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To: Shack who wrote (58095)	10/30/2002 5:56:34 PM
From: yard_man	Respond to of 209892

with the admission of 4B in bad debts -- I think there's a lot more to come ... kind of a snowball thing -- most of their biz's are slowing down -- especially the lease / finance biz. Low teens by the end of the year wouldn't surprise me in the least ...

To: Shack who wrote (58095)	10/30/2002 7:56:17 PM
From: bcrafty	Respond to of 209892

This is the second day of bad news for GE Not only the airline debt writeoff that tippet mentioned, but did you catch this tidbit yesterday where they more or less warned and it was kind of brushed off? GE says expects slower growth in 2003 10/28/2002 12:41:08 FRANKFURT, Oct 28 (Reuters) - The chief executive of U.S. industrial conglomerate General Electric Co. (GE) was quoted as saying on Monday his company expected slower growth in 2003 than the last few years due to the state of the world economy. "I think we would need an extraordinarily strong economy in order to achieve double-digit growth in 2003," GE chief executive Jeffrey Immelt told Germany's Handelsblatt business daily. "We are however in a position to grow organically at two-and-a-half times GDP. And we have enough cash to make acquisitions," he said, adding that he was not particularly interested in the assets of troubled Swiss industrial engineering firm ABB. Over the past five years, the company's annual net income has grown at an average rate of 14.2 percent. Revenue has grown at about 9.9 percent over the past five years. Last year however GE'S robust double-digit growth came to a halt as net income rose just 10.9 percent and revenue actually declined by about 3 percent Immelt also said he had prepared GE for a period when the economic growth of major industrialized countries would be at the lower end of expectations. "It is hard to say whether this period will last for 12 or 18 months," he told the paper. "I think we need technological breakthroughs to get back to the growth levels of three or four percent seen at the end of the 1990s."