General Electric at Electrical Products Group Conference Notes

Jeffrey Immelt – Chairman and CEO

Look, nobody like how the stock has traded this year

” Look, nobody likes how the stocks traded so far this year, but it’s up to us to execute and that’s what we’re committed to doing. This is the world, I think you’ve heard this week kind of the business outside the U.S. is quite strong. U.S. gets a little better each day, still the ability to get defilation we see in our markets.”

Oil and gas stabilized but off a low base

” I would say the oil and gas market stabilized. We see orders improving, but it’s off a low base. So I still think we have to underwrite caution in that space.”

New portfolio is power, healthcare, transport and resources

“So look we’ve done a ton of work around the portfolio. I would make a couple points here. We are big and what I recall four big equal systems. We’re big in power, healthcare, transport, resources, we’ve got leadership positions, diversified positions across all those. We’ve really try to I’d say narrow the scope of the company. We’ve launched a couple of things that I think are going to give us bigger pools from a profitability standpoint.”

We have divested $100 billion worth of businesses

“What I would say to you guys is look I know this is about unlocking value versus creating value and all that shit really. But really it’s just hard for us to say really and I have come down here a long time we divested more than $100 billion worth of businesses, right. We did plastics and NBC, insurance and capital. And did we get them all right, maybe not, but we got more right than wrong. And so what I would say Rob, look we’re always going to be fast on our feet and trying to create shareholder value and if we are not good at a business, we are going to sell it.”