GE: "Adverse" case shows breakeven year at Capital
Published: 19 Mar 2009 17:24:06 PSTNEW YORK, March 19 - General Electric Co's forecasting shows that even under the Federal Reserve's adverse-case scenario for the U.S. economy in 2009, its GE Capital unit should have at least break-even results, the unit's head said on Thursday.
Based on the Fed's base-case scenario for the economy, profit would come to $2 billion to $2.5 billion.
"Even in the adverse case we're probably break-even to slightly profitable," said Michael Neal, chief executive of GE Capital
In December, the U.S. conglomerate had forecast that the GE Capital unit would earn about $5 billion in 2009.
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