Word: ge
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Dates: during 2000-2009
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...still never worked that GE was doing business with the same Citigroup that the man on the street was. All the money and imagination to put that company together were wasted...
...more competition is on the horizon. In the past two months, Goldman Sachs, Morgan Stanley, Raymond James, GMAC, American Express and business financier CIT have all applied to convert into bank holding companies, partly in order to be able to get access to cheap funding through deposits. GE Capital, the finance arm of GE, is planning on doubling its deposit base, which it garners through broker-sold CDs, to $81 billion next year. Goldman Sachs is on track to open an online bank. Morgan Stanley, which already has $36 billion in deposits, is selling billions of dollars' worth...
Lighting companies the world over are scurrying to capitalize on these shifts, including heavyweights Osram and GE. "The industry has been extremely proactive," says Russill of the Energy Saving Trust. Philips is making some of the biggest bets. Over the past two years, it has spent more than $4 billion on acquisitions aimed at positioning itself as a leader in digital, low-energy lighting. The plant outside Antwerp belonged to the consumer-lighting market leader Partners in Lighting, which Philips bought in 2006. The company followed that purchase a year later with the $2.7 billion acquisition of Genlyte...
...have a replacement candidate in mind to be the next Ikea CEO? No, I don't. We don't have a system like GE had, where they pinpointed three candidates. We should have two or three candidates, but we don't. I could have done a better job on it. I think about it all the time, and it's part of my responsibility. I still have work to do on that...
...starting to line up for bailout funds. Earlier this week, American Express filed to change its status to a bank-holding company, which would allow the credit-card giant to apply for TARP funds. Analysts estimate that AmEx could receive as much as $3.5 billion in federal aid. GE Capital is also reportedly looking into applying for a Treasury investment. The troubled finance unit of industrial giant General Electric could receive as much as an $18 billion investment. What's more, a number of members of Congress are pushing for TARP funds to be used to aid troubled automakers. President...