November 5, 2005 |
General Electric Co. adopted a provision that would make it easier for shareholders to force out directors in corporate governance disputes. Directors standing for reelection must offer to resign if more than half of shareholders withhold their votes, General Electric said. The board would be required to accept the resignation except for a "compelling" reason. General Electric joins more than 25 companies including Walt Disney Co. and Pfizer Inc. in adopting such policies.
December 28, 2002 |
A federal bankruptcy judge said he would allow General Electric Co. to provide $36.6 million to US Airways Group Inc. in a modification of a 2001 credit agreement. The advance, approved by Judge Stephen Mitchell of the U.S. Bankruptcy Court for the Eastern District of Virginia in Alexandria, is part of a proposal under which GE would acquire a 5% stake in a reorganized US Airways in return for loan concessions.
June 20, 2003 |
General Electric Co. and its unions say their proposed new contracts would increase wages by 16.5% for the average hourly employee over four years. Negotiators reached the tentative contract agreements Sunday, but only now disclosed the details. The conference boards of the two largest unions already have recommended ratification. Shares fell 87 cents to $29.86 on the NYSE.
December 15, 1994 |
GE Unlikely to Accept Minority Role: Sources familiar with recent conversations between Turner Broadcasting System and NBC said they believe that NBC's parent corporation will demand at least 51% control of the resulting company if Turner and NBC combine in a merger. The Wall Street Journal reported that Turner is "pressing forward" with a proposal to give General Electric Co. a 35% stake.