Texas Business Lawyer

In spite of an increasingly dismal economic forecast, General Electric reported Friday that it met both fourth quarter and full year profit predictions, reaching a total of $22 billion for 2007.

General Electric, known as a highly diversified company dealing in such things as household electronics, commercial infrastructure, and even the entertainment industry, saw growth in all three of these divisions. The 10% gain made by GE-owned NBC Universal was especially promising because of the difficulties it has had in recent years. Even the company’s financial wing managed a 7% profit increase in the midst of a troubled financial market. Only GE’s healthcare division faltered, ending the year with a 4% loss.

From a consumer’s viewpoint, some more bad news: restructuring by GE’s household electronics division resulted in the loss of 1,400 jobs worldwide. Also, though GE appears to be pulling through the declining economy, the same cannot be said for many other companies, both large and small.

If your company is suffering due to business issues, get in touch with a business lawyer at Slater & Kennon for a consultation.