GE Profit meets expectations (Proving war pays)

GE Profit meets expectations

www.reuters.com

BOSTON (Reuters) - General Electric Co (GE.N: Quote, Profile, Research) posted a 4 percent rise in net profit on Friday, matching Wall Street expectations, with strong demand for heavy equipment from outside the United States offsetting the effects of a slowing domestic economy.

The second-largest U.S. company by market capitalization said profit rose at all of its units but health care, which was weighed by a U.S. regulatory change.

With global credit markets in turmoil and most major Wall Street banks suffering big losses, GE saw profits rise at its commercial finance and GE Money consumer finance arms. Executives said it had been able to demand higher interest rates for loans.

GE confirmed its forecast of "at least" 10 percent 2008 profit growth overall.

(visit the link for the full news article)



[edit on 18-1-2008 by DimensionalDetective]

Heh-no suprise there. Gee, I wonder how their profit margin keeps doing so well while we all keep struggling. That wouldn't be due to all the war financing would it? Nah, couldn't be.

Funy how they predict an ADDITIONAL 10% increase for 2008. Can anyone say IRAN WAR?

Unreal.

www.reuters.com
(visit the link for the full news article)

Let's see, the top 2 highest profit-generating corporations on the face of the earth today:

1)OPEC (world fuel)

2)GE (weapons, war supplies)


When are the people going to say enough is enough?

I can't tell if this war-profiteering is becoming more "in-your-face" BLATANT, or if I'm actually just starting to wake up to this sham.

War is NOTHING but big business for corporate elitists.

Disgusting.