My Fellow Constituents and Colleagues
There will be more job losses within 4-6 months. Those who choose to stay for the severance package will have to wait in line after the company files for bankruptcy.
Whom ever chooses to be blind and ignorant and not prepare themselves is completely on them. The truth of this diabolical scenario will come to light in 4-6 months.
Those who choose not believe that this financial cover up is real. Yet they still think their job is secure is beyond me.
If the Madoff financial scam is not proof enough than I do not know what is. Look what happened to his company and all those people who lost those jobs. Madoff s company was bringing in $1 and for every $1 they lost $1.90. For every $1 GE brings in they loose $5.90.
I choose the start my career search again. Good luck
8 replies (most recent on top)
Good article! I restarted my career hunt again. Thanks to those greedy CEO’s and white collar big wigs. We the little guys get the shaft again. Hopefully we all get the shaft together holding hands in the unemployment line
After retiring from aircraft engines a few years ago I would agree. I've never seen a more missmanaged company. My manager committed s–c-de as well as my working partner. They were still using some 70 plus year old machines. I tried over 40 years to explain that this isn't a good idea. Ce la Vie.
@10zlBvhT-1eqg
I agree. Our motto at GE is: Honesty is the Best Policy.
Our reply to forensic accounting and fraud investigators is: Sticks and Stones may break our bones, but Words will never hurt us.
Its amazing how some people know about a report that they havent read, that was written by someone being paid by a hedge fund to bad mouth GE. Not saying it can't be true to some extent, but there has been a lot of finger pointing in the past, and the timing is pretty suspicious as well, IMO.
@kpk- You must be one of those company special kind of lover for GE. Or you have no skills in the real word and living on the OLD GE dream.
@kpk- I don’t see amazon and all the other big company’s being investigated and having red flags thrown around like a high school slumber party.
GE is has and was cooking the books for a long time: Period! Laws have been put in place to avoid similar issues like Enron. GE must of missed that legal memo or they were to far gone. GE cooked the books worse than Enron did. GE made Madoff look like an amateur. Either way Imelt and his crony’s got their big bonuses and paychecks meanwhile the little guys got the crumbs along the mohawk.
All company’s do not cook their books to gain investors to buy stocks!
Almost all major companies are in the same position, especially if they are a publicly traded company. Most publicly traded companies survive on pension fund investments. Many companies dont make a profit. THey rely on pension fund inflow every month. CALPERS and other major pension funds send millions to these companies in the form of debt each month. That keeps the lights on and the companies running. So yes all the numbers are fake. The banks didnt have any money in 2008, GE doesnt have any money, Enron didnt have it, World Com didnt have it. IF GE is broke how do you think the other companies are doing compared to that giant leader? Shoot even AMAZON with its tremendous market share has never made a profit.
We now know that Sarbanes Oxley was the beginning of a standard and the enforcement of it is something else. The SEC has to no choice but to prosecute if they were fudging their accounting numbers.