WILMINGTON, N.C.--(BUSINESS WIRE)--May 6, 2005--GE Energy has signed an agreement with NuStart Energy Development LLC, under which GE will design and seek an NRC license for its next-generation ESBWR (Economic Simplified Boiling Water Reactor) for one of two proposed projects to be sited at existing U.S. nuclear power plants.
KANSAS CITY, Mo. & OMAHA, Neb.--(BUSINESS WIRE)--May 6, 2005--General Electric (NYSE:GE) and Berkshire Hathaway (NYSE:BRK) today announced that GE Insurance Solutions has entered into a letter of intent for the sale of Medical Protective Corporation, one of the nation's premiere professional liability insurers for physicians and dentists, to National Indemnity, a unit of Berkshire Hathaway.
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FAIRFIELD, Conn.--(BUSINESS WIRE)--May 6, 2005--GE today is amending its 2004 Form 10K to restate its financial statements for the years 2002 through 2004, and certain financial information for the year 2001 and each quarter in 2003 and 2004. The cumulative effect of these changes is a non-cash earnings increase of $381 million from 2001 through the first quarter of 2005, less than six-tenths of one percent of GE's earnings over this period.
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ATLANTA, GEORGIA, May 6, 2005: -- GE Energy's geospatial data management group has reached an agreement with the city of Cedar Rapids, Iowa to help the city's water department develop an enterprise geographic information system (GIS).
Based in Kansas City, Mo., GE Energy's geospatial data management group provides GIS implementation services and photogrammetric mapping to private sector civil and environmental engineering firms, utilities, pipeline operators, and civil government.
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Controllership processes worked to identify SFAS 133 issue and correct.
Controllership processes worked to identify SFAS 133 issue and correct. $381 million positive cumulative impact for 2001 - 1Q05. TY 2005 EPS guidance is reaffirmed at $1.78 - $1.83, up 11-14%.
Investor Contact Information
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FAIRFIELD, Conn.--(BUSINESS WIRE)--May 5, 2005--GE will Webcast a conference call on Friday, May 6, at 8:00 a.m. ET. On the call, GE executives will provide an operational, strategic and financial update. In addition, GE is reaffirming its previous 2005 earnings per share guidance of $1.78-$1.83.
The call can be accessed at www.ge.com/investor on 800-322-2803, passcode 42801571 (international 617-614-4925. Material related to the call will be available on the Web site Friday morning shortly before the call begins.
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STAMFORD, Conn.--(BUSINESS WIRE)--May 5, 2005--GE Commercial Finance, the business-to-business financial services unit of the General Electric Company (NYSE: GE), today announced that it has agreed to sell Storage USA for $US2.3 billion in cash to a joint venture between Extra Space Storage Inc. (NYSE:EXR) and Prudential Real Estate Investors, which is acting on behalf of its institutional clients.
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May 4, 2005 -- EVENDALE, Ohio - GE Transportation's marine gas turbine business announced it will supply Ishikawajima-Harima Heavy Industries, Co. Ltd. (IHI) with four GE LM2500 aeroderivative gas turbines. The engines will power the first of a new class of Japan Maritime Self-Defense Force's (JMSDF) helicopter-carrying destroyers.
The first vessel will be know as the 16DDH, and it is anticipated that at least one additional DDH destroyer will be built in the coming years.
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KUALA LUMPUR, MALAYSIA, May 4, 2005: -- GE Energy is supplying four gas turbines, additional equipment and services for a cogeneration plant located inside an oil refinery in Melaka, on the southwestern coast of Peninsular Malaysia.
The refinery is owned by PETRONAS Penapisan ( Melaka) Sdn Bhd, a wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS), Malaysia's national petroleum corporation. Based in Kuala Lumpur, the PETRONAS Group operates in 34 countries and is ranked among the Fortune Global 500 companies.
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STAMFORD, Conn.--(BUSINESS WIRE)--May 5, 2005--GE Commercial Finance, the business-to-business financial services unit of the General Electric Company (NYSE: GE), today announced that it has agreed to sell Storage USA for $US2.3 billion in cash to a joint venture between Extra Space Storage Inc. (NYSE:EXR) and Prudential Real Estate Investors, which is acting on behalf of its institutional clients.