I made a few tough calls in 2005 that may have had a short-term impact on the stock. The sale of Insurance Solutions for a loss is one of them. But I know you will be happy with these decisions over time.
More Quotes from Jeff Immelt:
We really don't see a double dip, just slow economic growth,Jeff Immelt
We have estimated the losses at GE Insurance Solutions from the storm and its aftermath, and despite this impact, we are confident we will deliver on our commitment to shareholders and are reaffirming our earnings guidance for the third quarter and the year.
Jeff Immelt
Over the last five years, the Insurance Solutions business has lost 700m and required the infusion of 3.2bn of capital.
Jeff Immelt
We are on track for double-digit growth in earnings and cash flow in 2005 and beyond,
Jeff Immelt
Insurance Solutions has been a tough strategic fit for GE,
Jeff Immelt
We're really not counting on any huge moves with the portfolio. I think we like the company the way it looks today.
Jeff Immelt
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