GE’s Immelt calls for emission norms, eyes exports to India, China

GE’s Immelt calls for emission norms, eyes exports to India, China
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First Published: Mon, Feb 25 2008. 12 15 AM IST
Updated: Mon, Feb 25 2008. 12 15 AM IST
Boston:Chief executive officer of General Electric Co. (GE) Jeffrey Immelt called for regulations on carbon emissions in the US so that more energy-efficient products developed here fit regulations globally and can be exported. “We can sit here and talk about China and India as much as we want, and they’re burning a lot of coal today,” Immelt told a panel at a meeting of the National Governors Association in Washington on Saturday. “But they’re going to get better someday, and I’d rather they get better with technologies I’m making and selling from here than things we just delegate to them because we were too lazy to do it in the first place.”
Immelt has called for a carbon emissions regulation in the US and has met with White House officials on climate change. GE set a target of $20 billion (Rs80,000 crore) in sales by 2010 on more environment-friendly products, reaping about $14 billion in such sales last year, the Fairfield, Connecticut-based company said in October. “You always have to start with efficiency; let’s make the existing products more efficient,” Immelt said. “The commercial jet that will go on the Boeing 787 has got a fuel burn that’s 20% better than what it replaced. It’s got emissions 50% less than what it replaced.”
-Bloomberg
50% of malls may shut down by 2010: Expert
Mumbai: Consolidation in the retail industry would result in nearly 50% of the malls shutting down by March 2010 and the hoopla surrounding the sector would considerably subside by then, a brand expert has said.
“By March 2010, around 50% of malls would close down while retailers focusing on consumers would thrive. Those who focus on investors, however, will not survive,” Samsika Marketing Consultants Pvt. Ltd chairman and managing director Jagdeep Kapoor said. Retailers think that consumer demand had increased but they do not realise that consumers had also become more demanding, he said. “Those who will understand both will survive.”
By the end of the calendar year, margins of organized retailers were likely to decline, Hypercity CEO Andrew Levermore said. “Retailers, especially in the food and groceries business, would be the worst affected.” “We will see some consolidation and mergers and acquisitions happening in the sector,” Levermore said.
-PTI
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First Published: Mon, Feb 25 2008. 12 15 AM IST
More Topics: GE | Immelt | India | China | White House |