GE finds itself on wrong side of Obama's defense agenda
For more than a year, General Electric has been notable among U.S. corporations for enjoying generally friendly relations with the White House. The company was broadly supportive of President Obama's stimulus efforts, and its chairman, Jeffrey Immelt, sits on a White House economic advisory board.
But now the White House and GE are clashing publicly over a fighter-jet engine -- built by the company and its British partner, Rolls-Royce -- that has been on the Pentagon's chopping block for years, only to be rescued repeatedly by Congress. The issue is poised to come to a head Tuesday during a House subcommittee markup for the annual defense appropriations bill, which Obama has threatened to veto if it has the $485 million for the engine.
GE -- whose financing arm received billions of dollars in federal bailout funds -- has launched a furious lobbying and media effort in recent months aimed at securing funding for the engine, which would serve as an alternate for Lockheed Martin's F-35 Joint Strike Fighter. Pratt & Whitney, the Pentagon's choice for developing an F-35 engine, has fired back with a lobbying and advertising campaign of its own.
Showing posts with label Bailout. Show all posts
Showing posts with label Bailout. Show all posts
Wednesday, July 28, 2010
Tuesday, October 14, 2008
Recent News: Fed Cash, Buy Rating, Dow Rally, Immelt on Leadership, and GE buying in India
GE Eschews - Or Does It Seek? - Access To Fed Cash
How can you tell when General Electric is prevaricating about the status of its capital position? Answer: when you can see its CFO’s lips moving. On Friday, the conglomerate’s finance chief admitted the company had reviewed the way the Federal Reserve was conducting its purchase of commercial paper. Then quickly insisted that GE was capable of completely funding itself, and would have no need to seek recourse to a government buyer-of-last-resort funding instument...
General Electric "buy," target price reduced
Analyst Stephen A O’Neil of Hilliard Lyons maintains his "buy" rating on General Electric Co (GE), while reducing his estimates for the company. The target price has been reduced from $30 to $25....
General Electric (GE) Not Participating In Today's Rally
For some reason General Electric is not participating in today's 600 point rally. Shares of GE are down 4% today to $20.63. GE did rise 13% on Friday, so it could have something to do with that....
GE’s Jeff Immelt on leadership renewal
Former Harvard MBA Jeff Immelt just delighted a packed conference hall (actually a big tent) with his observations about the need for leaders to renew themselves. “You’ve got to be able to do this,” he said. “Leadership is really a journey into yourself. I take every criticism personally, I think about them, and I go to bed at night thinking: ‘Oh God, what a failure I am.’ And then I wake up in the morning and I say: ‘Hello, handsome!’ ”...
What Credit Crunch? GE wants to buy in India
Even as the financial world seems to be crumbling and General Electric’s profits are headed south, the company may be looking for acquisitions in India. The other day my colleague Mehul Srivastava and I met with GE India boss Tejpreet Chopra. He sketched out an ambitious plan to boost the company’s revenues in the country to $8 billion by 2010 or 2011, from $2.6 billion today. “There will be some element of acquisitions in meeting our (sales) targets,” Chopra said...
How can you tell when General Electric is prevaricating about the status of its capital position? Answer: when you can see its CFO’s lips moving. On Friday, the conglomerate’s finance chief admitted the company had reviewed the way the Federal Reserve was conducting its purchase of commercial paper. Then quickly insisted that GE was capable of completely funding itself, and would have no need to seek recourse to a government buyer-of-last-resort funding instument...
General Electric "buy," target price reduced
Analyst Stephen A O’Neil of Hilliard Lyons maintains his "buy" rating on General Electric Co (GE), while reducing his estimates for the company. The target price has been reduced from $30 to $25....
General Electric (GE) Not Participating In Today's Rally
For some reason General Electric is not participating in today's 600 point rally. Shares of GE are down 4% today to $20.63. GE did rise 13% on Friday, so it could have something to do with that....
GE’s Jeff Immelt on leadership renewal
Former Harvard MBA Jeff Immelt just delighted a packed conference hall (actually a big tent) with his observations about the need for leaders to renew themselves. “You’ve got to be able to do this,” he said. “Leadership is really a journey into yourself. I take every criticism personally, I think about them, and I go to bed at night thinking: ‘Oh God, what a failure I am.’ And then I wake up in the morning and I say: ‘Hello, handsome!’ ”...
What Credit Crunch? GE wants to buy in India
Even as the financial world seems to be crumbling and General Electric’s profits are headed south, the company may be looking for acquisitions in India. The other day my colleague Mehul Srivastava and I met with GE India boss Tejpreet Chopra. He sketched out an ambitious plan to boost the company’s revenues in the country to $8 billion by 2010 or 2011, from $2.6 billion today. “There will be some element of acquisitions in meeting our (sales) targets,” Chopra said...
