Brooklyn Startup Creates Personal Countdown Clocks For MTA Riders

Do not have a contact to buy. Contact WCBS in New York

PenneyVanderbilt

NewYork CBSLOCAL

A Brooklyn startup is selling what it thinks is the perfect Christmas gift for Metropolitan Transportation Authority riders: personal countdown clocks.

You’ve been there – you race to the train and if you’re lucky, a digital display tells you how long you’ll have to wait.

The NYC Train Sign is like a home edition that you can fit on your bookshelf, WCBS 880’s Ethan Harp reported.

“This is a slimmed down, commercial version for bars, restaurants and homes,” said founder Timothy Woo, who built one for his Bushwick apartment.

Models start at $300 and come wrapped in wood, metal or plastic.

“Some people want them for home décor, as art or novelty items. Some people buy it for sheer practical reasons,” Woo said. “They live very close to the subway and actually want to look up at the clock and know when to run out the door.”

With…

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Brooklyn Startup Creates Personal Countdown Clocks For MTA Riders

NewYork CBSLOCAL

A Brooklyn startup is selling what it thinks is the perfect Christmas gift for Metropolitan Transportation Authority riders: personal countdown clocks.

You’ve been there – you race to the train and if you’re lucky, a digital display tells you how long you’ll have to wait.

The NYC Train Sign is like a home edition that you can fit on your bookshelf, WCBS 880’s Ethan Harp reported.

“This is a slimmed down, commercial version for bars, restaurants and homes,” said founder Timothy Woo, who built one for his Bushwick apartment.

Models start at $300 and come wrapped in wood, metal or plastic.

“Some people want them for home décor, as art or novelty items. Some people buy it for sheer practical reasons,” Woo said. “They live very close to the subway and actually want to look up at the clock and know when to run out the door.”

With internet, you can track most New York City subway, Metro-North, LIRR and PATH trains in real time, along with buses.

“It’s posted in my window as a public service. So it’s pretty cool. In the morning, you’ll see a small group of people as the train’s coming out in front of my house,” said Woo.

What does the MTA think of this?

“They haven’t responded to us directly, but I’m sure they have a lot of other things to worry about,” he said.

clocks

This is the MTA verson of countdown clock

Elon Musk wants to start digging in Los Angeles

Bizjournals Orlando

Elon Musk’s idea for The Boring Co. is less than a year old, but he’s ready to start digging a tunnel under Los Angeles.

The man who leads SpaceX and Tesla (Nasdaq: TSLA) applied for approval from L.A. officials to start burrowing along the 405 freeway, reported the Los Angeles Times.

The privately funded project would start near Hawthorne, Calif. — where SpaceX is headquartered and where The Boring Co. already has started digging — and parallel the 405 north toward Westwood. The route would include “a number of stops along the way,” a company spokesperson said.

Musk first started digging in an old SpaceX parking lot in Hawthorne, and in August got permission from the city to extend the tunnel past the property line.

Last month, he shared a photo of the project’s progress, saying that The Boring Co. has dug 500 feet so far, and the tunnel should reach two miles in three or four months, with the goal of paralleling the 405 freeway from Los Angeles International Airport to the 101 “in a year or so.”

However, that seems an unlikely timeline with requirements such as city approvals of the nascent technology, permits and environmental reviews. Councilman Mike Bonin invited Boring to present at the city council next year, the Times said.

Meanwhile, Los Angeles County already has a plan to build a $5 billion tunnel through the Sepulveda Pass, also along the 405.

Back in Hawthorne, The Boring Co. has permission to dig a two-mile underground test track extending west from the SpaceX headquarters under the northeast corner of the local airport and along 120th Street.

Such a system would reduce a trip from Westwood to the airport to five minutes, Musk has speculated.

In addition, the company got permission to start digging a similar tunnel on the other side of the country. The state of Maryland issued a conditional utility permit to tunnel 10.3 miles under part of the Baltimore-Washington Parkway.

That dig is just the first step toward an underground hyperloop that would connect New York, Philadelphia, Baltimore and Washington, D.C. — an idea Musk proposed on Twitter over the summer. The trip would take just 29 minutes.

A Florida Hyperloop One route has been talked about. The proposed 257-mile Florida route would be a speedy 26-minute trip, and would call for connections at the Dolphin Mall in Miami and Orlando’s Walt Disney World Resort, as Orlando Business Journal previously reported.

Musk has released a steady stream of renderings of the Hyperloop One project, including how the system would work, what it would look like to ride through the tunnels and what passenger vehicles would look like.

SO WHAT HAPPENED TO GENERAL ELECTRIC? PART 8 (YEARS 2010-2012)

Special Guest Blog By Ken Kinlock


Shale Gas Revolution
To make compressed natural gas (CNG) more accessible as a transportation fuel, GE Oil & Gas and Chesapeake Energy created a compact refueling solution, the CNG In A Box™ system. The benefits are impressive: For every fleet vehicle filled with CNG instead of gasoline, carbon dioxide emissions equivalents are reduced about 24%.

GE_AR12 Dividend History

Summary of Operating Segments

General Electric Company and consolidated affiliates
(In millions) 2012 2011 2010 2009 2008
REVENUES (a)
Power & Water $ 28,299 $ 25,675 $ 24,779 $ 27,389 $ 28,537
Oil & Gas 15,241 13,608 9,433 9,683 9,886
Energy Management 7,412 6,422 5,161 5,223 6,427
Aviation 19,994 18,859 17,619 18,728 19,239
Healthcare 18,290 18,083 16,897 16,015 17,392
Transportation 5,608 4,885 3,370 3,827 5,016
Home & Business
Solutions 7,967 7,693 7,957 7,816 9,304
Total industrial
segment revenues 102,811 95,225 85,216 88,681 95,801
GE Capital 46,039 49,068 49,856 51,776 68,541
Total segment
revenues 148,850 144,293 135,072 140,457 164,342
Corporate items
and eliminations (b)(1,491) 2,995 14,495 13,939 15,427
CONSOLIDATED
REVENUES $147,359 $147,288 $149,567 $154,396 $179,769

SEGMENT PROFIT
Power & Water $ 5,422 $ 5,021 $ 5,804 $ 5,592 $ 4,563
Oil & Gas 1,924 1,660 1,406 1,440 1,555
Energy Management 131 78 156 144 478
Aviation 3,747 3,512 3,304 3,923 3,684
Healthcare 2,920 2,803 2,741 2,420 2,851
Transportation 1,031 757 315 473 962
Home & Business
Solutions 311 237 404 360 287
Total industrial
segment profit 15,486 14,068 14,130 14,352 14,380
GE Capital 7,401 6,584 3,120 1,253 7,470
Total
segment profit 22,887 20,652 17,250 15,605 21,850
Corporate items and
eliminations (b) (4,842) (287) (1,013) (507) 1,516
GE interest
and other financial
charges (1,353) (1,299) (1,600) (1,478) (2,153)
GE provision for
income taxes (2,013) (4,839) (2,024) (2,739) (3,427)
Earnings from continuing operations attributable
to the Company 14,679 14,227 12,613 10,881 17,786
Earnings (loss) from discontinued operations,
net of taxes (1,038) (76) (969) 144 (376)
CONSOLIDATED NET EARNINGS ATTRIBUTABLE
TO THE COMPANY $ 13,641 $ 14,151 $ 11,644 $ 11,025 $ 17,410

POWER & WATER revenues of $28.3 billion increased $2.6 billion, or
10%, in 2012 as higher volume ($3.4 billion), driven by an increase
in sales of equipment at Wind, and an increase in other income
($0.2 billion) were partially offset by the effects of the stronger
U.S. dollar ($0.6 billion) and lower prices ($0.4 billion).
Segment profit of $5.4 billion increased $0.4 billion, or 8%,
in 2012 as higher volume ($0.7 billion), increased other income
($0.2 billion) and the impacts of deflation ($0.1 billion), were
partially offset by lower prices ($0.4 billion), lower productivity
($0.1 billion) and the effects of the stronger U.S. dollar
($0.1 billion).
Power & Water revenues of $25.7 billion increased $0.9 billion
(including $0.3 billion from acquisitions), or 4%, in 2011 as higher
volume ($0.9 billion) and the effects of the weaker U.S. dollar
($0.4 billion) were partially offset by lower prices ($0.5 billion).
Segment profit of $5.0 billion decreased $0.8 billion, or 13%, in
2011 as lower productivity ($0.7 billion), and lower prices ($0.5 billion), driven primarily by Wind, were partially offset by higher
volume ($0.2 billion) and the effects of deflation ($0.1 billion).
Power & Water segment orders decreased 10% to $24.2 billion
in 2012. Total Power & Water backlog increased 1% to $58.8 billion
at December 31, 2012, composed of equipment backlog of
$8.6 billion and services backlog of $50.2 billion. Comparable
December 31, 2011 equipment and service order backlogs
were $12.0 billion and $45.9 billion, respectively. See Corporate
Items and Eliminations for a discussion of items not allocated to
this segment.

OIL & GAS revenues of $15.2 billion increased $1.6 billion (including
$0.7 billion from acquisitions), or 12%, in 2012 as higher
volume ($2.3 billion) driven by acquisitions and an increase in
sales of both equipment and services was partially offset by the
effects of the stronger U.S. dollar ($0.7 billion).
Segment profit of $1.9 billion increased $0.3 billion, or 16%, in
2012 as higher volume ($0.3 billion) and increased productivity
($0.1 billion), reflecting increased equipment margins, were partially
offset by the effects of the stronger U.S. dollar ($0.1 billion).
Oil & Gas revenues of $13.6 billion increased $4.2 billion
(including $2.9 billion from acquisitions), or 44%, in 2011 as higher
volume ($3.8 billion) and the effects of the weaker U.S. dollar
($0.4 billion) were partially offset by lower prices ($0.1 billion).
Segment profit of $1.7 billion increased $0.3 billion, or 18%,
in 2011 as higher volume ($0.6 billion) was partially offset by
lower productivity ($0.3 billion) and lower prices ($0.1 billion).
Oil & Gas segment orders increased 16% to $18.2 billion
in 2012. Total Oil & Gas backlog increased 24% to $14.8 billion
at December 31, 2012, composed of equipment backlog of
$10.2 billion and services backlog of $4.5 billion. Comparable
December 31, 2011 equipment and service order backlogs
were $8.5 billion and $3.5 billion, respectively. See Corporate
Items and Eliminations for a discussion of items not allocated to
this segment.

ENERGY MANAGEMENT revenues of $7.4 billion increased $1.0 billion
(including $1.0 billion from acquisitions), or 15%, in 2012 as
higher volume ($1.1 billion) primarily driven by acquisitions, higher
prices ($0.1 billion) and increased other income ($0.1 billion)
were partially offset by the effects of the stronger U.S. dollar
($0.2 billion).
Segment profit of $0.1 billion increased $0.1 billion, or 68%, in
2012 as a result of higher prices ($0.1 billion) and increased other
income ($0.1 billion).
Energy Management revenues of $6.4 billion increased $1.3 billion
(including $0.8 billion from acquisitions), or 24%, in 2011 as
higher volume ($1.2 billion), mainly driven by acquisitions, the effects
of the weaker U.S. dollar ($0.1 billion) and higher prices ($0.1 billion)
were partially offset by decreased other income ($0.1 billion).
Segment profit of $0.1 billion decreased $0.1 billion, or 50%,
in 2011 as the effects of inflation ($0.1 billion) and decreased
other income ($0.1 billion) were partially offset by higher prices
($0.1 billion).
Energy Management segment orders increased 16% to
$7.9 billion in 2012. Total Energy Management backlog increased
6% to $3.8 billion at December 31, 2012, composed of equipment
backlog of $3.2 billion and services backlog of $0.6 billion.
Comparable December 31, 2011 equipment and service order
backlogs were $2.8 billion and $0.8 billion, respectively. See
Corporate Items and Eliminations for a discussion of items not
allocated to this segment.

AVIATION revenues of $20.0 billion increased $1.1 billion, or 6%, in
2012 due primarily to higher prices ($0.8 billion) and higher volume
($0.4 billion), which were driven by increased commercial
and military engine sales.
Segment profit of $3.7 billion increased $0.2 billion, or 7%, in
2012 due primarily to higher prices ($0.8 billion) and higher volume
($0.1 billion), partially offset by higher inflation ($0.3 billion)
and lower productivity ($0.3 billion).
Aviation revenues of $18.9 billion increased $1.2 billion, or
7%, in 2011 due primarily to higher volume ($1.1 billion) and
higher prices ($0.2 billion), partially offset by lower other income
($0.1 billion). Higher volume and higher prices were driven by
increased services ($0.9 billion) and equipment sales ($0.4 billion).
The increase in services revenue was primarily due to higher
commercial spares sales while the increase in equipment revenue
was primarily due to commercial engines.
Segment profit of $3.5 billion increased $0.2 billion, or 6%,
in 2011 due primarily to higher volume ($0.2 billion) and higher
prices ($0.2 billion), partially offset by higher inflation, primarily
non-material related ($0.1 billion), and lower other income
($0.1 billion). Incremental research and development and GEnx
product launch costs offset higher productivity.
Aviation equipment orders increased 8% to $13.0 billion
in 2012. Total Aviation backlog increased 3% to $102.4 billion
at December 31, 2012, composed of equipment backlog of
$22.9 billion and services backlog of $79.5 billion. Comparable
December 31, 2011 equipment and service order backlogs
were $22.5 billion and $76.5 billion, respectively. See Corporate
Items and Eliminations for a discussion of items not allocated to
this segment.

HEALTHCARE revenues of $18.3 billion increased $0.2 billion, or
1%, in 2012 due to higher volume ($0.8 billion) and other income
($0.1 billion), partially offset by the stronger U.S. dollar ($0.4 billion) and lower prices ($0.3 billion). The revenue increase, driven
by higher equipment sales, is attributable to international markets,
with the strongest growth in emerging markets.
Segment profit of $2.9 billion increased $0.1 billion, or 4%, in
2012 reflecting increased productivity ($0.4 billion), higher volume
($0.1 billion) and other income ($0.1 billion), partially offset by
lower prices ($0.3 billion) and higher inflation ($0.2 billion), primarily non-material related.
Healthcare revenues of $18.1 billion increased $1.2 billion, or
7%, in 2011 due to higher volume ($1.0 billion) and the weaker
U.S. dollar ($0.4 billion), partially offset by lower prices ($0.3 billion).
The revenue increase was split between equipment sales
($0.7 billion) and services ($0.5 billion). Revenue increased in the
U.S. and international markets, with the strongest growth in
emerging markets.
Segment profit of $2.8 billion increased 2%, or $0.1 billion, in
2011 reflecting increased productivity ($0.3 billion), higher volume
($0.2 billion) and the weaker U.S. dollar ($0.1 billion), partially
offset by lower prices ($0.3 billion) and higher inflation ($0.1 billion),primarily non-material related.

Healthcare equipment orders increased 5% to $11.1 billion
in 2012. Total Healthcare backlog increased 15% to $15.4 billion
at December 31, 2012, composed of equipment backlog of
$4.5 billion and services backlog of $10.9 billion. Comparable
December 31, 2011 equipment and service order backlogs
were $3.9 billion and $9.6 billion, respectively. See Corporate
Items and Eliminations for a discussion of items not allocated to
this segment.

TRANSPORTATION revenues of $5.6 billion increased $0.7 billion, or
15%, in 2012 due to higher volume ($0.6 billion) and higher prices
($0.1 billion). The revenue increase was split between equipment
sales ($0.4 billion) and services ($0.3 billion). The increase in
equipment revenue was primarily driven by an increase in U.S.
locomotive sales and growth in our global mining equipment
business. The increase in service revenue was due to higher
overhauls and increased service productivity.
Segment profit of $1.0 billion increased $0.3 billion, or 36%,
in 2012 as a result of higher volume ($0.1 billion), higher prices
($0.1 billion) and increased productivity ($0.1 billion), reflecting
improved service margins.
Transportation revenues of $4.9 billion increased $1.5 billion,
or 45%, in 2011 due to higher volume ($1.5 billion) related
to increased equipment sales ($0.9 billion) and services ($0.6 billion).
The increase in equipment revenue was primarily driven
by an increase in U.S. and international locomotive sales and
growth in our global mining equipment business. The increase
in service revenue was due to higher overhauls and increased
service productivity.
Segment profit of $0.8 billion increased $0.4 billion, or over
100%, in 2011 as a result of increased productivity ($0.4 billion),
reflecting improved service margins, and higher volume ($0.1 billion),
partially offset by higher inflation ($0.1 billion).
Transportation equipment orders increased 35% to $3.0 billion
in 2012. Total Transportation backlog decreased 5% to $14.4 billion
at December 31, 2012, composed of equipment backlog of
$3.3 billion and services.

AVIATION revenues of $20.0 billion increased $1.1 billion, or 6%, in
2012 due primarily to higher prices ($0.8 billion) and higher volume
($0.4 billion), which were driven by increased commercial
and military engine sales.
Segment profit of $3.7 billion increased $0.2 billion, or 7%, in
2012 due primarily to higher prices ($0.8 billion) and higher volume
($0.1 billion), partially offset by higher inflation ($0.3 billion)
and lower productivity ($0.3 billion).
Aviation revenues of $18.9 billion increased $1.2 billion, or
7%, in 2011 due primarily to higher volume ($1.1 billion) and
higher prices ($0.2 billion), partially offset by lower other income
($0.1 billion). Higher volume and higher prices were driven by
increased services ($0.9 billion) and equipment sales ($0.4 billion).
The increase in services revenue was primarily due to higher
commercial spares sales while the increase in equipment revenue
was primarily due to commercial engines.
Segment profit of $3.5 billion increased $0.2 billion, or 6%,
in 2011 due primarily to higher volume ($0.2 billion) and higher
prices ($0.2 billion), partially offset by higher inflation, primarily
non-material related ($0.1 billion), and lower other income
($0.1 billion). Incremental research and development and GEnx
product launch costs offset higher productivity.
Aviation equipment orders increased 8% to $13.0 billion
in 2012. Total Aviation backlog increased 3% to $102.4 billion
at December 31, 2012, composed of equipment backlog of
$22.9 billion and services backlog of $79.5 billion. Comparable
December 31, 2011 equipment and service order backlogs
were $22.5 billion and $76.5 billion, respectively. See Corporate
Items and Eliminations for a discussion of items not allocated to
this segment.
management’s discussion and analysis

HEALTHCARE revenues of $18.3 billion increased $0.2 billion, or
1%, in 2012 due to higher volume ($0.8 billion) and other income
($0.1 billion), partially offset by the stronger U.S. dollar ($0.4 billion)
and lower prices ($0.3 billion). The revenue increase, driven
by higher equipment sales, is attributable to international markets,
with the strongest growth in emerging markets.
Segment profit of $2.9 billion increased $0.1 billion, or 4%, in
2012 reflecting increased productivity ($0.4 billion), higher volume
($0.1 billion) and other income ($0.1 billion), partially offset by
lower prices ($0.3 billion) and higher inflation ($0.2 billion), primarily
non-material related.
Healthcare revenues of $18.1 billion increased $1.2 billion, or
7%, in 2011 due to higher volume ($1.0 billion) and the weaker
U.S. dollar ($0.4 billion), partially offset by lower prices ($0.3 billion).
The revenue increase was split between equipment sales
($0.7 billion) and services ($0.5 billion). Revenue increased in the
U.S. and international markets, with the strongest growth in
emerging markets.
Segment profit of $2.8 billion increased 2%, or $0.1 billion, in
2011 reflecting increased productivity ($0.3 billion), higher volume
($0.2 billion) and the weaker U.S. dollar ($0.1 billion), partially
offset by lower prices ($0.3 billion) and higher inflation ($0.1 billion),
primarily non-material related.
Healthcare equipment orders increased 5% to $11.1 billion
in 2012. Total Healthcare backlog increased 15% to $15.4 billion
at December 31, 2012, composed of equipment backlog of
$4.5 billion and services backlog of $10.9 billion. Comparable
December 31, 2011 equipment and service order backlogs
were $3.9 billion and $9.6 billion, respectively. See Corporate
Items and Eliminations for a discussion of items not allocated to
this segment.
TRANSPORTATION revenues of $5.6 billion increased $0.7 billion, or
15%, in 2012 due to higher volume ($0.6 billion) and higher prices
($0.1 billion). The revenue increase was split between equipment
sales ($0.4 billion) and services ($0.3 billion). The increase in
equipment revenue was primarily driven by an increase in U.S.
locomotive sales and growth in our global mining equipment
business. The increase in service revenue was due to higher
overhauls and increased service productivity.
Segment profit of $1.0 billion increased $0.3 billion, or 36%,
in 2012 as a result of higher volume ($0.1 billion), higher prices
($0.1 billion) and increased productivity ($0.1 billion), reflecting
improved service margins.
Transportation revenues of $4.9 billion increased $1.5 billion,
or 45%, in 2011 due to higher volume ($1.5 billion) related
to increased equipment sales ($0.9 billion) and services ($0.6 billion).
The increase in equipment revenue was primarily driven
by an increase in U.S. and international locomotive sales and
growth in our global mining equipment business. The increase
in service revenue was due to higher overhauls and increased
service productivity.
Segment profit of $0.8 billion increased $0.4 billion, or over
100%, in 2011 as a result of increased productivity ($0.4 billion),
reflecting improved service margins, and higher volume ($0.1 billion),
partially offset by higher inflation ($0.1 billion).
Transportation equipment orders increased 35% to $3.0 billion
in 2012. Total Transportation backlog decreased 5% to $14.4 billion
at December 31, 2012, composed of equipment backlog of
$3.3 billion and services.

Home & Business Solutions revenues of $7.7 billion decreased
$0.3 billion, or 3%, in 2011 reflecting a decrease at Appliances
partially offset by higher revenues at Lighting. Overall, revenues
decreased primarily as a result of lower volume ($0.4 billion) principally
at Appliances, partially offset by the weaker U.S. dollar
($0.1 billion) and higher prices.
Segment profit of $0.2 billion decreased 41%, or $0.2 billion,
in 2011 as the effects of inflation ($0.3 billion) were partially offset
by the effects of the weaker U.S. dollar, increased productivity
and higher prices. See Corporate Items and Elimination for a discussion
of items not allocated to this segment.

Geographic Operations
Our global activities span all geographic regions and primarily
encompass manufacturing for local and export markets, import
and sale of products produced in other regions, leasing of aircraft,
sourcing for our plants domiciled in other global regions
and provision of financial services within these regional economies.
Thus, when countries or regions experience currency and/
or economic stress, we often have increased exposure to certain
risks, but also often have new opportunities that include, among
other things, more opportunities for expansion of industrial and
financial services activities through purchases of companies or
assets at reduced prices and lower U.S. debt financing costs.

Revenues are classified according to the region to which products
and services are sold. For purposes of this analysis, the U.S.
is presented separately from the remainder of the Americas.
GEOGRAPHIC REVENUES
(In billions) 2012 2011 2010
U.S. $ 70.4 $ 69.8 $ 75.1
Europe 27.4 29.0 30.9
Pacific Basin 24.5 23.2 20.8
Americas 13.2 13.3 11.7
Middle East and Africa 11.9 12.0 11.1
Total $147.4 $147.3 $149.6
Global revenues were $76.9 billion in 2012, compared with
$77.5 billion and $74.5 billion in 2011 and 2010, respectively. Global
revenues to external customers as a percentage of consolidated
revenues were 52% in 2012, compared with 53% in 2011 and 50%
in 2010. The effects of currency fluctuations on reported results
decreased revenues by $2.6 billion in 2012 and increased revenues
by $2.5 billion and $0.5 billion in 2011 and 2010, respectively.

Global revenues were $76.9 billion in 2012, compared with
$77.5 billion and $74.5 billion in 2011 and 2010, respectively. Global
revenues to external customers as a percentage of consolidated
revenues were 52% in 2012, compared with 53% in 2011 and 50%
in 2010. The effects of currency fluctuations on reported results
decreased revenues by $2.6 billion in 2012 and increased revenues
by $2.5 billion and $0.5 billion in 2011 and 2010, respectively.
GE global revenues, excluding GECC, in 2012 were $57.3 billion,
up 5% over 2011. Increases in growth markets of 20% in
China, 22% in Australia and New Zealand and 8% in Latin America
more than offset a decrease of 36% in India. These revenues as
a percentage of GE total revenues, excluding GECC, were 57%
in 2012, compared with 55% and 50% in 2011 and 2010, respectively.
GE global revenues, excluding GECC, were $54.3 billion in
2011, up 9% from 2010, primarily resulting from increases in Latin
America, China and Australia and New Zealand, partially offset by
a decrease in Europe.
GECC global revenues decreased 15% to $19.7 billion in 2012,
compared with $23.2 billion and $24.7 billion in 2011 and 2010,
respectively, primarily as a result of decreases in Europe. GECC
global revenues as a percentage of total GECC revenues were
43% in 2012, compared with 47% and 50% in 2011 and 2010,
respectively. GECC global revenue decreased by 6% in 2011 from
$24.7 billion in 2010, primarily as a result of decreases in Europe.
TOTAL ASSETS (CONTINUING OPERATIONS)
December 31 (In billions) 2012 2011
U.S. $346.6 $336.6
Europe 192.8 212.5
Pacific Basin 56.4 62.3
Americas 33.6 46.7
Middle East and Africa 54.8 58.4
Total $684.2 $716.5

Total assets of global operations on a continuing basis were
$337.6 billion in 2012, a decrease of $42.3 billion, or 11%, from
2011. GECC global assets on a continuing basis of $277.6 billion at
the end of 2012 were 13% lower than at the end of 2011, reflecting
declines in Europe, primarily due to repayment of long-term
debt, decreases in the fair value of derivative instruments and
dispositions and portfolio run-off in various businesses at
Consumer. See GECC Selected European Exposures section.
Financial results of our global activities reported in U.S. dollars
are affected by currency exchange. We use a number of techniques
to manage the effects of currency exchange, including
selective borrowings in local currencies and selective hedging of
significant cross-currency transactions. Such principal currencies
are the pound sterling, the euro, the Japanese yen, the Canadian
dollar and the Australian dollar.

WORKING CAPITAL, representing GE current receivables and
inventories, less GE accounts payable and progress collections,
increased $1.0 billion at December 31, 2012, compared to
December 31, 2011 due to an increase in inventory and lower
progress collections, partially offset by decreased accounts receivable.
As Power & Water, Oil & Gas and Aviation deliver units out of their backlogs over the next few years, progress collections of
$10.9 billion at December 31, 2012, will be earned, which, along
with progress collections on new orders, will impact working
capital. We discuss current receivables and inventories, two important
elements of working capital, in the following paragraphs.
CURRENT RECEIVABLES for GE totaled to $10.9 billion at the end
of 2012 and $11.8 billion at the end of 2011, and included $7.9 billion
due from customers at the end of 2012 compared with
$9.0 billion at the end of 2011. GE current receivables turnover
was 8.8 in 2012, compared with 8.3 in 2011.
INVENTORIES for GE totaled to $15.3 billion at December 31, 2012,
up $1.6 billion from the end of 2011. This increase reflected higher
inventories across all industrial segments. GE inventory turnover
was 6.7 and 7.0 in 2012 and 2011, respectively.