General Electric Central

General Electric Battery Plant

2009-05-23T07:45:00.004-05:00

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."

General Electric First Quarter 2009 Earnings

2009-04-17T08:11:00.003-05:00

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

General Electric Fourth Quarter 2008 Earnings

2009-01-23T08:07:00.004-06:00

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

General Electric - Industrial - Enterprise Solutions

2008-11-19T08:45:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Industrial

"Enterprise Solutions offers protection and productivity solutions to some of the most pressing issues that industries face: safe facilities, plant automation, power control and sensing applications in the operating environment. From home to industry to national security, our technology covers the full spectrum of security solutions, including card access systems, high-tech video monitoring, intrusion and fire detection, real estate and property control, and explosives and narcotics detection. We design and manufacture equipment and systems that enable customers to monitor, protect, control and ensure the safety of their critical applications."

"These products include precision sensors for temperature, flow rate, pressure, humidity, gas, infrared and ultrasonic applications; high-quality handheld and portable field calibrators; equipment for detection of material defects; stand-alone measurement instrumentation; and systems that provide the end-to-end solutions necessary to validate or certify vital commercial and industrial processes. We deliver automation hardware and software designed to help users reduce costs, increase efficiency and enhance profitability through a diverse array of capabilities and products, including controllers, embedded systems, advanced software, motion control, computer numerical controls, operator interfaces, industrial computers, and lasers. We also provide products and services to protect and optimize assets such as generators, transmission lines and motors, to ensuring secure wireless data transmission and uninterruptible power."

General Electric - Industrial - Consumer and Industrial

2008-11-18T08:45:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Industrial

"Consumer & Industrial sells products that share several characteristics - competitive design, efficient manufacturing and effective distribution and service. Strong global competition rarely permits premium pricing, so cost control, including productivity, is key. Despite pricing pressures on many of our products, we also invest in the development of differentiated, premium products that are more profitable. While some Consumer & Industrial products are primarily directed to consumer applications (major appliances, for example), and some primarily to industrial applications (switchgear, for example), others are directed to both markets (lighting, for example)."

"We sell and service major home appliances including refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, and residential water systems for filtration, softening and heating. Brands are Monogram®, GE Profile™, GE® and Hotpoint®."

"We manufacture certain products, and also source finished product and component parts from third-party global manufacturers. A large portion of our appliances sales are through a variety of retail outlets for replacement of installed units. Residential building contractors installing units in new construction are our second major U.S. channel. We offer the largest OEM service organization in the appliances industry, providing in-home repair, extended service plans and warranty administration. We also manufacture and sell a variety of lamp products for commercial, industrial and consumer markets, including full lines of incandescent, halogen, fluorescent, high-intensity discharge, light-emitting diode, automotive and miniature products."

General Electric - NBC Universal

2008-11-17T08:45:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

"NBC Universal (8.9%, 10.7% and 10.8% of consolidated revenues in 2007, 2006 and 2005, respectively) is one of the world’s leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience. Formed in 2004 through the combining of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group and world-renowned theme parks."

"NBC Universal is 80-percent owned by General Electric and 20-percent owned by Vivendi S.A. NBC Universal is principally engaged in the broadcast of network television services to affiliated television stations within the United States; the production and distribution of television programs and motion pictures; the operation, under licenses from the U.S. Federal Communications Commission (FCC), of television stations; the operation of several cable/satellite television networks around the world; the operation of theme parks; and investment and programming activities in digital media and the Internet. The NBC television network is one of four major U.S. commercial broadcast television networks and serves 230 affiliated stations within the United States. Telemundo is our U.S. Spanish-language broadcast television network."

"At December 31, 2007, we owned and operated 26 television stations. Broadcasting operations of the NBC television network, the Telemundo network and the company’s owned stations are subject to FCC regulation. Our cable/satellite television network operations principally include USA Network, Bravo, CNBC, the SciFi Channel, MSNBC, Oxygen, the Sundance Channel, UniHD, Chiller, Sleuth, mun2 and news, information and entertainment channels across Europe, Asia and Latin America. We have exclusive U.S. television rights to the 2008, 2010 and 2012 Olympic Games, National Football League Sunday Night Football and the Super Bowl in 2009 and 2012."

General Electric - Healthcare

2008-11-16T08:43:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

"Healthcare (9.8%, 10.9% and 11.0% of consolidated revenues in 2007, 2006 and 2005, respectively) has expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery and biopharmaceutical manufacturing technologies. We are dedicated to predicting and detecting disease earlier, monitoring its progress and informing physicians, helping them to tailor individual treatment for individual patients. Healthcare manufactures, sells and services a wide range of medical equipment: diagnostic imaging systems including equipment for magnetic resonance (MR), computed tomography (CT), positron emission tomography (PET), nuclear and X-ray imaging. Clinical systems including patient monitoring, diagnostic cardiology, ultrasound, bone densitometry, anesthesiology and oxygen therapy, neonatal and critical care devices. Medical diagnostics and life sciences products include diagnostic imaging agents used in medical scanning procedures, protein separation products including chromatography purification systems used in the manufacturing of bio-pharmaceuticals, and high-throughput systems for applications in genomics, proteomics and bioassays."

"During 2006, we acquired IDX Systems Corporation, a leading healthcare information technology provider and Biacore International AB, a leading provider of systems for protein interaction analysis. We sell products and product services to hospitals, medical facilities, pharmaceutical and biotechnology companies and to the life science research market worldwide. Our product services include remote diagnostic and repair services for medical equipment manufactured by GE and by others, as well as computerized data management and customer productivity services."

General Electric - GE Money

2008-11-15T08:49:00.000-06:00

General Electric - Commercial Finance - Real Estate

2008-11-14T06:23:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Commercial Finance

"Real Estate offers a comprehensive range of capital and investment solutions, including equity capital for acquisition or development, as well as fixed and floating rate mortgages for new acquisitions or re-capitalizations of commercial real estate worldwide. Our business finances, with both equity and loan structures, the acquisition, refinancing and renovation of office buildings, apartment buildings, retail facilities, parking facilities and industrial properties. Our typical real estate loans are intermediate term, may be either senior or subordinated, fixed or floating-rate, and are secured by existing income-producing commercial properties. Certain of our originations of low loan-to-value loans are conducted for term securitization within one year; certain of our equity investments, including properties we acquire for investment, are sold under favorable market conditions. We invest in, and provide restructuring financing for, portfolios of mortgage loans, limited partnerships and tax-exempt bonds."

General Electric - Commercial Finance - Capital Solutions

2008-11-13T06:24:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Commercial Finance

"Capital Solutions offers a broad range of financial services worldwide, and has particular mid-market expertise, offering loans, leases, inventory finance, transport solutions and other financial services to customers, including manufacturers, dealers and end-users for a variety of equipment and major capital assets. These assets include retail facilities; vehicles; corporate aircraft; and equipment used in many industries, including the construction, transportation, technology, and manufacturing industries."

General Electric - Infrastructure - Water

2008-11-12T10:49:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Water

"Water offers water treatment solutions for industrial and municipal water systems including the supply and related services of specialty chemicals, water purification systems, pumps, valves, filters and fluid handling equipment for improving the performance of water, wastewater and process systems, including mobile treatment systems and desalination processes. During 2006, we acquired ZENON Environmental Inc., a global leader in advanced membranes for water purification and wastewater treatment."

General Electric - Infrastructure - Transportation

2008-11-11T08:49:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Transportation

"Transportation provides technology solutions for customers in a variety of industries including railroad, transit, mining, oil and gas, power generation and marine. We serve customers in more than 100 countries."

"Transportation manufactures high-horsepower diesel-electric locomotives, including the Evolution Series™, the most technologically advanced and most fuel efficient locomotive, which meets or exceeds the U.S. Environmental Protection Agency’s Tier II requirements. We also offer leading drive technology solutions to the mining, transit, marine and stationary, and drilling industries. Our motors operate in thousands of applications, from electrical drives systems for large haulage trucks used in the mining industry to transit cars and drilling rigs, and our engines are used for marine power as well as stationary power generation applications. We also provide gearing technology for critical applications such as wind turbines."

"Transportation also provides a portfolio of services offerings, designed to improve fleet efficiency and reduce operating expenses, including repair services, locomotive enhancements, modernizations, and information-based services like remote monitoring and diagnostics. We provide train control products, railway management services, and signaling systems to increase service levels, optimize asset utilization, and streamline operations for railroad owners and operators. We deliver leading edge tools that improve asset availability and reliability, optimize network planning, and control network execution to plan."

General Electric - Infrastructure - Oil and Gas

2008-11-10T08:49:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Oil and Gas

"Oil & Gas supplies technology-based equipment and services for the entire oil and gas industry - from drilling and completion to production, transportation, refining, processing, petrochemicals and plastics. We offer a wide range of surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders and industrial power generation equipment. As a global business, Oil & Gas supports the world’s leading national and international oil companies with latest technology products and services that drive improvements in productivity, efficiency and environmental performance."

"On February 23, 2007, Oil & Gas acquired Vetco Gray, one of the world’s leading suppliers of drilling, completion and production equipment for onshore and subsea applications in oil and gas fields. The business supplies flow control valves (known as “Christmas trees”), control systems, wellheads, manifolds, risers and associated after-market services."

"The global demand for oil and gas, coupled with a geographic imbalance between supply and demand, is promoting investment in the exploration, production, transportation and processing segments of the industry."

General Electric - Infrastructure - Energy and Energy Financial Services

2008-11-09T08:49:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Energy and Energy Financial Services

"Energy serves power generation, industrial, government and other customers worldwide with products and services related to energy production, distribution and management. We offer wind turbines as part of our renewable energy portfolio, which also includes solar technology. We also sell aircraft engine derivatives for use as industrial power sources. Gas turbines and generators are used principally in power plants for generation of electricity and for industrial cogeneration and mechanical drive applications. We are a leading provider of Integrated Gasification Combined Cycle (IGCC) technology design and development. IGCC systems convert coal and other hydrocarbons into synthetic gas that, after cleanup, is used as the primary fuel for gas turbines in combined-cycle systems. IGCC systems produce fewer air pollutants compared with traditional pulverized coal power plants. We sell steam turbines and generators to the electric utility industry and to private industrial customers for cogeneration applications. Nuclear reactors, fuel and support services for both new and installed boiling water reactors are offered through a joint ventures with Hitachi and Toshiba."

"We provide our customers with total solutions to meet their needs through a complete portfolio of aftermarket services, including equipment upgrades, long-term maintenance service agreements, repairs, equipment installation, monitoring and diagnostics, asset management and performance optimization tools, remote performance testing and Dry Low NOx (DLN) tuning. We continue to invest in advanced technology development that will provide more value to our customers and more efficient solutions that comply with today’s strict environmental regulations."

General Electric - Infrastructure - Aviation and Aviation Financial Services

2008-11-08T08:44:00.000-06:00

General Electric has many different businesses contained in its six reporting segments: Infrastructure, Commercial Finance, GE Money, Healthcare, NBC Universal and Industrial.

Aviation and Aviation Financial Services

"Aviation produces, sells and services jet engines, turboprop and turbo shaft engines, and related replacement parts for use in military and commercial aircraft. Our military engines are used in a wide variety of aircraft including fighters, bombers, tankers, helicopters and surveillance aircraft, as well as marine applications, and our commercial engines power aircraft in all categories of range: short/medium, intermediate and long-range, as well as executive and regional aircraft. We also produce and market engines through CFM International, a company jointly owned by GE and Snecma, a subsidiary of SAFRAN of France, and the Engine Alliance, LLC, a company jointly owned by GE and the Pratt & Whitney division of United Technologies Corporation. New engines are also being designed and marketed in joint ventures with Rolls-Royce Group plc and Honda Aero, Inc., a division of Honda Motor Co., Ltd."

General Electric Annual Meeting

2008-11-06T07:51:00.000-06:00

GE announced today that it will hold its 2009 Annual Meeting of Shareholders on April 22, 2009 in Orlando, Florida. GE gathers shareholders in a different city each year "so as to demonstrate the performance of a different business and to illustrate the diversity and strength of the Company’s business portfolio."

The History of General Electric

2008-11-05T19:46:00.000-06:00

General Electric was formed in 1892 from the merger of two companies called the Edison General Electric Company and The Thomson-Houston Company. Charles A. Coffin, a former shoe manufacturer from Lynn, Massachusetts, was the founder of The Thomson-Houston Company, and Thomas Edison was the founder of the Edison General Electric Company