General Electric News
News on General Electric (Ticker: GE) continually updated from thousands of sources around the net.
4 hrs ago | Reuters
General Electric Co avoided using a geared design for its new engine for narrowbody jets because of concerns about weight and reliability, said a top GE executive on Monday as it battles with rival Pratt & Whitney for billions of dollars in engine orders. Pratt, part of United Technologies Corp, developed a geared turbofan that relies on a gearbox and lets the front fan operate at a different speed than the rest of the engine, while on GE's traditionally configured engines the fans run at the same speed.
8 hrs ago | Business Journal
There are a lot of details to work out before General Electric Co. sells its appliances division to Sweden-based Electrolux.
11 hrs ago | Hispanic Business
Multi-touch and swipe viewing are a worldwide standard in consumer digital interfaces, so viewing system-wide details even on a 7' display is simple with the new QuickPanel+ multi-touch functionality. Double-tapping or pinching enables the interface to be enlarged to up to 400% of its original size.
15 hrs ago | Business News
Michael D. Robbins, who combined a gregarious nature with ironclad discretion to become a prominent floor trader at the New York Stock Exchange and champion of its history and traditions, has died. He was 80. During 45 years as a member of the NYSE, Robbins was a walking encyclopedia of names and numbers and redefined the role of the independent floor broker.
Fairfield-based General Electric has signed a definitive agreement to sell its signature appliances business to Electrolux for $3.3 billion. The Fairfield Board of Selectmen is conducting its 11th annual Town Employee and Fairfielder of the Year Awards and is seeking nominations for the honors.
Indian IT bellwether TCS Sunday opened the first all-women back office centre in Riyadh, Saudi Arabia, in partnership with GE and Saudi Aramco. The 3,200-square metre business process centre will offer jobs for 3,000 Saudi women for customers like oil major Saudi Aramco and the US-based General Electric in the desert kingdom over the next three years.
In its latest strategic move, GE announced it was selling off its appliance division to Electrolux for $3.3 billion. While not unprofitable, the division earned less than 4% of GE's total $146 billion; GE will focus on more profitable and larger growth sectors, such as energy .
The growth in the oil and gas segment has been impressive for the company and it will be an extremely important area for GE. The growth in oil and gas exploration will result in substantial growth in sales for GE's oil and gas segment.
Progress toward a $10 million community center on the grounds of the Fairfield Hills campus has begun, with the town building committee's listing of architects and contractors to be interviewed for the job later this month. Town leaders expect the community center, to be paid for with part of a $15 million from General Electric, to include swimming pools and recreation spaces for youth and seniors.
When it comes to the conglomerate sector, there is no other company I like as much as General Electric . Unfortunately for investors, shares of the giant diversified company, currently under stewardship of Jeffrey Immelt, have actually lost 5% of their value since the beginning of the year - and that is in spite of improving economic conditions, which should generally be supportive of conglomerate earnings in the future.
Washing machinces are among the products made at Appliance Park in Louisville. General Electric Co.
The PIT Strategy will lead to renewed revenue growth, and if it does not, we all have more to worry about than a poor investment in GE. When the Sage of Omaha announced that his Berkshire Hathaway would buy $3 billion worth of General Electric's preferred shares after the Lehman Shock of 2008, Buffett was quoted as saying that GE was "the symbol" of American business.
General Electric has been a surprise winner in the on-going U.S. energy revolution and has currently grown into one of the major equipment suppliers for oil and gas companies. In the oil and gas conference held on September 10, the management discussed the future prospects of the oil and gas industry sector.
General Electric Co. is selling its appliances unit to Sweden's Electrolux AB. As an electrical-appliance hobbyist, I can't help but feel a little wistful.
In the suit, TAS Energy alleged that the chilling system at Palomar, which SDG&E purchased from General Electric Company, infringed a number of TAS Energy patents. TAS Energy's CEO JT Grumski is quoted as being "very pleased to achieve this constructive settlement with GE and SDG&E.
Updated: Mon Sep 15, 2014 08:07 pm
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