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GE Capital (GE) was a burden to the company during the financial crisis, but the finance arm is...

GE Capital (GE) was a burden to the company during the financial crisis, but the finance arm is now one of GE's best earners. GE Capital’s Q4 earnings soared 58% to $1.6B; for the year, its profit more than doubled to $6.5B, as its lending portfolio stabilized. CEO Jeffrey Immelt says the unit is poised to produce double-digit growth this year and resume its dividend in coming months.
Comments (10)
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    All true, unless GE Capital is still full of crappy loans to EU companies who go down in flames.
    20 Jan 2012, 03:37 PM Reply Like
  • Caladesi Kid
    , contributor
    Comments (186) | Send Message
     
    With all that free money we should expect their financial results to improve. Just imagine how much our entire economy would improve if that $3 Trillion doled out to cronies was broadly distributed to tax payers! GE Capital was/is a major recipient of WH favors. By the way, do they still carry their mortgage junk at face value?
    20 Jan 2012, 05:34 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Kid, For clarification, which 3 trillion are you talking about?
    20 Jan 2012, 05:58 PM Reply Like
  • r2koch
    , contributor
    Comment (1) | Send Message
     
    He;s talking about TARP+800B Stimulus + Bond Purchases by the Fed = 3T mazel tov
    21 Jan 2012, 10:11 AM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    GE didn't get it all. The TARP has largely been repaid. The stimulus was a reward to the Unions for helping the Democrats get elected and as a down payment on future votes. I 'm not clear on GE's WH favors other than the abomination of a tax law which benefits all types of special interests. Fed bond purchases are hurting everyone and benefiting I'm not certain who.
    21 Jan 2012, 11:33 AM Reply Like
  • Twest
    , contributor
    Comments (136) | Send Message
     
    GE received massive Government backed loans, as I recall, for more than $400 billion, that have not been repaid. They were new, long term loans, backed by the full faith and credit of the US Gov't. Whether or not that is a WH favor or not, it was a hand-out to GE to keep the system going. We can all research the news, but I remember it clearly as it was happening. GE was "saved".
    21 Jan 2012, 06:54 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Where did you come up with $400 billion? Please take a look at GE's balance sheet and tell me where it is hiding.
    21 Jan 2012, 07:32 PM Reply Like
  • Todd Johnson
    , contributor
    Comments (6952) | Send Message
     
    GE should close down shop. The company is a fiscal disaster. Management is non accountable. They are a group of 2nd class assets that an investor should cherry pick the industry leader. Pathetic Immelt performance. Stock performance reflects it.

     

    Immelt, on the other hand, would make a good politician. TJ
    21 Jan 2012, 02:41 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Please tell us how you really feel about GE.
    21 Jan 2012, 07:33 PM Reply Like
  • Todd Johnson
    , contributor
    Comments (6952) | Send Message
     
    Hi 7FootMoose, I always do. :) GE is a failed enterprise that should be shut down with C, AIG. TJ
    22 Jan 2012, 12:13 PM Reply Like
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