In a huge win for climate action, eight coal-fired plants were scrapped as part of the $45 billion buyout of the Texas utitlity giant TXU. Here in New York, GE lost a contract.

That's because the plants were slated to be built by Bechtel Corp. and equipped with turbines and generators supplied by GE in Schenectady.

Nobody seems to mind though. In the words of a GE Spokesman: "There are other jobs that we have...it's a long-cycle business. You plan your labor over time."