Posted on 01/23/2009 4:47:58 AM PST by tobyhill
General Electric Co reported a 44 percent drop in quarterly profit Friday, meeting Wall Street’s expectations, as the U.S. conglomerate and economic bellwether closed out one of the toughest years in its 117-year history.
Earnings tumbled 67 percent at GE Capital finance and 86 percent at its lighting and appliance unit, and were also down 6 percent at NBC Universal media. Profit was up at its two infrastructure units, which make electricity-producing turbines and engines.
The world’s largest maker of jet engines and electric turbines said on Friday profit came to $3.72 billion, or 35 cents per diluted share, compared with $6.7 billion, or 66 cents per diluted share, a year earlier.
(Excerpt) Read more at msnbc.msn.com ...
NBC is at the top of a bailout, not to worry, thois has all been “worked out”
I’ve been wishing they’d sell that NBC crap for years, but it actually does make money.
It’s a relic they acquired when they bought RCA.
The company is still profitable. So what’s the problem? Why would a profit making company need a bailout?
Very good question and few in government have a spine to question what you do. Why is it that the common folk of this country can see with far more clarity than those that claim to be the “best and brightest?”
Obomba's fault.
Because we have dozens of Senior Executives who are used to outrageous bonuses, and we can’t have them wanting for anything?
The fact Congress hasn’t been burned to the ground shows me how little the average American cares about the thievery going on in Washington and NYC.
Not to worry, Generalissimo Electrico is in the process of ‘Rebranding” NBC — and they’ve hired a NYC company named Naked Communication to accomplish this herculean task. I am not making this up!
http://www.bizjournals.com/losangeles/stories/2009/01/19/daily26.html
http://www.nakedcomms.com (notice the two sheep on the homepage — how appropriate!)
This is why I don’t understand how Olbermann can keep getting raises and even get paid more than Oreilly does. How can they justif it?
Glad I sold that stock last year
People are finding out that some of their products are a scam.
Their new energy light bulbs have some problems.
1. We all know about the mercury in them and the severe warnings if you break one.
2. More unknown is the writing on the box that they should not be turned on and off frequently.
3. Buy one and you will notice that while it may last years, the light output diminishes over time.
4. Some of the old style lights cast more light and will last as long.
The second reason is thet people might be going in another direction because GE is so liberal and supports Iran.
That sent a Tingle up my leg. Good riddance NBDNC.
Pray for America, Our Troops and the Truth
Indeed, as the "green" energy movement accelerates people will rely more and more on GE to build tomorrow's energy infrastructure--after all, GE is perhaps the biggest company involved in the energy industry and their expertise on building electrical grids is probably second to none. I expect GE to be heavily involved in fuel-cell and ultracapacitor technologies, tidal power generation, and may even take an interest in very exotic forms of power generation as that becomes viable (e.g., solar power satellites).
The convert their credit unit to a bank and they get free money they can then stash for their balance sheet.
The TARP program is not about the ecconomy, the TARP program is only about protecting the “i got mine” rich people who are busy trying to protect their status as moden aristocrats and create a new peon class.
Put out your hand to the gov’ment and say “Please,” GE.
How’s that Green Technology investment thing working out? Hmmm, Bernie Madoff scam collapses, the Global Warming Hoax is springing a leak and with a sucky economy, only the elites want more investment in the “environment”. Suddenly, other priorities are more important. Hell, even the Icelanders are rioting ... in friggin’ January.
Leisler
“The company is still profitable. So what’s the problem? Why would a profit making company need a bailout?”
They don’t. They need a windfall profits tax on them. How dare they make money.
Interestingly, the NBC “chimes” are the notes “G-E-C”. They were originally written for GE, but when GE let the rights lapse, RCA acquired them for their then-radio network. When GE swallowed RCA, they got their chimes back after all those years.
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