Fox Business reported a lawsuit against General Electric Company's Finance unit over its relationship with Thomas Petters will move to trial. According to the Fox Business report, Judge Paul Hyman refused to dismiss the federal lawsuit that accused...
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June 16, 2017, 07:22 AM
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GE announced that it has closed the sale of its French consumer finance business, GE Money Bank, and its operations in the French Overseas Territories (the DOMs) to an affiliate of Cerberus Capital Management L.P. The transaction represents ending...
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March 29, 2017, 07:12 AM
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GE announced that it has completed the spin-off and merger of Bank BPH’s Core Bank to Alior Bank, representing aggregate ending net investment (ENI) of approximately $3.6 billion at the end of the third quarter 2016. GE Capital retains the Bank BPH...
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November 07, 2016, 07:00 AM
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GE announced that it has completed the sale of GE Capital’s U.S. restaurant financing assets, through a series of separate transactions with regional buyers first announced in June 2016. These combined transactions represent an ending net investment...
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September 20, 2016, 07:00 AM
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GE continues to quickly and successfully execute the transformation of GE Capital into a smaller, more focused financial services firm. Today, GE filed its request to the Financial Stability Oversight Council (FSOC) for rescission of GE Capital’s...
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March 31, 2016, 07:34 AM
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GE (NYSE:GE) has signed an agreement to sell its commercial lending and leasing business in Japan, including Capital Finance, Fleet Service and Vendor Finance, to Sumitomo Mitsui Finance and Leasing (SMFL), a member of Sumitomo Mitsui Financial Group...
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December 15, 2015, 07:10 AM
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GE announced that it has completed more than $100 billion in previously announced portfolio and business unit sales as part of its strategy to significantly reduce the size of GE Capital and apply for de-designation as a systemically important...
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December 10, 2015, 07:05 AM
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GE has signed an agreement to sell its equipment lending and leasing business in Mexico to Linzor Capital Partners, a leading pan-regional private equity firm that focuses on Latin American middle market investments. The transaction includes...
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December 07, 2015, 07:10 AM
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GE announced that it has signed a memorandum of understanding (MOU) for the potential sale of its Equipment Finance and Receivable Finance businesses in France and Germany to Banque Fédérative du Crédit Mutuel (BFCM), representing ending net...
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December 03, 2015, 07:10 AM
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GE has signed an agreement to sell a portfolio of first lien mortgage loans from its UK Home Lending business, representing aggregate ending net investment (ENI) of approximately US$5.8 billion, to an investment consortium made up of opportunistic...
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November 23, 2015, 07:00 AM
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GE has reached an agreement to sell GE Capital’s Commercial Lending and Leasing portfolios in Australia and New Zealand (A&NZ) to Sankaty Advisors, the global credit affiliate of Bain Capital, advised and partially financed by Deutsche Bank. The...
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November 09, 2015, 07:10 AM
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Bloomberg reported General Electric beat analysts’ third-quarter earnings estimates, buoyed by gains in the aviation and transportation units. However, sales fell short of projections. According to the Bloomberg report, GE’s oil and gas revenue...
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October 16, 2015, 08:00 AM
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GE has reached an agreement to sell GE Capital’s global Commercial Distribution Finance, North American Vendor Finance and Corporate Finance platforms to Wells Fargo. The sale includes ending net investment (ENI) of approximately $30 billion (about...
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October 13, 2015, 11:05 AM
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According to an exclusive Reuters report, GE is in advanced talks to sell a specialty finance portfolio, worth more than $30 billion, to Wells Fargo & Co, according to a person familiar with the matter.According to the Reuters report, Wells Fargo has...
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October 12, 2015, 07:15 AM
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GE announced that it has reached an agreement to sell its fixed-wing Corporate Aircraft financing portfolio in the Americas to Global Jet Capital, a provider of financing solutions for the private aircraft market. “We are excited to sell our...
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October 06, 2015, 07:15 AM
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Wells Fargo & Company (NYSE: WFC) announced that its railcar finance, leasing and fleet management business, First Union Rail, has signed an agreement to purchase GE Railcar Services from GE Capital. The transaction, which will add to the existing...
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October 01, 2015, 07:21 AM
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Shipments and retail registrations of recreational vehicles (RVs) are both up, according to data from the Recreational Vehicle Industry Association (RVIA) and Statistical Surveys Inc. (SSI). These metrics have positive implications for the RV...
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September 23, 2015, 06:56 AM
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GE [NYSE:GE] has completed the previously announced sale of its European Sponsor Finance business, representing aggregate ending net investment (ENI) of approximately US$2.1 billion, to Sumitomo Mitsui Banking Corporation Europe (SMBCE). GE has also...
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September 17, 2015, 07:05 AM
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Bloomberg reported KKR & Co. and Apollo Global Management are seeking to acquire GE's inventory finance arm, a unit with $11 billion in assets people familiar with the matter said.According to Bloomberg, the buyout firms made bids two weeks ago for...
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September 14, 2015, 07:07 AM
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GE announced that it has reached an agreement to sell its GE Capital, Transportation Finance business in the U.S. and Canada to BMO Financial Group (BMO). “With the sale of our Transportation Finance business to BMO, we have again found a buyer with...
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September 11, 2015, 07:30 AM
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Reuters reported Japanese banks are among bidders for GE's local commercial lending and leasing operation, sources told Reuters on Friday.According to the Reuters report, Orix Corp. and the leasing units of Sumitomo Mitsui Financial Group, Mitsubishi...
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September 04, 2015, 08:00 AM
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Element Financial Corporation announced that it has closed the U.S.-based portion of the previously announced acquisition of the remaining North American fleet management operations of General Electric Capital Corporation and expects to close the...
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September 01, 2015, 07:07 AM
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Bloomberg reported Wells Fargo has emerged as the front-runner to buy GE's railcar-financing unit, people with knowledge of the matter said.According to the Bloomberg report, an agreement to buy the business, with more than $4 billion in assets...
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August 28, 2015, 07:08 AM
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GE announced that it has completed the previously announced sale of its U.S. Sponsor Finance business and a bank loan portfolio, representing aggregate ending net investment (ENI) of approximately $10 billion, to Canada Pension Plan Investment Board...
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August 24, 2015, 07:06 AM
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North Star Leasing has expanded its office staff by adding the following employees: Colin Rugg, Kathy Collatos and Kit Antinozzi. Rugg has joined as a Business Development Specialist. He graduated from Champlain College with a degree in Business....
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August 14, 2015, 07:11 AM
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GE announced that it has reached an agreement to sell $8.5 billion of healthcare-related loans and its Healthcare Financial Services (HFS) U.S. lending business to Capital One for approximately $9 billion. Separately, GE has signed an agreement with...
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August 12, 2015, 07:15 AM
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In an exclusive report, Reuters reported Capital One Financial is in exclusive talks to acquire General Electric Co's U.S. healthcare finance unit, in a deal likely to top $10 billion, according to people familiar with the matter.According to the...
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August 07, 2015, 07:15 AM
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The powersports industry, which includes motorcycles, all-terrain vehicles (ATV), utility-terrain vehicles (UTVs), snowmobiles, and personal watercraft, is robust and continues to grow according to dealer performance data from Commercial Distribution...
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July 29, 2015, 07:07 AM
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Bloomberg reported Capital One Financial Corp. and Apollo Global Management are poised to make final bids for General Electric Co.’s health-care finance unit, people with knowledge of the matter said.According to the Bloomberg report, final offers...
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July 27, 2015, 07:05 AM
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Element Financial announced that the United States Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”) with respect to the Company’s pending...
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July 24, 2015, 06:59 AM
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Commercial Distribution Finance (CDF), a division of GE Capital, announced that it has extended its strategic inventory finance program with outdoor power equipment manufacturer Husqvarna Group. The program goes to market as Husqvarna Financial...
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July 24, 2015, 06:56 AM
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The Federal Reserve Board on Monday issued a final order that establishes enhanced prudential standards for General Electric Capital Corporation (GECC), a nonbank financial company designated by the Financial Stability Oversight Council (FSOC) for...
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July 21, 2015, 07:15 AM
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Bloomberg reported General Electric Co. is getting more bullish about profit prospects from industrial operations as Chief Executive Officer Jeffrey Immelt accelerates efforts to shrink the GE Capital finance unit.According to the Bloomberg report...
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July 17, 2015, 07:11 AM
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Bloomberg reported General Electric will seek initial bids for its Japanese leasing business in late August, said people with knowledge of the situation.According to the Bloomberg report, GE will distribute documents with information on the business...
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July 10, 2015, 07:11 AM
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In an 8-K filing, GE provided an update on the charges the company has taken in connection with its plan to exit most GE Capital assets over the next couple years. According to the 8K filing, on April 10, 2015, General Electric Company ("GE")...
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July 08, 2015, 06:17 AM
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Reuters reported GE Capital Chief Executive Keith Sherin told Reuters in an interview Tuesday that he expects the pace of GE Capital asset sales will accelerate in the third quarter.Reuters notes that a hefty portion of the businesses that have yet...
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July 01, 2015, 07:11 AM
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GE announced that Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE), a wholly owned subsidiary of Sumitomo Mitsui Banking Corporation (SMBC) has made an agreed offer to acquire GE’s European Sponsor Finance business for approximately US$2.2...
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June 30, 2015, 07:10 AM
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GE announced today that it has reached an agreement to sell its U.S., Mexico, Australia and New Zealand fleet businesses to Element Financial Corporation for US$6.9 billion. Separately, GE has signed a memorandum of understanding for the potential...
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June 29, 2015, 07:10 AM
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Bloomberg reports that Capital One Financial Corp. and Apollo Global Management have made offers for General Electric Co.’s health-care finance unit, which could fetch more than $11 billion, according to people familiar with the matter.In addition...
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June 26, 2015, 07:10 AM
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The Wall Street Journal reported Sumitomo Mitsui Financial Group (SMFG) is interested in General Electric's U.S. railway-leasing business, according to people familiar with the matter. According to The Wall Street Journal report, GE Capital Rail...
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June 23, 2015, 07:15 AM
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GE announced its GE Capital Real Estate business has now completed transactions totaling $9.5 billion with Blackstone, Wells Fargo, Shinsei Bank Limited and other buyers for portfolios in Canada, Japan, Germany, U.K. and the U.S. As announced on...
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June 18, 2015, 07:06 AM
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GE Capital Aviation Services (GECAS) announced a firm order for 60 Airbus A320neo family aircraft. All of the aircraft will be powered by CFM’s LEAP-1A engine.The agreement was jointly announced today at the Paris Air Show by GECAS President and CEO...
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June 15, 2015, 07:12 AM
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Bloomberg reported Wells Fargo and Toronto-Dominion Bank are exploring offers for a batch of U.S. commercial-lending businesses.According to the Bloomberg report, Capital One Financial Corp. and U.S. Bancorp are also weighing bids for the businesses...
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June 12, 2015, 07:10 AM
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The Wall Street Journal reported Wells Fargo & Co.’s wholesale-banking head, Timothy Sloan, said the bank expects continued growth through acquisitions, such as buying portfolios or selectively buying businesses.According to The Wall Street Journal...
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June 11, 2015, 07:18 AM
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GE announced today that it has reached an agreement to sell its U.S. Sponsor Finance business and a $3 billion bank loan portfolio to Canada Pension Plan Investment Board (CPPIB) in a transaction valued at approximately $12 billion.“We are excited to...
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June 09, 2015, 07:00 AM
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Bloomberg reported GE. is poised for a $12 billion deal as soon as Monday to sell more than half of its U.S. private-equity lending arm to Canada Pension Plan Investment Board while Ares Management LP seeks to buy the rest of that business, people...
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June 08, 2015, 07:10 AM
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Bloomberg reported General Electric has put virtually all of its U.S. commercial loan businesses on the market after hiring banks to unload $20 billion of assets in its health-care, railcar and franchise finance divisions, according to people with...
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June 04, 2015, 07:16 AM
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Reuters reported that General Electric is prioritizing the sale of businesses that provide lending to U.S. and European private equity firms, and to healthcare-related businesses, GE Capital's top executive said on Wednesday.Reuters reported that...
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May 28, 2015, 07:07 AM
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GE said that it is in advanced talks to sell assets in the $9 billion vehicle fleet-management business to Element Financial Corp., Bloomberg reported citing people familiar with the matter.Quoting the people, the Bloomberg report said that no deal...
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May 27, 2015, 07:20 AM
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Bloomberg reported General Electric is running ahead of schedule on its plan to shed the bulk of its lending unit, with about $100 billion of assets to be unloaded this year.The Bloomberg report notes Chief Executive Officer Jeffrey Immelt stated he...
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May 21, 2015, 07:10 AM
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The Wall Street Journal reports General Electric Co. is putting its $5 billion Japanese commercial finance operation, a key piece of GE Capital’s Asia operations, up for sale according to people familiar with the situation.According the The Wall...
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May 13, 2015, 07:12 AM
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The Wall Street Journal reports that General Electric Co. has taken steps to prevent key employees at GE Capital from leaving the company offering retention bonuses to select executives, according to people familiar with the matter. The Wall Street...
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May 08, 2015, 07:12 AM
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Reuters reported that General Electric is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.According to...
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April 21, 2015, 07:04 AM
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Bloomberg reported General Electric has held talks with “a broad geographic spectrum” of sovereign wealth funds as part of the effort to sell the bulk of its lending business, Chief Financial Officer Jeff Bornstein said.According to the Bloomberg...
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April 20, 2015, 07:10 AM
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GE today announced that it will create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its world-class industrial...
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April 10, 2015, 07:07 AM
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The Wall Street Journal reports that General Electric Co. is considering making deeper cuts to GE Capital, having decided the returns from lending are no longer worth the ire it provokes among investors, people familiar with the matter said.According...
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March 12, 2015, 07:00 AM
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GE announced today second-quarter 2014 operating earnings of $3.9 billion, with operating earnings per share of $0.39, up 8% from the second quarter of 2013. GAAP earnings from continuing operations were $3.6 billion, with earnings per share of $0.35...
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July 18, 2014, 07:02 AM
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Washington Federal has named Michael Brown as Arizona Regional President, announced Roy Whitehead, Washington Federal’s Chairman, President and CEO. In his new role, Brown will be responsible for all Company operations and activity throughout the...
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May 01, 2014, 07:03 AM
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GE announced Michael F. Silva has been appointed vice president, chief regulatory officer & compliance leader, GE Capital. He starts on December 2 and will report operationally to GE Capital Chairman & CEO Keith Sherin and functionally to GE's...
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November 25, 2013, 07:03 AM
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According to a regulatory filing, General Electric Company (GE) announced that it intends to pursue an initial public offering (IPO) of its North American Retail Finance business (Retail Finance) as a first step in a staged exit from that business....
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November 18, 2013, 07:09 AM
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GE Capital's Transportation Finance business and Clean Energy Fuels Corp., the largest provider of natural gas fuel for transportation in North America, have entered into a strategic alliance to accelerate the conversion of heavy-duty trucking fleets...
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October 22, 2013, 06:59 AM
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GE announced Marisa Harney has been appointed vice president and chief risk officer of GE Capital Americas, GE Capital’s North American lending and leasing business. In this role, Marisa will lead the independent risk team responsible for managing...
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August 08, 2013, 07:02 AM
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Reuters reported the U.S. financial risk council on Tuesday said it has designated American International Group and GE Capital as systemically risky, bringing them under stricter regulatory oversight. The Financial Stability Oversight Council's...
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July 10, 2013, 07:00 AM
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According to the GE Capital 2Q 2013 Construction Industry Research Monitor, the housing recovery strengthened in 2012 and is expected to experience additional but more gradual growth in 2013, supported by low mortgage rates. The report notes...
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July 09, 2013, 07:02 AM
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GE Capital, Corporate Finance announced that the teams specializing in the purchase and sale of equipment loans and leases in the secondary market will now collectively report to Lou Vigliotti, senior managing director, Capital Markets. The...
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June 18, 2013, 07:00 AM
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Chairman and CEO Jeff Immelt announced the appointment of Keith Sherin as chairman and CEO of GE Capital, succeeding Mike Neal, who is retiring. Immelt also announced that GE Capital CFO Jeff Bornstein will succeed Sherin as CFO of GE. The...
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June 13, 2013, 06:45 AM
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The Wall Street Journal reported that Michael Neal, GE Capital Chief Executive, said that he expects the the finance unit to be designated “systemically important” by U.S. financial regulators soon.
According to the Wall Street Journal report...
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June 03, 2013, 07:05 AM
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Reuters reported Kristi Colburn, global head of GE Capital Markets, will retire from the company effective the end of June after 19 years with the company.Additionally, according to the Reuters report, Stewart Koenigsberg will succeed Colburn as...
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May 30, 2013, 06:37 AM
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On an item posted to the Fox Business news website, The Wall Street Journal reported that General Electric Co. (GE) Chairman and Chief Executive Jeff Immelt said Tuesday that the company may consider spinning off GE Capital to simplify its structure...
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March 20, 2013, 07:27 AM
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GE Capital, Corporate Finance announced it provided $16 million in equipment financing to the Dutra Group, Inc. The funds refinance existing debt used to support the company’s marine fleet. Headquartered in San Rafael, CA, the Dutra Group focuses...
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March 13, 2013, 07:10 AM
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GE Antares, a unit of GE Capital, announced today it closed more than 220 senior loan transactions, totaling $15.3 billion in financing, during 2012."Helping build and strengthen the middle market is central to our business," said John Martin...
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February 27, 2013, 07:14 AM
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GE announced today third-quarter 2012 Operating Earnings of $3.8 billion, or $0.36 per share, up 10% and 50% respectively from the third quarter of 2011. Excluding the effects of the third-quarter 2011 preferred stock redemption, operating earnings...
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October 19, 2012, 07:30 AM
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Deutsche Bank and GE Aero Energy, a General Electric Company business that manufactures gas turbines and other power equipment, have announced their collaboration to introduce new risk management and working capital solutions for complex projects in...
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October 16, 2012, 06:24 AM
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Bloomberg reported that GE Capital is in the final stage of a regulatory review to determine if it needs extra scrutiny because of the risk that its potential failure would pose to the U.S. economy, two people with direct knowledge of the matter said...
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October 08, 2012, 07:52 AM
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Moody's Investors Service placed the Aa2 senior unsecured ratings of General Electric Company (GE) and General Electric Capital Corporation (GECC) under review for possible downgrade. The Prime-1 short-term ratings for both companies were affirmed....
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March 20, 2012, 08:00 AM
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City National Bank announced that it has hired four new bankers in Seattle to focus on franchise finance and will open a loan production office in Seattle this year as part of a nationwide expansion effort. The new bankers came from GE Capital...
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March 13, 2012, 08:00 AM
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In advance of a meeting held yesterday, GE Vice Chairman John Rice confirmed GE’s 2012 outlook and expectations for continued double-digit revenue growth in its global growth regions in 2012 and 2013.Mr. Rice confirmed GE’s 2012 total company...
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March 08, 2012, 06:00 AM
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Washington Federal announced the appointment of Michael Brown as President of a newly formed Equipment Finance Division, to be headquartered in Phoenix, Arizona. Brown will be responsible for growing the company's equipment finance portfolio within...
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February 23, 2012, 07:30 AM
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