A month ago I said the General Electric could prosper in the Alt. Energy/Green economy, but it needed to deemphasize the financial part of their business. This morning, Jeff Immelt gave a press conference saying they are starting down that road.
General Electric Co. is cutting costs, preparing for a new wave of regulation from Washington, D.C. and embracing manufacturing over financial services as ways out of the economic crisis.
This is going to be a model for major American conglomerates. Focus on the Green Industry production. Financial services will no longer dominate our economy.
Good gor GE. No wonder Buffett put $3 Billion in.