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  • General Electric’s profit down 44 percent (WOW! Better shut down NBC or it gets worse)

    01/23/2009 4:47:58 AM PST · by tobyhill · 20 replies · 962+ views
    MSNBC ^ | 1/23/2009 | reuters
    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...