Earlier this week, Jeff Immelt discussed GE’s business performance and plans at the annual outlook investor meeting. If you missed the live webcast on GE Reports, you can watch a recap of the meeting in the YouTube player below.
Update: The New York Times recently cited GE’s outlook meeting as an example for other companies to follow.
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Really Fantastic!!!!
Dear,
How about GE scholarship for trainees in 2009? Pls keep me informed.
Regards,
Umoren
Notes from the above recap, for your convenience:
– GE navigated very well through the 2008′s broad system failure in the economy
– in the financial industry there will be fewer competitors and it will be a fundamental risk repricing expected in 2009, 2010 or 2011
– emerging markets are still growing
– unemployment above 8.5% expected in the second half of 2009
– consumer confidence at all time low
– houses prices have still a little bit more room to go down
– capital expenditure under pressure
– GE earned $18 billion in 2008
– $1.24/share dividend in 2009
– forecast of GE returning to 10% growth rate after recession
– GE enters in this tough economy with great well established businesses that are market leaders
– GE has $170 billion in backlog
– GE’s benefits of scale:
– being global: more than half revenue & manufacturing comes from outside US
– driving innovation:
* invested $50 billion in this decade
* GE generates 2000 patents per year
* has 40000 engineers and 100 breakthrough projects
– generating best practices across the company and lean driving cost out
– margins and returns that are better than peers
– leader in content and programming
– AAA company
GE Priorities:
1. make right investments to grow organically for the long term
2. dividend is culturally important to the company
3. execute on the finnancial services plan. Make GE Capital safer and secure.
Above are my personal notes that were not influenced in any way by my employer General Electric.
I have money invested in GE and have been hearing there is some problem with GE being involved with business with Iran—Is this true and is my investment in trouble? Please answer this comment—Thanks
Hi Dorothy,
GE has no business in or with Iran. GE and its board decided in 2005 to stop doing business in Iran.
There have been two exceptions to this: completing the work for existing contracts as quickly as possible and humanitarian activity, which is authorized by U.S. Government licenses. As of June 2008, GE completed all business in Iran. GE at all times acted in full compliance with U.S. and other laws.
You can read more at: http://www.ge.com/news/our_viewpoints/iran.html
We have a serious issue with credibly, on one hand the analyst’s CLAIM GE is basically a fraud in reporting the financials along with other underlining issues with the company that remain behind close doors. The analyst’s further claim that GE’s earnings will be more tax related then factual earnings.
The analyst’s sublimely are suggesting Mr. Emmelts credibility is at issue here with net earnings far below what Mr. Emmelt had stated.
Although Mr.Emmelt in the past has stubbed his toe with a couple of misses perhaps Mr. Emmelt with a week to go before earnings come clean with earnings and restate 2010 to ease the fear of miss guided analyst’s.
Jerry Miller
shareholder 40,000 unhappy shares
I’ll take my chance I personally have trust with the chairman
What a lot of analysts and investors are missing is real simple. The financial industry landscape is going to be significantly different, you will see a lot of players disappear. Those that survive and are left behind will be in a much stronger position. GE will have advantages over pure play financials in that they have Cash flow from non financial business and a much stronger/conservative team running the financial side of the house (compared to speculators running other financial businesses)
GE will be in some rough times the next 12-24 months but if you are a long term investors once this bear market ends (They all do) Investors will be in a very good position. This is an unprecedented market and every industry is suffering, we have not had deflation like this since the 1930′s. Those with cash will be making out nicely buying depressed high quality stocks in companies like GE etc..
Anyhow I will be attending the Annual shareholders conference since GE is my newest holding.
Everything is so fantastic with this company. The share is in free-fall, $13 at the moment, we lie to us from quarter to the other one. Say that I trusted in this giant…
Please send me a list your Board of Directors, Thanks, Lewis
Lewis- You can find that on GE.com.
http://www.ge.com/ar2007/gov_board.jsp
or
http://www.ge.com/company/leadership/directors.html