GE

GE reports $13.6B loss

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UPDATED 9:32 a.m. As it begins the process of selling off GE Capital, Fairfield-based General Electric took a first-quarter loss of $1.35 a share, primarily from GE Capital operations it now lists as discontinued. GE shares (NYSE: GE) were up slightly in early trading Friday to $27.45. In a Friday conference call, General Electric CEO […] [Read More]
Categories: GE, General
Jeff Immelt

GE: “speed is going to matter” in sale of GE Capital

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General Electric is selling off most of its GE Capital assets to focus on its industrial businesses, starting with the $26.5 billion sale of GE Capital Real Estate and with the Fairfield-based company seeking other buyers over the next 24 months for its commercial lending operations and other GE Capital assets. UPDATED at 4:23 p.m. […] [Read More]
Categories: GE, General
GE Real Estate

Report: GE nears massive RE sale

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Fairfield-based General Electric is close to selling off some or all of its real estate holdings to Blackstone and Wells Fargo, according to a Thursday report in the Wall Street Journal, with GE Capital Real Estate’s portfolio totaling someĀ $30 billion in equity or loans outstanding on real estate globally. The Wall Street Journal did not […] [Read More]
Categories: GE, General

Oil hurts GE results

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Updated at 8:52 a.m. General Electric revenue rose 4 percent in the fourth quarter to $42 billion, with strong growth in its industrial segment partially offset by a 6 percent drop in revenue reported by its oil and gas division. General Electric (NYSE:GE) is based in Fairfield, with its GE Capital division having its headquarters […] [Read More]
Categories: Energy, GE, General

GE’s Jeff Immelt to appear before French government today

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GE CEO Jeff Immelt is set to appear before the French parliament on Tuesday to defend the company’s $16.9 billion big for Alstom’s energy unit, according to a story in Reuters this morning. The story cites an agenda for the parliament’s economics committee that has Immelt on top for a public hearing. Ir was originally […] [Read More]
Categories: GE

How GE stays on top

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Harvard Business Review’s blog has a post this morning titled, “How GE Stays Young,” which lays out the ways the 130-year-old company has managed to stay on top of its game. The secret, according to the blogger Brad Power, can be summed up in three winning strategies, which I’ve paraphrased below: 1) Deciding how to […] [Read More]
Categories: GE

Alstom set to make announcement on GE offer soon

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Alstom, the French industrial company which produces high-speed rail, said Monday that it would make an announcement soon regarding its future. GE is in talks to buy the energy unit of Alstom, a deal which has been complicated by the French government’s opposition. On its website, the company released the following short statement: Alstom continues […] [Read More]
Categories: GE

WSJ reports GE’s Jeff Immelt reconsidering 20-year tenure

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Today’s Wall Street Journal has a story about Jeff Immelt possibly shortening his run as GE’s CEO. Immelt, 58, had been expected to lead the $258 billion company for 20 years, but according to sources, is now rethinking that plan. He is currently going into his 13th year as chief executive. GE, which is headquartered […] [Read More]
Categories: GE