General Electric's Future

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.

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0 Responses to General Electric's Future

  1. Ken Ballweg says:

    Given how closely Buffet vets his potential investments, I suspect he was privy to discussions of plans to do this and that was part of his reasoning for the investment.

    If all major financial institutions had been following his model, the “free market” would still be a viable thing, and we wouldn’t have the hard times ahead. Heard a rumor that he pays taxes too.

  2. Rick Turner says:

    Buffet wants to invest in things that are real. The financial bubble has not been real, but too few will suffer their just reward.

    If you could steal one dollar from every American, probably nobody would bother going after you, but you’d be a multi millionaire. Now go and buy some protection from prosecution and see how much you can steal from each of us. Billions. Hmmm, moving up to trillions.

  3. Another Jon says:

    No such thing s a financial bubble.

  4. museincognito says:

    GE is a wise investment. Unfortunately, I can’t seem to think of another large American company in relatively good shape, with an eye towards the future, that I’d touch.


  5. museincognito says:

    Added to say:

    Please pardon my limited awareness of companies and their subsidiaries, per se, but nothing seems obvious. No other single company (American) is jumping out at me in as big a way.

  6. zestypete says:

    And can I just add that I’m being chased by a debt collection agency for payment on a default loan that isn’t mine. Who does the debt agency represent? GE Money. Never had any dealing with them, never will, but this debt colleciton agency has decided my name is close enough and GE Money doesn’t care enoughto check these things, so there you go.

    In fact, if you Google “GE Money” you discover that GE should have moved out of the finance business a loooong time ago.

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