May 25, 2001 |
General Electric Co.'s financial-services unit and Goldman Sachs Group Inc. signed an agreement with creditors of troubled commercial lender Finova Group Inc. to provide about $7 billion of liquidity for its Chapter 11 bankruptcy protection. GE Capital also said it will enter a servicing agreement to manage the company's assets. The move, if approved in U.S.
January 25, 1999 |
GE Capital declared its intention Sunday to become a financial services leader in Japan following its purchase of the leasing operations of bankrupt Japan Leasing Corp. for about $7 billion. The financial services arm of General Electric Co. became the latest U.S. firm to salvage a bargain from the wreck of Japan's bubble economy. It immediately revealed high ambitions for the Japanese market.
July 27, 2002 |
General Electric Co. on Friday announced a surprise shake-up of its profit-driving financial services arm, splitting GE Capital into four separate parts in a bid to give investors a sharper picture of the unit's operations and results. GE Capital, which generates 40% of GE's earnings, will be split into insurance, commercial finance, consumer finance and equipment units, each reporting to GE Chief Executive Jeffrey Immelt and Vice Chairman Dennis Dammerman.
December 7, 1999 |
GE Capital, the world's largest nonbank financial institution, has bought a stake in Autobytel Japan, a local unit of Internet-based vehicle trading system operator Autobytel.com Inc. of Irvine, the Nihon Keizai Shimbun reported in this morning's edition. The U.S. financial firm plans to begin an online auto leasing service in Japan next spring, the newspaper said, citing company sources. GE Capital plans to acquire more Autobytel Japan shares from Autobytel.
August 30, 1997 |
General Electric Co.'s GE Capital unit may have illegally collected credit card debts from more than 17,000 customers who filed for personal bankruptcy, and has made some refunds. GE's finance arm said it's investigating whether it failed to file the proper court documents after persuading bankrupt credit card customers to pay debts that they could have had wiped clean. GE Capital joins a raft of companies accused of exploiting consumers who might not know their legal rights.
January 28, 1992 |
Shoppers at Bullock's, I. Magnin's and Macy's stores are not likely to be directly affected by the Chapter 11 bankruptcy petition filed Monday by R. H. Macy & Co. However, the filing raises a number of questions and concerns among consumers, creditors and employees. Here are answers to some of the most frequently asked questions: Q Do I still have to pay my charge accounts? A Certainly. The bankruptcy filing does not change your credit relationship with Macy's, Bullock's or I. Magnin.