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— Industrial conglomerate General Electric gave investors a close look at its troubled GE Capital finance arm Tuesday, part of its broader effort to be more transparent about the operations of the unit that offers loans ranging from office buildings to overseas mortgages.
Many investors are wondering how much longer GE Capital will continue to post large losses from factors like loan defaults. GE said Tuesday that it expects those losses and impairments to continue into 2010, but that forecasting an exact time when they will begin to subside will be difficult.
GE Chief Financial Officer Keith Sherin was one of several top GE executives who tried to answer those questions on a conference call with analysts.
QUESTION: Where do you see and when do you see the provision of loss peaking. What time frame?
RESPONSE: "It's a great question. We had a good discussion about it last night. If you go around the table with everybody, we have a little different view on each production line ... It's a forecast, we really don't have one solid consensus about, 'This is going to happen in this quarter.'"
"I think we have got a lot of data and information to sort through here, but you are going to get a better view of that as we go through the third quarter."
