Recent News: NBC Universal, Digital Cameras in Dubai, Clean Energy, Immelt Dismissal?, GE Medical, US Navy, and Stock Performance

NBC Universal to cut 3 percent of 2009 budget: report
NBC Universal, the broadcasting unit of General Electric Co, plans to cut $500 million from next year's budget, according to a report by The Wall Street Journal on Sunday....

General Electric’s Pundits and Legacy Not Enough to Force a Turnaround (GE)
General Electric has had its defenders continuously go on CNBC (of which GE is the parent company) to make its case to investors that things are getting better, and that a bottom is imminent. Now, even after a 1200 point rally off the Dow’s bottom, GE is still little more than $1 off its recent 52-week low. We’re certainly not rooting against GE, but the prospects of the stock making a comeback at this point in the year seem very slim....

Dubai Electronics Show Marks Official Launch of GE Digital Cameras in Middle East
General Imaging, the worldwide exclusive licensee for GE digital cameras, is continuing its global expansion with a strong move into the Middle East. General Imaging is exhibiting through its Middle East distributor at this week's GITEX Shopper & Consumer Electronics Expo in Dubai, United Arab Emirates. General Imaging's founder, CEO and Chairman Hiroshi "Hugh" Komiya, and Rene Buhay, Senior Vice President for Sales & Marketing, are taking part in a press event there on Tuesday. ...

Clean Energy Meltdown: Now GE’s Bailing
Meltdown watch, continued. Capital is quickly drying up for new clean-energy projects, and what is available costs more, throwing a wrench into companies’ plans to expand renewable energy.
General Electric is the latest to throw in the towel, after the abrupt departure of Lehman Brothers and Morgan Stanley. The conglomerate, which makes energy gear like wind and gas turbines as well as underwriting renewable-energy projects, says it is bailing out of the clean-tech investment game for now...

GE's Board of Directors Should Dismiss CEO Jeff Immelt, Says the Free Enterprise Action Fund (Ticker: FEAOX); Immelt's Failed Leadership Hurts Shareholders
The board of directors of the General Electric Company should immediately dismiss Chairman and CEO Jeff Immelt says Action Fund Management, the investment adviser to the Free Enterprise Action Fund (Ticker: FEAOX), a publicly-traded mutual fund. AFM urges GE's board to take immediate action because after years of failed leadership on the part of Immelt, the company is in disarray and its stock is in freefall....

GE Medical CEO talks about the company's business strategy
The key to effective early health monitoring is a strong front end in diagnostics and in molecular imaging -- an area where GE Healthcare has a strategy in place, GE Medical Diagnostics CEO John Chiminski said in an interview with BTM Exchange. The acquisition of U.K.-based firm Amersham, which specializes in radiopharmaceuticals, was crucial in implementing GE Medical Diagnostics' corporate strategy and paved the way for the company...

GE Marine power for LHA 6
GE Marine LM2500+ marine aeroderivative gas turbines have been selected by Northrop Grumman Shipbuilding (NGSB), Pascagoula, Miss., to power the United States Navy's new LHA 6 amphibious assault ship....

General Electric Further To Fall, Says Market Timer Frank Kollar
There are two possible scenarios for shares of General Electric (NYSE: GE). The first is that a bottom is in around $19.00 a share (closing price). The second is quite bearish. GE is now well below its 2002 bear market lows. Typically when a stock breaks below a long-term support level, it reaches the next support level before a new bottom can be made. The next support level is all the way down at $16.50, which is the 127.2% retracement of the entire 2002-2007 advance. ...

GE sees strength in environmental business
The credit crisis and weakening economy are not crimping General Electric Co.'s environmental business, the industrial and commercial conglomerate said Tuesday....