Jeff Immelt Business Quotations

Over the last five years, the Insurance Solutions business has lost $700m and required the infusion of $3.2bn of capital.

GE's end markets continue to show solid growth, and our businesses are performing very well,

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.

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.

The Lighting and Appliances teams are to be commended for their outstanding efforts in navigating very competitive global industries, ... Our goal now is to combine the rich talents of these two businesses into a unified effort that will extend our leadership position and profitability.