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NEWS ABOUT: Jeffrey Immelt

GE Hiring Thousands of US Veterans

Firm to invest $580K in aviation plants amid effort to reboot economy

(Newser) - As General Electric prepares to host an economic summit in Washington, the firm has announced some fixes of its own: It will hire 5,000 US veterans over five years and invest $580 million in its aviation operations this year, Reuters reports. "We should have the confidence to act... More »

Nader on 2012: Sadly, Obama’s a Shoo-In

But liberal firebrand is trying to drum up a primary challenger

(Newser) - Ralph Nader isn’t holding his breath waiting for President Obama to go down in flames Jimmy Carter-style. “The stars are aligned” for Obama’s reelection, Nader writes in a Bloomberg op-ed. Here’s why:
  • The Republican primary field is littered with hardcore ideologues. “Michele Bachmann, Newt Gingrich,
... More »

Multinationals Cut 2.9M US Jobs, Hired 2.4M Abroad

Skilled jobs oozed out of the States in the 2000s

(Newser) - The US Commerce Department released a report today throwing into sharp relief just how drastically US multinational corporations are shifting jobs overseas. During the 2000s, US companies cut 2.9 million jobs in the US, while hiring 2.4 million abroad—including an increasing number of highly-skilled workers, the Wall ... More »

GE CEO to Head Obama's Job Council

Jeffrey Immelt to replace Paul Volcker atop renamed group

(AP) - President Barack Obama is restructuring his economic advisory board to place an emphasis on job creation, and he is naming General Electric CEO Jeffrey Immelt as its new head. The new board, called the President's Council on Jobs and Competitiveness, will replace the former Economic Recovery Advisory Board that had... More »

Network Execs Halted Olbermann-O'Reilly Feud

(Newser) - It took the intervention of a PBS peacemaker to halt the bitterest media fight of the decade, insiders tell the New York Times. Bosses at Fox and at MSNBC owner GE were fed up with Keith Olbermann and Bill O'Reilly's long-running feud—especially after they started savaging each other's networks—... More »

GE's Immelt Lacks Options

CEO needs to shrink, simplify the business, but can't

(Newser) - Don’t envy GE’s Jeffrey Immelt. Though his core business remains profitable, the CEO presides over a huge, unwieldy empire. Parts of the conglomerate, like GE Capital, have tanked the entire corporation’s share price and caused it to lose its prized AAA credit rating. Worse, Immelt may  have... More »

Investors Flee GE Despite Soaring Profits

Fears about GE's capital arm and a possible loss of AAA rating stoke concerns

(Newser) - General Electric, long considered a reliable growth company paying an attractive dividend, is taking a beating ahead of a possible cut to its AAA debt rating, Bloomberg reports. Though GE recently posted its third-highest annual profit ever, the company has lost $264 billion in market value in 12 months and... More »

GE CEO Scraps His $12M Bonus

Immelt cites 56% stock decline in '08, but says the company isn't actually doing too bad

(Newser) - Jeffrey Immelt has recommended to GE's board of directors that he not get a planned $12 million bonus for 2008, the Wall Street Journal reports. The CEO noted that earnings were "below where we expected," but stressed that even those numbers represent success in the midst of a... More »

Obama Names Economic Panel, Volcker to Lead

Drawing on industry and academia, Obama hopes to avoid Beltway vacuum

(Newser) - The White House today named a team of economic advisers, led by former Fed chairman Paul Volcker, to help shape the economic recovery with voices from outside the Beltway, the Washington Post reports. With an initial term of 2 years, the White House Economic Recovery Advisory Board will add to... More »

O'Reilly Blasts at GE Coming From Upstairs

Fox-NBC vendetta brings execs' bile into your living room

(Newser) - Bill O’Reilly’s campaign against General Electric—the Fox News host has called CEO Jeffrey Immelt a “despicable human being” for doing business with Iran—is part of a feud with NBC that extends far up corporate ladders, the Washington Post reports. Fox News Chairman Roger Ailes apparently... More »

GE to Sell Appliances Unit

Auction could fetch up to $8 billion

(Newser) - General Electric plans to get out of the appliance business after more than 100 years, the Wall Street Journal reports. The company has asked Goldman Sachs to help auction its so-called "white goods" unit—washers, dryers, refrigerators, ranges, etc.—for up to $8 billion. The move follows weak... More »

GE CEO Parries Critics —Including Predecessor

Despite missing earnings forecasts, Immelt says he'll stay the course

(Newser) - General Electric CEO Jeffrey Immelt faced the music yesterday, as his predecessor, Jack Welch, raked him over the coals on his own cable TV network for missing first-quarter earnings forecasts. Immelt admitted GE “let people down” in downgrading its outlook for 2008, the Wall Street Journal reports. But he... More »

GE Q4 Profit Climbs 15%; Stock Rebounds

Globalization, weak dollar drive growth; stock price jumps

(Newser) - GE profits rose 15% in the fourth quarter as overseas demand for jet engines and power turbines more than offset the weakness in the US economy, the company reported today. “They've really been a beneficiary of the whole global growth story,” an analyst told Bloomberg. GE stock was... More »

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