Thread regarding General Electric Co. layoffs

My Question

So the questions I have are this...If the current management wanted to right the course of the company, and prevent investigations such as the third party, the SEC, and government pension fund, and the class action law suit on the SSP accounts, why wouldn't they open an investigation themselves as to where the money went? Did Jack cook the books, yes, most likely, just like his predecessors, but did not do what Immelt did. Where did the money go? Prosecute those found guilty of fraud, and have their assets frozen. Every board member and CEO and CFO after Immelt should have pushed for this, and had the power to do so. They did not. Culp, I believe is a very capable leader, has not taken the high, nor the right road here, is stead has bought mass quantities of stock, as recently as last week when the stock dropped. He will become a billionaire if the stock even surpasses $18 a share. IF the government agencies are aware of the short comings, why isn't there more prosecutions? I keep coming back to Immelt being a job Czar, and the mass contracts the company has with the government. I'm just a worker bee, so I cannot effect change, but I think questions need answers.

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| 2532 views | | 5 replies (last August 23, 2019) | Reply
Post ID: @OP+10BybQ0N

5 replies (most recent on top)

A LOT of capital was thoughtlessly destroyed.

https://fortune.com/2019/08/22/ge-stock-buybacks-financials/amp/

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Post ID: @5czu+10BybQ0N

The letter below hints at what has happened to roughly $29 billion of the $200 billion GE got from GE Capital sale.

What happened to the remaining $171 billion in cash?

http://ctwinvestmentgroup.com/wp-content/uploads/2019/04/GEBoard-LetterFinal.pdf

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Post ID: @1bse+10BybQ0N

Back in August 2015, GE told investors they’ll have to wait two years to start seeing a financial payoff after GE sold most of GE Capital. Well, we saw what happened. In August 2017, Warren Buffet sold his shares while GE stock started to drop. Now we are hearing the same thing now. Just wait two years and everything will be great.

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Post ID: @1jfv+10BybQ0N

Two Jets promised to “return $100 billion dollars to shareholders”. That proved to be a fraud.

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Post ID: @1bvm+10BybQ0N

The sale of most of GE Capital in 2015 generated about $200 billion in cash. What happened to that money?

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Post ID: @1pxd+10BybQ0N

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