U.S. consumers are going to continue to feel pain until housing prices stabilize, even though global growth remains mostly strong, General Electric Chairman Jeff Immelt said.
General Electric planned sale of its 100-year-old appliance unit makes sense to some investors, but any deal would have only a limited effect on the conglomerate's battered share price.
General Electric plans to auction off its appliances business for as much as $8 billion, ending the company's long association with so-called "white goods," the Wall Street Journal reported.
On Friday I did a sidebar story on what might be ailing General Electric's healthcare business. (Disclosure: CNBC is owned by NBC Universal, which is a unit of GE). It was responsible for a penny of the earnings miss. On "Squawk Box" that morning CEO Jeff Immelt said the longer-than-expected closure of a manufacturing plant was partially to blame.
General Electric's earnings miss was a "bump in the road" that will be overcome as the industrial bellwether sheds poor-performing businesses and the economy improves, CEO Jeff Immelt said on CNBC.
General Electric said it expects 2008 profit of "at least" $2.42 per share, up at least 10 percent, Chairman and Chief Executive Jeff Immelt told investors Tuesday.
General Electric Chief Executive Officer Jeff Immelt on Wednesday reiterated that the global economy was strong despite a tough housing market.
The following is a transcript of a CNBC interview with General Electric Chairman and CEO Jeff Immelt on CNBC's "Morning Call" today at 10:10 AM ET.
Apple’s Co-Founder and Chief Executive Steve Jobs is the “ultimate CEO who matters,” according to a ranking by Barron’s magazine. The annual ranking of top CEOs from around the world seeks to identify the corporate leaders who have top-notch reputations in the financial community and would be missed by investors if they unexpectedly left their jobs.
General Electric is affirming its earnings estimate for this year, and forecasting profit growth of 10-13% in 2007. The parent company of this network also boosting its quarterly dividend by 12%. This morning--GE Chairman and CEO Jeffrey Immelt spoke with The Squawk Box team – explaining how he'll deliver a "high-visibility, low-risk" year.