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Mar 16, 2015

GE’s Immelt touts value of conglomerate’s scale to investors

March 16 (Reuters) – General Electric Co Chief
Executive Officer Jeff Immelt is sticking by his company’s model
for housing diverse businesses under one roof at a time when
other U.S. conglomerates are looking at hiving off units to
please investors.

In a wide-ranging annual letter to shareholders released on
Monday, Immelt details advantages from such scale through shared
technology and other areas through what he calls the “GE Store.”

Mar 12, 2015

United Tech CEO: Sale of Sikorsky would be hard due to taxes

NEW YORK (Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) chief executive officer said on Thursday that a sale of its Sikorsky helicopter unit would be “very hard” due to the heavy tax liability that would come with such a disposition.

United Technologies said on Wednesday it is exploring alternatives for Sikorsky, including a potential spinoff. Any buyer is expected to face significant taxes, because the value of Sikorsky has appreciated so much since it became part of United Tech in 1929.

Mar 12, 2015

United Technologies CEO sees $1 billion in acquisitions in 2015

NEW YORK (Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) chief executive officer said on Thursday that the company will spend $1 billion on acquisitions this year, “maybe a little bit more,” even as he eyes bigger targets.

United Technologies CEO Greg Hayes, speaking at investor day in New York where he detailed a potential split off of its Sikorsky helicopter unit, said that the acquisition climate was difficult due to high pricing.

Mar 12, 2015

Takeover of UTC’s Sikorsky helicopter unit seen less likely, for now

March 12 (Reuters) – United Technologies Corp’s
Sikorsky helicopter unit could be acquired by another big
defense company, but the potential for a big tax bill means the
maker of Black Hawk helicopters will more likely be spun off
into a standalone company, analysts said.

UTC shares were up 1.9 percent on Thursday as company
executives were scheduled to discuss alternatives for Sikorsky,
including a split-off, at an investor day.

Mar 12, 2015

UTC to weigh split off of Sikorsky helicopter unit

March 11 (Reuters) – United Technologies Corp will
explore splitting off its Sikorsky helicopter unit, including a
spinoff into a standalone company, the U.S. manufacturer said.

The company’s board authorized the review, which also could
include a sale of the maker of Black Hawk helicopters. Sikorsky
had $7.5 billion in sales last year. The review is expected to
finish before the end of the year.

Mar 11, 2015

General Electric seeks to sell 500 of new gas turbines by 2030

Niskayuna, NEW YORK, March 11 (Reuters) – General Electric
Co expects to sell 500 of its more highly efficient gas
power turbines in the next 15 years, a company executive said on
Wednesday during a meeting to spotlight the U.S. conglomerate’s
ability to innovate.

The H-class gas turbine is designed to be more efficient at
converting natural gas to electricity than older turbines. It is
a critical new product for GE’s power business — the company’s
biggest industrial segment — and its prospects are being
closely watched by Wall Street.

Mar 10, 2015

GE CEO Immelt gets salary, cash bonus bump for 2014

By Lewis Krauskopf

(Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Jeff Immelt earned roughly 8 percent increases in his salary and cash bonus in 2014, the U.S. conglomerate said in its proxy statement on Tuesday, despite a sluggish performance by GE’s shares last year.

Immelt’s salary rose to $3.75 million while his cash bonus increased to $5.4 million.

Mar 5, 2015

Post-it maker 3M unveils greener paper-sourcing policy

NEW YORK, March 5 (Reuters) – St. Paul-based 3M Co,
one of the world’s largest manufacturers and the maker of
Post-it notes, will take new steps to ensure that its suppliers
of paper, pulp and packaging provide materials that come from
sustainably logged timber.

The new paper-sourcing policy, aimed at preventing the
destruction of fragile forests, comes after pressure on 3M from
environmental activists, who accused the company of outdated
practices.

Mar 5, 2015

Exclusive: Post-it note maker 3M unveils new paper sourcing policy

NEW YORK (Reuters) – St. Paul-based 3M Co, one of the world’s largest manufacturers and the maker of Post-it notes, will take new steps to ensure that its suppliers of paper, pulp and packaging provide materials that come from sustainably logged timber.

The new paper-sourcing policy, aimed at preventing the destruction of forests, comes after pressure on 3M from environmental activists, who accused the company of outdated practices that jeopardized fragile forests.

Mar 3, 2015

U.S. CEOs modestly more upbeat on economy, spending: survey

By Lewis Krauskopf

(Reuters) – U.S. chief executive officers are modestly more upbeat about the economy and almost half plan to increase capital spending over the next six months, a business group survey said on Tuesday.

CEOs expect U.S. gross domestic product to rise by 2.8 percent this year, compared to a projection of a 2.4 percent increase a quarter earlier, according to the first-quarter survey by the Business Roundtable.

    • About Lewis

      "I help coordinate coverage of healthcare companies for Reuters in the United States. I also cover health insurers, pharmacy benefit managers, generic drugmakers and pharmaceutical companies."
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