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)...

Recent News: GE Energy deal, Wind Turbines, Gas Turbines, and GE Security Abu Dhabi.

GE unit signs agreement to sell turbines valued at $700 million
GE Energy, a unit of General Electric Co., announced Thursday it has signed an agreement with an Austin, Texas-based energy company to sell wind power turbines valued at more than $700 million...

GE supplies turbines to RES
Austin, Texas-based wind developer Renewable Energy Systems (RES) Americas has signed agreements for over US$700 million to receive 1.5 megawatt wind turbines from GE Energy. The turbines will be used for projects in 2009 and 2010....

GE Energy Gets $700M Wind Turbines Order
GE Energy, General Electric Co.'s division that supplies power generation products, said Thursday it has signed a deal to provide Renewable Energy Systems Americas Inc. with wind turbines....

GE To Supply Its Most Advanced F-Class Technology For New Power Plant In Port Of Barcelona
GE Energy’s most advanced, F-class gas turbine technology has been selected for a new combined-cycle power plant that will serve the Port of Barcelona as well as help to meet the future requirements of the Spanish electricity grid....

GE’s Trotter elected to Textron board
Lloyd G. Trotter, who has announced his retirement as vice chairman of General Electric and president and CEO of the $28 billion GE Industries, has been elected to the board of directors of Textron Inc., effective March 1...

To G.E., a Chinese Olympics Is Just Made for a Global Message
SO, how do you say “Imagination at Work” in Chinese? Actually, that is easy enough to answer — just check the Chinese characters next to the General Electric logo in the ads on billboards, in newspapers and in airports throughout Beijing and Shanghai. With its “Imagination at Work” ad campaign into its fifth year, G.E. has the nuances of both the language and the concept down pat...

GE Security’s CTX 9000 DSi™ Explosives Detection System Delivered to Abu Dhabi International Airport
GE Security, Inc., a business of GE Enterprise Solutions (NYSE:GE), today announced its Homeland Protection business has sold and delivered two CTX 9000 DSi™ advanced technology explosives detection systems to Abu Dhabi International Airport...

Horizon Wind Energy Signs Wind Turbine Supply, Service Agreements With GE Energy
Horizon Wind Energy LLC, a leading wind project developer, has signed wind turbine supply and service agreements with GE Energy for future U.S. projects. Horizon also announced today the establishment of a regional headquarters in Albany, N.Y. to oversee its future projects in New York State and the Northeastern United States...

Recent News: Digital Cameras, Aircraft Engines, Spain Colonial, Navy Contract, and GE Oil & Gas

RadioShack Adds Two New Models to its GE Digital Camera Lineup
General Imaging, the worldwide exclusive licensee for GE-branded digital cameras, and RadioShack Corporation today announced the consumer electronics retailer will add two new models to its GE lineup...

Safran, GE to offer 'green' engine by 2015
engine manufacturing unit Snecma and its US partner General Electric should be ready to offer a 'green' aircraft engine by 2015, Snecma vice president commercial aircraft Francois Planaud said...

Two main Colonial shareholders agree to sell if ICD bids
The two main shareholders in Spanish property firm Colonial have agreed to sell their stakes to Dubai's sovereign wealth fund if it decides to bid, the Investment Corporation of Dubai said on Friday...

GE Unit Wins $193M Navy Contract
A unit of General Electric Co. received a $193 million contract to repair, replace and support engine components for Navy aircraft, the Defense Department said late Thursday...

Power Creative signs GE and ResCare divisions
Louisville-based advertising firm Power Creative has signed GE Security and ResCare HomeCare as clients, the firm announced....

Colonial rejects opening books to GE on confidentiality concerns - report UPDATE
Inmobiliaria Colonial SA has rejected opening its books to General Electric -- at least for the moment -- because it is not able to ensure confidentiality, Cinco Dias reported, citing unnamed sources....

Erdoğan meets with Sabancı, GE chairs
Prime Minister Recep Tayyip Erdoğan hosted a 45-minute meeting yesterday with General Electric CEO and Chairman Jeffrey R. Immelt and Sabancı Holding Chairman Güler Sabancı at his office in Ankara...

GE to supply compressor technologies to QAFCO
GE Oil & Gas has signed a letter of intent (LOI) the Qatar Fertilizer Company (QAFCO) for the supply of gas turbine and compressor technology...

Recent News: Superalloys, GE Energy in China, Romania, Cameras, GE Real Estate in Germany and Japan, Invenergy, and GE Commercial Finance

GE develops new superalloys to reduce use of rare rhenium
General Electric is about to begin engine testing of new nickel superalloys designed to reduce its use of rhenium, a rare metal that has increased 10-fold in price in recent years as demand has increased....

GE Energy Opens New Facility In Shanghai
The environmental services business of Atlanta-based GE Energy has established a new facility in Shanghai in order to better serve its customers in the area. The facility, which consolidates several operations at other locations, consists of 7,000 square meters of laboratories, office space and production facilities...

Metka, GE JV preferred bidders for Romania plant
Greek construction company Metka and its joint venture partner General Electric made the lowest bid to build a power station in Romania, the Greek company said on Wednesday...

UPDATE 1-Spain's Colonial opens books to GE
Spanish property firm Inmobiliaria Colonial said on Wednesday it had opened its books to GE Real Estate Iberia, a unit of GE, in preparation for a possible takeover bid...

GE announces second-gen cameras
General Electric has announced what will only be its second generation of digital cameras, due in the spring. All of them will feature blink and smile detection, delaying shots for the best expressions. At the top of the compacts will be the E series, led by the E1050 ($249), a 10-megapixel camera able to record 720p video at 30fps. Shooters can output the video to an HD display, and control various functions though a three-inch touchscreen. Its lens is capable of 5x optical zoom, and its light sensitivity extends to ISO 3200. An optional GPS receiver can geotag images...

GE Expands in Germany and Japan
Expanding its holdings on both sides of the globe, GE Real Estate has inked major deals in Europe and Asia. In a $98-million transaction, GE Real Estate Germany has acquired a portfolio of seven mixed-used assets from a private individual. And GE Real Estate in Japan has launched a new business to develop “Ecomagination” condos, in a partnership with Meiho Enterprise Co...

GE Energy announces $1B-plus agreement with Invenergy
...Under the deal, GE Energy, based in Atlanta, will deliver 400 of its 1.5 megawatt wind turbines to Chicago-based Invenergy for projects in North America, and 200 megawatts, or 80 turbines, for projects in Europe...

GE’s second round brings nine new cameras
Now that General Imaging has a year under its belt the company is more than doubling the lineup of digital cameras offering nine new models this year at PMA 2008. This brings the total count to 15 giving more options in features and pricing with the familiar GE branding...

Dayton Superior Extends Commitment From GE Commercial Finance For Debt Refinancing To February 29, 2008
Dayton Superior Corp. announced that it has extended its commitment from GE Commercial Finance for debt refinancing of $250 million to February 29, 2008. The company expects to complete refinancing prior to that date. The commitment consists of new $150 million revolving credit facility and a new $100 million term loan...

Recent News: Analyst notes on earnings, Jet Engine oreders in China, NBC, New Facility, GE Antares, Spain's Colonial, and GE Energy.

GE Poised to Gain, Analyst Says
Shares of General Electric Co. rose Tuesday, as an analyst remained upbeat about the company's fourth-quarter results and said the conglomerate should withstand a softening U.S. economy...

GE has $5B in Chinese jet-engine backlog
Industrial conglomerate General Electric Co. said Tuesday its backlog for jet engine orders in China has climbed to about $5 billion...

Felons On The Air: Does GE's Ownership of NBC Violate the Law?
General Electric's ownership of the NBC TV network has been in the news in recent months. As Extra! went to press, companies like Time Warner, Disney, ITT and Turner Broadcasting have reportedly been negotiating to either buy NBC outright or enter into some kind of partnership with GE. But a little-noted aspect of communications law raises questions about GE'sownership of NBC's broadcast licenses -- and its ability to sell those licenses to another company...

GE opens new Skaneateles Falls facility
GE Sensing & Inspection Technologies opened its new, $6-million Skaneateles Falls facility Monday. About 165 GE employees will be employed at the plant, which is located at 721 Visions Drive...

GE Antares Provides C$62MM Senior Secured Credit Facility to one of Largest Privately Owned Providers of Transportation and Logistics in Canada
GE Antares today announced it served as administrative agent for a C$62 million senior secured credit facility to support the acquisition of Consolidated Fastfrate Inc., Canada Drayage Inc., and Koch Transport (together, "Fastfrate") by Fenway Partners and management. The facility, consisting of a term loan and revolver, was used to complete the target acquisitions and provide for future working capital needs. GE Capital Markets Canada served as lead arranger...

GE Aviation: 2007 China jet engine orders top $1B at list prices
General Electric Co.'s GE (NYSE:GE) Aviation and CFM International, GE's 50/50 joint company with Safran Group of France, said Tuesday that combined jet engine orders in China in 2007 surpassed more than 420 engines...

Spain's Colonial says to consider GE bid
Spanish property firm Inmobiliaria Colonial said on Tuesday its board will meet on Wednesday to consider an unsolicited bid approach from GE Real Estate Iberia, a unit of GE...

GE Energy, Invenergy In 800 Megawatt Wind Turbine Pact
GE Energy agreed to supply Invenergy LLC with 800 megawatts of wind turbines, enough power to meet the requirements of 275,000 households, in a deal valued at more than $1 billion...

Recent News: NBC, Spain, Biffa, Foreign Growth, GE Energy, Earnings, and Plant Closure.

Strike doesn't dim GE's Q4
The bottom line at NBC Universal during the fourth quarter was not damaged by the writers strike, and the same should hold true this quarter...

GE Studies Offer For Spain' Inmobiliaria Colonial -Report
General Electric Co. (GE) is studying a possible takeover offer on Spain's Inmobiliaria Colonial SA (COL.MC), which might spark a bidding war with France's Gecina (1004086.FR) for the Spanish real-estate company, reports Expansion in its Monday Internet edition...

GE-backed group makes 1.5 bln stg bid for Biffa - report
An investment group backed by General Electric Co has made an approach worth 1.5 bln stg for British waste collection group Biffa PLC, The Sunday Telegraph reported...

Foreign Growth Boosts GE’s 2007 Earnings
For the first time, overseas growth and revenue compromised more than half of General Electric Co. fourth-quarter earnings...

GE stocks are great buy, to best market
America’s largest industrial conglomerate ought to be a fairly reliable barometer for the economy and stock market. But General Electric Co. looks more like a contrarian indicator. Its robust fourth quarter results vindicate boss Jeff Immelt’s reshuffling of the portfolio to focus on businesses that can outpace the US economy. With a fat order book and a triple-A credit rating, GE looks all set to outperform the market. After the US market’s worst three-day plunge in five years, investors in equities were desperate for some good news. GE obliged. The maker of turbines and light bulbs delivered 17% earnings growth in the fourth quarter and reaffirmed its guidance for at least 10% growth this year....

Biffa gets approach from GE-backed fund: report
British waste collection firm Biffa has received a counter-approach worth around 1.5 billion pounds ($3 billion) from the infrastructure fund of one of the world's largest companies, General Electric, according to the Sunday Telegraph newspaper...

GE Energy to showcase efficient energy technologies at World Future of Energy Summit in Abu Dhabi
GE Energy, a leading supplier of power generation and energy delivery technologies, is showcasing its range of cleaner, reliable and more efficient energy technologies at the World Future of Energy Summit to be held from January 21 to 23, 2008, at the Abu Dhabi Exhibition Centre. GE will exhibit...

Open Letter to Leno, Maher and G.E. from your Anti-Censorship "Disruptors"
On Tuesday, January 15th, four free speech/fair election patriots visited the set of The Tonight Show with Jay Leno (and guest, Bill Maher, who was coincidentally appearing), to voice their displeasure over NBC, MSNBC and parent company General Electric's refusal to allow Congressman Dennis Kucinich to debate his fellow Democrats in MSNBC's...

GE Earnings Report: Great Numbers, Short Sermon
GE reported record 4Q and Full-Year Results for 2007; 4Q EPS up 17%; 18% for the Year 4Q Orders of $27 billion, up 18%; 4Q Revenues of $48.6 billion, up 18%; Infrastructure Segment Profit up 26%; Global Revenues up 27%. Additionally, if that was not good enough, they reaffirmed 2008 guidance...

INSIDE INDIANA BUSINESS column: GE plans to shut Bloomington operations
General Electric has announced it expects to close its Bloomington plant by the fourth quarter of 2009. The company says 837 hourly and 59 salaried workers would be affected by the closure. The company claims the plant loses about $45 million each year because of declining side-by-side refrigerator sales and rising material and labor costs...

Recent News: Plant Closing, Economy, Earnings, GE Money, Ecomagination, GE Healthcare, and Biffa

GE plans to close Bloomington plant

General Electric said Thursday it plans to close its Bloomington refrigeration plant by the fourth quarter of 2009 due to losses of about $45 million last year and an expectation of similar losses this year...

GE brings market to life

A $600 or $800 check from the government won't pay for a jet engine or a power plant. But to the extent that GE is seen as a proxy for the broader economy, efforts to revive consumer confidence can only be beneficial to the company...

U.S. Stocks Decline, Led by Financial Shares; Sprint Tumbles
U.S. stocks fell, sending the Standard & Poor's 500 Index to its biggest weekly loss in five years, on concern President George W. Bush's $150 billion plan to revive the economy will fail to prevent a recession...

Local GE unit's 2007 profit rises 7 percent
General Electric Co. fourth-quarter net income rose to $6.7 billion, or 66 cents per share, from $6.4 billion, or 62 cents per share, a year ago...

GE Money Backup Tape With 650,000 Records Missing At Iron Mountain
Really, companies -- and Iron Mountain -- could do better. Iron Mountain can't find a backup tape belonging to GE Money that contains the personal information of some 650,000 customers of J.C. Penney and about 100 other retailers. GE Money handles credit card processing for the affected retailers...

GE to light up Land Tejas development
Land Tejas Cos., developer of Houston's Canyon Gate Communities, and General Electric have finalized an agreement to build Houston's first master-planned community to incorporate GE's ecomagination program...


Earnings roundup: Johnson Controls, GE
General Electric Co. delivered some cheer Friday to investors worried about a slowing economy, saying its quarterly profit rose 4 percent and reaffirming its outlook for 2008...

DJIA Leaders & Laggards: VZ GE
On the rising side, shares of conglomerate General Electric Co. rose $1.10, or 3.3 percent, to $34.31, after GE reported a 4 percent higher fourth-quarter profit...

Upbeat GE seeks targets in credit squeeze
General Electric yesterday sought to position itself as a safe haven in troubled times, saying that its global operations, low-cost base and strong credit rating would help it weather the credit squeeze and a weakening US economy...

GE studying bid for Spain's Colonial - report
U.S. conglomerate General Electric is studying a possible offer for troubled Spanish real estate firm Colonial newspaper Expansion reported on Saturday, quoting sources close to the deal...

GE Healthcare profits down 4 percent
Profits for General Electric Co.'s GE Healthcare division declined 4 percent in the fourth quarter because of ongoing production issues with a Utah subsidiary and a new federal law that GE says is continuing to put pressure on the medical imaging industry...

GE seeks to bag Biffa with £1.5bn offer
An Investment group backed by General Electric, one of the world's largest companies, has made a counter-approach worth about £1.5bn for Biffa, the British waste collection group...