GE CEO says economy stabilized, growth a question

Reuters ^ | 05/12/2009 | Scott Malone

[EagleUSA]

NISKAYUNA, New York (Reuters) - Improved credit markets have brought stabilization to the economy but it is still not clear when growth will resume, General Electric Co (GE.N) Chief Executive Jeff Immelt said on Tuesday.

"The credit picture, we think, is improving and that's really one of the fundamentals to getting the broader economy doing better," Immelt said in an interview with Reuters. "Things certainly have stabilized and now the goal is to see where growth goes in the second half of the year."

The largest U.S. conglomerate said it was seeking funding from the federal stimulus program for a new battery factory it plans to build outside Albany, New York. That marks GE's first request for stimulus-related funding, but Immelt said he hoped it would not be the last.

"We've got great projects, we've got a great technology pipeline in renewables, clean energy, health care IT, things like that," Immelt said. "The government is still deciding what the process is going to be."

[EagleUSA]

Amazing that anyone would print this guy. But with the recent news of the administration going to, or already has, let a sole contract to GE for the national tracking of personal health information on all citizens. And to top it off, more pandering for handouts from an adminstration eager to take control of everything in America.

[xcamel]

Remember the chairman of “Omnicorp” (Robocop fame...)??

[freekitty]

Who is this guy kidding? They are already sponsering healthcare programs by GE. I have seen them on tv show credits like 24 sad to say as sponsers.