Lately ILCs — or “industrial loan companies” — have been in the news, finding themselves unnecessarily drawn into debates about reforms that are needed in the wake of the global financial crisis. Well-known companies such as Toyota, Harley-Davidson, John Deere — and GE — all have ILCs, which are state-chartered banks that can be owned [...]
A Wall Street Journal editorial today makes an inaccurate comment about GE’s participation in the FDIC’s Temporary Liquidity Guarantee Program or TLGP. In doing so, it compares GE to lender CIT.
Designed as a “research accelerator,” the state-of-the-art Qatar Science & Technology Park is focused on becoming an international hub for research, innovation and entrepreneurship. Today, GE’s chairman and CEO Jeff Immelt, along with other international leaders, officially inaugurated the facility – and marked a new partnership with GE on a range of healthcare business and research initiatives, including digital healthcare.
GE Capital is an important source of funding for U.S. companies, industries and consumers. With the recent volatility in the markets, we have taken actions to keep the company safe and provide flexibility. These include reducing leverage and long-term debt needs to solidify our Triple-A credit rating and raising $15 billion of cash through an equity offering. Our diversified funding model also includes $43 billion of retail funding and deposits. There are also a number of programs the U.S. Government has put in place to stabilize the U.S. financial system. We have pursued those that help us to ensure safety first, but also do not impede our future growth plans.
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