Some of the posters on this site are obviously not accurate in their posts. However, the truth is that GE can’t seem to catch a break. Japan (key GE customer) announced a $1/2 Billion lawsuit for the Fukushima nuclear disaster. Other class action lawsuits have been filed for investor deception and retirement fund management issues. Independent sites are showing GE probability of bankruptcy north of 48%. I predict bankruptcy within 2 years as I have zero confidence in our disconnected leaders.
15 replies (most recent on top)
.....it wasn't me, it was him! 😎😎
What I heard when I was still at GE and this went down was we had been telling them for years that there were problems and they said “okay , we’re fine”
but who knows. This lawsuit is utterly meaningless against everything else
Now the can of worms is opening up. We have cover-up and denial, we have finger-pointing and shifting the blame to others, we have despair and more theatricals.
These suits and news are years old. Again, this is nothing more than wishful people trying to drive stock price down. Seeking Alpha type hype and a waste time posting it. If you want old news how about GE nuclear senior leadership being removed years ago. They were subcontractor to the utility and asked to overlook unfavorable NDT reports that TEPCO asked them to cover up on these same plants.
Media was reporting this Nov 17th
David L. Harris , Associate Managing Editor
Nov 17, 2017, 4:00pm EST
Some people are going to be tetchy about the outcome of this lawsuit. It could go either way that's the problem with a lot of finger- pointing.
This sh-t is old news google it. If there is anyone to blame it would be the Japanese utility. Sorry but GE is not blame. Go waste your time posting real news. Sorry but the lawyers in Japan are not like the scum bags here in the USA who want make money off any incident. Mark my words GE will pay nothing in this revised old news.
Earthquake activity off Japan is high and historically they've had to live with tsunamis which is why many towns and cities built concrete barriers on their shorelines. Even without the hindsight of Fukushima, wasn't there some risk to building a nuclear reactor right on the coastline? Someone has f----- up here looks like.
GE was negligent with investor deception.
Regardless, it’s going to cost GE to defend.
The claim was GE chose to install at lower elevation to save money. I do not believe GE was negligent in this case. Just my opinion.
Act of god or force majuere no chance of a prosecution.
I am a 30 year veteran of nuclear industry. Nuclear plant designed/built by ANY company situated at the same site would have suffered the same magnitude of destruction. Lawyers trying to cash in.
Lawsuits for Fukushima seem to be flying both ways. I'm no great shakes in nuclear physics but what I did sense when watching events unfurl on live TV was it was far worse than people were letting on.
They should be able to burn through the rest of their cash within 2 years at this rate.