General Electric Co. (NYSE: GE) Spent $8.3 Million on Q2 Lobbying

Posted by on Aug 24th, 2010

General Electric Co. (NYSE: GE) spent a total of $8.3 million lobbying the federal government during the second quarter, working on a wide range of issues including clean energy legislation and financial reform legislation.

The conglomerate company spent more than the $7.2 million that it spent during the second quarter of 2009, as a number of major pieces worked their way through congress. The report came from a disclosure which was filed with the House’s clerk office on July 20th. The company also spent more than the $7.14 million it spent during the first quarter of 2010.

General Electric Co. (NYSE: GE) lobbied the government on a number of manners in the financial reform legislation including derivatives, credit cards, mortgages and financial services reform. G.E. Capital, a division of General Electric, is a provider of consumer and commercial loans.

G.E., which makes aircraft engines for the government, lobbied the Pentagon, hoping to stop the Obama administration’s plan to stop funding for a second engine for the F-35 fighter jet. The administration has labeled the second engine, built by G.E. and Rolls Royce, as un-necessary.

The company also focused on other legislation including health care, R&D spending on alternative energy, and legislation related to the FAA.

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 down 0.93% on Monday ending the day at $14.89.