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| Tuesday, February 9, 2010 |
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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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January 23, 2009 1:54 PM ET
(Reuters) — General Electric could benefit later this year from a planned U.S. stimulus package, but more realistically will feel the effects from it in 2010, its chief financial officer said on Friday. The U.S. conglomerate has not counted on any stimulus-related spending in its 2009 financial framework, CFO Keith Sherin said. “We think it could help us by the second half of the year and more realistically could help us in 2010,” Mr. Sherin said in a phone interview. Despite the global economic downturn and turmoil in credit makers, the world’s largest maker of jet engines and electricity-producing turbines is confident in its order backlog. GE currently has about $26 billion of orders that it is scheduled to ship this year. “In a macro sense, for the total company, we’ve done a very rigorous job of making sure that what we put in our plan we thought, even with the economic problems that people have and even with the financial liquidity problems, that people are going to take those orders,” Mr. Sherin said. Nevertheless, General Electric on Friday reported a 44% drop in quarterly profit on weakness at GE Capital and its lighting and appliance units. The company also warned that 2009 would be “extremely difficult.” The company has said it would cut jobs across its operations this year, but has not given an overall target for reductions. It employs more than 300,000 people worldwide. GE is also trimming back its finance arm, which accounted for about half of its profits in 2007. The company aims to rely on GE Capital for 30% of its profits, with 10% from NBC Universal and 60% from its core industrial units.
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