Fairfield-based General Electric Co. expects its struggling finance unit to be profitable in the first quarter of 2009 and for the full year.
GE also says it’s committed to GE Capital and that it has enough capital to weather the economic downturn.
GE is opening the unit’s books at an investor conference today. It’s trying to convince investors GE Capital is sound despite an economic slowdown that has squelched borrowing and pushed up delinquencies on credit cards and mortgages.
At 11 a.m., GE traded at $11.05, up 73 cents, or 7.1 percent. (AP)
