General Electric Secures $1 Billion in Contracts and Boeing Has More Engine Problems

There is plenty of economic data for investors to digest today, including positive housing data mixed with a disappointing drop in consumer confidence in November. The Conference Board's Consumer Confidence Index fell from 72.4 in October to 70.4 in November; economists had expected a gain to 73. Meanwhile, the Commerce Department said the number of new housing permits increased to 6.2% last month, which was the best rate in more than five years. The Dow Jones Industrial Average is trading just 0.25% higher at 2:50 p.m. EST on the mixed news. Here are some companies making headlines.

General Electric is trading 0.52% higher today after confirming late Monday it secured contracts worth roughly $700 million with Saudi Electricity. General Electric will provide 12 combined cycle gas turbines, four steam turbines, and 16 generators for multiple power plants. It was the second major order from Saudi Electricity; Reuters reported Monday that the company had inked a $453 million maintenance agreement for more than a dozen gas turbines.

GE also said it is close to a solution for Boeing  aircraft engines that are losing power briefly due to icing. The problem has occurred on roughly 400 engines that General Electric has produced for the Boeing 787 Dreamliner and 747-8, although it hasn't yet led to any significant problems,.

"If you were in the plane you wouldn't even notice it," General Electric spokesman Rick Kennedy said, according to ABC News.

Boeing has since told airlines not to fly planes with the engine within 50 nautical miles of storms that could lead to ice forming until GE updates the software that runs the engines. GE is confident the problem will be solved by a software update that only takes about an hour to install.

2015 Chevrolet Colorado. Photo credit: General Motors.

Outside of the Dow Jones Industrial Average, General Motors is jumping back into a vehicle segment Detroit has altogether abandoned. Ford abandoned the midsize truck segment and sent its Ranger overseas after the segment's sales plunged from more than 1 million units in 2000 to less than 270,000 trucks in 2012.

However, Detroit exit's left the door open for Japanese competitors to get their foot wedged in and create potentially loyal consumers to step up to their full-size pickups that have failed to gain traction. That's something General Motors aims to change when it launches the 2015 Chevrolet Colorado into showrooms next fall.

"It has that capable look, like there's no question that it can make it to wherever these active-lifestyle customers want to go," Ken Parkinson, executive director of Chevrolet design told Automotive News. "It looks great next to the new Silverado, yet it's very different."

The key for this to be a solid move for General Motors and its investors is all about pricing. If it drops the price too low, the automaker will cannibalize too many consumers from its most profitable model, the full-size Silverado. If there isn't enough price advantage versus current competitors, the Colorado might have face a tough comeback. The price gap between the Colorado and Silverado will likely be $6,000 to $8,000; that should hit the sweet spot to maximize sales on both ends, but only time will tell.

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The article General Electric Secures $1 Billion in Contracts and Boeing Has More Engine Problems originally appeared on

Fool contributor Daniel Miller owns shares of General Motors. The Motley Fool recommends General Motors. The Motley Fool owns shares of General Electric Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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GE readies fix for engine icing on 787s, 747-8s
wow it now 2013 Ge has had three years to fix its problems

May be the GE FADEC engine control box is mounted to close to the lithium-ion batteries Or GE and Boeing could parked the 747-8 and 787-8 still spring time

Is the Boeing 787's electrical system working? by Peter Cohan Aug 20th 2009

ANA Scraps 787 Dreamliner Flight as Engine Fails to Start ...

Jun 12, 2013 • ANA Holdings Inc., operator of the world’s biggest fleet of
Boeing Co. 787s, scrapped a service with the Dreamliner yesterday, the third
cancellation for ...

These software problem has been around for some time

General Electric Genx engine has been around since 2006

On most aircraft like the 747’s and 747-8 use the aircraft bleed air from
the aircrafts engines to kept the aircraft engines Nacelle leading edge alone
with the wing leading edge are kept warn by using the aircraft engine bleed air
system where bleed air from the aircrafts Engines is routed to wing leading edge and Nacelle leading edge on 747-8

For 787 see AERO - 787 No-Bleed Systems - Boeing

787 Wing ice protection

From 2009 ! Is the Boeing 787's electrical system working?

Anti Ice Protect is explain in ATA chapter 75-10-00

Airline rarely fly into bad weather since the aircraft is equipment with weather radar or 787 Dreamliners and 747-8 jumbo jets with General Electric Co. (GE) engines near thunderstorms after some of the planes experienced ice buildup.

The temperature generally drops at a rate of about 2 1/2 degrees per 1,000 feet on a cloudy,
humid day to about 4 degrees per 1,000 feet on a sunny, dry day. But the rate can vary depending on atmospheric conditions.
The temperature gradually drops until you get to about 38,000 feet, where it's about 75 degrees
below zero Fahrenheit. At that point, you reach the stratosphere, where the temperature goes up again until you're about 30 miles up, peaking up around
20-25 degrees above zero. So this an widow 8.0 software problems

787-8 used General Electric GEnx-1B with no bleed
air, all electric
or Rolls-Royce Trent 1000

747-8 used General Electric GEnx-2B67 with bleed

The 747-400 used GE CF6-80C2B5F

The 777 used the GE90

The 787 has been having compute or software problems since the summer of (2009)
Rolls-Royce working with ANA

November 26 2013 at 10:22 PM Report abuse rate up rate down Reply