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Wednesday, 20 February, 2002, 18:03 GMT
GE opens up to nervous investors
GE logo
GE is the world's largest company
General Electric has agreed to open up its financial workings after coming under pressure from investors still twitchy after the collapse of Enron.

GE, the world's largest company, is to make available revenue and operating information on all of its 26 businesses.

Investors have been shying away from companies with complex financial structures after energy giant Enron used its convoluted make-up to conceal debts and distort its profits.

Recently, electronics to plastics conglomerate Tyco International saw its stock value tumble as investors washed their hands of firms with accounting practices that are anything but transparent.

Webcasts

While there is no suggestion of Enron-esqe shady dealings at Tyco and GE, both companies have felt what has become known as the "Enron ripple" or "Enronitis".

GE said it would provide more specific information about its accounting in its annual report in March.

GE spokesman David Frail said the company has been providing a great deal of information about its businesses already.

He said GE had been webcasting analysts' meetings and providing related information since chairman and chief executive Jeff Immelt took over in September.

Profits at General Electric, whose interests span aerospace, finance and broadcasting, have moved steadily upward for some time.

Post 11 September, it slipped back into single digit growth for the first time in three years

See also:

30 Jan 02 | Business
Tyco hit by 'Enron ripple'
04 Feb 02 | Business
GE engulfed in 'Enron ripple'
13 Feb 02 | Business
Enron scandal at-a-glance
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