NEW YORK--(BUSINESS WIRE)--Jan. 19, 2006--While the insurance industry grapples with the issue of fair compensation for asbestos victims, a new vulnerability may be lurking around the corner. Robert Blanco, Senior Actuary at GE Insurance Solutions, told an audience here that conditions exist that could expose the workers compensation markets to escalating asbestos claims.
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NEW YORK--(BUSINESS WIRE)--Jan. 18, 2006--When a child enters the hospital or a hurricane destroys a city or a family breadwinner unexpectedly dies, the insurance industry steps in to ensure a financial recovery. It's a tremendous responsibility, and in order to respond insurers must operate on a foundation of strength, stability and integrity.
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January 18th, 2006. Moscow. - DeltaBank (a wholly owned subsidiary of GE Consumer Finance) reports the opening of 56 additional offices for the sale of credit products and services in its distribution network encompassing major Russian cities in September-December, 2005. At the same time, the distribution network grew 30% on 2004 this year. A total of 149 DeltaBank offices are currently open for business across the country.
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LONDON & HANOVER, Germany--(BUSINESS WIRE)--Jan. 17, 2006--GE Energy Financial Services has completed project debt financing for two wind power farms it owns in Saxony-Anhalt, Germany.
Norddeutsche Landesbank (NORD/LB) in Hanover arranged the approximately EUR 60 million in total debt for the 12-megawatt Krusemark wind farm in Sachsen-Anhalt and the 55-megawatt Alsleben farm under construction between Magdeburg and Halle. Norddeutsche Landesbank is the sole lender to the projects.
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JENBACH, Austria--(BUSINESS WIRE)--Jan. 16, 2006--GE Energy's Jenbacher gas engine business has provided five cogeneration units for three new power plants supporting parts of the city of Torino and nearby ski resort villages in Italy. The northern Italian city is hosting the upcoming Olympic Winter Games in February 2006.
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CHICAGO--(BUSINESS WIRE)--Jan. 16, 2006--GE today announces that Eric LaBat has been named Chief Marketing Officer (CMO) for the company's Rail Services unit. Mr. LaBat will be responsible for developing strategic marketing plans and driving growth and innovation breakthroughs for the business. The position - new to Rail Services - reflects the development of a cross-business Equipment Services marketing team that will focus its efforts in 2006 on new growth initiatives, including services, asset intelligence and geographic expansion.
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TORINO, Italy--(BUSINESS WIRE)--Jan. 13, 2006--GE, a Worldwide Partner of the Olympic Games, and the City of Torino today unveiled an Olympic-themed monument dedicated to the residents and visitors of the city for the Torino 2006 Olympic Winter Games. Torino Mayor Sergio Chiamparino and President of GE Italy Giuseppe Recchi attended the event at the GE Ice Plaza in Piazza Solferino, in the heart of Torino's historic city center, where the structure will remain through the Games. The monument is a gift from GE's 300,000 worldwide employees to the city.
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TAMPA, Fla.--(BUSINESS WIRE)--Jan. 13, 2006--GE Healthcare, a division of General Electric Company (NYSE:GE), announced today the preview and the public announcement of the Capital Campaign of Pepin Heart Hospital & Dr. Kiran C. Patel Research Institute in Tampa, Fla., the next generation all-digital, state-of-the-art facility developed around GE's cardiovascular and integrated information technologies (IT).
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DALLAS--(BUSINESS WIRE)--Jan. 13, 2006--Capital Senior Living Corporation (NYSE:CSU) and GE Healthcare Financial Services today announced the formation of a joint venture to acquire five senior housing communities from a third party. The new venture will be funded by Capital Senior Living and GE Healthcare Financial Services, demonstrating both companies' significant commitment to long-term care real estate. Under the venture agreement, Capital Senior Living will earn management fees and may receive additional incentive distributions.
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FLORENCE, Italy--(BUSINESS WIRE)--Jan. 12, 2006--GE's Oil & Gas business has been selected as an equipment supplier for the expansion of China's landmark West-East Gas Pipeline Project, one of the country's most critical infrastructure projects of the 21st century. Under a contract of more than US$196 million, GE will provide gas turbines, compressors and installation services for 12 new compression stations.