Word: ge
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...understand what I'm trying to say?" demands John Francis Welch Jr. The embattled chairman of General Electric puts an arm around a visitor's shoulders and spreads out an improbable set of papers. One shows that GE, with 222,000 employees in 100 countries, has had only three criminal convictions in the 13 years that Welch has run the company. Another points out that the U.S. Justice Department, which has been hounding GE lately, has had 140 of its employees prosecuted for corruption or other on-the-job offenses just since 1992. Yet another shows that GE is headed...
...Kidder, Peabody & Co. head Michael Carpenter was replaced by two GE executives as parent company General Electric tried to redeem the securities firm's stained image. The management shake-up followed a bond scandal in which a Kidder trader was accused of misreporting $350 million to bolster his bonus, as well as a projected second-quarter loss of up to $30 million...
...management shake-up today in a bid to regain some of its lost reputation. Kidder owner General Electric was rumored to be pondering whether to dump the poorly performing financial house, especially in light of recent allegations that the company's leading bonds trader had dramatically inflated actual profits. GE seems more committed than ever: along with the management shuffle, it recently sunk an additional $200 million into the enterprise...
...Pulp Fiction barged in, Cannes this year had no strong prize contenders. Instead, it presented a roundup of best directors' next-best films. The Chinese master Zhang Yimou sent To Live; the film, which spans 30 years of Maoist hard times, is beautifully observed and performed (the male lead, Ge You, won the Best Actor prize), but lacks the fiery power of Zhang's Ju Dou and Raise the Red Lantern. Nikita Mikhalkov intended his Burned by the Sun as a Russian Gone With the Wind, a story of country life amid the turmoil of tyranny, but it was meandering...
Setting the stage for what could turn into a rancorous takeover battle, Kemper Corp.'s board of directors on Thursday rejected a $2.2 billion bid from GE Capital Corp., angering some shareholders who had been eyeing GE's $55-per- share offer. GE would not say whether it would make a higher...