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Interview Summary John Stanger with Lou Kraar, FORTUNE May 11, 1977 Mr. Stanger began a brief capsule history of GECC...""our original purpose was to provide sales financing support for the sale of GE products. We found as the years went on we were financing other manufacturers1 appliances sold by our dealers and were making money in doing so. In the late 50's we reached a policy decision to become a general finance company serving industry. We began a separate component in 1960 within GECC whose purpose was to provide sales financing services generally to commercial and industrial distributors and dealers covering all types of equipment. Concurrently in the early 60's we decided to extend our service to the manufacturers and distributors of mobile homes. This was a well planned and well executed diversification program. Today we're engaged in nine separate fields of activity, seven of them being financing and two of them insurance."" Q. So much is said by people in GE that strategic planning locates opportunities. How is this done in this affiliate? A. The decision to diversify GECC was strategic planning working within the General Electric Co. I was present at many meetings where alternate fields were considered and schedules determined for entry into these fields. That was my introduction to it... the genesis of strategic planning in GECC. Q. When was this? A. In the early 60's. We had a long laundry list of potential fields. Then we would consider where our special expertise would enable us to make the strongest contribution. Were they growth fields? Etc For example, we looked at mobile homes in the 60's as a large potential growth field as we saw an increasing need for lower cost housing. Q. What happens when there's a change? Mobile homes, for example, are less of a field today. A. Yes, because it's growing more slowly now, we've started to look at new, more promising areas. So an area that had a high growth potential ten years ago may not be that way today. Q. Do you finance jet aircraft? A. Yes, we have $736 million of commercial jet aircraft leased to various airlines.
|Subject||Utah International Inc.; Notes--Meeting Minutes; General Electric; Littlefield, Edmund Wattis; Jones, Reginald|
|Description||This is a myriad of items throughout the UC/UI collection. It includes the minutes of the stockholder'; s meetings with both Utah International and General Electric, correspondence, a reel-to-reel tape of the merger meeting and the official merger documents.|
|Creator||Stewart Library, Weber State University|
|Publisher Digital||Stewart Library, Weber State University|
|Contributors||Funded through the generous support of the Edmund W. and Jeannik M. Littlefield Foundation.|
|Original Format||4.25 x 6.5 - 8.5 x 11 in. handwritten or typed on paper|
|Digitization Specifications||Archived TIFF images were scanned by Kathleen Broeder at 400 dpi with an Epson Expression 10000XL scanner. JPG and PDF files were then created for general use.|
|Source||MS 100 Box 2b, 23, 44-45, 242, 250, 268|
|Rights Management||Digital Image Copyright 2009. Materials may be used for non-profit and educational purposes, please credit the Special Collections Department, Stewart Library, Weber State University.|