Daily News: June 1, 2012

GE Capital CEO Sees Pressure in Europe


The Wall Street Journal reported that at an investor conference this week, Mike Neal, head of GE Capital, forecasted an increase in pressure on the unit’s European operations, but said it is prepared for the trend as economic conditions worsen on the Continent.

The Journal quoted Neal as saying, “We actually thought Europe would be this bad, and we haven’t been disappointed.” Neal added, “If trends [in Europe] continue – and there’s no reason to think that they won’t – we will come under some pressure.”

To read the text of the Wall Street Journal story click here.