Hoovers - A D&B Company

General Electric Company (NYSE: GE)

The Basics

From turbines to TV, from household appliances to power plants, General Electric (GE) is plugged in to most of the businesses that have shaped the modern world. The company produces -- take a deep breath -- aircraft engines, locomotives and other transportation equipment, kitchen and laundry appliances, lighting, electric distribution and control equipment, generators and turbines, and medical imaging equipment. GE is also one of the largest financial services companies in the US, offering commercial finance, consumer finance, and equipment financing. Other operations include the NBC television network.

Key Information

D-U-N-S Number 001367960
Doing Business As "Ge"
Company Type Public - NYSE: GE
Location Type Headquarters
Year Of Founding or Change In Control 1892
State of Incorporation NY


Key Numbers

Fiscal Year-End December
Sales (mil.) $163,391.0
1-Year Sales Growth 8.8%
Net Income (mil.) $20,829.0
1-Year Net Income Growth 24.6%


Rankings/Stock Indexes

Officers and Employees

Corporate Officers

Title Name Age
Chairman and CEO Mr. Jeffrey R. (Jeff) Immelt 51
Director Sir William M. (Bill) Castell 59
Vice Chairman Mr. Robert C. (Bob) Wright 63
Vice Chairman; President and CEO, GE Commercial Finance; Chairman, GE Capital Services Mr. Michael A. (Mike) Neal 53
Vice Chairman; President and CEO, GE Industrial Mr. John G. Rice 50
Vice Chairman; President and CEO, GE Industrial Mr. Lloyd G. Trotter 61
SVP Finance and CFO Mr. Keith S. Sherin 48
SVP Human Resources Mr. John F. Lynch 54
SVP Corporate Business Development Ms. Pamela Daley 54
SVP and CIO Mr. Gary M. Reiner 51
SVP and Director of Global Research Dr. Mark M. Little 53
SVP and General Counsel Mr. Brackett B. Denniston III 59
SVP; President and CEO, GE Money Mr. David R. (Dave) Nissen 55
SVP; President and CEO, GE Consumer & Industrial Mr. James P. (Jim) Campbell
SVP; President and CEO, GE Healthcare Mr. Joseph M. (Joe) Hogan 50
SVP; President and CEO, GE Real Estate, GE Commercial Finance Mr. Michael E. Pralle 49
SVP; President and CEO, Americas, GE Money Mr. Mark W. Begor 47
SVP; President and CEO, Asia Mr. Yoshiaki Fujimori 54
SVP; President and CEO, GE Plastics, GE Industrial Ms. Charlene T. Begley 39
SVP; President and CEO, GE Aircraft Engines, GE Infrastructure Mr. Scott C. Donnelly 45
SVP; President and CEO, GE Energy, GE Infrastructure Mr. John Krenicki Jr. 44
SVP; President and CEO, GE Asset Management Mr. Ronald R. (Ron) Pressman 49
VP and Chief Diversity Officer Ms. Deborah (Deb) Elam 44
VP and Chief Intellectual Property Counsel Mr. Q. Todd Dickinson
VP and Chief Marketing Officer Mr. Daniel S. (Dan) Henson 44
VP and Comptroller Mr. Philip D. Ameen 58
VP Corporate Audit Staff Mr. Brian Worrell 36
VP Corporate Citizenship and Chief Learning Officer Mr. Robert L. (Bob) Corcoran
VP Corporate Investor Relations Mr. Daniel C. Janki 37
VP Corporate Risk and Financing Mr. Mark J. Krakowiak
VP Environmental Programs Mr. Stephen D. (Steve) Ramsey
VP Executive Development Ms. Susan P. Peters
VP Corporate Financial Planning and Analysis Mr. Shane Fitzsimons 38
VP Litigation and Legal Policy Mr. Jonathan P. Graham 46
VP Government Relations Ms. Nancy P. Dorn
VP and Senior Counsel, Antitrust Mr. Ronald A. Stern
VP and Senior Counsel, International Law and Policy Mr. R. Michael Gadbaw
VP and Senior Tax Counsel Mr. John M. Samuels
VP and Senior Counsel, Litigation and Legal Policy Mr. Alexander (Alex) Dimitrief
VP and Treasurer Ms. Kathryn A. (Kathy) Cassidy 52
VP; CEO, GE China Mr. Stefano P. (Steve) Bertamini 41
VP; President and CEO, Japan, GE Money Akihiko (Kiko) Kumagai 49
President and CEO, International Mr. Ferdinando F. (Nani) Beccalli-Falco 56
Chairman, President, and CEO, Genworth Financial Mr. Michael D. (Mike) Fraizer 48
President and CEO, GE India Mr. Scott R. Bayman
President and CEO, GE Latin America Mr. Edmundo M. Vallejo
President and CEO, Middle East and Africa Mr. Nabil A. Habayeb 46
President and CEO, Asia, GE Commercial Finance Mr. John L. Flannery Jr.
President and CEO, Fleet Services, GE Commercial Finance Ms. Kathryn V. (Kathy) Marinello
President and CEO, Corporate Financial Services, GE Commercial Finance Mr. Michael A. (Mike) Gaudino
President and CEO, GE Healthcare Financial Services, GE Commercial Finance Mr. Jeffrey (Jeff) Malehorn
President and CEO, Strategy and Integration, GE Infrastructure Mr. William A. (Bill) Woodburn 54
President, Corporate Financial Services, Bank Loans, GE Commercial Finance Mr. Ronald F. (Ron) Carapezzi
President, Corporate Lending, GE Commercial Finance Mr. Thomas M. (Tom) Quindlen 42
President and CEO, Capital Solutions, GE Commercial Finance Mr. Richard A. (Rich) Laxer
President, North America Equity, GE Commercial Finance Mr. Joseph E. (Joe) Parsons
President, GE Real Estate Europe, GE Commercial Finance Mr. Olivier Piani
President and CEO, Central and Eastern Europe, GE Money Mr. Dmitri L. Stockton 41
President and CEO, Europe, Middle East, and Africa, GE Money Mr. William H. (Bill) Cary 46
President and CEO, Retail Consumer Finance, GE Money Ms. Margaret M. Keane 46
President and CEO, Americas, GE Consumer & Industrial Ms. Lynn S. Pendergrass
President and CEO, Asia, GE Consumer & Industrial Mr. Darryl L. Wilson
President and CEO, Europe, Middle East, Africa, and India, GE Consumer & Industrial Mr. Andre Horbach
President and CEO, Global Diagnostic Imaging, GE Healthcare Mr. Mark L. Vachon
President and CEO, Clinical Systems, GE Healthcare Mr. S. Omar Ishrak
President and CEO, GE Healthcare Information Technologies, GE Healthcare Mr. Vishal K. Wanchoo 47
President and CEO, International, GE Healthcare Mr. Reinaldo A. Garcia
President and CEO, Japan, GE Healthcare Mr. Hiroyuki Mitani 52
President, China, GE Healthcare Dr. Chih Chen
President and CEO, Life Sciences, GE Healthcare Mr. Peter Ehrenheim 47
President and CEO, GE Equipment Services, GE Industrial Ms. Deborah M. (Debbie) Reif 50
President and CEO, GE Fanuc, GE Industrial Ms. Maryrose T. Sylvester
President and CEO, GE Security, GE Industrial Mr. A. Louis Parker
President and CEO, Sensing & Inspection Technologies, GE Industrial Ms. Caroline A. Reda
President and CEO, GE Advanced Materials Mr. Wayne M. Hewett
President and CEO, GE Commercial Aviation Services, GE Infrastructure Mr. Henry A. Hubschman
President and CEO, GE Energy Financial Services, GE Infrastructure Mr. J. Alex Urquhart
President and CEO, GE Rail, GE Infrastructure Mr. John M. Dineen
VP; President and CEO, Oil & Gas, GE Infrastructure Mr. Claudi Santiago
President and CEO, Water & Process Technologies, GE Infrastructure Mr. Jeff R. Garwood
Chairman, NBC Universal Sports and Olympics, NBC Universal Mr. Dick Ebersol
Chairman and CEO, Universal Parks and Resorts, NBC Universal Mr. Thomas L. (Tom) Williams
President and CEO, NBC Universal Mr. Jeffrey A. (Jeff) Zucker 41
President, GE Capital, Europe, GE Commercial Finance Mr. Charles E. Alexander 54
President, NBC Universal Television Stations, NBC Universal Mr. James W. (Jay) Ireland III 51
VP Global Risk Management, GE Capital Mr. James A. (Jim) Colica
President and COO, Universal Studios, NBC Universal Mr. Ron Meyer
Manager, Corporate Identity Ms. Lynn Eversgerd
Project Leader, Recruiting Communications Ms. Betty Granata
Senior Financial Analyst Mr. Gary L. Standerford
Executive Director, Communications and Public Affairs Mr. Gary Sheffer

Board

Title Name Age
Chairman and CEO Mr. Jeffrey R. (Jeff) Immelt 51
Director Sir William M. (Bill) Castell 59
Vice Chairman; President and CEO, GE Commercial Finance; Chairman, GE Capital Services Mr. Michael A. (Mike) Neal 53
Vice Chairman; President and CEO, GE Industrial Mr. John G. Rice 50
Vice Chairman Mr. Robert C. (Bob) Wright 63
Director Dr. James I. Cash Jr. 59
Director Ms. Ann M. Fudge 55
Director Mr. Claudio X. Gonzalez 72
Director Dr. Susan Hockfield 55
Director Ms. Andrea Jung 48
Director Mr. Alan G. (A.G.) Lafley 59
Director Mr. Robert W. (Bob) Lane 57
Director Mr. Ralph S. Larsen 68
Director Ms. Rochelle B. (Shelly) Lazarus 59
Director Mr. Sam Nunn 68
Director Mr. Roger S. Penske 70
Director Dr. Robert J. Swieringa 64
Director Mr. Douglas A. (Sandy) Warner III 69
Vice Chairman; President and CEO, GE Industrial Mr. Lloyd G. Trotter 61

Biographies

Jeffrey R. (Jeff) Immelt, Age 51

Title held since 2006: Chairman and CEO

Other Company Affiliations

Company Title Salary Bonus
Federal Reserve Bank of New York Director -- --
General Electric Capital Corporation CEO and Director -- --

Recent Work Highlights

Biography

Mr. Immelt joined GE in corporate marketing in 1982 after receiving a degree in applied mathematics from Dartmouth College and an MBA from Harvard University. He then held a series of leadership positions with GE Plastics in sales, marketing and global product development. He became a vice president of GE in 1989, responsible for consumer service for GE Appliances. He subsequently became vice president of worldwide marketing and product management for GE Appliances in 1991, vice president and general manager of GE Plastics Americas commercial division in 1992, and vice president and general manager of GE Plastics Americas in 1993. He became senior vice president of GE and president and chief executive officer of GE Medical Systems in 1996. Mr. Immelt became GE's president and chairman-elect in 2000, and chairman and chief executive officer in 2001. He is also a director of the Federal Reserve Bank of New York.

Source: Proxy, February 27, 2007

William M. (Bill) Castell, Age 59

Title held since 2006: Director

Other Company Affiliations

Company Title Salary Bonus
BP p.l.c. Non-Executive Director -- --

Recent Work Highlights

Biography

Sir William M. Castell, Former Vice Chairman, General Electric Company. Director since 2004. A graduate of the City of London College, Sir William joined Amersham plc in 1989 as Chief Executive. After GE acquired Amersham plc in April 2004, Sir William was appointed a vice chairman of the General Electric Company and became the CEO of GE Healthcare, the combination of the Amersham and the GE Medical businesses and, in July 2005, became the chairman of GE Healthcare. In April 2006 Sir William retired as a vice chairman of GE. Sir William was knighted in 2000 for services to the life sciences industry. He served in the United Kingdom from 1998 to 2003 as chairman of The Prince's Trust, a charity set up by the Prince of Wales in 1976. Sir William is currently chairman of the Wellcome Trust, a non-executive director of British Petroleum plc and a trustee of London's Natural History Museum. Sir William is an honorary fellow of Green College Oxford and an honorary fellow of the Academy of Medical Sciences. He has received honorary degrees from the University of Cardiff, King's College University of London, Brunel University and the University of Oxford.

Source: Proxy, February 27, 2007

Robert C. (Bob) Wright, Age 63

Title held since 2007: Vice Chairman

Other Company Affiliations

Company Title Salary Bonus
Damon Runyon Cancer Research Foundation Director -- --
General Electric Capital Corporation Director -- --
The Partnership for New York City Director -- --

Recent Work Highlights

Biography

Bob Wright is chairman of the board of NBC Universal, and vice chairman of the board, executive officer, and a member of the Corporate Executive Office of the General Electric Company. Wright joined NBC as president and chief executive officer on September 1, 1986, and was made chairman and CEO of the network in June 2001. He then served as chairman and chief executive officer of NBC Universal from May 2004 to February 6, 2007. Wright has had one of the longest and most successful tenures of any media company chief executive, celebrating more than two decades at the helm of one of the world's leading media and entertainment companies. Under his leadership, NBC was transformed from a broadcast network into a global media powerhouse with leadership in television programming, station ownership, and television production. During his successful tenure at the helm of NBC, Wright extended the broadcaster into cable and satellite, international, and new-media markets. At the same time, he significantly expanded the company's ownership of broadcast television stations, increasing its reach to over 30% of U.S. television households. In 2002, NBC completed three significant acquisitions: Telemundo, the nation's second-largest Spanish-language media company, with 16 owned-and-operated stations in the continental United States and Puerto Rico; television station KNTV, which provides NBC programming to the San Francisco/San Jose market; and Bravo, a leading entertainment network, reaching more than 80 million viewers across the nation. NBC Universal owns CNBC, which during Wright's tenure became the global leader in business news, providing real-time financial-market information to more than 86 million households in the United States and 340 million homes worldwide. In addition, MSNBC, NBC's joint venture with Microsoft, reaches 83 million U.S. cable subscribers and up to 24 million unique users each month on the Internet. Networks acquired as part of the Vivendi Universal Entertainment acquisition include the nation's most-watched basic cable network, USA Network, and SCI FI Channel. NBC Universal also has equity stakes in the A&E Network, the History Channel, and ValueVision's home shopping network, and a non-voting interest in Paxson Communications Corporation. Internationally, NBC Universal owns and operates a number of television channels offering entertainment programming across Europe and Latin America. Prior to his association with NBC and now NBC Universal, Wright served as president of General Electric Financial Services and, before that, as president of Cox Cable Communications. He has had a diversified career in general management, marketing, and broadcasting. Much of it has been with General Electric, NBC Universal's parent company. Wright has been the recipient of numerous honors, most recently the Visionary Award from the Museum of Television & Radio. In 2005, Wright received the Humanitarian Award from the Simon Wiesenthal Center for fostering tolerance and understanding through community involvement, educational outreach, and social action. Wright's past honors include the Distinguished Leadership in Business Award from Columbia Business School, the Golden Mike Award from the Broadcasters' Foundation, the Steven J. Ross Humanitarian of the Year award from the UJA-Federation of New York, and the Gold Medal Award from the International Radio & Television Society Foundation. He has been honored by the Center for Communication for his industry leadership and has received the Ad Council's Public Service Award in recognition of his commitment to public service in both the public and private sectors. He has also been inducted into the Broadcasting & Cable Hall of Fame. Wright is a founding member of the Global Leadership Group for BASCAP, the Business Alliance to Stop Counterfeiting and Piracy. He has been a leading figure in the global business community in raising awareness of the economic dangers of counterfeiting and piracy. He is on the board of trustees of the American Film Institute and the Museum of Television and Radio, and serves on the board of directors of the Motion Picture and Television Fund Corporation, the Damon Runyon Cancer Research Foundation, and the New York Center for Autism. He is an honorary trustee of the Foundation of American Women in Radio and Television. In addition, Wright is on the board of governors of New York-Presbyterian Hospital and is a member of the Society of New York Hospital Inc. Along with his wife, Suzanne, Wright serves as co-founder of Autism Speaks, a foundation dedicated to raising public awareness and research funds to find the answers to autism. Wright is a graduate of the College of the Holy Cross and the University of Virginia School of Law, where he received his LL.B. degree. He and Suzanne live in Connecticut and have three grown children.

Source: Company Web Site, 2007

Michael A. (Mike) Neal, Age 53

Title held since 2006: Vice Chairman; President and CEO, GE Commercial Finance; Chairman, GE Capital Services

Other Company Affiliations

Company Title Salary Bonus
GE Commercial Finance President and CEO -- --
GE Franchise Finance Corporation President and CEO, GE Commercial Finance -- --
General Electric Capital Corporation Director; President and CEO, GE Commercial Finance -- --

Recent Work Highlights

Biography

Michael A. Neal is President and Chief Executive Officer of GE Commercial Finance, an array of businesses that offer financial services and products to businesses of any size, with particular expertise in the mid-market segment. With assets of approximately $219 billion, GE Commercial Finance provides loans, operating leases, financial programs and other services. Previously, Neal was President and Chief Operating Officer of GE Capital Corporation. He is a Senior Vice President of GE Company, and a member of the Advisory Committee, Penske Truck Leasing Co., L.P. Neal has held various assignments at General Electric Company since he began in 1979. He joined GE Capital in 1987 as Vice President and General Manager of Vendor Financial Services. In 1990, he became General Manager of Commercial Equipment Financing. Under Neal's direction, Commercial Equipment Financing, the world's largest supplier of middle-market financing, recorded consistent growth, becoming one of the most profitable GE businesses. He was appointed Executive Vice President of GE Capital in 1994 and has been recognized for planning and implementing successful GE Capital core growth strategies, acquiring and building throughout Asia but notably in Japan, while driving Six Sigma and e-Business to deliver breakthrough productivity. Recently, he led the effort to acquire Heller Financial Services, which at $20 billion is largest-ever GE Capital acquisition. Neal is a member of the U.S. Advisory Board of the European Institute of Business Administration (INSEAD) and has recently been appointed to the board of trustees of Fairfield University. Neal is also a Trustee of the Georgia Tech Foundation and is on the Board of Stamford based Soundwaters. He has been the chairman of the GE Capital New York/Connecticut/New Jersey tri-state United Way campaign and participates in several local community volunteer activities through GE ELFUN. Neal received his B.S. degree from the Georgia Institute of Technology in 1975.

Source: Company Web Site, 2007

John G. Rice, Age 50

Other Company Affiliations

Company Title Salary Bonus
GE Industrial President and CEO, GE Infrastructure -- --
GE Infrastructure President and CEO -- --
General Electric Capital Corporation Director -- --

Recent Work Highlights

Biography

John G. Rice is Vice Chairman of GE and President & CEO of GE Infrastructure. This business segment includes Energy, Aviation, Rail, Oil & Gas, Water, Energy Financial Services, and Aviation Financial Services. Prior to his current position, Rice served as Vice Chairman of GE and President & CEO of GE Industrial. Rice began his General Electric career in 1978 as a member of the Financial Management Program, moving to the GE Corporate Audit Staff in 1981. In 1984 he joined GE Appliances, having various assignments in operations and consumer service. In 1992 Rice was named President and CEO of GE's Canadian appliance affiliate in Toronto, Canada. He assumed leadership of the GE Corporate Audit Staff in 1994, and a year later was appointed President of GE Plastics Asia/Pacific business headquarters in Singapore. Rice was appointed President and CEO, GE Transportation Systems in Erie, Pennsylvania, in September 1997. Rice was named President and CEO of GE Energy, a leading supplier of power generation technology, energy services, and energy management systems in November of 2000 through June of 2005. Rice earned a Bachelor of Arts degree in economics from Hamilton College in Clinton, New York, and currently serves on the Board of Trustees there. In addition, Mr. Rice is a trustee of Emory University, the Woodruff Arts Center, the Georgia Research Alliance, and the Walker School in Marietta, Georgia. In addition, he is past chairman of the Metro Atlanta Chamber of Commerce. He and his family live in Roswell, Georgia.

Source: Company Web Site, 2007

Lloyd G. Trotter, Age 61

Title held since 2006: Vice Chairman; President and CEO, GE Industrial

Other Company Affiliations

Company Title Salary Bonus
GE Industrial President and CEO -- --
Genpact Limited Director -- --

Recent Work Highlights

Biography

Lloyd G. Trotter is Vice Chairman of GE and President & CEO of GE Industrial. This $33 billion business segment includes Consumer & Industrial, Plastics, Security, Sensing & Inspection Technologies, GE Fanuc Automation and Equipment Services. Prior to this, Trotter was Executive Vice President, Operations, where he was responsible for leading efforts to lower structural cost and improve operational excellence across GE's businesses. Previously, Trotter was President and CEO of GE Consumer & Industrial, a $14 billion business that spans the globe as an industry leader in major appliance and lighting products, and in integrated electrical distribution equipment and systems. Trotter assumed leadership of that business following the merger of GE's Consumer Products, Industrial Systems and Supply businesses in January of 2004. Trotter began his GE career in 1970 as a field service engineer with GE Lighting. He subsequently held production and technology positions of increasing responsibility in GE's Lighting, Gas Turbine, Appliances and Electrical Distribution & Control (ED&C) businesses. He was elected to the position of Vice President and General Manager of Manufacturing for ED&C in 1990. In that role, he was responsible for the entire manufacturing process and for the integration of 40 production facilities throughout the world. In 1992, he became President and Chief Executive Officer of ED&C. He was named a GE Senior Vice President and the President and Chief Executive Officer of the new Industrial Systems business in 1998 when ED&C merged with GE Industrial Controls Systems. Trotter is a founding member of GE's African American Forum and is actively involved in numerous professional and community organizations. He represents GE for America's Promise, an organization whose aim is to increase volunteerism in support of youth, founded by Secretary of State Colin Powell. He is on the boards of the National Association of Manufacturers, the National Action Council for Minorities in Engineering (NACME), and the GE Foundation. Trotter is regularly recognized for his on-going commitment to volunteerism and mentoring. Trotter graduated from Cleveland State University with a bachelor's degree in Business Administration in 1972. In 2001, he received an honorary doctorate degree in Business Administration from that school. He resides in Connecticut with his wife Teri.

Source: Company Web Site, 2007

Keith S. Sherin, Age 48

Title held since 2006: SVP Finance and CFO

Other Company Affiliations

Company Title Salary Bonus
General Electric Capital Corporation CFO and Director -- --

Recent Work Highlights

Biography

Keith Sherin joined the GE Financial Management Program in Medium Steam Turbine after graduating from the University of Notre Dame in 1981. After three years, he joined the Corporate Audit Staff where he progressed to Executive Audit Manager and later Manager, Programs and Planning. Sherin earned an M.B.A. from Columbia University in 1991 and was promoted to Manager, Finance for Commercial Engine Operations at GE Aircraft Engines in early 1992. In mid-1993, Sherin was named Director, Finance for GE Plastics Europe, located in Bergen op Zoom, The Netherlands. In the fall of 1995, Sherin joined GE Medical Systems as Manager-Global Finance and Financial Services and was promoted to Vice President-Finance & Financial Services Operation for GEMS in June 1996. Sherin has been Senior Vice President, Finance, and Chief Financial Officer for General Electric Company since December 1998.

Source: Company Web Site, 2007

John F. Lynch, Age 54

Title held since 2007: SVP Human Resources

Biography

Lynch has been a GE leader for more than 15 years, the past five as the head of the human resource function for GE Healthcare. At Healthcare, Lynch helped to lead the successful integration of two major acquisitions, Amersham and Instrumentarium. Previously, Lynch headed HR at GE Global Consumer Finance, which is now GE Money. Before joining GE, Lynch spent 18 years as an HR leader in the commercial and retail finance subsidiary of Lloyds Bank in the United Kingdom. Lynch is a native of Scotland and was educated at Blairs College, Aberdeen, and at St. Andrew's College.

Source: Company Press Release, December 18, 2006

Pamela Daley, Age 54

Title held since 2004: SVP Corporate Business Development

Other Company Affiliations

Company Title Salary Bonus
General Electric Capital Corporation Director -- --
World Wildlife Fund Director -- --

Recent Work Highlights

Biography

Pamela Daley is Senior Vice President for Corporate Business Development. Daley was Senior Vice President and Senior Counsel for Transactions from 1991 to 2004. She joined GE in 1989 as Tax Counsel. Prior to joining GE, Daley was a partner of Morgan, Lewis & Bockius, where she specialized in domestic and cross-border tax-oriented financings and commercial transactions. She was an adjunct professor at the University of Pennsylvania Law School from 1982 through 1989, teaching Federal Income Taxation of Partners and Partnerships. Daley received her B.A. degree with highest honors from Princeton University in 1974 in Romance Languages and Literatures. In 1979, she graduated first in her class from the University of Pennsylvania Law School, where she served as Editor-in-Chief of the Law Review. She is a member of Phi Beta Kappa and Order of the Coif. Daley serves on the Board of Directors of General Electric Capital Corporation, the GE Foundation and the World Wildlife Fund. She is also a member of the Board of Overseers of the University of Pennsylvania Law School.

Source: Company Web Site, 2007

Gary M. Reiner, Age 52

Title held since 1996: SVP and CIO

Other Company Affiliations

Company Title Salary Bonus
Genpact Limited Director -- --

Biography

Gary M. Reiner is Senior Vice President and Chief Information Officer of GE, a position he has held since 1996. Reiner joined GE in 1991 as Vice President-Corporate Business Development where he was responsible for evaluating new business ideas and acquisitions, strategic planning, company-wide sourcing and driving best practices throughout the business. In 1996, he led the company's Six Sigma Quality initiative, driving process implementation and program execution across all GE businesses. As part of his current role, Reiner leads the GE information technology, sourcing and Lean Six Sigma efforts company-wide. Reiner received a B.A. in economics from Harvard in 1976 and earned an M.B.A. from Harvard Business School in 1980. He joined the Boston Consulting Group in 1980 and was elected a partner in 1986. His work there focused on strategic and process issues for high-technology businesses.

Source: Company Web Site, 2007

Mark M. Little, Age 53

Title held since 2005: SVP and Director of Global Research

Other Company Affiliations

Company Title Salary Bonus
GE Global Research SVP and Director -- --

Recent Work Highlights

Biography

At Global Research, some 2,500 people from virtually every major scientific and engineering discipline focus on the company's long-range technology needs. The organization has research facilities in the United States, India, China and Germany working in collaboration with GE businesses around the world. Prior to becoming Senior Vice President, Little was Vice President of GE Energy's power generation segment headquartered in Schenectady, New York. GE Energy is a world leading supplier of power generation equipment including gas, steam, wind and hydro turbine-generators, turnkey power plant services, gasification technologies and IGCC (integrated gasification combined cycle). In addition to Schenectady, key business locations for GE Energy include Greenville, South Carolina; Bangor, Maine; Tehachapi, California; Houston, Texas; Lachine, Canada; Salzbergen, Germany; Belfort and Bourogne, France. Mark holds B.S. and M.S. degrees in mechanical engineering from Tufts and Northeastern universities, respectively, and in 1982 earned a Ph.D. in mechanical engineering at Rensselaer Polytechnic Institute.

Source: Company Web Site, 2007

Brackett B. Denniston, Age 59

Title held since 2004: SVP and General Counsel

Other Company Affiliations

Company Title Salary Bonus
American Arbitration Association, Inc. Director -- --
General Electric Capital Corporation Director -- --

Recent Work Highlights

Biography

Counsel. He is responsible for the worldwide GE legal organization and for all GE legal operations, reporting directly to Mr. Immelt. He is a member of GE's Corporate Executive Council, the GE Capital Corporation Board of Directors and is chair of the Company's Policy Compliance Review Board. Mr. Denniston joined GE as Vice President, Senior Counsel For Litigation and Legal Policy in September 1996. Prior to joining GE, he was Chief Legal Counsel to Governor William F. Weld of Massachusetts from 1993 to 1996. His responsibilities included judicial selection, litigation, criminal justice issues and legislation. He was a partner, and earlier an associate, at Goodwin, Procter and Hoar in Boston (1974-1982, 1986-1993) where he specialized in complex civil litigation, securities matters and white-collar crime. He represented parties in matters ranging from insider trading cases, pharmaceutical prosecutions, securities fraud and banking cases. He was a member of the firm's Executive Committee and numerous other firm committees. From 1982 to 1986, Mr. Denniston was Chief of the Major Frauds Unit of the U.S. Attorney's Office, responsible for white-collar crime prosecutions, and a member of the Attorney General's White Collar Crime Operations Committee. He was awarded the Department of Justice's Director's Award for Superior Performance for his role in over one hundred successful prosecutions. Mr. Denniston served as a law clerk to the Honorable Herbert Y. Choy of the United States Court of Appeals for the Ninth Circuit in 1973-74. He is a summa cum laude graduate of Kenyon College and a magna cum laude graduate of Harvard Law School, where he was an editor of the "Harvard Law Review."

Source: Company Web Site, 2007

David R. (Dave) Nissen, Age 55

SVP; President and CEO, GE Money

Other Company Affiliations

Company Title Salary Bonus
GE Money President and CEO -- --
General Electric Capital Corporation Director; President and CEO, GE Consumer Finance -- --

Biography

David Nissen is the President and CEO of GE Money, a leading provider of credit services to retailers, auto dealers, and consumers in over 50 countries around the world. With assets of over $190 billion, GE Money offers private label credit cards and sales finance to the world's leading retailers and manufacturers, plus corporate cards for commercial customers, and personal loans, mortgages, automobile financing, and diversified financial products directly to consumers. Mr. Nissen joined GE Capital in 1981 in strategic planning and business development. In 1983, he joined Card Services where he held a variety of marketing and product leadership positions. In 1987, he was promoted to General Manager of Card Services where he was responsible for the leadership of GE's private label card business serving over 300 retailers and manufacturers. Under Mr. Nissen's direction, Card Services expanded its product lines into commercial cards and secured lending while adding new segments such as shop-at-home, department store, and international. From 1990 to 1993, Mr. Nissen was General Manager of U.S. Consumer Financial Services. In this role he led the 10th largest U.S. Visa/MasterCard bank in the U.S. (Monogram Bank). In 1993, Mr. Nissen was asked to take GE Money around the globe. GE Money now has operations on five continents with approximately 50,000 employees. Today, GE Money is the second largest business in GE and one of the largest financial services businesses in the world. Mr. Nissen was named an officer of GE in 1996 and Senior Vice President of GE in 2001. In October 2003, Mr. Nissen was named one of "Ten Retail Banking Heroes" by Retail Banker International. The publication cited Mr. Nissen as one of ten individuals who helped shape the consumer banking industry landscape during the period covering 1981-2003. Mr. Nissen holds a bachelor's degree from Northwestern University (Evanston, Illinois) and an MBA from the University of Chicago. He is on the board of the Stamford Hospital Corporation, and the Financial Services Roundtable. He lives in Stamford, Connecticut, and his hobbies include golf, tennis and jet skiing.

Source: Company Web Site, 2007

James P. (Jim) Campbell

Title held since 2005: SVP; President and CEO, GE Consumer & Industrial

Other Company Affiliations

Company Title Salary Bonus
GE Consumer & Industrial President and CEO -- --
GE Industrial President, GE Consumer & Industrial -- --

Recent Work Highlights

Biography

James P. Campbell is President and Chief Executive Officer of GE Consumer & Industrial, a $14 billion global business that employs 60,000 people around the world in more than 100 locations. Consumer & Industrial spans the globe as an industry leader in major appliance and lighting products, and in integrated electrical distribution equipment and systems. Before assuming his current position in November 2005, Campbell was President and CEO, GE Consumer & Industrial-Americas. In that role, he directed the manufacture, marketing and sale of appliances, lighting and industrial products across North and South America. He assumed the leadership of this $9 billion division following the merger of GE Consumer Products and GE Industrial Systems in January 2004. Campbell joined GE in 1981 as a Sales/Marketing trainee in GE Appliances' Northeast Region. He quickly moved into management roles as an area sales leader, merchandising manager and regional sales manager. Following his field experience, Campbell moved in 1992 to GE Appliances' Louisville headquarters to become Manager, Microwave Cooking Products and Product Manager, Built-In Cooking Products. He subsequently moved into roles of increasing responsibility leading marketing, sales and product management organizations before being appointed Vice President of Sales and Marketing and a GE Company Officer in 1999. In 2001 he was named President and CEO of GE Appliances. Campbell assumed the role of President and CEO of GE Consumer Products in September 2002 when GE merged its appliances and lighting businesses. Campbell earned a Bachelor of Science degree in Marketing from St. John's University and an MBA in Marketing Management from Hofstra University. He is on the boards of the National Electrical Manufacturers Association (NEMA) and the Frazier International History Museum and is an active member of the Louisville GE Volunteers chapter. Campbell and his family reside in Louisville, Kentucky.

Source: Company Web Site, 2007

Joseph M. (Joe) Hogan, Age 50

SVP; President and CEO, GE Healthcare

Other Company Affiliations

Company Title Salary Bonus
GE Healthcare President and CEO -- --

Biography

Joe Hogan is Senior Vice President and CEO of GE Healthcare, a $14 billion segment of General Electric Company. GE Healthcare is the global leader in medical diagnostic technology and biosciences. Joe began his career at GE in 1985, advancing through a series of leadership roles in sales, marketing and product development at GE Plastics. In March 1998, Joe was named President and CEO of GE Fanuc Automation North America, Inc., a global supplier of industrial controls systems headquartered in Charlottesville, VA, and a joint venture between GE and FANUC, Ltd. Japan. Joe was named President and CEO of GE Healthcare Technologies (formerly GE Medical Systems) in November 2000. Joe earned a B.S. degree in Business Administration from Geneva College and an MBA from Robert Morris University. He sits on the Boards of the New York Academy of Medicine, the Multiple Myeloma Research Foundation and the Advisory Board of the CDC (Center for Disease Control). Joe and his wife have three sons and they reside in Oconomowoc, Wisconsin.

Source: Company Web Site, 2007

Michael E. Pralle, Age 49

Title held since 2005: SVP; President and CEO, GE Real Estate, GE Commercial Finance

Other Company Affiliations

Company Title Salary Bonus
GE Commercial Finance President and CEO, GE Real Estate -- --
GE Real Estate President and CEO -- --
General Electric Capital Corporation President and CEO, Real Estate, GE Commercial Finance -- --

Recent Work Highlights

Biography

Michael E. Pralle is President and CEO of GE Real Estate, one of the industry's leading global sources for commercial real estate capital through Structured Finance, Equity and Capital Markets products. GE Real Estate has a portfolio of over $18 billion in assets, and is invested in more than 2,500 properties in 15 countries around the world.

Prior to becoming President of GE Real Estate Michael served as President of GE Equity, the business responsible for making common equity, preferred stock, and convertible debt investments in private companies in the US, Europe and Asia. GE Equity is a global business with over $5 billion in assets invested in more than 300 companies in 25 countries around the world.

Michael served as President GE Capital Asia Pacific, where he supervised GE Capital's activities in 15 countries across North and Southeast Asia. He held this position from August, 1993 until March, 1996.

From July, 1991 through August, 1993, Michael was Vice President and General Manager of Distribution Financial Services, a $1.5 Billion commercial automobile financing unit. He joined GE Capital in August, 1989 as Vice President Business Development on the corporate headquarters staff responsible for M&A activities for half the GE Capital businesses.

Prior to joining GE, Michael spent six years with management consultants, McKinsey and Co., working in their London and Hong Kong offices.

Michael attended Harvard University where he received his B.A. in Economics, magna cum laude, in 1978, and the Stanford Graduate School of Business where he received his M.B.A. in 1982 and was awarded an Arthur D. Little Fellowship.

Michael serves on the Board of Family Centers of Stamford and Greenwich, a non-profit community service organization and has been a member of Young President's Organization since 1994.

Source: Company Web Site, 2006

Mark W. Begor, Age 47

SVP; President and CEO, Americas, GE Money

Other Company Affiliations

Company Title Salary Bonus
GE Money President and CEO, Americas -- --
General Electric Capital Corporation President and CEO, Americas, GE Consumer Finance -- --

Biography

Mark Begor is Card Services President and Chief Executive Officer, GE Card Services, based in Stamford, Conn. In his current role, he is responsible for partnering with clients, as well as functional and process leaders, to help identify new opportunities to drive business growth and operational excellence.

Mark came to Card Services as Chief Operating Officer in January 2002 from NBC, where he served as Executive Vice President and Chief Financial Officer, reporting to NBC Chairman Bob Wright. Mark also served as the President for NBC Business Development and Interactive Media. While at NBC, Mark led all financial activities for NBC's $5.5 billion network, cable, station, international and Internet businesses, as well as business development and information technology. Most recently, he oversaw the network's pending $2.7 billion deal to acquire Telemundo Communications Group Inc.

An NBC executive since 1998, Begor handled a variety of significant business transactions at NBC, including the company's acquisition of equity stakes in Paxson Communications and ValueVision International. Before coming to NBC, Begor spent 18 years with General Electric. He was appointed a GE Company officer in December 1996 after spending two years as GE's manager of Investor Communications. While in the Investor Communications role, Begor reported to the CEO and CFO of GE and was a member of GE's Corporate Executive Council. Named Investor Relations Officer of the Year in 1997 and 1998 by Investor Relations magazine, Begor successfully led the company's communications with GE institutional and individual investors and Wall Street.

Begor began his career with GE in 1980 in the Financial Management Program. He joined GE's corporate audit staff in 1983, rising to the post of executive audit manager in 1987. Begor moved to GE Plastics in 1989 to become manager of Operations Analysis and Financial Support and was appointed director of Finance and Business Development for GE Plastics Pacific based in Singapore in 1990. In 1993, he was named general manager of GE Plastics' Global Sourcing and Petrochemicals operation, where he led the revitalization of the global plastics sourcing process until being named to the investor communications position in 1995.

Begor is a graduate of Syracuse University and holds a master's degree in business administration from Rennselaer Polytechnic Institute. He lives in Wilton, Conn. with his wife, Kristen, and their three children.

Source: Company Web Site, 2004

Yoshiaki Fujimori, Age 54

SVP; President and CEO, Asia

Other Company Affiliations

Company Title Salary Bonus
GE Money President and CEO, Asia -- --
General Electric Capital Corporation President and CEO, Asia, GE Consumer Finance -- --

Biography

Yoshiaki Fujimori is President and CEO, Asia responsible for working on behalf of all GE businesses to expand customer relationships and to develop new business markets across Asia. He is based in Tokyo, Japan. Fujimori joined GE Japan in October 1986 as Manager, Business Development. Since 1988 he has been in GE Medical Systems, successively holding General Manager and Global Manager positions in key segments including Nuclear Medicine, CT and MR. He spent seven years at the company's global headquarters in Milwaukee, WI, before returning to Tokyo as President and CEO, GE Medical Systems-Asia in October 1997. He was named a GE Company Vice President in 1997. From May 2001 to January 2003, Fujimori was President and CEO of GE Plastics, headquartered in Pittsfield, MA. Prior to joining GE, he spent 11 years with Nissho Iwai Corporation as an analyst and manager. Fujimori attended the University of Tokyo and received a bachelor's degree in petroleum engineering in 1975. He received an M.B.A. from Carnegie-Mellon Graduate School of Business.

Source: Company Web Site, 2007

Charlene T. Begley, Age 39

Title held since 2005: SVP; President and CEO, GE Plastics, GE Industrial

Other Company Affiliations

Company Title Salary Bonus
GE Industrial President and CEO, GE Plastics -- --
GE Plastics President and CEO -- --

Recent Work Highlights

Biography

Charlene Begley is president and chief executive officer of GE Plastics, which has its headquarters at Pittsfield, Mass. She was named to this position in July 2005. GE Plastics is a $7 billion global plastics materials supplier and distributor, serving customers in a variety of industries including aerospace, appliances, automotive, building and construction, data storage and optical media, medical, electrical and electronics devices, telecommunications, computers and peripheral devices, outdoor vehicles and devices, and packaging. The Plastics business employs about 11,000 people and operates some 60 manufacturing and technology facilities in 20 countries worldwide. Begley began her career at General Electric in 1988. She has held a variety of leadership roles within the company including vice president of operations at GE Capital Mortgage Services, quality leader and later chief financial officer at GE Transportation Systems, director of finance for GE Plastics-Europe, vice president of the Corporate Audit Staff and CEO at GE FANUC Automation. In January 2003, she was named president and CEO of GE Transportation's rail business. Begley serves on the World Economic Forum's Young Global Leaders and the Business Advisory Council at the University of Vermont. She is a graduate of the University of Vermont.

Source: Company Web Site, 2007

Scott C. Donnelly, Age 45

Title held since 2005: SVP; President and CEO, GE Aircraft Engines, GE Infrastructure

Other Company Affiliations

Company Title Salary Bonus
GE Aviation President and CEO -- --
GE Infrastructure President and CEO, GE Aircraft Engines -- --

Recent Work Highlights

Biography

Scott C. Donnelly is president and CEO for GE's Aviation business. Prior to his July 2005 appointment, Donnelly was senior vice president and director of GE Global Research, one of the world's largest and most diversified industrial research organizations, with facilities in the United States, India, China and Germany. Donnelly joined GE in 1989 as manager of Electronics Design Engineering for GE's Ocean Systems Division in Syracuse, NY. He went on to serve in leadership roles for the company, including engineering management positions with then-GE division of Martin Marietta in both Australia and the U.S. In 1995, he moved to GE's Industrial Control Systems business, where he held leadership positions as manager of Technology and System Development, and later general manager of Industrial Systems Technology. Donnelly was named a vice president of General Electric in 1997, responsible for Global Technology Operations at GE Healthcare. Donnelly is a 1984 graduate of the University of Colorado at Boulder, where he earned a bachelor's degree in electrical and computer engineering. He serves on the Engineering Advisory Committees at Stanford and Cornell Universities, the Center for Innovation in Minimally Invasive Therapy at Massachusetts General Hospital and is a member of the NIST Visiting Committee on Advanced Technology.

Source: Company Web Site, 2007

John Krenicki, Age 44

Title held since 2005: SVP; President and CEO, GE Energy, GE Infrastructure

Other Company Affiliations

Company Title Salary Bonus
GE Aero Energy President and CEO -- --
GE Energy President and CEO -- --
GE Infrastructure President and CEO, GE Energy -- --

Recent Work Highlights

Biography

John Krenicki, Jr., is President and CEO of GE Energy, a leading supplier of power generation technology, energy services and energy management systems. He was named to his current position in July 2005. Krenicki's General Electric career began in the Technical Marketing Program. Since then, he has progressed in the company through leadership roles at GE Plastics, Silicones and Structured Products. Krenicki was the CEO of GE-Bayer Silicones (a GE joint venture) in Erkarth, Germany, from 1997 to 1999. At that time, he was named a GE Company Officer and became a Vice President and General Manager of the Americas for GE Lighting. Krenicki was Vice President and General Manager of GE Superabrasives in Worthington, Ohio, before being promoted to President and CEO of GE Transportation Systems in June 2000. In January 2003, he was named a Senior Vice President of GE and President and CEO of GE Plastics. A year later, GE Silicones and GE Quartz were combined with GE Plastics to form GE Advanced Materials. Krenicki was President and CEO of GE Advanced Materials until July 2005. Krenicki earned a Bachelor of Science Degree in Mechanical Engineering from the University of Connecticut in 1984. He received a Master of Science Degree in Management from Purdue University.

Source: Company Web Site, 2007

Ronald R. (Ron) Pressman, Age 49

Title held since 2006: SVP; President and CEO, GE Asset Management

Other Company Affiliations

Company Title Salary Bonus
General Electric Capital Corporation Director; President and CEO, GE Insurance Solutions and Employers Reinsurance Corporation -- --

Recent Work Highlights

Biography

Pressman began his GE career in 1980 after graduating from Hamilton College. Key leadership roles in GE have included leading GE Capital Real Estate from 1997 to 2000. Prior to this he led GE Power Systems' Product Businesses and Technology Programs. He spent six years in Europe as CEO of GE Power Systems Europe and General Manager of GE's Central and Eastern European operations. Prior to his European experience, Ron spent three years on Wall Street leading the financial team of Kidder Peabody and Co. after GE's acquisition in 1987. Most recently, Ron was Chairman, President and CEO of GE Insurance Solutions, one of the world's leading providers of commercial insurance, reinsurance and risk management services. Ron led the recent sale of major portions of this business to Swiss Re and Berkshire Hathaway. The sale of GE Insurance Solutions to Swiss Re is expected to close in the second quarter of 2006.

Source: Company Press Release, May 15, 2006

Deborah (Deb) Elam, Age 44

Title held since 2006: VP and Chief Diversity Officer

Biography

Deborah Elam is Vice President & Chief Diversity Officer. Most recently, Elam was GE's Manager of Diversity & Inclusive Leadership. From 2000 to 2002, Elam was Managing Director of Human Resources for Corporate Financial Services within GE Commercial Finance. From 1997 to 2000, Elam was Managing Director of Human Resources for GE Capital Markets Services. She started with GE as a member of the Human Resources Leadership Program (HRLP) in 1987. Elam received her Masters' degree in Public Administration from Southern University in 1987 and her Bachelors' degree in Sociology from Louisiana State University in 1984.

Source: Company Press Release, February 24, 2006

Q. Todd Dickinson

VP and Chief Intellectual Property Counsel

Biography

Todd has more than 25 years of experience as an intellectual property lawyer, most recently as a partner in the law firm of Howrey Simon Arnold & White, where he helped lead the Intellectual Property Practice Group, focusing on counseling, licensing, prosecution, strategic portfolio management and government relations issues involving intellectual property. Todd also served as the Under Secretary of Commerce for Intellectual Property and Director of the U.S. Patent and Trademark Office as well as the principal Executive Branch policy advisor on intellectual property matters. Todd is a graduate of Allegheny College and the University of Pittsburgh School of Law.

Source: Company Press Release,

Daniel S. (Dan) Henson, Age 44

Title held since 2006: VP and Chief Marketing Officer

Recent Work Highlights

Biography

Dan Henson was named GE's Chief Marketing Officer in January 2006. He is responsible for driving sales and marketing excellence, sales force effectiveness, enterprise accounts, strategic marketing, advertising, branding and communications. He also leads cross-business marketing and sales initiatives including Imagination Breakthroughs, ecomagination and GE's Experienced Commercial Leadership Program. Dan, a 19-year GE veteran, previously served as the Chief Commercial Officer of GE Commercial Finance. Other leadership roles included President and Chief Executive Officer of GE Vendor Financial Services, President & CEO of GE Capital Fleet Services and President and General Manager of GE Capital Auto Financial Services. In 1999, he was named an officer of GE. Dan began his career with General Electric in 1987 as a District Marketing Manager for Vendor Financial Services, where he worked in a variety of sales, business development and management roles. Dan spent six years outside the U.S., leading GE teams in London for European Equipment Finance and in Mexico City for Commercial Equipment Finance. In 1998, he was named Chief Quality Officer of GE Capital, overseeing all Six Sigma quality initiatives. Dan is a graduate of George Washington University's School of Government and Business Administration in Washington, D.C. He lives in Connecticut with his wife and two children.

Source: Company Web Site, 2007

Overview

From turbines to TV, from household appliances to power plants, General Electric (GE) is plugged in to most of the businesses that have shaped the modern world. The company produces -- take a deep breath -- aircraft engines, locomotives and other transportation equipment, kitchen and laundry appliances, lighting, electric distribution and control equipment, generators and turbines, and medical imaging equipment. GE is also one of the largest financial services companies in the US, offering commercial finance, consumer finance, and equipment financing. Other operations include the NBC television network.

GE is organized into six-industry-focused lines: GE Money, GE Commercial Finance, GE Healthcare, GE Infrastructure, GE Industrial, and NBC Universal (80% owned).

CEO Jeff Immelt is emerging from the considerable shadow of his predecessor, Jack Welch, by not being shy about making sweeping changes. He has diverged somewhat from Welch's slavish obsession with the bottom line and encourages managers to innovate and take more risks. As a result, GE has been growing in such areas as biotech, renewable energy, nanotechnology, and digital technology. Immelt has, however, taken a page from his former boss' playbook by pursuing growth outside the US, particularly in emerging markets like India, China, Eastern Europe, Africa, and the Middle East.

Immelt has set about reshaping GE, spinning off its life and mortgage insurance businesses into a new entity, Genworth Financial, which went public in 2004; it completely divested its remaining stake in Genworth in 2006. Also that year, GE sold off most of its remaining insurance businesses, including GE Insurance Solutions and Employers Reinsurance, in a sale to Swiss Re. The company kept its US life reinsurance business.

Citing rising commodities costs, GE plans to sell its Advanced Materials unit, which makes silicone, quartz, and ceramics products, to Apollo Management and has indicated it will unload its plastics division as well.

Meanwhile, GE has also been building some of its traditional businesses through acquisitions. In early 2007 the company's aviation division acquired aircraft systems manufacturer Smiths Aerospace from Smiths Group. GE Energy bought oil and gas production equipment supplier Vetco Gray and US retail natural gas distribution network of Kinder Morgan, while GE Industrial struck an agreement to buy Microwave Data Systems. GE Healthcare is buying the diagnostics business of Abbott Labs, adding to another growth segment for GE.

Also in 2007 GE announced it is acquiring PHH Corporation; GE will retain the company's fleet management unit, PHH Arval, but will sell PHH Mortgage to Blackstone Group.

History

General Electric (GE) was established in 1892 in New York, the result of a merger between Thomson-Houston and Edison General Electric. Charles Coffin was GE's first president, and Thomas Edison, who left the company in 1894, was one of the directors.

GE's financial strength (backed by the Morgan banking house) and its research focus contributed to its initial success. Early products included such Edison legacies as light bulbs, elevators, motors, toasters, and other appliances under the GE and Hotpoint labels. In the 1920s GE joined AT&T and Westinghouse in a radio broadcasting venture, Radio Corporation of America (RCA), but GE sold off its RCA holdings in 1930 because of an antitrust ruling.

By 1980 GE had reached $25 billion in revenues from plastics, consumer electronics, nuclear reactors, and jet engines. But it had become rigid and bureaucratic. Jack Welch became president in 1981 and shook up the company. He decentralized operations and adopted a strategy of pursuing only high-achieving ventures and dumping those that didn't perform. GE shed air-conditioning (1982), housewares (1984), and semiconductors (1988), and with the proceeds acquired Employers Reinsurance (1984); RCA, including NBC (1986, but sold RCA in 1987); CGR medical equipment (1987); and investment banker Kidder, Peabody (1990).

In the early 1990s GE grew its lighting business. It bought mutual fund wholesaler GNA in 1993, and GE Investment Management (now GE Financial Network) began selling mutual funds to the public.

GE sold scandal-plagued Kidder, Peabody to Paine Webber in 1994. General Electric Capital Services (GECS) expanded its lines, buying Amex Life Insurance (Aon's Union Fidelity unit) and Life Insurance Co. of Virginia in 1995 and First Colony the next year. The company sold its struggling GEnie online service in 1996 and formed an NBC and Microsoft venture, the MSNBC cable news channel. In 1997 GE Engine Services bought aircraft engine maintenance firms Greenwich Air Services and UNC.

GE acquired Lockheed Martin's medical imaging unit in 1997 and added to the medical systems business with the 1998 purchase of Marquette Medical Systems. In 1998 GECS became the first foreign company to enter Japan's life insurance market when it bought assets from Toho Mutual Life Insurance and set up GE Edison Life.

In 1999 GECS bought the 53% of Montgomery Ward it didn't already own, along with the retailer's direct-marketing arm, as Montgomery Ward emerged from bankruptcy. (Ward declared bankruptcy again in 2000.) In 2000 it reorganized GE Information Systems to form an e-commerce unit, Global eXchange Services (GXS). (GE sold 90% of GXS to buyout firm Francisco Partners in 2002.)

Later in 2000 the company announced its biggest acquisition of the Welch era. Moving in at the last minute, GE trumped a rival bid from United Technologies and agreed to pay $45 billion in stock for manufacturing giant Honeywell International and to assume $3.4 billion in Honeywell debt.

Welch, by then viewed as one of the best corporate leaders in the US, had agreed to postpone his retirement from April 2001 until the end of that year in order to oversee the completion of the Honeywell acquisition. But European regulators, concerned about the potential strength of the combined GE-Honeywell aircraft-related businesses, blocked the Honeywell deal that summer. Welch then stepped down, and Jeff Immelt, formerly president and CEO of GE Medical Systems, succeeded him in September 2001.

Also in 2001 GE Capital expanded by buying commercial lender Heller Financial for $5.3 billion. The next year former business segment GE Industrial Systems acquired electronic security company Interlogix for $777 million.

In a move intended to provide a clearer picture for investors, Immelt in 2002 divided the former GE Capital into four units -- GE Commercial Finance, GE Consumer Finance, GE Equipment Management, and GE Insurance.

In 2003 GE acquired UK-based Amersham, a medical diagnostics and life sciences company, as well as First National Bank, Allbank, and the retail sales finance business of Conseco.

Industry Information

Hoover's Industries

Primary SIC Code

Primary NAICS Code

Competitors

Top Competitors

All Competitors

Products and Operations

2006 Sales
$ mil. % of total
Infrastructure 47,429 29
Industrial 33,494 20
Commercial finance 23,792 15
GE Money 21,759 13
Healthcare 16,562 10
NBC Universal 16,188 10
Corporate items & eliminations 4,167 3
Total 163,391 100
2006 Sales
$ mil. % of total
Sales of goods 64,297 39
GE Capital Services 60,154 37
Sales of services 36,403 22
Other 2,537 2
Total 163,391 100

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Company Financials

Financial Overview

Company Type Public - NYSE: GE
Headquarters
Fiscal Year-End December
Financial Filings SEC
2006 Sales (mil.) $163,391.0
1-Year Sales Growth 8.8%
2006 Net Income (mil.) $20,829.0
1-Year Net Income Growth 24.6%
Annual Report Company Web Site
Investor Relations Company Web Site

Annual Income Statement

All amounts in millions of US Dollars unless otherwise noted.

Dec 06 Dec 05 Dec 04 Dec 03 Dec 02
Revenue 163,391.0 150,242.0 152,866.0 134,187.0 131,698.0
Cost of Goods Sold 74,110.0 66,814.0 61,759.0 51,206.0 81,570.0
Gross Profit 89,281.0 83,428.0 91,107.0 82,981.0 50,128.0
Gross Profit Margin 54.6% 55.5% 59.6% 61.8% 38.1%
SG&A Expense 35,309.0 36,048.0 49,278.0 45,399.0 14,697.0
Depreciation & Amortization 9,158.0 8,538.0 8,385.0 6,956.0 5,998.0
Operating Income 44,814.0 38,842.0 33,444.0 30,626.0 29,433.0
Operating Margin 27.4% 25.9% 21.9% 22.8% 22.3%
Nonoperating Income -- -- -- -- --
Nonoperating Expenses 19,286.0 15,138.0 12,036.0 10,432.0 10,216.0
Income Before Taxes 24,620.0 22,718.0 20,480.0 19,904.0 18,891.0
Income Taxes 3,954.0 4,085.0 3,661.0 4,315.0 3,758.0
Net Income After Taxes 20,666.0 18,633.0 16,819.0 15,589.0 15,133.0

Continuing Operations 20,666.0 18,633.0 16,819.0 15,589.0 15,133.0
Discontinued Operations 163.0 (1,922.0) -- -- --
Total Operations 20,829.0 16,711.0 16,819.0 15,589.0 15,133.0
Total Net Income 20,829.0 16,711.0 16,819.0 15,002.0 14,118.0
Net Profit Margin 12.7% 11.1% 11.0% 11.2% 10.7%

Diluted EPS from Continuing Operations ($) -- -- -- -- --
Diluted EPS from Discontinued Operations ($) -- -- -- -- --
Diluted EPS from Total Operations ($) -- -- -- -- --
Diluted EPS from Total Net Income ($) 2.01 1.57 1.60 1.49 1.41
Dividends per Share 1.03 0.91 0.82 0.77 0.73

Quarterly Income Statement

All amounts in millions of US Dollars unless otherwise noted.

Quarter Ending Mar 07 Quarter Ending Dec 06 Quarter Ending Sep 06 Quarter Ending Jun 06 Quarter Ending Mar 06
Revenue 40,195.0 44,621.0 40,693.0 40,048.0 38,029.0
Cost of Goods Sold 16,851.0 19,838.0 18,468.0 18,143.0 17,661.0
Gross Profit 23,344.0 24,783.0 22,225.0 21,905.0 20,368.0
Gross Profit Margin 58.1% 55.5% 54.6% 54.7% 53.6%
SG&A Expense 9,424.0 9,258.0 8,726.0 8,849.0 8,476.0
Depreciation & Amortization 2,585.0 2,486.0 2,294.0 2,246.0 2,132.0
Operating Income 11,335.0 13,039.0 11,205.0 10,810.0 9,760.0
Operating Margin 28.2% 29.2% 27.5% 27.0% 25.7%
Nonoperating Income -- -- -- -- --
Nonoperating Expenses 5,699.0 5,272.0 5,139.0 4,527.0 4,348.0
Income Before Taxes 5,417.0 7,547.0 5,851.0 6,048.0 5,174.0
Income Taxes 907.0 968.0 889.0 1,100.0 997.0
Net Income After Taxes 4,510.0 6,579.0 4,962.0 4,948.0 4,177.0

Continuing Operations 4,510.0 6,579.0 4,962.0 4,948.0 4,177.0
Discontinued Operations (2.0) (3.0) (95.0) (2.0) 263.0
Total Operations 4,508.0 6,576.0 4,867.0 4,946.0 4,440.0
Total Net Income 4,508.0 6,576.0 4,867.0 4,946.0 4,440.0
Net Profit Margin 11.2% 14.7% 12.0% 12.4% 11.7%

Diluted EPS from Continuing Operations ($) -- -- -- -- --
Diluted EPS from Discontinued Operations ($) -- -- -- -- --
Diluted EPS from Total Operations ($) -- -- -- -- --
Diluted EPS from Total Net Income ($) 0.44 0.64 0.47 0.48 0.42
Dividends per Share 0.28 0.28 0.25 0.25 0.25

Annual Balance Sheet

All amounts in millions of US Dollars unless otherwise noted.

Assets Dec 06 Dec 05 Dec 04 Dec 03 Dec 02
Current Assets
Cash 62,101.0 9,011.0 15,328.0 133,388.0 8,910.0
Net Receivables 13,954.0 14,851.0 50,713.0 47,330.0 53,710.0
Inventories 11,401.0 10,474.0 9,778.0 8,752.0 9,247.0
Other Current Assets -- -- -- -- --
Total Current Assets 87,456.0 34,336.0 75,819.0 189,470.0 71,867.0
Net Fixed Assets 74,966.0 67,528.0 66,775.0 53,382.0 47,204.0
Other Noncurrent Assets 534,817.0 571,457.0 607,913.0 404,631.0 456,173.0
Total Assets 697,239.0 673,321.0 750,507.0 647,483.0 575,244.0
Liabilities and Shareholder's Equity Dec 06 Dec 05 Dec 04 Dec 03 Dec 02
Current Liabilities
Accounts Payable 29,823.0 46,771.0 30,995.0 37,180.0 20,769.0
Short-Term Debt 172,153.0 158,156.0 157,694.0 134,917.0 138,775.0
Other Current Liabilities 18,538.0 -- 17,539.0 -- 22,283.0
Total Current Liabilities 220,514.0 204,927.0 206,228.0 172,097.0 181,827.0
Long-Term Debt 260,804.0 212,281.0 212,670.0 195,725.0 140,632.0
Other Noncurrent Liabilities 103,607.0 146,762.0 220,788.0 200,481.0 189,079.0
Total Liabilities 584,925.0 563,970.0 639,686.0 568,303.0 511,538.0

Shareholder's Equity
Preferred Stock Equity -- -- -- -- --
Common Stock Equity 112,314.0 109,351.0 110,821.0 79,180.0 63,706.0
Total Equity 112,314.0 109,351.0 110,821.0 79,180.0 63,706.0
Shares Outstanding (mil.) 10,277.4 10,484.3 10,586.4 10,063.1 9,969.9

Quarterly Balance Sheet

All amounts in millions of US Dollars unless otherwise noted.

Assets Quarter Ending Mar 07 Quarter Ending Dec 06 Quarter Ending Sep 06 Quarter Ending Jun 06 Quarter Ending Mar 06
Current Assets
Cash 19,260.0 62,101.0 13,782.0 11,099.0 8,503.0
Net Receivables 28,189.0 13,954.0 12,535.0 12,043.0 12,558.0
Inventories 13,137.0 11,401.0 11,855.0 11,744.0 11,364.0
Other Current Assets -- -- -- -- --
Total Current Assets 60,586.0 87,456.0 38,172.0 34,886.0 32,425.0
Net Fixed Assets 77,746.0 74,966.0 72,246.0 71,005.0 67,684.0
Other Noncurrent Assets 575,748.0 534,817.0 571,647.0 556,546.0 574,756.0
Total Assets 714,080.0 697,239.0 682,065.0 662,437.0 674,865.0
Liabilities and Shareholder's Equity Quarter Ending Mar 07 Quarter Ending Dec 06 Quarter Ending Sep 06 Quarter Ending Jun 06 Quarter Ending Mar 06
Current Liabilities
Accounts Payable 25,755.0 29,823.0 23,813.0 24,154.0 23,527.0
Short-Term Debt 175,002.0 172,153.0 167,206.0 157,449.0 153,200.0
Other Current Liabilities 19,717.0 18,538.0 20,430.0 21,020.0 21,181.0
Total Current Liabilities 220,474.0 220,514.0 211,449.0 202,623.0 197,908.0
Long-Term Debt 275,071.0 260,804.0 242,927.0 236,935.0 222,970.0
Other Noncurrent Liabilities 104,366.0 103,607.0 116,307.0 114,087.0 146,462.0
Total Liabilities 599,911.0 584,925.0 570,683.0 553,645.0 567,340.0

Shareholder's Equity
Preferred Stock Equity -- -- -- -- --
Common Stock Equity 114,169.0 112,314.0 111,382.0 108,792.0 107,525.0
Total Equity 114,169.0 112,314.0 111,382.0 108,792.0 107,525.0
Shares Outstanding (mil.) 10,288.2 10,277.4 10,308.1 10,323.4 10,398.4

Annual Cash Flow

All amounts in millions of US Dollars unless otherwise noted.

Dec 06 Dec 05 Dec 04 Dec 03 Dec 02
Net Operating Cash Flow 30,646.0 37,641.0 36,484.0 30,289.0 29,488.0
Net Investing Cash Flow (51,402.0) (35,049.0) (38,414.0) (22,903.0) (61,949.0)
Net Financing Cash Flow 23,230.0 (6,119.0) 4,594.0 (3,632.0) 32,938.0
Net Change in Cash 2,474.0 (3,527.0) 2,664.0 3,754.0 477.0
Depreciation & Amortization 9,158.0 8,538.0 8,385.0 6,956.0 5,998.0
Capital Expenditures (16,650.0) (14,441.0) (13,118.0) (9,767.0) (13,351.0)
Cash Dividends Paid (10,420.0) (9,352.0) (8,278.0) (7,643.0) (7,157.0)

Quarterly Cash Flow

All amounts in millions of US Dollars unless otherwise noted.

Quarter Ending Mar 07 Quarter Ending Dec 06 Quarter Ending Sep 06 Quarter Ending Jun 06 Quarter Ending Mar 06
Net Operating Cash Flow 4,942.0 8,951.0 9,491.0 6,695.0 5,509.0
Net Investing Cash Flow (7,175.0) (16,508.0) (15,476.0) (13,055.0) (6,363.0)
Net Financing Cash Flow 7,218.0 7,864.0 8,701.0 5,491.0 1,174.0
Net Change in Cash 4,985.0 307.0 2,716.0 (869.0) 320.0
Depreciation & Amortization 2,585.0 2,486.0 2,294.0 2,246.0 2,132.0
Capital Expenditures (4,905.0) (5,605.0) (3,661.0) (4,400.0) (2,984.0)
Cash Dividends Paid (2,886.0) (2,589.0) (2,584.0) (2,616.0) (2,631.0)

Historical Financials

Income Statement
Year Revenue
($ mil.)		 Net Income
($ mil.)		 Net Profit
Margin		 Employees
Dec  2006 163,391.0 20,829.0 12.7% --
Dec  2005 150,242.0 16,711.0 11.1% 316,000
Dec  2004 152,866.0 16,819.0 11.0% 307,000
Dec  2003 134,187.0 15,002.0 11.2% 305,000
Dec  2002 131,698.0 14,118.0 10.7% 315,000
Dec  2001 125,913.0 13,684.0 10.9% 310,000
Dec  2000 129,853.0 12,735.0 9.8% 313,000
Dec  1999 111,630.0 10,717.0 9.6% 340,000

2006 Year-End Financials
Debt Ratio 232.2%
Return on Equity 18.5%
Cash ($ mil.) 62,101.0
Current Ratio 0.40
Long-Term Debt ($ mil.) 260,804.0
Shares Outstanding (mil.) 10,277.4
Dividend Yield 2.8%
Dividend Payout --
Market Cap ($ mil.) 382,421.0
Stock History
Year Stock Price ($) P/E Per Share ($)
FY
High		 FY
Low		 FY
Close		 High Low Earns. Div. Book
Value
Dec  2006 38.49 32.06 37.21 19 16 2.01 1.03 10.93
Dec  2005 37.34 32.67 35.05 24 21 1.57 0.91 10.43
Dec  2004 37.75 28.88 36.50 24 18 1.60 0.82 10.47
Dec  2003 32.42 21.30 30.98 22 14 1.49 0.77 7.87
Dec  2002 41.84 21.40 24.35 30 15 1.41 0.73 6.39
Dec  2001 53.55 28.50 40.08 39 21 1.38 0.66 5.52

Data Definitions

Market Data

Current Information

Last Close (11-May-2007) $36.97 Price/Sales Ratio 2.30
52-Week High $38.49 Price/Book Ratio 3.33
52-Week Low $32.06 Price/Earnings Ratio 18.39
60-Month Beta 0.7 Price/Cash Flow Ratio 12.64
Market Cap (mil.) $380,353.2 Return on Assets 3.0%
Shares Outstanding (mil.) 10,288.2 Return on Equity 18.9%
Dividend Rate 1.06 Current Ratio 0.28
Dividend Yield 106.0% Long-Term Debt/Equity 3.94
# of Institutional Holders 1,686 % Owned by Institutions 62.0%
Latest Short Interest Ratio 1.31 Latest Net Insider Transactions 5,644.00

Growth Rates 12 Month 36 Month 60 Month
Revenue Growth 11.5% 20.7% 31.5%
EPS Growth 22.6% 32.2% 42.6%
Dividend Growth 12.8% 35.9% 55.9%

Data Definitions

Comparison Data

Profitability Company Industry1 Market2
Gross Profit Margin 55.70% 33.60% 51.60%
Pre-Tax Profit Margin 15.00% 1.70% 6.40%
Net Profit Margin 12.60% 1.70% 5.10%
Return on Equity 18.9% 5.8% 9.6%
Return on Assets 3.0% 1.8% 1.5%
Return on Invested Capital 3.2% 3.3% 4.2%
Valuation Company Industry1 Market2
Price/Sales Ratio 2.30 1.82 2.29
Price/Earnings Ratio 18.39 23.45 19.35
Price/Book Ratio 3.33 2.31 2.23
Price/Cash Flow Ratio 12.64 17.07 13.60
Operations Company Industry1 Market2
Days of Sales Outstanding 62.15 64.62 57.46
Inventory Turnover 6.0 4.6 5.8
Days Cost of Goods Sold in Inventory 61 79 63
Asset Turnover 0.2 0.8 0.6
Net Receivables Turnover Flow 8.1 5.9 6.5
Effective Tax Rate 15.5% 13.7% 29.4%
Financial Company Industry1 Market2
Current Ratio 0.28 2.61 1.68
Quick Ratio 0.2 1.8 1.2
Leverage Ratio 0.63 0.20 0.24
Total Debt/Equity 3.94 0.32 0.62
Interest Coverage 2.20 13.54 5.30
Per Share Data ($) Company Industry1 Market2
Revenue Per Share 16.09 4.04 5.54
Fully Diluted Earnings Per Share
from Total Operations		 -- -- --
Dividends Per Share 1.06 0.38 0.65
Cash Flow Per Share 2.92 0.13 0.45
Working Capital Per Share (15.54) 1.90 0.58
Long-Term Debt Per Share 26.74 0.52 2.54
Book Value Per Share 11.10 3.07 5.04
Total Assets Per Share 69.41 4.89 10.44
Growth Company Industry1 Market2
12-Month Revenue Growth 11.5% 12.6% 12.6%
12-Month Net Income Growth 21.6% 22.8% 15.7%
12-Month EPS Growth 22.6% 19.9% 11.4%
12-Month Dividend Growth 12.8% 0.0% 0.0%
36-Month Revenue Growth 20.7% 42.9% 38.5%
36-Month Net Income Growth 37.1% 98.7% 48.6%
36-Month EPS Growth 32.2% 91.6% 43.4%
36-Month Dividend Growth 35.9% 0.0% 0.0%

2 Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.

Data Definitions

Competitive Landscape

KEY: Best of Group. Companies listed are Top Competitors.

Key Numbers GE Citigroup Philips Electronics Siemens AG
Annual Sales ($ mil.) 163,391.0 146,558.0 35,616.4 110,798.0 -- --
Employees -- -- -- 475,000 -- --
Market Cap ($ mil.) 380,353.2 262,705.4 -- -- -- --
Profitability GE Citigroup Philips Electronics Siemens AG Industry2 Market3
Gross Profit Margin 55.70% 102.90% 30.70% 26.90% 33.60% 51.60%
Pre-Tax Profit Margin 15.00% 18.90% 4.50% 5.00% 1.70% 6.40%
Net Profit Margin 12.60% 13.50% 20.00% 3.50% 1.70% 5.10%
Return on Equity 18.9% 17.7% 28.4% 11.0% 5.8% 9.6%
Return on Assets 3.0% 1.2% 15.6% 3.5% 1.8% 1.5%
Return on Invested Capital 3.2% 0.0% 20.6% 5.9% 3.3% 4.2%
Valuation GE Citigroup Philips Electronics Siemens AG Industry2 Market3
Price/Sales Ratio 2.30 1.69 1.30 0.96 1.82 2.29
Price/Earnings Ratio 18.39 12.44 6.72 27.44 23.45 19.35
Price/Book Ratio 3.33 2.15 1.53 2.85 2.31 2.23
Price/Cash Flow Ratio 12.64 -- 41.20 16.77 17.07 13.60
Operations GE Citigroup Philips Electronics Siemens AG Industry2 Market3
Days of Sales Outstanding 62.15 122.17 71.46 77.36 64.62 57.46
Inventory Turnover 6.0 -- 6.2 3.9 4.6 5.8
Days Cost of Goods Sold in Inventory 61 -- 59 93 79 63
Asset Turnover 0.2 0.1 0.8 1.0 0.8 0.6
Net Receivables Turnover Flow 8.1 3.3 5.5 4.8 5.9 6.5
Effective Tax Rate 15.5% 28.7% 11.3% 24.7% 13.7% 29.4%
Financial GE Citigroup Philips Electronics Siemens AG Industry2 Market3
Current Ratio 0.28 -- 1.64 1.32 2.61 1.68
Quick Ratio 0.2 -- 1.3 0.8 1.8 1.2
Leverage Ratio 0.63 0.40 0.10 0.17 0.20 0.24
Total Debt/Equity 3.94 6.68 0.17 0.53 0.32 0.62
Interest Coverage 2.20 1.44 4.59 113.08 13.54 5.30
Per Share Data ($) GE Citigroup Philips Electronics Siemens AG Industry2 Market3
Revenue Per Share 16.09 31.39 31.16 123.66 4.04 5.54
Fully Diluted Earnings Per Share
from Total Operations		 -- -- -- -- -- --
Dividends Per Share 1.06 2.06 0.68 1.47 0.38 0.65
Cash Flow Per Share 2.92 (4.36) 0.99 7.05 0.13 0.45
Working Capital Per Share (15.54) -- 6.74 17.92 1.90 0.58
Long-Term Debt Per Share 26.74 62.83 3.47 18.97 0.52 2.54
Book Value Per Share 11.10 24.68 26.57 41.50 3.07 5.04
Total Assets Per Share 69.41 408.57 44.48 128.82 4.89 10.44
Growth GE Citigroup Philips Electronics Siemens AG Industry2 Market3
12-Month Revenue Growth 11.5% 23.6% (1.1%) 21.9% 12.6% 12.6%
12-Month Net Income Growth 21.6% (15.6%) 109.2% 42.1% 22.8% 15.7%
12-Month EPS Growth 22.6% (13.2%) 123.2% 41.8% 19.9% 11.4%
12-Month Dividend Growth 12.8% 10.8% 26.1% 13.9% 0.0% 0.0%
36-Month Revenue Growth 20.7% 59.3% (2.3%) 28.7% 42.9% 38.5%
36-Month Net Income Growth 37.1% 9.9% 714.4% 35.7% 98.7% 48.6%
36-Month EPS Growth 32.2% 14.8% 0.0% 0.0% 91.6% 43.4%
36-Month Dividend Growth 35.9% 37.3% 82.1% 35.1% 0.0% 0.0%

1 Data unavailable.

Data Definitions