Geee Posted April 21, 2011 Share Posted April 21, 2011 Wall Street Journal:General Electric Co. reported a 77% increase in first-quarter earnings, lifted by marked improvement at its GE Capital financing arm and gains at most of its industrial units.The company also boosted its quarterly dividend by a penny to 15 cents. The move marks GE's third dividend increase in the past year, although the payout remains well short of GE's 31-cent dividend before the financial crisis and economic downturn."Our environment continues to improve and get better," said Chairman and Chief Executive Jeff Immelt on a call with analysts, noting that the restructuring of GE Capital was ahead of plan while the quarter saw record orders for its industrial unit.Mr. Immelt also said the company was "done" with major acquisitions after spending $11 billion to expand its energy unitGE shares were up 2.2% to $20.85 in recent premarket activity. The stock has risen 12% year-to-date through Wednesday, with GE's strong first-quarter results following a fourth-quarter report in January that showed substantial evidence of a turnaround.Mr. Immelt reiterated confidence that the Fairfield, Conn., company will achieve goals laid out in its 2011 financial framework, which among other things calls for about 5% revenue growth in GE's industrial businesses. GE has been relying on its industrial units to fuel its long-term prospects as it moves to shrink GE Capital, which once accounted for half the conglomerate's profit but became a severe drag during the financial crisis.Loan-loss provisions continue to decline, and the company said the real-estate market was "firming."GE ended the first quarter with a $177 billion backlog of orders for big-ticket equipment and services, up from $175 billion at the end of the fourth quarter. Link to comment Share on other sites More sharing options...
NCTexan Posted April 21, 2011 Share Posted April 21, 2011 Well DUH! Link to comment Share on other sites More sharing options...
Geee Posted April 21, 2011 Author Share Posted April 21, 2011 Uh, did we mention tax free???? Link to comment Share on other sites More sharing options...
NCTexan Posted April 21, 2011 Share Posted April 21, 2011 Uh, did we mention tax free???? The typical liberal mantra of "Rules for Thee... but not for Me" We need to invoke the RICO Act and take down the two Bozo's in the picture. This pretty well fits what we see here. The Racketeer Influenced and Corrupt Organizations Act (commonly referred to as RICO Act or RICO) is a United States federal law that provides for extended criminal penalties and a civil cause of action for acts performed as part of an ongoing criminal organization. The RICO Act focuses specifically on racketeering, and it allows for the leaders of a syndicate to be tried for the crimes which they ordered others to do or assisted them, closing a perceived loophole that allowed someone who told a man to, for example, murder, to be exempt from the trial because they didn't actually do it. Link to comment Share on other sites More sharing options...
Geee Posted April 21, 2011 Author Share Posted April 21, 2011 I don't know if anyone else has seen him, but Jack Welch used to be on the tube all the time and I haven't seen him in an age? Link to comment Share on other sites More sharing options...
Argyle58 Posted April 21, 2011 Share Posted April 21, 2011 I don't know if anyone else has seen him, but Jack Welch used to be on the tube all the time and I haven't seen him in an age? He's out and about promoting his new book titled "Winning". You can reach him at his official website: www.welchway.com Link to comment Share on other sites More sharing options...
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