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Non-Tech : General Electric (GE) -- Ignore unavailable to you. Want to Upgrade?

To: Michael & B.Anne who wrote (917)	7/21/1999 11:38:00 AM
From: Gerald Walls	Read Replies (1) \| Respond to of 3256

NBCi - NBC Internet Tracking Stock thestreet.com (Subscribe. It's worth it.) Tale of Two Tracking Stocks By Adam Lashinsky Silicon Valley Columnist 7/21/99 7:00 AM ET So Microsoft (MSFT:Nasdaq) isn't creating a tracking stock for its Internet operations. Yet. But don't think for a second the tracking-stock concept is dead. All Microsoft CFO Greg Maffei said after the company's earnings Monday is that it isn't "imminent." The plan to create a stock tied to Microsoft's Internet operations that would have the value of a "pure-play" Net company remains a way for Microsoft to attract wampum-hungry employees. After all, they want a shot at getting as rich as their Microsoft predecessors did. And plenty of other corporate titans are moving ahead with tracking stocks, most notably General Electric (GE:NYSE). GE last week quietly filed papers with the Securities and Exchange Commission that show just what the first pure play carved out of a true blue-chip will look like. The new concern is called NBC Internet, or the cute NBCi for short. Based in San Francisco, NBCi will be the combination of consumer-oriented Web services firm Xoom.com (XMCM:Nasdaq) (whose stock and CEO will become NBCi's stock and CEO when the deal is done), portal Snap.com and four Net properties belonging to GE's NBC television unit. The other partner involved is CNet (CNET:Nasdaq), the computer-information site that jointly owns Snap.com with NBC. There's a lot that looks impressive about NBCi, particularly that GE's grand poobah, Jack Welch, and NBC President and CEO Bob Wright are on the new unit's board. (Unlike Network Associates (NETA:Nasdaq) CEO William Larson, neither Welch nor Wright helped themselves to any NBCi stock options, according to the company's SEC filing.) Even more impressive is that NBC has been running its Internet operations like something resembling a business. The three primary NBC contributions to NBCi -- network portal NBC.com; NBC-IN.com, the aggregate sites of more than 100 affiliates; and on-demand video programmer VideoSeeker -- are actually profitable. Grouped together as the NBC Multimedia unit to be rolled into NBCi, these three earned $838,000 in the first quarter on revenue of $3.5 million. NBC's fourth contribution to NBCi is a 10% stake in the cable television channel CNBC, which includes the month-old CNBC.com, a mighty spiffy-looking competitor to TheStreet.com. The other participants in NBCi surely will cure NBC of its profit-making urge. The overall entity, if it had existed at the end of last year, would have had revenue of $27.8 million and an operating loss of $290 million. And NBCi's red ink isn't slowing. First-quarter losses grew to $88 million on sales of $13.3 million, according to the SEC filing. With Xoom.com's current market cap of $736 million, its proposed 37% stake in NBCi values the as-yet-nonexistent company at almost $2 billion. That's a neat feat for NBC, of course, to turn a few million bucks in revenue into a billion-dollar investment. NBC will hold 48.5% of NBCi, with an option to own as much as 53.8%. Another goodie for NBC is the $880 million in advertising NBCi has promised to purchase from the Peacock over 10 years. That latter arrangement is reminiscent of the way Motorola (MOT:NYSE) hedged its bets on Iridium (IRID:Nasdaq) by taking a big stake but arranging for the fledgling global satellite network to buy its gear from Motorola. As Herb Greenberg's ongoing coverage of Iridium makes clear, sometimes even hedged bets don't pan out.

To: Michael & B.Anne who wrote (917)	8/9/1999 2:01:00 PM
From: TechMkt	Read Replies (1) \| Respond to of 3256

Anyone know exactly how much of GE's business is credited to GE Capital? Fez __________________________________ Monday August 9, 11:09 am Eastern Time Company Press Release SOURCE: TIP Intermodal Services TIP Intermodal Services Acquires Over 11,000 Intermodal Trailers From Redon, Inc. DEVON, Pa., Aug. 9 /PRNewswire/ -- TIP Intermodal Services, a GE Capital Company, announces the acquisition of 11,473 intermodal trailers from Redon, Inc. of Jacksonville, Florida. The purchase includes both owned and managed units, 46% of which are less than 1 year old, bringing TIP's intermodal trailer fleet to 26,000 units. The transaction was completed on August 6, 1999. Terms of the agreement were not disclosed. According to Barry DeSantis, President, TIP Intermodal Services, ``Redon is considered the trailer expert in the intermodal industry with a fleet growth rate of almost 50% in the past 18 month period. The acquisition of Redon's trailers will substantially increase our asset base and add significant value-added services to our customers. Redon, who has enjoyed excellent customer relations with the major railroads, is known for its expertise in car accounting and equipment specification. Its leading interchange agreements, IT systems, maintenance record and utilization has enabled Redon to provide the highest level of service in the intermodal industry.' Ralph Chambers who had been President of Redon will now head TIP's intermodal trailer business segment and will be instrumental in applying Redon's operation expertise to TIP's existing trailer fleet. ``The consolidation will make it easier for customers to do business with TIP as well as increase our productivity through consistent, standard, simplified reporting and service processes,' says DeSantis. TIP Intermodal Services is a division of TIP (Transport International Pool), a global leader in over-the-road and intermodal transportation services. TIP Intermodal Services is divided into three business segments: Intermodal Trailers; Domestic Containers and Chassis; and Marine Chassis. TIP is a unit of GE Capital. GE Capital, with assets of more than US$300 billion, is a global, diversified financial services company with 28 specialized businesses. A wholly owned subsidiary of General Electric Company (NYSE: GE - news), GE Capital, based in Stamford, CT, provides equipment management, mid-market and specialized financing, specialty insurance and a variety of consumer services, such as car leasing, home mortgages and credit cards, to businesses and individuals around the world. GE is a diversified services, technology and manufacturing company with operations worldwide.