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Keyword: ge

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  • GE shares pop after plans to spin off health-care unit, on pace for its best day in 3 years

    06/26/2018 12:39:26 PM PDT · by SeekAndFind · 16 replies
    CNBC ^ | 06/26/2018 | Tae Kim
    GE on path to reduce debt by $25 billion GE's turnaround strategy is becoming clear. The company announced plans on Tuesday to spin off its health-care unit and separate its stake in oil services company Baker Hughes over the next two to three years. GE will focus its operations on the aviation, power and renewable energy businesses. “Today marks an important milestone in GE’s history. We are aggressively driving forward as an aviation, power and renewable energy company — three highly complementary businesses poised for future growth. We will continue to improve our operations and balance sheet as we make...
  • General Electric shareholders should rejoice at the Dow removal

    06/20/2018 7:56:38 AM PDT · by Red Badger · 30 replies
    CNBC ^ | 06/20/2018 | Tae Kim
    After more than a hundred years as a component in the Dow Jones industrial average, General Electric will be replaced by drugstore chain Walgreens Boots Alliance next week. But GE investors may take solace in the recent history of stock price out performance from the companies booted from the Dow. On Tuesday David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said in a statement adding Walgreens to the Dow Jones industrial average will make the index "more representative of the consumer and health-care sectors of the U.S. economy." "Today's change to the (Dow...
  • General Electric gets booted from the Dow

    06/19/2018 3:50:31 PM PDT · by Magnatron · 52 replies
    CNN Fake News ^ | 19 June 2018 | Matt Egan
    For the first time in 110 years, General Electric will not be a member of the elite Dow Jones Industrial Average. S&P Dow Jones Indices announced on Tuesday that the iconic maker of light bulbs and jet engines will be replaced in the 30-stock index by Walgreens Boots Alliance. GE (GE) was an original member of the Dow in 1896 and has been in it continuously since November 7, 1907. Being ousted from the Dow is the latest indignity for GE, which is dealing with a serious cash crisis caused by years of bad deals. GE has replaced its CEO,...
  • GE booted from the Dow, to be replaced by Walgreens

    06/19/2018 3:24:17 PM PDT · by NohSpinZone · 54 replies
    CNBC ^ | 6/19/18 | By Angelica LaVito
    * Industrial giant General Electric is out of the Dow Jones industrial average and will be replaced by drugstore chain Walgreens Boots Alliance. * GE was one of the original components of the Dow Jones industrial average of 30 stocks in 1896.
  • GE Aviation Gets Win as Rolls-Royce Dreamliner Engine is Grounded (Bright spot for troubled company)

    06/11/2018 2:12:43 PM PDT · by SeekAndFind · 18 replies
    The Street ^ | 06/11/2018 | Taylor Nicole Rogers
    General Electric's (GE - Get Report) Aviation unit, one of the few businesses in which the troubled conglomerate is making money, is poised to take advantage of the engine problems suffered by a chief rival. Rolls-Royce Holdings PLC, GE's biggest competitor in airplane engines, said Monday that all 166 of the engines it built for Boeing's fleet of 787 Dreamliners must be grounded pending inspection of a faulty part. The British manufacturer's misfortune provides a rare opportunity for a win for GE, who makes the only engine interchangeable with Rolls-Royce's Trent 1000. "It's hard to make the direct connection to...
  • What the Hell Happened at General Electric?

    05/25/2018 9:03:43 AM PDT · by SeekAndFind · 50 replies
    Fortune ^ | 05/25/2018 | Geoff Colvin
    It’s a bad day for a CEO when he announces he’s retiring and the stock goes up. That was Jeff Immelt’s day on June 12, 2017. The news of his departure was in one sense no surprise—some investors and analysts had been urging his ouster for years;but it was also a shock. He’d been General Electric’s CEO for almost 16 years, and outsiders were unaware of any specific succession plans or that ­Immelt, at age 61, had any intention of stepping down. Suddenly they were told that in just seven weeks he’d be gone as CEO (he remained nonexecutive board...
  • 1 dead after jetliner apparently blows an engine in flight

    04/17/2018 1:45:49 PM PDT · by T-Bird45 · 275 replies
    Assoc. Press ^ | 4/17/2018 | AP
    PHILADELPHIA — A Southwest Airlines jet apparently blew an engine at about 30,000 feet and got hit by shrapnel that smashed a window and damaged the fuselage Tuesday, killing a passenger and injuring seven others, authorities said. The plane, a twin-engine Boeing 737 bound from New York to Dallas with 149 people aboard, made an emergency landing in Philadelphia just before noon as passengers breathing through oxygen masks that dropped from the ceiling said their prayers and braced for impact. "I just remember holding my husband's hand, and we just prayed and prayed and prayed," said passenger Amanda Bourman, of...
  • Reckoning at Hand for General Electric? (The company might not survive a financial crisis intact)

    02/19/2018 6:31:29 PM PST · by SeekAndFind · 16 replies
    American Thinker ^ | 02/19/2018 | Charles Ortel
    If your hackles are not yet up concerning the outlook for highly indebted multinational companies such as GE in a possible looming crisis of 2018, they ought to be.  From September 2008 until recently, we operated in a new world without traditional controls, prepared to believe everything and happy to own almost anything.  Skeptics were mocked, as markets rocked. However, in recent months, benchmark interest rates in the United States – the largest market in the world – are trending upward after ten years at historic low levels.  As interest rates rise, most asset values will fall.  Declining asset values are especially worrying for complex...
  • GE cuts dividend for second time since Great Depression

    11/13/2017 7:17:40 PM PST · by BenLurkin · 24 replies
    GE had been one of the biggest dividend payers in the United States, behind giants like ExxonMobil (XOM), Apple (AAPL, Tech30) and Microsoft (MSFT, Tech30). By cutting the dividend in half, GE will save more than $4 billion per year. That makes it one of the largest dividend cuts in the history of the S&P 500 and the biggest since 2009, according to S&P Dow Jones Indices. GE made an even bigger dividend cut in 2009, during the Great Recession. But dividend cuts are rare these days. Many companies are increasing them because the U.S. economy is healthy and the...
  • Investigation: Foundations Gave Millions To Groups Accused Of Terror Ties

    11/03/2017 6:38:35 PM PDT · by markomalley · 9 replies
    Daily Caller ^ | 11/3/17 | Peter Hasson
    Major American foundations have given millions of dollars in funding to Islamic organizations accused of having ties to radical Islamist movements or designated terrorist organizations and a group of activists are trying to convince them to stop. Groups like Islamic Relief Worldwide, which some countries have banned for allegedly funding Hamas and other terrorist organizations, have received millions of dollars from corporate charities like the GE Foundation, community foundations like the Silicon Valley Community Foundation, and independent foundations like George Soros’ Open Society Foundation.Researchers with the Middle East Forum, an activist group devoted to promoting American interests abroad, identified the financial...
  • GE to offer Macs to their 330,000 employees as it standardizes on iOS for mobile

    10/26/2017 8:52:58 PM PDT · by Swordmaker · 17 replies
    MSPowerUser ^ | October 22, 2017 | By Surer
    We saw yesterday how Microsoft’s absence in mobile led to the removal of Surface tablets from Delta’s employee offerings, and today we have more evidence of the erosion of Microsoft’s dominance in the enterprise as companies increasingly work to simplify their platforms. Industrial giant GE has announced a partnership with Apple to bring Predix, GE’s software platform for the Industrial Internet, to Apple’s iPhone smartphones and iPad tablets. The new Predix-iOS software development kit will include tools that software developers can use to write industrial apps that will run on Apple’s iOS operating system. The new partnership means that a...
  • The Weekly Fix: Double Standard

    07/30/2017 1:08:48 PM PDT · by Tolerance Sucks Rocks · 13 replies
    FreedomWorks ^ | July 28, 2017 | Adam Brandon
    The fix is in. Did you know, corporations like General Electric Co. (GE) spend more money on lobbyists than they pay in taxes? The federal government currently taxes corporations at 35 percent. While many argue the rate is too high, you don’t hear companies like GE complaining about it. That’s because they aren’t paying it. Over the past 15 years, GE’s federal income tax rate averaged only 5.2 percent. General Electric paid no federal taxes in 2010, despite earning $5.1 billion in U.S. profits. Instead, the company claimed a tax benefit of $3.2 billion. Meanwhile, GE executives awarded themselves more...
  • The $31 Billion Hole in GE’s Balance Sheet That Keeps Growing

    06/18/2017 1:29:50 PM PDT · by Lorianne · 30 replies
    source content cannot be posted due to copyright issues | 16 June 2017
    see post below for link
  • The Export-Import Bank Is Overdrawn

    06/11/2015 5:18:42 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | June 10, 2015 | Allen West
    The Export-Import Bank charter will expire in a few days, on June 30, unless Congress acts to reauthorize it. The Export-Import Bank was created more than 80 years ago by President Franklin D. Roosevelt to help foreign customers buy goods from the United States. Some companies benefit from the Export-Import Bank and they are the first ones to defend its reauthorization. But let’s be clear: Companies benefit from Export-Import Bank loans at the expense of taxpayers and other businesses. Taxpayers—not the companies themselves—assume the risk of a foreign loan, made through a private bank (like Goldman Sachs), to purchase a...
  • GE's Immelt Steps Down, Flannery Moves Up

    06/12/2017 9:43:19 AM PDT · by Mazey · 27 replies
    BLoomberg ^ | June 12, 2017 | RIck Clough
    <p>Jeffrey Immelt is stepping down as chairman and chief executive of General Electric Co., bringing to an end a tumultuous 16-year tenure in which he dramatically reshaped the manufacturing powerhouse but failed to win over Wall Street.</p> <p>Amid mounting pressure from activist investor Trian Fund Management, GE said Monday that Immelt will be replaced by John Flannery, a 30-year company veteran who oversaw a jump in profits at the health-care unit. In a sign of just how great opposition to Immelt had become in the investing community, the stock soared the most in more than a year and a half after the announcement was made.</p>
  • A Real Life "House of Cards" - The Most Striking WikiLeaks Revelations From The "Podesta Files"

    10/08/2016 3:04:40 PM PDT · by Rockitz · 35 replies
    ZeroHedge.com ^ | 8 October 2016 | Tyler Durden
    They say that "life imitates art"...or is it the other way around...the lines are getting so blurred. In any event, we thought we would take this opportunity to highlight some of the most startling discoveries we found so far in Doug Stamper's...sorry, John Podesta's emails. You have to admit there are some similarities there and they even have the same position...hopefully the Clinton Foundation is receiving royalties from HBO... Yesterday we pointed out the many amazing one-liners offered up by Hillary as she was out collecting millions of dollars for her "Wall Street speeches." Here is an expanded sample: Hillary...
  • General Electric, Honeywell Post Downbeat Revenue

    07/22/2016 2:56:57 PM PDT · by BenLurkin · 4 replies
    WSJ ^ | 07/22/2016
    GE’s challenges are multiple but consistent, Chief Financial Officer Jeffrey Bornstein said, borne out of slow global economic growth and turbulent geopolitical times—everything from the U.K. vote to leave the European Union to Middle East turmoil and currency shifts. “All this uncertainty generally limits growth,” Mr. Bornstein said. The company forecasts revenue will improve over the remainder of the year, helped by an anticipated surge in power turbine shipments. “Bottom line, we are seeing organic growth accelerating in the second half,” Chief Executive Jeff Immelt said on a conference call Friday. While the company’s oil and gas and transportation businesses...
  • America needs to be a 'beacon of progress' for globalization: Microsoft CEO

    07/11/2016 12:08:41 PM PDT · by GilGil · 47 replies
    Yahoo ^ | 7/11/2016 | Anita Balakrishnan
    The CEOs of two of the largest U.S companies — Microsoft and GE — pushed back strongly against a political tide that threatens to weaken America's ties to the global economy. Monday on CNBC's " Squawk on the Street ," Microsoft (MSFT) CEO Satya Nadella took aim at U.S. trade policies that would prevent the country from remaining a "beacon of progress" on the world stage. "Right now what I'm looking for is the politics in our country to get to a place where people can win elections by making a case for both globalization and addressing the inequities that...
  • Say Goodbye to the Annual Pay Raise

    06/26/2016 5:57:44 AM PDT · by grey_whiskers · 44 replies
    MSN Money ^ | June 26, 2016 | Bloomberg Staff
    Annual pay raises don't work. The salary increase serves two purposes: to motivate workers and to keep employees from leaving for a better-paying job. In its current form, the traditional raise does neither of those things very well. "You can't really do a lot with the annual raise," said Evren Esen, director of survey programs at the Society for Human Resource Management. When the economy is decent, annual pay adjustments come in at 1 percentage point or 2 percentage points ahead of inflation for a given year. That doesn't go far. Employees expect to get at least the cost of...
  • GE to Supply Engines for South Korea’s New Fighter Jets

    05/26/2016 6:27:20 AM PDT · by sukhoi-30mki · 5 replies
    The Wall Street Journal ^ | May 26, 2016 | IN-SOO NAM
    SEOUL— General Electric Co. has clinched a deal to supply engines for South Korea’s next-generation fighter jets. The U.S. conglomerate beat Eurojet Turbo GmbH, a European engine maker, to provide the F414-GE-400 engines, South Korea’s Defense Acquisition Program Administration said Thursday. A final contract will be signed next month, it said. The agency didn’t disclose the deal value, but a person familiar with the matter estimated it at $3.5 billion. The deal is part of one of South Korea’s most ambitious weapons-development programs. The project, Korean Fighter Experimental, or KF-X, is part of Seoul’s plans to replace its decades-old fleet...