Olympic sponsors strike marketing gold with tie-ins to green Games
Hockey's Great One clutched a recyclable torch as he rode in a hybrid pickup en route to ignite the natural gas Olympic flame on an iconic voyage that shone an international spotlight on the creators of those clean energy innovations.
Wayne Gretzky's Olympic moment was a veritable showcase of products from high-profile corporate sponsors seeking to tie their brands to Vancouver's promise to host the greenest Games in history, including GM Canada, maker of the Silverado hybrid, and Bombardier Inc. (TSX:BBD.B), which manufactured the mostly recyclable torch.
Environmental sustainability is a well-publicized theme for the Vancouver Olympic organizing committee, which has pressured corporate sponsors, from Bell Canada (TSX:BCE) to Canadian Pacific Railway (TSX:CP), to reduce their environmental footprints.
NBC’s Last Day of Olympics Draws 19.8 Million Viewers
NBC’s final night of Olympics coverage attracted 19.8 million viewers, carrying the network to victory in the Nielsen ratings, according to preliminary data.
The broadcaster, part of General Electric Co., also drew 5.3 percent of the 18-to-49-year-old viewers advertisers target to the final night in Vancouver, according to Nielsen Co. data supplied by the networks today, the most for prime time.
Showing posts with label NBC. Show all posts
Showing posts with label NBC. Show all posts
Tuesday, March 2, 2010
Sunday, February 14, 2010
Olympics, GE sues Mitsubishi, Obama, and Lobbyists
Olympic Opening Draws 33 Million U.S. Viewers
The opening of the Winter Olympics drew a surge of viewers Friday, even as the Games' planners contended with unseasonably warm weather and a tragic death. An average of 32.6 million people in the U.S. watched the opening ceremony on NBC, according to early figures provided by the General Electric Co. network. That is 47% above the 22.2 million who watched the Torino, Italy, opening four years ago, and the third-most watched Winter opening since at least the 1980s.
GE sues Mitsubishi over turbine patents
Washington: General Electric, the biggest maker of wind turbines in the United States, filed a new patent- infringement lawsuit against Mitsubishi Heavy Industries and plans to appeal an earlier case it lost. The new complaint, filed on Thursday in federal court in Dallas, claims Mitsubishi Heavy infringes two patents.
Why is Obama Taking Recovery Advice From GE’s CEO?
Former General Electric CEO Jack Welch epitomized the ultimate corporate globalization mentality when he declared in 1998: "Ideally, you'd have every plant you own on a barge." The idea was to abandon existing workers as rapidly as possible in search of the lowest possible wage and maximum control. GE's prominence always guarantees it the ear of the president. Current CEO Jeffrey Immelt is a member of President Obama's "kitchen cabinet," the advisory board set up to "provide an independent voice on economic issues" and offer "independent advice to the President as he formulates and implements his plans for economic recovery."
Lobbyists didn’t suffer a slowdown in 2009
General Electric, based in Fairfield, Conn., was the second biggest-spending corporation with $25.5 million, up from $19.4 million in 2008. GE’s NBC Universal subsidiary is seeking approval to merge with Philadelphia-based Comcast.
The opening of the Winter Olympics drew a surge of viewers Friday, even as the Games' planners contended with unseasonably warm weather and a tragic death. An average of 32.6 million people in the U.S. watched the opening ceremony on NBC, according to early figures provided by the General Electric Co. network. That is 47% above the 22.2 million who watched the Torino, Italy, opening four years ago, and the third-most watched Winter opening since at least the 1980s.
GE sues Mitsubishi over turbine patents
Washington: General Electric, the biggest maker of wind turbines in the United States, filed a new patent- infringement lawsuit against Mitsubishi Heavy Industries and plans to appeal an earlier case it lost. The new complaint, filed on Thursday in federal court in Dallas, claims Mitsubishi Heavy infringes two patents.
Why is Obama Taking Recovery Advice From GE’s CEO?
Former General Electric CEO Jack Welch epitomized the ultimate corporate globalization mentality when he declared in 1998: "Ideally, you'd have every plant you own on a barge." The idea was to abandon existing workers as rapidly as possible in search of the lowest possible wage and maximum control. GE's prominence always guarantees it the ear of the president. Current CEO Jeffrey Immelt is a member of President Obama's "kitchen cabinet," the advisory board set up to "provide an independent voice on economic issues" and offer "independent advice to the President as he formulates and implements his plans for economic recovery."
Lobbyists didn’t suffer a slowdown in 2009
General Electric, based in Fairfield, Conn., was the second biggest-spending corporation with $25.5 million, up from $19.4 million in 2008. GE’s NBC Universal subsidiary is seeking approval to merge with Philadelphia-based Comcast.
Sunday, December 20, 2009
NBC Universal / Comcast (NYT)
G.E. Makes It Official: NBC Will Go to Comcast
After nearly nine months of negotiations, Comcast, the nation’s largest cable operator, announced an agreement on Thursday to acquire NBC Universal from the General Electric Company.
The deal valued NBC Universal at about $30 billion.
The agreement will create a joint venture, with Comcast owning 51 percent and G.E. owning 49 percent. Comcast will contribute to the joint venture its stable of cable channels, which includes Versus, the Golf Channel and E Entertainment, worth about $7.25 billion, and will pay G.E. about $6.5 billion in cash, for a total of $13.75 billion. For now, the network will remain NBC Universal, but ultimately Comcast could decide to change the name....
READ THE FULL STORY HERE.
After nearly nine months of negotiations, Comcast, the nation’s largest cable operator, announced an agreement on Thursday to acquire NBC Universal from the General Electric Company.
The deal valued NBC Universal at about $30 billion.
The agreement will create a joint venture, with Comcast owning 51 percent and G.E. owning 49 percent. Comcast will contribute to the joint venture its stable of cable channels, which includes Versus, the Golf Channel and E Entertainment, worth about $7.25 billion, and will pay G.E. about $6.5 billion in cash, for a total of $13.75 billion. For now, the network will remain NBC Universal, but ultimately Comcast could decide to change the name....
READ THE FULL STORY HERE.
Thursday, October 23, 2008
Recent News: Battery-powered jobs, Haier, NBC Universal, Ecomagination, and Fed facility
GE stepping up push for battery-powered cars General Electric Co. is stepping up its investment in developing new battery technologies for autos as it looks to increase its role in electrifying cars -- one of the key strategies to boost fuel efficiency and reduce carbon dioxide emissions.....
China's Haier plays waiting game for GE unit
Haier, China's largest home appliance maker, plans not to bid for General Electric Co's appliances unit until it sees clear signs of a U.S. market recovery, said people with direct knowledge of the matter. A bid for GE's appliances business, which the U.S. giant put on the block in May, could be Haier's last opportunity to buy a household U.S. brand, part of its ambitions to reach global consumers rather than just Chinese....
NBC Universal Outlines 3% Budget Cut
NBC Universal is looking to shave $500 million from next year's budget, in a new sign that the broader economic crisis is likely to exact a stiff toll on the media sector. The General Electric Co. unit, which includes broadcast and cable-TV networks, local television stations and a movie studio, says the cuts will amount to 3% of its 2009 budget....
GE’s 2008 Ecomagination Revenues to Rise 21%, to $17 Billion
GE reports that, amidst global economic turbulence, revenues from its range of energy efficient and environmentally advantageous products and services will surge 21% to $17 billion in 2008, while GE’s annual investment in cleaner research and development will pass $1.4 billion....
GE plans to use Fed facility next week
General Electric Co. plans to use the Federal Reserve's new short-term funding facility when it is launched on Monday. The U.S. conglomerate and its finance arm, General Electric Capital Corp, have registered as users of the facility, the company told its commercial paper customers.....
China's Haier plays waiting game for GE unit
Haier, China's largest home appliance maker, plans not to bid for General Electric Co's appliances unit until it sees clear signs of a U.S. market recovery, said people with direct knowledge of the matter. A bid for GE's appliances business, which the U.S. giant put on the block in May, could be Haier's last opportunity to buy a household U.S. brand, part of its ambitions to reach global consumers rather than just Chinese....
NBC Universal Outlines 3% Budget Cut
NBC Universal is looking to shave $500 million from next year's budget, in a new sign that the broader economic crisis is likely to exact a stiff toll on the media sector. The General Electric Co. unit, which includes broadcast and cable-TV networks, local television stations and a movie studio, says the cuts will amount to 3% of its 2009 budget....
GE’s 2008 Ecomagination Revenues to Rise 21%, to $17 Billion
GE reports that, amidst global economic turbulence, revenues from its range of energy efficient and environmentally advantageous products and services will surge 21% to $17 billion in 2008, while GE’s annual investment in cleaner research and development will pass $1.4 billion....
GE plans to use Fed facility next week
General Electric Co. plans to use the Federal Reserve's new short-term funding facility when it is launched on Monday. The U.S. conglomerate and its finance arm, General Electric Capital Corp, have registered as users of the facility, the company told its commercial paper customers.....
Tuesday, October 21, 2008
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....
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....
Monday, October 13, 2008
Recent News: NBC Olympics, Earnings, Stock Performance, Finance Arm, and Warren Buffett
NBC loses money on Beijing Olympics
NBC Universal lost money on the Beijing Olympics, executives of parent company General Electric said Friday....
GE’s Quality of Earnings Problems
General Electric, a bellwether stock for the US economy, reported a 12% drop in third quarter earnings, as the credit crisis continues to hammer its finance unit, GE Capital, a big profit driver for the industrial conglomerate. On closer examination, GE’s earnings report has a number quality of earnings issues. Investors should sit up and take notice of the danger zones...
GE Rises Most Since 1980 as Profit Meets Estimates
General Electric Co. rose 13 percent in New York trading, the most in at least 28 years, after its third-quarter profit matched analysts' estimates during the worst U.S. financial crisis since the Great Depression. Profit from continuing operations fell 12 percent to $4.48 billion, or 45 cents a share, from $5.11 billion, or 50 cents, a year earlier. Sales rose 11 percent to $47.2 billion, the Fairfield, Connecticut-based company said today. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 forecast...
GE profit battered by finance arm
General Electric profit declined for a third straight quarter because of lower earnings at its finance arm during the ongoing financial crisis. Profit from continuing operations fell 12% to $US4.48 billion ($6.9 billion), or 45 cents a share, from $US5.11 billion, or 50 cents, a year earlier, matching analysts' average estimate. Sales rose 11% to $US47.2 billion, the Fairfield, Connecticut-based company said Friday. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 profit forecast....
GE's Financial Dead Arm
General Electric reported its earnings Friday, and the results were unsurprising. They met Wall Street's expectations and were defined by weakness in its financial arm, which has been hit by problems globally and in the credit markets. GE's profit dropped 23.2% to $4.3 billion, or 43 cents per share, from $5.6 billion, or 54 cents per share, reported in last year's corresponding quarter. The results were just short of Wall Street's expected 45 cents per share....
Investing Like Buffett
IF this were the 1930s, we might go to the movies and see a gaudy, escapist musical to feel better again. Instead, let’s pretend we’re Warren Buffett...
Bad News Is Good News For GE
General Electric had primed the market for a crummy third-quarter earnings report, so investors weren't too surprised when one came on Friday. There was some unexpected good news from its media division, but the cloud inside that silver lining was that the better-than-expected results were a direct reflection of the direr-than-expected global economy....
GE makes a profit, but it's lower
General Electric Co.’s third-quarter net income fell by 22 percent amid a decrease in earnings in its GE Capital financial services unit, which has been affected by the ongoing credit crunch.
Fairfield, Conn.-based GE (NYSE: GE) today reported that net income declined to $4.3 billion, or 43 cents a share, compared with $5.6 billion, or 54 cents per share, in the same quarter a year earlier...
What Does Warren Buffett See in General Electric?
By all accounts, the legendary investor has entered less-than-familiar territory. General Electric (GE) and Goldman Sachs (GS) will most certainly determine whether Mr. Buffett's unique ability to pick business models with substantial inherent upside is still intact or whether the dramatic changes in the global economy are forcing him to fish in troubled waters. GE's Keith Sherin has just announced a worldwide upgrading of lending standards. But he did not clarify two important and related issues. Will this upgrading, or tightening, of GE's portfolio be founded in a revaluation of the assets which triggered the loans in the first place? And, if so, how will the almost-certain degradation of such assets impact upon GE's AAA rating?...
NBC Universal lost money on the Beijing Olympics, executives of parent company General Electric said Friday....
GE’s Quality of Earnings Problems
General Electric, a bellwether stock for the US economy, reported a 12% drop in third quarter earnings, as the credit crisis continues to hammer its finance unit, GE Capital, a big profit driver for the industrial conglomerate. On closer examination, GE’s earnings report has a number quality of earnings issues. Investors should sit up and take notice of the danger zones...
GE Rises Most Since 1980 as Profit Meets Estimates
General Electric Co. rose 13 percent in New York trading, the most in at least 28 years, after its third-quarter profit matched analysts' estimates during the worst U.S. financial crisis since the Great Depression. Profit from continuing operations fell 12 percent to $4.48 billion, or 45 cents a share, from $5.11 billion, or 50 cents, a year earlier. Sales rose 11 percent to $47.2 billion, the Fairfield, Connecticut-based company said today. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 forecast...
GE profit battered by finance arm
General Electric profit declined for a third straight quarter because of lower earnings at its finance arm during the ongoing financial crisis. Profit from continuing operations fell 12% to $US4.48 billion ($6.9 billion), or 45 cents a share, from $US5.11 billion, or 50 cents, a year earlier, matching analysts' average estimate. Sales rose 11% to $US47.2 billion, the Fairfield, Connecticut-based company said Friday. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 profit forecast....
GE's Financial Dead Arm
General Electric reported its earnings Friday, and the results were unsurprising. They met Wall Street's expectations and were defined by weakness in its financial arm, which has been hit by problems globally and in the credit markets. GE's profit dropped 23.2% to $4.3 billion, or 43 cents per share, from $5.6 billion, or 54 cents per share, reported in last year's corresponding quarter. The results were just short of Wall Street's expected 45 cents per share....
Investing Like Buffett
IF this were the 1930s, we might go to the movies and see a gaudy, escapist musical to feel better again. Instead, let’s pretend we’re Warren Buffett...
Bad News Is Good News For GE
General Electric had primed the market for a crummy third-quarter earnings report, so investors weren't too surprised when one came on Friday. There was some unexpected good news from its media division, but the cloud inside that silver lining was that the better-than-expected results were a direct reflection of the direr-than-expected global economy....
GE makes a profit, but it's lower
General Electric Co.’s third-quarter net income fell by 22 percent amid a decrease in earnings in its GE Capital financial services unit, which has been affected by the ongoing credit crunch.
Fairfield, Conn.-based GE (NYSE: GE) today reported that net income declined to $4.3 billion, or 43 cents a share, compared with $5.6 billion, or 54 cents per share, in the same quarter a year earlier...
What Does Warren Buffett See in General Electric?
By all accounts, the legendary investor has entered less-than-familiar territory. General Electric (GE) and Goldman Sachs (GS) will most certainly determine whether Mr. Buffett's unique ability to pick business models with substantial inherent upside is still intact or whether the dramatic changes in the global economy are forcing him to fish in troubled waters. GE's Keith Sherin has just announced a worldwide upgrading of lending standards. But he did not clarify two important and related issues. Will this upgrading, or tightening, of GE's portfolio be founded in a revaluation of the assets which triggered the loans in the first place? And, if so, how will the almost-certain degradation of such assets impact upon GE's AAA rating?...
Wednesday, October 8, 2008
Recent News: Tina Fey, GE Aviation new CEO Lorraine Bolsinger, Stock Performance, Warren Buffet, and Wind
Watch Tina Fey Save General Electric
In her hilarious 30 Rock sitcom, Tina Fey skewers the network politics of NBC. Ironically enough, she may be (almost singlehandedly) saving the broadcaster, too. The season premiere of 30 Rock is still several weeks away, but Fey is already giving NBC a huge ratings boost with her spot-on Sarah Palin impersonations on Saturday Night Live...
General Electric names Lorraine Bolsinger CEO of GE Aviation systems - Update
Monday, General Electric Co., announced the appointment of Lorraine Bolsinger as President and Chief executive officer of GE Aviation systems, LLC. The company also named Steve Fludder as head of ecomagination, succeeding Bolsinger...
Let's See If GE Cuts It
Of course, it'll be tough to match the newsworthiness of Warren Buffett and Berkshire Hathaway's (NYSE: BRK-A) (NYSE: BRK-B) injection of $3 billion into General Electric in exchange for perpetual preferred stock. That deal followed hard behind a similar Buffett investment of $5 billion into Goldman Sachs (NYSE: GS). But what induced Warren's GE purchase? What is it about the company that he finds especially attractive -- other than GE shares' nearly 50% plunge from their 52-week high? One silver lining: Several of GE's areas are at or near the top of their respective lines of business, including...
Shares of GE fall to 11-year low
Shares of General Electric Co. hovered at around $20 Monday, the lowest point in more than 11 years as a sell-off pulled down broader markets. The share price of the industrial and commercial conglomerate, a bellwether of the U.S. economy, has slid steadily since the financial crisis hit Wall Street last month. On Sept. 25, GE cut its earnings forecast for the year, blaming volatile financial markets damaging the profitability of its loan and lease business that accounts for almost half its income....
Worrying New Disclosures From GE
Last Wednesday, the same day General Electric announced that Warren Buffett’s Berkshire Hathaway planned to invest $3 bn in the conglomerate and that it planned a new $12 bn stock offering, GE shot a little noticed filing over to the Securities and Exchange Commission that gave fresh detail on the unhealthy state of the company....
Shares of GE fall to 11-year low
Shares of General Electric Co. hovered at around $20 Monday, the lowest point in more than 11 years as a sell-off pulled down broader markets. The share price of the industrial and commercial conglomerate, a bellwether of the U.S. economy, dropped sharply in April after GE widely missed its earnings target for the first quarter. It continued its slide last month as investors fled most financial companies....
Commodities Continue Slide; GE Trips South Of $20
General Electric is generally regarded, for better or worse, as a bellwether for the global economy. Not an auspicious moniker to have, when the global economy seemed to be tettering on the brink of recession, something GE tacitly admitted last month when it warned that its quarter wasn’t going to live up to forecasts. Last week’s decision to raise $12 billion...
Buffett Buys GE, Goldman. Should You?
While I was sitting at my desk on Wednesday, I heard Chris Rowe marvel, “Warren Buffett is such a stud.” Now, Chris does have a slight man-crush on Warren, but he’s also happily married with baby number two on the way. So I figured that Buffett must have just pulled off a major coup. Sure enough, I looked at the news and saw that Buffett’s Berkshire Hathaway (BRK.A) had invested $3 billion in General Electric (GE) preferred stock carrying a 10% dividend. Buffett also secured the option of picking up another $3 billion worth of GE common stock at $22.25 a share over the next five years. GE stock closed at $24.50 on Oct. 1. For average Joe investor, GE’s dividend yield is around 5%. ...
GE bullish over wind forecast
Given that Germany has the highest installed wind capacity in the world at about 23,000MW, it is not surprising to learn that US engineering giant GE Power's main renewables facility is sited in the country. Located in Salzbergen, close to the border with the Netherlands, and capable of producing 1,600 wind turbines a year, the facility is GE's so-called centre of excellence for wind energy. While GE is obviously proud of the facility and the investment it has put into it, the site has a rather dubious heritage, having been acquired in a bankruptcy sale following the spectacular collapse of power industry pariah Enron in 2002. However, according to GE Power's vice president of renewables, Victor Abate, the company has made significant improvements to the Salzbergen factory and the wider wind business it acquired....
In her hilarious 30 Rock sitcom, Tina Fey skewers the network politics of NBC. Ironically enough, she may be (almost singlehandedly) saving the broadcaster, too. The season premiere of 30 Rock is still several weeks away, but Fey is already giving NBC a huge ratings boost with her spot-on Sarah Palin impersonations on Saturday Night Live...
General Electric names Lorraine Bolsinger CEO of GE Aviation systems - Update
Monday, General Electric Co., announced the appointment of Lorraine Bolsinger as President and Chief executive officer of GE Aviation systems, LLC. The company also named Steve Fludder as head of ecomagination, succeeding Bolsinger...
Let's See If GE Cuts It
Of course, it'll be tough to match the newsworthiness of Warren Buffett and Berkshire Hathaway's (NYSE: BRK-A) (NYSE: BRK-B) injection of $3 billion into General Electric in exchange for perpetual preferred stock. That deal followed hard behind a similar Buffett investment of $5 billion into Goldman Sachs (NYSE: GS). But what induced Warren's GE purchase? What is it about the company that he finds especially attractive -- other than GE shares' nearly 50% plunge from their 52-week high? One silver lining: Several of GE's areas are at or near the top of their respective lines of business, including...
Shares of GE fall to 11-year low
Shares of General Electric Co. hovered at around $20 Monday, the lowest point in more than 11 years as a sell-off pulled down broader markets. The share price of the industrial and commercial conglomerate, a bellwether of the U.S. economy, has slid steadily since the financial crisis hit Wall Street last month. On Sept. 25, GE cut its earnings forecast for the year, blaming volatile financial markets damaging the profitability of its loan and lease business that accounts for almost half its income....
Worrying New Disclosures From GE
Last Wednesday, the same day General Electric announced that Warren Buffett’s Berkshire Hathaway planned to invest $3 bn in the conglomerate and that it planned a new $12 bn stock offering, GE shot a little noticed filing over to the Securities and Exchange Commission that gave fresh detail on the unhealthy state of the company....
Shares of GE fall to 11-year low
Shares of General Electric Co. hovered at around $20 Monday, the lowest point in more than 11 years as a sell-off pulled down broader markets. The share price of the industrial and commercial conglomerate, a bellwether of the U.S. economy, dropped sharply in April after GE widely missed its earnings target for the first quarter. It continued its slide last month as investors fled most financial companies....
Commodities Continue Slide; GE Trips South Of $20
General Electric is generally regarded, for better or worse, as a bellwether for the global economy. Not an auspicious moniker to have, when the global economy seemed to be tettering on the brink of recession, something GE tacitly admitted last month when it warned that its quarter wasn’t going to live up to forecasts. Last week’s decision to raise $12 billion...
Buffett Buys GE, Goldman. Should You?
While I was sitting at my desk on Wednesday, I heard Chris Rowe marvel, “Warren Buffett is such a stud.” Now, Chris does have a slight man-crush on Warren, but he’s also happily married with baby number two on the way. So I figured that Buffett must have just pulled off a major coup. Sure enough, I looked at the news and saw that Buffett’s Berkshire Hathaway (BRK.A) had invested $3 billion in General Electric (GE) preferred stock carrying a 10% dividend. Buffett also secured the option of picking up another $3 billion worth of GE common stock at $22.25 a share over the next five years. GE stock closed at $24.50 on Oct. 1. For average Joe investor, GE’s dividend yield is around 5%. ...
GE bullish over wind forecast
Given that Germany has the highest installed wind capacity in the world at about 23,000MW, it is not surprising to learn that US engineering giant GE Power's main renewables facility is sited in the country. Located in Salzbergen, close to the border with the Netherlands, and capable of producing 1,600 wind turbines a year, the facility is GE's so-called centre of excellence for wind energy. While GE is obviously proud of the facility and the investment it has put into it, the site has a rather dubious heritage, having been acquired in a bankruptcy sale following the spectacular collapse of power industry pariah Enron in 2002. However, according to GE Power's vice president of renewables, Victor Abate, the company has made significant improvements to the Salzbergen factory and the wider wind business it acquired....
Saturday, September 13, 2008
Recent News: NBC Super Bowl Ads and Stock Performance
NBC Manages to Rack Up Strong Sales on Super Bowl Marketers may be tightening their belts amid the economic downturn, but you'd never know it from the sale of Super Bowl ads. The National Football League season is only a week old, but General Electric's NBC Universal says it has already sold about 85% of the available spots, up from the 60% that is standard this time of year. The robust sales pace comes despite an estimated 10% price increase from the last Super Bowl, and NBC says there are only about 10 spots left...
General Electric (GE) PriceWatch Alert for September 15, 2008
General Electric (NYSE: GE) ended the last trading session at $26.75. So far the stock has hit a 52-week low of $25.60 and 52-week high of $42.15. General Electric stock has been showing support around 25.53 and resistance in the 28.35 range. Technical indicators for the stock are Bearish and S&P gives GE a positive 4 STAR (out of 5) buy rating. GE appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '09 27 covered call (GEW CA) for a net debit in the $24.40 area. That is also the break even stock price for this trade...
GE shares down 5 percent amid financial sector worry
General Electric Co shares fell 5 percent on Friday, as investors worried that turmoil in the financial sector would take a toll on the conglomerate.
The shares of the second-largest company by market capitalization were down $1.46 to $26.70 in late afternoon trading on the New York Stock Exchange. Earlier, they had been as low as $26.33....
GE slides on worries over credit card unit sale
Shares of General Electric Co. fell more than 6 percent Friday, which an analyst attributed to nervousness at the conglomerate's inability to sell its private-label credit card business. Analyst Nicholas Heymann of Sterne Agee in New York said in a phone interview that investors believed GE would sell its credit card business this summer....
General Electric (GE) PriceWatch Alert for September 15, 2008
General Electric (NYSE: GE) ended the last trading session at $26.75. So far the stock has hit a 52-week low of $25.60 and 52-week high of $42.15. General Electric stock has been showing support around 25.53 and resistance in the 28.35 range. Technical indicators for the stock are Bearish and S&P gives GE a positive 4 STAR (out of 5) buy rating. GE appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '09 27 covered call (GEW CA) for a net debit in the $24.40 area. That is also the break even stock price for this trade...
GE shares down 5 percent amid financial sector worry
General Electric Co shares fell 5 percent on Friday, as investors worried that turmoil in the financial sector would take a toll on the conglomerate.
The shares of the second-largest company by market capitalization were down $1.46 to $26.70 in late afternoon trading on the New York Stock Exchange. Earlier, they had been as low as $26.33....
GE slides on worries over credit card unit sale
Shares of General Electric Co. fell more than 6 percent Friday, which an analyst attributed to nervousness at the conglomerate's inability to sell its private-label credit card business. Analyst Nicholas Heymann of Sterne Agee in New York said in a phone interview that investors believed GE would sell its credit card business this summer....
Thursday, September 11, 2008
Recent News: Apple iTunes and NBCU Programs, Google, GE Oil and Gas, and EPA / Housatonic River
Apple ends beef with NBC over iTunes shows
Apple Inc. has lured the NBC television network back to the iTunes online media service. This ends a year of acrimony over the prices Apple charges for shows it sells over iTunes...
You Don't Really Understand Google
lot of people think that Google lives and dies with online success alone, and that this state of affairs will never change. I hate to have to tell you this, but you're all wrong.
The Wall Street Journal supports my position today by lifting the veil of secrecy from an advertising deal between Mountain View and General Electric's NBC Universal unit. No, Google isn't going to carpet-bomb the Sci-Fi Channel and CNBC with obnoxious brand-builder ads, the way Yahoo! yodeled all over your TV a decade ago. This deal goes the other way....
GE Oil & Gas wins 100 mln usd contract for China's 2nd West-to-East gas pipeline
GE Oil & Gas, a unit of US-based General Electric, said it won a 100 mln usd contract to provide pipeline compression equipment for China's second West-to-East natural gas transmission pipeline...
EPA says GE cleanup plan for Housatonic inadequate
The EPA has criticized General Electric Co.'s cleanup plan for a stretch of the Housatonic River south of Pittsfield....
Apple Inc. has lured the NBC television network back to the iTunes online media service. This ends a year of acrimony over the prices Apple charges for shows it sells over iTunes...
You Don't Really Understand Google
lot of people think that Google lives and dies with online success alone, and that this state of affairs will never change. I hate to have to tell you this, but you're all wrong.
The Wall Street Journal supports my position today by lifting the veil of secrecy from an advertising deal between Mountain View and General Electric's NBC Universal unit. No, Google isn't going to carpet-bomb the Sci-Fi Channel and CNBC with obnoxious brand-builder ads, the way Yahoo! yodeled all over your TV a decade ago. This deal goes the other way....
GE Oil & Gas wins 100 mln usd contract for China's 2nd West-to-East gas pipeline
GE Oil & Gas, a unit of US-based General Electric, said it won a 100 mln usd contract to provide pipeline compression equipment for China's second West-to-East natural gas transmission pipeline...
EPA says GE cleanup plan for Housatonic inadequate
The EPA has criticized General Electric Co.'s cleanup plan for a stretch of the Housatonic River south of Pittsfield....
Recent News: China, Google TV Ads, Duke Energy Wind, US Navy Contract, GE Pipeline, Saudi Air Force, MSNBC Keith Olberman and Jeffery Immelt
New Look General Electric Aims to Double its China Business by the Decade’s End
General Electric Co. expects its business in China to double to $10 billion a year by 2010, as the U.S. industrial giant aims to overcome a sputtering U.S. economy by ramping up its emerging-markets focus...
NBC Universal in pact for Google to sell its TV ads
NBC Universal, a unit of General Electric Co, is teaming up with Google Inc on a multi-year partnership in which Google will act as a broker to sell TV advertising on some NBC cable channels. In a joint statement, the two companies said NBC Universal will offer advertising time from several of its cable networks for Google to sell advertising through its Google TV Ads service.
Google to broker ads for cable TV channels
Financial terms of the deal were not disclosed. Google said in a prepared statement that its TV Ads platform will begin selling inventory for channels including Oxygen, CNBC, Sci Fi, Sleuth and Chiller "in the coming months, with potential to expand onto other NBCU properties in the future."...
Duke Energy Buys GE Wind Turbines For Undisclosed Sum
Duke Energy Corp. (DUK), said it agreed to buy 100 wind turbines from General Electric Co. (GE) for an undisclosed sum. Duke, which has been investing in its wind-energy business, also announced a long-term agreement to sell 99 megawatts of electricity from its new Wyoming wind farm. Terms of the deal weren't disclosed....
General Electric gets $120.2M Navy deal
A division of General Electric Co. received a $120.2 million contract boost from the Naval Air Systems Command. The contract covers 30 engines for the F/A-18E/F aircraft, plus 24 devices kits and 19 various modules for the Royal Australian Air Force, the Pentagon said late Monday....
GE Oil & Gas' PII Pipeline Solutions Division Signs Pipeline Integrity Services Distribution Agreement In Colombia
GE Oil & Gas' PII Pipeline Solutions division has signed a pipeline integrity services distributor agreement with Tecnicontrol S.A., in Colombia, as part of GE's strategy to strengthen its pipeline integrity services in South America....
Saudi Air Force adds to GE Aviation engine order
The Royal Saudi Air Force has added 91 F110-GE-129C engines to a previous order for its military aircraft, GE Aviation said Tuesday. With the latest order, the Saudis plan to upgrade 41 twin-engine Boeing F-15S aircraft, according to a news release. They had previously ordered 65 F110 engines to upgrade 29 of the aircraft...
MSNBC Bags "Fighting Anchors" Strategy, Dumps Olbermann And Matthews
Keith Olbermann and Chris Matthews, MSNBC's on-air political duo covering this year's primaries, debates and conventions, have never had the best on-air rapport. But at the Democratic National Convention, the animosity had reached a boiling point (see video below), so MSNBC decided to replace their contentious duo with seasoned and seemingly even-tempered political reporter: David Gregory...
Did GE CEO Jeff Immelt Order Keith Olbermann Demotion?
Rumor has it that GE CEO Jeff Immelt personally ordered MSNBC to remove Keith Olbermann after a host of shareholder complaints—a charge NBC and Olbermann deny...
General Electric Co. expects its business in China to double to $10 billion a year by 2010, as the U.S. industrial giant aims to overcome a sputtering U.S. economy by ramping up its emerging-markets focus...
NBC Universal in pact for Google to sell its TV ads
NBC Universal, a unit of General Electric Co, is teaming up with Google Inc on a multi-year partnership in which Google will act as a broker to sell TV advertising on some NBC cable channels. In a joint statement, the two companies said NBC Universal will offer advertising time from several of its cable networks for Google to sell advertising through its Google TV Ads service.
Google to broker ads for cable TV channels
Financial terms of the deal were not disclosed. Google said in a prepared statement that its TV Ads platform will begin selling inventory for channels including Oxygen, CNBC, Sci Fi, Sleuth and Chiller "in the coming months, with potential to expand onto other NBCU properties in the future."...
Duke Energy Buys GE Wind Turbines For Undisclosed Sum
Duke Energy Corp. (DUK), said it agreed to buy 100 wind turbines from General Electric Co. (GE) for an undisclosed sum. Duke, which has been investing in its wind-energy business, also announced a long-term agreement to sell 99 megawatts of electricity from its new Wyoming wind farm. Terms of the deal weren't disclosed....
General Electric gets $120.2M Navy deal
A division of General Electric Co. received a $120.2 million contract boost from the Naval Air Systems Command. The contract covers 30 engines for the F/A-18E/F aircraft, plus 24 devices kits and 19 various modules for the Royal Australian Air Force, the Pentagon said late Monday....
GE Oil & Gas' PII Pipeline Solutions Division Signs Pipeline Integrity Services Distribution Agreement In Colombia
GE Oil & Gas' PII Pipeline Solutions division has signed a pipeline integrity services distributor agreement with Tecnicontrol S.A., in Colombia, as part of GE's strategy to strengthen its pipeline integrity services in South America....
Saudi Air Force adds to GE Aviation engine order
The Royal Saudi Air Force has added 91 F110-GE-129C engines to a previous order for its military aircraft, GE Aviation said Tuesday. With the latest order, the Saudis plan to upgrade 41 twin-engine Boeing F-15S aircraft, according to a news release. They had previously ordered 65 F110 engines to upgrade 29 of the aircraft...
MSNBC Bags "Fighting Anchors" Strategy, Dumps Olbermann And Matthews
Keith Olbermann and Chris Matthews, MSNBC's on-air political duo covering this year's primaries, debates and conventions, have never had the best on-air rapport. But at the Democratic National Convention, the animosity had reached a boiling point (see video below), so MSNBC decided to replace their contentious duo with seasoned and seemingly even-tempered political reporter: David Gregory...
Did GE CEO Jeff Immelt Order Keith Olbermann Demotion?
Rumor has it that GE CEO Jeff Immelt personally ordered MSNBC to remove Keith Olbermann after a host of shareholder complaints—a charge NBC and Olbermann deny...
Thursday, September 4, 2008
Recent News: NBC, Blue Chips, and Nuke Deal
General Electric (GE) NewsBite - GE Not Ready to Give Up NBC
General Electric (NYSE: GE) opened at $28.54. So far today, the stock has hit a low of $28.53 and a high of $28.95. GE is now trading at $28.94, up $0.84 (2.98%). Over the last 52 weeks the stock has ranged from a low of $25.60 to a high of $42.15. Shares of GE are trading higher this morning on news that company CEO Jeffrey Immelt has said that he will not sell the company's...
Survival Bets on Blue Chips
It is hard to recall a time when the shares of so many onetime U.S. stock market stalwarts have come to resemble little more than options on survivability. But investors -- for the most part quite rightly -- seem to have thrown aside the fundamental measures that not so long ago underpinned the value of these now-faded blue chips...
General Electric likely to hold onto NBC - Vivendi CEO
General Electric (NYSE: GE - option chain) shares are soaring higher today due to a number of factors such as sinking oil futures, but also on comments from Vivendi CEO Jean-Bernard Levy. Levy said in an interview with the Financial Times that he has heard GE CEO Jeffrey Immelt say several times both privately and publicly that GE has no intention of selling its 80% of NBC Universal. Levy may have more information that the average investor on this matter since Vivendi owns the remaining 20% of NBC...
General Electric concerned over time constraints for nuke deal
A delayed Nuclear Suppliers Group (NSG) approval for the Indo-US nuke deal could be bad news for US reactor manufacturers eyeing the Indian atomic power space. With opposition within the 45-member NSG for an India-specific waiver refusing to die down, US companies run the risk of losing out on the first set of contracts on offer in India to potential competitors from other countries....
General Electric (NYSE: GE) opened at $28.54. So far today, the stock has hit a low of $28.53 and a high of $28.95. GE is now trading at $28.94, up $0.84 (2.98%). Over the last 52 weeks the stock has ranged from a low of $25.60 to a high of $42.15. Shares of GE are trading higher this morning on news that company CEO Jeffrey Immelt has said that he will not sell the company's...
Survival Bets on Blue Chips
It is hard to recall a time when the shares of so many onetime U.S. stock market stalwarts have come to resemble little more than options on survivability. But investors -- for the most part quite rightly -- seem to have thrown aside the fundamental measures that not so long ago underpinned the value of these now-faded blue chips...
General Electric likely to hold onto NBC - Vivendi CEO
General Electric (NYSE: GE - option chain) shares are soaring higher today due to a number of factors such as sinking oil futures, but also on comments from Vivendi CEO Jean-Bernard Levy. Levy said in an interview with the Financial Times that he has heard GE CEO Jeffrey Immelt say several times both privately and publicly that GE has no intention of selling its 80% of NBC Universal. Levy may have more information that the average investor on this matter since Vivendi owns the remaining 20% of NBC...
General Electric concerned over time constraints for nuke deal
A delayed Nuclear Suppliers Group (NSG) approval for the Indo-US nuke deal could be bad news for US reactor manufacturers eyeing the Indian atomic power space. With opposition within the 45-member NSG for an India-specific waiver refusing to die down, US companies run the risk of losing out on the first set of contracts on offer in India to potential competitors from other countries....
Monday, September 1, 2008
Recent News: Olympics, China, Locomotives, Dividend, Virgin Blue Airlines, Pickens Plan TV ad
The Rewards of Olympic Hospitality
For General Electric Co., being a big Olympic sponsor isn't only about generating revenue and buffing its public image. The Fairfield, Conn., company also sees Beijing as an exotic venue for wining and dining top-performing employees and important clients. General Electric is hosting 2,000 customers and other guests from around the world in Beijing during the Games, inviting them to meals and offering tickets to Olympic events and sightseeing trips. Chairman and Chief Executive Jeffrey Immelt and other senior executives are among those playing host, according to GE spokeswoman Deirdre Latour.
China to get first of 300 GE locomotives by end-Aug
General Electric Co said on Thursday it would deliver the first of 300 advanced locomotives to China by the end of August, with the remainder arriving by mid 2010...
GE Board Authorizes Regular Quarterly Dividend 31c
The Board of Directors of General Electric Company authorized a regular quarterly dividend of $0.31 per outstanding share of the Company's common stock. The dividend is payable October 27, 2008 to shareowners of record at the close of business on September 22, 2008. The ex-dividend date is September 18, 2008...
GE's Making All the Right Moves
Earlier this week, I wrote that with market conditions being what they are, Fools might revisit the largest U.S. company, ExxonMobil (NYSE: XOM). It therefore may seem like a systematic traipse down Market Cap Lane when I suggest that No. 2 General Electric (NYSE: GE) also deserves more than a passing gander. The past year hasn't been an especially happy one for the General. With Mr. Market anything but stable, its shares have declined by about a quarter to around $29. And if you take the time to skim the company's second-quarter earnings release...
Will Olympic Coverage Score General Electric a Gold?
Every 4 years, the greatest athletes in the world gather to put on an athletic spectacle worthy of the gods residing on Mt. Olympus, giving us the name of this athletic extravaganza: The Olympics. Many things have changed from the original Olympic Games; women are allowed to watch and compete, there are Summer and Winter Games, the competitors wear clothes, and you can watch the competition on television and via the Internet ... thanks to General Electric. Yes, General Electric – remember folks, that this conglomerate is the parent company of NBC....
GE Locates China Headquarters In Shanghai
General Electric announced that its China Technology Park in Shanghai's Zhangjiang Hi-Tech Park has been formally completed and it will become GE's headquarters in China...
GE's Olympic Score
Well, the Olympics are over, and Michael Phelps may be going home with eight gold medals, but he might as well start receiving GE dividends. The extraordinary swimmer helped to fuel Olympic mania, sending viewership of the peacock network, which is owned by conglomerate General Electric, soaring. In the end, the Beijing Olympics were the most-watched event in TV history, according to Nielsen Media Research. Olympics watching surpassed executives’ “wildest expectations” and drew in more viewers than the games in either Sydney or Athens...
Virgin Blue inks engine maintenance deal with GE
Virgin Blue inked a maintenance and overhaul agreement with GE for the Australian carrier's CFM International CFM56-7B engines...
NBC approves Pickens' "Iran" ad after complaint
NBC Universal approved an advertisement by T. Boone Pickens entitled "Iran" which questions U.S. dependence on foreign oil, after the oil tycoon complained that the network had rejected it...
For General Electric Co., being a big Olympic sponsor isn't only about generating revenue and buffing its public image. The Fairfield, Conn., company also sees Beijing as an exotic venue for wining and dining top-performing employees and important clients. General Electric is hosting 2,000 customers and other guests from around the world in Beijing during the Games, inviting them to meals and offering tickets to Olympic events and sightseeing trips. Chairman and Chief Executive Jeffrey Immelt and other senior executives are among those playing host, according to GE spokeswoman Deirdre Latour.
China to get first of 300 GE locomotives by end-Aug
General Electric Co said on Thursday it would deliver the first of 300 advanced locomotives to China by the end of August, with the remainder arriving by mid 2010...
GE Board Authorizes Regular Quarterly Dividend 31c
The Board of Directors of General Electric Company authorized a regular quarterly dividend of $0.31 per outstanding share of the Company's common stock. The dividend is payable October 27, 2008 to shareowners of record at the close of business on September 22, 2008. The ex-dividend date is September 18, 2008...
GE's Making All the Right Moves
Earlier this week, I wrote that with market conditions being what they are, Fools might revisit the largest U.S. company, ExxonMobil (NYSE: XOM). It therefore may seem like a systematic traipse down Market Cap Lane when I suggest that No. 2 General Electric (NYSE: GE) also deserves more than a passing gander. The past year hasn't been an especially happy one for the General. With Mr. Market anything but stable, its shares have declined by about a quarter to around $29. And if you take the time to skim the company's second-quarter earnings release...
Will Olympic Coverage Score General Electric a Gold?
Every 4 years, the greatest athletes in the world gather to put on an athletic spectacle worthy of the gods residing on Mt. Olympus, giving us the name of this athletic extravaganza: The Olympics. Many things have changed from the original Olympic Games; women are allowed to watch and compete, there are Summer and Winter Games, the competitors wear clothes, and you can watch the competition on television and via the Internet ... thanks to General Electric. Yes, General Electric – remember folks, that this conglomerate is the parent company of NBC....
GE Locates China Headquarters In Shanghai
General Electric announced that its China Technology Park in Shanghai's Zhangjiang Hi-Tech Park has been formally completed and it will become GE's headquarters in China...
GE's Olympic Score
Well, the Olympics are over, and Michael Phelps may be going home with eight gold medals, but he might as well start receiving GE dividends. The extraordinary swimmer helped to fuel Olympic mania, sending viewership of the peacock network, which is owned by conglomerate General Electric, soaring. In the end, the Beijing Olympics were the most-watched event in TV history, according to Nielsen Media Research. Olympics watching surpassed executives’ “wildest expectations” and drew in more viewers than the games in either Sydney or Athens...
Virgin Blue inks engine maintenance deal with GE
Virgin Blue inked a maintenance and overhaul agreement with GE for the Australian carrier's CFM International CFM56-7B engines...
NBC approves Pickens' "Iran" ad after complaint
NBC Universal approved an advertisement by T. Boone Pickens entitled "Iran" which questions U.S. dependence on foreign oil, after the oil tycoon complained that the network had rejected it...
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.
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: Olympic Coverage
GE Use Taxis At Olympics
General Electric (GE), is using Beijing taxi cabs as a way to promote its green credentials at the Chinese Olympic games. More than 1,000 screens have been installed in the back of taxis which are running interactive ...
Will GE get rid of NBC Universal following a strong Olympics?
According to The Wall Street Journal, "More viewers tuned in to watch the first two prime-time Olympics telecasts on General Electric Co.'s NBC network than any summer Games in a decade -- even as the Games received record attention on the Internet."...
NBC's Olympics coverage boosts General Electric in China
General Electric Co. is poised to capture some gold from the 2008 Olympic Games in Beijing. The Fairfield, Conn.-based company, parent of NBC Universal, said Monday that the Olympics would generate at least $1.7 billion in revenue from advertising time and sales of GE industrial products that have been incorporated into Olympic venues. Profit could be more than $150 million...
GE exceeds target for Games-related sales
General Electric Co. said sales related to the Beijing 2008 Olympic Games topped its $1.7 billion (U.S.) goal on record-setting advertising revenue and work on venues that include the National Stadium, known as the "Bird's Nest."...
GE says Olympics generating big revenue for co.
General Electric Co. said Monday it expects to generate $700 million in revenue from 400 infrastructure projects that it has been doing in and around Beijing, the site of this year's Summer Olympics....
Market Report -- In Play (GE)
General Electric surpasses $1.7 bln in company-wide sales revenues for the Beijing 2008 Olympic games Co announces it has exceeded its sales goal for the Beijing 2008 Olympic Games, winning 400 infrastructure projects in and around Beijing that will generate $700 mln in revenues. NBC Universal has also generated a record of more than $1 bln in advertising revenues....
General Electric (GE), is using Beijing taxi cabs as a way to promote its green credentials at the Chinese Olympic games. More than 1,000 screens have been installed in the back of taxis which are running interactive ...
Will GE get rid of NBC Universal following a strong Olympics?
According to The Wall Street Journal, "More viewers tuned in to watch the first two prime-time Olympics telecasts on General Electric Co.'s NBC network than any summer Games in a decade -- even as the Games received record attention on the Internet."...
NBC's Olympics coverage boosts General Electric in China
General Electric Co. is poised to capture some gold from the 2008 Olympic Games in Beijing. The Fairfield, Conn.-based company, parent of NBC Universal, said Monday that the Olympics would generate at least $1.7 billion in revenue from advertising time and sales of GE industrial products that have been incorporated into Olympic venues. Profit could be more than $150 million...
GE exceeds target for Games-related sales
General Electric Co. said sales related to the Beijing 2008 Olympic Games topped its $1.7 billion (U.S.) goal on record-setting advertising revenue and work on venues that include the National Stadium, known as the "Bird's Nest."...
GE says Olympics generating big revenue for co.
General Electric Co. said Monday it expects to generate $700 million in revenue from 400 infrastructure projects that it has been doing in and around Beijing, the site of this year's Summer Olympics....
Market Report -- In Play (GE)
General Electric surpasses $1.7 bln in company-wide sales revenues for the Beijing 2008 Olympic games Co announces it has exceeded its sales goal for the Beijing 2008 Olympic Games, winning 400 infrastructure projects in and around Beijing that will generate $700 mln in revenues. NBC Universal has also generated a record of more than $1 bln in advertising revenues....
Saturday, August 9, 2008
Recent News: GE Energy Olympics, Spanish Solar, GE Capital, Haier, Investors Misled, Appliance Buyers, Jack Welch, GE Aviation, T. Boone Pickens, NBC
GE Energy to Provide Services for Beijing Power Plant That Will Supply Power for Beijing 2008 Olympic Games
GE Energy will provide long-term services for a new power plant that will supply electricity for the Beijing 2008 Olympic Games, as well as heat and power for the city of Beijing in the future...
GE buys 32 pct of Spanish solar energy firm
Spanish solar power company Fotowatio said on Friday that General Electric's Energy Financial Services unit had bought 32 percent of the company for 150 million euros ($233.5 million)....
GE Capital Completes Acquisition of Most of CitiCapital
GE Capital today announced the completion of its acquisition of most of CitiCapital, Citigroup's North American commercial leasing and commercial equipment finance business, adding $13.2 billion in assets...
Haier Eyes GE Appliance Unit as It Seeks Acquisitions
Haier Group Corp., China's largest maker of refrigerators and air conditioners, is looking at General Electric Co.'s appliance arm and other ``opportunities'' as it seeks acquisitions overseas...
Suit claims GE misled investors in first quarter
Two shareholders of General Electric Co. have filed suit in federal court in Connecticut, accusing the conglomerate of failing to disclose deteriorating business conditions during the first quarter in what they said amounted to securities fraud...
GE Executive: Still In Talks With Possible Appliance Unit Buyers
General Electic Co. (GE) is still in talks with possible buyers of its appliance business, but will most likely spin it off along with the company's consumer and industrial division, GE International Chief Executive Ferdinando Beccalli-Falco said Monday...
The success story of Jack Welch
He is one of the world's most admired and influential business leaders. A business strategist with a great vision, his business philosophy is a lesson for businesses across the globe. Meet Jack Welch who served as chairman and CEO of General Electric (GE) from 1981-2001. He transformed an ailing organization into one of the world's best companies...
GE Aviation wins $730M deal from Air One
Italian airline Air One SpA has ordered engines and signed an agreement with GE Aviation that add up to more than $730 million, the engine maker announced Monday...
GE Struggles but Signs T. Boone Pickens Deal
General Electric (GE: NYSE) has had a tough couple of months, with the stock falling to about $26 per share. It has made up some lost ground and has been trading around $28.50 for the past few days or so. It's a challenge to know what it will do in the short-term...
GE investors see post-Olympics NBC sale unlikely
After more than a year of Wall Street chatter that General Electric Co. would sell its NBC Universal media unit after broadcasting the Beijing Olympics, investors now say such a move seems unlikely....
GE pushes Beijing Olympics sponsorship
General Electric (GE) is launching a global campaign to promote its sponsorship of the Beijing Olympics. It breaks to coincide with the opening ceremony later today (August 8)...
GE Energy will provide long-term services for a new power plant that will supply electricity for the Beijing 2008 Olympic Games, as well as heat and power for the city of Beijing in the future...
GE buys 32 pct of Spanish solar energy firm
Spanish solar power company Fotowatio said on Friday that General Electric's Energy Financial Services unit had bought 32 percent of the company for 150 million euros ($233.5 million)....
GE Capital Completes Acquisition of Most of CitiCapital
GE Capital today announced the completion of its acquisition of most of CitiCapital, Citigroup's North American commercial leasing and commercial equipment finance business, adding $13.2 billion in assets...
Haier Eyes GE Appliance Unit as It Seeks Acquisitions
Haier Group Corp., China's largest maker of refrigerators and air conditioners, is looking at General Electric Co.'s appliance arm and other ``opportunities'' as it seeks acquisitions overseas...
Suit claims GE misled investors in first quarter
Two shareholders of General Electric Co. have filed suit in federal court in Connecticut, accusing the conglomerate of failing to disclose deteriorating business conditions during the first quarter in what they said amounted to securities fraud...
GE Executive: Still In Talks With Possible Appliance Unit Buyers
General Electic Co. (GE) is still in talks with possible buyers of its appliance business, but will most likely spin it off along with the company's consumer and industrial division, GE International Chief Executive Ferdinando Beccalli-Falco said Monday...
The success story of Jack Welch
He is one of the world's most admired and influential business leaders. A business strategist with a great vision, his business philosophy is a lesson for businesses across the globe. Meet Jack Welch who served as chairman and CEO of General Electric (GE) from 1981-2001. He transformed an ailing organization into one of the world's best companies...
GE Aviation wins $730M deal from Air One
Italian airline Air One SpA has ordered engines and signed an agreement with GE Aviation that add up to more than $730 million, the engine maker announced Monday...
GE Struggles but Signs T. Boone Pickens Deal
General Electric (GE: NYSE) has had a tough couple of months, with the stock falling to about $26 per share. It has made up some lost ground and has been trading around $28.50 for the past few days or so. It's a challenge to know what it will do in the short-term...
GE investors see post-Olympics NBC sale unlikely
After more than a year of Wall Street chatter that General Electric Co. would sell its NBC Universal media unit after broadcasting the Beijing Olympics, investors now say such a move seems unlikely....
GE pushes Beijing Olympics sponsorship
General Electric (GE) is launching a global campaign to promote its sponsorship of the Beijing Olympics. It breaks to coincide with the opening ceremony later today (August 8)...
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...
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...
Thursday, July 24, 2008
Recent News: Jack Welch, Olympics, GE Aviation, and NBC Universal
Judging Ge's Jack Welch
One of the big problems that most of us have in life is that we never get to read our own obituaries, which would be our best chance to see people saying nice things about us. But high-profile corporate chieftains who announce their departures don't have this problem. They get to hear all that nice stuff while they're still around, because retirement stories strongly resemble obits, except that the subject is still alive and kicking. As witness the gushing and slobbering over General Electric chairman Jack Welch last week after he mentioned on a TV show that he plans to retire in April 2001...
GE Goes For The Gold
For years investors have been asking why General Electric owns NBC Universal, and GE has been making the case that despite having little to do with the rest of the business, the network was a one-of-a-kind asset worth hanging on to....
GE Aviation enters fast-growing industry segment with purchase of Czech turboprop engine maker
General Electric's aviation unit said Thursday it bought a Czech company that will help it make inroads into the fast-growing market for small twin-engine turboprop aircraft. GE Aviation said it purchased Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry...
Immelt Defends GE's Wide Reach
Unlike three months ago, when GE announced an unexpected 5.9% drop in first-quarter earnings just weeks after Mr. Immelt had issued sunnier projections, he has told investors to expect relatively flat second-quarter results and profit growth of zero to 5% for 2008. He blames the credit crisis and a difficult economic time....
NBC Universal Clinches Deal to Buy Weather Channel
Long before April’s rare earnings miss at General Electric, which ramped up some analysts’ calls for the industrial conglomerate to sell off some of its businesses, many on Wall Street have scratched their heads over NBC Universal, GE’s media and entertainment arm. Some have called for the company, whose booming infrastructure business can seem like an odd fit with a TV network and movie studio, to spin off the peacock part of the portfolio....
Will GE get out of hot water by selling NBC to Time Warner?
General Electric (NYSE:GE), which reports earnings tomorrow, has indicated that it may spin-off its weakest divisions -- the firm's consumer and industrial units. No one cared, and the stock did not move. The action would not be enough, nearly enough to pull GE away from its multi-year lows....
GE Aviation to supply parts for Gulfstream G650
A unit of General Electric Co. said Monday it will supply parts for Gulfstream Aircraft Corp.'s G650 business jet in a deal worth potentially more than $100 million.
GE Aviation said it will supply the secondary power distribution system and APU door actuation system for the Gulfstream jet....
FlyDubai orders CFM56-7B engines
General Electric Company announced on Monday (15 July) that FlyDubai, a new low-cost carrier from the government of Dubai, UAE, has ordered 50 CFM56-7B-powered Boeing Next-Generation 737-800 and 737-900 aircraft. The CFM56-7B is a product of CFM International (CFM), a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company...
Airworthiness Directives; General Electric Company (GE) CT58 Series Turboshaft Engines
The FAA proposes to adopt a new airworthiness directive (AD) for certain GE CT58 series turboshaft engines. This proposed AD would require recalculating the lives of certain part numbered compressor spools using a new repetitive heavy lift (RHL) multiplying factor. This proposed AD results from reports of cracks originating from the inner faces of the locking screw holes in the compressor spool. We are proposing this AD to prevent cracks due to RHL missions. Cracks could result in an uncontained rotor burst and damage to, or loss of, the helicopter and serious injuries to any person onboard...
One of the big problems that most of us have in life is that we never get to read our own obituaries, which would be our best chance to see people saying nice things about us. But high-profile corporate chieftains who announce their departures don't have this problem. They get to hear all that nice stuff while they're still around, because retirement stories strongly resemble obits, except that the subject is still alive and kicking. As witness the gushing and slobbering over General Electric chairman Jack Welch last week after he mentioned on a TV show that he plans to retire in April 2001...
GE Goes For The Gold
For years investors have been asking why General Electric owns NBC Universal, and GE has been making the case that despite having little to do with the rest of the business, the network was a one-of-a-kind asset worth hanging on to....
GE Aviation enters fast-growing industry segment with purchase of Czech turboprop engine maker
General Electric's aviation unit said Thursday it bought a Czech company that will help it make inroads into the fast-growing market for small twin-engine turboprop aircraft. GE Aviation said it purchased Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry...
Immelt Defends GE's Wide Reach
Unlike three months ago, when GE announced an unexpected 5.9% drop in first-quarter earnings just weeks after Mr. Immelt had issued sunnier projections, he has told investors to expect relatively flat second-quarter results and profit growth of zero to 5% for 2008. He blames the credit crisis and a difficult economic time....
NBC Universal Clinches Deal to Buy Weather Channel
Long before April’s rare earnings miss at General Electric, which ramped up some analysts’ calls for the industrial conglomerate to sell off some of its businesses, many on Wall Street have scratched their heads over NBC Universal, GE’s media and entertainment arm. Some have called for the company, whose booming infrastructure business can seem like an odd fit with a TV network and movie studio, to spin off the peacock part of the portfolio....
Will GE get out of hot water by selling NBC to Time Warner?
General Electric (NYSE:GE), which reports earnings tomorrow, has indicated that it may spin-off its weakest divisions -- the firm's consumer and industrial units. No one cared, and the stock did not move. The action would not be enough, nearly enough to pull GE away from its multi-year lows....
GE Aviation to supply parts for Gulfstream G650
A unit of General Electric Co. said Monday it will supply parts for Gulfstream Aircraft Corp.'s G650 business jet in a deal worth potentially more than $100 million.
GE Aviation said it will supply the secondary power distribution system and APU door actuation system for the Gulfstream jet....
FlyDubai orders CFM56-7B engines
General Electric Company announced on Monday (15 July) that FlyDubai, a new low-cost carrier from the government of Dubai, UAE, has ordered 50 CFM56-7B-powered Boeing Next-Generation 737-800 and 737-900 aircraft. The CFM56-7B is a product of CFM International (CFM), a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company...
Airworthiness Directives; General Electric Company (GE) CT58 Series Turboshaft Engines
The FAA proposes to adopt a new airworthiness directive (AD) for certain GE CT58 series turboshaft engines. This proposed AD would require recalculating the lives of certain part numbered compressor spools using a new repetitive heavy lift (RHL) multiplying factor. This proposed AD results from reports of cracks originating from the inner faces of the locking screw holes in the compressor spool. We are proposing this AD to prevent cracks due to RHL missions. Cracks could result in an uncontained rotor burst and damage to, or loss of, the helicopter and serious injuries to any person onboard...
Sunday, June 29, 2008
Recent News: NBC, GE Energy, CEO Hot Seat, Digital Microscope, and Solar
NBC sells $1.9 billion in 'upfront' ads
NBC Television has sold about $1.9 billion in advertising sales for the fall season, the first broadcaster to sell nearly all of its available commercials during the annual "upfront" period, a source familiar with the situation confirmed Friday....
GE shares in $1B Algerian power plant contract
A partnership that includes a unit of conglomerate General Electric Co. has received a contract worth nearly $1 billion to build a new power plant in Algeria. GE Energy and its partner, Algerian electric company Shariket Karhaba Koudiet Eddraouch Spa, received the contract for the 1,200-megawatt gas-turbine power plant....
Time Warner says no agenda for NBC deal
Media conglomerate Time Warner Inc said on Monday it has no agenda regarding buying General Electric Co's NBC Universal but it would consider the matter if the unit came up for sale.
"We don't need to or have a particular agenda with regard to those networks," Time Warner Chief Executive Jeffrey Bewkes said in response to a question at a Deutsche Bank media and telecom conference. "We'd have to look at that if and when it came up."
CEO’s on the Hot Seat: LEH, JAVA, GE
It’s all about managing expectations well and staying credible in the eye of the public, which unfortunately these top management folks haven’t done...
GE Energy buys Dallas-based mobile mapping firm
GE Energy, a unit of conglomerate General Electric Co., said Wednesday it will buy MapFrame, a Dallas-based provider of mobile mapping services, in a move to expand its utility transmission and distribution portfolio....
Digital microscope could be $500 mln business-GE
A General Electric Co joint venture to develop a device to allow doctors to view tissue samples from patients on computer monitors rather than using microscopes could be generating $500 million in annual revenue within the next decade, the head of the venture said....
GE Energy buys majority share in PrimeStar Solar
GE Energy has increased its equity share in PrimeStar Solar, becoming the majority shareholder in the solar thin-film technology and manufacturing company. GE Energy had held a minority equity share in the company since September 2007....
NBC Television has sold about $1.9 billion in advertising sales for the fall season, the first broadcaster to sell nearly all of its available commercials during the annual "upfront" period, a source familiar with the situation confirmed Friday....
GE shares in $1B Algerian power plant contract
A partnership that includes a unit of conglomerate General Electric Co. has received a contract worth nearly $1 billion to build a new power plant in Algeria. GE Energy and its partner, Algerian electric company Shariket Karhaba Koudiet Eddraouch Spa, received the contract for the 1,200-megawatt gas-turbine power plant....
Time Warner says no agenda for NBC deal
Media conglomerate Time Warner Inc said on Monday it has no agenda regarding buying General Electric Co's NBC Universal but it would consider the matter if the unit came up for sale.
"We don't need to or have a particular agenda with regard to those networks," Time Warner Chief Executive Jeffrey Bewkes said in response to a question at a Deutsche Bank media and telecom conference. "We'd have to look at that if and when it came up."
CEO’s on the Hot Seat: LEH, JAVA, GE
It’s all about managing expectations well and staying credible in the eye of the public, which unfortunately these top management folks haven’t done...
GE Energy buys Dallas-based mobile mapping firm
GE Energy, a unit of conglomerate General Electric Co., said Wednesday it will buy MapFrame, a Dallas-based provider of mobile mapping services, in a move to expand its utility transmission and distribution portfolio....
Digital microscope could be $500 mln business-GE
A General Electric Co joint venture to develop a device to allow doctors to view tissue samples from patients on computer monitors rather than using microscopes could be generating $500 million in annual revenue within the next decade, the head of the venture said....
GE Energy buys majority share in PrimeStar Solar
GE Energy has increased its equity share in PrimeStar Solar, becoming the majority shareholder in the solar thin-film technology and manufacturing company. GE Energy had held a minority equity share in the company since September 2007....
Saturday, June 28, 2008
Recent News: Wind, Insider Buying, Iraq, NBC, Australia Mortgage, and Dividends
enXco To Buy 200 GE Wind Turbines
enXco--an EDF Energies Nouvelles company--announced its second agreement in recent months with GE Energy to purchase turbines for new wind projects. Under the agreement, enXco will purchase 200 turbines representing 300 megawatts (MW) of electricity-producing capacity from GE Wind...
Who's Buying Now?
It's time once again to check out the week's most interesting insider purchases. After reading through numerous filings using insider tracking tool Form 4 Oracle, here are my top five today...
Iraq signs $480 mln contract with GE for power plants
Iraq has signed a contract with General Electric Co worth $480 million to build three power plants and is negotiating with Hyundai to buy diesel generators, the country's electricity minister said on Friday....
GE's NBC unit sells out nearly all TV ads for fall season
General Electric Co.'s NBC-TV unit scored a first in the annual network upfront ad sales game by selling out nearly all its inventory for the coming fall season, The Wall Street Journal reported Friday. The peacock network has secured commitments for about $1.9 billion in prime-time advertising, people close to the network told the newspaper. The fourth-place network had to sell more of its pre-season ad inventory than last year, rather than saving inventory for the shorter-term spot market, which can be more lucrative...
GE to sell Australian mortgage business
General Electric has appointed JP Morgan and Citigroup to manage the possible sale of its Australian mortgage business, a spokesman for GE Money Australia said on Friday. Wizard Home Loans, which GE bought from its founder Mark Bouris in 2004 for about $481 million, is a non-bank lender with some 250 branches....
Pentair, GE may link water businesses
Among the scores of water-technology companies around Milwaukee, one stands out for its size: Pentair Inc. has 1,450 employees at three local subsidiaries. Pentair is ready to expand further. It's negotiating with rival General Electric Co. to combine their respective residential water-treatment businesses into a joint venture with most of the research, development and global production working together at existing Pentair and GE sites around Milwaukee.
GE Declares 31 Cent Dividend
General Electric's board has authorized a regular quarterly dividend of $0.31 per outstanding share of the company's common stock. The dividend is payable on July 25 to shareowners of record at the close of business on June 23...
enXco--an EDF Energies Nouvelles company--announced its second agreement in recent months with GE Energy to purchase turbines for new wind projects. Under the agreement, enXco will purchase 200 turbines representing 300 megawatts (MW) of electricity-producing capacity from GE Wind...
Who's Buying Now?
It's time once again to check out the week's most interesting insider purchases. After reading through numerous filings using insider tracking tool Form 4 Oracle, here are my top five today...
Iraq signs $480 mln contract with GE for power plants
Iraq has signed a contract with General Electric Co worth $480 million to build three power plants and is negotiating with Hyundai to buy diesel generators, the country's electricity minister said on Friday....
GE's NBC unit sells out nearly all TV ads for fall season
General Electric Co.'s NBC-TV unit scored a first in the annual network upfront ad sales game by selling out nearly all its inventory for the coming fall season, The Wall Street Journal reported Friday. The peacock network has secured commitments for about $1.9 billion in prime-time advertising, people close to the network told the newspaper. The fourth-place network had to sell more of its pre-season ad inventory than last year, rather than saving inventory for the shorter-term spot market, which can be more lucrative...
GE to sell Australian mortgage business
General Electric has appointed JP Morgan and Citigroup to manage the possible sale of its Australian mortgage business, a spokesman for GE Money Australia said on Friday. Wizard Home Loans, which GE bought from its founder Mark Bouris in 2004 for about $481 million, is a non-bank lender with some 250 branches....
Pentair, GE may link water businesses
Among the scores of water-technology companies around Milwaukee, one stands out for its size: Pentair Inc. has 1,450 employees at three local subsidiaries. Pentair is ready to expand further. It's negotiating with rival General Electric Co. to combine their respective residential water-treatment businesses into a joint venture with most of the research, development and global production working together at existing Pentair and GE sites around Milwaukee.
GE Declares 31 Cent Dividend
General Electric's board has authorized a regular quarterly dividend of $0.31 per outstanding share of the company's common stock. The dividend is payable on July 25 to shareowners of record at the close of business on June 23...
Recent News: Water, Appliances - LG, NBC - Weather Channel, GE Aviation, Global Growth, Ratings, Santander, and GE Energy Financial Services
GE eyes world's next big worry: water
Surging oil prices have captured the attention of consumers and leaders around the globe, but General Electric Co. is already on to what it thinks will be the world's next big worry -- water. The company said on Wednesday it aims to cut its water usage 20 percent by 2012, a move that should reduce its annual operating costs by $15 million to $20 million....
LG Electronics says no decision on possible GE appliance unit bid
LG Electronics Inc. said Wednesday it has made no decisions on a possible bid for General Electric Co.'s appliance unit....
LG is a leading contender to buy GE appliance unit
General Electric named LG Electronics of South Korea on Wednesday as one of the leading contenders to buy its appliance business, which is valued at $4 billion to $8 billion.
Major Asian appliance makers like Haier Electronics Group of China and LG have been cited as likely bidders since GE said earlier this month that it may part with its century-old appliances unit. The unit had 2007 revenues of $7.2 billion....
Suitors line up for GE appliances
General Electric (GE) has named four companies it says are interested in buying its household appliances unit. It cited LG Electronics, China's Haier, Mabe of Mexico and Arcelik of Turkey as possible bidders for the unit, whose products include fridges and toasters. The US industrial giant said last month that it was likely to stop making household appliances after more than a century in the business...
Report: NBC U (GE) Bidding $3.5 Billion For Weather Channel
When Landmark first put Weather Channel on the block in January, the asking price floated was $5 billion. Now the leading bidder for the cable channel and Web site, a consortium including NBC U (GE), Blackstone Group and Bain Capital, is offering $3.5 billion, roughly half of which, or $1.8 billion, is equity, according to Reuters. Blackstone's GSO Capital is also putting in $600 million....
Four communities in running for GE facility
A planned 400,000-square-foot, $75 million GE Aviation engineering facility will be located in one of four locations, possibly West Chester Twp. Just who winds up with the prize may come down to aggressive salesmanship. ExtrasGE spokesman Rick Kennedy said West Chester Twp., Evendale, Springdale and a location in Boone County, Ky., are the potential homes of a consolidated office that will house almost 1,600 GE Aviation employees with a total annual payroll of about $140 million....
Nippon Takes Delivery Of GE's 1st Upgraded CF6-80C2 Engine
Nippon Cargo Airlines recently took delivery of its first General Electric CF6-80C2 engines incorporating a new, high-pressure turbine upgrade. The turbine upgrade, part of GE's new Tech CF6 program, was installed in engines for the airline's new Boeing 747-400F aircraft. Nippon Cargo ordered four 747-400F aircraft, and the first was delivered today. The remaining three will be delivered between now and February 2009...
If GE Thinks Globally, Shouldn't You?
It's hard enough keeping tabs on suppliers and customers within your own area code. Networking and expanding overseas? That's for the big guys, right? Not necessarily. In the U.S., small businesses thrive in niches overlooked by the big corporations, and the same holds true in other countries. These days, as the American economy stumbles, looking beyond the U.S. may be the key to success....
General Electric shares could be a buy - Barron's
Shares of General Electric Co, the second largest U.S. company, have limited downside and investors can now make a better case for buying the stock, financial weekly Barron's reported in its June 2 edition....
GE, Santander finalize GE Money, Interbanca deal
General Electric Co. said on Monday its GE Commercial Finance unit finalized an agreement to acquire Banco Santander SA's Italian banking arm Interbanca, while the Spanish bank buys several GE Money businesses in Europe....
GE to seek partnerships in consumer credit segment in Italy
General Electric Co, after closing the deal to take over Interbanca SpA, is looking for further partnerships in Italy in the consumer credit segment, said Giuseppe Recchi, chairman of GE Italia in an interview with daily La Stampa....
GeoResources, GE unit team up on Oklahama reserves investment
GeoResources Inc. is teaming up with GE Energy Financial Services to invest up to $90.5 million to buy and develop proven producing oil and gas reserves in Oklahoma....
Surging oil prices have captured the attention of consumers and leaders around the globe, but General Electric Co. is already on to what it thinks will be the world's next big worry -- water. The company said on Wednesday it aims to cut its water usage 20 percent by 2012, a move that should reduce its annual operating costs by $15 million to $20 million....
LG Electronics says no decision on possible GE appliance unit bid
LG Electronics Inc. said Wednesday it has made no decisions on a possible bid for General Electric Co.'s appliance unit....
LG is a leading contender to buy GE appliance unit
General Electric named LG Electronics of South Korea on Wednesday as one of the leading contenders to buy its appliance business, which is valued at $4 billion to $8 billion.
Major Asian appliance makers like Haier Electronics Group of China and LG have been cited as likely bidders since GE said earlier this month that it may part with its century-old appliances unit. The unit had 2007 revenues of $7.2 billion....
Suitors line up for GE appliances
General Electric (GE) has named four companies it says are interested in buying its household appliances unit. It cited LG Electronics, China's Haier, Mabe of Mexico and Arcelik of Turkey as possible bidders for the unit, whose products include fridges and toasters. The US industrial giant said last month that it was likely to stop making household appliances after more than a century in the business...
Report: NBC U (GE) Bidding $3.5 Billion For Weather Channel
When Landmark first put Weather Channel on the block in January, the asking price floated was $5 billion. Now the leading bidder for the cable channel and Web site, a consortium including NBC U (GE), Blackstone Group and Bain Capital, is offering $3.5 billion, roughly half of which, or $1.8 billion, is equity, according to Reuters. Blackstone's GSO Capital is also putting in $600 million....
Four communities in running for GE facility
A planned 400,000-square-foot, $75 million GE Aviation engineering facility will be located in one of four locations, possibly West Chester Twp. Just who winds up with the prize may come down to aggressive salesmanship. ExtrasGE spokesman Rick Kennedy said West Chester Twp., Evendale, Springdale and a location in Boone County, Ky., are the potential homes of a consolidated office that will house almost 1,600 GE Aviation employees with a total annual payroll of about $140 million....
Nippon Takes Delivery Of GE's 1st Upgraded CF6-80C2 Engine
Nippon Cargo Airlines recently took delivery of its first General Electric CF6-80C2 engines incorporating a new, high-pressure turbine upgrade. The turbine upgrade, part of GE's new Tech CF6 program, was installed in engines for the airline's new Boeing 747-400F aircraft. Nippon Cargo ordered four 747-400F aircraft, and the first was delivered today. The remaining three will be delivered between now and February 2009...
If GE Thinks Globally, Shouldn't You?
It's hard enough keeping tabs on suppliers and customers within your own area code. Networking and expanding overseas? That's for the big guys, right? Not necessarily. In the U.S., small businesses thrive in niches overlooked by the big corporations, and the same holds true in other countries. These days, as the American economy stumbles, looking beyond the U.S. may be the key to success....
General Electric shares could be a buy - Barron's
Shares of General Electric Co, the second largest U.S. company, have limited downside and investors can now make a better case for buying the stock, financial weekly Barron's reported in its June 2 edition....
GE, Santander finalize GE Money, Interbanca deal
General Electric Co. said on Monday its GE Commercial Finance unit finalized an agreement to acquire Banco Santander SA's Italian banking arm Interbanca, while the Spanish bank buys several GE Money businesses in Europe....
GE to seek partnerships in consumer credit segment in Italy
General Electric Co, after closing the deal to take over Interbanca SpA, is looking for further partnerships in Italy in the consumer credit segment, said Giuseppe Recchi, chairman of GE Italia in an interview with daily La Stampa....
GeoResources, GE unit team up on Oklahama reserves investment
GeoResources Inc. is teaming up with GE Energy Financial Services to invest up to $90.5 million to buy and develop proven producing oil and gas reserves in Oklahoma....
