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GE Capital Worth Up to $20 Billion

Posted: 06/26/09

By: tomgrisafi

This morning, the Dow Jones is reporting that GE Chairman and CEO Jeff Immelt told talk show host anchor, Charlie Rose of the "Charlie Rose" talk show on PBS that GE Capital, the financial services arm of General Electric, is undervalued by investors and that some estimates could be worth up to $20 billion.

Immelt said during the interview that GE Capital is probably worth $10 billion or $20 billion. He also said that it has been overvalued in the past. Later in the day, a GE spokeswoman clarified that Immelt referred to what analysts are the net worth of the financial services at, not what he thinks' the company is worth.

GE, the parent company of CNBC, has been hurt with a credit crisis with many analysts highlighting the financial unit as a source of trouble. Because of the current recession, the company has suffered writedowns and has been forced to cut its surplus.

According to the Dow Jones, Immelt outlined plans to downsize GE during the interview, and their plans to increase GE's dependence on technology. Immelt also said, "{GE} outsourced in places where we shouldn't."

Immelt also told Charlie Rose that revenues coming from outside the United States for GE will be increasing from 50% to 60% the Dow Jones is reporting.

GE has several types of businesses that are unrelated to the financial world, such as, energy, health, transportation, infrastructure, and industrial products. The Dow Jones also noted that executives at GE are hoping that the company will see an increase in revenue from the stimulus package given by the government.

"You know, my sense is that the stimulus has got to get faster," Immelt said according to the Dow Jones. "I think one of the things the president's going to have to grapple with is just, where does unemployment go over time, and how do we make sure that the stimulus gets to the right place so they can create jobs."

Source: CNBC

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Posted: 06/26/09

I get the feeling Immelt is going to thrive in his role as chief over there.


Posted: 06/26/09

Time to GET LONG!


Posted: 06/26/09

No... it isn't.


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