Coster, Helen; Fisher, Daniel
October 2008
Forbes Asia;10/27/2008, Vol. 4 Issue 18, p75
The article talks about the present financial condition of General Electric Co. (GE). It is reported that the company is facing rising defaults. It had to accept $3 billion from investor Warren Buffett's Berkshire Hathaway Inc. at a 10 percent interest rate. According to its chief executive Jeffrey Immelt, things have become desperate at the company. Also it is reported that since January 2008 the cost of insuring GE debt against default for five years has risen ninefold.


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