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CNBC Exclusive: CNBC Transcript: General Electric Chairman & CEO Jeff Immelt Speaks with CNBC’s “Squawk on the Street” Today

WHEN: Today, Thursday, September 10th

WHERE: CNBC's "Squawk on the Street"

Following is the unofficial transcript of a CNBC EXCLUSIVE interview with General Electric Chairman & CEO Jeff Immelt on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) today. Following are links to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000419257, http://video.cnbc.com/gallery/?video=3000419256 and http://video.cnbc.com/gallery/?video=3000419255.

All references must be sourced to CNBC.

DAVID FABER: OUR NEXT INTERVIEW WITH THE GUEST THAT JUST SNUCK IN TO MY RIGHT HERE. ON TUESDAY, GENERAL ELECTRIC EARNED EUROPEAN REGULATOR APPROVAL FOR ITS PLAN TO BUY ALSTOM'S POWER BUSINESS. THAT IS A $13.5 BILLION DEAL. IT WOULD BE ONE OF GE'S LARGEST ACQUISITIONS CERTAINLY. JOINING US NOW EXCLUSIVELY AT POST 9 IS THE CHAIRMAN AND CEO OF GE, JEFFREY IMMELT. I SAID $13.5 BILLION AFTER ASSET SALES THAT ARE GOING TO BE REQUIRED UNDER IT. IT'S ABOUT 9.5 BILLION.

JEFF IMMELT: YEAH, LESS THAN 10.

FABER: WHICH IS, YOU KNOW, I HAVE SEEN YOU DO A LOT BIGGER DEALS THAN THAT IN THE PAST, BUT THIS HAS GOTTEN A GREAT DEAL OF ATTENTION. WHY IS THIS IMPORTANT FOR GE?

IMMELT: WELL LOOK DAVID, I THINK IT'S JUST ANOTHER STEP ALONG THE WAY OF THE TRANSFORMATION OF THE COMPANY. IT IS A PERFECT FIT WITH OUR ENERGY BUSINESSES. IT HELPS US GROW GLOBALLY. A LOT OF SYNERGIES AND I JUST THINK IT HELPS US ACCELERATE OUR INDUSTRIAL EARNINGS AT THE SAME TIME THAT WE ARE DOING DISPOSITIONS IN GE CAPITAL. SO PERFECT BUSINESS FIT AT THE RIGHT TIME AND WELL-PRICED.

FABER: RIGHT, AND OF COURSE YOU HAVE BEEN TALKING ABOUT THOSE INDUSTRIAL EARNINGS AND TELLING THE MARKET AGAIN AND AGAIN WE ARE GOING TO DO BETWEEN $1.13 AND $1.20 IN INDUSTRIAL EARNINGS THIS YEAR.

IMMELT: YEAH.

FABER: ALTHOUGH THE MARKET DOESN'T SEEM TO –

IMMELT: MID TO HIGH TEENS. LOOK, I WAS JUST LISTENING TO YOU GUYS. THERE IS A LOT GOING ON IN THE WORLD. I JUST HAD THE LAST TWO DAYS IN GE, ALL OF OUR BUSINESS LEADERS. SO I GET A PRETTY GOOD PANORAMA OF THE WORLD AND I JUST SAY IT IS SLOW GROWTH. IT IS VOLATILITY. IT IS UNEVEN. BUT THERE IS STILL GROWTH THERE. IN OTHER WORDS, I LOOK AT THE REST OF THIS YEAR AND INTO NEXT YEAR SEEING A LOT OF OPPORTUNITIES FOR THE COMPANY. AND SO I JUST THINK SOME OF THESE THINGS GET OVERDONE.

FABER: YEAH, WELL, IT MAY BE THE CASE THAT THE FEAR OF CHINA'S SLOWDOWN IS OVERDONE, BUT YOU WOULD BE A PERSON TO ASK. WHAT ARE YOU SEEING IN THAT PARTICULAR MARKET?

IMMELT: SO I THINK IT USED TO BE EASY FOR EVERYBODY IN CHINA BECAUSE IT WAS A MACRO STORY. EVERYTHING IN CHINA GREW. NOW, IT IS MORE OF A MICRO STORY. IF YOU ARE IN THE AVIATION BUSINESS LIKE WE ARE, THINGS ARE BOOMING. IF YOU ARE THE ELECTRIFICATION BUSINESS, THINGS ARE BOOMING. IF YOU ARE IN THE MINING BUSINESS, IT IS QUITE TOUGH. IF YOU ARE IN THE CONSTRUCTION BUSINESS, IT IS QUITE TOUGH. SO WE THINK OUR ORDERS IN CHINA THIS YEAR WILL BE UP HIGH SINGLE DIGITS. IT IS PROBABLY SLOWER THAN IT WAS IN THE PAST, BUT IT IS NOT TERRIBLE BY ANY STRETCH OF THE IMAGINATION.

FABER: THE ORDERS ARE UP WHAT? 15%, I BELIEVE, IN THE FIRST HALF IN CHINA.

IMMELT: THEY ARE UP ABOUT 8%, 9% IN THE FIRST HALF. THEY WILL BE UP LOW SINGLE DIGITS IN THE THIRD QUARTER AND UP 8%, 9% FOR THE YEAR.

FABER: SO WHAT ARE YOUR EXPECTATIONS THERE? YOU KNOW, WE HEAR SO OFTEN ABOUT HOW QUICKLY THINGS MAY BE SLOWING. BUT FRANKLY, WE DON'T KNOW. WHAT DO YOU THINK?

IMMELT: I THINK IT IS MORE VOLATILE THAN IT HAS BEEN IN THE PAST. BUT THE UNDERLYING GROWTH RATE IS STILL PROBABLY 5% OR 6%, OR 7%. WE SEE IT IN REVENUE PASSENGER MILES. WE SEE IT IN ELECTRIFICATION. WE SEE IT IN THE BUSINESSES WE ARE IN IN CHINA. SO CLEARLY IT IS A BELLWETHER FOR THE OTHER EMERGING MARKETS AS WELL. SO AGAIN, I THINK IT IS A MARKET EVERYBODY LOOKS AT. BUT THERE IS A LOT GOING ON EVEN DESPITE THE ECONOMY. THERE IS REAL REFORM SO PEOPLE ARE MORE HESITANT TO BUY. AND THERE IS A LOT OF CHANGE GOING ON. AS MUCH CHANGE AS I HAVE SEEN IN 20 OR 25 YEARS IN CHINA. BUT UNDERLYING, THERE IS STILL GROWTH THERE. WE SEE IT. IT IS GOING TO BE THE LARGEST MARKET FOR AIRCRAFT IN THE WORLD. IT IS GOING TO BE A BIG GAS TURBAN MARKET. I JUST THINK IT IS A LITTLE BIT OVERDONE RIGHT NOW WHAT PEOPLE ARE SAYING ABOUT CHINA.

FABER: YEAH WELL SOME PEOPLE WOULD SAY IT IS A LITTLE OVERDONE IN TERMS OF YOUR STOCK PRICE SUFFERING AS A RESULT OF PEOPLE'S FOCUS ON BOTH CHINA AND OIL AND GAS DESPITE THE FACT THAT THEY ARE NOT IN ANY WAY A PREPONDERANCE OF THE BUSINESSES YOU HAVE. OIL AND GAS, I WAS READING THROUGH THE CONFERENCE CALL FOR LAST QUARTER, YOU GOT SO MANY QUESTIONS ON OIL AND GAS, JEFF. WHAT ARE YOU SEEING THERE RIGHT NOW? I KNOW YOU ARE TAKING A LOT OF COSTS OUT OF THE BUSINESS.

IMMELT: YEAH LOOK, SO OUR TEAM IS EXECUTING EXTREMELY WELL. CLEARLY, IT IS LESS FUN WITH OIL AT $50 THAN IT IS AT $100. BUT OUR PREMISE ALWAYS WAS, AROUND OIL AND GAS, MORE TECHNOLOGY, MORE CONSOLIDATION, MORE FOCUS ON CUSTOMERS WOULD BE A WINNING HAND. I SEE THAT IN SPADES RIGHT NOW. OUR ORGANIC EARNINGS GROWTH IS GOING TO BE POSITIVE THIS YEAR. WE THINK NEXT YEAR IS GOING TO LINE OUT TO BE OKAY. IT IS A CHALLENGING ENVIRONMENT BUT NOT ONE THAT YOU CAN'T EXECUTE IN. I WOULD SAY THE INDUSTRY HAD GOTTEN MASSIVELY SLOPPY IN THE PAST. THERE ARE AMPLE OPPORTUNITIES FOR EVERYBODY TO CLEAN UP THEIR ACT AND TAKE COSTS OUT –

FABER: YOU ARE TALKING ABOUT SOME BIG NUMBERS. I MEAN LOOKING THROUGH IN TERMS OF WHAT YOU THINK YOU CAN TAKE OUT IN COSTS THIS YEAR.

IMMELT: HUGE AMOUNT OF COSTS WE HAVE TAKEN OUT. WE THINK NET NET OVER TWO YEARS WILL TAKE OUT $1 BILLION OF COSTS. SO WITH REVENUES, LET'S SAY, DECLINING SLIGHTLY, LIKE IT HAS BEEN, WE STILL CAN HOLD MARGINS FLAT AND WE CAN STILL HAVE DECENT EARNINGS PERFORMANCE. MEANWHILE, AVIATION IS BOOMING.

SARA EISEN: GOOD FOR CINCINNATI. HOME BASE OF GE AVIATION.

FABER: CINCINNATI GIRL.

IMMELT: WE'VE GOT A LOT OF STUFF GOING ON IN TERMS OF THE REST OF THE COMPANY. I KNOW SARA IS – I JUST THINK, SLOW GROWTH, VOLATILITY. THAT'S THE WORLD. THERE ARE POCKETS OF GROWTH OUT THERE. WE ARE DOING A COUPLE BILLION DOLLARS IN EGYPT THIS YEAR. WE WILL DO $1.5 BILLION IN PAKISTAN. AFRICA IS STILL GROWING MASSIVELY FOR US. MEXICO IS QUITE STRONG. SO I THINK PEOPLE TEND TO GET FIXATED ON ONE THING. AND I JUST THINK THE U.S. ECONOMY IS DOING BETTER. IN EUROPE, ONE OF THE THINGS WE TALKED ABOUT THE LAST TWO DAYS, EUROPE IS ACTUALLY DOING MUCH BETTER FOR US.

EISEN: ARE YOU WORRIED – I KNOW CURRENCIES HAVE BEEN HURTING YOU WITH SUCH A BIG INTERNATIONAL –

IMMELT: YOU KNOW SARA, THEY SURE HAVE BEEN, BUT WE ARE SO WELL-BALANCED GLOBALLY THAT WE CAN MITIGATE IT BETTER THAN MOST. BUT I WOULD SAY IT HAS BEEN A HEADWIND THIS YEAR –

EISEN: BUT ARE YOU WORRIED WHAT WOULD HAPPEN IF THE FED DOES RAISE INTEREST RATES SOONER THAN LATER TO THAT STRONG DOLLAR GETTING EVEN WORSE?

IMMELT: LOOK, I THINK THE DOLLAR IS GOING TO CONTINUE THE STRENGTHEN MORE THAN LIKELY. WE JUST CONTINUE TO WATCH WHERE OUR PRODUCTION IS AND TRADEOFFS HEADED. BUT INTEREST RATES HAVE BEEN ZERO FOR SEVEN YEARS NOW.

EISEN: TIME FOR A CHANGE?

IMMELT: I THINK THE FED HAS A CHALLENGE. THE U.S. ECONOMY IS GETTING BETTER, BUT WE DON'T SEE ANYTHING THAT'S INFLATIONARY AT THE SAME TIME. SO I THINK IT GIVES THE FED SOME OPTIONALITY ABOUT WHERE IT GOES. BUT I ACTUALLY THINK INTEREST RATES STARTING TO GO UP, THAT'S A GOOD THING FOR US ULTIMATELY, NOT A BAD THING. IN TERMS OF GLOBALIZATION, WE WORRY MORE ABOUT THINGS LIKE THE XM BANK NOT GETTING REAUTHORIZED THAN WE DO QUITE HONESTLY ABOUT CURRENCY.

KELLY EVANS: ON THAT POINT ABOUT GLOBALIZATION, FOR THE LAST 10, 15 YEARS, IT HAS BEEN THE WORKING PREMISE THAT THE WORLD IS FLAT AND GETTING FLATTER. THAT MAKES IT GREAT FOR BUSINESSES AND IN SOME WAYS, GREAT FOR THE WORLD'S CONSUMERS. THE OTHER DAY IN THE JOURNAL, BRETT STEVENS SAID, THE END OF THE WORLD WITHOUT FENCES. WHETHER IT IS EUROPE'S MIGRANT CRISIS, WHETHER IT IS SOME OF THE POLICIES HERE IN THE U.S., DO YOU THINK JEFF, THAT FOR THE NEXT DECADE, HAVING JUST DONE THE ALSTOM DEAL, IT IS GOING TO GET A LOT TOUGHER FOR BUSINESS INTERNATIONALLY? I MEAN, DO YOU SENSE THERE IS A –

IMMELT: SO KELLY, I THINK IT IS A GREAT QUESTION. THERE ARE FEWER PURE FREE TRADERS TODAY THAN THERE WERE TEN YEARS AGO. LET'S FACE IT. NOW, FOR US, BEING POSITIONED IN 175 COUNTRIES, THAT'S AN ADVANTAGE, NOT A DISADVANTAGE. YOU HAVE TO BE VERY FLEXIBLE AND VERY PERSISTENT IN GLOBALIZATION. BUT THE OPPORTUNITIES ARE THERE. WHEN I BECAME CEO, WE WERE $500 MILLION IN AFRICA. THIS YEAR, IT WILL BE $6 BILLION IN AFRICA. SO THE OPPORTUNITIES ARE STILL THERE. BUT YOU HAVE TO SHOW SOME FLEXIBILITY LIKE WE DID IN ALSTOM IN ORDER TO BE SUCCESSFUL.

EVANS: BUT HAVING, YOU KNOW, IT IS HARD TO GROW FROM 175 COUNTRIES. YOU ARE BASICALLY IN ALL OF THEM. IS THERE ANY RISK IN THE YEARS TO COME THAT AMERICAN BUSINESSES RETRENCH AND FOCUS MORE ON DOMESTIC OPERATIONS WHERE THERE IS THE RIGHT POLITICAL, LEGAL, WHATEVER ENVIRONMENT AS POTENTIALLY THE RISK/REWARD OF DOING OVERSEAS –

IMMELT: THE BEST COMPANIES ARE GOING TO BE THE ONES THAT ARE ADVENTUROUS. THE BEST COMPANIES ARE THE ONES THAT CONTINUE TO GO FORWARD REGARDLESS. LET'S FACE IT, GOVERNMENTS ARE HARDER TODAY THAN THEY HAVE BEEN AT ANY TIME IN MY BUSINESS CAREER. IF YOU LET THAT SLOW YOU DOWN, YOU'RE TOAST. WE FOLLOW MARKETS. WE ARE IN THE ENERGY BUSINESS, THE AVIATION BUSINESS, THE HEALTH CARE BUSINESS. IF INDONESIA NEEDS 30 GIGAWATTS OF POWER, WE ARE GOING TO BE IN INDONESIA. WE ARE GOING TO FIND A WAY TO BE SUCCESSFUL. AND WE ARE GOING TO BE BETTER THAN SIEMENS OR OTHER PEOPLE IN TERMS OF HOW TO DRIVE THAT QUEST. I THINK EVERYBODY RIGHT NOW, THE MARKET IS IN A BAD MOOD. EVERYBODY WANTS TO FOLLOW ANYTHING ON CHINA. IT IS VOLATILE, BUT IT IS NOT THAT BAD. THE GLOBAL ECONOMY HAS ENOUGH OPPORTUNITY TO GROW THAT WE RAISED OUR NUMBERS AT THE END OF THE SECOND QUARTER. WE CONFIRMED THEM THE OTHER DAY.

FABER: YOU DID, AND NOBODY SEEMS TO CARE.

IMMELT: WE ARE LOOKING AT 2016. LOOK, DAVID, IT IS ALWAYS ABOUT THE FUTURE.

FABER: IT ALWAYS IS.

IMMELT: I LOOK AT THE FOURTH QUARTER. WE HAVE SYNCHRONY SPIN THAT IS GOING TO HAPPEN. WE HAVE MORE CAPITAL ASSETS THAT WE ARE EXCEEDING OUR PLAN. WE'VE GOT ALSTOM INTEGRATION. AND IN THIS ENVIRONMENT, YOU KNOW, OUR ORGANIC GROWTH RATE IN THIS ENVIRONMENT HAS BEEN 4%, 5%. WE THINK OUR ORGANIC GROWTH RATE FOR THE YEAR IS GOING TO BE AT THE HIGH END OF OUR ESTIMATES. I DON'T WANT TO COMPLAIN ABOUT THAT.

FABER: NO AND FEW PEOPLE WOULD EXCEPT THAT YOU ARE NOT GETTING REWARDED FOR IT IN THE STOCK MARKET WHICH IS A CONVERSATION YOU AND I HAVE HAD NUMEROUS TIMES THROUGH THE YEARS. 14 YEARS ACTUALLY AT THE HELM NOW. TODAY, MAYBE IT IS YOUR, YOU ARE RIGHT AROUND –

IMMELT: PRETTY CLOSE.

FABER: YOUR INVESTOR BASE IS FRUSTRATED AND I'M SURE YOU ARE TO A CERTAIN EXTENT ESPECIALLY AFTER THE GE CAPITAL ANNOUNCEMENT WHEN THE STOCK REALLY SEEMED TO HAVE SOME LIFT BEHIND IT AND HERE WE ARE AT 24.55.

IMMELT: YOU HAVE A TON OF VOLATILITY STILL GOING ON IN THE MARKETPLACE. BUT YOU ARE GOING TO BE REDUCING THE FLOAT WITH SYNCHRONY AND GE CAPITAL. WE HAVE SAID WE ARE GOING TO TAKE 20% OF THE FLOAT OUT IN THE NEXT COUPLE OF YEARS.

FABER: ENORMOUS. YOU ARE GOING TO GET DOWN TO WHAT, 8.5 BILLION?

IMMELT: OUR INDUSTRIAL EPS RATE IS GOING TO BE IN EXCESS OF OUR PEERS. LOOK, I COULD ALWAYS LOOK BACKWARDS. I'M SUPER EXCITED ABOUT THE FUTURE.

FABER: WELL THIS IS YOUR COMPANY AS I HAVE SAID TO YOU IN THE PAST. YOU HAVE COMPLETELY CHANGED THE PORTFOLIO OVER THESE LAST 14 YEARS OR LARGELY. IT IS AN INDUSTRIAL COMPANY. ONCE THE GE CAPITAL SPLIT IS REALLY COMPLETED.

IMMELT: WE LOVE OUR PORTFOLIO, LEADING FRANCHISES. WHAT BUFFETT WOULD SAY, BIG MOATS. GOOD OPPORTUNITY FOR MARGIN EXPANSION. RETURNING $90 BILLION PLUS TO INVESTORS. I JUST THINK IN THE WORLD WE LIVE IN, THAT IS VOLATILE AND SLOW GROWTH, UNEVEN, WE ARE IN A PRETTY GOOD PLACE BECAUSE WE ARE IN THE PLACES THAT ARE GOING TO GROW.

EISEN: WHAT ABOUT THE REGULATORY BATTLE WITH THE D.O.J. OVER THE ELECTROLUX, THE APPLIANCE UNIT SALE.

IMMELT: YOU KNOW SARA, REALLY IT IS 6 TO 5, THERE ARE SIX APPLIANCE MAKERS. THE RETAIL CUSTOMERS ARE EXTREMELY STRONG. SOMETIMES I LOOK AT THESE AND SAY, I JUST DON'T GET IT. I STILL BELIEVE IT WILL GET THROUGH. BUT IT JUST SHOWS THAT WE WANT TO COMPLAIN ABOUT EUROPE. WE HAVE TOUGHER REGULATORS IN EVERY CORNER OF THE WORLD. WE JUST HAVE TO BE PERSISTENT IN THAT REGARD.

EVANS: YOU FED UP WITH THIS ADMINISTRATION?

IMMELT: WHO KNOWS REALLY, KELLY. WE ARE FIGHTING XM AT THE SAME TIME, WHICH IS MORE DRIVEN BY REPUBLICANS. IF YOU EVER POINTED TO ME A COUNTRY THAT SAID THEY BELIEVED IN EXPORTS BUT WAS GOING TO BLOW UP THEIR EXPORT TANK, WE LOOK INSANE TO THE REST OF THE WORLD. IT SEEMS LIKE WE ARE GETTING A LITTLE BIT FROM BOTH SIDES.

EVANS: YOU FED UP WITH CONNECTICUT?

IMMELT: I THINK WE ARE A HIGH-TECH EXPORTER. WE WANT TO BE LOOKING FORWARD IN A PLACE THAT'S GOING TO BE SUPPORTIVE OF WHERE THE COMPANY IS GOING.

EVANS: WHAT IS THAT PLACE? I MEAN TRUE, THERE ARE A LOT OF US LIVE WHO IN CONNECTICUT. AND YOUR FUTURE IN THAT STATE IS CRITICAL.

IMMELT: WE HAVE BEEN THERE 40 YEARS. SO WE WOULD NEVER DO ANYTHING LIKE THIS CARELESSLY OR CASUALLY. BUT WE ARE ALSO QUITE INTENT ON BEING ALIGNED WITH WHERE WE GO. IT IS THE ONLY WAY TODAY.

FABER: WHAT DOES THAT MEAN, JEFF?

EVANS: INDONESIA?

IMMELT: IT MEANS YOU WANT TO BE SOME PLACE WHERE PEOPLE SUPPORT JOB CREATION, WHERE ITS ATTRACTIVE TO TALENT, GOOD COST OF LIVING AND THAT IS VERY SUPPORTIVE IN TERMS OF WHAT A HIGH-TECH EXPORTER HAS TO BE ALL ABOUT. IT IS A GLOBAL BATTLE THAT WE ARE IN AND WE NEED PEOPLE THAT ARE ON OUR SIDE. AND IT IS THE ONLY LANGUAGE PEOPLE UNDERSTAND, IS WHEN YOU TALK ABOUT IT IN THE CONTEXT OF JOBS AND THE FUTURE. THAT IS THE ONLY LANGUAGE PEOPLE UNDERSTAND.

FABER: WHEN ARE YOU GOING MAKE THAT DECISION ON WHERE THE HEADQUARTERS IS GOING TO BE?

IMMELT: IN THE FOURTH QUARTER. WE'VE GOT A TEAM THAT IS WORKING ON IT. IT IS THIS KIND OF THING THAT YOU ONLY THINK ABOUT EVERY 40 YEARS YOU WANT TO MAKE SURE YOU GET RIGHT.

EISEN: DO YOU THINK DONALD TRUMP CAN MAKE OUR COUNTRY GREAT AGAIN AS HE SAYS?

IMMELT: IT'S A PROCESS THAT'S GOING ON RIGHT NOW. I'M A REPUBLICAN. SO I'M ALWAYS ANXIOUS TO SEE WHAT'S GOING TO HAPPEN THERE. BUT TO BE HONEST, I'M MORE CONCERNED ABOUT XM BANK AND THINGS LIKE THAT THAN I AM ANYTHING THAT IS GOING TO HAPPEN ON DEBATES OR ANYTHING ELSE.

EISEN: NOT GOING TO GO THERE.

FABER: AND FINALLY JEFF, THIS USED TO DRIVE YOUR PREDECESSOR A LITTLE BIT NUTS, BUT I WANT TO ASK ABOUT THE HUDSON RIVER. "THE NEW YORK TIMES" RECENTLY IMPLORED GE, EVEN THOUGH YOU FINISHED THE DREDGING, TO DO MORE. IS THERE ANY CHANCE YOU WILL LISTEN?

IMMELT: WE HAVE BEEN AT THIS 50 YEARS DAVID. WE HAVE DONE EVERYTHING THE EPA HAS ASKED US TO DO. WE HAVE BEEN VERY SUPPORTIVE AND THEY HAVE BEEN VERY SUPPORTIVE OF US. ALL THINGS HAVE TO END SOMEDAY. I THINK WE HAVE FULFILLED WHAT EVERYBODY HAS ASKED US TO DO. I THINK THIS IS COMING TO AN END.

FABER: YOU REALLY FEEL LIKE YOU ARE A 30-YEAR-OLD. ISN'T THAT WHAT YOU TOLD MARY THOMPSON?

IMMELT: SERIOUSLY. THESE JOBS ARE MARATHONS, THEY ARE NOT SPRINTS. I SIT HERE MORE EXCITED ABOUT THE COMPANY TODAY WHEN I THINK ABOUT WHAT WE CAN DO IN THE NEXT TWO OR THREE OR FOUR YEARS. THAN I HAVE ANY OTHER TIME IN MY CAREER. AND I THINK WE HAVE A LOT TO PROVE TO INVESTORS AND I WANT TO PROVE IT TO THEM. AND THAT IS WHY I FEEL YOUNG AGAIN.

FABER: ALRIGHT, 14 YEARS IN. I LIKE TO HEAR IT. JEFF IMMELT. AS ALWAYS, WE VERY MUCH APPRECIATE IT.

IMMELT: THANKS GUYS. TAKE CARE.

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