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Updated from 1 a.m. EST
General Electric(GE Quote) said CEO Jeff Immelt declined his 2008 bonus as the company's stock price has dropped amid deteriorating economic conditions.
The Fairfield, Connecticut-based company, which makes everything from locomotives to household appliances, said in a filing with the Securities and Exchange Commission that Immelt also will forgo his $11.7 million long-term performance award.
GE said it accepted Immelt's offer to go without the payments because of its declining stock price. ...
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