GE sees finance unit profitable in 2009

Darkoak · Mar 19, 2009

NEW YORK (Reuters) - General Electric Co expects GE Capital to be profitable this year, though if the economy deteriorates to the Federal Reserve's adverse case, the finance unit could post break-even results, executives said.

Stress-testing based on the Fed's base-case scenario for the economy shows profit could come to $2 billion to $2.5 billion, Michael Neal, the chief executive of GE Capital, said on Thursday.

"Even in the adverse case we're probably break-even to slightly profitable," he said,

In December, the U.S. conglomerate had forecast that the GE Capital unit would earn about $5 billion in 2009.
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http://www.reuters.com/article/newsOne/idUSTRE52I46A20090319

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