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GE seeks government partnership in new economy
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| Contributor | Ashley |
| Last Edited | Ashley Mar 04, 2009 10:54am |
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| Category | General |
| News Date | Tuesday, March 3, 2009 09:20:00 PM UTC0:0 |
| Description | NEW YORK (MarketWatch) -- General Electric Co. is reading the tea leaves of the troubled global economy and has found a new partner to help it weather the storm: government.
In the new economy, the interaction between government and business will be changed forever, with government as a stronger regulator, an industry policy champion, a financier and key partner, GE Chief Executive Jeff Immelt wrote in a letter to shareholders, published late Monday.
In that context, the Fairfield, Conn.-based conglomerate plans to radically downsize its financial arm and capitalize on the strength of its infrastructure businesses, which are set to benefit from new government spending and demand for improved performance and energy efficiency, according to Immelt. |
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