HOFFMAN ESTATES, Ill.--(BUSINESS WIRE)--Feb. 13, 2006--Commercial Distribution Finance (CDF), a unit of GE Commercial Finance, recently established a $25 million credit facility for Nexus IS, Inc. (Nexus Integration Services), a leading provider of Voice Over Internet Protocol (VoIP) infrastructure solutions. The working capital facility provides an innovative credit structure, developed specifically for VoIP value-added resellers (VARs).
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 10, 2006--Victories and defeats in the courtroom can impact our nation's economy, with potential consequences for decades to come.
GE Insurance Solutions has been tracking and shaping efforts to level the litigation playing field - variously called tort reform or legal reform - and has published a summary of what it sees as the major legal reforms enacted during the past year and what lies ahead in 2006.
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 8, 2006--Vision may be the most important element required to underwrite liability risk, says Ajay Gupta, Marketing Leader of GE Insurance Solutions. Gupta says insurers tend to look backward at historical loss experience but not forward to factors that may impact future losses.
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STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 7, 2006--GE Consumer Finance today announced that GE Money, the Canadian consumer lending unit of General Electric Company (NYSE:GE) and Hudson's Bay Company (TSX: HBC), Canada's oldest company and largest department store retailer, have entered an acquisition agreement and 10-year alliance in which GE Money will purchase the private label credit card and related financial services assets of Hudson's Bay Company (Hbc).
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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Feb. 7, 2006--Marking its first foray into the power sports industry, GE Commercial Finance, Franchise Finance recently completed two deals totaling $25 million. The deals provide real estate financing for two power sports dealers, Kent PowerSports, of San Antonio and Brentwood, Tenn.-based America's PowerSports.
Kent PowerSports, which is owned by baseball star Jeff Kent, received $6.3 million in financing to acquire real estate at its two locations.
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STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 6, 2006--GE Consumer Finance, the global consumer lending unit of General Electric Company, announced today the appointment of William H. Cary to president and CEO, GE Consumer Finance-Europe, effective March 1, 2006. He succeeds Dan O'Connor, who steps down after having lead Consumer Finance's largest and most profitable region since 1999. Cary will report directly to David R. Nissen, president and CEO of GE Consumer Finance.
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NORWALK, Conn.--(BUSINESS WIRE)--Feb. 6, 2006--GE Commercial Finance - Technology Lending, a unit of GE Commercial Finance - Global Media & Communications, today announced that it has made a Series C preferred investment in Lithium-ion battery developer A123Systems. The investment is part of a $30 million Series C equity financing for A123, with other investors including North Bridge Venture Partners and Sequoia Capital. The transaction closed on January 27, 2006.
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NORWALK, Conn.--(BUSINESS WIRE)--Feb. 6, 2006--GE Commercial Finance - Global Sponsor Finance announced today that it will serve as Lead Arranger for a $138 million senior debt facility for Waddington North America, Inc. ("WNA"), a leading designer, manufacturer and marketer of high quality, plastic disposable tableware, and a portfolio company owned by Code, Hennessy & Simmons LLC ("CHS"). The facility closed on December 30, 2005.
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 1, 2006--The recent move by Congress to extend the Terrorism Risk Insurance Act (TRIA) did not provide the industry with the long-term solution it needs. That's the assessment of experts participating in a recent webinar sponsored by the Insurance Leadership Institute of GE Insurance Solutions.