GE and Nuclear Energy in India

GE Hitachi, Westinghouse Could Benefit From India's Shift on Nuclear Energy.
GE Hitachi Nuclear Energy, a partnership between General Electric and Hitachi, and Westinghouse Electric, a Toshiba unit are likely to benefit from the recently approved Civil Liability for Nuclear Damage Bill in India.
On Monday, the Indian Parliament approved the compensation bill for nuclear accidents subsequent to tougher provisions on supplier liability. This move would end the two-year nuclear ban on India, whose atomic energy market is estimated between $150 billion and $175 billion.

It would enable U.S. companies to compete and invest almost $100 billion to $150 billion in India's nuclear power industry. Additionally, these companies would compete with European state- run rival companies as India boosts nuclear power generation to increase thirteen-fold by 2030 to spur economic growth.

Prime Minister Manmohan Singh and the Congress government had to rewrite the Civil Liability for Nuclear Damage Bill to accommodate all concerns and views of opposition parties as it seeks to ensure the passing of the bill before U.S president Barrack Obama visits India in November. The new law might lead to a significant increase in nuclear energy contribution to India's current power supply, which currently accounts for a meager 3%. 

Green Energy, Clean Energy, Coal-Beautification, Tobacco-Free, and Nuclear Plants in Poland

General Electric (GE) Stock – Will Green Energy Make It Pop?
There’s no question that General Electric (NYSE:GE) is counting on green energy to help boost revenues. General Electric Co. CEO Jeffrey Immelt spoke to the ARPA-E Energy Innovation Conference in Washington and was clear about what he felt the country needed to do.

He indicated he was afraid that America would be non competitive in the alternative energy markets if action wasn’t taken quickly.
“Right now we have no certainty around an energy future,” Immelt said. “Let’s not take this growth industry and give it to every other country in the world but the U.S.”
Immelt went on to highlight ways he thought the government could help sell green energy to the masses and to protect American industry.

GE CEO Immelt: U.S. lags in clean energy; federal smart grid oversight needed
On the global stage, the United States is facing its stiffest competition to date in the race for clean energy, said General Electric CEO Jeffrey Immelt at a conference in Maryland.

Speaking at the ARPA-E Summit in National Harbor, Md., Immelt said energy demand is redirecting toward the developing world, and unclear policies and low levels of research and development spending could hinder U.S. progress moving forward — despite new technologies in the pipeline.
“Unless we have a broad perspective on job creation, innovation, and technology growth, we are going to fall behind as a country,” Immelt said, as reported by SmartPlanet sister site CNET. “We need growth as a country and globally we play in a much more competitive arena than any other time in our lifetimes.”
Immelt said current trends indicate that Asian countries will demand energy products at a higher rate than the U.S. or Europe — drawing businesses, innovation and supply chain strength to those countries.
As an example, Immelt said the number of passenger cars sold in China and India will be more than twice the number sold in the U.S. by 2020.

GE Is on a Coal-Beautification Mission
General Electric is "changing the perception of coal energy in America." It's clean -- and sexy. Just watch this TV ad. But wait there's more. Here's the problem: you've got lots of coal in the ground that you want to use to generate electricity and profits. But coal has a reputation for being dirty and causing tons of pollution. So what do you do?

General Electric to go tobacco-free in 2011: Work sites to be tobacco-free
A year ago, General Electric Co. promised financial incentives to U.S. employees who kicked the smoking habit.

Now, the company is going a step further, launching a new policy that would make all the company's work sites tobacco-free by this time in 2011.
There are some other differences between then and now.
For one thing, the Connecticut-based company, one of the world's largest, is addressing only at-work behavior.
Employees won't be asked to sign a tobacco-free pledge that extends beyond the workplace, said Stephan Koller, a spokesman for GE Transportation, based in Lawrence Park Township.
But they will be asked to refrain from using tobacco of all kinds on company property.
General Electric to go tobacco-free in 2011: Work sites to be tobacco-free
GE Hitachi To Build Nuclear Plants In Poland - Update
GE Hitachi Nuclear Energy, and Polish power company Polska Grupa Energetyczna SA, Friday said they have signed a new agreement to collaborate on Poland's initiative to build next-generation commercial nuclear power plants. GE Hitachi Nuclear Energy is a nuclear alliance formed by General Electric Co. (GE: News ) and Hitachi Ltd. (HIT: News ).

Through this alliance, Poland plans to build two nuclear power plants that would help the country diversify its energy production, which currently relies heavily on coal-based technologies.

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.

GE-Hitachi / Detroit Edison Nuclear Plant (WSJ)

GE-Hitachi, Detroit Edison Reach Deal For Nuclear Plant

The nuclear-power joint venture of General Electric Co. (GE) and Hitachi Ltd. (HIT, 6501.TO) has reached an agreement with DTE Energy Co.'s (DTE) Detroit Edison utility related to the venture's next-generation nuclear reactor.

The deal on site-preparation work moves the project ahead in its federal license application process.

Detroit Edison, Michigan's largest utility, is using the reactor design in its application to the U.S. Nuclear Regulatory Commission to construct and operate a proposed generator on the site of the company's Fermi 2 Power Plant, located 35 miles south of Detroit.

READ THE FULL STORY HERE.

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....

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

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

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

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

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

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

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

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

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

Recent News: Wind Turbines, Government Blacklist?, Emerging Markets, Thailand Coal and Nuclear, GE Energy, and NBC.

GE Supplying Wind Turbines to Renewable Energy Systems for Projects to Be Developed in 2009 and 2010
Renewable Energy Systems (RES) Americas Inc. of Austin, Texas, one of the leading wind developers in North America, has signed agreements exceeding $700 million to receive GE Energy 1.5-megawatt wind turbines for projects in 2009 and 2010....

Govt threatens to blacklist GE; Bhel tie-up may be reviewed
Ratcheting up the pitch of its spat with General Electric Co. (GE) over allegedly defective turbines supplied by the US firm to the Dabhol power project, the government has threatened to ban the company from all future public sector power projects and review its alliance with the state-owned equipment maker Bharat Heavy Electricals Ltd (Bhel)...

GE Targets Growth in Emerging Markets
General Electric Co.'s Energy Financial Services unit said it will invest $5 billion through 2010 in energy and water projects in Asia, Latin America and the Middle East in a further sign of GE's diversification away from the U.S. economy....

GE Energy Says Thailand Should Use Coal and Nuclear
Coal and nuclear power remain Thailand's most viable fuel choices for the long term, according to Kovit Kantapasara, head of Thailand and Indonesia for GE Energy...

G.E. Chairman Rejects Talk of NBC Sale
Now hear this: NBC Universal is not for sale. No how, no way. Looking to squelch persistent rumors, Jeffrey R. Immelt, the chairman of General Electric, plans to make his most definitive statement yet about his company’s chief media asset...

GE's Energy Bet
Clearly, General Electric sees more money in powering the demand for infrastructure improvements around the world than it does in consumer spending....

GE chief executive says in annual report company won't sell NBC Universal
The chief executive of General Electric Co. is telling investors that the industrial and financial conglomerate will not sell NBC Universal, despite recurring speculation that GE would shed its media and entertainment division....

Recent News: GE Capital, Qatar, CFM International, and GE Hitachi

GE Capital sells $6 billion in 2 parts - source
General Electric Capital Corp, a unit of General Electric Co, sold on Tuesday $6 billion of debt in two parts, said a source familiar with the deal...

GE wins supply deal for $3.2 bln Qatar plant
General Electric Co said on Tuesday it had agreed to supply equipment for a $3.2 billion fertiliser project in Qatar...

ACTS Signs Long-Term Material & Repair Pacts With GE And CFM
ACTS has signed a 10-year OnPoint solutions agreement with General Electric Co. (GE) for material to repair CF34 engines, and a 10-year materials agreement with CFM International for the repair and overhaul of the CFM56-2, CFM56-3, CFM56-5A, CFM56-5B and CFM56-5C engines...

GE-Hitachi to Meet Utilities as U.K. Backs Nuclear (Update2)
GE-Hitachi Nuclear Energy will meet with European utilities and government officials to discuss reactor sales next week after U.K. ministers backed building plants to replace aged units...

Recent News & Press Releases: Power, Nuclear, Aerospace, Dreamworks - NBC

GE Aviation wins a total of $10B in deals at 2007 Dubai Airshow
The combined $10 billion in orders shows the tremendous demand for our advanced engine technology and services,” said Scott Donnelly, president & CEO, GE Aviation. “Our knowledge of this market and relationships in the Middle East have been extremely valuable. This was our most successful... [Press Release]

General Electric Unit Gets $10B in Deals
Among the $7.7 billion in engine orders, GE's Aviation division secured a $1.4 billion order from Saudi Arabia Airlines to perform overhaul and support services on the carrier's GE90, CF6 and CGF34 engines. Qatar Airways also ordered $1.2 billion worth of engines, including...

State Media: GE To Build Power Stations In Turkmenistan -AFP
U.S. company General Electric (GE) has been asked to build two power stations in Turkmenistan, state media said Sunday, in the latest sign the reclusive Central Asian state is opening up to Western firms...

GE chief urges incentives to fuel nuclear switch: Financial Times
U.S. government hopes that hundreds of nuclear power plants will be built to boost national energy supplies will be dashed unless the power industry is given strong financial incentives to switch away from fossil fuels, said Jeffrey Immelt, chief executive of General Electric...

DreamWorks in discussions to join NBC: report
David Geffen and Steven Spielberg's DreamWorks movie studio is in discussions to join NBC Universal after a soured relationship with owner Viacom Inc. and its Paramount division, according to...

GE Press Releases: Aerospace and Aviation, GE Money, GE Hitachi, GE Capital Solutions, GE Security, GE Healthcare, GE Fanuc

Qatar Airways Selects GEnx and GE90 Engines for its new Boeing 787 and 777 Aircraft
The GEnx order is valued at more than $800 million (USD) list price. The order for the GE90-115B-powered Boeing 777 Freighters follows orders for two Boeing 777 freighter, 14 Boeing 777-300ER and six Boeing 777-200LR aircraft, which are also powered by the GE90-115B engines. The combined list price of the GE90-115B engines ordered for all 27 Boeing 777 aircraft is more than $1.2 billion list price...

Emirates Selects GP7200 Engines for Additional Airbus A380 Aircraft
Emirates has selected the GP7200 engine to power its 12 additional Airbus A380 aircraft. The engine order is valued at $800 million (USD) list price...

GE Corporate Lending Provides $550 Million to Finlay Enterprises, Inc. For Acquisition of Bailey Banks & Biddle
Founded in 1887, Finlay is a leading retailer of fine jewelry operating stand-alone jewelry stores and jewelry departments in department stores throughout the United States. Founded in 1832, Bailey Banks & Biddle operates 70 stand-alone fine jewelry retail stores throughout the United States offering jewelry and watches under high-end brand names

ClimateMaster Endorses Eco-Friendly Loan Program Offered Through GE Money & Electric & Gas Industries Association
The GEOSmart Loan program, sponsored by EGIA and funded by GE Money’s Sales Finance unit, provides both installment and revolving financing options and is available through EGIA-approved contractors to assist consumers looking to purchase a ClimateMaster geothermal heating, cooling and water heating system for their home. “The level of long-term financing provided through the GEOSmart Loan program is something that has long been needed in the geothermal heat pump...

Exelon Nuclear Selects GE Hitachi’s ESBWR
Exelon Nuclear is studying locations in Matagorda and Victoria counties in Texas as potential reactor sites to help address that state’s rapidly growing demand for energy...

Emirates Signs Fleet Management Agreement with Engine Alliance for GP7200 Engines
“As the largest customer of the GP7200 engines, Emirates is an important customer for the Engine Alliance and we look forward to working together with them to fulfill their service needs,” said Bruce Hughes, president of the Engine Alliance...

Saudi Arabian Airlines and GE Sign Overhaul Support Agreement
Under the agreement, GE Aviation will support Saudi Arabian Airlines’ new state-of-the-art facility that will be built in King Abdul Aziz Airport in the Kingdom of Saudi Arabia. The facility will serve the Saudi Arabian and the region market. Additionally, Saudi Arabian Airlines and GE have signed a memorandum of understanding (MOU) for GE to supply material to the airline...

Emirates Order Additional GE90-Powered Boeing 777 Aircraft
Emirates has also signed a 12-year OnPointSM solution service agreement for the maintenance and overhaul of its the GE90-115B engines. The agreement is worth more than $380M over the life of the contract...

Dubai Aerospace Enterprise Orders GE Engines for New Fleet
Bob Genise, CEO of DAE Capital, the Dubai-based group’s aircraft, leasing and finance business, said, “This deal, as part of a 100 aircraft order from Boeing, demonstrates our aim to quickly establish DAE Capital as a world-class aircraft leasing business.”...

Royal Jordanian Signed OnPoint Solution Services Agreement with GE
Created in 1963 by a Royal Decree issued by His Majesty the late King Hussein, Royal Jordanian has grown to cover a network of 54 destinations on four continents. Royal Jordanian operates an extensive fleet, including CF6-powered Airbus A310 aircraft, CF34-10E-powered EMB195, CFM56*-powered A340 aircraft and CFM56*-powered A320 aircraft. This year, Royal Jordanian joined OneworldTM airline alliance...

HP Hotels Secures $17.5 Million in Refinancing and Construction Loans from GE Capital Solutions, Franchise Finance
To further expand its growing hospitality portfolio HP Hotels chairman, Chiman Patel, turned to GE Capital Solutions, Franchise Finance for a $17.5 million refinancing loan for a Hampton Inn in Birmingham, Ala, and new construction of a 115-room Hilton Garden in Oklahoma City, Okla. Patel has a long-term relationship with...

GE Announces Weldstar Girth Weld Pipeline Inspection System
GE Sensing & Inspection Technologies, a business unit of GE Enterprise Solutions (NYSE: GE), announces the release of Weldstar, a complete, automated ultrasonic girth weld inspection system for transmission pipelines. Weldstar provides considerable gains in productivity and probability of detection, without the hazards...

GE Money and Thomasville Furniture Industries Extend Consumer Finance Program
GE Money and Thomasville Furniture Industries today announced a multi-year renewal of its consumer financing agreement, originally formed in 2003. The Thomasville credit card program, issued through GE Money’s Sales Finance unit...

ALAFCO Aviation Lease and Finance Company Selects GEnx Engine for Boeing 787 Fleet
ALAFCO Aviation Lease and Finance Company (KSCC) has chosen the GEnx engine to power its additional Boeing 787 Dreamliners. ALAFCO has order a total of 22 Boeing 787 Dreamliners, all powered by GEnx engines...

Sama Signs an Agreement with GE for USD 51 Million
Sama, the new low-fare carrier in Saudi Arabia, has signed a 10-year, OnPointSM solution agreement with GE for the maintenance, repair and overhaul of its CFM56-3 fleet. The agreement is valued at more than $51 million (USD) over the life of the contract...

GE Security’s New ActiveKEY Delivers Wireless Productivity, Competitiveness and Safety Enhancements to Real Estate Agents
GE Security, Inc., a wholly owned indirect subsidiary of the General Electric Co. (NYSE: GE), today announced its new wireless lockbox key, ActiveKEY, has garnered significant early acceptance since its launch in August and is now being used by more than 33,000 real estate agents in more than 30 markets...

Will Your Hospital Be Prepared? New Report Examines Unfunded Liabilities and its Impact on Current and Future Capital Planning
To provide an understanding of the scope and effect of unfunded liabilities, such as defined benefit pensions and medical malpractice claims, HFMA and GE Healthcare Financial Services have released Managing Unfunded Liabilities: Will Your Hospital Be Prepared?, the third installment in the Financing the Future...

GE Healthcare Financial Services and Sechrist Sign Vendor Financing Agreement
This financing agreement will provide our growing number of hospital and healthcare clinic customers with a means to afford critical medical equipment,” said Jack Rollins, CEO of Sechrist Industries. “GE Healthcare Financial Services’ history in healthcare financing and its financial strength...

GE Business Unit Grows in India with Stake in Investment Arm of KSK, Leading Indian Power Project Developer
This transaction reinforces GE Energy Financial Services’ growth in India’s power market,” said Raghuveer Kurada, Managing Director of GE Energy Financial Services’ India operations. “KSK’s pioneering leadership in mid-sized captive power generation and access to dedicated low-cost fuel reserves creates opportunities for sizeable additional investment in new power projects...

GE Fanuc Intelligent Platforms Announces First NEBS-compliant PCI-X Packet Processors
Designed for applications such as session border control, secure access, network address translation (NAT), traffic management and firewall, the WANic 3850 and 3860 are the first packet processors...

Healthcare, Transportation, Finance, and more

- Georgia healthcare system to install GE's radio frequency ID (Wisconsin Technology Network)

- GE sees 10 pct of revenue stemming from green products by 2010 - vice president (Forbes)

- GE signs nuclear deal with Hitachi (MENAFN.com)

- GE Healthcare Introduces New Purifcation Kits For Improved DNA Analysis (Medial News Today)

- FDA Clears GE Healthcare's Next-Generation Volume PET/CT Application For Oncology Clinicians (Medical Mews Today)

- GE finance division sees strong growth (Farifield County Business Journal)

- GE Transportation signs a contract to overhaul Tazara (Business in Africa)

- GE Healthcare showcases comprehensive portfolio at Arab Radiological Congress (AMEInfo)

- GE Healthcare Financial Services Closes $20 Million DealWith Centric Health Finance (Businesswire)

- Stockpickr: Barron's Roundup - Insider Buying - (TheStreet.com)

- GE Corporate Lending Provides $365 Million Credit Facility to WESCO Distribution, Inc(Businesswire / MSN)