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The focus following General Electric Co.'s (NYSE:GE) third-quarter earnings release Friday has been on the conglomerate's finance and media holdings. Profit at GE Capital was off 87%, and the company is considering options for NBC Universal, including a possible spinoff. Getting less attention is GE Healthcare, which reported a 20%...
Posted on October 16, 2009 2:58 PM
In an interview last year, Pamela Daley said that the M&A team at General Electric Co. (NYSE:GE) was spending more time thinking about joint ventures. It's becoming increasingly clear what Daley, GE's senior vice president for corporate business development, was talking about.Speaking in India Thursday, CEO Jeff Immelt confirmed for...
Posted on October 2, 2009 11:13 AM
Figuring out valuations for any company is a tricky business, but it seems especially hard for A123Systems Inc., the lithium-ion battery maker that finally set its IPO terms on Sept. 9. On one hand, oil prices are on the mend, the Watertown, Mass., company is riding a wave of...
Posted on September 10, 2009 3:16 PM
News about General Electric Co.'s (NYSE:GE) 47% drop in earnings has focused on the conglomerate's ailing finance arm. And understandably so. GE Capital revenue was off 29% in the second quarter from the same period a year earlier, and earnings plummeted 80%. NBC Universal was pummeled as well, reporting a...
Posted on July 17, 2009 3:45 PM
Investment banking veteran Michael Caulfield, like many of his Bank of America Corp. (NYSE:BAC) colleagues, has left the firm. But he didn't defect to a rival, instead choosing to join a company he was charged with figuring out strategic alternatives for -- Digital Ally Inc. (NASDAQ:DGLY).First, a little background...
Posted on June 2, 2009 1:35 PM
General Electric Co. (NYSE:GE) and Mubadala Development Co. inked a deal for a commercial finance joint venture and nominated Ron Herman, who worked on private equity and mergers and acquisitions at GE Capital, to lead it. Most recently, the 25-year GE vet was CEO of GE Equity."When it is...
Posted on June 1, 2009 3:14 PM
For a while now we've covered news of automakers driving ahead with plans for electric vehicles and lithium-ion battery makers jostling for position to profit from this initiative. The Wall Street Journal shone its own light on this race and highlighted the government's role.The report said the Energy Department has...
Posted on May 26, 2009 1:14 PM
Electric Motors Corp. (NASDAQ:EMCO) and Gulf Stream Coach are teaming to build electric pickup trucks in Indiana. The aim is to produce 50,000 battery-powered pickups by 2013 by retrofitting light-duty trucks with a plug-in serial hybrid electric powertrain. Gulf Stream chief information officer Mark Smith told pickuptrucks.com the companies will...
Posted on May 19, 2009 11:36 AM
General Electric Co. (NYSE:GE) announced plans Tuesday to build a $100 million advanced storage battery manufacturing facility in Albany, N.Y. The factory, which will employ about 350, will be part of GE Transportation and will provide long-lasting batteries to help power hybrid locomotives, boats, mining equipment and other commercial vehicles....
Posted on May 12, 2009 3:40 PM
In a post here on Wednesday, we noted how General Electric Co. (NYSE:GE) was continuing to grow through acquisition even as talk of breaking up the conglomerate persists. Well, it seems that downsizing is also on GE's agenda. On Friday, French arms and aircraft parts maker Safran SA announced it...
Posted on April 24, 2009 12:23 PM
General Electric Co. (NYSE:GE) shareholders are meeting Wednesday in Florida, and as Deal Journal notes, breaking up the business is on the agenda.
Posted on April 22, 2009 12:00 PM
Lithium-ion battery maker A123Systems Inc. received yet another round of private financing, this time pooling $69 million. General Electric Co. (NYSE:GE) provided $15 million, making it A123's biggest cash investor with more than a 10% stake. Also, Mark Little, GE's senior vice president and director GE Global Research, joined the...
Posted on April 13, 2009 3:37 PM
Conglomerate General Electric Co. (NYSE:GE) lost its AAA debt rating on Thursday. Standard & Poor's downgraded GE and General Electric Capital Corp.'s long-term ratings to AA+, with a "stable" outlook. The latter part of the S&P news helped send GE's stock up over 10% in midday trading on the NYSE....
Posted on March 12, 2009 12:20 PM
Reducing its overhead costs in a turbulent economy, Universal Pictures sold its low-cost horror, action and comedy film label to financing partner Relativity Media LLC. The Rogue Pictures label -- which Universal will continue to distribute -- has had success with movies such as "The Strangers" and is one of...
Posted on January 5, 2009 2:28 PM
Ready for a little good news? Try this: It may be a little beleaguered, but there's still a real economy out there where companies make things like communications gear and medicine and jet engines. And even in a period when things like toxic credit default swaps and noxious structured investment...
Posted on December 1, 2008 9:43 AM
You'd expect the folks at General Electric Co. to have a first-rate process for choosing and executing transactions, and they do. But the thing that really sets GE apart is the process for improving the process -- that is, the way the company takes advantage of its huge scale, varied...
Posted on December 1, 2008 9:31 AM
Robert Duffy, general manager, global business development of General Electric Co., attended The Deal's M&A Outlook 2009 to accept the Most Admired Corporate Dealmaker Award in the industrial sector. In this edition of Inside The Deal, Suzanne Stevens speaks with Duffy about GE's acquisition strategy in 2009 Also see:Announcing...
Posted on November 26, 2008 2:14 PM
General Electric Co. is talking with Asian sovereign wealth funds -- including $200 billion China Investment Corp. -- about setting up a joint venture like the $8 billion one it has with Mubadala Development Co. The Middle Eastern JV included commercial finance, clean energy research and development, aviation, industry and...
Posted on November 21, 2008 11:53 AM
Maybe French President Nicolas Sarkozy is right, and we really are reinventing capitalism. It sure feels that way when the topic is the fate of General Motors Corp., as it so often is these days.Adding another voice to the hubbub of opinion Tuesday is former General Electric Co. chairman Jack...
Posted on November 18, 2008 10:20 AM
Not that we need more proof that it's a tough M&A market in which to be a seller, but the International Herald Tribune reported on Thursday that Qindao Haier Ltd. has decided to hold off on a bid for General Electric Co.'s appliance division. The paper quoted a source as...
Posted on October 23, 2008 1:26 PM
Billions of dollars are headed into the hybrid/electric car business and into the devices that will run them. General Electric Co. invested $30 million in A123Systems Inc., bringing its total investment to $55 million, or 9%, in the Watertown, Mass., lithium ion batter maker. A123 claims that unlike standard...
Posted on October 22, 2008 4:33 PM
How much the disparate businesses of General Electric Co. really support each other is a long-running discussion. Lately there's been some investor sentiment that the conglomerate should sell off its NBC Universal media unit. But as related in a Reuters report, GE is making an interesting counterargument based on all...
Posted on August 4, 2008 5:15 PM
According to the New York Post, NBC Universal chief executive Jeff Zucker has made it clear that he's looking to do deals and remake NBC's overall approach. Meanwhile, the Deal's Richard Morgan notes that post-Olympics spinoff rumors of NBC U itself have been around forever. In an article last year,...
Posted on July 9, 2008 4:54 PM
On Monday, I posted on the political donations of executives from Anheuser-Busch Cos., Google Inc., Electronic Arts Inc. and Take-Two Interactive Software Inc. But that was just a fraction of what I turned up plugging names into this campaign search tool at Huffingtonpost.com. All told, I searched about 20 corporate...
Posted on July 1, 2008 11:20 AM
At some companies, top management is happy to delegate every aspect of a divestiture. Not at General Electric Co., though. An article in Thursday's Wall Street Journal (subscription required) reports that CEO Jeff Immelt "has personally reached out" to prospective buyers in what is turning out to be a difficult...
Posted on June 26, 2008 10:35 AM
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