by The Associated Press | Mar 3, 2020 | Commercial & Industrial, CR Daily, Industry News
Jack Welch, who transformed General Electric Co. into a highly profitable multinational conglomerate and parlayed his legendary business acumen into a retirement career as a corporate leadership guru, has died. He was 84.
by The Commercial Record | Oct 23, 2019 | Commercial & Industrial, CR Daily, Industry News
Sacred Heart University has unveiled a new addition to the former General Electric headquarters, now its “West Campus” after the school bought the site in 2016 following GE’s relocation to Boston.
by Reuters | Oct 30, 2018 | Banking & Lending, CR Daily, Executive Briefing, Industry News
General Electric Co. slashed its quarterly dividend to a penny a share, said it would restructure its power unit and that it faced a deeper accounting probe as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate.
by The Associated Press | Aug 10, 2016 | Commercial & Industrial, CR Daily, Executive Briefing, Industry News
General Electric Co. could get more than $5 million in incentives from Rhode Island to build a high-tech office in Providence.
by Laura Alix | Jun 23, 2016 | Banking & Lending, In Person
Julia Anne Slom jokes that probably no little kid dreams of becoming a banker. She said at first, she didn’t intend to stay long in the industry either. After working in the petrochemical trading business, she earned an MBA and went to work for Fleet during a stressful time in the company’s history.
by The Associated Press | May 23, 2016 | Commercial & Industrial, Executive Briefing, Industry News
General Electric Co. said Monday it made a series of deals with Saudi Arabia worth more than $1.4 billion as part of the kingdom’s ambitious plan to wean itself off crude oil. GE said $1 billion worth of projects would be implemented by 2017 with the Saudi Arabian...
by Reuters | Apr 22, 2016 | Commercial & Industrial, Executive Briefing, Industry News
General Electric Co. reported a higher-than-expected quarterly profit on Friday, but a closely watched revenue measure declined, raising questions about the company’s full-year target. The industrial conglomerate said organic revenue, which excludes foreign exchange...
by Cassidy Norton | Feb 18, 2016 | Uncategorized
Welcome to the February issue of The Commercial Record! This month we take a look at everything real estate in the Nutmeg State – and it’s not all what you might expect. We could have called this one “The GE Issue,” as the topic is much on the minds of developers and...
by Jim Morrison | Feb 18, 2016 | Residential Real Estate
General Electric’s announcement last month that after 42 years, it will be selling its corporate headquarters in Fairfield and moving to Boston by 2018, made a big splash in the news – but economists say the move won’t rend the fabric of Fairfield County. GE announced...
by Steve Adams | Feb 18, 2016 | Commercial
It’s an increasingly familiar quandary in Connecticut commercial real estate circles: how to revive massive office complexes built during the heyday of the suburban migration that are lagging in demand as 21st-century workspaces? General Electric’s 526,000-square-foot...
by The Commercial Record | Feb 2, 2016 | Commercial & Industrial, Executive Briefing, Industry News
General Electric’s plan to relocate its corporate headquarters is credit positive for the city of Boston and credit negative for Connecticut, where the economic recovery lags the nation and the state has not regained the total jobs lost during the recession, according...
by Reuters | Jan 22, 2016 | Commercial & Industrial, Executive Briefing, Industry News
General Electric Co. on Friday reported an 8 percent drop in fourth-quarter earnings in its industrial businesses, hurt by weakness in divisions catering to the oil and gas sector. Shares of the U.S. conglomerate, which also reported lower-than-expected total revenue,...
by The Associated Press | Jan 15, 2016 | Commercial & Industrial, Executive Briefing, Industry News
Haier Group, the world’s biggest home appliance maker, is buying General Electric Co.’s appliance business for $5.4 billion to expand its U.S. and global presence. The acquisition announced Friday comes as Haier tries to transform itself into a premium...
by Reuters | Jan 15, 2016 | Uncategorized
General Electric Co’s decision to move its corporate headquarters from Connecticut to Boston will boost the city’s efforts to revitalize a once run-down district where mob boss James “Whitey” Bulger carried out some of his most notorious murders. But in Fairfield,...
by Steve Adams | Jan 13, 2016 | Commercial & Industrial, Executive Briefing, Industry News
General Electric is set to announce the relocation of its corporate headquarters to Boston, bringing hundreds of executives from one of the world’s largest manufacturers to a city bristling with high-tech job growth. Boston beat out a host of suitors including New...
by Reuters | Dec 21, 2015 | Commercial & Industrial, Executive Briefing, Industry News
General Electric Co. expects to announce a decision next month about whether it will move its headquarters out of Connecticut, a spokesman said on Sunday. GE Chief Executive Jeff Immelt had previously said the U.S. conglomerate planned to decide the future of its...
by Steve Adams | Dec 10, 2015 | Commercial & Industrial, Executive Briefing, Industry News
General Electric Co. has put Boston on its short list of landing spots for a new global headquarters as a self-imposed year-end deadline to make a decision approaches. The Fairfield-based conglomerate is eyeing sites in the Seaport District for a new headquarters that...
by Reuters | Dec 7, 2015 | Commercial & Industrial, Executive Briefing, Industry News
General Electric on Monday walked away from a $3.3 billion agreement to sell its appliances business to Sweden’s Electrolux, terminating the deal after months of opposition from U.S. antitrust regulators. GE said it would pursue other suitors for its century-old...
by Reuters | Nov 16, 2015 | Commercial & Industrial, Executive Briefing, Industry News
GE Aviation said on Monday it had teamed up with Textron Aviation to produce an all-new turboprop aircraft and engine for the general aviation market, part of an effort GE expects will generate up to $1 billion in annual sales of engines by around 2020. GE Aviation, a...
by Reuters | Nov 12, 2015 | Executive Briefing, Industry News
General Electric and Alstom have won contracts worth a combined $5.6 billion to supply India’s railways with new locomotives, as the vast but dilapidated state-owned network looks to foreign companies to help it modernize. France’s Alstom has been picked to supply 800...