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GE Capital Structured Finance Group (SFG) made great strides in 2000, as net income rose 28% for the year. New investments approached $3 billion, our fourth consecutive annual increase of 20%. Assets grew to $12 billion and portfolio quality continued to be excellent. Productivity also accelerated at a double-digit rate from the prior year, driven by strong execution on numerous process improvements. Our e-Business efforts resulted in greater customer collaboration online and enhanced service. We believe that these achievements put us squarely on track for a strong performance in 2001. For 30 years, SFG has prospered by providing capital distinguished by knowledge to customers ranging from household names to highly promising early-stage businesses. Nowhere is the opportunity for our services greater than in the deregulating and restructuring power sector, where GE has more than a century of experience. In 2000, our Global Energy team tapped this $100 billion-plus opportunity with equity and financing for industry players grappling with the surging demand for power and new energy technology. Our Telecom business looked beyond the current market turbulence, making selective investments in an industry with strong fundamentals, rapid technological advances and huge demand for mobile and broadband services. In the face of a slowing economy, SFG selectively invested more than $1 billion in the transportation and industrial sectors, providing our customers with unique, highly structured equity, debt, lease and balance sheet solutions to help them offset growing financial pressures. Given the markets we serve and the capabilities we bring to bear, we are dedicated to helping our customers continue to prosper, despite the challenges posed by the increasingly complex and difficult business environment. We look to the future with great enthusiasm for both our customers and ourselves. www.gestructuredfinance.com |
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