GE's Latest Healthcare Partnership

Immunomedics collaborates with GE Healthcare

Biopharmaceutical company Immunomedics Inc. said Wednesday it will work with GE Healthcare to evaluate an imaging agent that could be used in identifying cancers.
Immunomedics and GE Healthcare will collaborate to evaluate Immunomedics' method of attaching peptides to an imaging agent called F-18. Terms of the agreement were not disclosed, but Immunomedics said the General Electric Co. unit will cover all costs related to the collaboration.

Recent GE Acquisition and Partnerships

G.E. and Intel Form Health Venture
General Electric and Intel said on Monday that they had formed a joint venture to create products for patients with chronic diseases and for elderly people at home or in assisted living.
The 50-50 venture is part of a collaboration begun last year, the companies said in a statement that did not elaborate on the terms. G.E. will contribute its home health unit’s assets and Intel will contribute its digital health group’s assets, the companies said.

GE acquires ECS from SNC-Lavalin
General Electric Co. bought Montreal-based SNC-Lavalin's Energy Control Systems business and its network management and control software for an undisclosed amount.ECS makes software to improve power efficiency and reliability. Its headquarters will remain in Montreal and it will keep its staff.

GE joint venture engine gets joint certification from FAA, Europe
The advanced engine developed by a GE Aviation venture for the Boeing Next Generation 737 aircraft received joint certification from U.S. and European safety agencies.

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....

Recent News: GE Energy, Jenbacher Engine, China, GE Healthcare, and Spinoff on Hold

GE Energy announces opening of new Jenbacher gas engine packaging operation in China GE Energy, a business unit of General Electric Company (NYSE:GE), announced on Thursday (16 October) that the company's Jenbacher gas engine business, a manufacturer of gas-fuelled reciprocating engines, packaged generator sets and cogeneration systems for power generation, has opened a new regional engine packaging operation at GE's manufacturing centre in Hangzhou, in Zhejiang Province in southeast China....

How GE Healthcare Transformed Its Business Technology Strategy
Up until 2004, GE Medical (the name it was known by) primarily developed and manufactured medical devices, such as X-ray machines, and computerized tomography (CT) and magnetic resonance (MR) imaging devices. In the early 2000s, GE Medical developed a strategy to move beyond being a diagnostic imaging or a diagnostic systems provider, and toward becoming a healthcare company. Specifically, the strategy looked at early health, focusing on early diagnosis, intervention, and prevention. Their $6 billion acquisition of Amersham, a UK-based company, became key to GE Medical's strategy. Amersham was a global leader in life sciences and diagnostic imaging agents, which medical scanners use to highlight specific body parts for diseases....

Economic Crisis Puts GE Spinoff on Hold
If any benefit comes from the economic crisis, Decatur's General Electric employees may be the ones to experience it. In its earnings call for the third quarter, GE Chief Executive Jeff Immelt said the sale or spinoff of the appliances division, which includes the Decatur plant, is on hold....

Recent News: Class Action Lawsuit, GE Honda, and GE Healthcare

The Rosen Law Firm Files Securities Class Action Charging General Electric Company With Violations of the Federal Securities Laws -- GE
The Rosen Law Firm today announced that it has filed a class action lawsuit on behalf of all purchasers of General Electric Company common stock and call option during the period beginning September 25, 2008 through and including October 1, 2008. To join the GE class action, go to the website at http://rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.

NBAA 2008: Tough testing for GE Honda powerplant
Work on GE Honda’s HF120 advanced 2,000lb thrust turbofan propulsion system is proceeding apace – with formal certification testing still on target to begin at the turn of the year. This year has been all about design validation, according to GE Honda’s president Bill Dwyer, who says the new engine will give great customer value in terms of “price point, weight, fuel efficiency and maintenance costs”....

Curing What Ails GE's Health Unit
GE Healthcare sells machines that discover why people are sick. The General Electric Co. unit's new chief executive, John Dineen, now must cure what ails the business. The division has been plagued by factory-production glitches that led to a federally ordered plant shutdown, an aborted acquisition and shrinking insurance payments that crimp demand for GE's products. The unit's operating profit fell 4% in the first half of 2008, after declining 3% last year. This summer the division laid off hundreds of workers...

Recent News: Toasters Recalled, Agility Healthcare Purchase, Stock Buyback Program, and GE Oil and Gas Pipeline

General Electric toasters recalled
The U.S. Consumer Product Safety Commission announced a voluntary recall of General Electric toasters due to a shock and fire hazard. Importer Wal-Mart Stores Inc. of Bentonville, Ark., has received 140 reports of short circuits in the toasters causing sparks or fires, the commission said in a statement.

General Electric buys health care tech company
General Electric Co.'s GE Healthcare unit said Tuesday it bought privately-held Agility Healthcare Solutions in move to expand its software offerings which help hospitals coordinate patient care...

Here, There and Everywhere
Also last week, General Electric – a key company for U.S. employment and stock portfolios – shocked markets when it suspended a stock buyback program and indicated it may not boost its dividend in 2009 for the first time since 1976...

GE Oil & Gas' PII Pipeline Solutions Expands Staff and Engineering Services in Calgary for Canadian Operators
GE Oil & Gas has expanded its PII Pipeline Solutions technical staff and engineering analysis services in Calgary on behalf of Canadian pipeline operators. GE increased its pipeline data analysis department by 17 people in 2008 and its integrity engineering department to nine, full-time desk engineers, including a data software engineer to enable the newly enhanced levels of pipeline support services for its Canadian customers....

GE Healthcare Acquires Agility Healthcare Solutions, Broadening Capabilities to Help Hospitals Improve Their Performance
GE Healthcare, a unit of General Electric Company announced today that it has acquired the privately held Agility Healthcare Solutions of Glen Allen, Virginia. Financial terms were not disclosed. Agility Healthcare Solutions provides unique and innovative products that transform hospital workflow and patient care management...

Recent News: GE Healthcare, Jack Welch, Defense Department Contract, Outlook, Jeff Immelt, Jeff Zucker, NBC Universal. Iraq Power, Global Growth

GE enters home health care monitoring market
GE Healthcare, a business of General Electric Co., is entering a potential $5 billion international market providing health monitors for the elderly who live alone. GE Healthcare announced Wednesday an agreement with privately held Living Independently Group Inc., a provider of a wireless monitoring system to distribute monitors to seniors and develop new applications....

Former GE Boss Jack Welch Predicts Deep Economic Downturn
Former General Electric Co. chairman and chief executive Jack Welch said Wednesday that the U.S. was in for "one hell of a deep downturn." He urged swift and decisive action to confront the current financial crisis, expressing support for the $700-billion financial relief package proposed by the Bush administration....

GE gets $15M engine contract by Defense Department
The Defense Department has awarded a $15 million contract to a division of General Electric Co. for work on aircraft engine parts....

General Electric revises 3Q, full-year outlook
General Electric has lowered its outlook for third-quarter and full-year earnings, citing unprecedented weakness and volatility in the financial services markets. The company also has reaffirmed its commitment to maintaining a 'AAA' credit rating, and is taking steps to bolster its capital and liquidity position....

Immelt: Things Will Turn Around
After dropping more than 4% in early trading, GE shares were up nearly 4% at midday, after General Electric CEO Jeff Immelt said the credit storm has been rough on the company but won't sink it. Immelt emphasized during a (General Electric-owned) CNBC appearance that his company is "not in the credit default swap business," helping to alleviate fears--for now--that the company's problems with its GE Capital unit will plague it for the long haul...

Jeff Zucker says GE committed to NBC Uni
NBC Universal president and CEO Jeff Zucker reiterated the strength of parent GE's commitment to the media company Friday, calling it "profound" despite the recent financial turmoil and the profit warning issued Thursday by GE."I think it's looking at it backwards," he said, when asked whether GE was under renewed pressure to sell NBC because of the tightening of liquidity in financial markets....

Generally Weaker GE
GENERAL ELECTRIC PREANNOUNCED third-quarter earnings per share Thursday with a new range of 43 cents-48 cents down from prior guidance of 50 cents-54 cents. The company also lowered fiscal 2008 EPS guidance to $1.95-$2.10 from $2.20-$2.30....

Iraq signs bln-dollar power deals with GE, Siemens
Iraq has signed preliminary deals worth billions of dollars with General Electric Co and Siemens for equipment to almost double electricity generation capacity, an energy official said on Saturday....

GE gets cautious
When Jack Welch said his protégé, Jeff Immelt, was "getting his ass kicked" following a profit warning this year, the General Electric boss could console himself by pointing to a steady rise in cash returns to shareholders through dividends and buybacks. Yesterday's warning, accompanied by the suspension of buybacks and the first dividend freeze in 32 years, leaves Mr Immelt under more pressure than at any time since he took the reins in 2001....

GE: Betting on a Global Growth Story
Buying GE (GE)...safe 5% yield and 10 times earnings....picked up some for $24.77 a share Friday morning. I first became really interested in GE when shares hit $23 and change but did not pull the trigger. On Thursday, GE lowered guidance for the quarter and the year. Not a real surprise given conditions out there but two questions I had were answered. Was the dividend safe, and was its 'AAA' rating safe? The answer to both was yes....

Recent News: Blackstone, Appliances, Rail Cars, Olympics, Lobbying, GE Healthcare, Jeff Immelt: '...cable deals'

Blackstone joins China's Haier in bid for GE's appliances unit
The investment firm Blackstone is joining forces with one of China's largest consumer goods-makers in the $7bn auction of General Electric's appliances unit. Blackstone is drawing up plans to invest with Qingdao Haier, China's biggest white goods-maker, and hopes to build a global enterprise to compete with rivals such as Maytag and Electrolux...

General Electric may dump its rail car division
General Electric Co. may be close to selling its rail car leading division to GATX Corp. According to Bloomberg, GATX plans to "invest more aggressively" during a financial slowdown...

NBC sees new media habits form with Olympic games
About half of the people who are using mobile phones to pull down video or information about the Olympics have been trying out that technology for the first time, NBC said on Wednesday.
NBC Universal, a unit of General Electric Co., has been using the Olympics as something of a research lab to track the adoption of new media technology. Since the opening ceremony last Friday, the company has made content available online, through video on demand and via cell phones along with traditional TV...

General Electric spent nearly $5.4M lobbying in 2Q
General Electric Co. spent nearly $5.4 million in the second quarter lobbying on everything from patent reform to the fiscal 2009 defense spending bill, according to a disclosure report....

For Olympic Marketers, Emotions Pay
For many Olympic swimmers in Beijing, Speedo LZRs have helped produce record times. For winning advertisers during the Games, the key ingredient is proving to be emotional ads...

Huge Olympic Success To Add One Penny To GE's (GE) Bottom Line
The Olympics were far from a sure thing for NBC Universal. American interest in the games had been waning for years, and the prospect of a Chinese crackdown on protestors made many network bigwigs nervous...

U.S. FDA warns GE Healthcare unit over records
The U.S. Food and Drug Administration has warned GE Healthcare's Integrated IT Solutions unit about a dozen manufacturing violations including improper record keeping that could result in further action from the agency....

Immelt: GE ‘Not Done Doing Cable Deals’
General Electric chairman and CEO Jeff Immelt said that on the heels of NBC Universal’s acquisition of The Weather Channel, there may be more cable deals on the horizon. And he told CNBC’s Carl Quintanilla Monday morning that he is satisfied with the strategy of partnership arrangements such as the one formed for the TWC purchase.

Recent News: GE Money Canadian Mortgage, GE Energy UAE Wind, UAE Smelter, Reorganization, Clean Coal, NBC Universal, and GE Healthcare

GE Money gets out of Canadian mortgage business
A finance subsidiary of General Electric Co plans to wind up its Canadian alternative mortgage business this week as part of a wider corporate shift away from consumer finance, according to a note sent to brokers. GE Money said that as of the close of business Thursday, it will no longer accept new Canadian mortgage applications but will continue to fund existing commitments...

GE Receives $500 Million Contract to Supply Power Equipment for World's Largest Single-Site Aluminum Complex
GE Energy has received a contract of more than US$500 million to supply equipment to power the world's largest aluminum processing complex at a single site. The Emirates Aluminum (EMAL) production facility is located close to the Arabian Gulf near Al Taweelah, Abu Dhabi, in the United Arab Emirates (UAE). Using natural gas as its primary fuel, the power plant will feature Frame 9FA gas turbines, C7 steam turbines, heat recovery steam generators and condensers, all provided by GE Energy...

General Electric wins $500 mln UAE smelter deal
U.S. conglomerate General Electric said on Wednesday its energy unit had won a contract worth more than $500 million to supply equipment to power an aluminium smelter in Abu Dhabi. Emirates Aluminium is building a $5 billion smelter with target output capacity of 1.4 million tonnes of aluminium per year, which will make it one of the largest in the world...

GE executive: Reorg will simplify conglomerate
General Electric Co.'s recently announced reorganization will help simplify operations and give investors a clearer view of the company, a top executive told members of Congress on Monday.
John Rice, vice chairman of the Fairfield-based GE and president of the newly formed GE Technology Infrastructure unit, said cutting GE to four businesses from six is a logical move....

GE close to $3bn clean-coal deal to bury carbon
US conglomerate GE says it could sign a deal within months to build a $US3 billion ($3.13 billion) "clean coal" power plant in NSW or Queensland that would store carbon dioxide underground.
But any plant agreement would probably rely on government help with the cost of storing the greenhouse gases, depending on the final outcome of the federal Government's planned emissions trading scheme. GE, which intends to turn coal into gas and then strip out and bury the carbon dioxide, is in talks with utilities in both states and would like to see an agreement for a commercial plant "within the next six months", GE global clean coal power business head Keith White said in Melbourne yesterday...

Abu Dhabi Investor to Pressure GE's NBC Universal
The conventional wisdom in American business is this: find a sovereign fund investor to lift investors' confidence by boosting the price and demand for shares. Facing its toughest uphill battle in decades, even blue-chip king General Electric has resorted to that strategy, creating an $8 billion global partnership with Abu Dhabi-based Mubadala Development Co., which is in the process of buying enough discounted GE shares on the open market to become one of the conglomerate's top 10 institutional investors....

GE Healthcare in definitive agreement to acquire Vital Signs
GE Healthcare, a provider of medical technologies and services for patient care and a business unit of General Electric Company (NYSE:GE), and Vital Signs Inc (Nasdaq:VITL), a global provider of medical products applicable to a wide range of care areas, announced on Thursday (24 July) that the companies have entered into a definitive merger agreement under which GE will acquire Vital Signs...

Recent News: Volatility, Stock Performance, GE Healthcare, Hybrid Vehicles, and Weather Channel

Volatility the new reality for GE shares
Investors can expect more volatility in the stock of once rock-solid General Electric Co., at least until the company reassures Wall Street with a few solid earnings reports. Shares of the second-largest U.S. company by market capitalization fell for a second straight day on Friday -- hitting their lowest point since late 2003 -- after speculation about coming write-offs at its financial arm spooked investors....

GE, Near 5-Year Low, Says Outside Capital Not Needed
General Electric Co., whose shares neared a five-year low today partly on concern it may need to pump cash into its finance units, repeated that no outside infusion is needed to keep its AAA credit rating....

GE Healthcare to manage its operations from Turkey
GE Healthcare, General Electric's (GE) healthcare services branch worth $17 billion, will start managing its operations in the Eastern and Asian markets (EAGM), from Turkey. GE Healthcare decided to combine the EAGM region into a single "International Diagnostic Imaging" operation, and conduct its activities from Istanbul, officials from GE Healthcare and Turkey's Investment Support and Promotion Agency said at a joint press conference on Friday....

Feds Scrape Together $30M for Plug-In Hybrids. That's All?
The Bush Administration has shown its support for plug-in hybrids by promising a measly $30 million to get them on the road within eight years, a figure and a timeline some automakers and plug-in advocates say is too little and too long. Getting these cars on the road quickly, they say, should be a national priority with the funding to match....

NBC Nears a Deal for Weather Channel
A group of investors led by NBC Universal and the Blackstone Group is near a deal to buy The Weather Channel for more than $3 billion, people briefed on the negotiations said....

Weather Channel may be GE's prize as Time Warner balks
Everybody talks about the weather. Time Warner has decided not to do anything about it.
The media giant today withdrew its bid for the Weather Channel, leaving only General Electric Co.'s NBC Universal unit and its partners as potential buyers for one of the most widely available cable channels in the U.S....

GE teams with Chrysler on plug-in hybrid system
General Electric is interested in supplying components for plug-in hybrid vehicles and is teaming with Chrysler on a project to demonstrate a technology GE calls a dual-battery energy storage system.Vlatko Vlatkovic, a GE official, told Automotive News on Thursday that the company has developed a hybrid railroad locomotive--which he compared to a "6,000-horsepower Prius on rails"--and is working on a heavy-duty, off-highway hybrid truck....

Recent News: GE Wind Energy in Spain, GE Healthcare, GE Transportation, GE Energy Financial Services, GE Money, Rail, and GE Aviation.

Spain's Renovables buys GE wind turbines
Spanish renewable energy company Iberdrola Renovables said on Friday it had ordered 200 1.5 megawatt wind turbines from General Electric Co., worth around 430 million euros ($659 million)....

GE possibly wellspring of state's innovation
Southeastern Wisconsin has a much better shot at pulling talent out of the wealth of resources at GE Healthcare than technology, a panel of current and former GE executives said Thursday at a meeting of the Wisconsin Innovation Network in Brookfield....

GE opens 8-acre trailer re-sale center in Fontana
Freight movement from Pacific ports to inland distribution centers requires thousands of “mobile warehouse” over-the-road trailers, and a new GE re-sale center opening in Fontana helps truckers obtain pre-owned trailers at reasonable prices...

Town Learns G.E. Will Continue With Plans for Towantic Energy
G.E. Energy Financial Services of Stamford last week notified the town that it intends to go forward with the Towantic Energy project on Woodruff Hill Road, First Selectman Mary Ann Drayton-Rogers confirmed....

GE Money finds few takers for its loan portfolio
GE Money India is learnt to have found no takers for its wholly-owned personal loans and mortgages portfolios, with the interested parties quoting nearly half of the company’s expectation. The bidders say this could eventually lead to the proposed divestment plan being scrapped...

GE close to $263 mln Bosnia rail deal
Bosnia, May 9 (Reuters) - Bosnia's Serb Republic government said on Friday it is close to clinching a 170 million euro ($263 mln) deal with U.S. conglomerate General Electric to help it rebuild its devastated rail network....

GE Aviation expects its CF34 engine fleet to double in 10 years
With more than 4,000 CF34 engines powering regional aircraft, GE Aviation expects the engine fleet to exceed 8,600 by 2018 - based on the strong demand being forecast for GE-powered regional aircraft...

Recent News: GE Healthcare, GE Energy, NBC, Lawsuit, Layoffs, GE Aviation, and Stock Performance

GE Healthcare Signs Global Molecular Diagnostic Agreement To Advance Respiratory Drug Development
GE Healthcare, a subsidiary of the General Electric Company (NYSE:GE) announced that it has signed a non-exclusive agreement with Merck & Co., Inc. to share technology on imaging of the lungs that may help to advance respiratory treatment development. Under terms of the agreement, Merck will be granted access to Spin Signal TechnologyTM (SST) utilizing hyperpolarized Xenon 129 gas, a molecular imaging agent that is under investigation by GE Healthcare to provide high speed, quantitative imaging of the lung using Magnetic Resonance Imaging (MRI). GE Healthcare originally licensed this technology from Princeton University....

GE Installs Its Newest Steam Turbine Technology for North Dakota Power Plant
GE Energy has applied its latest steam turbine technology to enhance the reliability and overall performance of North Dakota’s largest power plant, Great River Energy’s Coal Creek Station, located 50 miles north of Bismarck...

NBC to Enter All-Local-News Arena In New York
General Electric Co.'s NBC Universal is starting a 24-hour local news network in New York, in what could be the first of several such channels around the country. NBC hopes the network will draw in new viewers and help the company weather a weak local TV advertising market that has depressed revenue at many of its individual stations....

GE Consumer & Industrial to cut 450 salaried positions
GE Consumer & Industrial, the Louisville-based division of General Electric Co., informed employees Tuesday that the company is eliminating about 450 salaried positions, less than1 percent of the unit's nationwide workforce...

Lawsuit against GE will continue
Warren County Judge John Hall has denied General Electric Co.'s request to dismiss a lawsuit filed by 45 Fort Edward property owners whose homes and businesses were contaminated with an underground plume of an industrial chemical used by the company. Residents in the area blame the company for dumping trichloroethylene, or TCE, an industrial solvent GE used at its Broadway manufacturing plant....

GE sees new technology for next-generation CF34 viable in 2015
General Electric believes a new centreline successor to the next-generation CF34 engine for regional jets could be ready in the 2015 timeframe by leveraging technology from CFM International's Leap 56 programme and the GEnx....

GE stock may not be electric, but it should be OK
Q: I've owned General Electric stock for nearly 10 years and have been disappointed with its performance. What is wrong with it?
A: It's easy for investors to beat up on General Electric...

Recent News: GE Rail Services Unit, NBC Super Bowl Ads, Consumer Loans, GE Healthcare & Merck, GE Aviation, GE Japan, and Boeing 737-900

GE seeking buyer for its rail services unit: report
General Electric is seeking a buyer for its rail services unit, in a deal that could be worth about $4 billion, according to people familiar with the company, The Financial Times reported on its Web site Friday. The move to sell the unit is part of GE's attempts to reduce its exposure to low-margin businesses after reporting disappointing first-quarter results last month, according to the newspaper. The unit leases 165,000 railroad cars and 120,000 trailers and containers. GE declined to comment on Friday night, the FT said...

NBC Super Bowl Ads to Cost $3 Million
The Super Bowl has always been a tough ticket, but now NBC is telling advertisers it will cost them $3 million just to get into the game -- for 30 seconds. NBC Universal, a unit of General Electric Co., plans to announce next week that $3 million will be the entry price for a commercial at the 2009 Super Bowl. While individual slots have sold at that level before, it's never been the starting point for negotiations for the dozens of 30-second ads sold for the game. It represents a price increase of more than 10%, roughly double the usual annual rise...

GE to drop consumer loans for boats, motorhomes
General Electric Co said on Monday it would stop offering loans for the purchase of consumer boats and motorhomes, in another blow to the hard-hit recreational products sector.
The second-largest U.S. company by market capitalization told boat and recreational-vehicle dealers that it would cease taking applications by July and cease underwriting new loans on Aug. 1, said Cristy Williams, a spokeswoman for GE Money, the company's consumer finance arm. It will continue to service its $3.6 billion loan portfolio...

GE Healthcare and Merck enter into technology sharing agreement
GE Healthcare, a provider of transformational medical technologies and services and a subsidiary of the General Electric Company (NYSE:GE), announced on Monday (5 May) that the company has entered into a non-exclusive agreement with Merck & Co Inc, a pharmaceutical company, to share technology on imaging of the lungs....

GE officials hope to work with Raspet
Officials with GE Aviation hope to continue the relationship they've developed with Mississippi State University's Raspet Flight Research Lab, an official said Monday...

Acom in Lead to Buy GE Japan Consumer Lender
General Electric will likely pick rival lender Acom as preferred bidder for its Japanese consumer loan business, paving the way for a $2.9 billion deal to create the country's biggest industry player, the Yomiuri paper said, sending Acom's shares to eight-month highs...

Boeing Delivers 737-900ERs To GE Unit For Lease To Futura
Boeing Co. (BA) said it delivered Europe's first two next-generation 737-900ER aircraft to General Electric Co. (GE) unit GE Commercial Aviation Services for lease to Futura International Airways of Spain....

Recent News: GE Healthcare, Q&A w/ John Wyllie, GE Aviation Navy Contract, and GE Real Estate in Germany

GE restarts X-ray machine factory with U.S. OK
General Electric Co. has resumed production of X-ray machines at a Salt Lake City, Utah, facility shut since late 2006 because of quality-control issues raised by U.S. regulators. GE Healthcare on Thursday received approval from the Food and Drug Administration to restart the plant, and full production has resumed, GE officials said on Friday....

Q&A: GE Money’s John Wyllie on Web Analytics
John Wyllie is the global web analytics manager at GE Money – a role in which he advises and directs the analytics activities of the company’s numerous international businesses.
We asked him a few questions about how analytics can best be managed within organisations, and how the financial services industry stacks up against other sectors...

GE Aviation awarded $321.7M Navy contract for engines
General Electric Aviation, a unit of General Electric Co., received a $321.7 million contract boost to supply 84 F414-GE-400 engines and device kits and related equipment for the Navy's F/A-18 Hornet fighter jets and its EA-18G Growler attack aircraft, the Defense Department said late Friday...

GE's Surgery Unit Is Set To Restart After Miscues
General Electric Co.'s GE Surgery unit will be back in action within days, marking the end of a 20-month shutdown that stemmed from the Food and Drug Administration's finding that device malfunctions weren't being reported. GE Surgery operates a factory in Salt Lake City that makes C-shaped X-ray devices that allow doctors to see what is happening inside a patient during surgery. The one factory accounted for about 90% of the unit's business, which has annual sales of about $600 million....

GE Real Estate seeks buys in German market: report
GE Real Estate, the property investment arm of General Electric Co has earmarked around 1.5 billion euros to invest in the German property loan market, a German daily reported on Saturday....

Recent News: Ohio Lamp Plant, Citi Rating, GE Aviation, GE Healthcare & Whatman, GE Hitachi, New Chief Accounting Officer, and Sofradir

General Electric to eliminate 31 positions at Ohio Lamp Plant
General Electric continues to slash jobs in the Mahoning Valley as it eliminates 31 positions at its Ohio Lamp Plant. The Warren plant makes a variety of incandescent bulbs, which are becoming less popular....

Citi Maintains 'Hold' Rating on General Electric (GE), Lowers Price Target
Citi maintains a 'Hold' rating on General Electric, lowers price target from $36 to $35.Citi analyst says, "GE's Sum-of-the-Parts premium has contracted, but it still trades above par using P/E's of some of the highest valued financial peers. Finance book value approaches point to more downside valuation risk...GE has increasingly relied on gains to drive EPS growth or offset headwinds that have materialized from time to time....

Singapore Airlines plane reports engine trouble, lands safely in India
A Singapore Airlines flight to Paris was diverted to India because one of its two engines appeared to be in trouble, Singapore's national carrier said Monday. A failure warning prompted the pilot to shut down the left engine of the Boeing 767-300ER and redirect the flight to New Delhi's Indira Gandhi International Airport on Friday, Singapore Airlines said in a statement e-mailed to The Associated Press...

GE Healthcare Completes Acquisition of Whatman PLC
Chalfont St. Giles, UK. - GE Healthcare, a unit of General Electric Company (NYSE:GE) has completed the acquisition of Whatman PLC, a global supplier of filtration products and technologies...

GE Hitachi Nuclear to build uranium enrichment facility
Global Laser Enrichment (GLE), a unit of GE Hitachi Nuclear Energy (GEH), said it has selected GEH's Wilmington headquarters site for a potential commercial uranium enrichment facility.
Before moving ahead, GLE will first look at the results of a demonstration test loop, which is currently under construction, and obtain an NRC license to build and operate the commercial plant. Pending approvals, the facility is expected to come online in 2012...

GE says gets $350 mln Dubai order for jet engines
General Electric Co said on Wednesday that LCAL, a Dubai-based aircraft leasing company, has agreed to buy GEnx jet engines to power up to 13 of its aircraft. The engines, with a list price of more than $350 million collectively, would power Boeing Co made 787 aircraft, GE Aviation said....

GE names Miller as chief accounting officer
General Electric Co on Wednesday named Jamie Miller as chief accounting officer, succeeding Walter Ielusic, who had held the post on an acting basis....

GE Buys Stake in French Infrared Unit
General Electric, the U.S. industrial conglomerate, has bought for an undisclosed amount a 15 percent stake in Ulis, a subsidiary of Sofradir, a French maker of infrared detectors.
Ulis makes uncooled IR detectors mainly for commercial uses, said Sofradir in an April 30 statement....

Recent News: New GE Commercial, GE Healthcare, Diversification, and Olympics

GE's 'Love Story' enchants
More than anything else, spring -- if it ever does arrive in Chicago -- cries out for a winning love story. Right on cue, General Electric and its ad agency BBDO/New York have delivered a memorable one in a new commercial that charms in so many ways. "Love Story," as it's simply titled, delights, first and foremost, because it does indeed have a story to tell. And as we've oft stated, memorable advertising happens when good stories are well told....

IMV Cheers GE Cardiology Service, Proactive Monitoring
GE Healthcare has taken many steps to bolster its service offerings and, as a result, currently stands as the top rated vendor in Overall OEM Service Performance for X-Ray Cardiology & Angiography service, according to IMV ServiceTrak, a leading independent third-party research firm. GE Cardiovascular Service was top ranked in 12 additional X-Ray Cardiology categories including OEM Service Follow-up, Timeliness of Arrival On-Site and shared the #1 ranking for Service Performance Related to Charge...

GE is diversified, but it doesn't diversify your stocks
Q: Does General Electric stock add any benefit to a portfolio that already contains a collection of large U.S. stocks? A: If you've been investing for a while, you've probably seen firsthand how diversification can be a big benefit.

U.S. Olympic Committee and GE Announce Research Partnership to Measure Benefits of Advanced Ultrasound Technology on U.S. Olympic Athletes and Hopefuls for Beijing 2008 Olympic Games
In preparation for the Beijing 2008 Olympic Games, the U.S. Olympic Committee and the General Electric Company (NYSE:GE), a Worldwide Partner of the Olympic Games, announced today two research programs aimed at demonstrating that health monitoring and early intervention leads to injury prevention and enhanced health and sports performances for athletes....

Recent News: GE Healthcare and the Olympics

Sponsor Spotlight: Coke, GE Respond to Olympic Protests
The activists of Dream for Darfur are putting rhetoric above action, writes Coke VP Tom Mattia in an editorial in Advertising Age magazine. The public affairs and communications executive says Coke had worked to address suffering in Darfur for nearly a year before Dream for Darfur's campaign began in June 2007. The company continues to support delivery of supplies and health care and efforts to end the fighting, Mattia writes. Coke has made investments "to address the conflict's water issues" to the tune of $5 million, he adds...

GE, US Olympic Committee Announce Research Programs On US Athletes
The U.S. Olympic Committee, or USOC, and General Electric Co. unveiled two research programs to demonstrate that health monitoring and early intervention leads to injury prevention, better health and performances by athletes. The partners also noted that the studies are continuations from research programs at the Torino 2006 Olympic Winter Games. ...

Recent News: GE to buy Boeing Aircraft, China, GE Healthcare, GE Real Estate, and Locomotives in Serbia

GE in talks for 40 to 50 Boeing planes: Bloomberg
General Electric Co, the world's No. 1 aircraft lessor, is in talks with Boeing Co to buy 40 to 50 of its 737 jetliners to meet demand from airlines upgrading their fleets, Bloomberg said on Monday, citing a person familiar with the negotiations....

GE Unit May Buy at Least 40 Boeing 737s, Person Says
General Electric Co., the world's biggest aircraft lessor, is in talks with Boeing Co. to buy 40 to 50 of its 737 jetliners to meet demand from airlines upgrading their fleets, a person familiar with the negotiations said...

Group says GE supplier in China subjects workers to toxins
A new report says a Chinese factory that makes light bulbs for General Electric Co. subjects many of its employees to 64-hour work weeks and toxic mercury used in the production process...

GE Real Estate Buys 206,000-SF Office Bldg. in Houston
GE Real Estate purchased Oak Park Office Center II, a 206,362-square-foot Class A office building in Houston, TX, from Realty Associates Oak Park II LP, a development venture between TA Associates Realty and Myers, Crow & Saviers Ltd. for an undisclosed amount. Harris County Appraisal District values the property at about $16 million, or about $77.50 per square foot...

GE Healthcare Completes Acquisition of VersaMed Corporation
GE Healthcare, a unit of General Electric Company, has completed the acquisition of VersaMed Corporation, a provider of portable critical care ventilators for respiratory care...

Serbia: GE might participate in modernisation of Serbian railways
Director of the Serbian railways Zeleznice Srbije Milanko Sarancic and head of General Electric (GE) in South East Europe Giuseppe Recchi talked today in Belgrade about the possibility of GE taking part in the electrification of the Nis-Dimitrovgrad line....

Recent News: GE Energy Wind Farm, NBE & GE Healthcare, GE Water, Bloomington Plant, Defensive Play and Trading Sideways

GE Energy invests in two new wind farms
Greenbang remembers a bygone era when wind was just good for kite flying, drying clothes and sailing. Pah, stupid wind. What good was it to humanity then? Selfish, Greenbang reckons....

NBC and GE Healthcare team up on vision for patient engagement
A partnership between GE Healthcare and NBC Universal is part of GE's vision to get patients more engaged in their healthcare through a combination of IT and online content....

How GE Water streamlined its events
In 2006, General Electric Water and Process Technologies, a division of GE that supplies water treatment, wastewater treatment and process systems solutions, was a conglomeration of several different companies it had acquired over the years. Each of those companies brought some baggage with them....

Workers to take over GE plant in Bloomington?
Rather than seeing the General Electric Co. refrigerator plant in Bloomington close, the Monroe County Economic Development Commission plans to study whether it would make sense for the employees to buy and operate the site....

General Electric (GE) -- a good, defensive play
General Electric Co. shares gained 4.3% by 1 p.m. following an upgrade from Merrill Lynch to Buy from Neutral. Analyst John G. Inch said GE seems to be a good defensive play in today's climate and that its range of businesses and large global exposure (more than half its revenue comes from outside the U.S) will help it weather a U.S. recession...

In down market, sideways GE shares look good: investors
For most of the past three years, investors looking at General Electric Co., have had a common complaint -- the shares were "trading sideways," showing little movement of any kind. ...

Recent News: GE Aviation Biofuels, Corinne A. Johnson, GE Healthcare, Texas Wind Farm, Locomotive Pollution Standards, Connect with Immelt and more...

Continental, Boeing and GE plans for Sustainable Biofuels Flight
Continental Airlines , Boeing and GE Aviation have announced plans to conduct a biofuels demonstration flight in the first half of 2009 in an effort to identify sustainable fuel solutions for the aviation industry. Continental is the first major U.S. carrier to announce plans to highlight technological advancements in sustainable biofuels that can help to further reduce carbon emissions...

Corinne Johnson, 49, first woman to lead GE's Lynn plant
Corinne A. Johnson, the first female general manager at General Electric Co.'s aircraft engine plant in Lynn, walked the shop floor to meet workers. At GE Aviation, based in Cincinnati, she lobbied for the plant to build more engines for fighter jets, attack helicopters, and Marine One, the presidential chopper...

GE Healthcare Says It Continues Market Leadership Position In Compact Ultrasound Industry In 2007 - Quick Facts
GE Healthcare, a division of General Electric Co., announced, citing a recent industry report issued by Klein Biomedical Consultants, that its global compact ultrasound business revenues were $260 million in 2007, 50% higher than last year. This surpasses the 42% worldwide industry market growth for compact ultrasound in 2007...

GE to unveil plans for West Texas wind farm
General Electric Co. will announce today its 10th investment in a Texas wind farm. This one is in the West Texas town of McAdoo, and it comes with a crucial construction deadline...

GE embraces tougher locomotive pollution standards
Environmentalists and Erie-based GE Transportation are applauding new pollution-cutting regulations announced Friday by the Environmental Protection Agency.The EPA will require locomotives and U.S.-flag ships and passenger ferries to cut soot by 90 percent and smog-causing chemical releases by 80 percent...

GE Healthcare continues to grow ultrasound business
GE Healthcare continued as the global market share leader in the compact ultrasound industry in 2007, as cited in a recent industry report issued by Klein Biomedical Consultants.GE announced today that the company's global compact ultrasound business grew revenues to $260 million in 2007, growing 50 percent compared from the prior year....

GE Puts CEO Online to Connect with Shareholders
We’ve blogged several times about the efforts of some companies to establish two-way dialogs with their customers through initiatives such as online forums — and their mixed results. Continental Airlines, for instance, has won kudos from its customers for its policy of employing a dedicated person to monitor online chat forums and even to visit some customers in person at feedback events around the country. Dell, on the other hand, has been less successful with its Ideastorm site and its own interactions with sites such as the Consumerist.com.
One of the most intriguing attempts yet at engaging folks online — specifically shareholders — was a recent live Webcast with General Electric CEO Jeffrey Immelt.

Florida opts for GE Security
GE Security has announced the State of Florida has deployed GE’s Identity Commander security platform to its 12 deepwater seaports as well as its Dept. of Highway Safety & Motor Vehicles headquarters in Tallahassee....

Economic slowdown causing G.E. layoffs
G.E. is acknowledging that the tough economy is hitting its appliance business harder than was expected. Layoffs are coming to the executive ranks at the Louisville headquarters and across the U.S. The number of cutbacks is not yet known...

Equity in brands
Value-stock fund manager sees bargains in Honda, GE, Best Buy
One anomaly of the stormy U.S. stock market is how quality is being priced at a discount. Shares of many big, brand-name companies with strong cash positions and dominant, global market share are trading at below-normal valuations....

Now, GE Seeks Others' Money
General Electric Co., which has long been one of the country's largest real-estate investors with its own money, is planning to begin investing money belonging to others....