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April 21, 1994

GEC STILL AIM FOR A RECORD YEAR

By CBR Staff Writer

Deeply embarrassed Fairfield, Connecticut-based General Electric Co, smarting from previously undiscovered skullduggery at its Kidder, Peabody & Co investment bank, says it is still committed to record earnings for the year: GE had to take a $210m charge in the quarter related to the irregular trading activities at its Kidder Peabody unit, where the company fired its chief of Treasury trading this week and now reckons the phantom profits scam had been going on 18 months.

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