General Electric (NYSE: GE) Vice Chair Sees “Pockets of Growth” in the Economy

General Electric Co. (NYSE: GE) Vice Chairman John Rice said that he believes emerging market demand remains strong and that he is seeing areas of growth in certain developed markets in the United States.

Rice, speaking during a conference organized by Morgan Stanley (NYSE: MS) in New York, that he is seeing “pockets of growth” and is optimistic that the economy will continue to grow, but said that there were plenty of reasons to be cautious, including unemployment and regulatory uncertainty.

The Wall Street Journal quoted Rice as saying that “there’s a caution that comes from having been through the worst recession in our business career,” He added, “So I think people are naturally a little restrained about how they think about the future.”

He noted that General Electric Co. (NYSE: GE) has the capability to spend $30 billion on acquisitions during the next two to three years, but noted that the number could be lower because “we’re not going to run out and buy something just for the sake of buying it.” He did not discuss any specific companies which General Electric Co. (NYSE: GE) might acquire, but said that the company had previously expressed interest in expanding industrial and infrastructure operations.

General Electric Company (GE) is a diversified technology, media and financial services company. The Company’s products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. The Company serves customers in more than 100 countries. The Company operates through five segments: Energy Infrastructure, Technology Infrastructure, NBC Universal (NBCU), Capital Finance and Consumer & Industrial. In March 2009, Teleflex Incorporated completed the sale of its 51% share of Airfoil Technologies International – Singapore Pte. Ltd., to GE. In September 2009, the Company sold its 81% interest in Homeland Protection business to Safran SA. In September 2009, the Company acquired ScanWind. In September 2009, Moog Inc. completed the acquisition of the Company’s GE Aviation Systems’ flight control actuation business. In November 2009, GE Aviation acquired Naverus, Inc.

Shares of General Electric Co. (NYSE: GE) traded up 1.60% on Friday, ending the week at $15.39.

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