Word: ge
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...Gordon Gekko might say today, green is good, and behemoths like GE and DuPont are carving profits out of a worldwide green-business market worth more than $600 billion. "This is a watershed moment in the business community," says Daniel Esty, director of the Center for Environmental Law and Policy at Yale University and co-author of the book Green to Gold. "The environment has become a strategic issue. It's something every company must do to stay competitive...
...moved into the vacuum, lured primarily by potential profits. In 2005 Goldman Sachs pledged to invest $1 billion in renewable energy, while Cleantech Venture Network estimates that $10 billion in venture capital will be directed to green technology from 2005 to 2009. Under CEO Jeff Immelt's Ecomagination initiative, GE has committed to spending $1.5 billion a year on renewable energy and other green research by 2010. That's already translating to sales today; the company reported revenues of $10.1 billion from environmental products in 2005, up from $6.2 billion in 2004. "What GE is doing is a bellwether," says...
Congress and the Centers for Medicare and Medicaid Services (CMS) have taken steps to rein in imaging. Beginning next year, imaging centers will see payment cuts that the industry and its manufacturing allies--GE, Siemens, Phillips--say will reduce some payments to 20% of the cost of doing them. To level the specialty-hospital playing field, CMS will pay hospitals more for their more complex cases. Similarly it proposes to pay ASCs at 62% the rate of hospital outpatient departments. The industry is asking for 75%. Lobbyists are racing to the scene...
...favors. "Management must first focus on fulfilling the promises made to their investors, customers and employees for the America West--US Airways merger," says Captain Kevin Kent, a representative of America West's pilots union. Then there's Delta's status as a bankrupt. That gives creditors like GE and Boeing a say in the matter, although Delta is the only entity that can make a reorganization or merger proposal to the bankruptcy court between...
Meanwhile, Swiss Re, which has a large U.S. presence after buying GE's reinsurance business, is breaking down the wall between investing and underwriting. By comparing its underwriting and investment portfolios, the company hopes to maximize profits from both sectors and minimize its overall risk...