GE's Jeff Immelt on Evolving a Corporate Giant
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Genpact Looks to a New Era Beyond “General Electric's Provider”
A Horses for Sources Rapid Insight Genpact Looks to a New Era beyond “General Electric’s Provider” Mike Atwood, Horses for Sources Phil Fersht, Horses for Sources In its first industry analyst conference, leading business process outsourcing (BPO) provider Genpact emphasized its business, today, is much broader than supporting General Electric’s back office and primarily delivering finance and accounting (F&A) services. The global service provider surpassed the $1 billion revenue threshold, in 2008 and new opportunities and challenges have emerged to scale and diversify its growing services business. “Tiger” Tyagarajan (Chief Operating Officer) and Bob Pryor (Executive Vice President, responsible for sales, marketing and new business development globally) co-hosted on May 18-19 in Cambridge, MA what Genpact billed as its first analyst and advisor conference. The event was well attended by all the analyst firms and many of the consulting firms which regularly help clients hire BPO firms such as Genpact. The largest of the advisory firms present was EquaTerra, which currently advises on the lion’s share of the BPO business. All and all, it was a good first effort, and more open than many service provider events we have attended in the past. The headline message was that the majority of Genpact’s business is no longer with its former parent GE (currently about 40 percent). In fact, its GE business actually declined last year as a percentage of total revenues. Further, only about one third of its business is now in finance and accounting outsourcing (FAO). As demand in other areas grows, Genpact will continue to verticalize its offerings in areas such as back office processing for financial institutions and healthcare companies, in addition to developing its IT services, and knowledge process outsourcing (KPO))/analytics offerings. -
Cruising the Information Highway: Online Services and Electronic Mail for Physicians and Families John G
Technology Review Cruising the Information Highway: Online Services and Electronic Mail for Physicians and Families John G. Faughnan, MD; David J. Doukas, MD; Mark H. Ebell, MD; and Gary N. Fox, MD Minneapolis, Minnesota; Ann Arbor and Detroit, Michigan; and Toledo, Ohio Commercial online service providers, bulletin board ser indirectly through America Online or directly through vices, and the Internet make up the rapidly expanding specialized access providers. Today’s online services are “information highway.” Physicians and their families destined to evolve into a National Information Infra can use these services for professional and personal com structure that will change the way we work and play. munication, for recreation and commerce, and to obtain Key words. Computers; education; information services; reference information and computer software. Com m er communication; online systems; Internet. cial providers include America Online, CompuServe, GEnie, and MCIMail. Internet access can be obtained ( JFam Pract 1994; 39:365-371) During past year, there has been a deluge of articles information), computer-based communications, and en about the “information highway.” Although they have tertainment. Visionaries imagine this collection becoming included a great deal of exaggeration, there are some the marketplace and the workplace of the nation. In this services of real interest to physicians and their families. article we focus on the latter interpretation of the infor This paper, which is based on the personal experience mation highway. of clinicians who have played and worked with com There are practical medical and nonmedical reasons puter communications for the past several years, pre to explore the online world. America Online (AOL) is one sents the services of current interest, indicates where of the services described in detail. -
Jeff Immelt Transcript
The Future of Work podcast is a weekly show where Jacob has in-depth conversations with senior level executives, business leaders, and bestselling authors around the world on the future of work and the future in general. Topics cover everything from AI and automation to the gig economy to big data to the future of learning and everything in between. Each episode explores a new topic and features a special guest. You can listen to past episodes at www.TheFutureOrganization.com/future-work-podcast/. To learn more about Jacob and the work he is doing please visit www.TheFutureOrganization.com. You can also subscribe to Jacob’s YouTube channel, follow him on Twitter, or visit him on Facebook. Jacob 01:21 Hello, everyone. Welcome to another episode of the future of work. I'm your host Jacob Morgan. And today I'm joined by Jeff Immelt, the former CEO of GE and the author of a brand new book called The Hotseat: What I Learned From Leading a Great American Company. Jeff, thank you for joining. Jeff 01:36 Nice to meet you. I look forward to the conversation. Jacob 01:39 Oh, yes, I there's so much stuff in here. I took more notes from your book then probably I have from any other guests that I've interviewed over the years. There's just so much fascinating stuff in there. But let's start off with a little bit of background information about you and how you actually became the CEO of GE. So take us way back even how you were raised, how you grew up and what that path look like for you. -
GE Unveils Handheld Ultrasound Machine 21 October 2009, by RACHEL METZ , AP Technology Writer
GE unveils handheld ultrasound machine 21 October 2009, By RACHEL METZ , AP Technology Writer sometime next year, will be "very digitally capable" but that it will not have Wi-Fi access to wirelessly transmit ultrasound images. The cost of the device is unknown. During the summit, Immelt declined to elaborate on the possibility that Fairfield, Conn.-based GE will sell a stake in its NBC Universal entertainment division to cable TV operator Comcast Corp. or any other company. He said that GE is "comfortable" with the division. ©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. In this photo relesed by General Electric, GE Chairman and CEO Jeff Immelt unveils GE Healthcare's new Vscan, a pocket-sized ultrasound device, at the Web 2.0 Summit in San Francisco on Tuesday, Oct. 20, 2009. (AP Photo/General Electric) (AP) -- The future of ultrasound technology, as interpreted by General Electric Co., looks a bit like a flip phone crossed with an iPod. GE CEO Jeff Immelt unveiled a handheld ultrasound machine at the Web 2.0 Summit in San Francisco Tuesday called the Vscan, saying it could become the "stethoscope of the 21st century." The device folds open clamshell-style to reveal a small screen on the top half and a circular button pad on the bottom. A small attached wand can be used to generate a noninvasive scan of a patient's organs or of a fetus. The Vscan is aimed in part at primary care doctors, who could use it instead of sending patients to get an ultrasound at a specialist's office. -
What Is REALLY Driving Digital Transformation EQUIPMENT LEASING and FINANCE ASSOCIATION Panel Members Moderator: John Deane CEO the Alta Group [email protected]
EQUIPMENT LEASING AND FINANCE ASSOCIATION What is REALLY Driving Digital Transformation EQUIPMENT LEASING AND FINANCE ASSOCIATION Panel Members Moderator: John Deane CEO The Alta Group [email protected] Presenters: Jim Ambrose Jeff Berg President, Equipment Finance EVP - North America GE Capital Healthcare Equipment Finance DLL [email protected] [email protected] Tiger Tyagarajan President & CEO Genpact [email protected] EQUIPMENT LEASING AND FINANCE ASSOCIATION Digitization: A definition “Digitization is the use of digital technologies to change a business model and provide new revenue and value- producing opportunities; it is the process of moving to a digital business.” Source: EQUIPMENT LEASING AND FINANCE ASSOCIATION Digitization of Marketing Timeline EQUIPMENT LEASING AND FINANCE ASSOCIATION Digitization Drivers: The 4 C’s Customers Costs Competition Compliance • Increased • Reduce cost to serve • New entrants • Know your expectations • Deliver process • New business customer • Less loyalty improvements models • Anti-money • Digital lifestyle • Drive agility and • Technology laundering flexibility players … • Anti-fraud Apple • Reduce headcount Google • Risk management and OpEx LinkedIn • Capital adequacy Facebook EQUIPMENT LEASING AND FINANCE ASSOCIATION Why Worry? Because if you don’t digitize … then someone else will EQUIPMENT LEASING AND FINANCE ASSOCIATION DLL Express Finance mobile application Financing at your fingertips Jeffrey Berg EVP - North America – DLL Financial Solutions Partner EQUIPMENT -
GE Works GE 2012 Annual Report Annual 2012 GE
General Electric Company Fairfield, Connecticut 06828 www.ge.com GE Works GE 2012 Annual Report 2012 Annual Report 3.EPC055148101A.103 “ Last year we set focused execution goals for GE: double-digit industrial earnings growth; margin expansion; restarting CITIZENSHIP AT GE the GE Capital dividend to the parent; reducing the size of IN 2012, WE GE Capital; and balanced capital allocation. We achieved all As a 130-year-old ~ 2^]caXQdcTS\^aTcWP]!!\X[[X^]c^R^\\d]XcXTbP]S technology company, nonprofit organizations. of our goals for the year.” GE has proven its ~ ;Pd]RWTS abc^UPZX]S_a^VaP\bcWPcQaX]VcWT[PcTbc JEFF IMMELT, CHAIRMAN AND CEO breast cancer technologies to women. sustainability. Working Healthymagination and Susan G. Komen for the Cure have to solve some of the partnered to bring the latest breast cancer technologies to world’s biggest challenges, more women, by encouraging women to be screened through targeted programs in the U.S., China and Saudi Arabia. Citizenship is in the ~ 6T]TaPcTS! QX[[X^]X]aTeT]dTUa^\^daTR^\PVX]PcX^] products we make, how product portfolio. we make them, and in the difference we make 2012 PERFORMANCE in communities around GE’s newest Evolution Series GE is one of the largest locomotive prototype (pictured) employers in the U.S. and the world. reduces emissions by more than the world, with 134,000 70% compared with 2005 engines, U.S. employees and www.gecitizenship.com saving railroad customers more 305,000 employees globally, CONSOLIDATED REVENUES GE SCORECARD (In $ billions) than $1.5 billion in infrastructure as of the end of 2012. -
Alumni Gather Under the Tuscan Sun
FALL/WINTER 2007 the Alumni Magazine of NYU Stern STERNbusiness ALUMNI GATHER UNDER THE TUSCAN SUN The Business of Business Education ■ The Alchemy of Private Equity ■ Guidance on Earnings Guidance ■ Global Attitudes on Capitalism ■ Fashioning an Apparel Business ■ Showtime’s Program for Success a letter fro m the dean The end of summer pro- we’ve seen that sharp insights can bear fruit in unan- vides us with an opportuni- ticipated ways. That’s certainly been the case with the ty to take a breath, to look long-running collaboration of Professors Marty back, and to prepare for the Gruber and Ned Elton (page 52), whose portfolio academic year. As I start my research has yielded countless applications. For sixth year as dean at NYU another example of how the research we conduct does Stern, I realize that I now work in the broader world, I’d direct you to Professor have a great deal to look back on – and a great deal to Robert Engle’s five-part series on volatility (page 22) look forward to. In recent years, one of our goals has that first appeared this summer on the Financial been to build a greater sense of community – among Times’ website – FT.com. It’s a brilliant short course students, faculty, and alumni. And the Global Alumni taught to a massive audience by a Nobel laureate. Conference, which we held in June in Florence (page Research allows Stern to function as an ideas incu- 12), highlighted how far we’ve come. The conference bator, cultivating new insights into the business world. -
Edison Facts 2021.Indd
Edison Facts Did You Know? ■ Thomas Edison was born on February 11, 1847, in Milan, Ohio. ■ Edison was partially deaf. ■ At age 10, Edison built his first science laboratory in the basement of his family's home. ■ Edison acquired 1,093 U.S. patents for his inventions. He held the record for the most patents until 2015, when he was surpassed by inventor Lowell Wood, who today holds 1,969 U.S. patents. ■ The first invention that Edison tried to sell was an electric vote recorder. ■ The phonograph was Edison's favorite invention. ■ In 1879, Edison invented the first incandescent light bulb. ■ Edison tested over 6,000 vegetable growths (baywood, boxwood, hickory, cedar, flax, bamboo) as filament material in his light bulbs. ■ Edison set up the Pearl Street Central Power Station, the world's first “electric light-power station” in lower Manhattan. ■ Edison's Pearl Street plant powered one square mile of Lower Manhattan, providing service to 59 customers for approximately 24 cents per kilowatt-hour. ■ Edison founded the Edison General Electric Company in 1878 to market his inventions, including the incandescent lamp. In 1892, the company merged with the Thomson-Houston Company to form the General Electric Company. ■ Edison began operation of the first passenger electric railway in the country in Menlo Park, New Jersey. ■ Edison was nicknamed the “Wizard of Menlo Park”. ■ In 1913, Edison introduced the first talking motion pictures. ■ Edison coined the phrase, “Genius is one percent inspiration, 99 percent perspiration.” ■ Edison passed away when he was 84 years old, on Sunday, Learn more about October 18, 1931. -
Conference Call Transcript
FINAL TRANSCRIPT Conference Call Transcript GE - GE Investor Webcast Regarding NBC Universal Event Date/Time: Dec 03, 2009 / 01:30PM GMT "Results are preliminary and unaudited. This document contains “forward -looking statements” - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For this transaction, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: the timing of, or ability to obtain, necessary regulatory and governmental approvals for the proposed transaction with Comcast on acceptable terms; the timing and completion of the financing of NBC Universal on contemplated terms before the closing of the proposed joint venture; the receipt of an investment grade rating from the rating agencies of the proposed joint venture between GE and Comcast; adverse developments in the business and operations of NBC Universal, including potential disruption that may make it more difficult to maintain business and operational relationships; the successful combination, operation and overall performance of the joint venture post closing; the ability t o redeploy our capital into high-growth technology businesses; our projected cash flow for 2010, as well as our growth prospects for 2011. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.” “This document may also contain non-GAAP financial information. -
General Electric Partners with Leading Investors to Transform Gecis, Its Global Business Processing Operation, Into an Independent Company
General Electric Partners With Leading Investors To Transform Gecis, its Global Business Processing Operation, into an Independent Company Move Will Enable Gecis to Pursue Global Demand for BPO Services Fairfield, Conn. (November 8, 2004) – General Electric today announced it has entered into a definitive agreement with two leading private-investment firms, General Atlantic Partners and Oak Hill Capital Partners, under which the firms will acquire a majority interest in GE Capital International Services (Gecis), GE’s global business- processing operation. Gecis already is one of the largest shared-service providers in the world, employing more than 17,000 professional staff. As a recapitalized, independent company, Gecis will be well positioned to offer its high-quality business-processing services to companies in the Americas, Europe, and Asia, where it already has operations. Gecis will continue to serve GE under a multiyear contract, and Pramod Bhasin will remain as president and chief executive officer, supported by the current Gecis global management team. Approximately 1,000 Gecis employees will remain with GE. The transaction, subject to customary approvals, values Gecis at $800 million. Upon closing, GE will retain a 40 percent stake in Gecis and receive cash proceeds of approximately $500 million, which it plans to use to fund growth initiatives. The parties aim to complete the transaction some time in the next six months. “This transaction allows us to offer our quality business-process services to an expanding roster of leading companies worldwide,” Bhasin said in making today’s announcement. “With accelerated growth, Gecis will provide expanded opportunities for employees and increased value for shareholders. -
General Electric Company (“GE” Or “Respondent”)
UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES ACT OF 1933 Release No. 10899 / December 9, 2020 SECURITIES EXCHANGE ACT OF 1934 Release No. 90620 / December 9, 2020 ACCOUNTING AND AUDITING ENFORCEMENT Release No. 4194 / December 9, 2020 ADMINISTRATIVE PROCEEDING File No. 3-20165 ORDER INSTITUTING CEASE-AND- In the Matter of DESIST PROCEEDINGS, PURSUANT TO SECTION 8A OF THE SECURITIES ACT GENERAL ELECTRIC OF 1933 AND SECTION 21C OF THE COMPANY, SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING Respondent. REMEDIAL SANCTIONS AND A CEASE- AND-DESIST ORDER I. The Securities and Exchange Commission (“Commission”) deems it appropriate that cease- and-desist proceedings be, and hereby are, instituted pursuant to Section 8A of the Securities Act of 1933 (“Securities Act”) and 21C of the Securities Exchange Act of 1934 (“Exchange Act”) against General Electric Company (“GE” or “Respondent”). II. In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Instituting Cease- and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order (“Order”), as set forth below. -
Conference Call Transcript
FINAL TRANSCRIPT Conference Call Transcript GE - General Electric 3Q ’05 Earnings Call Event Date/Time: Oct. 14. 2005 / 8:30AM ET Event Duration: N/A "This document contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties which could adversely or positively affect our future results include: the behavior of financial markets, including fluctuations in interest rates and commodity prices; strategic actions, including dispositions; future integration of acquired businesses; future financial performance of major industries which we serve, including, without limitation, the air and rail transportation, energy generation, media, real estate and healthcare industries; unanticipated loss development in our insurance businesses; and numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements." Thomson StreetEvents www.streetevents.com Contact Us 1 © 2005 Thomson Financial.