5 - Q. How long did you stay there? A. Three or four days. Q. When was the trip? A. November. Then went to Brazil to see Samarco project. Q. All of this involves capital. Does part of what GE plans to spend include Utah? A. Yes. (Then description of some projects in Brazil.) Jim Curry of Utah and I were there two weeks ago to see how Samarco is coming. Q. Is Utah investing more in 1977 as part of GE than they would have without the merger? A. Don't know how to answer that. We don't normally break this down by division. Their capital expenditures will be substantial. They were a bit unusual this past year because they bought six ships. Q. What about the development of gas and petroleum? A. A rather substantial sum. Exploration expenditures being put in that project. You know, there are some exciting projects in the old GE. You'll see us doing something in backward integration in chemicals. You'll see some good big expenditures in major appliances. In terms of equipment for productivity improvements in many of our businesses. I guess you're getting at our billion dollars? We should use that for profitable growth. Then we have to know how the economic up-cycle will end. In a liquidity crisis? Remember GE in 1974 when we saw $300 million go out in one month! Q. What are your capital expenditure plans for '77? A. I guess that's not in our annual report. We expect them to be up 15 to 20% over 1976 figure of $740 million, which was up 26% over 1975.