General Electric makes gains in manufacturing
General Electric’s shift back to its manufacturing roots is paying off.
The conglomerate has pumped billions of dollars into new energy-related businesses during the past few years while selling its stake in NBC, commercial real estate and other businesses. The move has softened the blow from the recession, and it expects double-digit earnings growth this year.
GE said Friday that net income fell 16 percent in the second quarter, mainly due to lingering charges from financing companies that were sold off four years ago.
