Friday, April 11, 2008

GE Energy solid in Q1....

Spin it off, spin it off, spin it off.
From the Atlanta Business Chronicle:

General Electric Co.'s profit dropped 6 percent in the first quarter, but its Atlanta-based GE Energy unit fared better.

GE Energy posted segment profit of $907 million on $5.6 billion in revenue, compared with segment profit of $689 million on $4.7 billion in revenue in the first quarter of 2007....

..."Demand for our global Infrastructure business remained strong, but our financial services businesses were challenged by a slowing U.S. economy and difficult capital markets," said Jeff Immelt, GE chairman and CEO....