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GENERAL ELECTRIC COMPANY

(GE)
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General Electric Company : GE Capital Selects Place St. Charles as Site of New Orleans Technology Center

04/11/2012 | 11:05am EST

GE Capital, the financial services division of GE (NYSE: GE), announced today that it has signed a long-term lease for approximately 60,000 square feet of office space at Place St. Charles. The downtown New Orleans office building will serve as the site of the GE Capital Technology Center, expected to open in late summer 2012. Once fully staffed the Center will house 300 information technology professionals and focus on developing innovative new software, processes and technologies to drive excellence for GE Capital and its customers.

"We are very pleased with Place St. Charles," said Mike De Boer, Chief Information Officer of the GE Capital Technology Center in New Orleans. "The building's Class A office space, attractive amenities and convenient location will allow us to create a world-class IT hub in the heart of New Orleans and to form an integral part of the local business community."

Site selection marks the latest milestone in the Technology Center's launch preparations since GE Capital announced in February its plans to establish a technology center in New Orleans. The Center has also begun recruiting for its first open positions, searching for talented IT experts in the areas of:

  • Application and Enterprise Architecture
  • Business Solutions
  • Computing Operations
  • Data Management
  • Enterprise Services
  • Networking Services

Interested candidates can go to http://www.ge.com/careers/ge_capital_technology_center.html for the latest information.

Place St. Charles contains over 930,000 square feet of office space and 60,000 square feet of retail space. It is located in New Orleans' Central Business District on St. Charles Avenue, two blocks from the French Quarter and on the St. Charles streetcar line.

The GE Capital Technology Center in New Orleans is part of a three-year trend of GE investing in technology centers in important American cities. In Detroit, GE opened the Advanced Manufacturing and Software Technology Center that employs roughly 800 information technologists and will bring 1,100 jobs to Michigan by 2013. In Richmond, Virginia, GE opened the Information Security Technology Center that will house 200 hi-tech IT security professionals. In San Ramon, California, GE's Global Software Center will hire 400 software professionals focused on increasing the pace of innovation, collaboration and commercialization of new technologies.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About GE Capital

GE Capital is one of the world's largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, retail sales finance programs, home, car and personal loans and credit insurance. For more information, visit gecapital.com or follow company news via Twitter @GECapital.

Media:
GE Capital
Kimberly McGinnis, 203-840-6560
Kimberly.mcginnis@ge.com


ę Business Wire 2012
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Financials (USD)
Sales 2021 75 120 M - -
Net income 2021 1 105 M - -
Net Debt 2021 11 650 M - -
P/E ratio 2021 133x
Yield 2021 0,35%
Capitalization 102 B 102 B -
EV / Sales 2021 1,51x
EV / Sales 2022 1,40x
Nbr of Employees 174 000
Free-Float 74,1%
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Number of Analysts 20
Last Close Price 92,77 $
Average target price 127,28 $
Spread / Average Target 37,2%
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Managers and Directors
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
Nancy Anderson Chief Information Officer & Vice President
James S. Tisch Independent Director
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