Free Republic

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...