Word: immelt
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...amount of money it sets aside and let that flow to the bottom line. But if the higher returns never materialize, there will be an earnings hit later on. GE denies that it manages its earnings. "I don't want to be painted with that brush," CEO Jeffrey Immelt told analysts last week...
...JEFFREY IMMELT Can GENERAL ELECTRIC, the world's most profitable industrial company, continue its stunning record of innovation and profit? That's up to Immelt, 45, handpicked successor to the most influential CEO ever, Jack Welch. Immelt made his name boosting the fortunes of GE's Medical Systems business, and barely three months into his new job, he is already casting a large shadow. Despite the sour global economy, a debilitating advertising slump at NBC and a serious downturn in his jet-engine business, Immelt paid $2 billion in October for Spanish-language TV network Telemundo...
...look at the bright side. "I was chairman for two days, and then I had jets with my engines hit a building I insured, which was covered by a network I owned, and we are still growing 2001 earnings by 11%," General Electric's new chairman, Jeffrey Immelt, told an analyst meeting in New York City on Friday, after he slightly pared the company's growth outlook. "I think we're in pretty good shape. We're looking at this unmistakable tragedy as a time of strength for the company." In the next few months, Americans will learn whether...
...been feeding time for GE Capital, which is busy scooping up distressed assets, but it's a decidedly different experience for the $6.8 billion-in-sales NBC network. Like all other media, the network is suffering through a painful advertising slump. The current woes, however, haven't convinced Immelt, who's being counseled on the vagaries of the broadcasting business by NBC boss Robert Wright, that he has to marry NBC to a wider media portfolio, whether a Hollywood studio or a cable company. He says he has no plans to sell NBC, though he'd like to acquire more...
Perhaps, in retrospect, Immelt should have dressed a little snazzier for his coming-out party last November. Despite the fact that he and his boss both showed up wearing the same casual outfit--slacks, sports jacket and blue open-collared shirt--Immelt isn't a Welch clone. Where Welch is known for a blowtorch temper, Immelt is low-key and understated--more likely to tease employees than scold them to get his point across. "If you, say, missed your numbers, you wouldn't leave a meeting with him feeling beat up but more like you let your dad down," says...