General Electric announced a new battery factory in upstate New York. I'm sure the area needs the jobs, and this is good for the economy:
May 12, 2009 – "GE (NYSE: GE) announced today that it will open a new, state-of-the-art battery manufacturing plant in Upstate New York that will serve as the main manufacturing facility for GE’s newly formed battery business. The initial investment in the factory will be $100 million. It will be located in the Capital Region and will create 350 new manufacturing jobs at GE and thousands more in the supply chain. The announcement coincides with GE’s submission this week for federal stimulus dollars from the U.S. Department of Energy."
Saturday, May 23, 2009
Friday, April 17, 2009
General Electric First Quarter 2009 Earnings
General Electric released its earnings for the first quarter of 2009. Another profitable quarter although revenues were down 9%. General Electric also ended the quarter with $47 billion cash and equivalents. The stock has done well and has bounced back doubling in price since the lows of March 2009. Bears and short sellers must be a little worried by now.
April 17, 2009
"GE announced today first-quarter 2009 earnings from continuing operations (attributable to GE) of $2.8 billion, or $.26 per share attributable to common shareowners, down 40% from first quarter 2008. First-quarter 2009 revenues from continuing operations were $38.4 billion, down 9% year-over-year."
Press Release
April 17, 2009
"GE announced today first-quarter 2009 earnings from continuing operations (attributable to GE) of $2.8 billion, or $.26 per share attributable to common shareowners, down 40% from first quarter 2008. First-quarter 2009 revenues from continuing operations were $38.4 billion, down 9% year-over-year."
Press Release
Friday, January 23, 2009
General Electric Fourth Quarter 2008 Earnings
General Electric reported its earnings for the last quarter of 2008, and the company was profitable in the quarter. Despite this, critics of the company's leverage situation will not be satisfied.
Jan. 23, 2009
"GE announced today fourth-quarter 2008 earnings from continuing operations of $3.9 billion, or $.37 per share before preferred dividend, or $.36 per share attributable to common shareowners. Results included $1.5 billion of after-tax restructuring and other charges, including increased reserves in current environment, which are above the Company’s original plan and the restructuring will lower costs for 2009 and beyond. For the year, revenue was $183 billion, up 6%, and earnings were $18.1 billion, down 19%. This was the third highest earnings year in GE history."
Press Release
Jan. 23, 2009
"GE announced today fourth-quarter 2008 earnings from continuing operations of $3.9 billion, or $.37 per share before preferred dividend, or $.36 per share attributable to common shareowners. Results included $1.5 billion of after-tax restructuring and other charges, including increased reserves in current environment, which are above the Company’s original plan and the restructuring will lower costs for 2009 and beyond. For the year, revenue was $183 billion, up 6%, and earnings were $18.1 billion, down 19%. This was the third highest earnings year in GE history."
Press Release
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