GE Teams with Major Utilities, Builders and Communities to Increase American Home Efficiency by 70%, Save Homeowners $100s/yr. on Energy Bills
A team of technologists from GE's Industrial Solutions, Appliances, Lighting and Research divisions is partnering with major utilities, builders and local communities in the western U.S. to evaluate and develop new strategies that reduce energy usage in new and existing homes by up to 70% or more. With the average U.S. household paying $1,240 per year in electricity costs, this program could save homeowners more than $850 per year on their electricity costs.
Nation's Third Largest Homebuilder Selects GE as Exclusive Appliance Supplier
GE Appliances & Lighting signed a contract to continue its role as the single-source appliance supplier for Lennar Homes, the third largest homebuilder in the country(1). GE was selected for the strength of its brand, homebuyer satisfaction, back room efficiencies, and the scope of its nationwide service and delivery network. In 2009, Lennar Homes built 11,478 homes in 17 states, from California to Massachusetts. GE will provide GE(R), GE Profile(TM), and GE Monogram(R) appliances for all new homes between now and Dec. 31, 2014.
Showing posts with label energy. Show all posts
Showing posts with label energy. Show all posts
Tuesday, August 24, 2010
Monday, August 2, 2010
Recent GE Acquisition and Partnerships
G.E. and Intel Form Health Venture
General Electric and Intel said on Monday that they had formed a joint venture to create products for patients with chronic diseases and for elderly people at home or in assisted living.
The 50-50 venture is part of a collaboration begun last year, the companies said in a statement that did not elaborate on the terms. G.E. will contribute its home health unit’s assets and Intel will contribute its digital health group’s assets, the companies said.
GE acquires ECS from SNC-Lavalin
General Electric Co. bought Montreal-based SNC-Lavalin's Energy Control Systems business and its network management and control software for an undisclosed amount.ECS makes software to improve power efficiency and reliability. Its headquarters will remain in Montreal and it will keep its staff.
GE joint venture engine gets joint certification from FAA, Europe
The advanced engine developed by a GE Aviation venture for the Boeing Next Generation 737 aircraft received joint certification from U.S. and European safety agencies.
General Electric and Intel said on Monday that they had formed a joint venture to create products for patients with chronic diseases and for elderly people at home or in assisted living.
The 50-50 venture is part of a collaboration begun last year, the companies said in a statement that did not elaborate on the terms. G.E. will contribute its home health unit’s assets and Intel will contribute its digital health group’s assets, the companies said.
GE acquires ECS from SNC-Lavalin
General Electric Co. bought Montreal-based SNC-Lavalin's Energy Control Systems business and its network management and control software for an undisclosed amount.ECS makes software to improve power efficiency and reliability. Its headquarters will remain in Montreal and it will keep its staff.
GE joint venture engine gets joint certification from FAA, Europe
The advanced engine developed by a GE Aviation venture for the Boeing Next Generation 737 aircraft received joint certification from U.S. and European safety agencies.
Tuesday, March 2, 2010
United Technologies Acquires GE Security and Energy Policy
United Technologies buys GE security operations
HARTFORD, Conn. — United Technologies Corp. says it has completed its $1.82 billion purchase of General Electric Co.'s fire detection and electronic security business.
CEO Louis Chenevert said Monday the acquisition strengthens United Technologies' fire and security business.
United Technologies, parent of jet engine maker Pratt & Whitney, Otis elevator and Sikorsky Aircraft, announced the deal in November.
GE’s Immelt Says U.S. Needs Strong Actions on Energy
The U.S. government must take “strong actions” to stay competitive with countries such as China and Japan in a race to build wind turbines and nuclear reactors, General Electric Co. chief Jeffrey Immelt said.
“Right now we have no certainty around an energy future,” Immelt, GE’s chief executive officer, said today in a speech to the ARPA-E Energy Innovation Conference in Washington’s Maryland suburbs. “Let’s not take this growth industry and give it to every other country in the world but the U.S.”
Asia makes more than half the world’s wind and solar energy equipment, and is gaining ground as U.S. factories lose out to cheaper labor and higher demand for clean energy. China for the first time topped the U.S. in wind-turbine manufacturing and installations last year, the Brussels-based Global Wind Energy Council said yesterday in a report.
Immelt has helped lead the U.S. Climate Action Partnership, or USCAP, a coalition of businesses and environmental groups calling for Congress to put a cap on carbon-dioxide emissions. The group says legislation is needed so companies such as utilities and their suppliers know how to proceed with long-term investments. A measure passed by the House last year has stalled in the Senate.
HARTFORD, Conn. — United Technologies Corp. says it has completed its $1.82 billion purchase of General Electric Co.'s fire detection and electronic security business.
CEO Louis Chenevert said Monday the acquisition strengthens United Technologies' fire and security business.
United Technologies, parent of jet engine maker Pratt & Whitney, Otis elevator and Sikorsky Aircraft, announced the deal in November.
GE’s Immelt Says U.S. Needs Strong Actions on Energy
The U.S. government must take “strong actions” to stay competitive with countries such as China and Japan in a race to build wind turbines and nuclear reactors, General Electric Co. chief Jeffrey Immelt said.
“Right now we have no certainty around an energy future,” Immelt, GE’s chief executive officer, said today in a speech to the ARPA-E Energy Innovation Conference in Washington’s Maryland suburbs. “Let’s not take this growth industry and give it to every other country in the world but the U.S.”
Asia makes more than half the world’s wind and solar energy equipment, and is gaining ground as U.S. factories lose out to cheaper labor and higher demand for clean energy. China for the first time topped the U.S. in wind-turbine manufacturing and installations last year, the Brussels-based Global Wind Energy Council said yesterday in a report.
Immelt has helped lead the U.S. Climate Action Partnership, or USCAP, a coalition of businesses and environmental groups calling for Congress to put a cap on carbon-dioxide emissions. The group says legislation is needed so companies such as utilities and their suppliers know how to proceed with long-term investments. A measure passed by the House last year has stalled in the Senate.
Monday, February 22, 2010
2009 Layoffs, Iraq Energy, GE Executive Bonuses, Debt, Appliances at the Olympics
GE's Work Force Fell by 6 Percent in 2009
General Electric's overall work force fell by about 6 percent worldwide in 2009 as it struggled to deal with the effects of the deep recession and financial crisis, according to a company regulatory filing Friday.
GE's annual report shows the industrial and financial heavyweight reduced its overall employee head count by about 19,000 jobs to 304,000 workers. It's the second year in a row that jobs have fallen at one of the world's largest companies after several years of job growth earlier in the decade.
Excluding 16,000 jobs that came on the company's rolls last year when it took a majority stake in a Central American bank, GE's work force fell by 35,000. That was much larger than the 4,000 drop in jobs in 2008, the year that GE first began to feel the effects of the global downturn.
Worst hit was the conglomerate's GE Capital lending unit, which saw profits crumble last year as credit dried up and its losses on loans gone bad soared in areas like commercial real estate and credit cards. GE Capital shed 25 percent of its work force to finish 2009 at about 55,000 employees, part of a company plan to significantly shrink the size of the division.
GE expands energy footprint in Iraq
General Electric Co. announced it would join its partners in Iraqi Kurdistan to advance $200 million in power generation projects.
GE through its partners at Mass Global Investment Co. advanced the development of six gas-turbine power units for plants in Dahuk and Sulaymaniyah.
The projects are intended to meet the growing energy demand in the northern Kurdish provinces, the Kurdistan Regional Government in Iraq announced.
GE sets bonuses targets for 1,000 executives
General Electric said Friday it will pay bonuses to about 1,000 executives, including CEO Jeffrey Immelt, if the conglomerate hits business goals through 2012.
The grants will be based on the company's earnings per share, cash flow, ending investment of GE Capital, and 2012 return on total capital.
Depending on how well the company does, executives could get 75 percent to double their February 2013 base salary and separate bonuses for 2012 performance.
Immelt refused a bonus in 2008 and millions of dollars in performance awards, saying that the company's falling profits and plummeting share price prompted him to forgo the payments.
In a separate filing, GE detailed recent results for five business segments created in a Jan. 1 reorganization.
The company created a new home and business unit that includes appliances and lighting and shuffled some functions among the other units -- technology, energy, finance, and NBC Universal.
GE Capital offers to exchange $7.7 bln in debt
General Electric Co.'s financing arm, GE Capital, said Wednesday it is offering holders of about $7.7 billion in debentures a chance to exchange that debt for a bonus payment and other securities.
GE Capital is offering to pay those who accept the offer within 10 days a cash payment of 1 percent of the principal amount of the debt. That payment falls to 0.5 percent for the following 10 days.
The exchange, for trust securities with the same maturity and interest rate, is a move to boost GE Capital's so-called Tier 1 capital, a measure of health for financial institutions.
The offer applies to five lots of subordinated debentures that mature in 2067 with various interest rates.
GE shows smart appliances at Olympics
General Electric Co.’s GE Appliances & Lighting has opened The Home of the Future, featuring GE Profile Smart appliances, at the Vancouver 2010 Olympic and Paralympic Winter Games.
The futuristic “green” home is part of the Power Smart Village, an environmentally focused site in downtown Vancouver open to the public every day of the Winter Games.
So-called “smart” or grid-enabled appliances carry energy from utilities to homes more efficiently, and they send data back to the utilities that can help manage electric power more wisely.
In areas where prices vary daily according to demand, the appliances can respond to signals from the utilities by shifting into power-saving modes or delaying operation until demand is lower.
“I think GE Profile Smart appliances will usher in a new revolution, a revolution in which these appliances will enable us to use energy more wisely and help reduce greenhouse gas emissions,” said James Campbell, GE Appliances and Lighting president and CEO, in a news release.
The Home of the Future was built from two recycled steel shipping containers, and it features other environmentally friendly elements such as vertical gardens on the exterior walls, high-efficiency windows, solar panels, recycled wood and energy-efficient lighting. It is expected to be open to the public through March 21.
General Electric's overall work force fell by about 6 percent worldwide in 2009 as it struggled to deal with the effects of the deep recession and financial crisis, according to a company regulatory filing Friday.
GE's annual report shows the industrial and financial heavyweight reduced its overall employee head count by about 19,000 jobs to 304,000 workers. It's the second year in a row that jobs have fallen at one of the world's largest companies after several years of job growth earlier in the decade.
Excluding 16,000 jobs that came on the company's rolls last year when it took a majority stake in a Central American bank, GE's work force fell by 35,000. That was much larger than the 4,000 drop in jobs in 2008, the year that GE first began to feel the effects of the global downturn.
Worst hit was the conglomerate's GE Capital lending unit, which saw profits crumble last year as credit dried up and its losses on loans gone bad soared in areas like commercial real estate and credit cards. GE Capital shed 25 percent of its work force to finish 2009 at about 55,000 employees, part of a company plan to significantly shrink the size of the division.
GE expands energy footprint in Iraq
General Electric Co. announced it would join its partners in Iraqi Kurdistan to advance $200 million in power generation projects.
GE through its partners at Mass Global Investment Co. advanced the development of six gas-turbine power units for plants in Dahuk and Sulaymaniyah.
The projects are intended to meet the growing energy demand in the northern Kurdish provinces, the Kurdistan Regional Government in Iraq announced.
GE sets bonuses targets for 1,000 executives
General Electric said Friday it will pay bonuses to about 1,000 executives, including CEO Jeffrey Immelt, if the conglomerate hits business goals through 2012.
The grants will be based on the company's earnings per share, cash flow, ending investment of GE Capital, and 2012 return on total capital.
Depending on how well the company does, executives could get 75 percent to double their February 2013 base salary and separate bonuses for 2012 performance.
Immelt refused a bonus in 2008 and millions of dollars in performance awards, saying that the company's falling profits and plummeting share price prompted him to forgo the payments.
In a separate filing, GE detailed recent results for five business segments created in a Jan. 1 reorganization.
The company created a new home and business unit that includes appliances and lighting and shuffled some functions among the other units -- technology, energy, finance, and NBC Universal.
GE Capital offers to exchange $7.7 bln in debt
General Electric Co.'s financing arm, GE Capital, said Wednesday it is offering holders of about $7.7 billion in debentures a chance to exchange that debt for a bonus payment and other securities.
GE Capital is offering to pay those who accept the offer within 10 days a cash payment of 1 percent of the principal amount of the debt. That payment falls to 0.5 percent for the following 10 days.
The exchange, for trust securities with the same maturity and interest rate, is a move to boost GE Capital's so-called Tier 1 capital, a measure of health for financial institutions.
The offer applies to five lots of subordinated debentures that mature in 2067 with various interest rates.
GE shows smart appliances at Olympics
General Electric Co.’s GE Appliances & Lighting has opened The Home of the Future, featuring GE Profile Smart appliances, at the Vancouver 2010 Olympic and Paralympic Winter Games.
The futuristic “green” home is part of the Power Smart Village, an environmentally focused site in downtown Vancouver open to the public every day of the Winter Games.
So-called “smart” or grid-enabled appliances carry energy from utilities to homes more efficiently, and they send data back to the utilities that can help manage electric power more wisely.
In areas where prices vary daily according to demand, the appliances can respond to signals from the utilities by shifting into power-saving modes or delaying operation until demand is lower.
“I think GE Profile Smart appliances will usher in a new revolution, a revolution in which these appliances will enable us to use energy more wisely and help reduce greenhouse gas emissions,” said James Campbell, GE Appliances and Lighting president and CEO, in a news release.
The Home of the Future was built from two recycled steel shipping containers, and it features other environmentally friendly elements such as vertical gardens on the exterior walls, high-efficiency windows, solar panels, recycled wood and energy-efficient lighting. It is expected to be open to the public through March 21.
Wednesday, October 15, 2008
Recent News: Stock Performance, Commercial Paper Demand, Green Energy Policy, and Solar Panels
GE shares decline for 2nd consecutive day
Shares of General Electric Co. declined Tuesday for the second consecutive day as the Dow Jones industrial average continued to advance. An analyst on Monday reduced his earnings estimate, saying the conglomerate's profits are uncertain. Robert T. Cornell of Barclays (nyse: BCS - news - people ) Capital lowered his fourth-quarter earnings per share estimate to 52 cents from 55 cents and cut his 2009 earnings per share estimate to $1.75 from $1.80.
Demand for Some Commercial Paper Jumps
After being severely constricted for weeks, the commercial paper market showed tentative signs of recovery on Tuesday after global leaders aimed a number of initiatives at stabilizing financial markets. On Tuesday, the U.S. government said it would inject $250 billion into ailing banks and guarantee bank debt for up to three years, and it unveiled details on a program specifically targeted at the commercial paper market....
At HBS, GE's Immelt, Other Big Shots Demand Greener Energy Policy
My colleague, Cathy Arnst, is up at a Harvard B-school confab this week and sent in the following snapshot. Big business leaders are clamoring for strong green investment policies from the next administration. In Cathy’s words: GE CEO Jeffrey Immelt came out of the managed economy closet this morning. In front of some 1,600 business people at Harvard Business School (HBS), the citadel of capitalism, he had this to say about federal government investment in environmental technologies in order to create jobs...
CORRECTED - GE, Convexa fund solar panel maker Soliant
GE Energy Financial Services, announced on Tuesday it has added $2.5 million, part of a venture capital round that funded nearly $21 million for concentrator solar panel manufacturer Soliant Energy. Leading the round of investors was Convexa Capital....
Shares of General Electric Co. declined Tuesday for the second consecutive day as the Dow Jones industrial average continued to advance. An analyst on Monday reduced his earnings estimate, saying the conglomerate's profits are uncertain. Robert T. Cornell of Barclays (nyse: BCS - news - people ) Capital lowered his fourth-quarter earnings per share estimate to 52 cents from 55 cents and cut his 2009 earnings per share estimate to $1.75 from $1.80.
Demand for Some Commercial Paper Jumps
After being severely constricted for weeks, the commercial paper market showed tentative signs of recovery on Tuesday after global leaders aimed a number of initiatives at stabilizing financial markets. On Tuesday, the U.S. government said it would inject $250 billion into ailing banks and guarantee bank debt for up to three years, and it unveiled details on a program specifically targeted at the commercial paper market....
At HBS, GE's Immelt, Other Big Shots Demand Greener Energy Policy
My colleague, Cathy Arnst, is up at a Harvard B-school confab this week and sent in the following snapshot. Big business leaders are clamoring for strong green investment policies from the next administration. In Cathy’s words: GE CEO Jeffrey Immelt came out of the managed economy closet this morning. In front of some 1,600 business people at Harvard Business School (HBS), the citadel of capitalism, he had this to say about federal government investment in environmental technologies in order to create jobs...
CORRECTED - GE, Convexa fund solar panel maker Soliant
GE Energy Financial Services, announced on Tuesday it has added $2.5 million, part of a venture capital round that funded nearly $21 million for concentrator solar panel manufacturer Soliant Energy. Leading the round of investors was Convexa Capital....
Thursday, September 18, 2008
Recent News: GE Aviation, Bear Market Investors, Nigerian Power Project, and Google Energy News Conference
GE Aviation CEO Joyce adds senior position with parent firm
General Electric Co. has promoted David Joyce to senior vice president following his appointment in July as president and CEO of Evendale-based GE Aviation. Joyce, 51, was previously head of commercial engines since 2002...
GE Attracts Bearish Investors
As Wall Street struggled to come to grips with the blast of bad news from the financial sector Monday, options traders fixed their attention on General Electric Co. There was a whirl of activity in GE options on Monday, and trading spiked to six times the normal level. Investors showed a clear bias toward bearish contracts, picking up 301,000 calls that allow them to buy GE's stock and 442,000 puts that allow them to sell it, according to Trade Alert....
NIPP: We Didn’t Bribe Nigerian Officials – General Electric
General Electric (GE), the global infrastructure, technology, media and financial services company, yesterday absolved itself of any complicity in the scandal that rocked the National Integrated Power Project, NIPP, saying it carried out its obligations to the letter.Replying reporters' questions in Abuja on the role of the US-based company, President and CEO of GE International, Ferdinando Nani Beccalli, who was in Abuja for the first "GE Day" in Nigeria...
GE, Google plan news conference on energy plans
Energy conglomerate General Electric Co and Internet leader Google Inc plan to hold a news conference shortly on unspecified joint energy projects, the companies said on Wednesday....
Saturday, April 14, 2007
Plastics Sale on the Horizon
Couple of headlines about the upcoming sale of GE Plastics:
- Sale of plastics unit planned by GE in 3rd quarter (ploymerupdate.com)
- General Electric CFO expects plastics deal in second quarter (MarketWatch)
The move shows GE's desire and plan to get out of energy consuming businesses and into energy producing businesses.
GE Plastics Homepage
- Sale of plastics unit planned by GE in 3rd quarter (ploymerupdate.com)
- General Electric CFO expects plastics deal in second quarter (MarketWatch)
The move shows GE's desire and plan to get out of energy consuming businesses and into energy producing businesses.
GE Plastics Homepage
