the leading indicators I look at that, you know, that maybe forecast a recession -- like even NBC -- they're still pretty robust.
More...
Recent News: GE Gas Turbines, Jet Engine Demand, Bob Nardelli, GE Money, GE Commerical Finance, and GE Fanuc
IEC picks GE gas turbines despite higher cost: IEC: Siemens did not meet the tender terms
Sources inform "Globes" that Israel Electric Corporation (IEC) wants to buy gas turbines from General Electric Company for its Ramat Hovav power station even though it received cheaper bids from Siemens AG. However, some IEC executives question this position ahead of the board of directors' final decision on the issue next month...
Jet engine demand soaring at GE plant
Strong demand for jet engines helped to propel General Electric Co. to a 15 percent profit increase in the fourth quarter, the company recently reported...
ACT 3: Nardelli follows script from Home Depot, GE
Think of it as "Nardelli, the Sequel." And like in many big-budget follow-ups, Bob Nardelli, six months into his role as Chrysler LLC's top executive, is following much of the same storyline from his days of running Home Depot. Both at Home Depot and Chrysler, General Electric veteran Nardelli set out to rapidly change corporate culture by shaking up the top executive ranks and bolstering the role of the human resources department. He put greater emphasis on inventory management and customer satisfaction and working to expand global operations...
GE Money seeks ally for mortgage business
GE Money India is looking for a strategic partner to drive scale just as it did with the State Bank of India (SBI) for its card business. It is trying to replicate its card model in its joint venture with Wizard Home Loans, a non-banking finance company from Australia...
GE Sensing acquiresRheonik Coriolis meters
GE Sensing and Inspection Technologies is to acquire Rheonik, a leading manufacturer of high accuracy Coriolis mass flowmeters used in the oil and gas, process and power industries...
GE Acquires Sole Ownership of East Asia GE Commercial Finance
GE Commercial Finance today announced that it has entered into a definitive agreement to become the sole shareholder of East Asia GE Commercial Finance (EAGE). In 2001, GE acquired a 50 percent equity interest in EAGE. Under the terms of the new definitive agreement, EAGE, with the support of GE, will repurchase the remaining 50 percent of its outstanding equity interest from Bank of East Asia. Acquiring sole ownership of EAGE is a key step towards executing GE's long-term strategy for the Greater China market...
GE CNC units programmed directly onsite
With Manual Guide i, the current Fanuc GE CNC controllers can be directly programmed onsite in a simple manner - regardless of whether turning, milling or combining machining processes...
Sources inform "Globes" that Israel Electric Corporation (IEC) wants to buy gas turbines from General Electric Company for its Ramat Hovav power station even though it received cheaper bids from Siemens AG. However, some IEC executives question this position ahead of the board of directors' final decision on the issue next month...
Jet engine demand soaring at GE plant
Strong demand for jet engines helped to propel General Electric Co. to a 15 percent profit increase in the fourth quarter, the company recently reported...
ACT 3: Nardelli follows script from Home Depot, GE
Think of it as "Nardelli, the Sequel." And like in many big-budget follow-ups, Bob Nardelli, six months into his role as Chrysler LLC's top executive, is following much of the same storyline from his days of running Home Depot. Both at Home Depot and Chrysler, General Electric veteran Nardelli set out to rapidly change corporate culture by shaking up the top executive ranks and bolstering the role of the human resources department. He put greater emphasis on inventory management and customer satisfaction and working to expand global operations...
GE Money seeks ally for mortgage business
GE Money India is looking for a strategic partner to drive scale just as it did with the State Bank of India (SBI) for its card business. It is trying to replicate its card model in its joint venture with Wizard Home Loans, a non-banking finance company from Australia...
GE Sensing acquiresRheonik Coriolis meters
GE Sensing and Inspection Technologies is to acquire Rheonik, a leading manufacturer of high accuracy Coriolis mass flowmeters used in the oil and gas, process and power industries...
GE Acquires Sole Ownership of East Asia GE Commercial Finance
GE Commercial Finance today announced that it has entered into a definitive agreement to become the sole shareholder of East Asia GE Commercial Finance (EAGE). In 2001, GE acquired a 50 percent equity interest in EAGE. Under the terms of the new definitive agreement, EAGE, with the support of GE, will repurchase the remaining 50 percent of its outstanding equity interest from Bank of East Asia. Acquiring sole ownership of EAGE is a key step towards executing GE's long-term strategy for the Greater China market...
GE CNC units programmed directly onsite
With Manual Guide i, the current Fanuc GE CNC controllers can be directly programmed onsite in a simple manner - regardless of whether turning, milling or combining machining processes...
Friday, February 8, 2008
Recent News: Schenectady, GE Healthcare, and Plant Closing
Rule nearly brings down GE icon
A new rule intended to clean up the city’s streetscapes almost had the unintended consequence of eliminating the historic General Electric sign...
GE Healthcare showcases motion-free imaging for routine clinical applications at Arab Health 2008
Continuing its commitment to advancing the earlier diagnosis of disease, GE Healthcare is addressing the biggest clinical challenge in positron emission tomography/computed tomography (PET/CT) with exclusive technologies for respiratory and cardiac motion management....
GE workers face weeklong shutdown at Appliance Park
GE Consumer and Industrial is feeling the pinch of the nationwide slump in home sales and new housing starts...
A new rule intended to clean up the city’s streetscapes almost had the unintended consequence of eliminating the historic General Electric sign...
GE Healthcare showcases motion-free imaging for routine clinical applications at Arab Health 2008
Continuing its commitment to advancing the earlier diagnosis of disease, GE Healthcare is addressing the biggest clinical challenge in positron emission tomography/computed tomography (PET/CT) with exclusive technologies for respiratory and cardiac motion management....
GE workers face weeklong shutdown at Appliance Park
GE Consumer and Industrial is feeling the pinch of the nationwide slump in home sales and new housing starts...
Recent News: GE Healthcare, Whatman, GE Real Estate, Air Force Contract, and F-35 Engine.
GE strengthens healthcare with $718m Whatman buy
GE Healthcare has agreed to purchase UK laboratory equipment maker Whatman for £363m ($718m) in a move aimed at advancing GE's life sciences business...
GE buys firm that once made artists' paper
GE Healthcare, a subsidiary of the US group General Electric, is to acquire lab equipment maker Whatman for £363m...
DEAL OF THE DAY: GE Real Estate Provides $32.5M Loan for Acquisition of 382-Unit Property
GE Real Estate has provided a $32.5 million, on-book loan to the Bellevue, Wash.-based Longwell Co. for its acquisition and repositioning of the 382-unit Avante Apartments in Kent...
GE Unit Wins $15.6M Air Force Contract
A unit of General Electric Co. has won a $15.6 million contract boost to perform engine hardware redesign work for the Air Force, the Defense Department said late Tuesday...
Bush Plan Allots No Money For GE Engine
President Bush's $3.1 trillion proposal for the 2009 federal budget ensures that General Electric and United Technologies Corp. will still have something to wrestle about on Capitol Hill...
GE Healthcare has agreed to purchase UK laboratory equipment maker Whatman for £363m ($718m) in a move aimed at advancing GE's life sciences business...
GE buys firm that once made artists' paper
GE Healthcare, a subsidiary of the US group General Electric, is to acquire lab equipment maker Whatman for £363m...
DEAL OF THE DAY: GE Real Estate Provides $32.5M Loan for Acquisition of 382-Unit Property
GE Real Estate has provided a $32.5 million, on-book loan to the Bellevue, Wash.-based Longwell Co. for its acquisition and repositioning of the 382-unit Avante Apartments in Kent...
GE Unit Wins $15.6M Air Force Contract
A unit of General Electric Co. has won a $15.6 million contract boost to perform engine hardware redesign work for the Air Force, the Defense Department said late Tuesday...
Bush Plan Allots No Money For GE Engine
President Bush's $3.1 trillion proposal for the 2009 federal budget ensures that General Electric and United Technologies Corp. will still have something to wrestle about on Capitol Hill...
Recent News: Digital Cameras, Aircraft Engines, Spain Colonial, Navy Contract, and GE Oil & Gas
RadioShack Adds Two New Models to its GE Digital Camera Lineup
General Imaging, the worldwide exclusive licensee for GE-branded digital cameras, and RadioShack Corporation today announced the consumer electronics retailer will add two new models to its GE lineup...
Safran, GE to offer 'green' engine by 2015
engine manufacturing unit Snecma and its US partner General Electric should be ready to offer a 'green' aircraft engine by 2015, Snecma vice president commercial aircraft Francois Planaud said...
Two main Colonial shareholders agree to sell if ICD bids
The two main shareholders in Spanish property firm Colonial have agreed to sell their stakes to Dubai's sovereign wealth fund if it decides to bid, the Investment Corporation of Dubai said on Friday...
GE Unit Wins $193M Navy Contract
A unit of General Electric Co. received a $193 million contract to repair, replace and support engine components for Navy aircraft, the Defense Department said late Thursday...
Power Creative signs GE and ResCare divisions
Louisville-based advertising firm Power Creative has signed GE Security and ResCare HomeCare as clients, the firm announced....
Colonial rejects opening books to GE on confidentiality concerns - report UPDATE
Inmobiliaria Colonial SA has rejected opening its books to General Electric -- at least for the moment -- because it is not able to ensure confidentiality, Cinco Dias reported, citing unnamed sources....
Erdoğan meets with Sabancı, GE chairs
Prime Minister Recep Tayyip Erdoğan hosted a 45-minute meeting yesterday with General Electric CEO and Chairman Jeffrey R. Immelt and Sabancı Holding Chairman Güler Sabancı at his office in Ankara...
GE to supply compressor technologies to QAFCO
GE Oil & Gas has signed a letter of intent (LOI) the Qatar Fertilizer Company (QAFCO) for the supply of gas turbine and compressor technology...
General Imaging, the worldwide exclusive licensee for GE-branded digital cameras, and RadioShack Corporation today announced the consumer electronics retailer will add two new models to its GE lineup...
Safran, GE to offer 'green' engine by 2015
engine manufacturing unit Snecma and its US partner General Electric should be ready to offer a 'green' aircraft engine by 2015, Snecma vice president commercial aircraft Francois Planaud said...
Two main Colonial shareholders agree to sell if ICD bids
The two main shareholders in Spanish property firm Colonial have agreed to sell their stakes to Dubai's sovereign wealth fund if it decides to bid, the Investment Corporation of Dubai said on Friday...
GE Unit Wins $193M Navy Contract
A unit of General Electric Co. received a $193 million contract to repair, replace and support engine components for Navy aircraft, the Defense Department said late Thursday...
Power Creative signs GE and ResCare divisions
Louisville-based advertising firm Power Creative has signed GE Security and ResCare HomeCare as clients, the firm announced....
Colonial rejects opening books to GE on confidentiality concerns - report UPDATE
Inmobiliaria Colonial SA has rejected opening its books to General Electric -- at least for the moment -- because it is not able to ensure confidentiality, Cinco Dias reported, citing unnamed sources....
Erdoğan meets with Sabancı, GE chairs
Prime Minister Recep Tayyip Erdoğan hosted a 45-minute meeting yesterday with General Electric CEO and Chairman Jeffrey R. Immelt and Sabancı Holding Chairman Güler Sabancı at his office in Ankara...
GE to supply compressor technologies to QAFCO
GE Oil & Gas has signed a letter of intent (LOI) the Qatar Fertilizer Company (QAFCO) for the supply of gas turbine and compressor technology...
Monday, February 4, 2008
The Motley Fool - Dueling Fools: GE Bull
Dueling Fools: GE Bull
Normally, forecasts of 10% earnings growth -- such as the one made recently by General Electric (NYSE: GE) -- wouldn't cause a celebration. But in such volatile times, GE's stable and sturdy earnings should provide support for the stock and lead the shares down a bullish path by year's end. First, a little background. GE has historically commanded a 20% premium to the S&P 500. At its current price, though, it is selling for only around 14 times its 2008 estimated per-share earnings -- a slight discount to the S&P 500...
Normally, forecasts of 10% earnings growth -- such as the one made recently by General Electric (NYSE: GE) -- wouldn't cause a celebration. But in such volatile times, GE's stable and sturdy earnings should provide support for the stock and lead the shares down a bullish path by year's end. First, a little background. GE has historically commanded a 20% premium to the S&P 500. At its current price, though, it is selling for only around 14 times its 2008 estimated per-share earnings -- a slight discount to the S&P 500...
Recent News: United Arab Emirates, MEA Growth, Robert Wright, GE Asset Management, GE Money, and SmartPay
Mohammed, GE CEO explore business opportunities
General Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces, held talks Wednesday with Chief Executive Officer of General Electric Company (GE) Jeff Immelt over the diversified business opportunities available for foreign investors in the emirate of Abu Dhabi...
GE in strong global growth
General Electric Company has announced revenues from the Middle East and Africa region reached US$8 billion last year, up 45 per cent compared with revenues in 2006...
UPDATE: GE's Wright To Retire, Takes Post At Lee Equity
Robert Wright, vice chairman and director of General Electric Co. (GE), agreed to serve as senior advisor to Lee Equity Partners LLC, the private equity firm said Thursday...
GE announces 9 new cameras at PMA 2008
One of the largest photography trade shows is getting underway in Las Vegas. Most of the major companies are there, Kodak, Sony, Nikon, FujiFilm and a relative newcomer to digital Photography, GE. To date, GE hasn’t exactly wowed us with image quality but 9 new models may improve GE’s standing...
GE Asset Looks to Close the Information Loop
After 21 years at GE Asset Management, Damian Maroun has developed a good sense of what's expected from the trading desk. The senior vice president of global equity trading says his desk must provide information that gives portfolio managers an edge in today's marketplace...
Crisil puts GE Money arms on Rating Watch
Crisil has placed its ratings on the debt programmes of GE Money Financial Services Ltd (GEMFSL) and GE Money Housing Finance (GEMHF) on ‘Rating Watch with Developing Implications’...
GE subsidiary bows out of SmartPay purchase card program
GE Money is dropping out of the government charge card program, SmartPay 2, a company spokesman confirmed Jan. 31...
General Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces, held talks Wednesday with Chief Executive Officer of General Electric Company (GE) Jeff Immelt over the diversified business opportunities available for foreign investors in the emirate of Abu Dhabi...
GE in strong global growth
General Electric Company has announced revenues from the Middle East and Africa region reached US$8 billion last year, up 45 per cent compared with revenues in 2006...
UPDATE: GE's Wright To Retire, Takes Post At Lee Equity
Robert Wright, vice chairman and director of General Electric Co. (GE), agreed to serve as senior advisor to Lee Equity Partners LLC, the private equity firm said Thursday...
GE announces 9 new cameras at PMA 2008
One of the largest photography trade shows is getting underway in Las Vegas. Most of the major companies are there, Kodak, Sony, Nikon, FujiFilm and a relative newcomer to digital Photography, GE. To date, GE hasn’t exactly wowed us with image quality but 9 new models may improve GE’s standing...
GE Asset Looks to Close the Information Loop
After 21 years at GE Asset Management, Damian Maroun has developed a good sense of what's expected from the trading desk. The senior vice president of global equity trading says his desk must provide information that gives portfolio managers an edge in today's marketplace...
Crisil puts GE Money arms on Rating Watch
Crisil has placed its ratings on the debt programmes of GE Money Financial Services Ltd (GEMFSL) and GE Money Housing Finance (GEMHF) on ‘Rating Watch with Developing Implications’...
GE subsidiary bows out of SmartPay purchase card program
GE Money is dropping out of the government charge card program, SmartPay 2, a company spokesman confirmed Jan. 31...
Recent News: GE Money India, GE Capital Europe, GE Sensing & Inspection Technologies, Gas Turbine Engines, GE Oil & Gas, GE Energy (Wind), Healthcare
GE Money India names new CEO
In the midst of inducting a new strategic partner for its personal loan and mortgage business, GE Money India on Wednesday named Iqbal Singh as its new CEO, and said it expects to close the deal in 6-8 months...
GE unit to sell 18-month FRN on Wednesday -lead
GE Capital European Funding, guaranteed by GE Capital Corp, plans to sell an 18-month floating-rate note later on Wednesday, said an official at one of the lead managers...
New Corrosion-Resistant, Submersible Level Probe From GE
GE Sensing & Inspection Technologies, a unit of GE Enterprise Solutions (NYSE: GE), has introduced a new corrosion-resistant, submersible level probe that offers a reliable, accurate and economical solution to level measurement in a wide variety of applications. The new SLP has been developed to allow trouble-free operation in tasks ranging from level measurement in single tanks to multiple-point level data gathering in high value commodity storage facilities...
GE Frame 9FB Gas Turbines Surpass 8,000 Hours At Iberdrola’s Arcos III Plant
A GE 209FB combined-cycle system has surpassed 8,000 operating hours at CCC Arcos de la Frontera Grupo III (Arcos III) in Cadiz, Spain, the commercial launch site for GE’s 50-hertz, 9FB gas turbine technology. In commercial operation since March 2006, the Arcos III plant is owned by Spanish energy producer Iberdrola Generacion S.A. and is generating approximately 810 megawatts of power for the Spanish electricity grid. The 8,000-hour mark is considered an industry milestone...
GE Oil & Gas,StatoilHydro Pen Frame Deals For $300 Million
GE Oil & Gas unit secured two frame agreements to supply compression equipment and services to StatoilHydro, for more than $300 million total...
GE Money India seeks partners for personal loans, mortgage biz
GE Money India is scouting for a strategic partner for its wholly-owned personal loans and mortgage businesses, the newly appointed CEO and President, Mr Iqbal Singh has said...
New Corrosion-Resistant, Submersible Level Probe From GE
GE Sensing & Inspection Technologies, a unit of GE Enterprise Solutions (NYSE: GE), has introduced a new corrosion-resistant, submersible level probe that offers a reliable, accurate and economical solution to level measurement in a wide variety of applications. The new SLP has been developed to allow trouble-free operation in tasks ranging from level measurement in single tanks to multiple-point level data gathering in high value commodity storage facilities....
GE Energy reinforces leadership position in U.S. wind industry
GE Energy reinforced its position as North America’s leading supplier of wind turbines in 2007, with another record-breaking year for the U.S. wind industry...
GE Healthcare invests in ICL-managed Shefa
GE Healthcare, a $17 billion business of General Electric Company (GE), yersterday announced an investment in Shefa Healthcare Fund (SHF) managed by Injazat Capital Limited (ICL)...
In the midst of inducting a new strategic partner for its personal loan and mortgage business, GE Money India on Wednesday named Iqbal Singh as its new CEO, and said it expects to close the deal in 6-8 months...
GE unit to sell 18-month FRN on Wednesday -lead
GE Capital European Funding, guaranteed by GE Capital Corp, plans to sell an 18-month floating-rate note later on Wednesday, said an official at one of the lead managers...
New Corrosion-Resistant, Submersible Level Probe From GE
GE Sensing & Inspection Technologies, a unit of GE Enterprise Solutions (NYSE: GE), has introduced a new corrosion-resistant, submersible level probe that offers a reliable, accurate and economical solution to level measurement in a wide variety of applications. The new SLP has been developed to allow trouble-free operation in tasks ranging from level measurement in single tanks to multiple-point level data gathering in high value commodity storage facilities...
GE Frame 9FB Gas Turbines Surpass 8,000 Hours At Iberdrola’s Arcos III Plant
A GE 209FB combined-cycle system has surpassed 8,000 operating hours at CCC Arcos de la Frontera Grupo III (Arcos III) in Cadiz, Spain, the commercial launch site for GE’s 50-hertz, 9FB gas turbine technology. In commercial operation since March 2006, the Arcos III plant is owned by Spanish energy producer Iberdrola Generacion S.A. and is generating approximately 810 megawatts of power for the Spanish electricity grid. The 8,000-hour mark is considered an industry milestone...
GE Oil & Gas,StatoilHydro Pen Frame Deals For $300 Million
GE Oil & Gas unit secured two frame agreements to supply compression equipment and services to StatoilHydro, for more than $300 million total...
GE Money India seeks partners for personal loans, mortgage biz
GE Money India is scouting for a strategic partner for its wholly-owned personal loans and mortgage businesses, the newly appointed CEO and President, Mr Iqbal Singh has said...
New Corrosion-Resistant, Submersible Level Probe From GE
GE Sensing & Inspection Technologies, a unit of GE Enterprise Solutions (NYSE: GE), has introduced a new corrosion-resistant, submersible level probe that offers a reliable, accurate and economical solution to level measurement in a wide variety of applications. The new SLP has been developed to allow trouble-free operation in tasks ranging from level measurement in single tanks to multiple-point level data gathering in high value commodity storage facilities....
GE Energy reinforces leadership position in U.S. wind industry
GE Energy reinforced its position as North America’s leading supplier of wind turbines in 2007, with another record-breaking year for the U.S. wind industry...
GE Healthcare invests in ICL-managed Shefa
GE Healthcare, a $17 billion business of General Electric Company (GE), yersterday announced an investment in Shefa Healthcare Fund (SHF) managed by Injazat Capital Limited (ICL)...
