Investors may focus on GE's finance units

BLOOMBERG NEWS SERVICE • October 9, 2008 General Electric Co. Chief Executive Officer Jeffrey Immelt, poised to report a third straight decline in quarterly profit this year, may find investors focused on his plans for the GE finance units mired in the global market crisis. The profit GE is turning this year as the biggest maker of jet engines and power-plant turbines is overshadowed by concern about lower earnings and potential land mines in its finance arm, GE Capital. Its bonds, which carry the top AAA rating, this week traded as though they were barely investment grade. GE shares reached five-year lows and fell for five straight days even after billionaire Warren Buffett bought in as a vote of confidence. "It's an issue for GE that's going to keep pressure on the stock,'' said Jim Bitter, an analyst at Wilmington Trust... [read full story]