GE partners local firm to build "green" living communities in Philippines
General Electric (GE) and Philippine real estate giant Ayala Land Inc. on Tuesday announced their partnership to build a massive ecologically-sustainable land project in the southern suburban of the Philippine capital of Metro Manila....
GE here at crucial time
The graffiti has been removed, garbage collected and billboards hung to invite hundreds of General Electric Co. shareholders to Erie.There's no telling if it will do anything to improve their mood.GE shareholders and executives, who will convene their annual shareholders meeting Wednesday morning, arrive at what could be a crucial time for the world's largest conglomerate...
An angry GE pensioner (Editorial)
General Electric Company CEO Jeffrey Immelt has some explaining to do at tomorrow's annual meeting in Erie, Pennsylvania in the wake of a first-quarter earnings report that rattled the stocks of shareholders, including many GE retirees in Pittsfield and Berkshire County. Unless Mr. Immelt has suddenly become incompetent, GE's difficulties suggest that the company is not immune to the economic realities that plague other companies, no matter what shareholders and top executives believe...
GE says it wants tax-exempt facility
A multimillion-dollar plant to handle toxic PCBs dredged from the bottom of the Hudson River is the focus of a tax fight between General Electric Co. and the town of Fort Edward. Town officials were stunned when GE, which is building the plant on 110 acres along the Champlain Canal, argued last month that the property should be tax-exempt, Supervisor Mitchell Suprenant said Monday....
Immelt Resists Calls to Shrink GE, Says Strategy Is `Intact'
Chief Executive Officer Jeffrey Immelt said he will resist calls to shrink General Electric Co. beyond an existing plan that includes reducing the company's consumer businesses in slowing economies. ``There are more reviews and intensity, but no real change to the strategy,'' Immelt said in an interview in advance of tomorrow's annual meeting, his first face-to-face meeting with investors since this month's surprise drop in profit. ``The strategy remains intact.''...
How real estate tripped up GE
Anyone who thinks the credit crunch will soon be behind us ought to look more closely at General Electric’s first-quarter results. While the headlines immediately following the disappointing numbers focused on GE as a bellwether for the broader economy, the company’s problems more clearly illustrate how much further real estate prices have to fall before the crunch is over...
ConocoPhillips-GE tie-up in waste water treatment
CONOCOPHILLIPS yesterday said GE Water & Process Technologies has become an equal co-venturer in the former’s Water Sustainability Centre (WSC) at the Qatar Science & Technology Park in Qatar...
GE Energy Executive to Serve on DOE-EAC
GE Energy's general manager of marketing for transmission and distribution business, John McDonald, has been invited by the US Secretary of Energy, Samuel Bodman, to serve a one-year term as a member of the US Department of Energy's Electricity Advisory Committee...
Showing posts with label Erie. Show all posts
Showing posts with label Erie. Show all posts
Tuesday, April 22, 2008
Recent News: Philippines, Erie, Pensioner, Tax-Exempt Facility, Jeffert Immelt, Real Estate, ConocoPhillips, and GE Energy
Recent News: Annual Meeting, Recession, Italy, Jack Welch, Shareholders, and Jet Engines: F136.
Erie welcomes GE leaders, shareholders
With General Electric Co. shareholders, executives and board members coming to Erie for Wednesday's annual shareholders meeting, the timing seemed perfect that GE Transportation was able to flex its financial muscle in the latest company earnings report...
Recession reports - Shocking GE results show size of crisis
FT reported that General Electric underlined the depth of the global financial crisis announcing its worst quarter in five years and slashing full year forecasts.The news, described as shocking by a senior GE executive, combined with data showing that US consumer confidence was at a 26 year low to send shares lower...
GE seeking acquisition opportunities in Italy
General Electric Co is seeking acquisition opportunities in Italy among small- and medium-sized companies with 'superior' technology and a strong growth potential, said General Electric International CEO Ferdinando Beccalli...
Former GE chief holsters his criticism
Former General Electric CEO Jack Welch backed away Thursday from comments he made the previous day criticizing his successor for missing earnings targets...
GE's future may be focus of shareholders
Officials at Fairfield-based General Electric may find a tougher audience than usual as they face shareholders at the conglomerate's annual meeting this week...
GE Rolls-Royce fighter engine team completes F136 high-altitude tests
The GE Rolls-Royce Fighter Engine Team has successfully completed a high-altitude afterburner testing program at the US Air Force Arnold Engineering Development Center in Tennessee, including common exhaust hardware for the F-35 Lightning II aircraft. The F136 engine is a 40,000+ lb. thrust, combat engine that will be available to power all variants of the F-35 for the US military and eight partner nations. All test objectives were reached as planned using an engine configured with Conventional Takeoff and Landing (CTOL) and Short Takeoff Vertical Landing (STOVL) common exhaust systems. The engine configuration included a production-size fan and functional augmentor allowing several run periods to full afterburner operation...
With General Electric Co. shareholders, executives and board members coming to Erie for Wednesday's annual shareholders meeting, the timing seemed perfect that GE Transportation was able to flex its financial muscle in the latest company earnings report...
Recession reports - Shocking GE results show size of crisis
FT reported that General Electric underlined the depth of the global financial crisis announcing its worst quarter in five years and slashing full year forecasts.The news, described as shocking by a senior GE executive, combined with data showing that US consumer confidence was at a 26 year low to send shares lower...
GE seeking acquisition opportunities in Italy
General Electric Co is seeking acquisition opportunities in Italy among small- and medium-sized companies with 'superior' technology and a strong growth potential, said General Electric International CEO Ferdinando Beccalli...
Former GE chief holsters his criticism
Former General Electric CEO Jack Welch backed away Thursday from comments he made the previous day criticizing his successor for missing earnings targets...
GE's future may be focus of shareholders
Officials at Fairfield-based General Electric may find a tougher audience than usual as they face shareholders at the conglomerate's annual meeting this week...
GE Rolls-Royce fighter engine team completes F136 high-altitude tests
The GE Rolls-Royce Fighter Engine Team has successfully completed a high-altitude afterburner testing program at the US Air Force Arnold Engineering Development Center in Tennessee, including common exhaust hardware for the F-35 Lightning II aircraft. The F136 engine is a 40,000+ lb. thrust, combat engine that will be available to power all variants of the F-35 for the US military and eight partner nations. All test objectives were reached as planned using an engine configured with Conventional Takeoff and Landing (CTOL) and Short Takeoff Vertical Landing (STOVL) common exhaust systems. The engine configuration included a production-size fan and functional augmentor allowing several run periods to full afterburner operation...
Saturday, April 19, 2008
Recent News: Jack Welch, Citigroup, Earnings, Jeffery Immelt, GE Retirees, Dubai and Middle East Growth
Welch backpedals, calls GE's Immelt "helluva CEO"
Former General Electric Co. chief Jack Welch changed his tune about Jeff Immelt, his successor as GE chairman and chief executive, on Thursday, calling him "a helluva CEO" in an appearance on CNBC business television...
Welch backtracks on diss of GE chief
Jack Welch admitted yesterday he “really stepped in it” by questioning the credibility of his successor at General Electric. Welch, the Boston homey and legendary former General Electric chief executive, backtracked yesterday from prior televised comments on CNBC that current GE chief, Jeffrey Immelt, had a “credibility issue” after the giant conglomerate recently surprised Wall Street with lower-than-expected profits...
GE Snags Citi Leasing Business
After disappointing shareholders with worse-than-expected first-quarter earnings, General Electric is seeking to grow out of its slump, buying a bunch of finance business lines from cash-strapped Citigroup....
The G7, the Banks and GE
This week, it’s tough to pick the most significant news. The G7 Finance Ministers Meeting was significant for what it didn’t do—something truly constructive about the credit crisis. Tired carpenters, the ministers and central bank chiefs hammered the same old nails. Their Financial Stabilities Forum report served up the same tired nostrums—extended capital requirements, transparency, closer international cooperation and the like....
GE’s Immelt to visit Erie school
General Electric Co. Chief Executive Jeffrey Immelt will visit Erie’s Harding Elementary School Tuesday morning while in town for GE’s annual shareholders meeting on Wednesday, GE officials said today.During the half-hour visit. Immelt will spend time with students to see firsthand how a $15 million grant from the GE Foundation awarded to the district in April 2007 is paying off, according to a news release from GE Transportation, the Lawrence Park Township-based division of GE...
GE says paperwork issues snag airline parts
General Electric Co. said Friday that it is working with federal aviation officials to resolve paperwork issues involving as many as 50 commercial airplane engines that are not authorized to operate at a certain setting...
GE retirees want cost-of-living pay
General Electric Co. is holding its annual shareholders' meeting Tuesday and Wednesday at the Bayfront Convention Center.My retirement group, the Retirees Association of General Electric or R.A.G.E., is pleased and interested in what GE Chairman Jeffrey Immelt has to say about the future of the business and our pensions and stock, particularly the widow's pension...
GE's green arm eyes Mideast for expansion
Dubai: Ecomagination, a green initiative of General Electric (GE), is looking to expand in the Middle East's construction and infrastructure sectors as the US firm seeks to bolster its credentials in energy-efficient and water conservation products....
Former General Electric Co. chief Jack Welch changed his tune about Jeff Immelt, his successor as GE chairman and chief executive, on Thursday, calling him "a helluva CEO" in an appearance on CNBC business television...
Welch backtracks on diss of GE chief
Jack Welch admitted yesterday he “really stepped in it” by questioning the credibility of his successor at General Electric. Welch, the Boston homey and legendary former General Electric chief executive, backtracked yesterday from prior televised comments on CNBC that current GE chief, Jeffrey Immelt, had a “credibility issue” after the giant conglomerate recently surprised Wall Street with lower-than-expected profits...
GE Snags Citi Leasing Business
After disappointing shareholders with worse-than-expected first-quarter earnings, General Electric is seeking to grow out of its slump, buying a bunch of finance business lines from cash-strapped Citigroup....
The G7, the Banks and GE
This week, it’s tough to pick the most significant news. The G7 Finance Ministers Meeting was significant for what it didn’t do—something truly constructive about the credit crisis. Tired carpenters, the ministers and central bank chiefs hammered the same old nails. Their Financial Stabilities Forum report served up the same tired nostrums—extended capital requirements, transparency, closer international cooperation and the like....
GE’s Immelt to visit Erie school
General Electric Co. Chief Executive Jeffrey Immelt will visit Erie’s Harding Elementary School Tuesday morning while in town for GE’s annual shareholders meeting on Wednesday, GE officials said today.During the half-hour visit. Immelt will spend time with students to see firsthand how a $15 million grant from the GE Foundation awarded to the district in April 2007 is paying off, according to a news release from GE Transportation, the Lawrence Park Township-based division of GE...
GE says paperwork issues snag airline parts
General Electric Co. said Friday that it is working with federal aviation officials to resolve paperwork issues involving as many as 50 commercial airplane engines that are not authorized to operate at a certain setting...
GE retirees want cost-of-living pay
General Electric Co. is holding its annual shareholders' meeting Tuesday and Wednesday at the Bayfront Convention Center.My retirement group, the Retirees Association of General Electric or R.A.G.E., is pleased and interested in what GE Chairman Jeffrey Immelt has to say about the future of the business and our pensions and stock, particularly the widow's pension...
GE's green arm eyes Mideast for expansion
Dubai: Ecomagination, a green initiative of General Electric (GE), is looking to expand in the Middle East's construction and infrastructure sectors as the US firm seeks to bolster its credentials in energy-efficient and water conservation products....
Wednesday, April 9, 2008
Recent News: Annual Meeting, GE Sensing Inspection, Short Interest in GE, GE Money, Karan Bhatia, Airline Regulators - GE Aviation, Fluorescent Bulbs
Airport prepares for arrival of GE's jets, corporate pilots
Erie International Airport officials are trying to make sure the red carpet reaches all the way to the tarmac when visitors fly in for General Electric Co.'s annual shareholders meeting this month."Our service is going to be top-notch," said Joe Ceresa, line service manager at North Coast Air, the company that sells fuel and serves private planes at Erie International....
GE offering new humidity and temperature sensor
On April 3, GE Sensing & Inspection Technologies announced ChipCap, a next-generation relative humidity and temperature sensor for the HVAC, automotive, medical and appliance industries. Overall, ChipCap can reduce the cost of humidity and temperature sensor integration by 50 percent or more. The product is fully factory calibrated, eliminating end user calibration, the costly calibration process and need for expensive calibration equipment. This can ultimately save the end user $30,000 to $50,000 in capital equipment costs and even more in calibration labor...
A short interest increase at GE, a bet against economy?
The short interest in General Electric rose sharply in the period ending March 31. The number compares to share short for March 14. GE's short interest rose 13 million shares to 57.9 million. GE's stock has been doing relatively well recently. It has moved up 3% over the past three months while the S&P has fallen over 5%. Shares in the company are still considered a "safe haven" for investors when the economy is in poor condition....
GE consumer finance unit gives up on U.S. consumer
GE Money, the consumer finance arm of U.S.- based based industrial stalwart General Electric, is pulling back from doing business in its homeland, where it sees scant growth opportunities, to further expand its global footprint. The subsidiary, founded in the 1930s to finance home appliances during the Great Depression, already operates in more than 55 countries. But with growth in the U.S. at a standstill, it has been forced to refocus on other areas to boost returns....
Karan Bhatia lands top job in GE
Former senior Bush administration official Karan Bhatia has landed a top job with General Electric. He has been named vice president and senior counsel in the conglomerate's international law and policy division...
Banco Santander to acquire GE Money’s UK motor finance and card businesses
The Spanish Banco Santander has agreed to buy GE Money’s automotive finance unit in the UK together with GE Money businesses in Germany, Finland and Austria. In turn, GE Commercial Finance will acquire Interbanca, the Italian commercial bank acquired by Santander as part of its joint acquisition of the Dutch bank ABN Amro with Fortis and RBS...
Airline Regulators Grapple With Engine-Shutdown Peril
As a Qatar Airways flight dodged thunderstorms on approach to Shanghai in 2006, it encountered a problem that, until recently, was considered virtually impossible: nearly four miles above the earth, both engines of the big Airbus A330 shut down at the same time.
The engines quickly restarted and the pilots managed a safe landing. But the incident, along with similar ones before it, set off alarm bells throughout the industry because of the cause: ice inside the engines....
FYI: GE says small fluorescent bulbs can be trashed
Fluorescent light bulbs (compact and long tube type) have become popular ways of saving money on the electric bill. How can they be disposed of safely?...
Erie International Airport officials are trying to make sure the red carpet reaches all the way to the tarmac when visitors fly in for General Electric Co.'s annual shareholders meeting this month."Our service is going to be top-notch," said Joe Ceresa, line service manager at North Coast Air, the company that sells fuel and serves private planes at Erie International....
GE offering new humidity and temperature sensor
On April 3, GE Sensing & Inspection Technologies announced ChipCap, a next-generation relative humidity and temperature sensor for the HVAC, automotive, medical and appliance industries. Overall, ChipCap can reduce the cost of humidity and temperature sensor integration by 50 percent or more. The product is fully factory calibrated, eliminating end user calibration, the costly calibration process and need for expensive calibration equipment. This can ultimately save the end user $30,000 to $50,000 in capital equipment costs and even more in calibration labor...
A short interest increase at GE, a bet against economy?
The short interest in General Electric rose sharply in the period ending March 31. The number compares to share short for March 14. GE's short interest rose 13 million shares to 57.9 million. GE's stock has been doing relatively well recently. It has moved up 3% over the past three months while the S&P has fallen over 5%. Shares in the company are still considered a "safe haven" for investors when the economy is in poor condition....
GE consumer finance unit gives up on U.S. consumer
GE Money, the consumer finance arm of U.S.- based based industrial stalwart General Electric, is pulling back from doing business in its homeland, where it sees scant growth opportunities, to further expand its global footprint. The subsidiary, founded in the 1930s to finance home appliances during the Great Depression, already operates in more than 55 countries. But with growth in the U.S. at a standstill, it has been forced to refocus on other areas to boost returns....
Karan Bhatia lands top job in GE
Former senior Bush administration official Karan Bhatia has landed a top job with General Electric. He has been named vice president and senior counsel in the conglomerate's international law and policy division...
Banco Santander to acquire GE Money’s UK motor finance and card businesses
The Spanish Banco Santander has agreed to buy GE Money’s automotive finance unit in the UK together with GE Money businesses in Germany, Finland and Austria. In turn, GE Commercial Finance will acquire Interbanca, the Italian commercial bank acquired by Santander as part of its joint acquisition of the Dutch bank ABN Amro with Fortis and RBS...
Airline Regulators Grapple With Engine-Shutdown Peril
As a Qatar Airways flight dodged thunderstorms on approach to Shanghai in 2006, it encountered a problem that, until recently, was considered virtually impossible: nearly four miles above the earth, both engines of the big Airbus A330 shut down at the same time.
The engines quickly restarted and the pilots managed a safe landing. But the incident, along with similar ones before it, set off alarm bells throughout the industry because of the cause: ice inside the engines....
FYI: GE says small fluorescent bulbs can be trashed
Fluorescent light bulbs (compact and long tube type) have become popular ways of saving money on the electric bill. How can they be disposed of safely?...
Tuesday, February 12, 2008
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....
Friday, January 18, 2008
Recent News: Earnings, GE Energy (Wind), GE Plant to Close, Options Update, GE Transportation, and Uranium (Nuclear Power)
Foolish Forecast: Will GE Change the Channel?
Friday morning brings a highly charged earnings report from General Electric. The omninational conglomerate will tell us how fiscal 2007 turned out. See why our readers called the peacock the second best stock to own in 2008 -- ahead of Buffalo Wild Wings but after Apple -- and then come back for a deeper look at the numbers and community consent....
GE Energy installs more than 2.3 gigawatts of new wind capacity in 2007
General Electric Co.'s GE Energy on Thursday said it stalled more than 2.3 gigawatts of additional wind capacity in 2007, nearly matching the total installed by the entire U.S. wind industry in 2006...
GE announces intent to close
GE announced today its intent to close the Bloomington plant by the fourth quarter of 2009...
Options Update: General Electric (GE), CBOE VIX & Washington Mutual (WM)...
GE volatility is at six-year highs into EPS and outlook. GE is expected to report Q4 EPS of $.68 on January 18th according to Thomson First Call. GE January 32.5 straddle is priced at $1.46. GE February option implied volatility of 34 is above its 26-week average of 25, suggesting larger risk...
Bloomington GE closing does not affect Appliance Park
Today, we announced our intent to close our side-by-side refrigeration production facility in Bloomington, Indiana, no later than fourth quarter 2009. The Bloomington operation loses about $45 million annually due to declining sales and product-selling prices and increased material, operation and labor costs. Despite the hard work and dedication of the union and employees, it does not make good business sense to invest or continue operations at the Bloomington facility in this environment...
GE plans to close Bloomington refrigerator plant
General Electric Co. plans to close its refrigerator plant in Bloomington, Ind., by the fourth quarter of 2009. The plant employs 837 hourly workers and 59 salaried workers, according to a news release. Last year, the operation lost about $45 million, and losses are expected to continue at the same pace, the release said...
GE Plans Partnerships With Uranium Miners for Nuclear
General Electric Co., the world's biggest maker of power-generation equipment, plans to form partnerships with uranium companies to develop its nuclear business and improve access to the fuel that runs reactors...
Erie monsters are this year’s GE favourite
If the General Electric juggernaut has been looking a little worse for wear lately, one part of the US industrial conglomerate that shows few signs of heading into the sidings is its transportation business, based in the unfashionable town of Erie, northern Pennsylvania....
Friday's Focus On GE Earnings
U.S. economy bellwether General Electric is set to be Friday's earnings focus, as the conglomerate is due to issue its fourth-quarter report prior to the market opening. Wall Street is expecting 64 cents in earnings per share, which would be a 6% increase over the similar period in 2006. Shares of Dow component GE fell 3.9% Thursday...
Friday morning brings a highly charged earnings report from General Electric. The omninational conglomerate will tell us how fiscal 2007 turned out. See why our readers called the peacock the second best stock to own in 2008 -- ahead of Buffalo Wild Wings but after Apple -- and then come back for a deeper look at the numbers and community consent....
GE Energy installs more than 2.3 gigawatts of new wind capacity in 2007
General Electric Co.'s GE Energy on Thursday said it stalled more than 2.3 gigawatts of additional wind capacity in 2007, nearly matching the total installed by the entire U.S. wind industry in 2006...
GE announces intent to close
GE announced today its intent to close the Bloomington plant by the fourth quarter of 2009...
Options Update: General Electric (GE), CBOE VIX & Washington Mutual (WM)...
GE volatility is at six-year highs into EPS and outlook. GE is expected to report Q4 EPS of $.68 on January 18th according to Thomson First Call. GE January 32.5 straddle is priced at $1.46. GE February option implied volatility of 34 is above its 26-week average of 25, suggesting larger risk...
Bloomington GE closing does not affect Appliance Park
Today, we announced our intent to close our side-by-side refrigeration production facility in Bloomington, Indiana, no later than fourth quarter 2009. The Bloomington operation loses about $45 million annually due to declining sales and product-selling prices and increased material, operation and labor costs. Despite the hard work and dedication of the union and employees, it does not make good business sense to invest or continue operations at the Bloomington facility in this environment...
GE plans to close Bloomington refrigerator plant
General Electric Co. plans to close its refrigerator plant in Bloomington, Ind., by the fourth quarter of 2009. The plant employs 837 hourly workers and 59 salaried workers, according to a news release. Last year, the operation lost about $45 million, and losses are expected to continue at the same pace, the release said...
GE Plans Partnerships With Uranium Miners for Nuclear
General Electric Co., the world's biggest maker of power-generation equipment, plans to form partnerships with uranium companies to develop its nuclear business and improve access to the fuel that runs reactors...
Erie monsters are this year’s GE favourite
If the General Electric juggernaut has been looking a little worse for wear lately, one part of the US industrial conglomerate that shows few signs of heading into the sidings is its transportation business, based in the unfashionable town of Erie, northern Pennsylvania....
Friday's Focus On GE Earnings
U.S. economy bellwether General Electric is set to be Friday's earnings focus, as the conglomerate is due to issue its fourth-quarter report prior to the market opening. Wall Street is expecting 64 cents in earnings per share, which would be a 6% increase over the similar period in 2006. Shares of Dow component GE fell 3.9% Thursday...
