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Useful quotes from GE’s Jeff Immelt on trends

“In 1982, the year I joined GE, about 10% of the earnings of the S&P 500 were in financial services. The US was a net exporter. R&D as a percentage of GDP was in the mid single digits. GE revenues were 80% in the U.S., 20% out of U.S.”

By 2007, financial services earnings as a percentage of the S&P were about 45%. The U.S. was a net importer…R&D as a percentage of GDP had slipped to about 2%.

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