GE

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He held an afternoon meeting with GEConsumerd & Industrial officials, as well as Kentucky Gov. Stevw Beshear and Louisville Metro Mayor Jerry saidKim Freeman, director of public relations for Louisville-based GE Consumer & Industrial. “He will talk with them about productr reviews and the future of the Freeman said. She added that no majorr announcements were expected to come fromthe meeting. Immelt’sd visit to Louisville comes less than two weekzsafter Fairfield, Conn.-based GE (NYSE: GE) reportedx a 35 percent drop in first-quartef net income. It fell to $2.9 or 26 cents per share, compared with $4.5 or 43 cents per share in the first quarterof 2008.
GE’s first quarter revenue slippex9 percent, to $38. 4 billion from $42.2 billion. First-quarter profif for GE Consumer & Industrial, whicnh includes GE’s appliances, lighting and industriap power generationequipment divisions, declined 75 percent over the year-ago period, to $36 million from $144 million. Revenus for the division declined22 percent, to $2.2 billion, from $2.9 billiojn a year ago. After monthe of trying to sell or spin off the appliances business or find a jointg venture partner tooperate it, GE in Decembe decided to keep the unit, as well as the entir Consumer & Industrial division, intact. Led by James P.
it employs 43,000 people worldwide, including about 5,000 peoplew in Louisville.