Here are a few news updates from the World of GE...
- "A spokesman for General Electric Co said that the company does not expect its subsidiary, GE Capital to participate in the Treasury’s bail out plan, but 'If it were offered, we would evaluate it.' The Wall Street Journal had reported Tuesday that the U.S. Treasury was considering investing funds in a wide range of companies, including GE Capital and CIT Group."
This according to: http://www.forbes.com/
Additional Link: online.wsj.com
- "Though the administration is reluctant to widen the program to cover autos, there has been discussion among Bush officials of expanding use of the $700 billion to buy equity stakes in a range of financial-sector companies, moving beyond just banks and insurers. The focus would be on assisting companies that provide financing to the broad economy, such as bond insurers and specialty finance firms such as General Electric Co.'s GE Capital unit, CIT Group Inc. and others, individuals familiar with the matter said."
Excerpt from: Global Economic Analysis
- "General Electric (GE -3.3% to 18.86) is in trouble because of GE Capital. Former CEO Jack Welch was quick to snap at Jeff Immelt, but he was the one who saddled Immelt with the financial/insurance groups and Jeff got rid of most of the insurance before that too put a torpedo into his machine.
What I’d like to see with GE Capital is that it gets hived off as a shareholder dividend or re-organized into a separately controlled sub. GE needs to revert to being an Industrial. Immelt needs to get off the Board of the NY Fed and he ought to sell CNBC to a consortium of Humungous Bank & Broker so it can be their organ, something the SEC needs to regulate."
Excerpt from the week in review: http://www.billcara.com/
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