Insurance portfolio, Power Services, what's next? GE stock headed to $10
12 replies (most recent on top)
GE did what it always does. Pulled some tricks, made some extra sales to make the quarterly numbers. This insurance "mistake" was supposed to be covered by the successes of other business units. But at some point, the music stops and the game is over.
My old boss used to say GE has more money than god. Where did it go and who was watching?
@qjo, oh I'm sure Aviation has some bad news up its sleeve. It has a cash flow problem that is masked because it "sells" its cash to GE Capital, so sooner or later, that house of cards will fall.
All that is needed is some bad news from Healthcare or Aviation then you can turn the lights off
Time to break it all up!
GE hates to tell itself bad news. People with bad news are punished. People who say bad news can be ignored are rewarded. Everyone knows this.
Further reduction at Capital? how much more will you reduce it? GE should change its name to React as there has not been an iota of pro-activity in over a decade
The worse part is that this stuff was known internally in December (and maybe before) and is just coming out now. What's next? Btw ... how is Zanin still around, should the CRO be more involved and mitigate the risk the company?
If you have stock sell sell SELL. Bottom might be 12.00 soon.
@tig, Nah, we are paying Flannery millions for his friday updates. Good stuff! The last one, he managed to take MLK Jr.'s legacy and spin it into how it relates to GE. MLK was all about meritocracy, and so is GE. Everyone remembers Dr. King marching in Selma and getting arrested in Birmingham, but did you also know that he was a member of CAS and preferred to plan civil rights meetings with OLDP graduates???
CFO refers to 7 year period ... at this rate GE won't be around in 7 years. And yes, get rid of the external auditors. And if Flannery thinks is audit staff army is good to address what is going on, he should go back to school with them as the vast majority of them haven't gotten out of their diapers yet!
How many $Millions are we paying Flannery to continuously repeat how disappointing GE is?