From Barrons via Calculated Risk:
Barron's reports that a short-term institutional bond fund managed by GE Asset management has offered investors 96 cents on the dollar.
The GE fund, totaling $5 billion, is an "enhanced" cash fund, meaning it seeks to provide a slightly higher yield than a money-market fund while preserving principal and maintaining an asset value of $1 per share.While over at CNN Money we read this Dow Jones story:
UPDATE: GE CEO Sees 2007 Revenue At $175 Billion, Profit At $23 Billion
...Much of the growth will comes from businesses outside the U.S., GE executives have said.
Immelt, speaking at the World Energy Congress in
Rome, said the company should invest more heavily in developing new energy technologies, as it has with its health-care business.
UPDATE 1-INTERVIEW-GE Energy sees revenue topping $30 bln by '09
General Electric Co.'s energy arm expects revenues to jump 50 percent to top $30 billion by 2009, boosted by rising electricity demand and strong growth at its nuclear and renewable energy units, its CEO said.
Profits will grow faster than revenues in the next few years, GE Energy CEO John Krenicki told Reuters.
GE Energy, which supplies equipment, technology and services to the energy industry, has been benefiting from growing interest in nuclear power and renewable fuel sources as oil prices soar and demand for cleaner energy rises.
"When you put it all together, generally it's all growing," Krenicki said in an interview at the World Energy Congress in Rome. "In 24 months, we'll have a business that's going to be 50 percent bigger ... We're going to be in the $30 billion range by '09."...MORE