January 20, 2012 |
General Electric Co.'s fourth-quarter profit topped estimates after the conglomerate's industrial order backlog rose to a record $200 billion. Profit from continuing operations of 39 cents a share, excluding some items, compared with the 38-cent average estimate from analysts surveyed by Bloomberg, GE said Thursday. Revenue dropped 8%, including the sale of GE's NBCUniversal stake, to $38 billion, lower than the average analyst estimate of $40 billion. Sales were trimmed by about $1 billion because the fourth quarter had six fewer operating days than the year-earlier period, GE said.
October 1, 2009 |
American Express said it would immediately eliminate monthly fees on gift cards. Until now, the remaining value of an American Express gift card that was more than a year old declined by $2 a month. Gift cards have come under fire in recent years because they often come with fees for services such as activating or replacing them. Many also have expiration dates. The credit card law that President Obama signed in May prohibits gift cards from expiring for the first five years.
May 6, 2008 |
General Electric Co. said Monday it would stop offering loans for the purchase of consumer boats and motor homes. The company told boat and recreational-vehicle dealers that it would cease taking applications by July and underwriting new loans Aug. 1, said Cristy Williams, a spokeswoman for GE Money, the company's consumer finance arm. The company will continue to service its $3.6-billion loan portfolio.
August 9, 2004 |
Dillard's Inc. said Sunday that it had agreed to sell Dillard National Bank, which handles credit cards for the national department store chain, to GE Consumer Finance for about $1.25 billion. According to an announcement from Little Rock, Ark.-based Dillard's, GE Consumer Finance will assume $400 million in liabilities, purchase the owned-account receivables and pay an undisclosed premium. The transaction has been approved by both companies but is subject to regulatory review, Dillard's said.
July 19, 2003 |
The chairman of Wells Fargo & Co.'s consumer finance arm, which ran afoul of California regulators and consumer groups this year, said he was quitting for personal reasons. Dan Porter, 47, said that after 3 1/2 years at Des Moines-based Wells Fargo Financial, he had revitalized the business and that he wanted "a better balance in my life." Wells Fargo Financial repaid 15,000 borrowers in January when regulators found small overcharges on personal loans.
August 7, 2002
Inc., an Irvine consumer finance company, said second-quarter net income climbed to $739,000, or 4 cents a share, from $241,000, or 1 cent a share, for last year's second quarter. Revenue increased 67% to $27.2 million.