The lack of accountability and exposure of executives to the downside of their "management expertise" at this company is scary. These individuals are taught from a very young age that the only thing that matters is advancing in the GE pyramid, if something from your old role blows up don't worry about it it's on the new guy. For example, the former head of the Audit Staff changed the mandate of the group of attestation, compliance, and internal control to one of internal management consulting. Because of this individual's negligence, the company is under an active SEC investigation for improper accounting treatment. Was this individual fired, reprimanded or admonished? No, they have been promoted twice. The company should claw back the compensation of individuals like this given the risk they exposed the company to. If you want incentives to be aligned with the owners, there has to be a downside as well as an upside. Bolze, Welch, Immelt and the rest get cushy packages while the shareholders bear the brunt of the their hidden risks.
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I love you totally and completely.
GRC side: VA, MG, KL, JM, CP, DM, DK.. and the list goes on and on.... add your own favorites here for each business, so at least we have some kind of a record before the whole thing might be over.
I bought this POS a few months ago, 30 shares at $19.11 each. My negativity towards the company was so bad that I was annoying myself. I thought buying 30 shares of skin in the game would make me excited for the company to rebound.
It was a nice thought, at least...
The problem with GE is the leadership needs to run it like they own it. Not run it to meet metrics. It is that simple. I sold this POS months ago when they promoted harry potter.
Hey the only thing I’m interested in is who I’m gonna backstab next. It’s a jungle out there. I keep blaming others to get me off the hook but the shxx keeps hitting the fan.
Why should they care about anything but themselves?
GE managers and execs are trash