GE Profit Falls 22 Percent

EXCELLENT!

Maybe they'll have to sell off NBC!
:shrug:


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GE Profit Falls 22 Percent
http://www.huffingtonpost.com/2008/10/10/ge-profit-falls-22-percen_n_133542.html

HARTFORD, Conn. — General Electric Co. spared investors any nasty surprises as it reported a 22 percent drop in third-quarter earnings on Friday, meeting its own lowered forecast and blaming the decline on its struggling finance arm. The company's loan and lease business has been hammered by the worst financial crisis since the 1929 stock market crash.

GE, which also makes everything from jet engines to water treatment systems and owns NBC Universal, reported net income of $4.3 billion, or 43 cents per share. Sales rose 11 percent to $47.23 billion.

A year earlier, the company earned $5.56 billion, or 54 cents.

That is only about 35 million dollars a day...Net Profit How can they stay in business?