As GE Capital Chairman and CEO Mike Neal aptly said at the investor meeting on Thursday, the unprecedented amount of detail provided for investors, analysts and the media was a significant amount to “grind you through.” Since even the sharpest eyes might miss something in a 5 ½ hour presentation, GE Reports asked some of the key presenters to underscore a few key facts they think deserve a second look. Put simply: Which slide from the 174-page presentation would you want in your foxhole — or with you in a dark alley with a bearish analyst? We’ll present a selection of their picks throughout the week.
Well positioned: GE Money’s Budapest Bank is one of the leading retail banks in Hungary.
GE Capital Eastern Europe: Dmitri Stockton, president & CEO of GE’s Global Banking & Joint Ventures, said, “I have two favorites, actually. Although slide No. 130 is an overview of our business in emerging markets, it has a key takeaway about our assets that corrects some reports that are currently out there in the media. Our assets are 56% collateralized — for people not familiar with this kind of business, that’s a very healthy number and I’m proud of it. The other slide is No. 131, which shows the credit profile of our customers. We have 63% in the top A/A+ category and the A/B risk profile is 82%. That’s where you want to be. Those are solid numbers that will not only weather a storm, but put you in a great position when things turnaround. With a nearly 15-year presence in the region, the company’s risk performance “compares very favorably to the global consumer averages with delinquencies at a low 2.89% at the end of 2008,” he added.
* View the full slide deck on GE.com
* Read GE Reports coverage of the presentation
Just read an article about the top 30 most respected CEOs 2009, some solid names on there as usual, sorry Jeff, about being removed from the list, complete joke I think, so won’t be subscribing to that rot. Agree with some of em, Jobs from Apple and Buffet, dont know about oil company CEOs making it though, making money in that last oil boom would have been like breathing!!!