Daily News: October 13, 2014

GE Said to Achieve 75% Industrial Earnings Goal Late 2015

Based on a recent interview, Bloomberg reported that GE chief executive officer Jeffrey Immelt will keep divesting business lines next year as he pursues his vision of a “preeminent infrastructure company.”

Bloomberg notes that Immelt has said he wants GE’s high-margin industrial units to account for 75% of earnings, a goal he expects to achieve after completing the spin-off of its Synchrony Financial credit-card unit late next year.
Bloomberg quotes Immelt as saying, “We always are working to make GE Capital smaller. We’re going to continue to push out red assets. There may be small bits and pieces industrially, but we like where the industrial businesses are today.”

To read the entire Bloomberg article, click here.