Magazine

The Sum of Its Parts


A look at what Immelt has to work with as he tries to position GE for a return to high growth

GE CAPITAL

At a recent investor meeting, GE said it expects the troubled unit to make a profit in 2009 and won't need external capital. Still, some analysts saw the outlook as too rosy and cut estimates as the troubled finance arm faces growing loan losses in its consumer, commercial, and real estate businesses.

2008 revenues: $67.01 billion

TECHNOLOGY INFRASTRUCTURE

As the recession deepens, orders in the unit were down last quarter. But its service business is up. GE expects the unit's mix of businesses, which include locomotives and jet engines, to be profitable in the first quarter. With hospital spending down, though, the health-care business is likely to suffer.

2008 revenues: $46.32 billion

ENERGY INFRASTRUCTURE

GE's energy business, which sells everything from wind turbines to power generators, has been booming in recent years and could win stimulus contracts with its focus on green energy. Services are in demand, but some orders are slowing. One recent big win: building a natural gas pipeline in China worth more than $300 million that's longer than the Great Wall.

2008 revenues: $38.57 billion

NBC UNIVERSAL

A perennial question mark for many investors, NBC Universal now looks more like a helpful generator of cash. Still, a dismal ad market and tougher times for its film and DVD business led CFO Keith Sherin to say in March that NBC Universal faces a "very challenging quarter."

2008 revenues: $16.97 billion

CONSUMER & INDUSTRIAL

Immelt tried last year to spin off the low-margin unit to no avail. With potential buyers short on ways to finance big deals, he's stuck with it for now. In 2008 the unit earned $365 million, down about 65% from $1 billion in 2007.

2008 revenues: $11.74 billion


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