November 1, 2007 |
Peacock Equity, a venture capital fund owned by General Electric Co.'s commercial finance and NBC Universal divisions, said it made an investment in 4Info, a text-messaging and advertising company. 4Info will help GE's media division send targeted ads when users seek information or receive alerts using text messages, New York-based Peacock Equity said.
July 28, 2007 |
General Electric Co. fired "a few" employees at its rail unit as part of the 2-year-old Securities and Exchange Commission hedge accounting probe. The workers helped accelerate transactions from 2000 through 2003 so the deals were recognized in the fourth quarters of those years rather than the subsequent year, GE said in a regulatory filing. Had they been appropriately recorded, profit would have been changed less than 0.2% each year, GE said.
March 6, 2003 |
Conseco Finance Corp., the mobile-home lender that drove parent Conseco Inc. into bankruptcy protection, accepted a $1.01-billion takeover offer from CFN Investments and a General Electric Co. unit. CFN, a venture capital firm, will pay $700 million in cash and GE Consumer Finance will buy Conseco's Mill Creek Bank unit for $310 million in a transaction that must be approved by the Bankruptcy Court.
October 13, 2004 |
General Electric Co. has joined forces with Honda Motor Co. to make and sell the Japanese automaker's jet engine, executives announced. The two companies have established a joint venture company, GE Honda Aero Engines, to manufacture Honda's HF118 turbofan engine. The new company will begin operating at the end of this year in Cincinnati, where GE Transportation's aircraft engine business is headquartered. GE shares rose 2 cents to $34.02 on the NYSE.
August 12, 2004 |
General Electric Co., the world's biggest private-label credit card issuer, said it agreed to buy Moscow-based DeltaBank, an issuer of Visa credit cards. Terms weren't disclosed. The purchase is General Electric's biggest investment in Russia to date. The bank is owned by funds managed by Delta Capital Management, the companies said.
November 25, 2004 |
General Electric Co. said Wednesday that it agreed to buy Ionics Inc. for $1.1 billion in cash to tap rising demand for water purification and treatment in developing countries. Ionic investors would get $44 a share, a 48% premium to Ionic's closing stock price Tuesday. Ionics shares surged $13.53, or 45%, to $43.28 on Wednesday. Shares of Fairfield, Conn.-based GE fell 17 cents to $35.64 on the New York Stock Exchange.
July 16, 1999 |
Montgomery Ward Holding Corp. won a judge's approval of its Chapter 11 reorganization plan, which includes selling the retailer's direct-marketing unit Signature Group for more than $650 million to General Electric Co.'s finance unit. The plan's confirmation in Bankruptcy Court in Wilmington, Del., comes two years after the troubled Chicago-based company sought court protection from its creditors because of weak sales and heavy losses.