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Jeffrey Immelt

June 20, 2001 | Reuters
The staff of the European Commission recommended that European Union member countries reject General Electric Co.'s proposed purchase of arms contractor Honeywell International Inc., sources familiar with the situation said. The recommendation, made on competition grounds, was contained in a draft decision that was sent to the 15 member countries Friday, the sources said.
October 7, 2005 | From Reuters
General Electric Co. on Thursday raised its profit forecast for the year and its chief executive said the U.S. economy was "pretty darn good," giving GE shares their biggest one-day percentage boost in 21 months. GE rose 91 cents, or 2.8%, to $33.59, its best one-day gain since January 2004. The bullish comments from GE CEO Jeffrey Immelt were notably more optimistic than a survey of U.S.
General Electric Co.'s fourth-quarter earnings rose 9.7% as it cut costs and sales fell for a third quarter in a row, with the U.S. recession hurting businesses such as plastics and broadcasting. Net income increased to $3.93 billion, or 39 cents a share, from $3.59 billion, or 36 cents, a year earlier, matching analyst estimates. Sales dropped 2.9% to $33.98 billion because the largest company by market value sold some operations, mainly in its GE Capital finance unit.
July 22, 2002 | Bloomberg News
Britain's 10 highest-paid chief executives earned a combined $128 million in the latest financial year, according to a survey of pay among FTSE-100 index companies. Jean-Pierre Garnier, head of GlaxoSmithKline, earned the most--$31.95 million in base pay, bonus, shares and options--followed by Chris Gent of Vodafone Group, Bart Becht of Reckitt Benckiser and John Browne of BP, the survey by Bloomberg News showed.
October 12, 2002 | From Reuters
General Electric Co. on Friday said third-quarter earnings rose 25% as NBC television and the sale of its Internet commerce unit helped offset sluggish plastics demand and weakness in its key aerospace and power markets. GE executives said they expect solid growth next year but plan aggressive cost cutting throughout the company. They said GE power systems, whose business has slowed after a long boom cycle, faces "dramatic restructuring."
December 5, 2003 | From Reuters
General Electric Co. unveiled a sweeping reorganization of its companies Thursday as Chairman Jeffrey Immelt continued a push for the return of 10% annual profit growth with a lineup that favors media, transportation, health care and advanced materials. In an e-mail sent to GE employees, Immelt said he wanted to streamline the corporation's divisional headquarters while emphasizing GE's future as a technology, services and finance company.
March 4, 2008 | From Bloomberg News
General Electric Co. boosted Chief Executive Jeffrey Immelt's total compensation 9.7% last year to $19.6 million as he sold lagging units including plastics and sub-prime mortgage while investing in faster-growing industries such as oil and commercial finance. Immelt, 52, also got 215,000 shares of stock valued at about $7.28 million tied to cash flow, half the payout he would have received if GE outperformed the Standard & Poor's 500 index in five- and two-year periods.
September 15, 2008 | From Bloomberg News
General Electric Co. said its financial services units didn't need to raise external capital, affirmed its profit forecast for the commercial real estate unit and said its consumer-finance division, GE Money, had "adequate reserves." Profit at the finance units, collectively known as GE Capital, was $5.2 billion in the first half of 2008, General Electric said in a memo posted on its website in an effort to reassure investors amid "extraordinary market conditions." Last week, the U.S. government took over mortgage lenders Freddie Mac and Fannie Mae. Separately, Bank of America Corp.
February 14, 2012 | By Tiffany Hsu, Los Angeles Times
General Electric Co., one of the country's largest conglomerates, launched a four-day conference about ways to spur the American economy by promising to hire 5,000 veterans over the next five years. The declaration is one of many that GE made Monday as it began welcoming senators, mayors, governors and executives from companies such as Boeing Co., Dow Chemical Co. and Google Inc. to its Washington confab. As part of the hiring initiative, the Fairfield, Conn., company pledged to join with the U.S. Chamber of Commerce to train veterans in 50 cities.
September 26, 2010 | By Meg James, Los Angeles Times
Comcast Corp. and General Electric Co. announced Sunday that Comcast's No. 2 executive, Steve Burke, would become chief executive of NBC Universal when the merger of the two companies is completed. Burke, 52, will succeed Jeff Zucker, who announced Friday that he would step down when Philadelphia-based Comcast assumes control of GM, which is expected to happen late this year or early 2011. Zucker will stay on for the next few months and work with Burke to attempt a smooth transition.
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