Jeff Immelt Quotes
The year is turning out as planned, ... As expected, the ramp-down of our turbine shipments in the first half created earnings pressure. However, we are executing with broad-based strength to generate significant growth in the second half. We see nine of 13 businesses growing in double digits and more favorable comparisons in power systems and insurance.
GE delivered in the first quarter for the same reason we have delivered throughout the economic downturn -- the strength of our business model, ... Our mix of businesses and execution of our productivity and business development initiatives ... enable GE to deliver earnings and cash growth through economic cycles.
Because appliances and lighting have powerful connections with similar consumer bases, we believe they will now be able to grow more successfully together than either would on its own, ... We want to create a simpler, more efficient business that will be competitive across all product lines. By taking out administrative costs, we will be able to put that money back into investing in new technologies and building greater brand awareness.
One of the optimists is eco-designer Bill McDonough , whom we bumped into in Beijing, at the Fortune Global Forum this May. As chair of the China-U.S. Center for Sustainable Development, he believes China will be forced to become a leading incubator of environmental innovation simply because the in-country collision between people's needs and the ability of natural systems to support them is already so acute. As he notes, The Chinese have to build new housing for 400 million people in 12 years. ... While Europe has been a driver for innovation in cleaner technologies, China promises to be its market.