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....
Showing posts with label GE Real Estate. Show all posts
Showing posts with label GE Real Estate. Show all posts
Monday, May 12, 2008
Recent News: GE Healthcare, Q&A w/ John Wyllie, GE Aviation Navy Contract, and GE Real Estate in Germany
Wednesday, April 23, 2008
Recent News: Immelt and Shareholders, Cost-Cutting, GE Real Estate, and GE Energy Financial Services
Immelt: GE will cut another $1 billion in 'difficult times'
Less than two weeks after General Electric shocked investors by reporting a 6% loss in first-quarter profits, CEO Jeff Immelt said Wednesday that he sees "even more difficult times ahead" for the economy. But at the company's annual shareholder meeting here he said U.S. capital markets have improved since the end of the first quarter...
GE hikes cost-cutting goal to $3 billion
General Electric Co chief Jeffrey Immelt said on Wednesday U.S. capital markets have improved since the end of the first quarter but the overall U.S. economic picture is unchanged, and the company has raised its 2008 cost-cutting goal by $1 billion...
Immelt works to reassure shareholders at GE's annual meeting
General Electric Co.'s annual meetings are typically upbeat affairs as executives showcase the company's successes to satisfied shareholders of one of the world's most diversified and successful companies. But after GE chief executive Jeff Immelt was lambasted earlier this month for failing to hit first-quarter goals and triggering a selloff that wiped out more than $46 billion of GE's market capitalization, Wednesday's annual meeting was essentially a mea culpa to investors and analysts alike...
GE Buys $2.5B Loan Book From Capmark Europe
With capital markets worldwide reaching for firmer footing, GE Real Estate has struck its second Pan-European mega-deal in five months for a commercial property loan book. The £1.22-billion [$2.51 billion USD] acquisition of senior and whole loans is secured by 39 performing retail and office properties, predominately in Germany...
Immelt Targets More Cuts at GE Annual Meeting (GE)
Jeff Immelt will get to explain the recent General Electric Co. (NYSE: GE) earnings SNAFU all over again today. Frankly, all we really care about at 247WallSt.com is what lies ahead rather than rehashing what we already saw. We probably won't be hanging on for every single comment this morning, but there was at least some addressing of the current climate and some remedies it seeks. For starters, the company is now targeting for $3 Billion in cost cuts rather than $2 Billion. The company also said it will more frequently review its entire portfolio, which translates to the possibilities that the company can have more spin-offs or divestitures down the road...
No credit crunch in energy, GE unit says
After investing $104 million for the acquisition of oil and natural gas reserves in the Gulf Coast, officials from GE's Energy Financial Services unit in Stamford said they're still looking to do business. With fewer financing options available because of the ever-tightening credit markets, John Schaeffer, managing director and head of the oil and gas unit at the GE division thinks his company is one of the most reliable partners for oil and gas companies in the high-demand energy sector. "There are fewer financing options out there since the subprime crisis," Schaeffer said. "The prices paid for assets have come back to a more rational level. We're now more competitive than we were when there was more inexpensive money out there."...
Less than two weeks after General Electric shocked investors by reporting a 6% loss in first-quarter profits, CEO Jeff Immelt said Wednesday that he sees "even more difficult times ahead" for the economy. But at the company's annual shareholder meeting here he said U.S. capital markets have improved since the end of the first quarter...
GE hikes cost-cutting goal to $3 billion
General Electric Co chief Jeffrey Immelt said on Wednesday U.S. capital markets have improved since the end of the first quarter but the overall U.S. economic picture is unchanged, and the company has raised its 2008 cost-cutting goal by $1 billion...
Immelt works to reassure shareholders at GE's annual meeting
General Electric Co.'s annual meetings are typically upbeat affairs as executives showcase the company's successes to satisfied shareholders of one of the world's most diversified and successful companies. But after GE chief executive Jeff Immelt was lambasted earlier this month for failing to hit first-quarter goals and triggering a selloff that wiped out more than $46 billion of GE's market capitalization, Wednesday's annual meeting was essentially a mea culpa to investors and analysts alike...
GE Buys $2.5B Loan Book From Capmark Europe
With capital markets worldwide reaching for firmer footing, GE Real Estate has struck its second Pan-European mega-deal in five months for a commercial property loan book. The £1.22-billion [$2.51 billion USD] acquisition of senior and whole loans is secured by 39 performing retail and office properties, predominately in Germany...
Immelt Targets More Cuts at GE Annual Meeting (GE)
Jeff Immelt will get to explain the recent General Electric Co. (NYSE: GE) earnings SNAFU all over again today. Frankly, all we really care about at 247WallSt.com is what lies ahead rather than rehashing what we already saw. We probably won't be hanging on for every single comment this morning, but there was at least some addressing of the current climate and some remedies it seeks. For starters, the company is now targeting for $3 Billion in cost cuts rather than $2 Billion. The company also said it will more frequently review its entire portfolio, which translates to the possibilities that the company can have more spin-offs or divestitures down the road...
No credit crunch in energy, GE unit says
After investing $104 million for the acquisition of oil and natural gas reserves in the Gulf Coast, officials from GE's Energy Financial Services unit in Stamford said they're still looking to do business. With fewer financing options available because of the ever-tightening credit markets, John Schaeffer, managing director and head of the oil and gas unit at the GE division thinks his company is one of the most reliable partners for oil and gas companies in the high-demand energy sector. "There are fewer financing options out there since the subprime crisis," Schaeffer said. "The prices paid for assets have come back to a more rational level. We're now more competitive than we were when there was more inexpensive money out there."...
Tuesday, April 22, 2008
Recent News: Philippines, Erie, Pensioner, Tax-Exempt Facility, Jeffert Immelt, Real Estate, ConocoPhillips, and GE Energy
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...
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...
Friday, March 28, 2008
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....
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 Real Estate, GE Aviation, GE in Japan, Global Growth, GE Energy in IL & TX, Carbon Emissions, and GE Water in Turkey
GE Invests $18M in Two Apartment Complexes
GE Real Estate of Norwalk, CT has made an equity investment of $17.8 million with partner BH Equities to acquire two adjacent Class A multifamily assets located in this newly developed community 12 miles north of North Dallas. The properties are Benton Pointe, a 456-unit, three-story garden apartment complex at 425 Benton Dr., and Lansbrook at Twin Creek, a 288-unit, two-story garden apartment complex at 505 Benton Dr....
GE Aviation, Rolls-Royce complete testing phase for F136 engine
The F136 engine being developed by GE Aviation and Rolls-Royce for the U.S. Joint Strike Fighter (F-35) program, has moved another step toward production, the companies said....
Japanese biomass fires up GE engines
Two General Electric Jenbacher gas engines fueled by gasified wood chips are operating at Japan’s largest wood gas-to-energy plant, producing 2 megawatts of electricity for local power 400 kilometers north of Tokyo...
GE looking overseas to find growth
Worried about the U.S. economy? Go global.That's the philosophy of the massive conglomerate, which is globalizing all of its businesses. Overseas sales accounted for more than half of GE's total revenue for the first time last year, and there is likely more growth ahead....
GE Finalizes its Exit from Japanese Consumer Finance
An auction for General Electric Co.’s consumer finance business in Japan is entering its final stage, signaling the latest stage of consolidation of the ailing industry....
GE invests in Texas, Illinois wind projects
GE Energy Financial Services, a unit of GE, is partnering for the third time with leading global wind power developer Invenergy Wind LLC, by investing in Illinois and Texas wind farms that will produce emissions-free electricity equivalent to taking 96,000 average US cars off the road. Together, the two projects will produce nearly 250 megawatts of power...
Ahead of the Pack
General Electric Co. Chairman and CEO Jeffrey R. Immelt has become one of the country's leading advocates of government-mandated caps on carbon emissions. Not because he's an environmentalist -- he says he isn't -- but because he feels government will impose those caps someday so business should get out in front on the issue...
GE has plans for desalination facilities in Turkey
Kürşat Özkan, General Electric’s regional executive for Turkey and southwest Asia, has said that his company has been working on a number of projects to desalinate sea water and to recycle used water, moves of critical importance as climatologists suggest Turkey will be countries facing serious water shortages in 20 to 25 years....
GE Real Estate of Norwalk, CT has made an equity investment of $17.8 million with partner BH Equities to acquire two adjacent Class A multifamily assets located in this newly developed community 12 miles north of North Dallas. The properties are Benton Pointe, a 456-unit, three-story garden apartment complex at 425 Benton Dr., and Lansbrook at Twin Creek, a 288-unit, two-story garden apartment complex at 505 Benton Dr....
GE Aviation, Rolls-Royce complete testing phase for F136 engine
The F136 engine being developed by GE Aviation and Rolls-Royce for the U.S. Joint Strike Fighter (F-35) program, has moved another step toward production, the companies said....
Japanese biomass fires up GE engines
Two General Electric Jenbacher gas engines fueled by gasified wood chips are operating at Japan’s largest wood gas-to-energy plant, producing 2 megawatts of electricity for local power 400 kilometers north of Tokyo...
GE looking overseas to find growth
Worried about the U.S. economy? Go global.That's the philosophy of the massive conglomerate, which is globalizing all of its businesses. Overseas sales accounted for more than half of GE's total revenue for the first time last year, and there is likely more growth ahead....
GE Finalizes its Exit from Japanese Consumer Finance
An auction for General Electric Co.’s consumer finance business in Japan is entering its final stage, signaling the latest stage of consolidation of the ailing industry....
GE invests in Texas, Illinois wind projects
GE Energy Financial Services, a unit of GE, is partnering for the third time with leading global wind power developer Invenergy Wind LLC, by investing in Illinois and Texas wind farms that will produce emissions-free electricity equivalent to taking 96,000 average US cars off the road. Together, the two projects will produce nearly 250 megawatts of power...
Ahead of the Pack
General Electric Co. Chairman and CEO Jeffrey R. Immelt has become one of the country's leading advocates of government-mandated caps on carbon emissions. Not because he's an environmentalist -- he says he isn't -- but because he feels government will impose those caps someday so business should get out in front on the issue...
GE has plans for desalination facilities in Turkey
Kürşat Özkan, General Electric’s regional executive for Turkey and southwest Asia, has said that his company has been working on a number of projects to desalinate sea water and to recycle used water, moves of critical importance as climatologists suggest Turkey will be countries facing serious water shortages in 20 to 25 years....
Tuesday, March 25, 2008
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....
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....
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: 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...
Friday, February 8, 2008
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...
Wednesday, January 30, 2008
Recent News: Superalloys, GE Energy in China, Romania, Cameras, GE Real Estate in Germany and Japan, Invenergy, and GE Commercial Finance
GE develops new superalloys to reduce use of rare rhenium
General Electric is about to begin engine testing of new nickel superalloys designed to reduce its use of rhenium, a rare metal that has increased 10-fold in price in recent years as demand has increased....
GE Energy Opens New Facility In Shanghai
The environmental services business of Atlanta-based GE Energy has established a new facility in Shanghai in order to better serve its customers in the area. The facility, which consolidates several operations at other locations, consists of 7,000 square meters of laboratories, office space and production facilities...
Metka, GE JV preferred bidders for Romania plant
Greek construction company Metka and its joint venture partner General Electric made the lowest bid to build a power station in Romania, the Greek company said on Wednesday...
UPDATE 1-Spain's Colonial opens books to GE
Spanish property firm Inmobiliaria Colonial said on Wednesday it had opened its books to GE Real Estate Iberia, a unit of GE, in preparation for a possible takeover bid...
GE announces second-gen cameras
General Electric has announced what will only be its second generation of digital cameras, due in the spring. All of them will feature blink and smile detection, delaying shots for the best expressions. At the top of the compacts will be the E series, led by the E1050 ($249), a 10-megapixel camera able to record 720p video at 30fps. Shooters can output the video to an HD display, and control various functions though a three-inch touchscreen. Its lens is capable of 5x optical zoom, and its light sensitivity extends to ISO 3200. An optional GPS receiver can geotag images...
GE Expands in Germany and Japan
Expanding its holdings on both sides of the globe, GE Real Estate has inked major deals in Europe and Asia. In a $98-million transaction, GE Real Estate Germany has acquired a portfolio of seven mixed-used assets from a private individual. And GE Real Estate in Japan has launched a new business to develop “Ecomagination” condos, in a partnership with Meiho Enterprise Co...
GE Energy announces $1B-plus agreement with Invenergy
...Under the deal, GE Energy, based in Atlanta, will deliver 400 of its 1.5 megawatt wind turbines to Chicago-based Invenergy for projects in North America, and 200 megawatts, or 80 turbines, for projects in Europe...
GE’s second round brings nine new cameras
Now that General Imaging has a year under its belt the company is more than doubling the lineup of digital cameras offering nine new models this year at PMA 2008. This brings the total count to 15 giving more options in features and pricing with the familiar GE branding...
Dayton Superior Extends Commitment From GE Commercial Finance For Debt Refinancing To February 29, 2008
Dayton Superior Corp. announced that it has extended its commitment from GE Commercial Finance for debt refinancing of $250 million to February 29, 2008. The company expects to complete refinancing prior to that date. The commitment consists of new $150 million revolving credit facility and a new $100 million term loan...
General Electric is about to begin engine testing of new nickel superalloys designed to reduce its use of rhenium, a rare metal that has increased 10-fold in price in recent years as demand has increased....
GE Energy Opens New Facility In Shanghai
The environmental services business of Atlanta-based GE Energy has established a new facility in Shanghai in order to better serve its customers in the area. The facility, which consolidates several operations at other locations, consists of 7,000 square meters of laboratories, office space and production facilities...
Metka, GE JV preferred bidders for Romania plant
Greek construction company Metka and its joint venture partner General Electric made the lowest bid to build a power station in Romania, the Greek company said on Wednesday...
UPDATE 1-Spain's Colonial opens books to GE
Spanish property firm Inmobiliaria Colonial said on Wednesday it had opened its books to GE Real Estate Iberia, a unit of GE, in preparation for a possible takeover bid...
GE announces second-gen cameras
General Electric has announced what will only be its second generation of digital cameras, due in the spring. All of them will feature blink and smile detection, delaying shots for the best expressions. At the top of the compacts will be the E series, led by the E1050 ($249), a 10-megapixel camera able to record 720p video at 30fps. Shooters can output the video to an HD display, and control various functions though a three-inch touchscreen. Its lens is capable of 5x optical zoom, and its light sensitivity extends to ISO 3200. An optional GPS receiver can geotag images...
GE Expands in Germany and Japan
Expanding its holdings on both sides of the globe, GE Real Estate has inked major deals in Europe and Asia. In a $98-million transaction, GE Real Estate Germany has acquired a portfolio of seven mixed-used assets from a private individual. And GE Real Estate in Japan has launched a new business to develop “Ecomagination” condos, in a partnership with Meiho Enterprise Co...
GE Energy announces $1B-plus agreement with Invenergy
...Under the deal, GE Energy, based in Atlanta, will deliver 400 of its 1.5 megawatt wind turbines to Chicago-based Invenergy for projects in North America, and 200 megawatts, or 80 turbines, for projects in Europe...
GE’s second round brings nine new cameras
Now that General Imaging has a year under its belt the company is more than doubling the lineup of digital cameras offering nine new models this year at PMA 2008. This brings the total count to 15 giving more options in features and pricing with the familiar GE branding...
Dayton Superior Extends Commitment From GE Commercial Finance For Debt Refinancing To February 29, 2008
Dayton Superior Corp. announced that it has extended its commitment from GE Commercial Finance for debt refinancing of $250 million to February 29, 2008. The company expects to complete refinancing prior to that date. The commitment consists of new $150 million revolving credit facility and a new $100 million term loan...
Wednesday, January 16, 2008
Recent News: GE Money, GE Eneregy Financial Services, GE Real Estate, GE Capital, GE Infrastructure, and Kucinich vs. NBC
GE Money launches 3 year discount mortgage
Almost three quarters (70%) of the UK’s mortgage brokers believe that the Bank of England base rate will end the year lower than it finished 2007, according to GE Money. The majority (61%) predict the base rate will finish the year between 5.0% and 5.4%. However, one-in-ten brokers (9%) predict the Bank of England base rate will fall to below 5% by the end of 2008...
GE invests $300M in Horizon wind farms
Horizon Wind Energy LLC has received a $300 million equity investment from GE Energy Financial Services in four of its wind farms. Horizon, a Houston, Texas wind farm developer, is a subsidiary of Energias de Portugal SA...
GE Provides $32M for Quincy Multifamily Refi
GE Real Estate has announced the issuance of a $32-million fixed-rate refinancing for the Reserve at Marina Bay apartments here on behalf of Core Investments and O’Connell Investments. The six-story, 141-unit complex is eight miles south of Boston in the Marina Bay mixed-use development that includes condos, retail, restaurant and a large marina...
GE Capital Solution’s commercial distribution finance unit provides multi-million dollar credit line to computer word processing systems
The team at GE Capital Solutions worked with us to ensure we have financing in place to accelerate our growth strategy,” said Christine Waldrop, President, CWPS. “GE is not only providing our inventory financing credit line, but they are also helping us during our busy season with a seasonal line increase...
GE infrastructure could shine in fourth quarter
Overall, GE said that it expects its infrastructure business, which includes wind turbines, to contribute heartily to its quarterly results. The company forecast an earnings range in December of 67 cents to 69 cents a share...
Kucinich decries GE-media conspiracy
At 5:25 p.m., shortly after the Nevada Supreme Court refused to give Dennis Kucinich a seat at the debate, a small band of his supporters marched to a far corner of a parking lot outside the Cashman Center, where supporters of the three major candidates...
GE says raises renewable energy investment target to $6 billion
General Electric Co.'s energy investment business, buoyed by rising demand for alternative power, said Monday it will increase its investment in renewable energy by 50 percent, to $6 billion by 2010...
GE Unit Boosts 2010 Renewable Energy Investing Target to $6 Billion, Announces Its Largest Wind Deal
Reinforcing GE's ecomagination program, GE Energy Financial Services announced today that it has raised its 2010 renewable energy investing target by 50 percent to $6 billion, and has just topped $3 billion. GE Energy Financial Services...
Almost three quarters (70%) of the UK’s mortgage brokers believe that the Bank of England base rate will end the year lower than it finished 2007, according to GE Money. The majority (61%) predict the base rate will finish the year between 5.0% and 5.4%. However, one-in-ten brokers (9%) predict the Bank of England base rate will fall to below 5% by the end of 2008...
GE invests $300M in Horizon wind farms
Horizon Wind Energy LLC has received a $300 million equity investment from GE Energy Financial Services in four of its wind farms. Horizon, a Houston, Texas wind farm developer, is a subsidiary of Energias de Portugal SA...
GE Provides $32M for Quincy Multifamily Refi
GE Real Estate has announced the issuance of a $32-million fixed-rate refinancing for the Reserve at Marina Bay apartments here on behalf of Core Investments and O’Connell Investments. The six-story, 141-unit complex is eight miles south of Boston in the Marina Bay mixed-use development that includes condos, retail, restaurant and a large marina...
GE Capital Solution’s commercial distribution finance unit provides multi-million dollar credit line to computer word processing systems
The team at GE Capital Solutions worked with us to ensure we have financing in place to accelerate our growth strategy,” said Christine Waldrop, President, CWPS. “GE is not only providing our inventory financing credit line, but they are also helping us during our busy season with a seasonal line increase...
GE infrastructure could shine in fourth quarter
Overall, GE said that it expects its infrastructure business, which includes wind turbines, to contribute heartily to its quarterly results. The company forecast an earnings range in December of 67 cents to 69 cents a share...
Kucinich decries GE-media conspiracy
At 5:25 p.m., shortly after the Nevada Supreme Court refused to give Dennis Kucinich a seat at the debate, a small band of his supporters marched to a far corner of a parking lot outside the Cashman Center, where supporters of the three major candidates...
GE says raises renewable energy investment target to $6 billion
General Electric Co.'s energy investment business, buoyed by rising demand for alternative power, said Monday it will increase its investment in renewable energy by 50 percent, to $6 billion by 2010...
GE Unit Boosts 2010 Renewable Energy Investing Target to $6 Billion, Announces Its Largest Wind Deal
Reinforcing GE's ecomagination program, GE Energy Financial Services announced today that it has raised its 2010 renewable energy investing target by 50 percent to $6 billion, and has just topped $3 billion. GE Energy Financial Services...
